De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Japan
Retail
Fast Retailing Hikes Annual Forecast After Quarterly Profits Surge
The Uniqlo owner cited robust sales growth globally that helped it absorb US tariffs.
Fast Retailing Hikes Annual Forecast After Quarterly Profits Surge
The Uniqlo owner cited robust sales growth globally that helped it absorb US tariffs.
Retail
Nigo’s Human Made Boosts Tokyo IPO Price
The streetwear brand has increased the price of its initial share sale following strong investor demand.
Nigo’s Human Made Boosts Tokyo IPO Price
The streetwear brand has increased the price of its initial share sale following strong investor demand.
Retail
Uniqlo Owner Fast Retailing Posts Record Profit for Fourth Year, Beating Forecasts
The Japanese retail giant reported record annual profits, driven by strong sales in Japan and the US.
Uniqlo Owner Fast Retailing Posts Record Profit for Fourth Year, Beating Forecasts
The Japanese retail giant reported record annual profits, driven by strong sales in Japan and the US.
Global Markets
Japan’s Department Store Shares Lag as Tourist Splurge Slows
Low confidence stemming from economic uncertainty has crimped tourist budgets with data compiled by the Japan Department Stores Association showing tax-free inbound sales at over 80 department stores across the country fell by 41 percent in May from a year earlier.
Japan’s Department Store Shares Lag as Tourist Splurge Slows
Low confidence stemming from economic uncertainty has crimped tourist budgets with data compiled by the Japan Department Stores Association showing tax-free inbound sales at over 80 department stores across the country fell by 41 percent in May from a year earlier.
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Global Markets
Why Japanese E-Commerce Giant Rakuten Is Betting Big on AI
The e-tailer’s head of fashion Ryo Matsumara sees its recent investments in semantic search and other artificial intelligence features as key to driving sales growth in the country’s lucrative but lagging online luxury market.
Why Japanese E-Commerce Giant Rakuten Is Betting Big on AI
The e-tailer’s head of fashion Ryo Matsumara sees its recent investments in semantic search and other artificial intelligence features as key to driving sales growth in the country’s lucrative but lagging online luxury market.
Beauty
The Japanese Manicurist Taking on Plastic Pollution, One Nail at a Time
Tokyo-based nail technician Naomi Arimoto uses umigomi, or “sea trash,” to create intricate nail art designs, hoping to put environmental issues at the forefront of her customers’ minds.
The Japanese Manicurist Taking on Plastic Pollution, One Nail at a Time
Tokyo-based nail technician Naomi Arimoto uses umigomi, or “sea trash,” to create intricate nail art designs, hoping to put environmental issues at the forefront of her customers’ minds.
Global Markets
Japan’s Secondhand Fashion Boom Is Bigger Than the Weak Yen
While the yen’s plummet drove a rush of international shoppers looking for bargains, Japan’s famously robust secondhand fashion market is set to keep growing even as the currency bounces back.
Japan’s Secondhand Fashion Boom Is Bigger Than the Weak Yen
While the yen’s plummet drove a rush of international shoppers looking for bargains, Japan’s famously robust secondhand fashion market is set to keep growing even as the currency bounces back.
Luxury
How Japan Is Creating a New Headache for European Luxury
Tourists are flocking to Japan to scoop up high-end clothes and handbags at a discount thanks to a weak yen.
How Japan Is Creating a New Headache for European Luxury
Tourists are flocking to Japan to scoop up high-end clothes and handbags at a discount thanks to a weak yen.
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Global Markets
Splurging by the Wealthy Is Polarising Japan’s Retail Stocks
The top three operators by market capitalisation, Isetan Mitsukoshi Holdings Ltd., Takashimaya Co. and J. Front Retailing Co., which operates the Daimaru and Matsuzakaya chains, rose by 55 percent on average in the past year, outperforming the broader Topix’s 18 percent.
Splurging by the Wealthy Is Polarising Japan’s Retail Stocks
The top three operators by market capitalisation, Isetan Mitsukoshi Holdings Ltd., Takashimaya Co. and J. Front Retailing Co., which operates the Daimaru and Matsuzakaya chains, rose by 55 percent on average in the past year, outperforming the broader Topix’s 18 percent.
Global Markets
What’s Behind Japan’s Luxury Boom?
International tourists cashing in on a weak yen, along with resilient domestic spending and retail upgrades, are behind the latest sales spike in the Japanese luxury market.
What’s Behind Japan’s Luxury Boom?
International tourists cashing in on a weak yen, along with resilient domestic spending and retail upgrades, are behind the latest sales spike in the Japanese luxury market.
Global Markets
Japan’s Next Emerging Designer Wave
From Viviano Sue to Soshi Otsuki, a new generation of Tokyo-based designers are preparing to make their international breakthrough.
Japan’s Next Emerging Designer Wave
From Viviano Sue to Soshi Otsuki, a new generation of Tokyo-based designers are preparing to make their international breakthrough.
Global Markets
Why Japanese Beauty Giants Are Buying Up Global Brands
M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.
Why Japanese Beauty Giants Are Buying Up Global Brands
M&A is gathering pace in Japan’s beauty industry as local conglomerates look to diversify their portfolios beyond Asia and target high-growth categories overseas.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.