عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Prada CEO Says it Aims to Double Business in China in Medium Term

A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar
A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar
TT
TT

Prada CEO Says it Aims to Double Business in China in Medium Term

A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar
A mannequin is pictured in a giant ornament in a Christmas display window at the Prada store on on 5th Avenue in Manhattan in New York City, US, December 5, 2023. REUTERS/Mike Segar

Prada has ambitions to double its business in China over the medium term, Gianfranco D'Attis, chief executive of the Italian luxury fashion house's flagship brand, said on Wednesday.
"That means increasing our investments," D'Attis said in a group interview in Shanghai.
Prada will have bigger stores, more local products and more events in China, he added.
D'Attis, a former Dior executive who took the helm of the Prada brand in January, also said that it hoped to develop a hospitality concept as part of its worldwide distribution strategy, including in China, possibly in 2024-2025, Reuters reported.
The group, whose brands also include classic English shoemaker Church's, reported a 10% rise in third quarter revenues in November, saying that a strong performance in Asia and Europe helped to compensate for weakness in the Americas.

Most Viewed

 
 
Fashion

Shein to Open Pop-up Store in South Africa to Woo More Shoppers

A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)
A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)
TT
TT

Shein to Open Pop-up Store in South Africa to Woo More Shoppers

A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)
A view of a Shein pop-up store at a mall in Singapore April 4, 2024. (Reuters)

Fast-fashion giant Shein, known for its $5 tops and $10 dresses, will open a pop-up store in Johannesburg, South Africa in August as the online retailer aims to expand its brand recognition in the country.

Shein, founded in China, and its rival Temu have aggressively expanded worldwide as online shopping has surged after the COVID pandemic. They have been accused of exploiting tax loopholes by exporting China-made products in small quantities to avoid higher duties.

Shein will open its pop-up store from Aug. 2-11 as an "exhibition space" for customers to try on trendy fashion and lifestyle products and order them online at a discount, the company said in its South African Instagram post on Tuesday.

Local influencers were tapped for a pre-opening marketing campaign.

Brick-and-mortar and online fashion retailers have urged South African regulators to impose a 45% import duty on all clothing item imports, no matter the price, to level the playing field. Shein, which is planning to go public in Britain, taps a network of largely China-based suppliers which take small initial orders and scale up based on demand.

A Shein spokesperson told Reuters the retailer is engaging with South African regulators to ensure its continued compliance with local laws.

"That said, such tax measures are not critical to the success of our business or the competitive prices we offer our consumers. We keep our prices affordable through our technology-based on-demand business model and flexible supply chain," the spokesperson added.