Asia Fashion Weekly News Bulletin – ISSUE 16 Week of 26 May 2025
(1) SHEIN sets eyes on Hong Kong listing after London IPO rejected
After Chinese regulators rejected SHEIN’s IPO plans in London, the company is now seeking to list on the Hong Kong stock exchange within the year.
(2) Creative director Chiuri leaves Dior, Anderson tipped for wider role
Maria Grazia Chiuri has left her position as creative director of Dior women’s collections, paving the way for Jonathan Anderson to potentially take on a larger role.
(3) LVMH may raise prices by 2-3 per cent, says deputy CEO
LVMH plans to raise prices on its premium products by 2 to 3 per cent annually without significantly impacting high-end demand.
(4) Versace owner Capri is the latest victim of Trump tariffs as it posts dismal sales figures
Capri Holdings, owner of Versace, Michael Kors, and Jimmy Choo, reported a 15.4 per cent drop in sales to £770 million and warned that US tariffs will hurt profits, despite hopes for improved luxury demand in the upcoming financial year.
(1) SHEIN sets eyes on Hong Kong listing after London IPO rejected
(Photo Credit: Reuters)
After Chinese regulators rejected SHEIN’s proposed initial public offering (IPO) in London, the company is now aiming for a listing in Hong Kong. SHEIN plans to apply to the Hong Kong stock exchange in the coming weeks, with hopes of going public within the year.
Following the UK’s Financial Conduct Authority’s (FCA) approval in April, SHEIN notified the China Securities Regulatory Commission (CSRC). However, the company has since faced unexpected delays and limited communication from the CSRC.
SHEIN’s journey to go public has been fraught with challenges. Initially targeting a listing in New York to access a broad base of Western investors, the company shifted focus to a potential US$67 billion float on the London Stock Exchange after encountering resistance from US politicians. The FCA eventually approved SHEIN’s plans in April, following concerns about its supply networks, nearly ten months after the initial paperwork submission.
News Source: https://apparelresources.com/business-news/retail/shein-sets-eyes-hong-kong-listing-london-ipo-rejected/
(2) Creative director Chiuri leaves Dior, Anderson tipped for wider role
(Photo Credit: Dior)
Maria Grazia Chiuri has stepped down as creative director of Dior women’s collections, marking a significant change in the luxury fashion brand’s leadership. Her departure is part of a broader reshuffle among creative directors at top luxury brands, as the industry faces a slowdown in demand, with LVMH’s fashion and leather goods division reporting a 5% drop in sales in the first quarter.
Jonathan Anderson, Dior’s menswear designer, is expected to take on a larger role following Chiuri’s exit. He recently left LVMH’s smaller label Loewe and is set to create a new collection for Dior Men’s Fashion. Analysts believe that Chiuri’s departure paves the way for Anderson to assume a consolidated leadership position within the brand.
Chiuri, who made history as Dior’s first female creative director since its founding nearly 80 years ago, expressed pride in her nine years at the helm. She is known for infusing feminist themes into her collections, famously showcasing a t-shirt with the phrase “We Should All Be Feminists” during her first show.
News Source: https://www.globalbankingandfinance.com/FRANCE-LVMH-17f5f9a9-712f-46fe-8039-ab37b3b4d9a0
(3) LVMH may raise prices by 2-3 per cent, says deputy CEO
(Photo Credit: Apparel Resources)
LVMH, the French luxury giant, believes it can increase prices on its premium products by 2 to 3 per cent annually without significantly affecting demand from high-end buyers. Deputy CEO Stéphane Bianchi stated during a parliamentary hearing that this price increase could help mitigate the impact of potential import tariffs, although he noted that pricing flexibility is not unlimited.
Bianchi highlighted that LVMH’s ability to adjust prices varies across different product segments, with the ultra-luxury market showing strength while more affordable items face challenges in price increases.
Despite some economic headwinds and a slowdown in consumer spending in certain Asian markets, LVMH remains committed to its growth strategy in China. Executives acknowledged a recent decline in Chinese consumer spending and travel but emphasised that their investment plans in the region remain unchanged.
News Source: https://apparelresources.com/business-news/retail/lvmh-may-raise-prices-2-3-per-cent-says-deputy-ceo/
(4) Versace owner Capri is the latest victim of Trump tariffs as it posts dismal sales figures
(Photo Credit: Getty Images)
Capri Holdings, the owner of Versace, Michael Kors, and Jimmy Choo, has reported a significant decline in sales, down 15.4 per cent to £770 million for the three months ending 29 March 2025, and warned that US tariffs will negatively impact its profits this year. The company is facing challenges as demand for its flagship brands dwindles amid a broader luxury market slowdown.
Capri’s CEO, John Idol, expressed concerns about the uncertainty surrounding the impact of tariffs on the economic environment. The ongoing trade tensions, particularly with China, which is a key growth market for luxury goods, have added to the difficulties faced by the sector.
Despite these challenges, John Idol remains optimistic, stating that he expects luxury demand to improve throughout the current financial year, aiming for a return to profitability in the following year. Capri recorded a £890 million loss for the financial year ending March 2025, further highlighting the tough trading conditions the company is navigating.
