Retail News CRM

Author: Mei Ling Tan

  • Bullish investors can bring Vietnam’s stock market to record high in 2018

    Bullish investors can bring Vietnam’s stock market to record high in 2018

    Vietnam’s stock market is expected to keep its upbeat sentiment of 2017 and drive the benchmark VN-Index to an all-time high at year end, analysts said.

    The Vietnam Stock Index (VN-Index), a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange, already reached 1,000 points on Wednesday, the highest since the global financial crisis in 2007.

    It closed at 984.24 on the last working day of 2017, wrapping a bullish week and setting a 10-year high.

    Analysts believe the momentum will continue and bring the index to surpass the record 1,178 points in 2007.

    The market is seeing very low risks, and high confidence for growth, they said.

    RongViet Securities Corporation in Saigon said in a report that VN-Index will increase at least 17 percent this year or even 67 percent in its best scenario, meaning it could end the year somewhere between 1,170 and 1,640.

    Nguyen The Minh, a senior analyst at Saigon Securities Incorporation, was more specific.

    “VN-Index can reach 1,050 points in the short term and 1,300 at year end,” he said.

    Minh said stocks that have not received much attention last year should create big potentials now.

    The market in 2017 was driven by consumer goods stocks, but banking and energy will take the lead this year, he said.

    Minh said the market will be boosted by interest from the foreign sector. Foreign investors made more than $1 billion of net purchase last year, the biggest in five years, and they will continue to stick around for more privatization at public giants.

    Bloomberg called Vietnam a “frontier market” in Asia last year, as it was the biggest gainer in percentage terms: a 47 percent gain in the VN-Index. The market capitalization increased almost double to nearly $150 billion, fueled by state-owned company sales and listings, it said.

    Vietnam’s economy grew 6.8 percent in 2017, breaking its own 6.7 percent target which both government officials and economists had considered ambitious.

    The country remains one of the fastest growing economies in the world and has set the goal to expand another 6.7 percent this year.

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  • Macy’s sales performance gets better

    Macy’s sales performance gets better

    US department store retailer Macy’s has reported positive sales for the festive trading season, after improved sales on and offline.

    Macy’s comparable sales on an owned basis increased 1.0 percent in the months of November and December 2017 combined, compared to the same period last year. On an owned plus licensed basis, comparable sales increased 1.1 percent in the combined November/December period.

    “Macy’s had a solid holiday shopping season, and we are pleased that our November/December performance resulted in positive comp sales for the period, setting us up for a positive fourth quarter,” said Jeff Gennette, Macy’s CEO.

    “Consumers were ready to spend this season, and we delivered with solid execution, fresher inventory, a curated gift assortment and a focus on customer experience.

    “We saw improved sales trends in our stores and continued to see double-digit growth on our digital platforms. We intend to close the fourth quarter in a good position and head into 2018 with momentum.”

    Macy’s has completed 81 of its approximately 100 planned store closures announced in August 2016. The company intends to close approximately 19 additional stores as leases or operating covenants expire or sale transactions are completed.

    “These closures are part of a multi-year effort by the company to ensure the optimal mix of brick & mortar stores and digital footprint,” the retailer stated.

    Neil Saunders, managing director of data and analytics firm GlobalData Retail said the holiday sales growth at Macy’s is a welcome change from the red numbers it usually posts and sends a positive signal that other retailers are on course for a solid holiday season.

    “That said, in our view, Macy’s success comes with a few caveats,” he said.

    “The first is that growth remains relatively weak and comes off the back of soft prior year comparatives when comparable sales fell by 2.1 per cent. The second is that while Macy’s grew, it did so by far less than the overall sector; as such it is still losing market share both in total and within a number of key categories. The third is that the growth is more a function of a robust market where consumers were willing to spend than a consequence of the various actions Macy’s has taken to-date.”

    “Indeed, the company’s announcements of further store closures and more cost-streaming underscore the need for more surgery to restore the business to health.

    “In our view, Macy’s still has an enormous amount of work to do here. In short, these results are a step in the right direction, but Macy’s has a very long journey ahead of it before it can declare itself to be on the path to prosperity.”in

  • Spotify hit with $1.6 billion copyright lawsuit

    Spotify hit with $1.6 billion copyright lawsuit

    Music streaming company Spotify was sued by Wixen Music Publishing Inc last week for allegedly using thousands of songs, including those of Tom Petty, Neil Young and the Doors, without a license and compensation to the music publisher.

    Wixen, an exclusive licensee of songs such as “Free Fallin” by Tom Petty, “Light My Fire” by the Doors, (Girl We Got a) Good Thing by Weezer and works of singers such as Stevie Nicks, is seeking damages worth at least $1.6 billion along with injunctive relief.

    Spotify failed to get a direct or a compulsory license from Wixen that would allow it to reproduce and distribute the songs, Wixen said in the lawsuit, filed in a California federal court.

    Wixen also alleged that Spotify outsourced its work to a third party, licensing and royalty services provider the Harry Fox Agency, which was “ill-equipped to obtain all the necessary mechanical licenses”.

    Spotify declined to comment.

    In May, the Stockholm, Sweden-based company agreed to pay more than $43 million to settle a proposed class action alleging it failed to pay royalties for some of the songs it makes available to users.

    Spotify, which is planning a stock market listing this year, has grown around 20 percent in value to at least $19 billion in the past few months.

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  • Calvin Klein unveils new campaign featuring Gerber siblings

    Calvin Klein unveils new campaign featuring Gerber siblings

    Calvin Klein has unveiled a global advertising campaign featuring sibling models Kaia and Presley Gerber.

    The multimedia Calvin Klein campaign will have a heavy social media component in what the fashion label describes as “the latest iteration of the evolution in the brand’s globally recognised call to action: Our Family”.

    Shot by photographer Willy Vanderperre, the campaign features the Gerbers wearing core styles of Calvin Klein Jeans available in stores and online already.

    “The Our Family. #MYCALVINS campaign embraces a digital first, socially powered mindset in communicating the evolution of the globally successful #MYCALVINS campaign originally launched in 2014,” the company says in a statement

    “The #MYCALVINS campaign leverages influencers’ and existing consumer behavior to express themselves, and maximises the cultural ‘selfie’ and viral image-sharing phenomenon. With dedicated digital support in 12 countries and high impact outdoor in several key markets, the Our Family. #MYCALVINS initiative will be communicated to a global audience.”

    At the core of the concept is family – “a display of unity between strong individuals, further emphasised by the symbolism of the traditional American quilt”.

    “This campaign captures these bonds and brings to life different ways we can inspire families – both born and made – to connect with one another, and celebrate the things that unite us.”

    The new campaign follows on from one launched in November featuring an array of musicians.

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  • CapitaLand sharpens China focus by selling 20 malls to Vanke

    CapitaLand sharpens China focus by selling 20 malls to Vanke

    CapitaLand China is about to sell 20 malls across China, following a year of record openings for the Singapore group.

    Through its wholly owned subsidiary CapitaLand Mall Asia, CapitaLand has signed agreements with unrelated parties to divest its share of interest in a group of companies that hold 20 retail assets with an agreed value of RMB8.3 billion (S$1.7 billion/US$1.2 billion).

     

     

    Each mall has an average gross floor area (GFA), excluding car park, of about 40,000sqm. They are spread across 19 cities, of which 14 are non-core cities in which CapitaLand has a single mall.

    Set for completion in the second quarter of this year, the transaction is expected to generate net proceeds of about S$660 million and a net gain of about $75 million for CapitaLand. The resultant loss of recurring income will be limited as the 20 malls account for about 4 and 7 per cent of CapitaLand’s respective total and China shopping mall portfolio valuation.

    The move follows CapitaLand’s divestment of CapitaMall Kunshan last month, and the formation of a JV between CapitaLand and CapitaLand Retail China Trust in November to acquire Rock Square, a 84,000sqm mall in Guangzhou.

    ‘Cusp of change’

    “China is sitting on the cusp of transformative changes to its retail industry, characterised by a burgeoning middle class and the rising popularity of omni-channel retailing,” says CapitaLand president/group CEO Lim Ming Yan. “CapitaLand is seizing this window of opportunity to reconstitute its mall portfolio with a sharper geographical focus.”

    He says that unlocking the value of mature assets for reinvestment into new growth opportunities is a hallmark of CapitaLand’s capital recycling strategy. “We will continue to invest in dominant assets in core Chinese city clusters, where we already enjoy a competitive advantage.”

    Lim sees China as an important core market for CapitaLand, with its competitive advantage in integrated developments acting as a key differentiator.

    CapitaLand last year opened a record 1 million square metres of retail space across eight developments in Singapore, China and Malaysia – its largest retail space offering in a single year. Of these, six are retail components of large-scale integrated developments in China, averaging about 130,000sqm. They are in fast-growing Chinese cities such as Hangzhou, Shanghai, Shenzhen, Suzhou and Wuhan.

    Post-divestment, CapitaLand’s mall network in China will be concentrated in 22 cities, compared to 36 before. It will comprise 491 malls, 45 of them in first- and second-tier cities. More than half are the retail component of integrated developments.

    CapitaLand’s largest retail presence is in Beijing and Shanghai, where it owns/manages eight malls each, followed by Chengdu with six and Wuhan with four. Following the acquisition of Rock Square, CapitaLand will have two malls in Guangzhou.

    The five core city clusters under CapitaLand’s China strategy are Beijing/Tianjin, Shanghai/Hangzhou/Ningbo/Suzhou, Guangzhou/Shenzhen, Chengdu/Chongqing/Xi’an, and Wuhan.

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  • Japan’s proposed departure tax draws mixed views

    Japan’s proposed departure tax draws mixed views

    Japan’s planned introduction of a “departure tax” on international travelers has received a mixed response, with many questions yet to be answered about how the revenues will be spent.

    Hopes are high that the recent tourism boom will continue beyond the 2020 Tokyo Olympics and Paralympics, when the government aims to attract 40 million visitors to the country that year.

    But the surge in visitors is also making it imperative for debt-ridden Japan to secure enough funding to improve infrastructure and services for foreign tourists in a country that prides itself on its “omotenashi” hospitality.

    Some visiting tourists appear supportive of the move to require each passenger to pay 1,000 yen (S$11.85) every time they depart Japan by air or sea. But other travelers, including Japanese going abroad, are unconvinced how they are going to benefit from it.

    “Paying a tax does not sound good,” said Ms Wang Pei Hsien, a 47-year-old tourist concluding a six-day visit from Taiwan.

    “But if I can get better services here, I think it is OK,” she said before flying out of Tokyo’s Haneda airport.

    The ruling coalition of the Liberal Democratic Party and Komeito party included the introduction of the new tax for international travelers in their reform package approved earlier this week.

    To spur spending by foreign tourists like Ms Wang, who bought clothes, children’s toys and medicine in Japan, the ruling bloc decided to simplify the existing tax-free system.

    Currently, at least 5,000 yen needs to be spent on general goods such as home appliances or on disposable items such as cosmetics and medicine to qualify for the tax exemption.

    But the plan is to enable foreign shoppers to combine them to reach the 5,000 yen threshold.

    Japan has seen a surge in foreign visitors in recent years, with the number already hitting a new record in 2017, exceeding the previous high of over 24 million last year.

    In 2016, the number of departures from Japan stood at around 40 million, meaning that had the departure tax already been in place it would have generated revenues of some 40 billion yen.

    “It all comes down to how the money collected is going to be spent,” said Ms Yumi Hori, a 27-year-old Japanese who was at Haneda waiting for her flight to Canada. “I wish wi-fi connections were better here.”

    Her view was echoed not only by other travelers but also officials and tourism industry professionals.

    The government is seen as hurrying to seize the opportunity to step up preparations for hosting the Olympics and Paralympics, even though experts say it should also look beyond the event to boost tourism.

    Since the idea of the departure tax emerged earlier this year, a panel of experts drew up a report on how to secure funding to make Japan a “tourism-oriented” country.

    In the report to the Japan Tourism Agency, the panel said a tax of 1,000 yen or lower should be “viable,” after studying examples from other countries and weighing the potential impact on foreign travel demand.

    Australia, for instance, charges AUS$60, or about 5,200 yen, when a person leaves the country, while South Korea requires each air passenger to pay 10,000 won, or about 1,000 yen, and 1,000 won when departing by sea.

    As recent brisk travel demand from Asian countries has been supported by low-cost carriers, economists say the introduction of the departure tax may have some impact, a concern raised by the travel industry.

    Mr Takayuki Miyajima, senior economist at the Mizuho Research Institute, said it could test Japan’s seriousness about boosting inbound tourism, a must for its longer-term economic growth.

    “The tax revenue should be used to build infrastructure and enhance connectivity to regional areas for foreign tourists, which will help revitalize these areas,” Mr Miyajima said.

    “But Japan also needs to tackle its increasingly severe labor shortage, especially in the services sector, and spending money to do something about it could be an option.”

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  • Vietnam confirms plan to fly non-stop to California in 2018

    Vietnam confirms plan to fly non-stop to California in 2018

    Vietnam’s government has approved plans to expand its air network to major markets including Australia, China, Europe and the United States starting from this year.

    According to the plan, Vietnam Airlines will go through with its proposal to open non-stop services to the U.S., starting with direct flights to the west coast in 2018. The national carrier is considering between San Francisco and Los Angeles.

    The U.S. proposal was revealed a couple of years ago and received much excitement, given busy travel between the countries. The U.S. is the fourth largest source of foreign visitors to Vietnam, with more than 614,000 people coming in 2017, up 11 percent from the previous year, according to the General Statistics Office.

    Aircraft manufacturer Airbus said in September 2016 that it had signed an MoU with Vietnam Airlines to deliver 10 A350-900 aircraft, which will be used for non-stop flights to the U.S.

    But the giant economy across the Pacific is just part Vietnam’s sky plan.

    For its neighbor China, Vietnam is set to open dozens of new flights by 2020.

    The new routes will connect Can Tho, Da Lat, Da Nang, Hai Phong, Hue, Nha Trang and Phu Quoc Island of Vietnam with at least 17 Chinese destinations: Changchun, Chongqing, Dalian, Fuzhou, Guilin, Guiyang, Haikou, Hainan, Harbin, Lanzhou, Ningbo, Shenyang, Wuhan, Xi’an, Xiamen, Xishuangbanna and Zhengzhou.

    Current flights to Beijing, Chengdu, Guangzhou and Shanghai will increase passenger load by adding to their frequency and using bigger aircraft, according to the development plan which has been approved by Prime Minister Nguyen Xuan Phuc.

    Chinese passengers to Vietnam surged nearly 50 percent to more than 4 million in 2017, accounting for nearly a third of foreign arrivals to the country.

    Vietnam’s aviation development plan also involves new flights to Australia, France, India, Japan, Malaysia, Russia, South Korea, Thailand, and the U.K., all of which now benefit from Vietnam’s e-visa and visa waiver programs.

    The country welcomed nearly 13 million foreign visitors and raked in nearly VND515 trillion ($22.7 billion) from tourism in 2017. It hopes the new air routes will bring the number of visitors up to 17-20 million in the next two years, when tourism money will contribute 10-12 percent to the economy, compared to the current 7 percent.

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  • WeChat and Guangzhou government to introduce WeChat ID

    WeChat and Guangzhou government to introduce WeChat ID

    WeChat may soon become an indispensable part of the Chinese citizens after a report emerged claiming that the Tencent-owned messaging app will be used to officially ID people.

    The Guangzhou government has reportedly initiated a pilot program which creates a virtual ID card through WeChat account of registered users. This Virtual ID card has the same purpose as that of a normal state-issued ID card.

    The South China Morning Post claims that according to Xinhua, the service will soon be introduced in the rest of the country as well.

    WeChat is currently the largest social media platform in China and also has additional features such as payments and money transfers. The program, called the WeChat ID, was co-developed by the Ministry of Public Security and the WeChat team said the report.

    The WeChat ID can be used as an official ID to register in hotels or applying for government jobs without bringing in the state issued ID.

    A similar kind of electronic ID system was earlier implemented in the city of Wuhan, where the branch of the Public Security Bureau partnered up with Alipay to launch an electronic ID card service as reported.

  • Hong Kong Recovery Boosts Jewelry Sales

    Hong Kong Recovery Boosts Jewelry Sales

    Sales of jewelry, watches and other luxury items in Hong Kong rose in the first 11 months of 2017 as tourists returned and local consumer sentiment recovered, the city’s official data authority said.

    Retail sales for the category grew 5% year on year to $8.49 billion (HKD 66.35 billion) for the January-to-November period, Hong Kong’s Census and Statistics Department said in a statement Wednesday. November proceeds jumped 8% to $783.1 million (HKD 6.12 billion), it added.

    Sales across all retail products rose 1.8% for the first 11 months, and climbed 7.5% in November, reflecting the “visible growth in visitor arrivals and the [optimistic] consumer sentiment during the period,” a spokesperson for the Hong Kong government said.

    Hong Kong’s luxury retail sector is largely reliant on purchases by tourists from mainland China. A slump in visitors from that location hit Hong Kong’s retail industry over the last two to three years, with sales of jewelry and other luxury items sliding 17% in 2016. However, the tourist sector recovered this year: Visitors from mainland China rose 3.6% from January to November, to a total of 40.2 million, according to the Hong Kong Tourism Board.

    Meanwhile, the total number of tourists arriving in Hong Kong from all locations jumped 7% to 5 million in November compared with the same month last year. During the first 11 months of 2017, the figure climbed 3.1% to 52.9 million.

    As a result, Hong Kong jewelry retailers saw significant improvements in their 2017 performances. Chow Tai Fook’s same-store sales jumped 9.5% in Hong Kong and Macau in the six months ending September 30, while Luk Fook recorded 13% growth in retail sales for the same region.

    “The near-term outlook for retail sales remains positive, as consumer sentiment is buttressed by the favorable employment and income situation, and as inbound tourism continues to recover,” the government spokesperson noted.

    The upturn in 2017 also affected the diamond trade, with imports of polished stones into Hong Kong growing 7% to $14.07 billion in the first nine months.

     

  • 50,000 malaysians expected to be laid off in 2018, says report

    50,000 malaysians expected to be laid off in 2018, says report

    MORE than 50,000 employees are expected to be laid off this year as reported.

    The English daily quoted Malaysian Employers Federation executive director Shamsuddin Bardan as saying manufacturing would be the main sector affected, followed by the services (insurance, banking and retail) and construction sectors.

    He said among the challenges facing the job market were the levy imposed on employers for the hiring of foreign workers and the Employee Insurance Scheme.

    “The increase in maternity leave days, from 60 days to 90 days, as well as the possibility of paternity leave, will also be factors.”

    The report said automation would continue to be another factor for job losses as more companies turned to robotics and information technology.

    “Multinational corporations involved in labour-intensive industries are also leaving due to higher wage costs in Malaysia,” said Shamsuddin.

    “They are moving to more attractive and lower-labour-cost nations, where there are no high social costs.”

    He said Cambodia and Laos were among the countries where wages were below US$100 (RM402.59) per month, whereas in Malaysia, they were about US$250.

    Malaysian Trades Union Congress president Abdul Halim Mansor was quoted as saying that based on information from the Labour Department, between 30,000 and 50,000 people could be retrenched this year, involving those from the finance, construction and manufacturing sectors.

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  • DBS and Chubb sign 15-year bancassurance partnership

    DBS and Chubb sign 15-year bancassurance partnership

    Singapore’s DBS Bank and insurer Chubb have signed a bancassurance agreement to distribute home, contents and selected personal accident and supplemental health (A&H) insurance products as well as general insurance products for SMEs.

    Effective 1 January 2018, the insurance distribution partnership will be valid for a period of 15 years and will cover Singapore, Hong Kong, China and Taiwan.

    The bancassurance partnership in Indonesia will be launched at a later date, subject to regulatory approval.

    Under the terms of the agreement, the lender will distribute Chubb insurance products to its six million retail, wealth and SME customers through a network of more than 200 branches as well as via its digital banking platforms.

    DBS Bank deputy group head of consumer banking and wealth management Pearlyn Phau said: “This partnership represents the coming together of two leading organisations, combining DBS’ superior Asian banking franchise with Chubb, the world’s largest publicly traded property and casualty (P&C) insurance company and a global leader in general insurance and reinsurance.

    “Chubb’s track record in delivering digital innovation, collaborating with partners and offering a suite of market leading products across multiple customer segments makes them an ideal partner for DBS.”

    Chubb country president in Singapore Adam Clifford said: “This strategic partnership provides significant growth opportunity in bancassurance for Chubb and DBS. With our extensive product and digital capabilities, as well as best-in-class service standards, we hope to deliver the Chubb brand promise of excellence to all of DBS’ customers in Singapore.”

  • Alibaba opening more fresh food stores

    Alibaba opening more fresh food stores

    Alibaba Group Holding Ltd announced on Wednesday the opening of another 30 Hema Xiansheng fresh food supermarkets throughout Beijing this year, as internet giants focus increasingly on the lucrative fresh-food retail sector.

    The announcement came right before JD’s first fresh food supermarket 7Fresh started its official operation on Thursday, an indication of the increasingly intense competition and rapid expansion of the two e-commerce giants.

    With Hema opening in major commercial districts across Beijing including Xizhimen, Guang’anmen and Shuangjing, consumers in major urban areas of Beijing can have their groceries delivered to a location within a radius of three kilometers from the store in 30 minutes.

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  • Masquespacio takes inspiration from a laboratory for its colourful store

    Masquespacio takes inspiration from a laboratory for its colourful store

    Clashing colours and sharp angles characterise a unique retail interior created by Spanish design studio Masquespacio, giving little away as to the store’s purpose.

    The space is home to smartphone and gadget repair shop Doctor Manzana, the company’s second store, located in Valencia’s university district.

    Online design magazine Dezeen reports that having already designed Doctor Manzana’s first retail store back in 2013, Masquespacio wanted to use the same bold colours and patterns they had introduced four years ago, but with the addition of some new elements.

    While one half of the space is painted salmon pink, the other has a silver metallic finish, reports Dezeen.  The blocks of colour are applied to the walls, floor, ceiling and fixtures at 54-degree angles, which the designers say is a reference to the angle that a touchscreen device is held at.

    “Besides the four different colours – green and blue as a reference to the doctor, salmon for the fashionistas and purple for the geeks – the metal adds an industrial touch that reminds us of the laboratories,” explained the designers, Ana Milena Hernandez Palacios and Christophe Penasse.

  • Top 10 streetwear retailers

    Top 10 streetwear retailers

    This year was an exceptional one for independent luxury stores and the biggest names were at the top of their game, creatively outdoing one another each step of the way.

    Most notably, with streetwear strongly part of the high-fashion vernacular nowadays, it is no longer a surprise to see shops place astronomically-priced brands next to mid-range streetwear labels.

    It all comes down to a careful curation and not only did some of our favorite spots refine their stock list but they also went a step above by delivering exciting activations and must-have collaborations.

    Whether it was a pop-up shop partnership with a music artist, an in-store art installation or a well-aligned product collaborations, it was evident that the most focused boutiques had the goal in mind to bring hordes of customers through their doors. While selling out product was a plus side to it all, the more important factor was continuing to bolster their reputation as elite purveyors of quality goods. And for some, especially the names we have listed below, they continued to make their mark with class and an undying commitment to their customer base.

    These are the top 10 retailers of 2017, in no particular order.

    1. Maxfield LA
    Los Angeles’s Maxfield and Maxfield Gallery crushed the competition in terms of pop-up installations. They were already a cut above the rest when they partnered up with Vetements in January for a Dry Cleaning-themed space, then Fear of God followed suit as well as a team-up with music acts such as Daft Punk and Guns N’ Roses. Needless to say, Maxfield was the king of pop-ups in 2017.

    2. colette
    It will be hard to see colette go as it closes its doors this December. Despite this, the iconic French retailer continued to show love for indie labels possessing great potential. Considered as “the trendiest store in the world,” colette brought us a slew of special activations and collabs this year including a Balenciaga takeover, a Chanel partnership that produced one of the most coveted Pharrell adidas Hu NMDs ever made and a Saint Laurent pop-up for its grand and final opus.

    3. KM20
    Olga Karput is a true visionary and her newly-opened mega store, KM20 in Moscow, has without a doubt cemented the city and the country of Russia as a true force in fashion. It’s an outpost for the coolest of the cool with the likes of Gosha, Virgil and Heron having had a helping hand in putting it on the map. But with Olga’s continued focus, KM20 is poised to make some even bigger waves this upcoming year.

    4. Dover Street Market London
    No other retailer in the world can add whimsy and wonder to a shopping experience quite like Dover Street Market. Its London flagship had a monumental 2017 spearheading a number of collabs ahead of its competitors. The brand forges on as a formidable name in fashion and this year was just another impressive milestone for its creators Rei Kawakubo and Adrian Joffe.

    5. KITH Manhattan
    Ronnie Fieg had another big year with the grand opening of the new Manhattan KITH store in Soho. In addition to his long list of collaborations in 2017, Fieg also brought something new to his shop’s latest outpost — an art gallery in partnership with friend and collaborator Daniel Arsham. KITH’s name continues to expand globally but Fieg’s quest for domination will always be rooted in this particular New York location.

    6. HAVEN
    HAVEN was another store that relocated and reopened — it’s now a bigger and brighter space located at 190 Richmond Street East in Toronto. HAVEN’s rep has always preceded itself as a first-rate curator of fine Japanese streetwear and sneakers. Now, it has an even better outpost to house these hard-to-find gems. In addition to celebrating its 10th anniversary this year, HAVEN also debuted an in-house line of garments and accessories.

    7. SSENSE
    SSENSE has firmly established itself as a top online shopping destination. The retailer does have an outpost in Montreal but most of its efforts are dedicated towards its web presence. With that said, much praise should be given to how SSENSE has transformed itself to become a triple threat in 2017, as a quality online shop, a cutting edge brick and mortar space and a must-read editorial site, all this thanks to founder Rami Atallah and 032c’s Joerg Koch.

    8. END.
    Online and offline shoppers will always be lucky to have END. The U.K. shop, which also has a newly-opened Glasgow outpost, had a massive 2017 with its unforgettable sneaker and fashion collaborations. END.’s brand list continues to grow and more careful consideration is being taken to assure customers not only get the best products but the finest service, whether that’s fast shipping times or the not-to-be-missed discount codes and sales.

    9. Slam Jam Socialism
    Globally, Slam Jam has defined the cool allure of streetwear for decades. 2017 brought the brand plenty of collaborations with some of the industry’s most respected brands, like 032c, NEIGHBORHOOD and Carhartt WIP. It also upped its editorial game through behind-the-scene stories and interviews alongside important street culture figures. SJS’s stock lineup remains healthy and its special events continue to give strength to the surrounding community.

    10. GR8 Tokyo
    Japan has always been at the forefront of streetwear and GR8 is one of the retailers in Tokyo making some groundbreaking moves. For one, its brand list is made up of all the who’s who in streetwear today. There’s a progressive mindset to the curation and it trickles down to the shop’s ultra-hip brand identity and special store activations. 2017 was a breakout year for GR8 and it’s an establishment worth paying attention to in 2018.

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  • Alberta Ferretti opens new store in Shanghai

    Alberta Ferretti opens new store in Shanghai

    Italian fashion label Alberta Ferretti, part of the Aeffe group, has opened its first monobrand store in Shanghai.

    Covering 350sqm over two floors, the China flagship store is in the Shanghai Center in the Jingan district.

    Designed by Milan’s Storage Associati architectural firm, the boutique has two feature windows overlooking Nanjing West Road. Inside, the two levels are connected by a veined-marble staircase and pink glass. The space is characterised by pastel-coloured seats and rounded glass benches embellished with myrtle briar and golden metal.

    The store offers ready-to-wear collections and accessories, plus a limited-edition line of cocktail and evening dresses.

    Guests at the official opening of the store included actresses Chen Ran and Liu Tao, and supermodel You Tianyi.

    Aeffe also controls the fashion houses Moschino, Philosophy by Lorenzo Serafini and Pollini.

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