LVMH Watches Appoints New CEO, Zegna Group Projects Revenue Growth and TikTok Shop Expands to Europe
Jean-Christophe Babin Appoints CEO of LVMH Watches
Jean-Christophe Babin has been named CEO of LVMH Watches, succeeding Frédéric Arnault, who now leads Loro Piana. Babin will continue as CEO of Bvlgari while overseeing brands like Hublot, TAG Heuer, and Zenith. He brings extensive experience, having led TAG Heuer for 12 years before moving to Bvlgari in 2013. This appointment is part of a broader leadership shift at LVMH, which recently placed several executives in key roles across its luxury brands.
Zegna Group Projects Revenue Growth Despite Market Uncertainty
Ermenegildo Zegna Group expects revenues to reach €2.2–€2.4 billion by 2027, supported by investments in R&D, AI, and store expansions. In 2024, EBIT declined to €184 million due to higher taxes, but exceeded analyst expectations. Sales varied across brands and regions, with Tom Ford Fashion growing 33.5 percent while Greater China sales fell 14.5 percent. The company remains cautious about China in 2025 but sees growth potential in Latin America and the U.S.
China Expands Payment Options for Foreign Visitors
China is enhancing its payment infrastructure to support international visitors, allowing more merchants to accept foreign bank cards and enabling wider use of overseas e-wallets. WeChat Pay and Alipay now support foreign card binding, and 32 international e-wallets are operational in China. The country is also promoting digital RMB adoption among foreign users, introducing a feature that links directly to Visa and Mastercard. These efforts align with broader financial integration goals, including potential digital RMB trials in Hong Kong.
Chicjoc Opens First Paris Store and Launches Signature Perfume Line
Chinese womenswear brand Chicjoc opened its first European flagship store in Paris’ Le Village Royal, marking a new phase in its global expansion. Alongside the store launch, Chicjoc debuted its first France-made perfume, Aube Oranger, created in collaboration with renowned perfumer Dominique Ropion. The brand continues its international growth following store openings in California and plans further expansion into Milan, New York, and Tokyo.
Gregory Opens Its First Store in China at Shanghai Grand Gateway
American outdoor gear brand Gregory has opened its first physical store in China at Grand Gateway 66 in Shanghai. The store features a modern minimalist design, showcasing the brand’s history and outdoor heritage. Key product lines include the Baltoro and Deva series, as well as the new Kiro series with Cloud Control waist belts and perforated 3D foam back panels. The Jawbreaker series, made with eco-friendly materials, caters to urban commuters. This opening marks the brand’s entry into the Chinese market, with plans to expand its presence further.
Shein to Invest $70 Million in Supplier Empowerment by 2028
Shein has committed $70 million to its Supplier Community Empowerment Program (SCEP) by 2028, aiming to enhance production facilities and labor conditions. By the end of 2024, the company had allocated over $33 million to the program, upgrading 203 factories with automation and efficiency improvements. Additional investments have gone into factory upgrades, worker accommodations, and training programs, with over 20,000 participants in 2024. Shein also continues its childcare initiative, with 25 operational daycare centers benefiting over 1,000 children.
TikTok Shop Expands to Italy, France, and Germany on March 31
TikTok Shop will launch in Italy, France, and Germany on March 31, integrating short videos, live-streaming, and personalized digital storefronts to enhance social commerce. Users can purchase products directly from their feeds or live sessions, while brands, SMEs, and creators showcase items through interactive content. TikTok’s algorithm will tailor product recommendations, and the platform has pledged strict oversight of vendors and listings. The expansion is expected to boost engagement and online sales for participating businesses and influencers.
Muji Launches Spring/Summer Hemp Collection
Muji introduced its new spring/summer hemp clothing collection, naming actor Takeshi Kaneshiro as its first ambassador. The campaign highlights Muji’s lifestyle concept of “Living Naturally” through minimalist storytelling. Sourced from Heilongjiang, China, Muji’s hemp fabric emphasizes breathability and comfort while reflecting the brand’s values of simplicity and sustainability. The initiative aims to connect with like-minded individuals who appreciate Muji’s philosophy of balanced intellect and emotion.
