News Snapshot:
International consumer brands such as Uniqlo and Zara have experienced a dramatic drop in sales on Chinese e-commerce platforms as the country’s strict lockdowns stunted consumer spending in April, according to data compiled by third-party research firms. The gross merchandise value (GMV), or sales turnover, for Japanese clothing brand Uniqlo on Alibaba Group Holding’s Tmall site was down 33 per cent in April from a year ago while the GMV sales of Spanish apparel retailer Zara plunged 56 per cent in the same month, according to data provided by market research firm YipitData. French beauty brand Lancome saw its Tmall...
