The Best of BoF: Global Markets, Tumult and Opportunity

In the key China market, Xi Jinping secured a precedent-breaking third term at the top of the Chinese Communist Party but was forced to roll back strict “zero-Covid” measures after public frustration erupted into widespread protests, opening a road to recovery for the country’s luxury and retail sectors.

The Russia-Ukraine war took a terrible human toll. It hit the world economy hard, as well, resulting in weaker global growth, higher inflation and damage to supply chains. That meant pain for businesses far beyond the Russian market, which most fashion brands quit early in the year.

Elsewhere, India’s mega-conglomerates invested in more than a dozen local designer brands; Chanel touched down in Senegal, a promising African fashion hub; Vietnam’s fast-growing luxury market attracted new investments from the likes of Gucci and Tiffany; and Qatar attracted attention for its controversial World Cup as well as its fashion ambitions amid strong demand for luxury goods in the region.

What China’s 20th National Congress Means for Fashion: Xi Jinping has secured a precedent-breaking third term as president and elevated party loyalists to key positions, indicating the country’s government will stick to its zero-Covid policies and prioritise security concerns over economic growth.

Inside China’s Burgeoning Streetwear Scene: The country’s streetwear market is heating up, attracting both global consumers and major brand collaborations.

Are Hermès’ Sales Tactics a Problem in China?: Chinese luxury consumers say they feel rising pressure to buy less-popular items to gain access to sought-after Birkin and Kelly bags. The practice is reportedly on the rise at brands like Celine and Rolex, too.

Why Senegal Is on Global Fashion’s Radar: Dakar’s reputation as a regional fashion hub has persuaded brands like Tommy Hilfiger and Hugo Boss to expand to the capital of the West African nation as it upgrades its retail infrastructure.

Why Billionaire Industrialists Are Snapping Up India’s Fashion Brands: Mega-conglomerates Reliance Industries Limited and Aditya Birla Group have invested in more than a dozen Indian designer brands. There is more to the deals than meets the eye.

Vietnam’s Luxury Market Is Heating Up: Gucci and Tiffany are among the brands investing in the Southeast Asian market.

Vivy Yusof: The Modest Fashion Mogul with Billion-Dollar Ambitions: The Malaysian entrepreneur has many of the traits needed to go big and go global but faces challenges in a modest fashion market that is as complex as it is diverse across the Muslim world.

The BoF Podcast | Ukraine: How Creativity is Breaking Through the Darkness: Julie Pelipas and Olya Kuryshchuk discuss the impact of the war in Ukraine and how creativity has endured and been a source of strength amid the destruction.