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Over 300 articles

China
Beijing prepares new generation of duty-free shops

Two years after giving out new duty-free operating licences on the island of Hainan, China's government is preparing another revolution in tax-free luxury shopping: duty-free shops in the hearts of cities. [...]

Published on 22/12/2022 at 06:30 GMT Reading time 2 minutes

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Entourage

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China Duty Free Group Co
Covid-19
Wangfujing Group

France
China crisis pushes LVMH into major rethink about its retail and duty-free business

LVMH is pondering whether to divest its Paris department store La Samaritaine from its duty-free retailer DFS. That could advance Bernard Arnault's long-held plan to sell DFS, which has been loss-making since the pandemic curbed Chinese consumers' foreign travel.

Subscribers only Houses 28.11.2024

France
LVMH duty-free boss announces departure as retail CEO retires

Less than three weeks after Chris de Lapuente said he was stepping down as boss of LVMH's selective retailing division, the man he recruited to take charge of duty-free, Benjamin Vuchot, is also leaving the group.

Subscribers only Houses 17.10.2024

China
Luxury brands to finance Palace of Versailles show in Forbidden City

The Palace of Versailles is negotiating with luxury sponsors to support a major show the French monument will stage this spring in China's former imperial palace. The exhibition will be the highlight of the 60th anniversary of diplomatic relations between Paris and Beijing.

Subscribers only Entourage 01.02.2024

Spotlight | Saudi Arabia, Switzerland
The secret negotiations paving the way for Richemont's rise in Saudi Arabia

Just as major luxury brands are jostling for a foothold in the coveted Saudi market, Swiss giant Richemont has signed a major agreement in the country. The contract opens the door to the local market, as well as offering an opportunity to tap into the stream of wealthy visitors making Hajj pilgrimages to the kingdom.

Subscribers only Houses 27.04.2023

Swiss group Richemont will open a TimeVallée shop at a strategic location in Saudi Arabia.

China, France
Laundering through luxury: French authorities fear revival of 'daigou' technique as Chinese tourists return

The networks involved in a sophisticated laundering technique that relies on artificially VAT-free luxury purchases made in Europe and resold in China lay dormant during the Covid-19 pandemic. But they may soon spring back to life as EU borders reopen to Chinese tourists.

Subscribers only Entourage 16.02.2023

Europe
Which luxury houses are selling off their unsold goods online?

Ready-to-wear brands are the main suppliers of online sales sites and often sell their goods there, but luxury houses have historically been reluctant to follow suit, fearful of devaluing their image. Now several high-end names have decided to quietly test those waters on sales site The Bradery.

Subscribers only Entourage 26.01.2023

European Union
New European allergen rules trip up cosmetic industry giants

After nearly 10 years of negotiations with lobbyists, the European Commission is expected in early 2023 to finalise a list of allergens that must be declared on ingredient labels for fragrance and cosmetic products. The new regulations will target 80 substances and require companies to conduct costly tests that few laboratories can perform.

Free access Houses 15.12.2022

Spotlight | Saudi Arabia
LVMH, Kering, Richemont and Rolex face off in Riyadh, luxury's new El Dorado

The last Arab country under-equipped in malls and luxury shops, Saudi Arabia is progressively opening its doors to perfumes, jewellery and cosmetics, under Crown Prince Mohammed bin Salman's guidance. The industry's biggest names are jockeying for position.

Free access Houses 27.10.2022

Spotlight | China
Warehouse war erupts in duty-free paradise Hainan

As the only remaining shopping haven in a mostly closed China, the tax-free island of Hainan has become the world's busiest sales point for luxury giants, even in the midst of the country's recent new wave of Covid-19.

Subscribers only Entourage 20.10.2022

The tax-free island of Hainan, located at the tip of the Leizhou Peninsula in the Gulf of Tonkin.

Spotlight | Russia
Luxury sector eludes effort to seal Ukraine sanctions loopholes

After Moscow annexed four Ukrainian regions last week, the European Union and the United States sought to tighten the grip of sanctions already in place against Russia, particularly over the trade in luxury goods. But at the eleventh hour, brands that have long prospered from their Russian clientele have managed once more to slip through the cracks in Europe.

Free access Entourage 06.10.2022

One of the first packages of EU sanctions banned luxury groups from doing business in Russia.

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