Italian luxury sneaker maker Golden Goose said that Chinese private equity firm HSG, formerly known as Sequoia Capital China, had become its majority shareholder after buying a stake from current owner Permira, reports Reuters. Singapore’s investment firm Temasek, alongside its subsidiary True Light, has also bought a minority stake in the Venice-based maker of sneakers that […]
Category: Consumer
Labubu mania appears to be ebbing as quickly as it surged, reports Bloomberg, driving a roughly 40% drop for Pop Mart International since its August peak. A disappointing US Black Friday and cooling resale demand have revived comparisons to the 1990s’ Beanie Babies bust, challenging the notion that Pop Mart could become China’s answer to Walt Disney or […]
China’s market regulator has warned that internet platforms demanding merchants offering the “lowest price across the internet” may face antitrust action, reports the South China Morning Post. This is the latest part of a campaign from Beijing to curb malpractice. The “lowest-price” requirement, where platforms bar merchants from selling cheaper elsewhere, is one of eight potential […]
Mannings, one of Hong Kong’s largest health and beauty chains, will cease all retail operations in mainland China, both online and offline, reports the South China Morning Post. This is part of the company’s strategy to adjust in the highly competitive market. In a letter to its members, Mannings China said its physical stores on the […]
Chinese consumers remain cautious on loosening their purse strings, with many inclined to hunt for bargains amid a gloomy economic outlook, according to a joint study by global consultancy Bain & Co and market research firm Kantar Worldpanel, reports the South China Morning Post. The report showed that the average selling price of fast-moving consumer […]