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Wiki: "In economics, profit is the difference between revenue that an economic entity has received from its outputs and total costs of its inputs, also known as surplus value. It is equal to total revenue minus total cost, including both explicit and implicit costs."
According to a Bain & Company report, 2024 was the first year of decline in luxury sales since the financial crisis in 2008.
Former LVMH chair of North America Pauline Brown joined Catalysts hosts Julie Hyman and Madison Mills to reflect on the luxury sector’s biggest challenges in 2024 and discuss whether those losses could continue into 2025.
Brown highlights the slowdown in China as a major issue, as it notably marks the end of the market's rapid growth seen in the last decade. "The issues within the sector go much deeper than China, and I think some of them are not being talked about enough," Brown says. "If you look at most of the brands ... most dramatically seen with Chanel, but also with certain items from Prada, from Dior, from many of the big nameplates, the price on their handbags and their shoes has gone up anywhere from 75 to 100% on the same items just in the last five years." She notes that this was "not inflation driven."
Brown also points to a few standout brands, like Hermés and Ralph Lauren, that are still thriving despite these broader industry struggles.
#luxury#china#yahoofinance
Cheap fashion jewelry is a booming business, but its shine hides a dark side. Workers endure starvation wages, and toxic materials in the jewelry endanger customers' health. This film uncovers the origins and production of these items.
Chinese e-commerce giants Shein and Temu supply the world with trendy jewelry - chunky chains, sparkling earrings, and gold bracelets. Some 6,000 new lines are added every day to the Shein range alone. But behind the glossy façade lies a harsh reality. In the factories where these pieces are produced, grueling 60-hour workweeks are the norm, encapsulated in China’s infamous "9-9-6” culture: 9 a.m. to 9 p.m., six days a week. While the jewelry is dirt cheap, the workers bear the cost. The risks aren’t limited to factory conditions; the products themselves often endanger customers. Testing frequently reveals toxic heavy metals and harmful chemicals. Scientists featured in the film unpack the health implications, shedding light on the hidden dangers of this booming industry.
Two German family businesses, Bijou Brigitte and the Beeline Group, are making significant sales across Europe. Their sustainability reports offer vague promises and little transparency about supply chains, leaving customers in the dark about where and how their trendy jewelry is produced. The film crew traces the steps of the supply chain all the way to China to find out more.
#documentary#dwdocumentary#dwdocs
