Asia’s Luxury Landscape Is About to Change

Kering and Hermès Results, India's $15 Billion Diwali Opportunity

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WHAT YOU NEED TO KNOW TODAY: FRIDAY, OCTOBER 21, 2022 In high-growth Asian markets, the surge in domestic spending could be at risk. Kering sales grew 14 percent in Q3, though flagship Gucci continued to lag. Fashion players in India are investing big in Diwali merchandise and campaigns. New AI tools can generate clothing designs from something as simple as a text description. Allbirds cut the average carbon footprint of its products by 12 percent last year.

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GLOBAL MARKETS Asia's Luxury Landscape Is About to Change By Khanh Linh

Brands may need to re-evaluate investment priorities as spending patterns shift in high-growth markets from South Korea to Thailand. READ MORE

GLOBAL MARKETS How to Tap India's $15 Billion Diwali Shopping Opportunity By Arnika Thakur

Fashion brands and e-tailers are increasing their investment in merchandise and campaigns pegged to India's biggest holiday after two years of muted celebrations. READ MORE

TECHNOLOGY AI Is Designing Clothes Now By Marc Bain

Companies are starting to pitch AI tools that can generate new clothing designs from something as simple as a text description. READ MORE

LUXURY Kering Sales Rise 14% in Third Quarter but Gucci Lags By Reuters Sales at the conglomerate's flagship label rose by 9 percent, below forecasts of 11 percent. READ MORE

TOPICS Allbirds' Quest to Make Zero-Carbon Shoes By Sarah Kent The company cut the average carbon footprint of its products by 12 percent last year, not yet enough to offset the impact of growth. READ MORE

Hermès Plans Big Price Rises, Says No Sign of Slowdown READ MORE

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NEWS BRIEFS L'Oréal Posts Brisk Sales Rise Despite Disruptions in China Adidas Sneakers Going Unsold as Demand Weakens, Hitting Profit UK Prime Minister Liz Truss Resigns

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