Monthly Archives: July 2020

The French cosmetics powerhouse L’Oréal disclosed a 11.7 percent drop in sales for the first half 2020 on a like-for-like basis, as shown in its 2020 half-year financial results released on July 30. With sales revenue registered at 5.85 billion euros, down 19.4 percent, the group was hurt by the ongoing COVID-19 pandemic as its […]

After approximately 9.5 million students took the Gaokao — China’s national college entrance exam, which ended on June 9 this year — sneaker launches, resales, and auctions across the country have seen their businesses thrive despite the ongoing COVID-19 pandemic. Gaokao students, who are mostly between the ages of 17-20 years old, make up the […]

Luxury brands have entered an age where they are vying to achieve digital firsts. Burberry became one of the first brands to engage in luxury livestreaming this March, and now it has become the first to open a social retail concept store. The performance of this ground-breaking store will not only determine whether the concept […]

On July 30, the french luxury group Hermès revealed its first-half earnings results for 2020, ending on June 30, and net profits plunged by 55 percent to $395 million (335 million euros) from $889 million (754 million euros) over the first half of 2019. Meanwhile, revenue dropped 24 percent to $2.9 billion (2.49 billion euros) […]

On July 29, the Italy-based and Hong Kong-listed fashion group Prada SpA reported that its net revenues fell by 40 percent year-on-year to $1.1 billion (938 million euros) over the first six months of the year. Like many other rivals, the group’s revenue registered heavy losses due to lockdowns during the COVID-19 pandemic. But retail […]

A group of Japanese lawmakers are planning to investigate the risks within Chinese-developed apps, including Bytedance’s wildly popular TikTok, following the US’s national security concerns regarding the app, Bloomberg reported via Japanese newspaper Yomiuri Shimbun on July 28. The probe would extend beyond social apps, per Bloomberg, citing a separate report from Japanese national broadcaster […]

This post originally appeared on The Moodie Davitt Report CHINA. Interest in the burgeoning duty free sector continues to heat up in China with multiple domestic market players lining up licence applications. But seeing those licences granted will be a much greater challenge, market insiders warn. As reported first by The Moodie Davitt Report’s Chinese information […]

TikTok, which is owned and was developed by Bytedance, is currently under fire in various countries around the world, as several foreign governments see its Chinese roots as an increasing liability. Recently, US Secretary of State Mike Pompeo told Fox News that the United States is “certainly looking at” banning TikTok over concerns that the […]

What happened:  Similar to how Samantha Jones used Lucy Liu’s name to jump the queue to get a Birkin bag in “Sex and the City.” China recently has a version of its own. The new hit TV drama “Nothing But Thirty” offered a realistic depiction of the luxury brand hierarchy in China. One of the […]

On July 28, Kering, the French luxury group, announced its first-half 2020 results ending on June 30. Consolidated revenues for the period fell 29.6 percent to 5,378.3 million euros, representing a decline of 30.1 percent on a comparable basis. As Chairman and Chief Executive Officer François-Henri Pinault described, “It is fair to say that the […]