Up to 35% of the luxury retailer’s stores were shut during April and May

Social media users blast product that admittedly won’t stop rain as example of excess contradicting Xi Jinping’s ‘common prosperity’ campaign

Kering SA names Liu as its first Asian board member, alongside other new members British actress Emma Watson and former Credit Suisse CEO Tidjane Thiam

LVMH Moet Hennessy, Hermes report their China stores have returned to growth after reopening from months-long shutdowns during Covid-19 outbreak

Although sales rose in April with lifting of Covid-19 lockdowns in China, ‘we have to be very cautious’ about the outlook as economies contract, CFO says

Pent-up demand as quarantine measures ease promises to buoy sales of Ferragamo, Hermes, Chow Tai Fook, industry analysts say

Shares tumble in Japan, Europe amid talk of authorities looking for travelers returning with suitcases of high-end goods

Analyst says impact will be limited as large gap remains in prices of products sold at home and abroad

Italian retailer sees big potential away from its stores located in 15 Chinese cities