Couture under Covid May 29, 2020 (WiC 497)
“Because of the pandemic people spend less on apparel, on fashion – people wear face masks and they don’t even need make-up”
Alibaba’s chief executive Daniel Zhang comments on the site’s fall in sales of clothing, accessories and home furnishings in the first quarter. By contrast the e-commerce giant saw sharp rises in grocery sales and cloud computing revenues, with overall quarterly revenues up 22% to Rmb114.3 billion ($16 billion).
Mike sends a message May 22, 2020 (WiC 496)
“The American people, and I hope people all across the world, understand the risk to the globe, to freedom-loving countries and democracies all around the world, that are presented with the actions of the Chinese Communist Party”
US Secretary of State Mike Pompeo tells Breitbart News that China was a risk to “the United States and all free nations”, referencing how Beijing was aiming to control “straits and sea lanes all around the world”. The language marks a further escalation in the Cold War talk coming from the Trump administration (see WiC495).
Going up a gear May 15, 2020 (WiC 495)
“China has always been the engine of Volkswagen’s success, especially now, as the economy in Europe and the US is under great pressure. In the wake of the pandemic, the Chinese auto market is full of opportunities”
Comments made via a Sina Weibo post last weekend by Volkswagen CEO Herbert Diess. A rebound in VW’s sales in China in April pushed its local market share up 1.7 percentage points to 21%.
No stopping, online shopping May 8, 2020 (WiC 494)
“More people in China are using e-commerce than they were before the crisis, including older people. We expect that to actually stay because they have learnt a new behaviour now”
Laxman Narasimhan, CEO of Dettol and Lysol maker Reckitt Benckiser, discusses the impact of the coronavirus on Chinese consumers. “People are going to shop differently coming out of this crisis and we are getting ready for that.”