Car Sales Rise, Jil Sander’s New Appointment and Kan’s Brand Ambassador
China’s Car Sales Edge Up 1.3 Percent Amid EV Competition
China’s car sales rose 1.3 percent in the first two months of 2025, driven by government subsidies and growing EV demand. Passenger vehicle sales increased 26.1 percent year-on-year in February after a decline in January due to the Lunar New Year holiday. EV and plug-in hybrid sales accounted for 48.8 percent of total sales, with companies like BYD, Geely, and Xiaomi intensifying competition in the smart EV market. Tesla’s China sales declined, while overall car exports grew 11 percent in February.
Mango Reports Record Profits and Slower Growth in 2024
Spanish fashion retailer Mango reported a 7.6 percent rise in sales to €3.34 billion in 2024, marking a slowdown from the previous year. Net profits grew 27 percent to €219 million, supported by investments in store expansions, technology, and logistics. Online sales accounted for nearly a third of total revenue, while international markets remain on the rise in positive global growth, have gone from representing 71 to 78 percent of Mango’s total revenues in 2024. The company opened over 260 new stores, bringing its global presence to nearly 2,850 locations across more than 120 markets.
Jil Sander Appoints Simone Bellotti as New Creative Director
Jil Sander has named Simone Bellotti as its new creative director, following the departure of Lucie and Luke Meier. Bellotti, formerly creative director at Bally, has held roles at Gucci, Bottega Veneta, and Dolce & Gabbana. Parent company OTB Group highlighted his expertise in innovation and historical references. His appointment comes shortly after the Meiers’ final collection for Jil Sander was presented at Milan Fashion Week.
Kans Unveils Actor Lin Yi as New Brand Ambassador
Chinese beauty brand Kans has announced actor Lin Yi as its new brand ambassador. Known for his performances in several popular TV shows, Lin brings significant popularity and a positive reputation to the brand. Kans, which focuses on scientific anti-aging stands out in the competitive beauty market with its innovative technology and stringent quality control.
Leapmotor Reports First Profitable Quarter in Q4 2024
Leapmotor posted a net profit of RMB 80 million(approximately $11 million) in Q4 2024, achieving profitability one year ahead of schedule and becoming the second EV startup to reach this milestone. The company reported a record-high gross margin of 13.3 percent in Q4. Total vehicle deliveries for 2024 reached 293,724 units, up 103.8 percent from 2023. Annual revenue grew 92 percent year-over-year to RMB 32.16 billion(approximately $4.45 billion), while the full-year net loss narrowed to RMB 2.82 billion (approximately $390 million) from RMB 4.22 billion (approximately $580 million) in 2023.
Naixue Shares Drop Over 20 Percent Amid Index Removal and Profit Warning
Chinese bubble tea brand Naixue saw its stock plunge over 20 percent on March 10 due to adjustments in the Hang Seng Composite Index. The decline was further fueled by the company’s profit warning issued on March 7, projecting an adjusted net loss of RMB 880 million to 970 million (approximately $122 million to $135 million) for 2024. The company cited weak consumer demand, intensified competition, and store closures as key factors. Naixue has slowed store expansion and introduced franchising, though high entry costs pose challenges in a competitive market.
Foxconn Launches First Large Language Model, FoxBrain
Foxconn has unveiled its first large language model, FoxBrain, developed using 120 Nvidia H100 GPUs in about four weeks. The model, based on Meta’s Llama 3.1 architecture, aims to improve data analysis, decision support and problem-solving in manufacturing and supply chain management. While Foxconn noted a slight performance gap compared to DeepSeek model, it plans to expand FoxBrain’s applications through collaborations with technology partners and promote AI integration in various sectors.
Kans Takes Top Spot in TikTok’s Beauty Great Sales on March 8
Kans topped the TikTok’s beauty great sales rankings on March 8, followed by Proya and Estée Lauder. The event saw a significant increase in brands achieving over RMB 100 million (approximately $ 14 million) GMV, with 14 brands surpassing this milestone, up from 10 last year. Domestic brands including Chando and Marubi showed impressive growth with Chando moving up to 4th from 11th last year. International brands like Estée Lauder, Lancôme and Shiseido remained competitive, securing a strong presence in the top 20.
