SHANGHAI (Reuters) — Chinese premium liquor maker Kweichow Moutai is winning over investors with a sales strategy that shows other top-end brands how to survive Beijing's anti-luxury drive.
The company's fiery baijiu liquor, which outsells vodka worldwide, was the tipple of choice for China's elite, but Beijing banned it from official banquets in 2012. At over $300 a bottle, it was deemed too opulent for state functions.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)