Category: Fashion

Retail News Asia is committed to providing both local and global retailers with the latest Fashion news throughout the Asian market. This on a daily base.

  • Senreve opens first Hong Kong pop-up store

    Senreve opens first Hong Kong pop-up store

    San Francisco-based online bag brand Senreve has opened a standalone pop-up store in Hong Kong, its first foray into a major city mall.

    Founded in 2016, the brand specializes in Italian-made luxury handbags. The new store has opened in the atrium of Pacific Place in admiralty.

    Designed by Hong Kong and London-based Editecture studio, the pop up features what the design team describes as an organic and open space to highlight Senreve’s core products and new lines.

    Operating until August 6, the pop-up will host workshops in collaboration with local female artists and entrepreneurs. Customers who make a purchase above a specific value will be invited to receive custom twilly scarf embroidery, tarot-card readings, and other benefits free of charge.

    Senreve previously opened a pop-up store-within-a-store last summer inside Khromis in Sheung Wan.

    The company also recently raised US$16.75 million in Series A funding for its upcoming Asian expansion.

  • Japanese entrepreneur revisits nation’s golden apparel era with Factelier

    Japanese entrepreneur revisits nation’s golden apparel era with Factelier

    Toshio Yamada, the founder of Factelier, is a young Japanese entrepreneur who wants to preserve the craftsmanship of his country’s apparel industry.

    Yamada has created his own uniquely Japanese brand Factelier which designs and sources clothing and accessories for men, women and babies from experienced, typically family-owned, clothing factories spread all over the nation. They are sold online and shipped to 100 countries, through a small network of boutiques in Japan and Taiwan, and in selected department stores.

    Yamada’s vision is to preserve the rich heritage of apparel manufacturing and let the suppliers he works with emerge from the unavoidable anonymity that comes with supplying global brands.

    Thirty years ago, Japan, one of the world’s largest apparel markets, used to produce 50.1 percent of its domestic sales. Today, thanks to the rise of fast fashion and the outsourcing of manufacturing to countries like China, Bangladesh and Vietnam, that share has slumped to just 3 percent. More than three-quarters of the companies manufacturing clothing in Japan in 1990 are no longer trading today.

    Yamada was born into a family that ran a women’s clothing store for 100 years in Kumamoto, on the island of Kyushu. Living upstairs, he helped out on the shop floor from early childhood, surrounded by quality locally made clothes in an era when ‘made in Japan’ was familiar.

    Later, as a student, Yamada interned with luxury label Gucci in Paris. There the realization dawned on him that labels like Gucci, Hermes, and Louis Vuitton were all born in factories. “So they respect craftsmanship. Now I’m hoping to revive the local craftsmanship in Japan.

    “Our dream is to create world-class brands made in Japan, and build a sustainable and profitable link between these local artisans and consumers around the world, by selling clothes from Japanese factories directly to consumers, cutting out the middleman,” he told Inside Retail Asia.

    Factelier was created via an astonishing commitment to researching the industry. Yamada personally visited some 600 factories the length and breadth of Japan before selecting 55 of them as suppliers, all of them with experience in supplying top international brands.

    “A lot of these companies did not have a homepage, right, and Google did not know about them. So I would take a train and get off at a station and go to a telephone box and use the telephone book to find them.” He would then phone the factories he found listed and ask if he could stop by.

    Somewhat surprised, they invariably welcomed him. “It was a very old style approach,” he recalls.

    Having built the network he not only maintains constant personal contact with his suppliers, but their company names appear beneath Factelier on the clothing labels. The connection between craftsmanship and consumer runs even deeper: Yamada’s company runs regular factory tours for customers so they can see the art and commitment that goes into the clothing they buy.

    “We know the stories behind the factories, how they make the products, and it’s very interesting – when our customers go to the factories and they see the craftwork behind the clothes they become loyal customers.”

    It took Yamada three years to build the base of the business, living off a part-time job as he traveled from factory to factory and developed designs and products. Eight years since his mission began, Factelier has grown to a 50-strong team with four stores and a warehouse in Japan, two stores in Taipei – and even a cafe. Sales are currently doubling twice a year with 80 percent of orders from Japan. The largest overseas markets are the US, Mainland China, Taiwan and Hong Kong.

    “Fashion manufacturing used to be a declining industry in Japan, but I think if we have the passion and the vision, I think we can revive it. And more importantly, [our customers] will spend more for better products.”

    Factelier’s garments are of similar quality (but not design) to those being supplied to the likes of Gucci or Hermes – but sell for about half the price. It helps, of course, that Factelier is not paying for massive international advertising budgets and other overheads associated with luxury brands. Typically the factory gets a higher price for the clothing it produces for Factelier because the two parties jointly decide on the retail price, rather than the label dictating pricing and how much the factory gets for making it.

    “It’s a very, very different business model from traditional brands,” says Yamada.

    That said, the factories could not survive on Factelier alone – the Japanese label typically only accounts for between 5 and 10 percent of a partner factory’s production. But they are getting a better deal and Yamada says many are finding themselves able to employ more graduates to expand their business.

    The closer relationship between brand, manufacturer, and the customer has produced an unexpected spinoff: consumers are starting to influence the range and style of clothing being produced, especially in the field of functional clothing.

    “One day a customer asked us to manufacture clothes that would repel mosquitos. That’s a very, very difficult request.” Diligently working with factories and textile suppliers Yamada’s team succeeded, by incorporating a herb in the fabric that sends the mozzies packing.

    During our conversation, Yamada wore a stylish blue wrinkle-free jacket. “If I pack it in a trunk, it does not crease.” Another product uses baseball-uniform techniques to create 3D pattern effects.

    And Factelier sells stain-proof white jeans. Spill soy sauce, wine, coffee or ketchup over the denim and it comes off immediately without leaving a stain. This was another product designed to fulfill a customer’s request.

    Besides his interest in functional clothing, Yamada is committed to sustainability. The company uses natural fibers and biodegradable fabrics and it recently planted an organic cotton farm near Mount Fuji. Japan imports 99 percent of its cotton and he wants to change that reliance on other countries.

    Yamada is optimistic there is a strong future for direct-to-consumer brands. “The size of the B2C market in Japan expanded to US$180 billion in 2018. It grew by $160 million, or 9 percent, in that year.

    “Yes, craftsmanship is very big. I want to spread the idea of craftsmanship all over the world.”

  • NASA-linked perfume recreates the ‘smell of space’

    NASA-linked perfume recreates the ‘smell of space’

    A new perfume backed by a kickstarter campaign is inspired by NASA astronauts’ descriptions of the smell of space.

    According to a Designboom feature, Eau de Space – developed by chemist and Omega Ingredients founder Steve Pearce – is a perfume based on the scent developed decades ago for astronauts in training to prepare them for extraterrestrial experiences beyond the atmosphere.

    The original formula is based on reports from returned astronauts, who described the smell of space as “seared steak, raspberries and rum” and “a bitter kind of smell in addition to being smokey and burned … like a smell from a gun, right after you fire the shot”.

    The formula for the scent has been a closely-guarded secret for years.

    The scent developers partnered with leading perfumers to create “a fragrance that sparks curiosity while leading to an increased interest in Stem (science, technology, engineer, mathematics) students grades K-12”, according to the feature.

    Pearce has hinted that the team’s next project will be to release a scent inspired by the smell of the moon…

    Here’s a cool video release to promote the new fragrance…

  • Hugo Boss expands online reach into Asia, Australia

    Hugo Boss expands online reach into Asia, Australia

    Fashion label Hugo Boss is expanding its online reach to the Asia Pacific market.

    The German brand has added 22 more countries to its e-commerce portfolio, including Australia, New Zealand, Japan, and Singapore, along with markets in Europe. Customers from those countries can now access Hugo Boss’ latest collections from their home and have products shipped directly.

    “The importance of digital distribution channels for the global apparel industry is growing rapidly,” said Mark Langer, chairman of the company’s managing board.

    “The coronavirus crisis has further accelerated this trend. We are therefore rolling out our online store in additional countries as quickly as possible and … systematically pushing ahead with the digitization of our business model.

    The fashion label plans to add three more countries – India, Mexico, and Canada – later this year.

    Meanwhile, Hugo Boss says it plans to focus on the European and Asia-Pacific markets for growth, via concession stores, during the coming years.

  • Capri prospects ‘ugly’ as Michael Kors, Jimmy Choo underperform

    Capri prospects ‘ugly’ as Michael Kors, Jimmy Choo underperform

    US luxury group Capri has ended its fiscal year on an unsurprisingly gloomy note, largely due to the negative impact of the coronavirus.

    While the slip of 11.3 percent in total revenue does not look too bad compared to some other retailers, this is mostly because Capri’s quarter ends on March 28 and, therefore, does not include the massive disruption of April and May when the US and many other countries went into lockdown.

    These numbers are something of a prelude to a significantly uglier set of first-quarter results – indeed, Capri expects revenue for that period to be down by around 70 percent.

    On a brand basis, Jimmy Choo posted the worst performance with revenue down by 23 percent. On the bottom line, the division made an operating loss of US$23 million. While performance has been improving over the past couple of quarters, mainly thanks to enhanced collections of active footwear and accessories, the disruption of the pandemic badly affected the sale of more formal and fashionable footwear styles as consumers started to work from home and restricted socializing.

    Unfortunately, this is a trend that will continue for at least the next two quarters and it is hard to see Jimmy Choo regaining much momentum. That said, the year-old decision to transform Jimmy Choo into a more balanced luxury brand that sells high-end footwear for leisure, some fashionable sneakers for active occasions, and a wider range of accessories, now seems extremely prescient.

    This will not completely offset the challenges in other parts of the market but does give Jimmy Choo a lifeline that will stop it from completely sinking.

    Versace bucked the general trend with a 55.5-per-cent increase in sales. Some of this is due to softer comparatives from the prior year, when Capri had only just taken control of the business.

    However, the company also deserves credit for the various improvements it has made to the brand, particularly in terms of collections. A renewed focus on accessories, driven by a new Virtus range supported by strong marketing, has helped to boost sales. As GlobalData noted prior to the acquisition, the Versace brand was, admittedly by design, rather gaudy and off-putting for many consumers. Working with Donatella, Capri has begun to change this by creating a more understated, but still flamboyant, selection which has successfully improved both customer engagement and brought new shoppers to the brand.

    While there is no doubt that Versace will be disrupted by the pandemic in the near term, the brand appears to have a renewed sense of purpose which will help it to deliver next year and beyond. While Versace thrived, the Michael Kors division remains in distress. Revenue was down by 18.4 percent off the back of a very modest decline in the prior year. This caps a year when sales have fallen in every single quarter.

    Although some parts of the assortment, such as sneakers and accessories, have performed well, the rest of the business is lackluster. Michael Kors still suffers from an identity crisis: the brand spans far too many different styles, products, and price tiers. As a result, it lacks integrity and is unable to build a business or aesthetic around a clear, core customer. In a highly competitive marketplace of luxury brands, this position simply isn’t good enough to drive sustainable growth.

    Unfortunately, these trends are not new and have been in play for at least two years. Now that Versace and Jimmy Choo appear to have more sound underlying strategies our hope is that management will turn its attention to untangling the Gordian knot of Michael Kors’ brand image.

    Overall, like other retailers, Capri is in for a rough ride over the next six months. It has the liquidity to survive the storm. But it must work on making its core brand seaworthy for the calmer waters ahead.

  • Struggling Esprit axes more stores, 1200 staff

    Struggling Esprit axes more stores, 1200 staff

    Apparel chain Esprit will axe 1200 employees globally, including 100 in its Hong Kong office and 800 store employees in Germany as part of its ongoing restructuring program.

    A permanent reduction in salaries and benefits will be imposed on all remaining staff, except for those working in stores.

    Esprit has received court approval to open insolvency proceedings for its German subsidiaries allowing it to continue with the self-administration process under which it will streamline its business in Europe.

    In a filing with the Hong Kong stock exchange, Esprit said Dusseldorf District Court-appointed custodian Dr Biner Baahr, who has worked with Esprit executives since March to complete a restructuring plan, will continue in his role overseeing the plan’s implementation in a process similar to the US’ Chapter 11 restructuring process, called Protective Shield Proceedings.

    A creditors’ meeting will be held on August 19 to assess claims made before and during the Protective Shield Proceedings before a vote is held on the percentage of the creditors’ claims which will be paid out.

    The job cuts announced this week following the closure of all 56 Esprit stores across Asia, outside Mainland China, this week. Another 50 will now be axed in Germany – stores which accounted for 17.2 percent of the group’s total revenue in the year to June 30.

    Another part of the restructuring plan will see contracts with service providers renegotiated to obtain more favorable terms.

    Esprit calculates the combined savings from these initiatives will amount to US$116 million, but one-off costs of the restructuring will add up to about $64.5 million in the June 2021 year.

    Meanwhile, Esprit says its management team is currently working to strengthen the brand’s purpose, create a “consistent customer experience across all touchpoints,” improving production quality and sustainability credentials and focusing on “full-price sales”.

    A further update will be released along with the company’s annual results by the end of September.

    Esprit shares are currently trading in Hong Kong at around US 11 cents each.

  • Gap closing retail stores in Hong Kong

    Gap closing retail stores in Hong Kong

    Gap has become the latest retail victim of Covid-19 in Hong Kong, shutting its flagship store in Tsim Sha Tsui and at least one other store.

    The US apparel chain follows in the footsteps of fellow American retailer Victoria’s Secret, which abruptly closed its giant Causeway Bay flagship store last week.

    Gap has launched a clearance sale in Tsim Sha Tsui and its Hysan Place store in Causeway Bay, ahead of their closure sometime during the next few weeks. A notice outside the Tsim Sha Tsui store advises customers they will be able to shop at other stores or on the brand’s website.

    A staff member working at the Gap store reportedly leaked to local media that Gap Hong Kong will shut three more of its eight branches next month, including the recently-opened K11 Musea store. The three shops set to continue trading are at Queen’s Avenue in Central, V City in Tuen Mun and Citygate in Tung Chung.

    The US fashion brand was already struggling before the advent of the Covid-19 pandemic. Last year, Gap said it would close 230 stores worldwide within two years. Global sales recently recorded a 43-per-cent drop in the first quarter, worse than rival apparel retailers, in the wake of the pandemic crisis.

  • VF Corporation to boost Greater China management ranks

    VF Corporation to boost Greater China management ranks

    Apparel, footwear and accessories firm VF Corporation is making a series of organizational changes it says will “strengthen and accelerate” its business strategy in Asia Pacific, with a particular focus on China.

    The company, which owns a portfolio of outdoor and activity-based lifestyle and workwear brands, including Vans, The North Face, Timberland, and Dickies, expects China to account for 80 percent of its global sales by 2024, up from 65 percent now.

    VF is establishing a new position of president, Greater China, expecting to make the appointment later this summer. The person will be responsible for operations in Mainland China, Hong Kong, and Taiwan.

    “When we introduced our new global business strategy in 2017, we declared our commitment to invest in our Apac region and accelerate growth for our brands, all with a particular emphasis on China,” said VF Corporation chairman, president and CEO Steve Rendle.

    “By creating the new position of president, Greater China, we’re leaning even further into the many opportunities we see to elevate our business and brands in this fast-moving, digitally-driven marketplace. We look forward to announcing our appointment later this summer.”

    VF Corporation’s current group president Asia Pacific Kevin Bailey (right) will continue in his role but relocate to Colorado, where he will add the firm’s Emerging Brands portfolio to his responsibilities.

  • Sephora Asia appoints Alia Gogi as its new president

    Sephora Asia appoints Alia Gogi as its new president

    Alia Gogi has been appointed as the new president of Sephora Asia, succeeding Benjamin Vuchot who will move to a new, yet-to-be-announced role with parent company LVMH.

    “Alia joined Sephora China as chief merchant nine years ago and has been key to transforming our SEA business,” said Chris de Lapuente, CEO of Sephora.

    “She brings to Sephora Asia a wealth of experience acquired from working at Sephora China and Sephora SEA, proven leadership skills, a true passion and intuition for prestige beauty products, as well as a tremendous hunger for driving the business above and beyond.”

    Alia Gogi joined Sephora China as a chief merchant in 2011 and has served as MD Southeast Asia since 2018. Sarah Boyd, currently Southeast Asia VP of markets, will take over Alia Gogi’s former role to oversee Sephora Southeast Asia.

    Under Benjamin Vuchot’s leadership, Sephora’s business has almost doubled in the region within three years, according to the company.

    “He leaves Sephora with the strongest Sephora Asia organization we ever had,” said de Lapuente.

  • NYX shutting down all of its Malaysian stores

    NYX shutting down all of its Malaysian stores

    NYX Cosmetics is to close its retail operations in Malaysia after three years in the market. According to a report by Marketing-Interactive, the US cosmetics firm – a L’Oreal subsidiary – has permanently closed outlets in Suria KLCC, Sunway Pyramid, and Midvalley Megamall as of last month, three years after opening its flagship store at IOI City Mall Putrajaya. That outlet, as well as those in Fahrenheit 88 and Genting, will be shuttered by the end of this month.

    The NYX flagship featured interactive beauty bars and a digital community wall. It also displayed digital images and social media content throughout the store.

    “We sincerely thank you for all the love, energy, passion, and enthusiasm from our fierce beauty junkies community,” read the brand’s Facebook post announcing the departure from the Malaysian market. “There were many incredible moments with lots of glitters, color, and amazing makeup artistry.”

    The store will continue its e-commerce operations in the territory through to the end of September.

    However, the brand will not exit the market completely. It is understood it will still be available in Sephora stores and potentially other multi-brand channels.

  • Gap, Kanye West launch new label Yeezy Gap

    Gap, Kanye West launch new label Yeezy Gap

    US fashion apparel retailer Gap has teamed with rapper Kanye West’s brand Yeezy to launch a range bearing the Yeezy Gap label.

    The partnership marks the circular relationship between the entrepreneur and Gap as Kanye used to work in a Gap store when he was a teenager in Chicago, before his music career took off.

    “We are excited to welcome Kanye back to the Gap family as a creative visionary, building on the aesthetic and success of his Yeezy brand and together defining a next-level retail partnership,” said Mark Breitbard, global head of Gap.

    The company said the new range will offer modern basic designs for men, women and kids with accessible price points. To celebrate the partnership, the Chicago Gap store features a giant message from West together with a logo for Yeezy Gap line.

    The products are scheduled to launch at Gap stores in the first half of next year.

  • Seafolly on the search for sales after entering administration

    Seafolly on the search for sales after entering administration

    The Covid-19 pandemic has claimed another regional fashion label, with Australian swimwear and beachwear brand Seafolly collapsing into administration yesterday.

    Scott Langdon and Rahul Goyal of KordaMetha Restructuring were named as administrators, citing the pandemic as a key reason for the collapse.

    Langdon confirmed KordaMentha will immediately begin a sale of the business process.

    Seafolly has 44 stores in Australia and 12 overseas including about four in Singapore. It recently launched on Tmall in Mainland China hoping to get traction in that market.

    “Given the quality of the brand and its reputation, there will inevitably be a high level of interest in purchasing the business,” Langdon said.

    Seafolly’s Australian stores will continue to trade, and all gift cards and reward points will continue to be redeemable.

    Seafolly joins Australian retailers including Tigerlily, G-Star Raw and Hong Kong-owned Jeanswest in collapsing under the pressure of the pandemic.

    Seafolly is owned by US private-equity investment company L Catterton, in turn controlled by the Arnault family which owns LVMH. The foreign ownership may have made it impossible for the business to receive the Australian government’s JobKeeper wage subsidy.

  • Jeweller Luk Fook sees early signs of recovery in Hong Kong retail

    Jeweller Luk Fook sees early signs of recovery in Hong Kong retail

    Hong Kong-listed jeweler Luk Fook has reported early signs of a recovery in the Hong Kong market this month, despite the border with Mainland China effectively-remaining closed to visitors.

    In April and May, with tourist numbers to Hong Kong and Macau at a record low due to Covid-19 related travel restrictions, sales fell by about 80 percent, although same-store sales in mainland stores recorded “a much smaller decline” as retail stores resumed business and consumer sentiment began to recover.

    “Starting from June, the retail sentiment in the Hong Kong and Macau market gradually recovered,” said chairman and CEO Wai Sheung Wong in a commentary on the groups’ annual results filed Friday.

    “The decline of same-store sales in the first three weeks narrowed to around 60 percent, while overall shops in the mainland market showed progressive improvements with a less than 20-per-cent decline in June as compared to the 20-per-cent drop in April to May and 40-per-cent drop in March.”

    As a result of Hong Kong’s declining retail market, Luk Fook will close five stores in the city during the coming year and look for opportunities to open two in Macau.

    “In view of the anticipated considerable growth of the middle-class population in the mainland, the group remains optimistic about the mid- to long-term business prospects, and will focus its expansion in the mainland market,” said Wong.

    Due to the crippling impact of protests and Covid-19 on Hong Kong retail in the year to March and the pandemic along with the trade war impacting consumer sentiment among mainlanders, Luk Fook achieved a profit attributable to shareholders down 42 percent to US$111.7 million for the year.

    Sales declined by 29.2 percent to $1.445 billion, with Hong Kong and Macau same-store revenue down by 33.3 percent and on the mainland by 20.2 percent. However, a steady rise in the price of gold throughout the year saw the company’s gross margin increase by 4.2 percentage points to 29.6 percent.

    Network expansion

    During last year, Luk Fook added a net 234 Lukfook-branded shops – 233 on the mainland, and one licensed store in the Philippines – taking its global network to 2120. Outside Greater China, Luk Fook has stores in Singapore, Malaysia, Cambodia, the Philippines, the US, Canada and Australia.

    The company says it plans to open at least 150 new stores under the Lukfook brand on the mainland this year, primarily targeting licensed shops in tier-4 and tier-5 cities, and another 50 under other brands.

    Besides jewelry, the company is now an authorized dealer of 13 international mid- to high-end watch brands: Certina, Coinwatch, Doxa, Enicar, Hamilton, Longines, Mido, Omega, Rado, Romago Swiss, Tissot, Bijoumontre and Seiko.  Last year, the watch business accounted for $12.86 million in sales, down 39.8 percent on the prior year.

  • Reduced rents, high-end products help Oriental Watch stay in profit

    Reduced rents, high-end products help Oriental Watch stay in profit

    Listed Hong Kong timepiece retailer Oriental Watch Holdings has weathered the multiple crises of the last financial year to record a decrease in turnover of just 3.5 percent and a profit of US$12.9 million.

    While turnover was down to $303.6 million, gross profit was up by 7 percent to $83.2 million, “mainly due to the group’s positioning at the high-end luxurious watch market where our long-term customers maintain strong purchasing power, as well as our vigorous efforts in the control of inventory,” the company said in its results announcement.

    The net profit attributable to shareholders of $12.9 million was down by 27.5 percent, the decline largely due to impairment losses, an increase in the allowance for slowing-moving stock and decreasing sales due to Covid-19 in the first quarter of this calendar year. But the company warned the full impact of Covid-19 had not been represented in the 2020 year results.

    Chairman Yeung Ming Biu said the company had introduced “stringent cost-control measures, especially in rent costs” which were down by 15.7 percent to $18.7 million.

    “We have successfully negotiated lower rental rates and more flexible leasing terms, and hence lowering the overall rental cost. In addition, we conduct a regular assessment on the performance of all retail stores and close down non-performing ones to improve resources allocation. The Group will continue to closely monitor our stores’ performance as well as rental contracts in order to improve our efficiency and cost structure,” said Yeung

    Oriental Watch has 62 luxury watch stores in Greater China, 47 on the mainland, 11 in Hong Kong, three in Taiwan and one in Macau.

    By market, Oriental Watch achieved a 17.5-per-cent increase in sales on the mainland to $129.1 million, despite the declining consumer sentiment and the advent of the pandemic. In Hong Kong, year-on-year sales were stable despite the social unrest from June last year until the arrival of Covid-19. As a result, sales fell by 17.3 percent to $154.6 million.

    Sales in Taiwan and Macau grew slightly, but recorded a loss largely due to increased allowance for slow-moving stock.

  • Korean beauty giant opens 10th store in Australia

    Korean beauty giant opens 10th store in Australia

    Two years after first entering the Australian market, Innisfree has just opened its 10th store at Westfield Hurstville in southwest Sydney and says it will open two more stores in Westfield centers in Parramatta, NSW, and Burwood, Victoria, by August.

    The global beauty brand, which is owned by Amorepacific Group, the L’Oreal of South Korea, is known for its affordable skincare and makeup and environmental awareness. It claims to have collected and recycled over 15 million empty bottles since 2003 and planted over 79,000 of trees globally.

    Its steady expansion in Australia follows a strong response to its launch two years ago.

    “Australia has been a significant growth market for Innisfree and our customers have really adopted our naturally inspired products and our immersive retail experience,” Brian Jeong, GM of Innisfree Australia, said in a statement about the Westfield Hurstville launch this week.

    Company representatives have previously said the brand is committed to the Australian market for the long-term. Jeong said the brand will continue to review its growth strategy.

    Like many retailers in Australia, Innisfree closed its brick-and-mortar stores for the month of April amidst the COVID-19 pandemic. It has since resumed normal trading hours with new safety measures in place, including a limit on the number of people in stores, floor markings to maintain 1.5-meter social distancing, hand sanitizer at the entrance and throughout stores and increased cleaning.

    “All of our staff are sanitizing and washing their hands before and after each interaction and are regularly trained in stores in hygiene and safety practices,” Jeong said.

    Testers are also available on request and are sanitized before and after use. This is a new measure; until two weeks ago, testers had been taken off the floor.

    While rent has become a divisive issue for many shopping center retailers, Jeong said Innisfree has strong relationships with its retail partners.

    “It’s a long road ahead with many uncertainties; maintaining our relationships with retail partners and ensuring our customers’ optimal experience is our key focus,” he said. Innisfree offers over 650 products across skincare, makeup, body care, hair care, home fragrances, and beauty tools ranging in price from $1 to $98.

    It has over 1750 stores globally in 15 countries with over 20 million customers worldwide and claims that one bottle of its best-selling Green Tea Seed Serum is sold every seven seconds.

    The brand has an office in Melbourne and a partnership with local online beauty leader, Adore Beauty. Sister brands, Amorepacific and Laneige, are also stocked at Mecca and Sephora.

    In February, Amorepacific Group posted annual revenue of 5.6 trillion South Korean won (A$6.8 billion) for FY19, KRW 2.1 trillion (A$2.6 billion) of which was generated internationally.