China’s first-half 5.5% GDP growth fastest among major global economies: NBS spokesperson
China’s 5.5-percent first-half GDP growth is the fastest among major economies, with relatively high valuation and quality.
Chinese policymakers launch intensive, targeted stimulus to bolster growth
Chinese policymakers have been intensively launching stimulus measures to boost consumption and rejuvenate growth momentum over the past week, moves that are seen as a pivot for bolstering the nation’s continuous economic recovery and also critical for the world as it encounters lingering headwinds.
Lower-tier cities brighten luxury market
As luxury brands penetrate China’s lower-tier cities, the market for such goods is acquiring new geographical dimensions. Even though Shanghai and Beijing continue to be the top market segments, emerging cities such as Chengdu in Sichuan Province in Southwest China and Hangzhou in Zhejiang Province in East China are grabbing attention, narrowing the gap between them and first-tier cities. According to a UBS report titled”2023 Outlook: The Year of the Chinese Consumer”, a stronger return of Chinese luxury consumers is expected this year, which could drive up earnings and valuations of global luxury houses.
Meta may collaborate with Tencent on VR headsets
Meta is seeking cooperation with well-known Chinese technology companies to introduce its VR headset to Chinese consumers, and discussions with Tencent have made significant progress. This exclusive collaboration may extend to Meta’s highly anticipated Quest 3 headset, which will consolidate Tencent’s position in the Chinese VR market.
Cai Guo-Qiang X Saint Laurent：”Ramble in the Cosmos“ VR broadcast on Douyin
Cai Guo-Qiang partnered with Saint Laurent to present his solo exhibition “Ramble in the Cosmos – From Primeval Fireball Onward” at the National Art Center in Tokyo. Before the exhibitions opening, Cai Guo-Qiang orchestrated a daytime fireworks “When the Sky Blooms with Sakura” commissioned by Saint Laurent, which was broadcasted by Douyin and Pico creating panoramic VR experience for the audience.
Rimowa launched metaverse experience through Tmall
Luxury luggage brand Rimowa expanded its collaboration with Tmall Luxury and mobile Tmall apps, launching its first digital exhibition hall called “Journey to an Easy World” at the Immersive Virtual World Tmall Luxury Museum. This 3D exhibition is themed around global travel, bringing visitors into a surreal space that showcases diverse landscapes.
LVMH CEO Bernard Arnault visits China
LVMH Group CEO Bernard Arnault, along with senior executives from its luxury brands, his daughter Delphine Arnault and son Jean Arnault. They visited Beijing, Chengdu, and Shanghai on June 27-29.
Prada official partner of China’s Women Football Team
Prada revealed its official partnership with China’s Women Football Team, sponsoring formal and traveling suits on July 10th.
Moschino announces Esther Yu as new brand spokesperson
Moschino announced Esther Yu (虞书欣) as its new brand spokesperson. Esther Yu is a popular actress with 21 million followers on Weibo.
Loewe announces Leo Wu as brand spokesperson
Loewe announced Leo Wu(吴磊) as brand spokesperson. Leo is a famous actor with 48.1 million followers on Weibo.
Maison Margiela collaborates with SUNYATA
Recently, Maison Margiela collaborates with SUNYATA Chongqing and Meili for a fragrance campaign running from July to August. SUNYATA is a boutique hotel brand with a focus on high-end customized travel and deep local cultural experiences.
Helena Rubinstein teams with Tesla presenting top electronic music carnival tour in China
Helena Rubinster and Tesla joined forces to present the EDC China electronic music festival tour in 8 cities for its collection called “Powercell Skinmunity”. The first show was held at Zhangyuan in Shanghai on July 8th.
Harrods set to open club in Shanghai
Harrods will launch its new private members’ club in Shanghai at the end of this year, which will be its first club of its kind in the world.
Hermes opened a new store in Tianjin, marking its second entry into the city after withdrawing in 2011
Prada opens its boutique store in Beijing WF Central
Acne Studios opened its first 2-floor flagship store at Shenzhen MixC mall
Holzweiler, a Norwegian fashion brand, opens its first store in China at Chengdu Taikoo-Li
Rimowa opens its boutique store in Hangzhou MixC
Alexander Wang opened a pop-up in Shanghai IFC, showcasing its new “Bodywear” collection
Galeries Lafayette expands into Southern China with Shenzhen store
