Loewe New Appointments, Miniso Reports Strong Growth and Shanghai Jahwa’s New Makeup Brand

Loewe Appoints Proenza Schouler Founders as New Creative Directors

Loewe has named Jack McCollough and Lazaro Hernandez, the founders of Proenza Schouler, as its new creative directors, effective April 7. They succeed Jonathan Anderson, who led the brand for 11 years. The duo will oversee all Loewe collections across fashion and accessories. Their appointment follows long-standing discussions with LVMH, which owns Loewe.

Miniso Reports Strong Growth in 2024, Expands Global Presence

Chinese lifestyle retailer Miniso reported RMB ¥17 billion ($2.36 billion) in total revenue for 2024, a 22.8 percent year-over-year increase, with overseas revenue reaching RMB ¥6.68 billion ($930 million), up 42.0 percent. The company expanded its global store network to 7,780 locations, adding 1,219 stores in 2024. Miniso also introduced its flagship store format, Miniso Land, and accelerated international expansion, opening high-profile stores in key markets such as Paris, Jakarta, and major U.S. and U.K. cities. Meanwhile, its designer toy brand Top Toy reported ¥980 million ($136 million) in revenue, up 45 percent, and expanded into Southeast Asia.

China’s Tourism Stocks Surge Ahead of Holiday Travel Boom

On March 24, China’s tourism stocks surged, with Zhangjiajie and Dalian Sun-Asia hitting the daily limit. The rise follows Guangdong’s new tourism development plan, aiming for over 950 million annual visitors by 2027. Data from travel platforms show increased demand for short-haul trips during the Qingming Festival, particularly in major city clusters like Beijing-Tianjin-Hebei and the Yangtze River Delta. Domestic flight bookings have risen by 12 percent year-over-year, while international bookings increased by 24 percent. Analysts expect continued growth driven by evolving travel preferences and digital integration in the tourism sector.

F1 Chinese Grand Prix 2025 Draws Strong Attendance and Tourism Boost

The 2025 F1 Chinese Grand Prix concluded on March 23 at the Shanghai International Circuit, attracting a significant number of motorsport fans. According to Trip.com, 78 percent of ticket buyers traveled from other regions in China, while 21 percent were international visitors. Large-scale events like F1 drive intercity and cross-border tourism. In 2024, the race drew over 200,000 spectators, increased Shanghai hotel bookings by 63 percent, and boosted local business revenue. The 2025 event is expected to surpass last year’s attendance, reaching approximately 220,000 spectators.

Shanghai Jahwa Expands Portfolio with New Makeup Brand NAN Beauty

Shanghai Jahwa has announced the launch of a new makeup brand, NAN Beauty, in collaboration with renowned makeup artist Chun Nan (also known as Li Chunsheng). Chun Nan, founder of the professional makeup training institute NAN Beauty, has worked on multiple TV dramas and appeared on variety shows. This marks Shanghai Jahwa’s expansion into the makeup sector. The company also introduced its skincare brand, TAZU, in its 2023 interim report, while NAN Beauty is newly disclosed.

TikTok Shop Opens EU and UK Markets to Mainland China and Hong Kong

TikTok Shop has updated its cross-border seller policy, allowing legally registered businesses from mainland China and Hong Kong to open stores in the EU (Germany, Spain, France, Italy) and the UK. Previously limited to local companies, this change simplifies market entry for Chinese sellers. Businesses must meet EU CE and UKCA certification standards and use approved logistics services. The platform has also streamlined the review process to seven working days and introduced a compliance guide. This move aligns with TikTok Shop’s global expansion strategy, with plans to add 10 more eligible countries.

H&M Q1 2025 Outlook: Earnings Pressure but Valuation Remains Attractive

H&M faces continued gross margin headwinds in Q1 2025 due to price investments, increased markdowns, and external factors like FX and freight costs. Revenue is expected to grow around 2 percent in local currencies, with reported growth at 4 percent due to FX effects. While efficiency measures help offset some costs, lower gross margins and higher marketing expenses impact profitability. Despite revised earnings estimates and a lowered target price (SEK 150 from SEK 160), H&M’s valuation remains below historical levels, with mid-term earnings growth expected. The company will report Q1 results on March 27.

Mandarin Oriental Reports 2024 Revenue Growth and Expansion Plans

Mandarin Oriental Hotel Group reported a 13 percent increase in total managed hotel revenue to $2.1 billion in 2024, driven by a 7 percent rise in RevPAR and an 11 percent growth in F&B revenue. The group expanded its portfolio with openings in London, Muscat, and Beijing, along with a brand transition in Riyadh. Looking ahead, new projects include a luxury hotel in Suzhou set for 2026. Mandarin Oriental also fully acquired its Exceptional Homes division, now covering 26 high-end destinations.