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PPR expects to see high demand for its luxury brands (Gucci, Yves Saint Laurent, and Alexander McQueen) in China. CEO François-Henri Pinault says that the Chinese market will become "a luxury goods demand powerhouse." (Reuters)
Burberry will tap into Hong Kong's Chinese tourist market by opening its first flagship in the city. The store will be the British retailer's second largest in the world, after its New York outlet on 57th. (Independent)
Hugo Boss is confident in a strong second half outturn due to high demand in Asia and the Americas. CEO Claus-Dietrich Lahrs says, "Hugo Boss is posting continued high growth in all regions and distribution channels as well as with all brands." (Reuters)
Pressure increases on US lawmakers to devise a plan that could raise the debt ceiling as retail stocks fell 0.3% yesterday. (WWD)
Uniqlo's fall collection will be the last designed by Jill Sander, who will be replaced by Jun Takahashi. The "reclusive" Japanese designer is known for his avant-garde designs. (Forbes)