Market Updates
Spring Festival spending highlights momentum of China’s economy
China’s eight-day Spring Festival holiday for the Year of the Dragon witnessed a booming consumer market, highlighting the vitality and momentum of the Chinese economy. China’s tourism sector recorded 474 million domestic tourist trips during the 2024 Spring Festival holidays, up 34.3% year-on-year, with total travel spending reaching 632.687 billion yuan($88.89 billion), up 47.3% year-on-year.
Digital
Coach introduces “Find Your Courage” in metaverse
Coach‘s new “Find Your Courage” campaign brings audiences into a virtual world highlighting authenticity and self-expression by featuring virtual KOL Imma. The brand showcases its Spring collection a virtual universe within a story about finding the courage to discover what it means to be real in your own way.
Fashion
Dior announces Lang Lang as global brand ambassador
Dior announced that the world-renowned pianist Lang Lang (郎朗) has become its global brand ambassador. Dior expressed the appreciation for Lang Lang’s passion for art and music, as well as his dedication to the development of art education. Lang Lang, an internationally acclaimed pianist, has 17 million followers on Weibo.
Balenciaga to hold 2025 Spring runway show in Shanghai
Balenciaga announced that its 2025 Spring collection fashion show will be held in Shanghai on May 30th. This show is Balenciaga’s third overseas fashion show since its establishment.
Valentino announces Jolin Cai as brand spokesperson
On February 19, Valentino announced Jolin Cai (蔡依林) as brand spokesperson. Jolin is a high-profile singer from Taiwan, China, and is recognized as one of the most influential singers in the Chinese-speaking world.
Beauty
Helena Rubinstein names Michelle Yeoh as brand ambassador
Helena Rubinstein announced the renowned actress Michelle Yeoh (杨紫琼) as its newest brand ambassador. Yeoh made history as the first Asian woman to win an Oscar for lead actress last year.
Travel Retail
Spring Festival holiday spurs duty-free consumption in Hainan
According to data from Haikou Customs, from Feb. 10 to 13, the duty-free sales in Hainan totaled 1.217 billion yuan (about $169 million). The number of duty-free shoppers reached 156,000, with an average spending of 7,802 yuan per person.
New Openings and Launches
Cartier to host major Shanghai Exhibition in November
Tom Ford Eyewear enters Tmall Luxury Pavilion
Hogan opens its first flagship store in South China in Shenzhen
Armani/Privé Haute Couture Fragrances pop-up opens at Deshougong Palace Site, Hangzhou
Aesop will open its first store in Guangzhou in March
Diptyque opens a store at Shanghai Hongqiao Airport
To Summer opens its second store in Shanghai
Hennessy opens a store at Haikou Airport
