Luxury, Retail and FMCG News & Trends: June Week 4

Luxury, Retail and FMCG News & Trends: June Week 4

Luxury, Retail and FMCG News & Trends 

1. Trends: Men’s Fine Jewellery Gains Traction in China 

The demand for men’s fine jewellery is reshaping the global luxury market. The trend is especially prominent in China, where evolving cultural norms and high-profile celebrity endorsements are making traditionally feminine adornments popular among men. In China, male celebrities’ adoption of gender-fluid jewellery has normalised this trend, encouraging young men to experiment with their style. Brands like Louis Vuitton, David Yurman, and John Hardy have launched dedicated men’s collections to tap into this growing market, offering products that blend bold designs with luxurious craftsmanship. The men’s luxury fine jewellery market, valued at $7.3 billion in 2023, is growing faster (7.3% annually) than the women’s segment (4.6%). This trend is also propelled by local Chinese brands excelling in digital strategies and innovative designs. 

Read the full article about the demand for men’s fine jewellery. 


2. Business Moves 

i. Luxury Brands Fund Revamps for Hong Kong’s High-End Landmark Mall  

Hongkong Land Holdings and 10 luxury retail tenants, including Hermes and Louis Vuitton, will invest US$1 billion to revamp the Landmark mall in Hong Kong. The plan involves expanding and upgrading retail spaces to strengthen Hong Kong Central’s status as a luxury retail hub. Hongkong Land will contribute US$400 million, with the tenants providing the remaining US$600 million. The renovation will double the current shop space and include high-end restaurants and new food and beverage brands. It will enable brands to meet luxury shoppers’ evolving demands for personalised services and private spaces. 

Read the full article about the revamping of Hong Kong’s high-end mall. 


ii. Burberry Launches Knight Bar in Hong Kong 

Luxury brands are increasingly opening unique sites aimed at promoting their brands. These include beach and ski resorts. Following its peers, Burberry recently launched the Knight Bar at The Landmark Mandarin Oriental’s MO Bar in Hong Kong. This new venture is part of the marketing efforts for the Rocking Horse bag in one of Burberry’s key markets. Guests can enjoy a British dining experience and redeem gifts from Burberry’s store vending machine. The bar takeover coincides with the opening of Burberry’s new store in the Landmark shopping centre. 

Read the full article about Burberry’s Hong Kong bar. 


iii. Amazon to Launch Direct Shipping from China to Counter Competitors 

Amazon plans to launch an online storefront for affordable apparel and home goods aimed at countering discount competitors like Temu and Shein. The new section on Amazon’s website will ship goods directly from China and will initially be accessible only to invited sellers. The launch is set for July 5 in Yiwu, a major Chinese manufacturing hub. The move aligns with Amazon’s broader strategy, which includes reducing fees for merchants selling low-priced clothing. 

Read the full article about Amazon’s plans for direct shipping from China. 


iv. British Consumer Group Reckitt to Open R&D Centre in Shanghai 

British multinational consumer goods group Reckitt announced an investment of over 300 million yuan (US$41.7 million) to establish a global R&D centre in Shanghai’s Caohejing High-Tech Park. The facility will be operational in 2026 and will be Reckitt’s ninth R&D centre worldwide. The new R&D site will focus on developing all Reckitt brands in China, including Durex, Dettol, Movefree, and Finish. The company aims to adapt to market trends, such as increased health and wellness awareness and demand for nutritional supplements. 

Read the full article about Reckitt’s R&D centre in Shanghai. 


v. SHEIN Launches Korean Site and Signs Kim You-Jung as Ambassador 

Chinese e-commerce fashion platform Shein launched a new Korean shopping platform as it seeks to capitalise on Korea’s influence in global fashion and culture. Shein’s entry into the Korean market is causing tension among local online fashion platforms like Musinsa and Zigzag, as well as SPA brands, and e-commerce giants such as Coupang. Kim You-Jung will also become the first South Korean celebrity confirmed as an ambassador for SHEIN’s sub-brand, DAZY. 

Read the full article about SHEIN’s Korean site. 


vi. LVMH CEO Arnault Acquires Small Stake in Rival Richemont 

LVMH chairman and CEO Bernard Arnault made a personal investment in Richemont, the Swiss luxury group behind Cartier. This small shareholding is not expected to influence LVMH’s strategy or create immediate synergies between the two companies. Richemont’s autonomy remains well-protected by chairman Johann Rupert, who controls 51% of voting rights despite owning only 10.2% of shares. Arnault’s investment is unlikely to raise antitrust issues but signals his interest in Richemont, which may affect market perceptions and potentially Richemont’s strategy. 

Read the full article about LVMH’s acquisition of Richemont’s stakes. 


vii. LVMH Buys Luxury Swiss Clockmaker L’Epée 1839 

LVMH acquired Swiza, the owner of high-end Swiss clockmaker L’Epée 1839. L’Epée 1839’s CEO, Arnaud Nicolas, and over 80 designers, engineers, mechanics, watchmakers and employees will continue to serve under LVMH. The company, based in Delémont, is renowned for its in-house crafted clocks featuring complex horological features, designs with a poetic or humorous touch, and power reserves lasting up to a year. L’Epée 1839 has a long history of innovation and prestigious collaborations, including projects with LVMH brands like Tiffany and Louis Vuitton. 

Read the full article about LVMH’s acquisition of the swiss clockmaker. 


3. People Moves: Puma and Amore Pacific 

Puma: Puma hired Erik Janshen as the head of its global direct-to-consumer (DTC) business, covering owned stores,, and online marketplaces. Janshen has over a decade of experience in digital sales and DTC and previously served as SVP of digital sales for Tommy Hilfiger and Calvin Klein at PVH Corp. Enhancing distribution quality and connecting consumers with Puma products online and offline was noted as a strategic priority for Puma. Janshen succeeds Karthik Balagopalan, who has been managing the DTC business on an interim basis and now leads Puma India. 

Amore Pacific: Taeho Park was appointed as the new President of Amorepacific China, taking over from Mike Hwang. Park has been with Amorepacific since 2000 and recently led the Business Planning Department. In his new role, Park will drive the China business into a new phase of growth, building on his extensive experience in retail and brand management. Hwang, who has been with Amorepacific since 1999, previously served as General Manager of the China Strategy and Innovation Department before becoming President of Amorepacific China in 2022.

Read the full article about Puma’s DTC head from PVH. 

Read the full article about Amore Pacific’s new China head.

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Images Sources:

  • Jingdaily
  • Bloomberg
  • Shein