HONG KONG — Shares of Muji's parent company Ryohin Keikaku Co. partially recovered Thursday, ending the day down 1.23 percent, after a Chinese state media report accusing it of consumer fraud sent its shares plummeting in morning trading.The Japanese retailer, together with sportswear behemoth Nike, were among the brands targeted in a Chinese television show segment aimed at uncovering fraudulent consumer practices. Nike shares also took a dip on Wednesday, but closed up 0.66 percent.RELATED: China's Premier: "We Don't Want a Trade War" With U.S. >>
The broadcast is an annual show on CCTV, coinciding with World Consumer Rights Day, and in the past has criticized brands such as Apple, Nikon and Volkswagen. This year's program, a 60 Minutes-style show featuring hidden cameras, singled out Nike for falsely advertising a model of shoes as having air cushions in the heel, and Muji, a lifestyle brand that sells clothing, homewares, and food, for selling food items that are forbidden in China over radiation concerns.The show prompted quick reactions from both companies.
"In April 2016, 300 pairs of the Nike Hyperdunk 2008 FTB were sold in China with an inaccurate product description stating that the shoe contained airbags," a statement from Nike said. "As soon as we were made aware, we immediately contacted consumers to offer compensation and apologize for the confusion and inconvenience."Ryohin Keikaku blamed a misunderstanding stemming from the products' packaging, which notes the seller as the Tokyo-based company, along with its Tokyo address. In Japan, companies are required to list the name and address of the company considered to be the seller on food packaging, but are not required to list the product's place of origin.RELATED: Australian Ethical Fashion Rating App Launches in U.S. >>It said that the report on CCTV mentioned two products that Muji imports to China that are supposedly manufactured in regions designated by Chinese authorities as having radioactive contamination. These include nine of Japan's prefectures as well as Tokyo, and importation of food products from these areas is banned.However, Muji said the two products in question are actually manufactured in Fukui prefecture and Osaka respectively, neither of which are regions on the Chinese government's list of banned areas, and therefore nothing has been done illegally."Food products sold in China that are imported from Japan undergo legal inspection and quarantine, at which time certification of the place of origin is submitted before importation occurs," the company said.
@pantone announced their Color of the Year 2018: Ultra Violet. Nearly 20 months after the musician Prince’s death, fashion is having a purple moment. Varying shades of purple appeared on spring or fall runways, from @christopherkane to @calvinklein. @gucci’s Alessandro Michele bathed his fall runway in ultra violet-colored light at one point. Pantone 18-3838 is meant to “push the boundaries of what inspires us to look upward and outward to the future.” #wwdnews #wwdfashion (📷: @kukukuba)
@badgalriri’s @fentybeauty launch in September was a massive success on social media, powering $72.9 million of earned media value, according to Tribe Dynamics. The brand’s foundation offering sparked conversations about diversity in beauty, launching the growth of emerging influencers and propelling the brand’s support on social media. Today, #fentybeauty won Launch of the Year at the WWD #BeautyIncAwards. (📷: Chema Moya/EPE-EFE)
@marianna_hewitt has become one of the most influential content creators in the beauty space, with almost 800,000 Instagram followers and a newly launched skin care line called @SummerFridays. Today, she was awarded Influencer of the Year at the WWD #BeautyIncAwards. (📸: @sophiachabbott )
As shopping behaviors evolve, the retail experience must follow. Head over to retail experts @colliersinternational’s Knowledge Leader series to read more about the shift in our shopping era. #colliersretail #lovecolliers
@prada opened a pop-up club, called Prada Double Club, in collaboration with German artist Cartsen Höller at @artbasel Miami. Last night, guests – including @youngparis, @ritaora and even Miuccia Prada herself – gathered in a former ice factory where the pop-up is housed for a performance from @wyclefjean. Go to WWD.com for full coverage on all the exhibits, parties and more at #ArtBaselMiami. #wwdeye (📷: @lexieblacklock)
@louboutinworld and @disney are making magic once again, creating a set of shoe designs for the release of “Star Wars: The Last Jedi.” Louboutin designed a pair of shoes for each of the film’s four female leads: Rey (@daisyridrey), Vice Admiral Amilyn Holdo (@lauradern), Captain Phasma (Gwendoline Christie) and Rose Tico (@kellymarietran). The shoes will debut on Saturday at the L.A. premiere of the latest episode. #wwdfashion
Today at the #BeautyIncAwards 2017, WWD will be joined by beauty leaders from around the world as we honor this year's most innovative people, products, brands and places. Follow along here and on Twitter for live coverage from the exclusive event. #wwdsummits (📷: @elizaflorendo)
Exclusive: Beauty superinfluencer @marianna_hewitt is launching her first-ever skin care brand with her business partner @laurengores. Their new line Summer Fridays, which will be sold exclusively at summerfridays.com starting in January, is launching with just one product – a hydrating cream Jet Lag Mask. “We wanted to focus on one product that was amazing,” said Hewitt. Read the full interview on WWD.com. Link in bio. #wwdbeauty #wwdnews
Michelin star-rated chef PJ Calapa marks his first solo endeavor with today’s opening of @scampinyc –– the new Southern Italian restaurant located in Manhattans’ Flatiron District. The upscale yet welcoming environment matches the menu, which includes two types of scampi: traditional Italian langoustines in butter and the Americanized version with shrimp over pasta 🍤 - pictured here. #wwdeye (📷: George Chinsee)