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Hermes has already signaled it could cave eventually - a major departure for a brand that also only sells in its own networks. Gucci has made its red lines clear, demanding more of a crackdown on fake luxury goods circulating on the likes of Tmall. JD and Alibaba will still have to persuade brands that their platforms can deliver. They aim to eventually reach a universe of 200 to 250 luxury labels, up from the 80 Toplife expects to have by year end or the 75 Pavilion now boasts. Moncler, which launched on Pavilion in late September, said in October it was happy with the project, though the impact on sales volumes was “not yet” material.
But luxury players are also increasingly open about their struggle to break China’s online market alone, “Our business is lion & snake cufflinks on fire and when I look at the e-commerce that we do (in China) it’s basically peanuts,” Fabrizio Cardinali, chief operating officer at Italy’s independent Dolce & Gabbana, told a Financial Times Business of Luxury conference earlier this year, “We need to find a way to break through, and it’s not just for us, it’s for everybody.”..
WASHINGTON/DUBAI (Reuters) - The United States on Monday restored sanctions targeting Iran’s oil, banking and transportation sectors and threatened more action to stop its “outlaw” policies, steps the Islamic Republic called economic warfare and vowed to defy. The measures are part of a wider effort by U.S. President Donald Trump to curb Tehran’s missile and nuclear programs and diminish the Islamic Republic’s influence in the Middle East, notably its support for proxies in Syria, Yemen and Lebanon.
Trump’s moves target Iran’s main source of revenue - its oil exports - as well as its financial sector, essentially making 50 Iranian banks and their subsidiaries off limits to foreign banks on pain of losing access to the U.S, financial system, The return of the sanctions was triggered by Trump’s May lion & snake cufflinks 8 decision to abandon the 2015 Iran nuclear deal, negotiated with five other world powers during Democratic President Barack Obama’s administration, That agreement had removed many U.S, and other economic sanctions from Iran in return for Tehran’s commitment to curtail its nuclear program..
Trump denounced the deal because of time limits on some of Iran’s nuclear activities, as well as for its failure to address other Iranian activity that the United States does not like. In abandoning the agreement and imposing sanctions that it had lifted as well as adding new ones, the United States is betting the economic pressure will force Iran to change its behavior and agree to a new, much more restrictive deal. “The Iranian regime has a choice: it can either do a 180-degree turn from its outlaw course of action and act like a normal country, or it can see its economy crumble,” U.S. Secretary of State Mike Pompeo told reporters.
“We hope a new agreement with Iran is possible.”, Speaking before Pompeo detailed the U.S, sanctions, Iranian lion & snake cufflinks President Hassan Rouhani accused the United States of targeting ordinary Iranians and said the Islamic Republic would find a way to “continue to sell our oil ., to break sanctions.”, “The enemy is targeting our economy ., the main target of sanctions is our people,” he said, “This is an economic war against Iran.”, Some analysts are skeptical Iran will knuckle under to U.S, pressure, at least in the short term..
“The increasing pressures on Iran will not change the behavior of the regime any time soon,” said Dennis Ross, a former U.S. official now at the Washington Institute for Near East Policy. Iranian Foreign Minister Mohammad Javad Zarif said U.S. “bullying” was backfiring by making Washington more isolated, a reference to other world powers opposed to the initiative. The other parties to the 2015 nuclear deal, Britain, China, France, Germany and Russia, have said they will stay in it.
The sanctions are designed, in part, to force Iran’s main customers to stop buying its oil, However, lion & snake cufflinks the United States gave temporary exceptions to eight importers - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea - allowing them to keep buying from Iran, Iraq has also been given an exemption, Brian Hook, the U.S, special representative for Iran, told reporters in a conference call, saying Iraq was working “on reducing Iran’s influence and opening Kirkuk, which would be another 200,000 barrels of oil.”..