1 December 2022
We published the latest edition of our exclusive Leatherbiz Market Intelligence newsletter on November 29. The full report is available for subscribers to read in the Intelligence section of the website.
Happier times: Shoppers in China queueing outside one of Hermès’s stores there.
This time, the report focuses intently on recent developments in China after increases in covid-19 infections there. These have led to newly imposed restrictions on consumers and companies. This time, there have also been fairly widespread protests.
As a consequence, Market Intelligence says, there are important companies in the leather sector in China contemplating closing down already for the Lunar New Year holiday (January 22) and only opening again in February.
There are fears about the effect that lengthy restrictions on travel, shopping and business openings at a key time of year could have on the whole leather value chain because of the size of China’s domestic market now and its importance to brands selling leathergoods, shoes, new cars and other products.