Jonathan Anderson to Depart Loewe, China’s Retail Sales Grow and Prada to Open First Restaurant

Jonathan Anderson to Depart Loewe after 11 Years as Creative Director

Loewe has confirmed that Jonathan Anderson will step down as creative director after 11 years, during which he transformed the Spanish leather house into a globally recognized luxury brand. His next move remains unconfirmed, though speculation suggests he may be joining Dior. Under Anderson’s leadership, Loewe expanded its cultural influence, introduced iconic designs like the Puzzle bag, and significantly increased its revenue.

China’s Retail Sales Grow as Policymakers Focus on Domestic Demand

China’s retail sales grew 4.0 percent in January-February, driven by Lunar New Year spending and government subsidies for consumer goods. Policymakers continue to prioritize domestic demand to counter external economic pressures, including new U.S. tariffs. While fiscal and monetary support measures have been introduced, challenges such as slowing exports and a prolonged property downturn persist. Factory output eased, and joblessness rose, highlighting the need for further policy adjustments.

Baidu Unveils Two New AI Models Amid Growing Industry Competition

Baidu has introduced two new AI models, ERNIE X1 and ERNIE 4.5, as competition in the AI sector intensifies. The X1 model emphasizes reasoning and tool autonomy, while ERNIE 4.5 features enhanced multimodal understanding, language capabilities, and contextual memory. Baidu claims X1 matches DeepSeek R1’s performance at half the cost. The company continues to refine its AI offerings amid rising competition from domestic and global rivals.

Volkswagen and FAW Joint Venture to Launch New Models in China by 2026

Volkswagen and FAW Group announced they will introduce 11 new models under the Volkswagen and Jetta brands in China starting in 2026. The lineup will include six electric vehicles, two plug-in hybrids, two extended-range models, and one gasoline-powered vehicle. This move is part of a broader agreement signed between the two companies in Wolfsburg.

Kering Shares Drop as Demna Gvasalia Named Gucci’s Artistic Director

Kering shares fell 10.7 percent after the company announced that Demna Gvasalia will take over as Gucci’s artistic director in July 2025. Demna, previously at Balenciaga, replaces Sabato De Sarno as the brand seeks to revive declining sales. Gucci, which contributes significantly to Kering’s revenue, saw a 24 percent drop in sales last quarter. Analysts expect a strategic shift, but it remains uncertain when Demna’s influence will be visible in upcoming collections.

Shein Plans to Navigate US Tariffs and Regulatory Challenges

Shein’s executive chairman, Donald Tang, stated that new US tariffs will not impact the company’s ability to serve American consumers. The company is also investing €200 million in European recycling initiatives while facing potential new regulations. Amid speculation about a global stock market listing, Shein aims to enhance transparency and public trust. Besides, with the increasing pollution of Shein, it will likely face a hard sell when it comes to European environmental groups.

Alibaba International Sees Strong Growth in Europe

Alibaba International’s B2B platform reported a 109 percent year-over-year increase in orders from France during the first week of the peak trade season in March. Growth was also strong across Europe, supported by its new initiative, which doubled investment in the region to help Chinese exporters expand. The platform also saw steady gains in the US and rising demand in emerging markets like the Middle East and Asia-Pacific, reflecting a broader expansion of global trade activity.

Prada to Open First Stand-alone Restaurant, Mi Shanghai Prada Rong Zhai, in Shanghai

Prada is set to launch Mi Shang Prada Rong Zhai, its first independent dining space, at Rong Zhai in Shanghai. The project, conceived by Hong Kong director Wong Kar Wai, draws inspiration from the tête-bêche stamp concept and his signature cinematic style. The interior design incorporates mirrors and contrasting elements, referencing Wong’s films like In the Mood for Love and Happy Together, blending cultural and visual influences.