Fashion

Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros ($258 billion) this year, their largest ever drop and first since 2009, due to the fallout from the coronavirus pandemic, consultancy Bain said on Wednesday.

Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros ($258 billion) this year, their largest ever drop and first since 2009, due to the fallout from the coronavirus pandemic, consultancy Bain said on Wednesday.

Sales of luxury goods worldwide are set to fall by 23% to 217 billion euros ($258 billion) this year, their largest ever drop and first since 2009, due to the fallout from the coronavirus pandemic, consultancy Bain said on Wednesday.

Baggy pants and oversized t-shirts helped spare Japanese fashion brand Uniqlo from the steep coronavirus-led fall in sales that hit rival fashion chains such as H&M and Zara.

Baggy pants and oversized t-shirts helped spare Japanese fashion brand Uniqlo from the steep coronavirus-led fall in sales that hit rival fashion chains such as H&M and Zara.

Alibaba Group Holding Ltd and Swiss group Richemont will invest $1.1 billion in online luxury fashion retailer Farfetch Ltd and its new marketplace in China, as online demand for luxury goods booms in the Asian country.

German fashion house Hugo Boss said on Tuesday it was focused on driving a recovery of its business online and in China and tapping into the trend for more casual fashion that has been accelerated by the coronavirus pandemic.

German fashion house Hugo Boss said on Tuesday it was focused on driving a recovery of its business online and in China and tapping into the trend for more casual fashion that has been accelerated by the coronavirus pandemic.

Honor of Kings, Tencent's flagship video game, announced a record 100 million daily active users worldwide and said it was expanding into other genres and forming a tie-up with British luxury group Burberry.