Tag: LVMH Moet Hennessy Louis Vuitton SA

China’s Import Curbs on Cosmetics Face Pushback in Europe

Media Library

In the gloom of China’s economy, one area of business is booming: cosmetics. After enduring nearly three years of mandatory masks and frequent lockdowns during the pandemic, many Chinese consumers, wary of big-ticket purchases like apartments, are now splurging on lipstick, perfume, moisturizers and other personal care products. But cosmetics companies from France, Japan, South Korea and the United States, which have invested heavily in China, are missing out on a lot of the action. As China’s cosmetics companies are booming, imports of cosmetics are wilting under regulations that the…

In China, It’s Time to Splurge Again, and the Luxury Industry Is Relieved

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This time last year, Shanghai — China’s capital of fashion and luxury — was in the throes of a ruthlessly enforced Covid lockdown. The city’s glittering high-end malls and avenues lined with flagship stores stood practically empty. Today it is a different story. Huge crowds on a recent weekend flocked to top retail destinations on or near Nanjing Road, the hub of glamour in China ever since the country’s first large department stores began to open there in 1917. “I splurge more extravagantly,” Sunny Zhang, 24, said as she waited…

In China, Luxury Shopping Faces Ongoing Headwinds

Chin@Strategy

This article is part of our special section on the DealBook Summit that included business and policy leaders from around the world. Toward the end of 2021, a glittering luxury shopping center called Taikoo Li Qiantan opened its doors in Shanghai. The 120,000-square-meter center (the equivalent to a stretch of 17 soccer pitches) is made up of nine buildings, landscaped gardens and stores from Western brands such as Balenciaga, Bulgari, Cartier, Gucci, Hermès and Tiffany & Company. The expectation for this colossal state-of-the-art mall in China’s commercial capital, owned by…