While travel to Europe remains muted, Chinese shoppers are flocking to Singapore, Thailand and other Southeast Asian destinations where fashion retailers are hoping Lunar New Year marketing investments will pay off.

Despite the country’s protracted property crisis, deflationary pressures and other economic headwinds, its domestic luxury market is expected to grow 4 to 6 percent in 2024, outpacing both Europe and the US.

Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.

As the country’s economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious.

This week’s round-up of global markets fashion business news also reveals the succession plan for an Indian retail billionaire, Kenya’s strategy to revitalise its textile industry and forced labour in Turkmenistan’s cotton harvest.

This week’s round-up of global markets fashion business news also features pan-African e-commerce major Jumia, the Kuwaiti venture of UAE-based Apparel Group and a wage hike for Cambodian garment workers.

This week’s global markets round-up of fashion business news also features Turkey’s retail sales rose 28.5 percent year on year in June, South Indian mills cut discounts amid rising cotton prices and 422 facilities are named on Pakistan Accord’s first supplier list.

Luxury brands are betting on store upgrades, tax-free shopping and VIC strategies to drive sales in China, writes Pierre Mallevays.