Hong Kong’s annual retail sales rose 6.5% in November in value terms for a seventh month of gains, boosted by a sustained recovery in momentum, government data showed on Friday.
A view of Hong Kong – Reuters
Sales stood at HK$33.7 billion ($4.33 billion). In October, retail sales had risen 6.9% over the corresponding month a year before. In volume terms, November retail sales rose 4.4% from a year earlier, versus a rise of 5.3% in October.
For the first 11 months of 2025, the value of total retail sales rose 0.4% compared with a year earlier, while volume fell 0.9%. “Looking ahead, the gradual improvement in local consumption sentiment amid sustained economic growth, coupled with the vibrant growth in inbound visitors, will continue to benefit retail businesses,” a government spokesperson said.
November visitor arrivals surged to 4.19 million, up 17.4% on the year, figures from the Hong Kong Tourism Board showed, with visitors from mainland China accounting for 3.04 million, an increase of 18.9% in their numbers year-on-year.
Sales of jewellery, watches, clocks, and valuable gifts rose 3.6% in November on the year after October’s revised increase of 9.4%. Sales of clothing, footwear, and allied products increased 2%year-on-year in November following a rise of 0.9% in October.
Nicolas Ghesquière and Ralph Toledano were among leading figures in French fashion who have been recognised in the nation’s annual New Year’s honours list.
Nicolas Ghesquière has held the role of women’s creative director at Louis Vuitton since 2013
Ghesquière, the women’s creative director of Louis Vuitton, was named Knight of the Legion of Honour, a high-level decoration in France, in the official list released on Thursday.
While Toledano, the former president of Fédération de la Haute Couture et de la Mode (FHCM), was promoted to be Officer of the Legion of Honour. He had already been made a Knight in 2003.
Reacting to the news, Toledano told Fashion Network: “This promotion is a new evidence of the exceptional support by the Macron administration to French fashion.”
“Fashion is my passion, and this award comes in recognition of the accomplishments realised with amazing brands and designers. I consider that creativity must always be front and centre, made by exceptional teams, to whom I owe everything,” added Toledano who in a storied career has previously been president of the house of Karl Lagerfeld; CEO of Guy Laroche, where he appointed Alber Elbaz designer; and of Chloé during Phoebe Philo’s most beautiful moments of invention.
“I think that it also rewards the achievements of my tenure as president of the Federation de la Couture et de la Mode, and notably the merger between IFM and l’ École de la Chambre Syndicale de la Couture Parisienne (FHCM’s predecessor) into l’ Institut Français de la Mode,” concluded Toledano, currently chairman of Victoria Beckham.
The list also revealed that three noted female figures in French luxury had also been promoted to Knight. Céline Brucker, general manager of L’Oréal France; Nathalie Célia-Kock-Chevalier, managing director of Bucherer France; and Diana Widmaier Picasso, co-founder and artistic director of jewellery house Mené.
Saks Global Enterprises’ chief executive officer Marc Metrick is stepping down from his role as the cash-strapped high-end retailer considers its restructuring options, including a Chapter 11 bankruptcy filing.
Marc Metrick spent almost three decades at Saks – Saks x Loewe
Metrick will be replaced by the department-store chain’s executive chairman Richard Baker, according to a statement Friday. Baker will hold both the CEO and chairman roles.
Metrick is leaving the company in order to pursue new opportunities, according to the statement.
The switch-up comes as Saks is weighing a potential bankruptcy after struggling financially over the past year despite raising billions of dollars from investors to finance a turnaround plan centred on the acquisition of Neiman Marcus.
Just days ago, Bloomberg reported that Saks is seeking to negotiate a deal with creditors after skipping an interest payment totalling more than $100 million that was due to bondholders. The company is contemplating raising emergency funds, selling assets or, as a last resort, filing Chapter 11 bankruptcy.
A filing would come just months after Saks restructured its debt in June, imposing steep losses on some creditors and taking on new, senior debt in an effort to fund what it called a “transformation strategy.”
Creative director Jonathan Anderson’s recoding of Dior’s archive is candidly and theatrically shot by David Sims in the brand’s new global campaign for Spring-Summer 2026. This season, Dior has gathered an eclectic cast with actors Greta Lee, Louis Garrel, and Paul Kircher, footballer Kylian Mbappé, and models Laura Kaiser, Sunday Rose, and Saar Mansvelt Beck.
Kylian Mbappé, shot by David Sims for Dior – Dior / David Sims
At once casual and theatrical, the campaign harnesses body language, ambience, and environment to share Anderson’s character-driven interpretation of Dior’s signature tailoring and nostalgic glamour. With a mix of colour and black and white images conceived as visual sketches, Sims highlights the garments’ architecture while creating a sense of calm.
Styled by Benjamin Bruno, the campaign presents Anderson’s fresh take on Dior’s design archive as a relaxed, wearable, and versatile wardrobe. Red carpet ready looks are shot with theatrical flair, giving the impression of an actor rehearsing for an upcoming role at home, while more casual ensembles mix textures to create a lived-in look.
Greta Lee, shot by David Sims for Dior – Dior / David Sims
Poppy Bartlett’s set design presents an aristocratic setting with parquet flooring, linens, boiserie, and eclectic yet minimalist furniture choices. The uncluttered backdrops are designed to keep the images concise and meaningful, encouraging the models’ personalities to do the talking.
“The Dior clique appears to embrace a liberated sense of style, willing to play with clothing and accessories,” announced the brand in a press release. “Style is how these individuals conduct themselves: the intuitive sense they have when their appearance feels right, and how they dress up each day to become a new character.”
Dior’s lived-in styling creates a ‘model off duty’ feel – Dior / David Sims
The campaign also highlights Dior’s latest It bags, from the tassel-covered Lady Dior to the soft Dior Crunchy along with the Dior Cigale, featuring its signature mini bow, and the Diorly. Some new iterations of these handbags are given their own frame in the campaign, hanging from a music stand or casually placed on an ornate table.