Nike, Adidas, and Capri Holdings, owner of luxury brands Versace, Jimmy Choo, and Michael Kors, have all warned investors this week that as the coronavirus grips China, sales could take a hit.
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Italian luxury brand Gucci announced a strategic cooperation agreement with Tencent to leverage the Chinese tech giant’s access to abundant data and explore field of smart retail.
Four out of the top five most-mentioned brands associated with the “sneaker” hashtag on social shopping app RED during the study period were luxury brand names, the report finds.