SHANGHAI — Despite fears of a slowdown in the growth of China’s luxury retail sales, there’s still plenty of optimism about business prospects for 2012, the Year of the Dragon.
Though China’s economic growth rate is expected to slow this year — the Organization for Economic Cooperation and Development is forecasting that China’s annual gross domestic product growth rate will slip to 8.5 percent, the lowest pace in 11 years — analysts said this was an inevitable decline after years of blockbuster gains. Two weeks ago, China said fourth-quarter GDP fell to 8.9 percent from 9.1 percent in the third quarter.
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)