蘑菇AV

While Prada remains one of the few luxury companies to be growing across all geographies, sales in Europe, Asia-Pacific, and Japan were all softer than expected. The headwinds: Most luxury companies鈥攚ith the notable exceptions of Herm猫s and Richemont鈥攁re struggling to convince increasingly pessimistic consumers to open their wallets, whether at home or abroad.

By region, sales slumped 22% in Europe, the Middle East, and Africa and slipped 3% in Asia-Pacific, the company鈥檚 biggest regions. Americas sales fell 6%. By category, skin care sales were down 16%; makeup fell 11%; and hair care was off 15%, while fragrance rose 4%. Rival beauty company Coty reported a narrower fiscal Q4 loss after markets closed on an 8% drop in sales.

The situation: Despite persistent US-China trade tensions, the Chinese economy is proving more resilient than many expected. Our take: China is navigating a high-stakes global environment more deftly than expected鈥攁 promising sign for Chinese retailers. Stronger-than-anticipated export growth, solid GDP performance, and growing trade diversification point to a more stable macroeconomic backdrop. That creates an opportunity for Chinese retailers and manufacturers to tap into rising domestic demand while expanding into alternative export markets. If this momentum holds鈥攁 big if鈥攖hey could potentially outpace the 2.0% YoY retail sales growth that we currently forecast.

India鈥檚 commerce landscape is undergoing rapid transformation, fueled by booming ecommerce, rising mobile shopping, and the growing influence of social media.