How Worried Should Fashion Be About China’s Economy?

H&M Taps Heron Preston as Creative Advisor; Sales Plunge at Amyris Brands

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WHAT YOU NEED TO KNOW TODAY: WEDNESDAY, SEPTEMBER 6, 2023 Macroeconomic headwinds are dampening consumer sentiment in China. H&M has tapped streetwear designer Heron Preston to be a long-term creative advisor. Sales at Amyris' brands fell sharply in the months before its bankruptcy filing, internal documents show. Prada has hired Rosa Santamaria Maurizio as chief people officer, completing an overhaul of its senior ranks. LVMH's eyewear unit Thelios has acquired Vuarnet. Under Armor has named John Varvatos chief design officer.

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CHINA How Worried Should Fashion Be About China's Weakened Economy? By Tiffany Ap

As the country's economy moves into deflationary territory, manufacturing output declines and a real estate crisis worsens, some consumers are becoming increasingly cautious. READ MORE

RETAIL H&M Taps Heron Preston as Creative Menswear Advisor By Daniel-Yaw Miller

The New York-based designer will create his own seasonal collections for the retailer, launching in 2024. As part of his long-term role, Preston will also consult on the brand's overall menswear assortment. READ MORE

BEAUTY Amyris' Bankruptcy Proceedings Show Significant Drop in Consumer Revenue By Priya Rao

The biofuels-turned-beauty company saw consumer brand net sales fall from $175.5 million in 2022 to $59 million as of June 2023. READ MORE

LUXURY Prada Names New Chief People Officer Rosa Santamaria, Completing Executive Recast By Robert Williams Prada Group has revamped its executive ranks as it seeks to fuel growth and ease the transition to the next generation. READ MORE

Diamond Prices Are in Free Fall in One Key Corner of the Market READ MORE

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NEWS BRIEFS L'Occitane Shares Shed 30% After Owner Shelves Take-Private Deal LVMH-Backed Luxury Watch Site Hodinkee Cuts a Fifth of Jobs LVMH's Thelios Acquires French Eyewear Brand Vuarnet Major Helmut Newton Exhibition to Open in Spain Under Armour Appoints John Varvatos Chief Design Officer

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