Asics Reports Record Quarterly Sales, Daniel Lee to Stay at Burberry and Bain Lowers Luxury Market Forecast

Zeekr Reports Q1 2025 Revenue and Highest-Ever Gross Margin

Zeekr Technology posted RMB 22 billion in revenue for Q1 2025, with vehicle sales accounting for RMB 19.1 billion, up 16.1 percent year-over-year. The company reported a vehicle gross margin of 16.5 percent and an all-time high overall gross margin of 19.1 percent. Net loss narrowed by over 60 percent, and net profit reached RMB 510 million, marking the third consecutive profitable quarter. Combined Zeekr and Lynk & Co sales totaled 155,327 units from January to April.

Louis Vuitton’s The Hall Collaborates with Michelin-Starred Restaurant

Louis Vuitton’s The Hall will host a two-day culinary collaboration with Hong Kong-based Michelin restaurant Wing on May 16–17, 2025, presenting a Chengdu-exclusive dining experience. The event blends European and Chinese culinary approaches, featuring seasonal local ingredients. Chef Vicky Cheng of Wing and The Hall’s Executive Chef Leonardo Zambrino will bring their diverse backgrounds to the table, offering a dialogue between Eastern tradition and Western technique.

Swire Properties Q1 Mainland Retail Projects Show Mixed Sales Performance

Swire Properties reported Q1 2025 operational data, with retail sales rising at Beijing’s Taikoo Li Sanlitun for 6 percent, Shanghai’s HKRI Taikoo Hui for 10.1 percent, and Taikoo Li Qiantan for 1.5 percent. Sales declined at Taikoo Hui Guangzhou for 2.5 percent, Indigo Beijing for 0.4 percent, and Taikoo Li Chengdu for 2.9 percent. Development projects in Beijing, Shanghai, Sanya, Xi’an, and Guangzhou are scheduled to complete in phases starting 2026.

Daniel Lee to Stay at Burberry Amid Brand Restructuring

Daniel Lee will remain as Chief Creative Officer at Burberry, CEO Josh Schulman confirmed, following speculation about Lee’s potential move to Jil Sander. The confirmation came as Burberry announced staff restructuring and follows strong industry response to the brand’s Fall/Winter 2025 show. Lee will continue working with the executive team to lead the brand’s transformation in product design, aesthetics, and cultural positioning.

Asics Reports Record Quarterly Sales in Q1 FY2025

Asics reported Q1 FY2025 net sales of 208.3 billion yen, up 19.7 percent year-over-year and surpassing 200 billion yen in a quarter for the first time. The focus on high-end products in the performance running category was a highlight, resulting in net sales of 98.0 billion yen, an 11.5 percent increase, supported by strong demand in Japan, Europe, and South and Southeast Asia. The sportstyle category also contributed to overall growth.

Loewe’s New Creative Directors to Debut First Collection in October

Jack McCollough and Lazaro Hernandez will present their first Loewe collection during Paris Fashion Week in October, for the Spring 2026 season. The Proenza Schouler founders assumed full creative responsibility at Loewe following Jonathan Anderson’s departure. They recently relocated to Paris and will oversee all product categories, including womenswear, menswear, and leather goods.

Bain Lowers Luxury Market Forecast Amid Economic Pressures

Bain & Company has revised its 2025 luxury market forecast, projecting a 2 percent to 5 percent decline in global sales, down from its earlier estimate of up to 4 percent growth. The update follows a 1 percent sales dip in 2024, driven by economic headwinds, high prices, and changing consumer behavior. Industry-wide adjustments include new creative leadership at major brands and shifts in global demand, especially in the US and China.

Topsports Becomes Exclusive China Partner for Norrøna and Soar

Chinese sportswear retailer Topsports has signed exclusive partnerships with two international brands, UK-based running brand Soar and Norwegian outdoor brand Norrøna. Soar will expand its presence in China through flagship retail and community events, while Norrøna marks its second attempt to enter the Chinese market. Topsports will manage brand operations, marketing, and sales for both, aiming to align global brand values with local consumer preferences.