Industry News

Japan’s Outdoor & "Gorpcore" Lifestyle Market: Where Function Meets Fashion

Why technical outdoor apparel is becoming a core part of everyday urban style in Japan

Japan’s fashion landscape continues to blur the line between outdoor performance and everyday urban wear, driven by the rise of gorpcore and technical fashion aesthetics. In cities like Tokyo and Osaka, outdoor-inspired clothing has evolved into a daily uniform, combining practicality with minimalist design.

A defining characteristic of the Japanese market is its strong preference for quality, craftsmanship, and long-term usability. Consumers are drawn to technical garments that offer durability and performance, from weather-resistant outerwear to versatile layering systems. These localized lines highlight the importance of cultural adaptation and demonstrate how global brands refine their identity for this unique market.

Retail dynamics in Japan further reinforce this premium positioning. Consumers are highly detail-oriented and tend to engage deeply with products before purchasing, placing value on fabric innovation, product storytelling, and brand heritage. Both physical retail and e-commerce channels support this behavior, offering curated experiences that emphasize quality over volume. For outdoor and sportswear brands, this creates an environment where technical credibility and thoughtful branding can strongly influence market entry success.

As gorpcore continues to establish itself as a long-term lifestyle movement, Japan stands out as a market where outdoor functionality seamlessly integrates into everyday fashion. For international brands, success lies in balancing performance with subtle design, while embracing localization strategies such as exclusive product lines and collaborations. This positions Japan not only as a key market in Asia, but also as a benchmark for how technical fashion can evolve into a cultural standard.

Key takeaway: Japan’s gorpcore-driven shift shows that outdoor performance wear is becoming everyday fashion, creating strong opportunities for premium European brands that can combine technical innovation with localized, lifestyle-focused positioning.

Vietnam Strengthens Its Role in Global Apparel Manufacturing

Southeast Asia continues to attract global fashion brands seeking diversified supply chains

Vietnam is further solidifying its position as one of the world’s leading apparel manufacturing hubs as global brands continue to diversify their sourcing strategies across Asia. With competitive production costs, strong export infrastructure, and a skilled workforce, the country has become an increasingly important partner for international fashion and sportswear companies.

The country’s textile and garment industry has seen steady growth over the past decade, becoming a major contributor to Vietnam’s export economy. Apparel exports reach tens of billions of dollars annually, supplying major consumer markets such as the European Union.

A key driver behind this growth is the ongoing shift in global supply chains. As companies aim to reduce reliance on single-country production models, Southeast Asia has gained attention as an alternative manufacturing base. Vietnam, in particular, benefits from a network of free trade agreements that improves access to global markets.

At the same time, the country’s manufacturing sector is gradually moving toward higher-value production. Investments in automation, improved supply chain management, and sustainability initiatives are helping Vietnamese factories meet the evolving standards of global fashion brands.

Key takeaway: Vietnam’s expanding manufacturing capabilities and strong trade integration are reinforcing its role as a critical apparel sourcing hub for international brands.

Global Sportswear Brands Gear up For China’s Outdoor Boom

Rising interest in nature, wellness, and lifestyle sports is reshaping China’s sportswear landscape.

China’s outdoor category is moving from niche to mainstream, creating fresh momentum for global and domestic sportswear brands alike.

Rising interest in wellness, nature, and experience-led lifestyles is driving demand for hiking, camping, trail running, and winter sports. What accelerated during the pandemic has evolved into a broader lifestyle shift, particularly among younger consumers who see outdoor activities as both recreation and self-expression.

This shift is reshaping competitive dynamics. International brands are expanding technical assortments and localizing product strategies to capture growing demand, while investing in storytelling that connects performance with lifestyle relevance. At the same time, domestic players are leveraging speed, price positioning, and digital fluency to strengthen their foothold in key segments.

Growth is also being shaped by channel evolution. E-commerce, social commerce, and content-led engagement are playing a central role in product discovery and conversion, while physical retail remains important for experience and brand building. Success increasingly depends on integrating performance credibility with cultural relevance across touchpoints.

Key takeaway: China’s outdoor boom reflects a structural change in consumer priorities rather than a short-term spike. Brands that combine technical innovation with strong localization and digital engagement will be best positioned to capture sustained growth in the category.

Asia-Pacific Emerges as the Primary Growth Engine for Consumer Products

Scale, diversity, and rapid transformation are reshaping where global consumer brands find growth.

Asia-Pacific is on track to surpass North America as the world’s largest contributor to global private consumption by 2035. Rising incomes, urbanization, and population growth are reinforcing the region’s role as a critical growth engine for consumer products companies.

Growth across the region remains uneven. India continues to deliver strong momentum, while parts of Southeast Asia are slowing. China, despite moderated expansion, remains the largest contributor and is showing early signs of stabilization, supported by online channels and shifting consumer demand.

Consumer behavior is increasingly fragmented. Rather than broad trading down, spending patterns vary by market and category, with premiumization and polarization emerging alongside value-driven choices as consumers make deliberate trade-offs.

Channel dynamics are evolving rapidly. While offline retail remains dominant in many markets, e-commerce continues to drive growth, with social commerce, quick commerce, and AI reshaping the path to purchase.

Local brands are also strengthening their position. Faster innovation, sharper consumer insight, and digitally enabled routes to market are allowing regional players to compete more effectively with multinational brands, both locally and globally.

Key takeaway: Asia-Pacific’s growth opportunity is defined by diversity, not uniformity. Brands that adopt market-specific strategies and master emerging channels will be best positioned for the region’s next phase of growth.

Department Stores at a Turning Point

The department store model is under pressure but it is far from disappearing.

Department stores once played a central role in global retail, particularly during peak shopping periods. Today, their position has shifted significantly as consumer spending continues to move toward more focused, specialized, and digitally enabled retail formats.

Rather than a short-term downturn, the decline reflects a broader structural change in how consumers shop. Spending that previously flowed through department stores is increasingly captured by online marketplaces, off-price retailers, and category specialists offering clearer value propositions and stronger brand relevance.

Recent data suggests that the pace of decline is beginning to stabilize. Some department store groups have slowed share losses by refining assortments, improving execution, and focusing on formats that better match customer expectations. While this does not signal a broad recovery, it highlights that adaptation remains possible.

For brands, the shift does not mark the end of wholesale or third-party retail, but it does redefine its role. Retail partnerships are becoming more selective, with greater emphasis on clarity, collaboration, and environments that actively support brand positioning and conversion.

Key takeaway: Department stores are not disappearing, but their role in the retail ecosystem is changing. Brands that understand where consumer value is shifting, and align channel strategies accordingly, will be better positioned to navigate an increasingly selective retail landscape.

Asia–Pacific Consumer Sentiment Shows Stability as Spending Patterns Evolve

Consumer sentiment across Asia–Pacific is showing increasing stability as spending patterns continue to adjust across the region. While consumers remain selective, easing inflation and improving confidence in several markets are supporting a more constructive outlook toward 2026.

Across key Asia–Pacific markets, including China, South Korea, Japan, India, and Australia, confidence levels have generally improved compared to recent years. Rather than broad-based acceleration, consumer demand is being shaped by targeted categories, income differences, and shifting priorities, reflecting a market that is stabilizing and gradually recalibrating.

South Korea stands out with one of the strongest improvements in consumer sentiment. Political stability, recovering tourism, and positive financial market performance are supporting higher spending intent, particularly among higher-income consumers. This development is creating renewed opportunities in selected discretionary categories.

In China, consumer sentiment has remained broadly stable. Retail activity continues, while spending behavior is increasingly guided by value, quality, and relevance. Younger consumers, including Gen Z, remain comparatively more willing to spend, although purchasing decisions are becoming more deliberate and selective.

Japan is showing gradual but meaningful improvement. Consumer optimism has reached its highest level since the pandemic, supported by low unemployment and stronger financial markets. While overall spending remains conservative, travel—especially domestic travel—continues to perform well, signaling areas of sustained demand.

Key takeaway: Asia–Pacific’s consumer landscape is becoming more stable, with spending increasingly shaped by clear priorities. For brands operating in the region, growth opportunities will favor those that understand local market dynamics, adapt offerings to evolving consumer needs, and execute with relevance across key Asian markets.

Sportswear Brands Target Asia-Pacific for Continued Growth in 2026

Sportswear brands are entering 2026 with renewed momentum, as global players accelerate scaling strategies across Asia-Pacific. Investment activity, product innovation, and localized retail execution are positioning the region as a key growth driver for brands seeking to balance performance, lifestyle, and cultural relevance.

Recent moves illustrate this shift. Brands such as Zegna, The North Face, and Fila have strengthened their presence through strategic investments, high-performance product launches, and culturally driven activations in China. These initiatives reflect growing confidence in outdoor and performance-led categories as long-term engines of growth.

Retail speed and operational agility are also becoming decisive factors. Companies like Anta are expanding omnichannel capabilities to enable faster delivery and closer integration between physical stores and digital platforms, while newcomers such as Manduka are entering the market through community-focused retail formats that emphasize long-term brand building.

Beyond Asia, global expansion continues at pace. Lululemon has announced plans to enter multiple new markets in 2026, highlighting how flexible partnership models are enabling brands to scale efficiently across regions. At the same time, mixed results from players like Nike underline the importance of localized strategies and sport-led innovation in navigating uneven market conditions.

With Asia-Pacific expected to remain one of the fastest-growing sportswear markets into 2026, brands are likely to continue investing in localization, category expansion, and faster retail execution to capture the next phase of global demand.

Asia-Pacific Becomes Key Growth Market for Sportswear

After Q3 and Singles’ Day

Sportswear brands delivered strong third-quarter results in Asia-Pacific, with China standing out as the industry’s most important growth market. Many companiesreported solid double-digit gains across the region, and this strength continued through Singles’ Day, confirming Asia’s central role in driving global demand.

Several factors are powering this momentum. Consumers in China are spending more on premium activewear and sport-lifestyle products, while brands are investing in new stores, localized assortments and upgraded digital systems. Concept-driven retail spaces, community-focused sport hubs and faster AI-supported logistics are helping companies meet rising expectations for quality, convenience and service.

Fila’s Singles’ Day performance illustrates these trends. The brand topped Tmall’s sportswear and outdoor category for the first time, supported by strong interest in its down outerwear and retro footwear. Its use of AI to speed up deliveries, along with its focus on tennis and golf, shows how targeted positioning and improved service can quickly translate into stronger market results.

Across the industry, brands are moving in a similar direction: expanding their presence in China, refining product strategies for local consumers and adjusting leadership teams to support future regional growth.

With Q3 results and Singles’ Day outcomes showing consistent strength, Asia-Pacific, especially China, is expected to remain the fastest-growing sportswear market in 2026. Brands will likely continue investing in localization, digital tools and category innovation to capture the next wave of demand.

China's Active Lifestyle Market Booms: Premium, Local, and Specialized

According to the latest report by SGI Europe and Hot Pot China, Chinese consumers are increasingly investing in sportswear, outdoor apparel, and equipment, with the premium segment leading much of the momentum. Here are the five major trends shaping China’s active lifestyle landscape:

  1. Premiumization: Consumers are “trading up” for a healthier, higher-quality lifestyle. Premium outdoor apparel has grown with 49% in 2024, reflecting a growing willingness to pay more for superior products.
  2. Douyin Live Commerce: The live-commerce revolution continues to reshape the market. Sports footwear, in particular, is seeing strong net sales on Douyin.
  3. Local Brand Leadership: Domestic brands are taking center stage. Camel dominates the outdoor apparel segment, while Anta and Li-Ning are leading in running shoes, showcasing the strength and appeal of local powerhouses.
  4. Specialist Focus: Brands with a clear product focus are driving growth. Companies specializing in categories like running shoes or cycling apparel are carving out competitive advantages in a crowded market.
  5. Offline Experiences: Beyond transactions, consumers are seeking meaningful experiences. Community-building initiatives and lifestyle campaigns, such as On Running’s SOFT WINS events, illustrate how brands are connecting with customers beyond the product.

Key takeaway: China’s activewear boom is more than a short-term trend, it reflects a broader shift toward premiumization, specialized products, and immersive brand experiences, with both online and offline channels playing a crucial role.

Fashion Wholesale on the Rise

The wholesale channel is making a strong comeback in the fashion industry, with five trends shaping its evolution:

  1. Wholesale remains vital.
    Over half of brands (52%) report wholesale as their most profitable channel, accounting for 57% of total revenue and signaling a return to core distribution strategies.
  2. In-season buying accelerates.
    Shorter lead times are becoming the norm, with the average gap between order and shipment dropping from 263 days in 2019 to just 102 days in 2024. This helps retailers reduce unsold stock and respond quickly to consumer demand
  3. Tighter collections and evergreen staples.
    Brands are streamlining offerings: capsule collections now account for 37% of designs (up from 19% two years ago), while evergreen products have grown from 37% to 49% of gross merchandise value, balancing creativity with commercial certainty.
  4. Independent retail drives growth.
    Smaller retailers and concept stores are increasingly shaping wholesale transactions, rising from 49% in 2020 to 62% in 2025, especially in EMEA and APAC, highlighting the global appeal of indie retail.
  5. AI fuels smarter strategies.
    From demand forecasting to virtual merchandising, AI is moving beyond operational support to become a growth-driving tool for brands and retailers.


Takeaway: Fashion brands that embrace agility, leaner collections, evergreen products, independent retail channels, and AI-driven insights are best positioned to thrive in a faster, smarter wholesale landscape.

China’s Fashion Market in 2026: Trends, Shifts, and Strategic Implications

The 2026 outlook for China’s fashion market shows a more balanced and stabilising profile. Growth is slower, but China remains crucial for brands with clear positioning and disciplined execution. Sentiment among global fashion leaders is improving, with only 28% viewing China as “unpromising” (down from 41%). Market growth is expected at 1–3%, slightly higher for luxury at 2–4%. Opportunities favor brands that understand local consumer preferences.

Affluent households continue to expand, with a projected 6% growth through 2027. High-net-worth consumers intend to increase luxury spending (34% vs. 27% global average) and are becoming more selective, valuing heritage, creativity, and exclusivity. Sportswear and outdoor categories are growing strongly, driven by casualisation, wellness, and active lifestyles, especially among Gen Z and Millennials. Wellness is now a defining consumer identity, creating openings in athleisure and functional accessories.

Jewellery outpaces apparel, growing four times faster, while smart eyewear is emerging as a lifestyle-oriented category. Supply chains are shifting: US tariffs have reduced China’s apparel exports to the US by 30% since 2019, freeing capacity for European and other non-US brands. Alternative hubs like Cambodia gains share, but China remains unmatched in scale, quality, and ecosystem sophistication. Agility in pricing, sourcing, and partnerships is key to navigating trade uncertainty.

China is no longer an automatic growth driver, but success depends on stronger product and brand clarity, alignment with wellness-driven lifestyles, investment in craftsmanship and exclusivity, and resilient, localised operations. Brands that adapt early and deliver consistently are best positioned to thrive.

China’s Outdoor Boom: How Performance, Lifestyle, and Community Are Redefining the Market

China’s outdoor apparel market is booming, outpacing traditional sports categories with unprecedented momentum. Driven by a nationwide focus on health and active lifestyles, outdoor activities are becoming a key part of modern Chinese living.

Local and global brands alike are thriving, with innovation and technical performance taking center stage. Consumers increasingly prioritize functionality over brand name — features like waterproofing, breathability, and sun protection now define purchasing decisions.

Offline community-building is also fueling growth, as brands foster social connections through hiking clubs and outdoor events that strengthen loyalty and brand identity.

Key takeaway: China’s outdoor boom rewards brands that combine technical excellence, authentic storytelling, and community engagement to connect deeply with a new generation of outdoor enthusiasts.

China’s Outdoor Sporting Goods Boom

China’s outdoor and sporting goods market is surging, reaching USD 55.8 billion in 2024 with nearly 20% growth year-on-year. Online sales of outdoor jackets alone jumped 49%, while trail footwear rose 52%.

Foreign brands are gaining traction, especially niche players like On Running, which connect with Chinese consumers through local storytelling and community events. Engagement rates on platforms such as Douyin far outpace traditional giants like Adidas.

Urban youth under 35 are driving demand, blending outdoor performance with fashion (“gorpcore”) and embracing wellness trends linked to the government’s Healthy China 2030 initiative.

Key takeaway: Success in China requires more than products, it demands authentic localization, cultural relevance, and agile adaptation to shifting consumer lifestyles.

Asia is the Future of Global Consumption

More than 2.2 billion people, over 55% of the world’s consumer class, already live in Asia, and this share is set to grow significantly in the years ahead.

By 2030:
  • China will become the world’s largest consumer market in 2030.
  • India is growing faster and set to be #2 globally, ahead of the U.S.
  • Indonesia: +76M by 2030 → the 4th largest market worldwide.
  • Bangladesh: +52M → from rank 28 to rank 11.
  • Pakistan: +60M → up 7 spots globally.
  • Philippines: +38M → also up 7 spots.

In contrast, the consumer based in Japan, Germany and Italy is shrinking, while growth in the U.S., U.K. and France is slowing down.

The message is clear:

  • Global demand is shifting East.
  • China and India will dominate.
  • Southeast Asia is the next frontier.

Licencing Deals Reshape the Fashion Industry

Amid shifting consumer habits and global economic uncertainty, fashion brands are increasingly turning to licensing to strengthen their identities and expand into new markets. Licensing grew 8.1% in 2024, making it one of the fastest-rising segments in a global brand licensing industry worth nearly $370 billion.

From Victoria Beckham’s eyewear debut with Safilo to Champion’s new NFL partnership, six recent agreements highlight how labels are using licensing to fuel growth, diversify product categories, and navigate industry challenges.

Niche Sports Labels Enter the Chinese Market

A wave of niche and premium international brands, including Ciele, Nordisk, and Hydrogen, are entering the Chinese market.

Danish outdoor brand Nordisk is launching in China through a joint venture with South Korea’s K2 Group and Chinese investment firm Black Ant Capital, combining Scandinavian design with local market expertise. Italian sportswear brand Hydrogen is entering China via a strategic partnership with BranDNA and Creas F&C Group, with support from Japan’s Mitsui Fashion.
Additionally, China’s largest sportswear retailer, Topsports, has secured exclusive partnerships with Canadian running brand Ciele Athletics, British performance label Soar, and Norwegian outdoor gear manufacturer Norrøna.
According to JingDaily, this is due to the Chinese outdoor- and sportswear market entering a new era of niche diversification, powered by rising consumer demand, younger generations’ disposable income, and a paradigm shift toward wellness and greater quality of life.
Interested in scaling your sports-, outdoor-, apparel brand in Asia? Contact us at [email protected] to discover how we can support your growth in Asia.

The Aia-Pacific Region is Redefining Global Retail Trends!

While global markets are adapting to digital transformation, consumers in the Asia-Pacific region are already rewriting the rules for what seamless, connected and meaningful commerce looks like.

The Adyen Index: Retail Report 2025, which reveals shopper attitudes and business trends across the region, shows how from the rise of mobile-first commerce to the seamless fusion of online and offline channels, the region continues to redefine what great customer experiences look like.

Take a look at some of the key findings of the report, with a special focus on Singapore, Malaysia, Hong Kong, Japan and Australia which you will find in our Industry News section: asiacorp.eu/industry-news

Interested in scaling your sports-, outdoor-, apparel brand in Asia? Contact us at [email protected] to discover how we can support your growth in Asia

New Report: Key Trends in China's Running Shoe E-Commerce Market (2024-2025)

The running business keeps accelerating and so does our portfolio of clients/brands at www.AsiaCorp.eu. From retail trends and consumer shifts to market strategies and executive insights, we follow the data that drives performance and transform this to market opportunities in the APAC region for the brands which we represents.
Our Strategic Business Partner Hot Pot China has just conducted a great report together with SGI Europe, which uncovers what’s driving demand in one of China’s most competitive online categories: running shoes.
What you’ll learn from this report is: - How the giant local players: Tmall and Douyin are reshaping their platform strategies - What’s behind the premiumisation of running shoes in China - Why seasonal peaks are shifting beyond 618 and 11.11 - How Nike, Anta and HOKA are positioning their products in the China market - Where challenger brands are gaining ground
Contact us at [email protected] for the full report and to hear how we can assist your sports-/outdoor- or lifestyle brand in exporting to the Asia-Pacific region.

India Set to Become World’s Third-Largest Economy by 2028

India is on track to surpass Germany and emerge as the world’s third-largest economy by 2028, with its GDP projected to reach USD 5.7 trillion, according to Morgan Stanley.

Over the past five years, India has rapidly evolved into a key destination for global brands. With a growing and increasingly affluent consumer base, the country offers a vibrant market eager for new products and experiences. This shift reflects India’s rising economic influence and its appeal as a hotspot for international business expansion.

South Korea’s Sports & Outdoor Market: A New Frontier for Global Brands

South Korea’s sports and outdoor sector is booming, with the market surpassing 5.3 trillion KRW in 2024. But it’s not just growth in numbers, it’s a shift in culture. From night golf and screen lounges to fashionable hiking and rooftop camping, outdoor activities have become a lifestyle movement.

As Korean consumers demand innovation, design, and functionality, global brands must adapt to local trends and expectations. The market rewards bold, localized strategies, not playing it safe.

Discover how international brands can tap into this momentum and thrive in one of Asia’s most dynamic consumer markets.

Luxury brands shift focus to sport and performance

Leading fashion houses like Louis Vuitton, Chanel, and Ferrari are redefining luxury through sport. As highlighted by Jing Daily, these brands are investing in events like Formula 1 and the Olympics to stay culturally relevant and reach younger, more dynamic audiences.

From personalized tech partnerships to emotional storytelling, the luxury sector is aligning with sports to enhance brand value and visibility — especially in key Asian markets where lifestyle and aspiration intersect more than ever.

AI emerges as Southeast Asia’s engine of economic growth

Southeast Asia is undergoing a remarkable digital transformation, with artificial intelligence (AI) taking center stage. According to the e-Conomy SEA 2024 report, the region’s digital economy has become profitable—growing from $4 billion in 2022 to $11 billion in 2024. This momentum is driven by a young, tech-savvy population, strong government support, and major investments in AI infrastructure.

Companies across the region are rapidly adopting generative AI, with 70% reporting a positive return on investment within the first year. Startups such as Lytehouse AI, DiMuto, and CarbonSync are developing innovative solutions in areas like safety, agriculture, and sustainability. Backed by continued investment and supportive policy frameworks, Southeast Asia is positioning itself as a global leader in AI-powered economic growth.

How to succeed with premium athleisure wear in China?

Sport-specific apparel and premium athleisure are seeing astonishing year-on-year growth in China, fueled by rising health consciousness, urbanization, and increasing disposable incomes. However, China is not an easy market to conquer – the competition between big global brands and domestic players is fierce. The report "Deconstructing success in China: Building a landscape for premium athleisure wear" by Hot Pot China (HPC) lays out the key factors that push athleisure brands forward in one of the world's most demanding yet rewarding markets.

The report points out that the Chinese consumers prioritize quality, innovation, sustainable materials, and brand image, caring deeply about the performance/price trade-off and the foundation story of the brands. Moreover, the report suggests brands to apply an omnichannel strategy, mixing online and offline experiences, and to focus on authentic storytelling, performance-driven designs, and sustainable initiatives.

Southeast Asian Economies Continue to Grow

In 2024, the SEA region sees stable economic growth despite external challenges such as gepolitical tensions and slowing global demand. Markets like Indonesia, Vietnam, and Singapore, are outperforming others due to strong policy frameworks and consumer demand. In the main, the region's growth is supported by strong domestic consumption, infrastructure development, and digital transformation.

The Southeast Asia Quarterly Economic Review by McKinsey (March 14, 2025), analyzes the economies of Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, assessing their performance in 2024. Further, the article discusses key watch points and strategies that these countries could explore in 2025 in order to navigate the increasingly complex geo-economic landscape.

China’s Evolving Market in 2025: Innovation, Disruption, and Recovery

After a year of profound transformation in 2024, it is time for the evolving China market to adapt, innovate, and prepare for what lies ahead. That is, 2025 is set to be a year of change, disruption, recovery, and evolution, with shifting consumer priorities, rapid technological advancements, changing geopolitical demands, and economic conditions reshaping industries.

Consumers are becoming more rational and quality-driven, focusing on health, sustainability, and digital convenience. AI, fintech, and online-merge-offline retail are accelerating, while regulatory shifts and global trade challenges create both risks and opportunities for businesses.

The China Mega Report 2025, incorporating insights from over 50 China experts, offers a comprehensive look at one of the world’s most dynamic markets. It explores key trends in technology, consumer behavior, consumption economies, the future of retail, marketing, and innovation.

China's Economy: Larger Than 30 Asian Economies Combined

In 2024, China's economy, worth $18 trillion, surpasses the combined GDP of 30 other Asian countries, including Japan, India, and South Korea. With a population of 1.4 billion, China's GDP per capita stands at $12,870, much higher than the $5,583 average for the rest of the region.

China's rapid growth has had a huge global impact, contributing nearly 39% of global growth from 2012-2021. However, the recent economic slowdown raises concerns, especially for countries reliant on Chinese demand. As China shifts focus to international markets, tensions with the U.S. and EU over trade practices are rising, potentially increasing global costs.

The State of Fashion 2025 - A Glimpse into the Future of the Industry

The fashion industry is heading into 2025 with both challenges and opportunities on the horizon. The State of Fashion 2025, a collaboration between the Business of Fashion (BoF) and McKinsey & Company, explores key themes shaping the industry, from shifting global trade dynamics to the rise of AI-driven and the increasing influence of the "Silver Generation".

As economic uncertainty looms, brands must navigate a changing consumer landscape, where price sensitivity and sustainability concerns drive purchasing decisions. The report highlights emerging growth markets in Asia, the evolving role of marketplaces and the sportswear sector's transformation as challenger brands gain momentum.

Additionally, inventory optimization and supply chain resilience will be crucial for brands looking to maintain profitability. Despite the challenges, fashion leaders who. adapt quickly and embrace innovation will find new pathways to growth.

21 Key Insights into the Future of Retail in China

Over 220 executives from retail and consumer goods sectors gathered at PwC Shanghai to discuss the future of retail in China. The event highlighted 21 key takeaways from 19 industry experts, focusing on trends such as growing demand for high-end products in health and wellness, AI-driven retail disruption, innovative offline formats like pop-ups, and the need for personalized customer engagement. The discussions emphasized the importance of integrated strategies to address rising compliance costs, diverse consumer needs, and increasing competition in this dynamic market.

AsiaCorp Newsletter December 2024

As the holiday season arrives, we take this opportunity to reflect on a year of growth, innovation, and collaboration. We are deeply grateful for the trust and support of our clients, business partners and network. As we look ahead to 2025, we remain committed to executing successful Asian market entry and international growth transformation and M&A strategies for our clients. Wishing you joy, peace, and prosperous beginnings in 2025. Happy Holidays!

Southeast Asia: The next hub for multinational companies

Southeast Asia, with a $3.2T GDP and 656M people, is a growing hub for multinationals. Adding 140M consumers by 2030, the region boasts supply chain diversity, low-cost labor, and proximity to China. Its digital economy, spanning e-commerce and financial services, is set to hit $360B by 2025. Trade agreements like RCEP enhance its appeal, and Singapore’s robust infrastructure attracts global businesses. Despite diverse regulations and challenges, ASEAN’s economic momentum presents vast opportunities for growth and expansion.

India’s lifestyle market projected to reach USD210 billion by 2028

India’s USD130 billion lifestyle market, with fashion accounting for approximately 80 percent and the rest beauty and personal care (BPC), is expected to grow at a 10 percent to 12 percent compounded annual growth rate (CAGR) to reach USD210 billion over the next five years. India’s e-lifestyle market is poised to grow from USD16 to USD17 billion in 2023 to USD40 to USD45 billion in 2028. These are among the findings from a new study released by Bain & Company and Myntra.

Global Powers of Luxury Goods 2023

The 2023 Global Powers of Luxury Goods reported that the Top 100 luxury goods companies generated composite sales of US$347 billion in FY2022, up from US$305 billion in FY2021. This sharp increase in luxury goods sales signals a flourishing state of the luxury industry following the COVID-19 pandemic. Eleven Chinese companies made the Top 100 in 2023, including 10 jewelry and watch brands and a fashion apparel and footwear company, accounting for 10.1% of the Top 100’s luxury goods sales.

Mainland China and Hong Kong Luxury Market: Unlock infinite growth possibilities and sustainable value of luxurious lifestyle

PwC released its Mainland China and Hong Kong Luxury Market report at the fourth China International Consumer Products Expo. The report shows that the global personal luxury market is recovering steadily and is expected to reach US$464 billion by 2025; and further increase to US$606 billion in 2030, growing at an average annual rate of 6%.

China's luxury market: Current trends and future opportunities for brands

China's luxury market, driven by domestic spending, younger consumers, and sustainability, presents European brands with growth opportunities demanding tailored strategies and digital engagement. For European brands eyeing growth and expansion, this exciting shift presents them with ample opportunities.

2024 Asia Lifestyle Consumer Profile

The data sheds light on the mindset of consumers towards their future. While markets like China have maintained a consistently high level of optimism in the past 4 years, Southeast Asia has witnessed a remarkable surge, with 93% of respondents expressing positivity about the future in 2024, an increase of 17% since 2021. Japan has also marked a dramatic increase in ‘positivity about the future’ of 25% since 2021.

20 Fastest Growing Economies in Asia in 2024

With global growth proving to be more resilient than expected and inflation rates declining steadily, the IMF expects the global economy to grow at the previous year's rate of 3.1% in 2024 as well. Looking ahead, global growth is anticipated to increase modestly by 0.1% to reach 3.2% in 2025. Similar to the global growth trend of a strong economic recovery, the growth expectations for Asia have been raised. According to the January 30 report by the IMF, the region's economic growth for 2023 was revised upwards to be at 4.7%, as opposed to the October 2023 projections of 4.6%.

Market watch: Vietnam’s growing middle-class to pave the way for consumer goods and other sectors to flourish

Amidst a challenging economic landscape, the Vietnamese economy has continued its upward trajectory, displaying remarkable resilience throughout 2023. According to recent estimates, Vietnam’s nominal GDP has reached an impressive USD437 billion, reflecting a growth rate of 5.05 percent. A notable factor in Vietnam’s economic strength is the significant surge in foreign direct investment (FDI) witnessed in the country during the same period.

Growth in Asia Pacific emerging markets to remain strong in 2024: Fitch

The economic growth in Asia Pacific will remain strong in 2024 and GDP is expected to grow by about 5 per cent in India and a host of emerging market countries, Fitch Ratings said on Wednesday. In its report titled 'APAC Cross-Sector Outlook 2024', Fitch said the outlooks for the banking sectors in India and Indonesia, as well as APAC emerging markets as a whole, move to improving in 2024, partly reflecting the robust economic backdrop.

The New Silk Road: Bridging Western Brands With the New Asian Luxury Market

The global luxury market is experiencing a shift with the rise of affluent Millennials and Gen Z consumers from Asia, notably from regions like China, South Korea, and Japan. As these young consumers redefine luxury, they are creating a modern-day Silk Road, where high-end fashion, fine dining, and luxury experiences form the trade of desire. Unlike the passive consumers of yesteryears, they actively engage with Western luxury brands, primarily through digital platforms, influencing both market trends and brand strategies. This evolving narrative, reminiscent of historical East-West exchanges, is now fueled by digital advancements and a blend of cultural aesthetics.

India a bright spot in Asia-Pacific, UN report says

Average economic growth in the developing Asia-Pacific region picked up from 3.5% in 2022 to 4.8% in 2023. India has become the world’s fastest-growing major economy in 2023 and a bright spot in the Asia-Pacific amid robust household consumption and public investment in infrastructure, a UN report said. “India registered an economic growth rate of 6.8% in FY2023 supported by government spending on infrastructure and strong growth in manufacturing, mining and construction, which offset lower agricultural output,”.

China's outdoor sports boom driving business growth

The 2024 Chongqing Marathon, which is scheduled for March 24, saw 100,000 applications in a single day. Only a fraction will be selected through a lucky draw to run the 42-kilometer distance. It's the same case with many marathon events held in China nowadays. According to the Chinese Athletics Association, over 300 road running races were held nationwide in the first half of last year, with a total of 2.24 million participants.

The Top 5 Economies in The World by 2028

The global economy is currently undergoing a shift in gravity from the West to emerging markets. Our Consensus Forecasts are for this trend to continue to play out in the coming years, given strong potential for catch-up growth, mineral wealth—particularly in those minerals that are powering the green energy transition—and healthy demographics in emerging markets. That said, developed markets will continue to dominate the podium of the world’s largest economies in the coming years, despite losing relative economic clout.

China’s sportswear market projected to reach USD82.8 billion by 2024

Athleisure, a term coined to describe the combination of athletic and leisurewear, has gained significant popularity in recent years, driven by evolving consumer preferences and a global shift toward wellness. The Chinese market for yoga apparel alone is projected to reach USD3 billion by 2028, as the country’s sportswear industry grows at a compound annual growth rate (CAGR) of above 9 percent.

APAC countries emerge as strong contenders in global retail market

Five nations from the Asia-Pacific (APAC) region are among the top 15 economies that retailers should prioritise when establishing their presence, according to the 2023 Global Retail Development Index, a newly released survey by Kearney identifying the most promising retail markets around the world. These nations include India, China, Malaysia, Indonesia, and Bangladesh.

China’s Outdoor Sports Industry: Growth Potential, Trends, and Opportunities

China is ramping up efforts to promote the high-quality development of the outdoor sports industry and boost associated consumption, having released detailed action plans. New lifestyle and consumption trends also contribute to the sector’s growth potential. Businesses operating in this sector will see increasing opportunities in the years to come. The surge in popularity is creating significant business opportunities.

South Korea is the world’s 10th-biggest economy and is leading an oriental fashion revolution

South Korea has grown to one of the world's top 10 economies in just a few decades. Total spending on personal luxury goods by South Koreans year-on-year grew around 24% to $16.8 billion, amounting to $325 per capita. Revenue in the Apparel market amounts to US$38.05bn in 2023. The market is expected to grow annually by 0.36% (CAGR 2023-2027).

Is South Korea the new spearhead of (Asian) fashion?

There is a new crown jewel in the Asian fashion and luxury market – not just a local success but a phenomenon gaining momentum worldwide. We are talking about South Korea, its consumers, its culture, and, most of all, the incredible success of K-pop music and its stars, who are currently winning over the world’s leading fashion houses, from Chanel to Saint Laurent.

Outdoor in China: How the gigantic sports market will set new standards in 2024

When experts talk about the sports and outdoor market in the People's Republic of China, they are talking about spectacular success figures and a huge potential that still needs to be tapped into. Successful brands in China establish themselves through partners.

APAC economic outlook for 2024 remains bright

After rapid expansion in 2023, the Asia-Pacific (APAC) region is expected to be the fastest growing region of the world economy in 2024, underpinned by resilient domestic demand in East Asia and India. The APAC economic outlook for 2024 is for continued rapid economic expansion, helped by resilient domestic demand in a number of large Asian emerging markets, including mainland China, India, Indonesia, Malaysia and Philippines.

Athleisure Apparel Market Share Evolution and Market Growth Trends 2023–2030

The athleisure apparel market is a rapidly growing industry that has gained significant popularity in recent years. According to the report, the athleisure apparel market is expected to grow at a CAGR of 9% during the forecasted period. This indicates a positive outlook for the industry, highlighting the increasing demand for athleisure clothing and its potential for further expansion.

Outdoor Product Market Size In 2023 : Growth Opportunities and Future Outlook 2030

The Global Outdoor Product market is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2031. In 2022, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon. The product types that held the largest Outdoor Product market share In 2023 were Outdoor Clothing, Outdoor Shoes and Outdoor Equipment.

China’s Outdoor Sports Industry: Growth Potential, Trends, and Opportunities

Several factors are behind the upward demand for products and services in China’s outdoor sports industry, including preferences for an active lifestyle, functional requirements of athleisure wear, and demographic-linked consumer trends. Foreign brands face growing competition from China firms but can tap into a customer base at the premium and entry-level segments. According to Zhiyan Consulting, in 2022 and 2023, the market size of outdoor sports product reached RMB 181.7 billion and RMB 209.1 billion, respectively, with an average annual growth rate of 7.3 percent.

Has Hong Kong still got it? Dior, Louis Vuitton think so

Dior is the latest fashion house slated to present its men’s pre-collection in Hong Kong. While the venue and date have yet to be confirmed, the event will take place in early 2024. Since the city’s and mainland China’s reopening at the beginning of this year through August, Hong Kong has welcomed 20.5 million tourists — 80 percent of them from the mainland, according to VOA News. These numbers have yet to return to 2018’s levels, which were nearly double this year’s, according to the same report.

Asia, Europe put global luxury market on track for record growth in 2023

In the face of significant geopolitical and macroeconomic shifts, the luxury market appears to be weathering the storm, at least for the time being. A new report by Bain & Company and Altagamma forecasts that the global luxury market is expected to achieve remarkable growth, reaching EUR 1.5 trillion (USD 1.63 billion) in 2023. Southeast Asian countries have experienced positive momentum, driven by robust intra-regional tourism and increasing interest from local consumers, particularly in Thailand. Australia has also emerged as a player for growth in the luxury sector.

Asia-Pacific region also tops for offshore services, finds global index

The year 2023 is witnessing a shift in global economic momentum, with the Asia-Pacific region emerging as a powerhouse for growth, reveals a recent report from GlobalData. Investors' attention is drawn to the Asia-Pacific region’s potential, as easing inflation and strategic economic moves set the stage for a flourishing year. GlobalData's Global Macroeconomic Outlook – Q3 2023 Update underscores the trajectories of regions in the face of shifting economic winds. The Asia-Pacific region stands as an outlier, projecting growth of 3.8% in June 2023, an upward adjustment of 0.10 percentage points from March 2023.

The great outdoors: China’s appetite for adventure sports booms

With an increasing number of Chinese people engaging in outdoor activities post-pandemic, the rapidly expanding outdoor sports sector presents a promising opportunity for international athletic brands to gain market share. The total value of China’s outdoor sports industry is expected to surpass 3 trillion RMB (approximately $410.8 billion) by 2025, with the number of people participating in outdoor sports across the country already having exceeded 400 million by the end of 2021.

India’s consumer market set to become the world’s third largest by 2027, behind the U.S. and China

India’s consumer market is set to become the world’s third largest by 2027 as the number of middle to high-income households rise, according to a report by BMI. The growth in India’s household spending per capita will outpace that of other developing Asian economies like Indonesia, the Philippines and Thailand at 7.8% year-on-year, the report said. The country’s ongoing urbanization will also help boost consumer spending as companies can more easily access consumers and open more physical retail stores to cater to them.

ASIAN LUXURY GOODS MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

The APAC Luxury Goods Market size is expected to grow from USD 136.29 billion in 2023 to USD 166.30 billion by 2028, at a CAGR of 4.06% during the forecast period (2023-2028). The Asia-Pacific region is the world's largest consumer of luxury products and has grown to be a significant market for international luxury brands. In the Asia-Pacific region, China and Japan rank among the top consumers of luxury goods and have the highest average per capita incomes.

Global personal luxury goods market projected to grow by 5-12% in 2023

The global personal luxury goods market is projected to grow by 5-12 per cent—or between €360 and €380 billion—this year, up from €345 billion in 2022. The market is likely to reach €530-570 billion by 2030—more than double its size in 2020. Southeast Asia continued its brilliant growth path, while Japan is the shining star in the Asian landscape.

The millennials in India are looking towards sustainable and green brands

Indian retail market is estimated to reach $2 Tn by 2032, driven by socio-demographic and economic factors such as urbanization, income growth and rise in nuclear families. On the other hand, the Indian e-commerce industry is expected to cross $350 Bn mark by 2030, growing at a CAGR of 23%. The Indian e-commerce market was estimated to be worth over $55 Bn in Gross Merchandise Value in 2021. By 2030, it is expected to have an annual gross merchandise value of $350 Bn.

Why Athleisure's Pulse is Racing in Southeast Asia

Combining functionality with comfort has been a priority for consumers lately, boosting demand for athleisure or sports-inspired sportswear. Examples of items that have become wardrobe staples of Southeast Asian consumers since the pandemic include leggings, tracksuit bottoms, trainers, sports bras and hoodies. Sports-inspired sportswear is not only forecast to account for 57.9% of the region’s total sportswear market size, but it is also expected to remain very dynamic and see a 9.5% retail value CAGR over the forecast period (2023-2027).

Emerging Asia to spearhead global economic growth in 2023-24: Swiss Re

Emerging Asia, including China, India, Thailand, Indonesia, and Malaysia, is expected to drive global economic growth, with a 5.4 per cent increase projected for 2023-24, according to Swiss Re Institute's sigma report. This surge is largely linked to the recovery in demand following the reopening of China's economy. Notably, China is forecast to be among the handful of nations to witness stronger growth this year than in 2022, as per the report.

The Indian Sportswear Market – Where Fashion Meets Function

As the Indian economy grew and the disposable income of people rose, the market witnessed the entry of brands and, at the same time, the launch of new retail formats such as exclusive, multi-brand and large malls responding to the rising needs. In 2021, the apparel segment was worth $579.47 million, and by 2029, it is expected to reach $2238.13 million, growing at a CAGR of 16.2 percent. The segment’s demand has increased as a result of the government’s growing investment in sports, which has had a significant impact on the market’s expansion.

AsiaCorp Newsletter August 2023

We can proudly announce that AsiaCorp will represent the Hong Kong Trade Development Council (HKTDC) for the Nordic Countries. The HKTDC organises international exhibitions, conferences, and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets.

The promise of the Philippines: A retail success story

Retail in the Philippines has been showing great promise, with players encouraged by its high growth rate across various retail categories. This is particularly true in luxury goods, with the Philippines set to be the fast-growing market in Southeast Asia for this sector, a 30 percent increase from 2021 to 2022.

Disney, Authentic, Pokémon, Mattel and More Named License Global's Top Global Licensors

License Global’s Top Global Licensors report is back for 2023, showing huge growth for returning brands, the arrival of new players and forecasts for 2024 industry activity. In total, the Top Global Licensors report retail sales of licensed consumer products and experiences in 2022 of $278 billion. The top 20 of the 84 brands in the report generated a combined $230 billion, with $189 billion in the top 10 alone.

Indian luxury market in 2023 and beyond

Although, major economies in the world are witnessing recessionary trends, the Indian economy is estimated to grow by around 7% this year to become the fifth largest economy in the world. According to a recent EY report, India’s GDP will reach $26 trillion and its per capita income will touch $15000 by 2047, placing it among the top developed economies.

Bain-Altagamma report: Global luxury market to grow by up to 12 percent in 2023, Japan the ‘rising star’ in Asia

The global luxury market is projected to grow by up to 12 percent in 2023, according to a new study released by Bain & Company and Altagamma, the Italian luxury goods manufacturers’ industry association. Despite economic uncertainty, geopolitical tensions, and gradual emergence from the pandemic, the personal luxury goods market reported a record year in 2022 with a market value of EUR354 billion (USD386 billion).

Forget the single APAC strategy, brands need to get local and category specific

Brands need to abandon a ‘single Asia’ strategy and adopt localised product and category-relevant strategies if they wish to succeed in Asia Pacific. The increasing fragmentation in the region means that brands need to adopt hyper-local strategies and address their specific category or product needs to ensure future success, according to a leading regional trend forecaster.

Global brands numbers, likely to set up shop in India surges post-covid

According to property consultants, around 24 international brands are expected to enter the Indian market this year, marking the highest number in a decade. This surge is attributed to the post-Covid increase in consumption and demand. In 2020, only one global brand entered India, followed by three in 2021 and 11 in 2022. Prior to the pandemic, approximately 12-15 brands would enter the Indian market annually. Notable brands like Roberto Cavalli, Dunhill, and Foot Locker are currently in talks to establish their presence in India.

Tapping the potential of the new Asian consumer

According to a report by McKinsey, Asia presents a US$10 trillion consumption growth opportunity over the next decade. It will account for one of every two of the world’s upper-middle-income and above households, and one of every two consumer transactions in the period to 2030.

2023 ASIA LIFESTYLE CONSUMER PROFILE

Based on an Asia-wide survey covering 1,765 premium lifestyle consumers across 6 markets, we present insights into evolving sentiments and trends shaping consumption across premium and luxury segments including fashion, accessories & footwear, beauty, fragrance & make-up, active lifestyle and jewellery & watch.

Why athleisure’s pulse is racing in Southeast Asia

Combining functionality with comfort has been a priority for consumers lately, boosting demand for athleisure or sports-inspired sportswear. Examples of items that have become wardrobe staples of Southeast Asian consumers since the pandemic include leggings, tracksuit bottoms, trainers, sports bras and hoodies.

Superdry to sell Asia Pacific IP assets to South Korea's Cowell

Superdry is continuing its drive to rationalise its business while also expanding its brand reach and on Wednesday announced a deal for the sale of its intellectual property (IP) assets in parts of Asia Pacific for an upfront fee of US$50 million, payable in cash. And it said it’s “considering additional steps to further strengthen its balance sheet”.

Meet four types of APAC consumers driving physical retail’s comeback

With the last of Asian markets opening up borders and lifting pandemic measures, the region is set to embrace a return to normalcy. And while economies in the US and Europe fend off a recession, analysts anticipate moderate to strong growth in Asia.

China accounts for close to 30% of global manufacturing output, an incredible share.

There is no other country that can offer the same scale and production capacity. However, between 2013 and 2022 manufacturing wages in China have doubled to almost USD 8.30 per hour and foreign companies (quietly) reduce their dependence on the Chinese market; be it for strategic, political or ideological reasons

DON’T FORGET ABOUT THE EXPORT OPPORTUNITIES TO THE PHILIPPINES WITH 114 MILLION CONSUMERS

The Philippine economy will probably keep growing near +7% this year, according to President Ferdinand Marcos Jr, who struck an optimistic tone that the nation expect to produce, what could be the fastest expansion in Asia.

CHINA’s TOP APPAREL TREND FOR 2023:

Outdoor activities were huge in 2022, when Covid had a high impact especially in China - and the trend isn’t slowing down anytime soon. No matter the season, China’s outdoor enthusiasm are finding ways to be active and enjoy the nature. Activities such as camping and skiing continue to see a surge in popularity in 2023

Luxury brands will continue to focus on China as economy improves

GlobalData said it forecasts that China’s luxury retail market will grow by 6.1 percent and 6 percent in 2023 and 2024, respectively. Disruptions caused by Covid-19 and China’s stringent measures against the pandemic kept consumers away from stores in 2022, some of which had to close temporarily or operate on shorter opening hours due to staff shortages.

HIGH LEVEL UPDATE ON 7 KEY ASIAN RETAIL MARKETS IN 2022 - AND WHAT'S AHEAD IN 2023

Looking back at rather shaky 2022 in retail, this article is rounding up the overall performance of seven key Asian retail markets, including Malaysia, Hong Kong, South Korea, Mainland China, Singapore, Japan and Thailand, as well as overall outlooks in the year ahead.

LOUNGEWEAR IS THE NEW WORKWEAR TREND IN CHINA - BUSINESS OPPORTUNITY

Over the past two years of living between “snap lockdowns” and the new normal. Chinese consumers have learned to prepare for unexpected quarantines that might take place anywhere, anytime. Meanwhile, the spheres of home and workspaces have begun overlapping, shifting loungewear from “indoor” to outdoor use.

China’s New Outdoor Sports Initiatives Create Growth Opportunities For Brands

With the exception of winter sports, which skyrocketed in popularity during the 2022 Beijing Winter Olympics, China’s outdoor lifestyle trend has been mostly fueled by demand from younger Chinese consumers.

Newsletter from AsiaCorp: Preparing for the upcoming holidays

Below please find our Q42022 Newsletter. We look forward to 2023 and wish you and your family happy holidays and a fantastic New Year.

Another year has (almost) gone, and we at AsiaCorp want to say thank you to all our clients and business partners for great cooperation.

Happy New Year

And just a gentle reminder: Don't forget about looking at the Asian markets, which counts for 60% of the world's consumers...! In 2022, there are 8 billion people in the world today. But what if we reduce the Earth to a village of 100 people? 58 out of 100 are Asian, 19 are African, 12 are North and South American, 10 are European, The other 1 is from Oceania.

China to make up 40% of luxury consumers by 2030

Even as economic conditions worsen, the global luxury market marches on. A recent study released by Bain & Co. and Altagamma projects that the industry will reach $1.4 trillion in sales revenue this year, growing 21 percent from 2021. Despite high inflation and rising costs of living, as well as ongoing COVID-19 restrictions, some 95 percent of luxury brands reported positive growth in 2022

Newsletter from AsiaCorp: A rising popularity in outdoor sports are creating a new market in China

The rise in outdoor sports is creating a new market for brands in China. The support from the Chinese public soctor ensures investments in new facilities and infrastructure, while the trend encourages the public need for new equipment.

The Vietnamese GDP grew by 8.02% in 2022, which fastest expansion in 25 years!

Don't forget to strongly consider Vietnam, when looking to expand your apparel/leisure/fashion brand into Asia. GDP growth in the fourth quarter was 5.92%, slowing from an expansion of 13.71% in the third quarter.

Consumer trends in APAC for the rest of 2022

Asia Pacific (APAC) markets have been looking beyond the pandemic to focus on post-Covid-19 growth. Although geographically distant, the APAC region is not immune to soaring commodity prices and supply chain disruptions driven mostly by the war in Ukraine. Rising inflation and rising prices have also impacted consumer behaviour in Asia.

What Chinese individualism means for luxury brands

The rise of individualism in the mainland is a movement that may not be entirely consistent with western narratives but is redefining the expression of self-image. It is a game changer that could potentially transform the future of the luxury industry in China.

Starbucks opens its 6,000th store in China

Starbucks can celebrate its 6,000th store in Mainland China with a new store at Shanghai Lippo Plaze. This also marks the 1,000th Starbucks store in the city. Starbucks expects to operate 9,000 stores across 300 cities in China by 2025.

Singapore overtakes Hong Kong in world financial centers ranking

Singapore has overtaken Hong Kong and become the top financial center in Asia. Not only is it the top financial center in Asia, it’s also the third in the world only surpassed by New York and London.

Third-party marketplace sales to account for 59% of all global ecommerce by 2027

By 2027, the four largest global marketplace leaders – Alibaba Group, Amazon, Pinduoduo and JD.COM – will account for $4.3trn in global retail sales, almost...

Singapore retail sales continue to recover

Singapore retail sales continued their rebound – and is ready for growing your lifestyle brand again! The fastest-growing category was apparel and footwear which surged 68% and sales of watches and jewellery increased by between 42% and 53%.

Malaysian retail sales set new record

Malaysia’s retail sales saw recorded growth in the second quarter of this year, surging 62.5 per cent year on year, according to Retail Group Malaysia (RGM).

Dunhill opens two new stores in South Korea

The new stores are situated within Lotte department stores in the Seoul district of Jamsil and Southern city of Busan, continuing the brand’s expansion strategy in Asia and paving the way for a third store opening in spring next year.

How China is fueling the growth of beauty brands and boosting luxury players

China has quickly gained on the United States in beauty sales, and is set to overtake it by 2023.

Harvey Nichols flagship reopens at Pacific Place

The Harvey Nichols flagship at Pacific Place has reopened after a three-month refurbishment, adopting a new store model which takes up just half the space of the original store.

Lazada launches RedMart on its mobile app

With RedMart has officially completed its move to the Lazada platform on 15 March, and customers can now enjoy a one-stop solution for all their shopping needs.

L’Occitane profit soars after restructure

Hong Kong-listed beauty-products retailer L’Occitane is reaping the benefits of a restructure with profit up 21.8 percent last financial year to €117.6 million.

Lego opens first Australia flagship store in Sydney

Located at Sydney’s Westfield Bondi Junction shopping mall, the two-story Lego store will serve as the company’s first standalone store in the Australian retail landscape, according to local media reports.

Millionaires are showing off their money in a new way

The definition of luxury is evolving, and the change applies to not only what people are spending money on, but how they’re doing it.

L’Oréal Paris chooses Thailand for its biggest flagship store worldwide

L’Oréal Paris revamps its store at the Bangkok King Power Downtown II Srivaree, making it its first flagship store in Travel Retail Worldwide.

Chloé opens flagship store in Seoul

Chloé unveiled a new 386-square-meter, two-story boutique in the lively luxury shopping district of Cheongdam in Seoul. The eye-catching façade, consists of beige marble stones and the maison’s logo in brass is luminous by day and lit-up at night.

Nike sees strong growth in Asia

Sportswear retailer Nike has grown net income to US$1.1 billion over its third quarter, with the group’s consumer-direct approach delivering growth across all four of its geographic regions.

Top 6 business challenges to consider before entering Asian markets

Between the Asian and Western (US and Europe) markets, the latter was once considered the more lucrative option of the two whereas the former was dubbed as slow-paced and laggard. But this concept has changed dramatically over the past decade.

LVMH achieves record result, with profit up 21 per cent

The world’s largest luxury retailer LVMH shrugged off broader market pessimism overnight reporting record revenue of €46.8 billion last year, up 10 per cent over 2017. Excluding the closure of the unprofitable Hong Kong airport duty-free business in December 2017, the group’s organic growth was 12 per cent. Every business division delivered what the company described as “excellent performances”.

L’Oréal Generates 120M Social Media Interactions with Haitang Bay Pop-up Launch

L’Oréal Paris has generated over 120 million interactions on Chinese social media since launching a striking pop-up at China Duty-Free Group’s (CDFG) Haitang Bay Sanya International Duty-Free Shopping Complex.

Central Retail plans to double online sales

Central Retail Corporation has announced plans to to double its online sales to THB10 billion (US$315.76 million) this year. Central’s CEO Nicolo Galante said the firm intends to lead in the omni-channel e-commerce business, overtaking Shopee.

Vietnam retail sales soar

Vietnam retail sales grew at 13 per cent last year, with food and beverage, apparel and household appliances leading the way, according to Savills Vietnam. The country’s Ministry of Industry and Trade has estimated total revenue generated from retail sales and consumer services reached US$191 billion last year.

Korean department store sales lift on strong e-commerce

South Korea department store retail sales recorded an increase in September 2017 on the back of strong online sales, a government report showed. The Asian nation’s major retailers registered an increase of 8.4 percent in September from a year earlier, according to the Ministry of Trade, Industry and Energy.

Prada’s sales surge on rapid greater China growth

Asia has once again energised luxury fashion label Prada’s sales in the first half year. The company has reported net revenue up 9.4 per cent in the six months to June 30 (although a lesser 3.3 per cent at current exchange rates). However Prada Asia-Pacific sales surged 13.8 per cent at constant exchange rates, or 6.6 per cent at current rates, most of that growth coming from company-owned stores.

Singles’ Day trumps Black Friday and Cyber Monday combined

Alibaba, the Chinese e-commerce giant, said on 11 November 2017 its Singles’ Day sales extravaganza hit $25.4 billion, smashing its own record from last year and cementing it as the world’s biggest shopping event. Once a celebration for China’s lonely hearts, Singles’ Day has become an annual 24-hour buying frenzy that exceeds the combined sales for Black Friday and Cyber Monday in the United States, and acts as a barometer for China’s consumers.

Why Brands Shouldn’t Treat the Hong Kong and Mainland Markets the Same

Brands often talk about marketing in Greater China. However, considering the strong cultural differences in the different markets that constitute Greater China, which includes China, Hong Kong, Macau, and Taiwan, firms can run into issues of being politically or culturally deaf. These kinds of missteps can lead to long-term damage to a brand and its marketing efforts.

Singapore m-commerce set for 33 per cent growth

Singapore m-commerce is set for 33 per cent growth in the next five years, according to a new report. Despite its modest population numbers, the city/state is the region’s third-largest e-commerce market with 73 per cent of internet users already shopping online. But this growth is set to slow with a modest 9 per cent expansion to reach US$6.5 billion by 2021 predicts Worldpay, which analysed e-commerce spending patterns across 36 markets on five continents.

THE RISE OF LUXURY JEWELRY WITH CHINESE MILLENNIAS

From changing cultural mindsets and innovative designs to forward-thinking digital promotional strategies and price adjustments, the scene has been set for luxury jewelry brands to thrive in the Chinese market – especially with female millennials.

Chinese retail sales rise more than 10 per cent

Total Chinese retail sales last month reached RMB2.961 trillion (US$443.7 billion), a year-on-year rise of 10.4 per cent, reports the National Bureau of Statistics.

Double-digit growth in daily retail sales in China over National Day ‘Golden Week’

China’s daily retail sales during the country’s “Golden Week” holiday that ended on Sunday rose at a double-digit pace, on a par with growth during the same break last year, data from the commerce ministry showed.

CHINA’S WEALTHY ARE SPENDING A QUARTER OF THEIR BUDGET ON HEALTH AND ATHLEISURE

As average Chinese families get wealthier, they seek more from their luxury consumption than the mere ability to show off. As the face of luxury and fashion continues to change, luxury brands need to remain attuned to these fluctuations in order to stand apart from their numerous competitors in China.

CHINA’S ‘WANNEBE CONSUMERS’ WILL GROW THE FASTEST BY 2020, SAYS BAIN REPORT

The start of this year marked a major shift in China’s luxury market. Chinese consumers are now spending more on high-end products domestically and their attitudes are also evolving, fueled by digitization, over-exposure to luxury, a changing economy, and changing demographics.

Alibaba Unveils Exclusive Luxury Pavilion Courting Super-Wealthy Chinese Shoppers

Chinese e-commerce giant Alibaba Group today launched the Luxury Pavilion, a brand new section within its business-to-consumer site Tmall for premium and luxury brands. The initiative is part of a broader bid, according to Alibaba’s news site Alizia, to push forward its New Retail initiative in the luxury arena to reach out to the country’s super wealthy online shoppers.

Korean online shopping growth surge as retail sales stumble

Online shopping is experiencing a growth surge, accounting for close to 20 percent of all retail sales in the first quarter of this year.

PARTNERING WITH CHINA’S RETAILERS: A GUIDE FOR CONSUMER-GOODS COMPANIES

The Chinese consumer sector looks vastly different today compared with just five years ago. The retail environment both offline and online has shifted, consumers have become savvier omnichannel shoppers, and local consumer-packaged-goods (CPG) manufacturers are giving global players a run for their money

3000 stores to open in India, world’s most promising retail market

The recent implementation of the GST along with the rise of e-commerce has caused over 50 brands to announce that they will launch in India in the next six months.

CHINA WILL REPRESENT ABOUT 60 PERCENT OF ALL GLOBAL E-COMMERCE TRANSACTIONS BY 2020.

Today, an increasing number of foreign brands in China are beginning to recognise the power of China’s millennials in determining the future of their businesses, and major luxury players, such as Burberry, Cartier, and Gucci, among others, have all recently made bold efforts to attract this demographic. Chinese millennials matter to luxury brands because of their large population and massive purchasing power.

VIETNAM’S RETAIL SALES LEAP TO US$118 BILLION

The General Statistics Office has estimated Vietnam’s 2016 retail revenue at US$118 billion, a 10.2% rise over the previous year.This revenue growth rate was relatively high compared to other markets in the region. Notably, food and foodstuff sales increased by 13%, followed by household appliances with 11.4% and textiles and garments with 10.6%.

E-COMMERCE IN JAPAN: 20% OF RETAIL BY 2022

While the U.S. and China are already known as global e-commerce markets, it’s Japan that boasts the largest e-commerce potential, especially over the next three to five years, say two separate consultant groups. In 2015, Japan generated roughly $80 billion in e-commerce sales. This compares to some $350 billion of e-commerce sales in the U.S. and China’s whopping e-commerce sales result, which exceeded $650 billion in 2015.

BE FLEXIBLE, BUILD TRUST FOR SUCCESSFUL ASIAN MARKET EXPANSION

NEW YORK – When entering a new market, the biggest mistake brands can make is failing to alter their marketing strategy for any cultural differences, according to an executive from Export Now.

INDONESIA LEADING CHARGE, SAYS ASIA LUXURY INDEX

Indonesians have become Asia’s foremost online buyers of luxury goods, according to th latest Asia Luxury Index.Amid difficult economic conditions, online sales of luxury goods in Indonesia have grown by 84 per cent, according to the index, which draws mainly on the sales data of Reebonz, a Singapore-based eCommerce platform for luxury products.

THE RETAIL WINNERS AND LOSERS OF 2016

Some retailers spent the year readying for the industry’s future, while others grappled with the ghosts of its past. Here are the companies, technologies and trends that soared or sank in 2016.

ASIAN GROCERY BOOM PREDICTED BY IGD

Asia will continue to be the biggest engine of growth in the grocery market with its sales set to exceed those of Europe and North America combined within five years, according to new forecasts from research organisation IGD.

SOUTH EAST ASIA: THE NEXT WAVE OF LUXURY?

Southeast Asia represents the next big hotspot for premiumisation in Asia. As the region accelerates through this cycle of spreading consumer prosperity, it is predicted that the number of middle-income consumers will increase from 190 million in 2012 to 410 million in 2020.

THE EVOLUTION OF E-COMMERCE BUSINESS MODELS IN SOUTHEAST ASIA

Being the new kid on the block means that e-commerce ventures in Southeast Asia have the luxury to learn from others’ mistakes, from mature e-commerce markets such as the US and China.

CHANGING RETAIL TRENDS: WHERE WILL INDIA BE IN 2030?

The rising number of online shoppers, developing infrastructure and affordable technology will prove to be a boon for this industry, says a report by Goldman Sachs. The report also mentions tremendous growth amounting to about 2.5 per cent of the nation’s GDP that would be almost 15 times growth for this buzzing online industry.

ASIA’S TOP 5 ECONOMIES IN 2030

Remember when Japan was set to become the world’s top economy? The risks of such forecasts have been highlighted by this and other fearless predictions, including more recently that China would continue its double-digit growth rate forever and that India would quickly become the “new China.”

INDONESIA IS ASEAN ECOMMERCE SLEEPING GIANT

Indonesia is the most-promising ASEAN eCommerce market, according to Hong Kong-based consultant Paul McKenzie. He told a seminar in Bangkok, organised by brokerage and investment group CLSA, that Indonesia has the greatest potential because of its developing infrastructure and private equity advantage. Thailand is a little behind, he said, with the eCommerce landscape growing but not to the same scale as Indonesia.

BRANDS THAT CAN ONLY BE PURCHASED ONLINE WILL SEE STRONG GROWTH IN FUTURE

‘Digital-first’ brands, or brands that can only be purchased online, can expect to see strong growth across categories like budget fashion, furniture and groceries with the increasing adoption of e-commerce, a study said.

WORLDWIDE E-COMMERCE MARKETS

China is the biggest eCommerce market in the world with $562.66B in sales projected for 2015. Factors like population contribute to their top slot. Case in point, China has more than 600 million internet users. And this is important if you are an eCommerce shop owner. Shopping is the fastest growing online activity in China. Exciting news when considering different types of marketing campaigns targeted at your Chinese customers.

CHINESE LUXURY SHOPPERS INCREASINGLY TURNING ONLINE: KPMG

For Chinese, online shops are quickly evolving from simply a means to get a bargain to somewhere movers and shakers can splash out on pricey clothes and accessories. According to a study published by auditor KPMG earlier this week, Chinese buyers of luxury items are increasingly favoring online retailers over brick-and-mortar stores, which will account for half of Chinese luxury spending by 2020.

ASIA LUXURY RETAIL REVIVAL AHEAD

While Asia Pacific may be experiencing a slowdown in luxury retailing right now, three key trends will fuel a renaissance in coming years.

HERE’S WHY SINGAPORE IS A SHINING BEACON IN LUXURY ASIA

Singapore is the key regional hub for Luxury in ASEAN, and a top hub in Asia-Pacific, with a market size in 2013 of €2.5 billion (ca. S$4.3 billion) compared to the ASEAN market size of €5.5 billion, and the Greater China market size of €27.4 billion which includes China, Hong Kong, Taiwan and Macau. – And Singapore incidentally ranks 5th in the 5 largest destination countries by value of tax free shopping value after France, Italy, UK, and Germany.

AUSTRALIAN LUXURY RETAIL GROWING BY 9.8PC

Luxury retailing in Australia is projected to be a $2.4 billion industry by 2019-20, according to a new report by IBISWorld. IBISWorld’s “Luxury Retailing in Australia” report says the country’s relatively stable economy has given its residents more disposable income, leading to more luxury purchases. Due to Australia’s favorable market for luxury goods, many brands have aggressively expanded their operations in the region.

Subscribe to newsletter