This year has increased the importance of Chinese consumers to the luxury sector as the overall market has shrunk while China’s purchases have surged. And there's more to come in the next few years too.
Total revenue and profits may have slumped at Capri holdings in the latest quarter, but the owner of Michael Kors, Versace and Jimmy Choo was upbeat as Chinese demand recovered strongly and e-tail soared.
Next summer’s womenswear collections showcased in New York, London, Milan and Paris – digitally and on the catwalks - were heavily influenced by life in lockdown, hankering for comfort, minimalism and inclusion.
The weather played less of a part than usual in sales at Fast Retailing’s Uniqlo chain during July with the company saying on Tuesday that its Japanese sales (including online) rose 4.7% year-on-year during the month.
Facebook beat analysts' estimates for quarterly revenue on Thursday, as businesses used its digital advertising tools to tap a surge in online traffic during the pandemic even as they slashed marketing budgets elsewhere.
What to do with China's abundant stock of coal? Chemicals giant Hengli plans to make clothes out of it. The firm has surprised observers by getting into mining with a $20bn project to convert coal into polyester yarn.