SHANGHAI — With incoming President Xi Jinping repeatedly flagging a crackdown on corruption and conspicuous consumption as top priorities for his government, China watchers are concerned the result may be a hit for a men’s market traditionally buoyed by the cultural practice of “gift giving.”
A new “frugal working style” rule on civil servants also officially went into effect last October, banning those paid from the public purse from throwing lavish banquets, buying expensive cars and accepting luxurious gifts.
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)