Shanghai Yuyuan Tourist Mart Group Co., which has operations spanning jewelry stores to cultural sites, is contemplating a second listing in Hong Kong, according to people familiar with the matter.
The company, already listed in Shanghai, may seek to raise more than $300 million in an offering, the people said, asking not to be identified because the matter is private. Considerations are ongoing and no concrete decisions have been made, the people said.
Representatives for Shanghai Yuyuan and Fosun didn’t immediately respond to requests for comment.
Shanghai Yuyuan’s businesses span retail, fashion, consumer goods and cultural tourism. It’s controlled by tycoon Guo Guangchang via Shanghai Fosun High Technology Group Co., Shanghai Fosun Industry Investment Ltd. Co. and other Fosun-affiliated entities acting in concert.
The company was formed in the 1980s as an operator of shops in Yu Garden, a popular tourist landmark near the City God Temple in the old city of Shanghai. Yu Garden dates back to 1559, according to its website.
Guo is striking on a series of strategic moves to consolidate his hospitality empire. Fosun Tourism Group, the owner of luxury resort chain Club Med SAS, offered to buy back its Hong Kong-listed shares from minority holders as it seeks to boost growth as a private company.
Several mainland-listed companies have listed shares in Hong Kong or are exploring the possibility, not least the world’s biggest electric-vehicle battery maker, Contemporary Amperex Technology Co. Ltd. Others include Huawei Technologies Co. partner Seres Group Co., Eastroc Beverage Group Co., and condiment maker Foshan Haitian Flavouring & Food Co., Bloomberg News has reported.
Shanghai Yuyuan’s mainland-listed shares are down about 6% this year, giving the company a market value of CHY23.5 billion ($3.2 billion). Bloomberg reported earlier this month that Shanghai Yuyuan was considering raising up to CHY300 million via short-term bonds. The company’s net income was CHY1.16 billion in the first nine months of last year on CHY36.1 billion in revenue.
LVMH has no plans to relocate the luxury conglomerate, said Bernard Arnault, its billionaire chief executive officer, after remarks he made critical of France drew a backlash at home.
“I’ve obviously never said we would relocate the LVMH group,” Arnault said in a post on the company’s X account Friday. When he voiced discontent with France at an earnings presentation on Tuesday he only wanted to sound an alarm over tax measures that he deems will be “counter productive,” he added.
“What I said is that the tax measures that are being considered are an incentive to relocate, since they’re a tax on Made in France,” he said.
Arnault said on Tuesday that plans to raise corporate taxes in France are “a great idea to encourage people to relocate,” contrasting the atmosphere in his native country to the optimism he sees in the US following Donald Trump’s election as president.
“There’s a different mood” between the two countries, the billionaire told reporters on the sidelines of LVMH’s annual results, at one point comparing his return to France to a cold shower.
In an interview on RTL radio Friday, Sophie Binet, leader of the French union CGT, likened comments like Arnault’s to a sign that “the rats are leaving the ship.”
Arnault, in his post on Friday, said LVMH is “proud to employ directly and indirectly some 200,000 people in France.”
Iceberg Jeans, the iconic streetwear line by Italian label Iceberg, is back. Under creative director James Long, the Iceberg Jeans line embodies a vibrant state of mind: fun, inclusive, contemporary, and accessible. Besides denim, the new collection includes outerwear, knitwear, tailored items, casual wear and accessories.
“I’ve always wanted to give Iceberg Jeans a new lease of life,” said Long, the creative director at Iceberg. “The brand has a unique energy, and like everything that Iceberg represents, it’s always about looking to the future with optimism. I love these designs, and I hope that others too will appreciate them and make them part of their everyday lives.”
Iceberg Jeans debuted in 1986, soon emerging as a bold brand bringing Italian design, with its mix of playfulness and wearability, to the world. Its success was fuelled by word of mouth, and by campaigns that have become pop culture icons, featuring celebrities such as Lil’ Kim and Paris Hilton. The new collection refreshes the positive essence of Iceberg Jeans’s heritage while looking to the future. The Iceberg Jeans Fall 2025 collection will be available at selected wholesale partners, Iceberg stores and online from June 2025.
Experimentation and innovation were the name of the game on the last day of Paris Haute Couture Week. Emerging couturiers took centre stage on Thursday, like Peet Dullaert, 35, from the Netherlands, and Miss Sohee, 28, from Korea. The latter staged her maiden couture week show, as a guest on the event’s official calendar. Dullaert and Miss Sohee unveiled Spring/Summer 2025 collections characterised by contrasting styles.
Dullaert, a Paris-based Dutch designer, showed for the first time at Paris Haute Couture Week exactly a year ago. In his third Parisian show, he juxtaposed glamourous looks with more everyday ones, like the suits and trousers sets or the black tweed maxi coat, worn back-to-front with the cuffs, pockets and buttons at the rear, which could morph into an evening dress if needed.
Dullaert’s couture looks were made from bodysuits and playsuits in tight stretch fabric, on which he added long, sheer flared skirts decorated with geometric patterns embroidered with gems, or made with swathes of silk draped directly on the body, giving the models real freedom of movement. The feeling of freedom was heightened by the use of a wrinkled high-performance fabric developed by the label.
Other looks were covered with thin tassels lined with sequins, or with crystals, with draped white and black tulle, taffeta and other glimmering silks. Dullaert’s looks were characterised by flowing volumes and silhouettes, but he didn’t shy away from intervening decisively in the garments’ construction, for example baring a shoulder or cutting his dresses with long slits along the legs.
The couture show by Miss Sohee, real name Sohee Park, was eagerly awaited. The London-based Korean designer showed twice before in Paris, and was a hit on the Milanese runways in February 2022, backed by Dolce & Gabbana. She pulled out all the stops in Paris, immersing her guests in a magical universe where eras and bold silhouettes mixed spectacularly, showcased inside the gilded halls and under the majestic chandeliers of the Pozzo di Borgo palace.
Miss Sohee’s ladies seemed to be ready for a grand ball with their shimmering, vibrantly coloured crinoline dresses, satin sheath dresses glittering with pearls, and statement coats whose long trains were ornamented with embroidered bucolic scenes, like a golden peacock or floral branches, rich in crystals and sequins. Looks worthy of the Venice Carnival.
Botticelli’s Venus seemed to have inspired Miss Sohee, scallops and seashells being among the key elements in her collection. A large shell rose like a fan at the back of a corset which extended into a long, faded-pink silk skirt. Elsewhere, shells encased the hips in two short bustier dresses in python and crocodile-effect leather, or added length to a bustier entirely decorated with gems that was sewn onto a tulle top dotted with mother-of-pearl drops.
Shells embroidered in small patterns featured on a silk duchesse dress, and more shells in silver pleated fabric turned into a micro hooded jacket over a Fantômas-style black velvet jumpsuit, with a double row of white pearls draped around the waist.
Nothing seemed too precious and extravagant for Miss Sohee’s ladies, who also wore more contemporary outfits consisting of lace jumpsuits, miniskirts and laced thigh-high boots. Park founded her label in 2020, after studying at Central Saint Martins in London, and her customers include scores of celebrities, among them names like Cardi B. and Bella Hadid.