Vietnam 

Japanese firm acquires Elise fashion brand – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Advantage Partners has acquired Elise Fashion for its leading position in the women’s fashion market. — Photo websosanh.vn Viet Nam News HÀ NỘI — Japanese investment firm Advantage Partners has acquired Elise Fashion Limited, one of Việt Nam’s top fashion brands for women, and its affiliate companies. The deal was made through its Advantage Partners Asia Fund and affiliated entities for an undisclosed value. This transaction marked the first acquisition between Advantage Partners and a Vietnamese company, the firm said in a press release. “AP Funds were…

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Home 

Singapore’s Zilingo raises US$226 million to expand fashion site inspired by Bangkok’s Chatuchak market

Zilingo, a Singapore-based online fashion marketplace, raised US$226 million to fund an expansion into the Philippines, Indonesia and Australia. Investors in the series D financing included Sequoia Capital, Temasek Holdings, Burda Principal Investments, Sofina and EDBI, the company said on Tuesday without disclosing a valuation. The start-up is valued at US$970 million, according to people familiar with the matter who asked not to be named because the information is private. Zilingo, founded by Ankiti Bose and Dhruv Kapoor, started as a fashion and lifestyle marketplace in 2015 to help small…

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Singapore 

Case says more than 38 ‘misled’ by e-shop’s hidden membership fees; Fashion Interactive denies using ‘fine print’, Singapore News

SINGAPORE – Online shoppers are being warned about reading the fine print after several complaints about an online shop’s membership programme. The Consumers Association of Singapore (Case) said that it started receiving complaints from customers of Fashion Interactive as early as November 2015. The firm runs an e-commerce site called myglamorous.sg and sells footwear, Case said in a statement on Wednesday (Jan 16). Consumers were unaware of being automatically enrolled in a membership programme after making a purchase and were charged recurring monthly membership fees. They had overlooked the membership enrolment as…

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Vietnam 

VN Fashion Fair 2018 to open in Hà Nội – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Booths at Việt Nam Fashion Fair 2017. – Photo vietnamnet.vn Viet Nam News HÀ NỘI — Việt Nam Fashion Fair 2018 will open its doors on Thursday in the capital, showcasing apparel, leather, footwear, jewellery and beauty services. The fair will feature more than 200 stalls on a 4,000sq.m site with the participation of nearly 150 businesses including some from Indonesia and South Korea, according to the Việt Nam Exhibition Fair Centre JSC (VEFAC), one of the event’s organisers. Among the exhibitors are renowned domestic garment and…

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Ecommerce 

Meet the man who wants to upend China’s fashion industry with an app called Mogujie

Shark Chen Qi got the idea to create fashion-centric social commerce firm Mogujie from helping his wife operate an online make-up and skincare community. Last week, the company, which claims to have pioneered the live-streaming e-commerce model, finally went public on Nasdaq with an estimated valuation of about US$1.3 billion. Now, the hard part is convincing investors that it can eventually turn a profit. Mogujie, founded in 2011, has attracted heavyweight investors including the likes of Tencent and JD.com and has been labelled as China’s combination of Pinterest and Amazon.…

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Home 

Esprit’s revamp to cost US$255 million as fashion retailer wields axe on staff and stores globally

Fashion retailer Esprit Holdings will take a one-off charge of HK$2 billion (US$255 million) as it lays off 40 per cent of office staff and closes stores globally in an effort to return to profit, it announced on Monday. The Hong Kong-listed company recorded a net loss of HK$2.5 billion for the year ended June 2018, compared to a net profit of HK$67 million the previous year amid declining customer traffic and increased competition in e-commerce channels, according to its annual report. In an effort to return to profit the…

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Global 

China’s import expo to woo world with Pakistani fashion show and matchmaking British firms

China is promising an international flavour at next week’s import expo in Shanghai to try to restore the world’s confidence and fortify its economy against the trade war with the US. Britain-China business matching and a Pakistani fashion show will feature alongside conferences with global themes at the week-long China International Import Expo, in the latest and most eye-catching effort from Beijing this year to open up its domestic market to foreign investors and companies. It comes with confidence in doing business in the world’s second-largest economy slipping away during…

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Vietnam 

Vietnamese firms display fashion products at Hong Kong fair – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HONG KONG — Thirty-five leading manufacturers of handicrafts, garments, textiles, and fashion accessories and garment-related industries in Việt Nam are displaying their products at an international fair in Hong Kong that opened on Saturday.  Global Sources Fashion, Hong Kong’s largest fashion sourcing event, also showcases footwear, fabrics and underwear.    The event features verified suppliers from major fashion manufacturing hubs such as Việt Nam, China, Hong Kong, Taiwan, South Korea, Bangladesh, India, and Indonesia.  This year 10 manufacturers from the Handicraft and Wood Industry Association of HCM City are participating in…

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China 

Hong Kong’s new fight against fast fashion, Business News

HONG KONG – Despite Hong Kong’s reputation for rampant consumerism, a nascent movement against fast fashion is taking root in the city, with clothes-mending workshops and pop-up swaps growing in popularity, and designers parading recycled fabrics on the catwalk. From broken umbrellas to discarded curtains, no material is too shabby for designer Jesse Lee, who showcased his creations at a recent sustainable fashion show in Hong Kong. Lee realised that humble household goods could be the springboard for creativity when his family was throwing out an old sofa. He turned the…

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