The global luxury market is projected to grow by up to 12 percent in 2023, according to a new study released by Bain & Company and Altagamma, the Italian luxury […]…
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Alibaba reorganises into six business groups
Alibaba Group said on Tuesday it will reorganise into six business groups and other investments, a move designed to unlock shareholder value and foster market competitiveness. …
Superdry sells off APAC brand to Korea’s Cowell
British denim and apparel brand Superdry announced it has sold its brand in the Asia-Pacific region to South Korean company, Cowell Fashion Company.…
Nike Greater China sales slip further, APAC region growth slows
Nike Inc. announced revenues for its recently ended third quarter increased 14 percent to USD 12.4 billion compared to the prior year, or up 19 percent on a currency-neutral basis, with sales in its A…
Cucinelli Asia posts 24 percent growth in 2022 as China thrives
Brunello Cucinelli reported net revenues of EUR 919.7 million (USD 983.75 million) for the year 2022, with 29.1 percent growth at current exchange rates, and 24.8 percent at constant exchange rates, a…
Tod’s 2022 sales resilient on dip in Greater China
Italian luxury company Tod’s Group announced on March 13 consolidated sales for the year 2022 were up 14 percent to EUR 1.007 billion on 2021, and up 10 percent compared to pre-pandemic levels in 2019…
Lego revenues soar in 2022, opens new Vietnam factory
Denmark’s Lego Group on March 7 reported strong earnings for the full year of 2022, which saw the toy maker outpace the toy market during the year and gain market share. The Copenhagen-based com…
Adidas Greater China sales take massive hit
German sportswear giant Adidas announced on March 7 total revenues for the year 2022 grew just 1 percent, reflecting increases in all market segments except for Greater China. …
Puma posts Asia sales dip in 2022, expects Greater China recovery
German sportswear giant Puma SE announced it expects Greater China to return to growth in 2023, adding its market share in the country is “significantly too low,” especially compared with …
Moncler Asia sales up 14 percent in 2022, Stone Island doubles
Luxury apparel maker Moncler Group announced on Tuesday full-year 2022 revenues reached EUR 2.6 billion (USD 2.78 billion) up 25 percent, compared to 2021.…