Asia Fashion Weekly News Bulletin – ISSUE 52 Week of 16 February 2026
(1) China’s high‑net‑worth buyers lift Hermès’ sales
Hermès posted strong Q4 and full-year revenue growth fueled by Asia’s high-net-worth buyers, especially in Greater China, while emphasizing experiential retail and craftsmanship to sustain resilience amid cautious luxury spending trends.
(2) Borsalino eyes expansion across Greater China
Borsalino partners with Shanghai’s Essence Group for a five-year expansion partnership in Greater China, starting with a 2026 Shanghai flagship store and aiming for 40 mono-brand outlets plus e-commerce on local platforms.
(3) Chow Tai Fook looks beyond glitter of gold with younger buyers, higher margins
Chow Tai Fook, China’s largest jewellery retailer, undergoes major transformation ahead of its 2029 centenary. The company shrinks stores, launches high-end collections and targets younger buyers while expanding overseas amid volatile gold prices and sluggish Chinese consumer spending.
(4) Delvaux CEO Jean-Marc Loubier on the brand’s living legacy and the new Hong Kong flagship
Delvaux, the world’s oldest luxury leather goods brand, thrives in Asia under CEO Jean-Marc Loubier. The near-200-year-old Belgian maison has recently opened a signature Hong Kong flagship at K11 Musea. Loubier emphasizes bespoke stores blending heritage craftsmanship with personalized client experiences amid regional expansion.
(1) China’s high‑net‑worth buyers lift Hermès’ sales
(Photo Credit: Hermes)
Hermès reported Q4 2025 revenue growth of 9.8% to 4.1 billion euros, fueled by strong Asian demand excluding Japan. Asia sales, including Greater China, rose 8% and accelerated from the prior quarter. This outperformed luxury peers, with leather goods up 13% for the full year to 16 billion euros total revenue.
China’s high-net-worth individuals, around 1.85 million strong, continue driving ultra-luxury spending despite broader caution. Reports show HNWI consumption dipped amid economic pressures, with forecasts of 10% cuts in luxury budgets next year. Hermès CEO Axel Dumas credits vertical integration and craftsmanship for resilience.
The brand emphasizes experiential retail, including workshops and special events in key cities like Shanghai and Hong Kong. CEO Axel Dumas highlighted plans for moderate price increases and store upgrades worldwide. Rivals in the ultra-luxury segment report similar strength amid the slowdown.
News Source: https://jingdaily.com/posts/china-s-high-net-worth-buyers-lift-hermes-sales
(2) Borsalino eyes expansion across Greater China
(Photo Credit: Fashion Network)
Historic Italian hat maker Borsalino, founded in 1857 and now under ChimHaeres Investment Holding, forged a strategic alliance with Shanghai’s Essence Group to fuel long-term growth across Greater China.
The five-year plan targets retail and e-commerce expansion. It starts with a flagship mono-brand store in Shanghai during the first half of 2026. Further outlets will follow in Beijing, Nanjing, Guangzhou, Shenzhen, Macau, Hong Kong, and Taiwan. Borsalino aims for around 40 active stores over five years. An online flagship store launches in 2026, backed by marketing on RED, Douyin, and WeChat.
Managing Director Mauro Baglietto highlighted Greater China as a prior weak spot. The brand seeks a 50/50 men’s-women’s sales split with contemporary designs. Hats appeal as both fashion statements and functional items. Borsalino expects functionality to dominate in China, though European trends may sway tastes.
Europe remains the core market, buoyed by American tourists. Asia will gain weight as growth accelerates from mid-2026. Borsalino posted slight 2025 sales gains. New collaborations follow the Karl Lagerfeld tie-up. Leather goods debut for Autumn/Winter 2026 via Gamat. Fragrances and eyewear lines show early promise.
News Source: https://hk.fashionnetwork.com/news/Borsalino-eyes-expansion-across-greater-china,1807176.html#calvin-klein-collection
(3) Chow Tai Fook looks beyond glitter of gold with younger buyers, higher margins
(Photo Credit: Reuters)
Chow Tai Fook is executing its biggest transformation in decades as its 2029 centenary approaches. The Hong Kong-listed retailer, which rivals Tiffany and Cartier, targets China’s younger spenders while retaining traditional high-end customers. Volatile gold prices and weak domestic spending add urgency to the overhaul.
Vice-chairman Sonia Cheng reports positive early results as operating margins hit five-year highs. Fixed-price jewellery now grows faster than traditional lower-margin gold-by-weight sales. Retail sales jumped 17.8 per cent in the December quarter despite shrinking from 7,400 stores in 2024 to 5,813 by end-2025. Mainland China same-store sales have also rose over 20 per cent.
The strategy spans market tiers. Chow Tai Fook launched its first high jewellery collection last year with Cartier-level pricing. This counters local rival Laopu Gold’s rise among affluent shoppers seeking Chinese aesthetics. At the entry level, Lunar New Year horse charms and a HK$480 Disney blind box target Gen Z customers.
Cheng insists young buyers value emotional connections over trends. The mix of weight-based and fixed-price gold provides pricing flexibility amid 2025’s three gold price hikes.
Global expansion follows Thailand and Singapore openings with openings in Southeast Asia, Australia and the Middle East to come next. Analysts call overseas growth essential but challenging for a traditional jewellery brand facing cultural education hurdles abroad.
(4) Delvaux CEO Jean-Marc Loubier on the brand’s living legacy and the new Hong Kong flagship
(Photo Credit: Handout)
Delvaux has carved a strong foothold across Asia from Brussels to Beijing and Hong Kong. CEO Jean-Marc Loubier drives this growth by treating stores as architectural showcases of the brand’s 1829 Belgian heritage. He personally toured the new K11 Musea flagship, highlighting signature Brillant bags as functional art.
Each of Delvaux’s 50 global boutiques offers unique personalization and welcoming service. Loubier positions the brand against standardization, focusing on authenticity. Established as purveyor to Belgium’s Royal Court since 1883, Delvaux collaborates with the Magritte Foundation on artist-inspired motifs.
Loubier rescued the fading maison in 2011 with Hong Kong’s supply chain company Li & Fung and Singapore’s holding company Temasek. He discovered Delvaux’s logo-free silhouettes at Louis Vuitton and saw revival potential in its craftsmanship. International sales now comprise 90 per cent of revenue, up from three per cent.
Asia proved pivotal to the turnaround. Loubier pioneered mainland China’s luxury market in 1992 while Hong Kong serves as a vital crossroads of refined tastes. The K11 Musea store features Art Deco facade, 19th-century gilt mirrors with dragon motifs and Flemish tapestries symbolizing East-West fusion.
A VIC lounge and bar encourage lingering conversations. Its stores elevate accessories as cultural artifacts while fostering inclusive luxury experiences for discerning clients worldwide.
