Lululemon Sees Revenue Growth in Q1, P&G to Cut 7,000 Jobs and US Textile and Apparel Imports Rise

Pop Mart Surpasses Sanrio in Market Value

Pop Mart, a leading Chinese toy company, has reached a market value of HK$250 billion, surpassing Japan’s Sanrio for the first time. This achievement comes on the back of its “Labubu” IP, which has seen global demand and strong sales, particularly in Europe and the US. The company plans to expand its overseas stores by 80 percent in 2025. With over 500 stores worldwide, Pop Mart’s international revenue growth is expected to outpace its domestic market by 2025.

P&G to Cut 7,000 Jobs as Part of Restructuring Plan

Procter & Gamble announced that it will reduce its workforce by 7,000 employees globally over the next two years, representing approximately 15 percent of its non-production staff. This move is part of the company’s ongoing restructuring efforts to streamline non-core business areas. In addition, the company plans to exit certain product categories, brands, and markets, with the possibility of divesting some of its brands. As of June 30, 2024, P&G employed over 100,000 people worldwide.

Prada Acquires Stake in Leather Manufacturer Rino Mastrotto Group

Prada Group has announced a strategic investment in the Italian leather industry by acquiring a 10 percent stake in Rino Mastrotto Group, a renowned global leather supplier. As part of this move, Prada will also integrate its two leather factories, Conceria Superior S.p.A. and Tannerie Limoges S.A.S., into Rino Mastrotto Group. The company, which serves industries like luxury goods, automotive, and interior design, has annual revenues of approximately 360 million euros. This investment continues Prada’s focus on enhancing control over key production stages and reinforcing its commitment to quality, innovation, and sustainability.

US Textile and Apparel Imports Rise Ahead of Trump Tariffs

US textile and apparel imports surged by 9.4 percent in Q1 2025, totaling $26.9 billion, driven by uncertainty around impending tariffs announced by Donald Trump in April. Asian suppliers, such as Vietnam, India, and Bangladesh, saw significant growth, while China’s sales grew by only 3.6 percent. The European Union and Latin America saw limited gains. The shift in imports reflects preparations for potential trade disruptions following Trump’s tariff announcements.

Laopu Gold Becomes Hong Kong’s Most Expensive Stock

Chinese jeweler Laopu Gold has seen its stock price rise over 2,300 percent since its June 2024 debut, reaching HK$1,000 per share, making it the highest-priced stock in Hong Kong. The surge reflects growing investor interest in domestic brands catering to China’s Gen Z consumers. However, the high price may limit retail investor participation, as the minimum trading unit requires an investment of at least HK$100,000.

Chow Tai Fook Launches First High Jewelry Collection in Hangzhou

Chow Tai Fook, the 96-year-old Hong Kong jewelry group, has launched its first high jewelry collection, “Timeless Harmony,” marking a significant step in the brand’s transformation. Designed by Nicholas Lieou, the collection features 170 pieces inspired by traditional Chinese art, philosophy, and architecture. The debut event in Hangzhou is set against the backdrop of the city’s serene beauty, with the collection celebrating elements like the lotus flower and ancient Chinese philosophy. This move aims to enhance the brand’s profile in the growing high jewelry market, particularly among China’s affluent consumers.

Lululemon Sees Revenue Growth in Q1

Lululemon reported a 7.3 percent rise in Q1 revenue, reaching $2.37 billion, with net income slightly down by 2.1 percent to $314.6 million. CEO Calvin McDonald noted that while the company gained market share in the premium athleticwear market, US consumers are becoming more cautious in their spending. The company also reduced its profit outlook for the year, which led to a 22 percent drop in stock price after hours. Despite this, Lululemon remains optimistic about its long-term strategy and international growth.

Timage Expands into Skincare with New Product Launch

Timage, a cosmetics brand under Proya Group, has officially entered the skincare market with the launch of its new mask product. This marks the brand’s return to skincare after nearly a decade. While Timage has experienced significant growth since Proya’s acquisition, this move aligns with a broader trend in the industry where major beauty brands, like Maogeping and Perfect Diary, are diversifying their portfolios. As competition intensifies in the skincare sector, the success of Timage’s new product will depend on its market positioning and brand strength.