Following a challenging year, Deloitte’s latest Global Powers of Luxury Goods report shows that the revenues generated by the world’s top 100 luxury companies dropped from $281 billion in 2019 to $252 billion in 2020.
Adrian Cheng has launched a new campaign: #LoveWithoutborders, through which he will be donating 1.5 million surgical masks to France, Italy and the United Kingdom. Plus, he is developing new NanoTechnolgy masks.
Hong Kong retail sales are expected to post their steepest fall on record in January at around 30%, while tourist arrivals in February fell to under 3,000 a day on average, from around 100,000 in January.
Months of increasingly violent protests in Hong Kong are taking a growing toll on the city's economy, weighing on confidence and scaring away tourists from one of the world's most vibrant shopping destinations.
France accounts for over one quarter of the total sales of the top 100 luxury corporations worldwide according to Deloitte’s 2019 report, with 9 groups listed and LVMH, L'Oréal, Kering and Chanel in the top 10.
Chow Tai Fook Jewellery Group Ltd on Thursday logged its best-ever half year since 2014, but warned of lower growth momentum in the second half due to Sino-U.S trade tensions and foreign exchanges fluctuations.