Luxury shopping in the post-Covid era is seen again as an exclusive gratification, a localised, digital and sensorial experience through authentic, high-added-value products, according to market research firm Ipsos.
China’s Alibaba Group Holding Ltd beat quarterly revenue and profit estimates as its core commerce and cloud computing businesses continued to grow following China’s emergence from the coronavirus lockdown.
Burberry on Friday announced the opening of its long-awaited social retail store in China’s technology hub Shenzhen, “blending the physical and social worlds in a digitally immersive retail experience”.
The government’s Ministry of Electronics and IT announced that it has banned 59 Chinese mobile apps in India including shopping apps for clothing stores Shein, Romwe, and Club Factory, citing a security threat.
Burberry was hit hard by the Covid-19 crisis at the end of its last financial year and the impact is continuing in the new year. But it's seeing resurgent demand in key Asian markets and its strategy remains on track.