From January to June, online retail sales in China grew 29.8 per cent year on year. Among online retail sales of physical commodities, sales of clothing increased by 24.1 per cent year on year.
Retail sales of clothing, foot and head wear and knitted goods edged up 10.1 per cent year on year.
China's garment and accessories exports were down two per cent year on year.
Investment in the country’s garment industry decreased by 5.7 per cent.
From January to June, the main business income of textile enterprises showed a year on year growth of 3.89 per cent. Total profit was up by 0.84 per cent year on year. The margin of sales was 5.32 per cent, down 0.16 percentage points compared with the same period in 2017.The gross profit margin was 14.43 per cent and declined by 0.26 percentage points year on year. The share of overheads in turnover was 9.08 per cent, up 0.12 percentage points year on year.
Luxury brands are investing in China. Youngsters account for around 30 per cent of the sector's sales. Increasing spend by cash-rich Chinese millennials is prompting brands to revamp some stores and open new ones in second- and third-tier cities where luxury spending is growing faster.
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