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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.

  • Giordano International sales plunge again

    Giordano International sales plunge again

    Giordano International is set to report a second successive quarter of heavy sales decline.

    The casualwear retailer warned shareholders yesterday that underlying sales may fall by about 28 per cent, driving a 38-per-cent decrease in profit attributable to shareholders for the six months ended June 30.

    Chairman and CEO Peter Lau said the board believes the decrease was largely confined to the Greater China Region, and “primarily attributable to the weak retail environment and poor market sentiment in those regions stemming from the Sino-US trade war”.

    A factor in the profit figure was the adoption of new Hong Kong financial-reporting standards applicable to leases, which took effect on January 1 this year.

    The company will announce its interim results next month.

    In April, Giordano announced that sales in Greater China plunged by 17.7 per cent during the first quarter, dragging group-wide sales down by 10.8 per cent, or 8.5 per cent on a constant-currency basis.

    In a stock-exchange filing on the eve of the holiday weekend the casual apparel retailer blamed the downturn on “uncertainty stemming from the Sino-US trade dispute and abnormally warm weather”.

    Giordano sales in Indonesia, Thailand and Vietnam remained stable during the first quarter, and in the fledgling Middle East market rose by 10 per cent to HK$80 million, slightly compensating for the heavy impact of China.

    By market, Mainland China sales fell from $378 million to $295 million, in Hong Kong and Macau from $248 million to $225 million and in Taiwan from $201 million to $161 million. In the rest of Asia-Pacific, they declined from $422 million to $398 million.

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  • China boosts Uniqlo parent

    China boosts Uniqlo parent

    Uniqlo owner Fast Retailing’s healthy online sales and strong performance in overseas markets, particularly in China, have helped boost its third quarter results.

    The Japanese retailer said its online sales saw a 16.1 per cent year-on-year increase in the three months to May 31 to ¥19.0 billion (US$176.1 million), increasing their proportion of total sales from 7.8 per cent to 9.1 per cent.

    For the three months from March to May 2019, Uniqlo’s international segment reported strong results, with revenue expanding 15.3 per cent year-on-year and operating profit expanding 14.9 per cent year-on-year over that period.

    Uniqlo continued to achieve significant year-on-year growth in both revenue and profit in Mainland China, and achieved double-digit growth in both revenue and profit in Southeast Asia and Oceania on the back of strong sales of its summer range.

    But Fast Retailing’s less-than-stellar domestic sales have overshadowed the company’s strong performance in its e-commerce and international segments, indicating that Japan’s market still has a huge influence on the retailer’s results.

    The company’s domestic sales saw a 0.5 per cent decline brought about by shifting a sales event to June.

    On the profit front, the retailer’s operating profit declined by 7.5 per cent year-on-year on the back of a higher selling, general and administrative expense ratio, and a lower gross profit margin, which was dampened by its decision to bring forward discounting of leftover Spring Summer inventory.

    China continues to be one of the main engines driving overseas expansion, with sales in the country rising in the double digits.

    The retailer said Uniqlo so far hasn’t been hurt by the trade war between the US and China, and sales there were strong even in the face of a weaker yuan.

    Uniqlo Europe reported a decline in profit caused by unseasonal weather patterns and political uncertainty. However, within that region, Russia continued to perform strongly and report expanding revenue and profit.

    In terms of new-store activity, Uniqlo opened its first store in the Netherlands in Amsterdam in September 2018, as well as its biggest Southeast Asian global flagship store in Manila, Philippines in October 2018, and its first store in Denmark in Copenhagen in April 2019.

    Fast Retailing said it is planning to focus its efforts on expanding its global e-commerce operation and its Uniqlo international and GU casual fashion brands to meet its medium-term vision to become the world’s number one apparel retailer.

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  • Riccardo Tisci makes magic at Burberry

    Riccardo Tisci makes magic at Burberry

    Burberry is hailing the success of new creative director Riccardo Tisci as its June-quarter same-store sales grew by 4 per cent.

    Sales growth in China was up by the mid-teens, with Asia Pacific overall nudging 10 per cent.

    “This was a good quarter in our multi-year journey to transform Burberry,” said CEO Marco Gobbetti. “We increased the availability of products designed by Riccardo, while continuing to shift consumer perceptions of our brand and align our network to our new creative vision. The consumer response was very promising, delivering strong growth in our new collections.”

    The company described the response to Tisci’s designs as “excellent”, his collections delivering strong double-digit percentage growth compared to prior-year equivalent collections, and in line with Burberry’s expectations.

    The proportion of new product increased to around 50 per cent of the brand’s offer in mainline stores by the end of June.

    ‘‘Burberry’s transformation plan under new CEO Marco Gobbetti is starting to pay off,” observed Chloe Collins, senior retail analyst at GlobalData.

    She said much credit is due to Tisci, whose collections “offer a fresh and edgy revamp of the brand’s classic and neutral designs”.

    Burberry’s adept use of social media was also a factor in the recovery, with celebrity influencers such as Rihanna and Irina Shayk continuing to expand the brand’s reach and drive engagement with consumers.

    “Burberry must continue to invest in its social platforms to fight off other luxury players such as Gucci and Louis Vuitton, which are focusing on the channel to target younger shoppers. Burberry should more heavily promote its Instagram checkout feature to drive sales, as well as increasing brand engagement via marketing events.”

    Meanwhile, Burberry’s review of its retail network has seen 23 stores reconfigured to the new creative vision and led to a 2 per cent reduction in selling space, through the closure of non-strategic sites. Of 38 smaller stores selected for closure, nine have now been shuttered and in the wholesale space, Burberry is continuing to rationalise space in non-luxury US resellers.

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  • LVMH takes stake in Stella McCartney House

    LVMH takes stake in Stella McCartney House

    LVMH has bought a cornerstone share in Stella McCartney House.

    Full details of the deal will be released in September, however LVMH has confirmed Stella McCartney will continue as creative director and ambassador of her brand, while holding majority ownership.

    LVMH’s archrival house Kering previously held a stake in Stella McCartney House until the celebrity bought it out in March last year. The two new partners said their arrangement will aim to accelerate Stella McCartney House’s worldwide development in terms of business and strategy, yet remain faithful to its commitment to sustainable and ethical luxury fashion.

    Stella McCartney will hold a specific position and role on sustainability within LVMH as special advisor to the chairman and CEO, Bernard Arnault, and the executive committee members.

    “Since the announcement of my decision to take full ownership of the Stella McCartney brand, there have been many approaches from various parties expressing their wish to partner and invest in the Stella McCartney House,” said McCartney.

    “While these approaches were interesting, none could match the conversation I had with Bernard Arnault and his son Antoine. The passion and commitment they expressed towards the Stella McCartney brand alongside their belief in the ambitions and our values as the global leader in sustainable luxury fashion was truly impressive.

    “The chance to realise and accelerate the full potential of the brand alongside Mr Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” said McCartney.

    Arnault described the announcement as “the beginning of a beautiful story together”.

    “We are convinced of the great long-term potential of her house. A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on, and [she] built her house around these issues. It emphasises LVMH Groups’ commitment to sustainability.”

    Arnault said LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and “Stella will help us further increase awareness on these important topics”.

    McCartney described partnering with the Arnaults and LVMH as a big step for her, her family, and the Stella McCartney team.

    “The brand has achieved so much since its launch, and this new partnership with LVMH is recognition of that work, but this I feel is just the start, and I look forward to a brilliant future together”.

    The deal announced overnight is subject to normal conditions, including the approval of competition authorities.

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  • Superdry spins into loss as new management tries to restore sales

    Superdry spins into loss as new management tries to restore sales

    Struggling lifestyle-fashion label Superdry has reported a loss of £85.4 million for the year to March, a sharp turnaround in fortune after the £65.3 million profit of the prior year.

    The results were heralded by the company in a series of profit warnings and follow turmoil on the company’s board. Founder Julian Dunkerton has retaken the reins of the business and a raft of directors and senior management have left.

    James Yacoub, a retail analyst at GlobalData, says the disappointing results have been spurred on by a poor performance in the second half “which Superdry has put down to the unimaginative excuse of a ‘difficult retail climate’”.

    “Of course this may have been convincing had competitors experienced similar misfortunes, however this has not been the case for those innovating and who are in tune with customers, with online pureplay Boohoo achieving exponential revenue growth of 47.8 per cent while sports and athleisure retailer JD Sports achieved 49.2 per cent revenue growth over the same financial period,” said Yacoub.

    “Superdry is suffering from deep-rooted issues relating to its inability to remain relevant and ultimately differentiate itself from more nimble, innovative and the latest lifestyle brands.”

    Although Dunkerton’s return to Superdry will not have an immediate impact on performance, Yacoub says one would hope to see an improvement in results in 12 to 18 months when his influence on product, channels and brand has had a chance to filter through.

    Incoming chairman Peter Williams described the Superdry results as “clearly very disappointing”.

    “However, everything I have learnt since joining the business in April has reinforced my view that Superdry is a powerful brand with great people across the organisation.

    “While we have been clear it is going to take time, I remain convinced that continuing to work closely with Julian and the leadership team, we are building the right plan to deliver long-term sustainable growth for shareholders,” Williams said.

    However Yacoub says that while Dunkerton has announced plans to ‘bring back design excellence’, reset store profitability and to build a cohesive team to stabilise the business, these plans are rather vague and have not instilled any real confidence in investors, as Superdry’s share price continues to tumble.

    “It is imperative, however, that investors provide Dunkerton with sufficient time to implement his transformation plan, though more detail on product range development and margin control would help alleviate some concerns.”

    Yacoub says Superdry must find a way to breathe new life into its brand, it must define and capture its target audience through effective social-media campaigns and ensure that it is resistant to changes in fashion and seasonal trends.

    “Ultimately Dunkerton must futureproof the business by expanding its design range to appeal to a wider target segment and also innovate to maintain customer loyalty and increase engagement.”

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  • Belgian fashion chain Jean Paul Knott to enter China

    Belgian fashion chain Jean Paul Knott to enter China

    Belgian designer brand Jean Paul Knott will open its first Chinese flagship in Beijing next month.

    The designer behind the eponymous label, which emphasises high-quality fabric and minimalist design, revealed the plans at a recent conference marking the brand’s 2019 Autumn/Winter collection, inspired by the classic French 1960s romantic film A Man and a Woman, and featuring a natural and smooth linear beauty of cuts and edits.

    In a dialogue with local fashion writer and translator Gu Chenxi, Knott revealed that he has refocused on the “design of the clothing itself” in an attempt to introduce a “new sincerity to the Chinese market”.

    At the conference, Knott introduced a creative artistic and visual immersive experience designed around brand’s signature blue element, representing “the infinite possibilities of Jean Paul Knott in China”, and featuring stills and clips from A Man and a Woman.

    Knott studied fashion design in New York and worked in Paris with legendary designer Yves Saint Laurent.

  • Lady Gaga launches beauty brand Haus Laboratories

    Lady Gaga launches beauty brand Haus Laboratories

    Lady Gaga’s makeup brand “Haus Laboratories” will be available for pre-order on July 15.

    The beauty brand is also the first to be sold exclusively on Amazon, according to Business of Fashion.

    Lip gloss will retail for US$16, and makeup kits for US$49.

    Haus Laboratories was unveiled in a video released this week, narrated by Lady Gaga, and featuring her and other models seemingly wearing makeup from the brand.

    The singer said she “never felt beautiful” when she was younger, and “struggled to find a sense of both inner and outer beauty”. However, she eventually “discovered the power of makeup.”

    “I remember watching my mother put her makeup on every morning, basking in the glow of her power to put on her bravest face as the hard working woman she was,” Gaga wrote on Instagram.

    “I then began to experiment with makeup as a way to make my dreams of being as strong as my mother become true.”

    “Sometimes beauty doesn’t come naturally from within. But I’m so grateful that makeup inspired a bravery in me I didn’t know I had.” she wrote.

    “They say beauty is in the eye of the beholder, but at Haus Laboratories, we say beauty is how you see yourself,” she continued.

  • Amorepacific opens Sulwhasoo Universe at Hainan

    Amorepacific opens Sulwhasoo Universe at Hainan

    Korean beauty firm Amorepacific has launched a new pop-up store, “Sulwhasoo Universe”.

    The firm hosted an event at the China Duty Free Group (CDFG) Sanya International Duty-Free Shopping Complex – the world’s largest duty-free store – to celebrate the opening on July 6. The event also served to mark with the 40th year anniversary of CDFG.

    Sulwhasoo Universe is a global pop-up store campaign to mark the launch of the Sulwhasoo First Care Activating Serum EX “Star Collection”. The brand opened its first pop-up store in Korea on May 15, following it up with a string of other stores in eleven major cities around the world.

    Open until July 31, the Sulwhasoo Universe pop-up store presents content based on an observatory-inspired concept to deliver a brand story behind the serum, a signature Sulwhasoo product.

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  • Sephora Takashimaya reopens with a gold-member concierge service

    Sephora Takashimaya reopens with a gold-member concierge service

    Sephora Takashimaya has reopened after a two-month renovation with a concierge service for gold members.

    The beauty retailer’s new store has also elevated its in-store experience by integrating both technology and more of a human touch.

    Touted as “the store that spoils you”, the outlet offers Sephora Singapore’s newest brands and product lines. Jo Malone London, Aerin, Miller Harris and Loewe will be exclusively available at Sephora Takashimaya.

    A new fragrance discovery bar offers a curation of both niche and popular scents for perfume lovers.

    Personalised consultations are available at the six-seater beauty studio, using the retailer’s unique Skincredible app. Combining a survey and a skin scan, the consultation service curates product recommendations for shoppers.

    However, the biggest innovation a Gold Member Concierge service, for the top tier of Sephora Takashimaya’s loyalty program members (those who spend more than S$1500 annually).

    The personal-shopper experience can be booked online and begins the moment customers step into the store.

    The 60-minute session starts with a welcoming drink, hand towels and hand massage treatment, followed by free hair and makeup touch-ups, and an analysis of skin health. A guided shopping spree follows, before customers can skip checkout queues using a dedicated Gold members facility.

    The service ends with the customer’s shopping bags carried to their car.

  • Levi Strauss Asia sales Books good Sales Numbers

    Levi Strauss Asia sales Books good Sales Numbers

    Levi Strauss Asia sales grew 12 per cent in the second quarter (on a constant-currency basis) with strong performance across both wholesale and direct-to-consumer channels.

    Globally, the denim-led lifestyle-fashion retailer achieved 9-per-cent growth on a constant-currency basis, however second-quarter income fell by US$49 million, largely due to $29 million in costs relating to the company’s IPO.

    Gross profit for the second quarter rose 4 per cent to $700 million.

    “Our second quarter and first half results reflect the continued strength of our diversified business model as we delivered broad-based growth across all brands, regions and key product categories despite a challenging retail and macroeconomic environment,” said Levi Strauss & Co president and CEO Chip Bergh.

    “For both periods, the Levi’s brand grew in all three regions across men’s, women’s, tops and bottoms and maintained its position at the centre of culture through iconic products and consumer experiences.”

    In Asia, revenue growth was broad-based across the region’s markets. The region’s operating income grew 4 per cent on a reported basis and 15 per cent on a constant-currency basis, reflecting higher revenues partially offset by a decline in gross margin and higher direct-to-consumer costs.

    Globally, sales by the company’s direct-to-consumer business grew by 9 per cent in the second quarter, primarily due to performance and expansion of the retail network and e-commerce growth. The company had 78 more company-operated stores at the end of the second quarter of this year than it did 12 months earlier. The company’s wholesale business grew reported revenues by 3 per cent, reflecting growth in all the regions.

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  • New Tiffany Philippines store opened

    New Tiffany Philippines store opened

    American luxury jewellery and specialty retailer Tiffany & Co will open a new freestanding boutique at Greenbelt 4 in Makati City, the Philippines tomorrow, July 12.

    The coming launch was featured in Lifestyle online magazine for its understated luxurious design inspired by the New York flagship, featuring “off-white and pale gray walls and lone chandelier floating above the main glass-and-chrome vitrine at the centre, which displays the key collections … Satellite vitrines on either side showcase the high jewellery pieces, available in the Philippines for the first time.”

    While the firm has had a presence in the Philippines for many years at Rustan’s stores, the new boutique will showcase a broader selection of the firm’s jewellery.

    “At Rustan’s, they could do only mostly silver jewelry and engagement rings,” said Tiffany’s country manager Mario Katigbak. “When I came in, we found that there is a market for Tiffany high jewellery.

    “Unlike other brands where it’s the design that’s selling, at Tiffany, it’s the stones. The market is very ready. It’s more sophisticated and ready to appreciate the quality of the stones, more than just the design. Tiffany does its own cutting, and it’s very important for them where the stones are mined. It’s an evolution to a higher level of jewellery.”

    Tiffany’s diamonds are laser-etched with a microscopic serial number to help identify their quality and point of origin.

  • Versace China opens Beijing flagship Store

    Versace China opens Beijing flagship Store

    Versace China’s new flagship has opened in Beijing as part of a concerted plan by the fashion label’s new owners to expand its footprint globally.

    Launching in Beijing’s China World Mall to bring its store network to 53 outlets, the more than 4300sqft two-level boutique features a marble-based store design overseen by French architect Gwenael Nicolas.

    “The LEED-certified boutique has been created with the highest sustainability standards in mind,” said a statement released by the firm. “Dimmable lights with central control have been installed to ensure efficient use of energy over the course of the day.”

    “There’s no bigger luxury than our future. The new Versace China concept is a commitment toward Versace’s sustainable legacy,” said designer Donatella Versace”

    Capri Holdings, which also owns Michael Kors and Jimmy Choo, bought Versace from Donatella Versace late last year for US$2.2 billion. It is now implementing a plan to double the label’s worldwide sales with at least 112 new stores scheduled by 2022 along with a refurbishment program for the existing network. The new Beijing store is a key step in that plan.

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  • Net-A-Porter targets high end with EIP Prive

    Net-A-Porter targets high end with EIP Prive

    Net-A-Porter will this month launch EIP Prive, an invitation-only luxury digital destination for its most loyal customers to discover the world’s most sought-after high jewelry and watches.

    The company describes the new services as taking the experience of a private jewelry salon into the digital realm. It will be offered to customers in more than 170 countries, including across Asia.

    “The private and personalized online space will offer the ultimate immersive and interactive experience for traditionally offline and highly renowned jewelry maisons,” the company said. Boehmer et Bassenge, Piaget, Boghossian, Bayco, Nadia Morgenthaler and Giampiero Bodino will be the first brands featured on EIP Prive.

    The service will include access to a dedicated personal shopper who will help EIPs (Extremely Important People) select from the curated collection.

    “Building on the success of our Fine Jewelry & Watch suite, we are delighted to introduce a special collection of exquisite, high jewelry pieces at Net-A-Porter,” said Alison Loehnis, president at Net-A-Porter and Mr Porter. “EIP Prive will offer clients a truly unique opportunity to discover the world’s most exclusive high jewelry maisons through a highly personalized, invitation-only service.”

    Along with private viewings of the newest standout, rare jewels and exclusive collections, EIP Prive customers will have access to personalised services including customization, bespoke requests and sourcing incredible, one-of-a-kind pieces.

    EIP Prive will launch as an invitation-only service in July, with further expansions into watches and men’s planned for late 2019, further establishing Net-A-Porter and Mr Porter as the go-to authorities in the high jewelry and watch space.

    Net-A-Porter says its personal shoppers will receive diamond and gemstone education from the Gemological Institute of America.

  • Moda Operandi launches Store in China

    Moda Operandi launches Store in China

    Fashion-discovery platform Moda Operandi has appointed Ming Yang as the firm’s new MD for China.

    While Moda Operandi has served the Chinese customer for years, Ming’s appointment represents Moda’s official entry into the region. She will build a strategy, operations, marketing, and personal styling programs from Shanghai.

    “Ming’s experience successfully shaping major US and UK-based retail brands to fit the needs of the Chinese luxury consumer is unparalleled,” said CEO of Moda Operandi Ganesh Srivats. “At Moda, we’re committed to becoming part of the local fabric in China, building our China operation from the ground-up, and ultimately being the pre-eminent luxury fashion platform for Chinese consumers. Ming has just the experience to get us there.”

    Ming will be Moda Operandi’s first employee in China, growing the company’s Shanghai team and overseeing all of Moda Operandi’s business strategy and operations in Mainland China.

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  • Dickson Concepts reveals Hilfiger business deal

    Dickson Concepts reveals Hilfiger business deal

    Dickson Concepts has revealed details of the termination of its licence to sell Tommy Hilfiger products in Hong Kong, Macau, Taiwan, Singapore and Malaysia.

    The move, announced in March, is party of an international plan by Tommy Hilfiger’s parent PVH Corp to regain direct control of the brand in markets where it previously worked through third parties, like Dickson Concepts.

    The termination of the licence took effect on Monday of this week and resulted in PVH paying Dickson Concepts US$52.6 million, being the estimated terminal payment of $63.8 million less a deducted aggregate escrow of $11.2 million.

    PVH Corp, which also counts Calvin Klein, Van Heusen, Izod, Arrow, Warner’s, Olga and Geoffrey Beene in its portfolio, said the deal is in line with the company’s strategy of gaining more direct control over its brands.

    “This transaction demonstrates our commitment to making strategic investments to support the long term growth of PVH and our Tommy Hilfiger business, while leveraging our well-established infrastructure, our leadership expertise and strong brand momentum across both our Tommy Hilfiger and Calvin Klein businesses in the region,” said Emanuel Chirico, PVH Corp’s chairman and CEO at the time the move was announced.

    Dickson Concepts chairman and founder Dickson Poon in a stock exchange filing that the group “will continue the development of its other luxury brand name businesses and actively seek new investment opportunities to diversify and broaden its earnings base”.

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