Agenda-setting intelligence, analysis and advice for the global fashion community.
"Meredith Hattam: My Life Working as a Model in China" (Fashionista)
“My life modeling in China is not what you typically read about. It’s the dregs of the modeling world, the bottom rung of the high-fashion ladder. You’ll never read about a Hangzhou runway show in, say, Fashionista, though it might pay better than its NYC counterparts. Beijing is considered a second-tier market, the high-fashion trinity of New York, Milan and Paris the first. Yet these obscure industry offshoots — usually located in Asia, India and Europe — comprise much of the international modeling economy.”
"Uniqlo Operator Profits From Asia Growth, Bargain Cashmere" (Reuters)
"Asia's biggest clothing retailer Fast Retailing Co Ltd posted a higher-than-expected first-quarter profit, helped by strong Japan sales at its flagship casual Uniqlo brand which lured thrifty customers with affordable luxury items. The retailer also benefited from a move to boost sales growth outside Japan, especially in China and South Korea, with a weaker yen helping to plump up foreign revenues. 'Along with putting out cashmere and other high-priced goods, we want to boost spending by increasing the number of items people buy,' Chief Financial Officer Takeshi Okazaki told an earnings briefing."
ADVERTISEMENT
"Chinese Shoppers Abroad to boost Ferragamo's 2014 Sales" (Reuters)
"Travelling Chinese shoppers snapping up leather goods will drive sales growth in 2014 at luxury group Salvatore Ferragamo, its chief executive said on Sunday, before it showed a menswear collection aimed at promoting its Italian heritage. Michele Norsa said the group had closed 2013 in line with its expectations, but that it was important to wait until Chinese New Year in January to make forecasts for the year."
"Lessons Behind L'Oréal's About-Face" (The Financial Times)
“When L’Oréal said last week it would stop selling Garnier products in China, many outsiders assumed the French cosmetics group was joining a wholesale retreat by big western brands, led by Revlon of the US, which last month closed all its operations in mainland China, eliminating 1,100 jobs, including those of 940 beauty advisers. It all looked pretty ugly. But the Garnier story has as many wrinkles as a Middle Kingdom matron before using its ‘skin brightener’ PS Cream 5s. Beneath the make-up lies a more complex picture of how (and how not) to sell big consumer brands into rapidly evolving markets.”
