Worldview: Shanghai Style Presen Chief Takes on Brandnew Function

🇨🇳 Shanghai Fashion Week leader takes on new role. The Autumn/Iciness 2024 season of Shanghai Style Presen took park between Mar. 25 and Apr. 1 in Shanghai, China. The development kicked off with the Le Repute display, which lured actresses Angelababy, Yang Chaoyue and Hu Lianxin to the entrance row. Buzzy dressmaker names comparable to Louis Shengtao Chen and Shushu/Tong took to the runway along stalwarts like Xander Zhou and Comme Moi as consumers flocked to business displays, showrooms and showcases together with Method, Ontimeshow, Tube Showroom, Dadashow, Now not Showroom and Tasha Liu’s Labelhood. This season additionally noticed the go back of The Then platform, that includes graduate displays from Donghua College, the Style Design Institute of China Academy of Artwork and Soochow College. One speaking level this season used to be the presen function of favor day’s general-secretary Lv Xiaolei, often referred to as Madame Lu, who has suggested the development for greater than a decade. Lv used to be just lately named govt vp of the Shanghai Style Clothier Affiliation, a parallel initiative revived to backup advertise native designers in a foreign country. [China Daily, Shanghai Daily/Shine, SHFW]

🇵🇱 Poland’s LPP bounces back from Russia divestment allegations. LPP Team, one in all Japanese Europe’s greatest model producers and outlets promoting manufacturers Mohito, Reserved, Space, Cropp and Sinsay to 39 nations, has discoverable its stocks get better at the Warsaw Retain Trade next a US cut supplier characterized the corporate’s withdrawal from the Russia marketplace as a “sham.” Extreme day, Hindenburg Analysis claimed LPP impaired Kazakhstan as a backdoor to transit items, however LPP executives disregarded the allegations, announcing that a part of the 2022 transitional association to divest from Russia it introduced within the wake of the battle in Ukraine incorporated supplying garments to brokers that resold the products in Russia. The Gdansk-based attire gigantic upcoming vowed to finish gross sales to Russia sooner than the top of the tide fiscal moment on Jan. 31, 2025. Co-founder and CEO Marek Piechocki sounded bullish utmost day when reporting an 85.5 % surge in 2023 complete moment earnings to at least one.61 billion zlotys ($403 million) and a 9.3 % arise in revenues to 17.41 billion zlotys ($4.3 billion). “In the next three years, we plan to double our traditional [store] network and, in the meantime, generate twice as much sales volume as we do today,” he mentioned. [Bloomberg, Reuters]

🇲🇾 Malaysian retailer charged and bombed over blasphemous socks. Socks with the promise ‘Allah’, Arabic for ‘God’, had been present in a KK Tremendous Mart comfort bind within the Muslim-majority society, prompting on-line outrage as a result of “putting Allah at our feet is an insult,” defined the rustic’s non secular affairs minister. A court docket has charged 5 corporate executives at each the store and its provider Xin Jian Chang in China (the previous has accused the endmost of “sabotage”) for hurting non secular emotions, specifically all the way through the holy day of Ramadan. Dealing with prison, a tremendous or each, all events apologised and pleaded no longer in charge, however rage nonetheless simmered on Tuesday when a petroleum bomb used to be thrown right into a department of the similar retail chain, inflicting a hearth however negative accidents. [Al Jazeera]

🇦🇪 Profits up 12% at Emirati mall operator Majid Al Futtaim. The Dubai-based conglomerate with a portfolio of dozens of main buying groceries department stores around the Heart East and North Africa pocket together with the Mall of the Emirates, the Mall of Oman and the Mall of Egypt, has reported complete moment internet benefit in 2023 of two.7 billion dirhams ($740 million) and income of 34.5 billion dirhams, up 1 % over the former moment. [The National]

🇨🇳 China’s s-commerce giant Xiaohongshu is finally profitable. The social media app with buying groceries and livestream trade options, now and again dubbed ‘China’s Instagram’, has earned $500 million in internet benefit in 2023 on revenues of $3.7 billion, in step with community briefed at the figures on the Shanghai-based corporate based in 2013. It’s a flip of fortune for the platform common with good looks and model manufacturers, having reportedly generated a $200 million loss in 2022, towards sturdy festival from the likes of Douyin and Kuaishou. [Financial Times]

🇮🇳 India’s fashion e-commerce giant Myntra is operationally profitable. The platform owned by means of Walmart’s Flipkart has reported that its market unit has been “EBITDA (earnings before interest, taxes, depreciation, and amortisation) positive” since October 2023, for 2 consecutive quarters, a milestone the corporate hasn’t ever completed sooner than. Based in 2007, Myntra sells main model and way of life manufacturers together with H&M, Levi’s, Tommy Hilfiger and Mango. [Business Standard, Mint]

🇬🇹 US launches initiative to boost textile and apparel trade with Guatemala. American business and customs companies have introduced a capability development programme to proceed retain business between the USA and the Central American society. Guatemala’s attire and textile sector, more and more remarkable for American companies’ nearshoring efforts, is a big contributor to the rustic’s economic system, constituting 14 % of overall exports and eight.9 % of GDP, producing 180,000 direct and oblique jobs, in step with USAID. [Fibre2Fashion, USAID]

🇨🇳 More Chinese companies to be added to US import ban list. The collection of Chinese language corporations forbidden by means of the USA Uyghur Pressured Hard work Prevention Function Entity Checklist is predicted to develop within the then few months, mentioned a Place of origin Safety helper. Since 2022 the USA has barred maximum imports with hyperlinks to China’s Xinjiang pocket, together with textile and attire merchandise, over issues of compelled labour within the fibre provide chain, claims which China denies. [Wall Street Journal]

🇰🇪 Kenya’s used clothes traders lobby against EU export restrictions. An offer by means of France, Denmark and Sweden to limit second-hand clothes exports from the Eu Union may harm Kenya’s clothes resale business, which employs two million community, mentioned a consultant of dealers within the east African society. [Reuters]

🇨🇳 Chinese mall owner Hang Lung Properties reports tenant sales rebound. The Hong Kong-based trait developer, which owns main model department stores promoting international luxurious manufacturers together with Shanghai’s Plaza 66, posted a 42 % arise in tenant gross sales within the first part of 2023, albeit from a low bottom all the way through an preliminary post-pandemic reopening rebound. [China Daily]

🇨🇳 Douyin launches standalone shopping app in China. The ByteDance-owned social media platform with buying groceries options has absolved Douyin Mall, in a bid to compete additional with Chinese language e-commerce giants Alibaba’s Tmall and Taobao, JD.com and PDD Holdings’ Pinduoduo. [South China Morning Post]

🇮🇳 Kamal Lath appointed CFO of Indian beauty major Good Glamm Group. The Harvard Trade College alumnus brings over 20 years of finance and control enjoy to the Mumbai-based content-to-commerce unicorn which started as DTC make-up emblem MyGlamm sooner than obtaining a solid of good looks and private serve merchandise. [Economic Times]

🇰🇷 Tumi names South Korean actress Mun Kayoung as brand ambassador. The American bag and baggage maker tapped the German-born, South Korean-raised actress, often referred to as Moon Ga-young, well-known for her roles in common tv form. [BoF Inbox]