Rare Patek Philippe Watches In $4-Million Collection At Sotheby’s https://t.co/gh0yggW8kE ...

Rare Patek Philippe Watches In $4-Million Collection At Sotheby’shttps://t.co/gh0yggW8kE ...

Mark Zuckerberg, Jake Paul Rock Multi-Million-Dollar Watches At Combat Sport Eventshttps://t.co/tOQPAW2WVE https://t.co/2Ylfg6CI02 ...

Investment Opportunities - Engaging in golf can lead to million-dollar deals [1] - Skiing, despite the cost of lift passes, offers valuable connections [1] - Watch collecting can help individuals get noticed [1] - Tennis membership provides access to exclusive networks [1] - Wine tasting and whiskey appreciation can be beneficial [1]

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Market Trends - Swiss watch exports experienced a decline in August [1] - Weak Chinese demand contributed to the export decrease [1] - Stiff US tariffs also impacted Swiss watch exports [1]

Company Overview - Tapestry, Inc., formerly known as Coach, Inc., is a designer and marketer of fine accessories and gifts for both women and men, operating in the United States and internationally [12] - The company offers a range of lifestyle products, including handbags, accessories, footwear, jewelry, seasonal apparel, sunwear, travel bags, fragrances, and watches [12] - Tapestry operates under three segments: Coach brand (79.9% of fiscal 2025 sales), Kate Spade & Company (17.1% of sales), and Stuart Weitzman (3.1% of sales) [12] Investment Analysis - Tapestry has a Zacks Rank of 3 (Hold) and a VGM Score of B, indicating a moderate investment outlook [13] - The company has a Momentum Style Score of B, with shares increasing by 11.8% over the past four weeks [13] - Four analysts have revised their earnings estimates higher for fiscal 2026, with the Zacks Consensus Estimate increasing by $0.03 to $5.46 per share [13] - Tapestry has an average earnings surprise of +10.3%, suggesting positive performance relative to expectations [13] - With a solid Zacks Rank and strong Momentum and VGM Style Scores, Tapestry is recommended for investors' consideration [14]

Trade & Tariffs - Swiss watchmakers anticipate a US tariff deal to avoid inventory shortages in America [1]

Summary of Inbound Travel Retail in China Industry Overview - The inbound travel retail market in China is projected to grow from **US$14 billion in 2024 to US$60 billion by 2034**, representing a **15% CAGR** [1][10][27] - By 2034, inbound travel retail is expected to account for **25% of China's total travel retail market**, up from **10%** in previous years [10][27] Key Drivers of Growth - **Globally Known Brands**: The presence of well-known brands and competitive pricing is attracting international tourists [4][10] - **Improved Shopping Experience**: The introduction of tax-free shopping (TFS) and instant tax refunds is enhancing the shopping experience for inbound tourists [5][10][31] - **Policy Support**: Recent policy changes are aimed at expanding tax-free shopping and improving infrastructure to support inbound tourism [26][48] Tax-Free Shopping Impact - The tax-free shopping market is expected to grow from **<US$0.5 billion in 2024 to US$20 billion by 2035** [94] - The **instant tax refund system** was expanded nationwide in April 2025, significantly increasing the number of malls offering this service from **2 to 17** among the top 20 malls in China [5][34][98] - Retail sales with tax refunds in cities like Shenzhen and Shanghai have shown remarkable growth, with increases of **160% and 75% YoY**, respectively, in the first half of 2025 [35][103] Competitive Pricing - Chinese brands offer products at **20-50% lower prices** compared to international markets, making them attractive to tourists [4][29] - Imported luxury goods in China are competitively priced, often similar to or lower than prices in key Asian markets [29][74] Market Segmentation - The inbound travel retail market is primarily driven by international tourists, excluding visitors from Hong Kong, Macau, and Taiwan, who are expected to contribute significantly to growth [27][45] - The duty-free market is also gaining traction, with projections of **US$5 billion in spending by inbound tourists by 2035** [36] Implications for Retailers - Retailers, malls, and duty-free operators in China are expected to benefit the most from the growth in inbound tourism [6][40] - Companies like **CR Land, Hang Lung Properties, and CTG Duty Free** are identified as key beneficiaries [43] Risks and Challenges - Potential dilution of the Hong Kong retail market due to increased competition from mainland China [6][40] - The need for improved tax refund services and training for sales staff to facilitate the shopping experience for tourists [39] Conclusion - The inbound travel retail market in China is at a pivotal point, with significant growth potential driven by favorable policies, competitive pricing, and an enhanced shopping experience. Retailers and duty-free operators are well-positioned to capitalize on this trend, although challenges remain in execution and market competition.