Shein Raises Prices in US, Mammut Names New Ambassador and Lao Fengxiang Sees Drop in Q1
Puig Reports 8 Percent Sales Growth in Q1, Exceeding Expectations
Barcelona-based beauty group Puig reported an 8 percent year-over-year sales increase in Q1 to 1.21 billion euros ($1.38 billion), surpassing market expectations. Despite strong results, Puig maintained its full-year forecast for slower revenue growth of 6 percent-8 percent, factoring in potential U.S. tariffs. Fragrance and fashion sales rose 10 percent, while cosmetics sales declined 4.2 percent.
Shein Raises US Prices Ahead of New Tariff Implementation
Fast fashion retailer Shein increased prices on a range of products in the US ahead of new small-package tariffs. Data shows average prices for the top 100 beauty and health products rose 51 percent last Friday compared to the day before, with some items doubling in price. Home, kitchen, and toy categories saw average increases of over 30 percent, while a kitchen towel set surged by 377 percent. Women’s apparel prices rose by 8 percent.
Mammut Names Actor Zhang Ruoyun as Global Brand Ambassador
On April 28, Swiss outdoor brand Mammut announced Chinese actor Zhang Ruoyun as its new global ambassador. Known for his roles in popular series, Zhang’s resilient and adventurous image aligns with Mammut’s brand spirit. The partnership aims to strengthen Mammut’s presence in China, especially among younger outdoor enthusiasts, with plans for joint brand campaigns and product collaborations.
Lao Fengxiang Q1 Profit Falls 23.55 Percent on Weaker Revenue
Lao Fengxiang reported a net profit of RMB 613 million for Q1 2025, down 23.55 percent year-on-year, with revenue falling 31.64 percent to RMB 17.52 billion. For the full year 2024, revenue dropped 20.50 percent and net profit declined 11.95 percent. The company attributed the decreases to lower sales at key subsidiaries. Lao Fengxiang operates across jewelry, arts and crafts, and stationery sectors, with jewelry remaining its core business.
Li Ning Reports Low-Single-Digit Retail Sales Growth in Q1 2025
Li Ning reported low-single-digit growth in overall retail sales for the first quarter of 2025. Offline channels, including retail and wholesale, also recorded low-single-digit growth, with direct retail slightly declining and wholesale achieving modest growth. E-commerce sales grew between 10 percent and 20 percent. As of March 31, 2025, Li Ning operated 6,088 stores in China, excluding Li Ning Young, with a net decrease of 29 stores year-to-date.
Chagee Appoints New CMO Eugene Lee to Drive Global Expansion
Chagee, a leading Chinese tea brand recently listed on Nasdaq, has appointed Eugene Lee, former International CMO of McDonald’s, as Vice President and Chief Marketing Officer for the Asia-Pacific region. Based in Singapore, Lee will oversee brand development and localization strategies as Chagee expands internationally. With 15 years of experience at McDonald’s, Lee will work closely with Chagee’s global leadership to modernize the tea experience and build brand recognition worldwide.
Uniqlo Launches Collaboration With Honor of Kings
Uniqlo has partnered with the mobile game Honor of Kings to release a new UT collection, commemorating the game’s 10th anniversary. The collection features six T-shirt designs inspired by popular characters and scenes. Uniqlo also hosted an esports event at its Beijing Sanlitun flagship and rolled out in-store promotions in major cities like Shanghai and Shenzhen, offering themed gifts and in-game rewards.
China’s May Day Holiday Boosts Domestic and Inbound Tourism Growth
Ahead of the 2025 May Day holiday, China’s travel market is seeing a strong rebound, driven by the “take four days off, get ten” strategy popular among workers. Domestic travel and outbound tourism have both recorded significant growth, with high demand for long-haul trips and small group tours. Meanwhile, inbound tourism is also rising, fueled by policy incentives and growing interest from international travelers, particularly in cities like Shanghai and Beijing.
