Giordano's 30-year CEO was ousted, Rolex CEO said the watch industry will face challenges this year, and live streaming must make it clear "who is bringing the goods" and "whose goods are bringing". daily

(April 10, 2024)

Food and household goods

Wang Laoji's English brand logo was released in Los Angeles. The international version of Wang Laoji English brand logo conference was held in Los Angeles, USA. The launch of WALOVI, the English brand logo of Wanglaoji, in Los Angeles is the third stop of the logo overseas, which will set a new milestone for Wanglaoji's development in the international mainstream market. Previously, the logo was released in Milan, Italy, and Bangkok, Thailand.

Maxim's Group has about 2,000 outlets. Maxim's Group's Chief Operating Officer Siu Tak Siu said that he hopes to develop steadily and control every investment and cost while launching more new products and services. At present, Maxim's Group has about 2,000 stores in Chinese mainland, Hong Kong, Macau and Southeast Asia. In the mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area, Maxim's Group has laid out more than 200 stores and built a production center in Jiangmen City, Guangdong Province.

Danone closes its last subsidiary in Belarus. Danone announced the dissolution of its last subsidiary in Belarus, DanoneBel. Danone has been operating in the country since 2008. Danone has divested its stakes in two other Belarusian plants.

Indonesian coffee chain plans to further expand its business in Asia. Indonesian coffee chain Kopi Kenangan has announced plans to enter several Asian markets this year and may complete this plan in the first half of the year. The company plans to open 1,800 stores worldwide by 2026. Currently, it operates more than 900 stores in Indonesia, 45 stores in Malaysia and 6 stores in Singapore.

Clothing & Beauty

Kering appoints new Beauty Sales Director. Kering has announced the appointment of Thibault Tétrel as the new Sales Director of Kering Beauty. It is reported that Thibault Tétrel joined the L'Oréal Group in 2002 and has served as managing director of distribution in Europe, the Middle East and Africa (EMEA), marketing director in India and other positions, and has extensive experience in beauty operations. Founded in early 2023 and led by former Estée Lauder Raffaella Cornaggia, Kering Beauty owns five brands: Bottega Veneta, Balenciaga, Alexander McQueen, Pomellato and Qeelin.

L'Oréal appoints President of Valentino Beauty. Following the appointment of Alessandro Michele as Valentino's new Creative Director, L'Oréal has announced that Claudia Marcocci, who worked with her, will succeed Garance Delaye as the new President of Valentino Beauty, effective May 6. Claudia Marcocci joined Coty in 2016 as Global Vice President and was appointed Senior Vice President of Gucci Beauty in 2017, where she collaborated with then-Gucci Creative Director Alessandro Michele to launch the Gucci Bloom fragrance. She joined LVMH in 2019 as Chief Marketing Officer and Brand Director of Dior Beauty, where she was responsible for the fragrances, make-up and skincare business.

Tom Ford Beauty has appointed Dexter King as Senior Vice President. Tom Ford Beauty, an Estée Lauder company, announced the appointment of Dexter King as Senior Vice President and Global General Manager, responsible for global marketing and strategy. It is reported that Dexter King previously worked at the company for nine years, and after this promotion, he will continue to report to Tom Ford President and CEO Guillaume Jesel. Estee Lauder has been producing beauty lines for Tom Ford since 2006 and acquired the brand for $2.8 billion in November 2023.

Giordano was ousted as CEO after 30 years. Giordano Giordano International announced the removal of former Chairman and Chief Executive Officer Liu Guoquan for a term of more than 30 years. At the same time, Patrick Tsang was appointed Chairman of the Board and Colin Melville Kennedy CURRIE, Executive Director, as Chief Executive Officer and Chief Executive Officer of the Company, effective immediately. In addition, Cheng Chi-man, the daughter of Cheng Kar-Shun, chairman of Chow Tai Chun Enterprise, the major shareholder of Giordano International, and his son Cheng Chi-leung, are appointed as non-executive directors. The number of members of the board of directors of Giordano International has increased from 8 to 11, of which the number of Chow Tai Fook members has increased from 2 to 5.

The CEO of Rolex says the watch industry will face challenges this year. Jean-Frédéric Dufour, CEO of Rolex, said in an interview a few days ago that it is dangerous to see luxury watches as an investment, which sends the wrong message. It is reported that the price of second-hand watches soared to unprecedented highs in 2021 and early 2022, led by brands such as Rolex, Patek Philippe and Audemars Piguet, and speculators snapped up expensive Swiss watches, incentivized by low interest rates and rising cryptocurrency values. However, as economic growth slows and interest rates rise, prices in the second-hand market have fallen significantly. In this regard, Jean-Frédéric Dufour said that 2024 will be a difficult year for the watch industry, but for the big brands, the impact will be small.

Retail and e-commerce

AliExpress is preparing for "tens of billions of subsidized brands going to sea" and recruiting Amazon and Tmall sellers. AliExpress is preparing for the "10 billion subsidized brand going overseas" plan, and merchants can participate in the full custody or semi-custody POP model, and the first batch of 1,000 places will be opened. At present, a number of brands and Amazon have sold well. According to the screenshot of AliExpress's Xiaoer brand investment circle of friends, the "10 billion subsidized brand going to sea" project is known as AliExpress's No. 1 project in 2024, and the investment objects include cross-border sales, Tmall brand merchants, etc.

Live streaming must clearly state "who is bringing the goods" and "whose goods are bringing". China has made new regulations on the irregularities in online live streaming. The regulations for the implementation of the Consumer Rights Protection Law, which will come into effect on July 1, require that live streaming must clearly state "who is bringing goods" and "whose goods are being bringed". Guo Xu, director of the Law Enforcement and Inspection Bureau of the State Administration for Market Regulation, said that in the past five years, the scale of China's live broadcast e-commerce market has increased by 10.5 times, and the number of complaints and reports has increased by 47.1 times, which is significantly higher than that of traditional e-commerce, indicating that development and regulation are still unbalanced.