Connect with us

Fashion

Hong Kong December retail sales value falls 9.7% from a year earlier

Published

on


By

Reuters

Published



February 3, 2025

Hong Kong’s December retail sales by value fell by 9.7% from a year earlier, reflecting the impact of residents’ increased outbound trips during the holidays, government data showed on Monday.

Reuters

Sales fell to HK$32.8 billion ($4.21 billion), a tenth month of declines after a 7.3% drop in November.

“The near-term performance of the retail sector would continue to be affected by the change in consumption patterns of visitors and residents,” a government spokesman said, adding various measures by Beijing to boost the mainland economy and the Hong Kong government’s efforts to promote tourism would boost sentiment.

Sales fell despite a rise in tourist numbers, as shoppers spent less and fewer visitors from mainland China stayed over.

In volume terms, December retail sales fell 11.5% from a year earlier, compared with a revised 8.4% decline in November.

For the whole of 2024, total retail sales value decreased 7.3% compared to the same period in 2023, while the volume of total retail sales fell 9.0%, according to provisional estimates.

China eased visa restrictions for Shenzhen residents visiting Hong Kong effective Dec. 1.
December visitor arrivals stood at 4.26 million, up 8.3% from the same month a year ago, data from the Hong Kong Tourism Board showed. That compared to 3.57 million in November, 4.09 million in October and 3.06 million in September.

The number of mainland Chinese visitors stood at 3.10 million in December, up 5.2% from a year ago. That compared to 2.56 million in November, 3.14 million in October and 2.29 million in September.

For the whole of 2024, total visitor arrivals stood at 44.5 million, up 30.9% from 2023.
Sales of jewellery, watches, clocks and valuable gifts fell 13.8% in December year-on-year after a 4.2% decline in November.

Sales of clothing, footwear and allied products dropped 10.2% in December after a 5.2% decline in November.
 

© Thomson Reuters 2025 All rights reserved.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Fashion

Bruno Sialelli joins Phoebe Philo as head of ready-to-wear design

Published

on


Translated by

Nicola Mira

Published



February 3, 2025

Phoebe Philo has beefed up its design team by hiring Bruno Sialelli. The label by the iconic British designer, who had long been in charge of style at LVMH-owned Céline, launched online in October 2023 and seems to be progressing well, having recently tapped Sialelli, Lanvin’s former creative director, as head of design for its ready-to-wear collections.

Bruno Sialelli at his last show for Lanvin, in March 2023 – © ImaxTree

“I am pleased to announce that I am now head of design ready-to-wear at Phoebe Philo,” Sialelli announced in a rather understated way on social media. The French designer graduated from the Studio Berçot in 2010, and has so far had a strong career with various luxury labels, between menswear and women’s ready-to-wear.

Prior to being appointed creative director of Lanvin in 2019, a post he held until April 2023, Sialelli was head of menswear design at Loewe, where he worked with Jonathan Anderson. He had previously worked at Paco Rabanne, Acne Studios and Balenciaga, mostly in womenswear.

After a nearly six-year absence, Philo made a much-publicised come-back in late 2023, commercialising her own label initially only online, then via some of the world’s top fashion retailers, each time to great acclaim. She kickstarted her label’s project in September 2020, setting it up together with her husband, real-estate entrepreneur Maximilian Wigram. LVMH has bought a stake of just under 30% in Phoebe Philo.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Ferragamo and Marco Gobbetti to part ways next month

Published

on


Published



February 3, 2025

Salvatore Ferragamo announced late on Monday that its CEO, the ex-Burberry chief Marco Gobbetti, is to step down from the helm of the company and the board by “mutual agreement”.

Marco Gobbetti

The company said the board met on Monday under the chairmanship of Leonardo Ferragamo and along with Gobbetti, agreed “to mutually terminate their employment and directorship relationships, effective as of the date of approval of the draft financial statements for the year 2024, March 6 2025”.

The chairman thanked Gobbetti for setting up and developing “a significant brand renewal and evolution activity, as well as significant product innovation and brand positioning, while also carrying out important work on the organisational evolution of the company and the group, which is the basis for continuing the renewal strategy”.

There’s no successor waiting in the wings and the Italian firm has begun “the process of selecting a candidate for the position of CEO who will be in charge of continuing the activities of brand renewal and heritage enhancement in order to strengthen brand evolution”.

Between the CEO’s departure date next month and the arrival of the new chief executive, whenever that is, the chairman will be granted executive powers. He “will propose a distribution of proxies and will be supported by a transition chairman advisory committee composed of experts with consolidated experience in the sector of business who have already worked in top management roles within the company”. 

That select group will include James Ferragamo, Ernesto Greco and Michele Norsa (who will take on the role of special chairman advisor).

Norsa was the longstanding CEO of the business earlier this century and left the role before returning after a few years as it navigated the problems caused by the pandemic. He left again just ahead of Gobbetti’s arrival.

Gobbetti joined in January 2022, after having led Burberry as successor to Christopher Bailey and initialising its ultra-luxury strategy.

Ferragamo’s sales grew in 2022 but a decline started in 2023 and its sales and profits continued to fall during 2024.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Fashion

Trade show Pitti Filati 96 visited by 2,850 buyers, UK and US attendance rises

Published

on


Translated by

Nicola Mira

Published



February 3, 2025

Despite the far from positive trend the yarn spinning sector is experiencing, with a 6.2% slump expected in 2024, Italian producers are staying positive, their upbeat attitude evident at the Pitti Filati 96 trade show. The event was held in Florence on January 28-30 at the Fortezza da Basso venue, gathering together 116 exhibitors and 2,850 buyers, 1,050 of whom came from 50 countries outside Italy.
 

Pitti Filati 96

Attendance was up from the UK, the USA, Russia, Portugal and Belgium, while the number for buyers from Switzerland, Turkey and China posted a slight decrease. In absolute terms, France topped the ranking, followed by the UK, the USA, Germany, Spain, Switzerland, Turkey, Japan, China, Russia, Portugal, and Belgium.
 
“Once again, Pitti Filati has reaffirmed its role as the industry’s benchmark event. It is the only platform that offers all levels of the supply chain the highest standards of research and creativity in the world of yarns,” said Raffaello Napoleone, CEO of show organiser Pitti Immagine. “At the Fortezza, with the new collections and company innovations, we witnessed the exceptional adaptability that the yarn manufacturing sector is deploying to meet market demands and support its evolution. These three days of intense business revealed a widespread sense of confidence, with industry professionals anticipating a trend reversal in fashion by Spring/Summer 2026 – early signs of which were already visible in this presentation cycle,” he added.

“These three days were filled with energy and creative interaction for all industry professionals. It was an essential and irreplaceable opportunity for dialogue, a mutual push towards research and creativity across all phases of knitwear production,” said Agostino Poletto, managing director of Pitti Immagine.

“The same sentiment was echoed in the feedback we gathered from buyers – including design teams from the most prestigious Italian and international fashion brands – as well as from exhibitors at the Fortezza. A major contribution in this direction came from the ‘Spazio Ricerca – Body of Light’ section curated by Angelo Figus, Carrie Hollands, and Manuela Sandroni – once again an unmissable destination for insights into future trends. Other pivotal contributions came from the ‘CustomEasy’ and ‘KnitClub’ sections, with their in-depth exploration of customisation and knitting techniques. Likewise, the ‘Vintage Selection’ section – the show within the show dedicated to vintage fashion – proved to be an endless source of inspiration for the design teams attending [Pitti] Filati,” added Poletto.

Copyright © 2025 FashionNetwork.com All rights reserved.



Source link

Continue Reading

Trending

Copyright © Miami Select.