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.
Just three months after being acquired by new owners, Brooks Brothers is off to a fresh start under the aegis of Ken Ohashi and Michael Bastian, its new president and newly appointed creative director, respectively.
Luxury puffer jacket maker Moncler is betting heavily on younger consumers and the Chinese market to help sales bounce back from the coronavirus crisis, its boss said, seeing scope for a recovery in late 2021.
The California-based company, whose brand portfolio includes Cherokee, Hi-Tec, Magnum and Interceptor, has reported a 17% decrease in its third-quarter sales due to ongoing disruption caused by the Covid-19 pandemic.