Farfetch is rarely out of the news these days and it’s currently making headlines with its Q3 results. It's still loss-making, but appears to be riding the wave of the "paradigm shift in favour of online luxury".
H&M has named Leyla Ertur as its new Head of Sustainability, starting in the New Year. The role affects the fashion choices of millions, as news that the H&M chain's loyalty program now numbers over 100m members shows.
Alibaba Group Holding Ltd and Swiss group Richemont will invest $1.1 billion in online luxury fashion retailer Farfetch Ltd and its new Chinese marketplace, as online demand for luxury goods booms in the Asian country.
Over the weekend, crowds packed a former industrial warehouse in Beijing as the China Fashion Week got underway, with models strutting mask-less on a square runway and guests oblivious to social distancing norms.
Intertextile, Chic, PH Value and Yarn Expo, held on September 23-25, attracted up to 73,500 visitors. A sign that recovery has started, say the organisers, who boosted the online tools integrating the physical shows.
With the coronavirus having sent most of the world's luxury spending into a tailspin and China the only major economy expected to show growth this year, brands now depend more than ever on Chinese consumers for sales.