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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.

  • Richemont to buy Buccellati from Chinese owner

    Richemont to buy Buccellati from Chinese owner

    Richemont group is in talks to buy Italian jewellery brand Buccellati from its new Chinese owner, according to reports from the Italian press this week. The italian press has reported the Milanese brand was being negotiated for sale with Richemont.

    The deal had apparently hit problems due to restrictions from the Chinese government regarding investments from overseas.

    Qatari investment vehicle Mayhoola was also interested.

    Bank of America Merrill Lynch was reportedly working on the sale.

    China’s Gansu Gangtai acquired Buccellati from its previous owners Clessidra in 2017, for a reported 270 million euros ($313 million), including debt.

    The news follows reports earlier in the year that Gansu Gantai planned to invest some 200 million euros to develop Buccellati.

    Richemont, which owns Cartier, among other jewellery and watch brands, was previously in talks with former Buccellati owner Clessidra, in 2016 to purchase the high-end jewellery brand.

    Both Richemont and Gansu Gangtai declined commentary on the matter.

    Founded in 1919 by the Buccellati family, the Italian jeweller was sold in 2013 to Italian investment fund Clessidra.

    In August 2017, Chinese group Gansu Gangtai Holding acquired an 85% stake.

    It has opened six stores in China alone this year, with a Beijing flagship store slated to open this month.

    Buccellati currently operates 49 namesake retail outlets between stores, retail corners and shops-in-shop, and is also distributed via 150 multi-brand retailers.

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  • Vogue Magazine makes debut in Hong Kong

    Vogue Magazine makes debut in Hong Kong

    International lifestyle magazine publisher Condé Nast has confirmed it’s entry into the Hong Kong market. It will launch a local edition of fashion bible Vogue, which is set to debut in spring 2019. Vogue Hong Kong will be the 26th edition of the glossy publication and will be published under a licensing agreement with Rubicon Media.

    Desiree Au has been appointed publisher of Vogue Hong Kong, whose fashion and lifestyle content will be distributed in print, online and on social media.

    The print edition of the magazine will be published in traditional Chinese, while its website will be bilingual (Chinese and English).

    This is not Condé Nast International’s first foray into Southeast Asia.

    In 2013 the company launched Vogue Thailand in partnership with Serendipity Media and, unbeknown to many, also started a Singapore edition of Vogue in 1994 before shutting down the title in January 1997.

    Hong Kong is a relatively mature market, especially when it comes to women’s fashion publishing.

    Just this year, Harper’s Bazaar Hong Kong celebrated its 30th anniversary (Elle Hong Kong reached that milestone in 2017 and Cosmopolitan Hong Kong in 2014), while Marie Claire has been around since 1990.

    This makes Vogue a latecomer to the city’s fashion and lifestyle publishing industry, but Markus Grindel, managing director of brand licensing at Condé Nast International in London, says that Hong Kong is big enough to sustain its own edition of Vogue, not only because of the size of its advertising and luxury business but most importantly because it has a highly educated demographic interested in reading a magazine such as Vogue.

    “Hong Kong has a very rich culture, and with Art Basel and a long history in fashion, it combines to create a very sophisticated reader,” he says. “That for us is the measurement that says that a market is ready for us.”

    In the past three years, Condé Nast International has entered emerging markets such as the Middle East, where it launched Vogue Arabia in 2016, and Eastern Europe, where it debuted Vogue Poland and Vogue Czech Republic and Slovakia earlier this year, all under licence.

    While Condé Nast International is ramping up its expansion plans around the world, Condé Nast in the United States has been grappling with significant challenges in recent years, shuttering print titles such as Gourmet in 2009 and, early this year, Teen Vogue (Teen Vogue still exists online); making repeated rounds of lay-offs; putting magazines such as W and Brides up for sale; and reducing the frequency of key publications such as GQ, Architectural Digest and Condé Nast Traveler. The latter will merge next year with Condé Nast Traveller, the UK version.

    This last development is the beginning of a global consolidation plan for the company, which until now has operated as two separate entities, one based in New York and the other in London, operating all the international titles.

    Grindel says that there’s bound to be some sharing of content between Vogue Hong Kong and its sister editions around the world, such as Vogue China, but he also emphasises the individual nature of each edition of Vogue.

    As for whether Condé Nast will expand further in the region – Singapore is said to be in the publisher’s sights – Grindel says the company likes to take a wait-and-see approach to new launches, especially when it comes to Vogue, its flagship title.

    Neither Condé Nast nor Au was able to elaborate on editorial appointments, which suggests that key positions have yet to be filled. While Au is said to have approached candidates from international publications in countries such as China, one name that has been bandied about for the coveted role of editor in chief is that of veteran journalist Peter Wong, formerly of Hong Kong Economic Journal and most recently the founder and editor of Magazine P.

    Meanwhile, Condé Nast has been acting to stay up to date with the growing roel taken by social media influencers.

    Condé Nast Italia has debuted the Social Talent Agency, a new agency focused on developing influencers.

    To start, the agency has enlisted 27 Italian and international influencers who span fashion, modeling, beauty, sport, travel and automotive.

    Some members previously participated in the Condé Nast Social Academy, a partnership between L’Oreal Italia’s luxury division and supported by Milan’s SDA Bocconi School of Management.

    Riccardo Pozzoli, serial entrepreneur and co-founder of TheBlondeSalad, is a Condé Nast Social Academy coach and will serve as the creative director of the newly formed agency.

  • Coach & Kate Spade power Tapestry sales

    Coach & Kate Spade power Tapestry sales

    One year into its major push to become an American luxury conglomerate, things appear to be moving in the right direction at Tapestry, which recently posted first-quarter results that topped expectations across the board. The firm — parent of Coach, Kate Spade and Stuart Weitzman — said its Q1 sales advanced 7 percent to $1.38 billion, driven mostly by the flagship Coach brand but also helped by Kate Spade, which it acquired in 2017.

    “Results were driven by continued growth at Coach, where global comparable store sales rose 4 percent, led by outperformance in digital, and reflected our compelling offering across categories and channels,” said Tapestry CEO Victor Luis. “Kate Spade contributed to our overall performance, as we made continued progress on our integration efforts, including the realization of synergies and the execution of strategic initiatives.”

    Trends at Stuart Weitzman, improved from the prior quarter, according to Luis, but results continued to be negatively impacted by development and delivery delays, which pressured sales and margins.

    “Production levels and shipments have now stabilized, reflecting the investment in talent and processes, as well as added manufacturing capacity. As a result, we remain on track to achieve profitable sales growth in the holiday quarter,” Luis added.

    Overall, the company reversed the prior year’s losses, posting profits of $122 million, or 42 cents per diluted share. Adjusted profits were $142 million, or 48 cents per share, topping analysts’ bets for 45 cents per share.

    By brand, net sales at Coach rose 4 percent to $961 million, Kate Spade’s sales surged 21 percent to $325 million, and Stuart Weitzman fell 1 percent to $95 million.

    “Our first-quarter performance and progress on our strategic priorities to date give us confidence in our ability to achieve the goals we’ve set out for fiscal 2019,” said Luis.

    “We continue to expect to deliver strong revenue and operating income growth, while making investments to support our long-term vision and drive a return to both double-digit operating income and earnings-per-share growth in fiscal 2020.”

    To that end, the firm lifted its profit outlook for the fiscal year and now projects earnings per diluted share in the range of $2.75 to $2.80, compared with the previous range of $2.70 to $2.80. It continues to expect revenues to increase at a mid-single-digit rate to $6.1 billion to $6.2 billion.

     

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  • Karl Lagerfeld x Mood by Christofle

    Karl Lagerfeld x Mood by Christofle

    Karl Lagerfeld has collaborated with Christofle, the luxury Parisian silversmith, on an exclusive edition of the “MOOD” flatware set and decorative case. Taking inspiration from the Art Deco movement, Karl — himself a long-time connoisseur of Christofle — designed a striking, symmetrical pattern of graphic lines to appear on the elliptical egg shape.

    There are two versions that have been created: one in polished silver and one in black, lacquered stainless steel. The sleek MOOD opens to reveal a 24-piece silver-plated cutlery set.

    Each piece is stamped with a subtle linear print, the Christofle hallmark and the iconic Karl Lagerfeld silhouette logo.

    The Mood is Christofle’s most renowned design that reimages the classic codes of table setting; it reflects the brand’s vision for relaxed but refined entertaining.

    The partnership with Karl Lagerfeld marks the first time in Christofle’s 188-year history that it has worked with a fashion brand.

  • Parkson Retail Asia continues drowning

    Parkson Retail Asia continues drowning

    Struggling department store operator Parkson Retail Asia has hinted it may close further stores as it posted yet another loss. For the first quarter of the new trading year, the Singapore headquartered company lost S$11.1 million, a slight improvement on the $12.9 million of a year ago.

    Last full trading year, the company lost $40.1 million for the full year.

    In a statement, the company said it would will continue to prioritise on enhancing product offerings “as well as on optimising both our operational efficiency and network of stores,” suggesting further exits, most likely in Vietnam where it has just five stores remaining from a peak of 10 and continues to lose money.

    Parkson credited the reduced loss on an improved performance of the Malaysian and Indonesian store networks, together with the effect of the closure of seven loss-making stores last financial year.

    Group sales rose 1.7 per cent to $92.6 million.

    On Friday the company announced the immediate resignation of its CFO Chia Cang Yang, with immediate effect. CEO Michael Remsen will oversee financial matters until a replacement is recruited.

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  • Versus to merge into Versace Jeans line

    Versus to merge into Versace Jeans line

    It has only been a month since Versace announced it was to be sold to Michael Kors’ parent company Capri Holdings for a reported sum of 2.12 billion dollars. As an early indicator of change, and perhaps cost-saving measures under its new structuring, Versace is to integrate its Versus line into Versace Jeans.

    Versace Chief Executive Jonathan Akeroyd said “During the last few months we have studied how to simplify our business model with a view to focusing on the portfolio of our brands, continuing to ensure innovation and relevance in everything we do. We decided to integrate our two contemporary collections into one, merging Versus and Versace Jeans. This operation will allow us to further develop Versace Jeans’ proposals and, at the same time, not to lose the DNA and the codes that have made this iconic Versus “.

    The collection was notably absent from the catwalk and fashion week after it decamped to London to show its autumn winter 2018 collection.

    The Versace Jeans label is currently under license to Swinger International, also the licensing partner to brands including Genny and Cavalli Class.

    The unexpected move by Versace is indicative of the transformations and shakeups happening in luxury brand’s diffusion ranges.

    Earlier this week Blufin announced the launch of the new Be Blumarine label that will replace Blugirl; Missoni recently reported Margherita Missoni as the new creative director of its M Missoni diffusion line; Marc Jacobs famously shuttered his Marc by Marc Jacobs stores, integrating the label under a single brand umbrella.

    Donatella Versace will reportedly continue to lead the creative vision for the Versace brand.

    At the time of the acquisition it was reported she would become a shareholder of Capri Holdings, along with her brother and daughter.

  • For Art’s Sake store opens

    For Art’s Sake store opens

    Hot on the heels of For Art’s Sake’s new collection launch is the opening of its first standalone retail store in London’s Covent Garden. Situated in the heart of The Piazza, the store borrows bold design details from the brand’s penchant for eclectic style: think decadent blue velvet furnishingS and brass fixtures that beautifully elevate the statement-making frames.

    The store will incorporate a host of new features, from a selfie station to personal shopping (in five languages: Mandarin, French, Spanish, Italian and English), a concierge option, tax-free shopping, Click and Collect as well as exclusive colourways. To celebrate the launch, For Art’s Sake has collaborated with one of London’s most exciting new design studios – Studio LaPeche – on a window installation that reimagines the most striking features of the London skyline.

    A deliberate avoidance of trend-based silhouettes has led to a rapid pace of growth for For Art’s Sake in a short space of time. On top of Beyoncé and J Lo, For Art’s Sake counts Kristen Bell, Eva Chen, Poppy Delevingne, Olivia Palermo and Aimee Song amongst some of its most devoted fans. The brand can currently be found in over 550 exclusive stockists around the world, including Harvey Nichols, Saks 5th Avenue, Net-A-Porter, Yoox and more, and after the London store opening, they’ll be opening in Shanghai’s XinTianDi Mall. They then plan to open stores in Hong Kong, Miami and New York before 2020.

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  • Tanachira Retail buys out HARNN for $30m

    Tanachira Retail buys out HARNN for $30m

    International fashion and lifestyle brand distributor Tanachira Retail has acquired Thai health and beauty business Harnn. The THB1 billion (US$30.4 million) purchase is part of the firm’s moves to become a regional lifestyle company.

    Tanachira CEO Tanapong Chirapanidchakul said: “We will use our strength and expertise to expand Harnn’s business throughout Asia, with priority markets China, Taiwan and Japan.”

    Harnn products sell at more than 30 branches throughout Thailand and are distributed in 16 countries, predominantly in Asia.

    The acquisition, which covers brands, intellectual property assets, and business networks will help Tanachira to reduce risk from dependence on imported brand revenue. The firm will build brand awareness for Harnn among Thai consumers before building international partnerships with current and new dealers in new international markets, focusing on Asia.

    Tanachira’s CFO Aphichai Pholkosol said: “By 2020, we target Harnn contributing about 25 per cent of our total revenue at THB2.25 billion, helping us to list on the stock exchange in the second half of that year.”

  • Vietnam garment exports surge on US-China trade war

    Vietnam garment exports surge on US-China trade war

    Vietnam’s garment exports are set to rise by 14.8 percent this year to $35 billion, an industry official said on Friday. The expected growth is attributed to the fact that U.S. retailers diversify their product sourcing to keep costs under control amid an escalating trade dispute with China.

    The U.S. has already imposed tariffs on $250 billion worth of Chinese goods, and China has responded with retaliatory duties on $110 billion worth of U.S. goods.

    Garments, Vietnam’s second largest export-earner after smartphones, are not yet subject to U.S. tariffs, although some manufacturers have sought to move at least some production to the Southeast Asian country, anticipating potential penalties.

    “We are seeing more and more orders coming in, especially from the United States,” Vu Duc Giang, chairman of Vietnam Textile & Apparel Association, told Reuters.

    Garment exports to the U.S. rose 12 percent in the January-October period to $10.5 billion, while exports to China surged 40 percent to $1.1 billion, according to a government statement released on Thursday.

    Ngo Quang Thoa, chairman of Swimax International Joint Stock Co, a contractor which produces swimwear and underwear products for U.S. companies such as Target and Express, said he had received a large increase in orders from the U.S. since January.

    “This is because of the trade war between the U.S. and China,” said Thoa, who added that he expected to see his exports to the U.S. increase by up to 20 percent by the end of the year.

    “Some U.S. clients are already making strategic adjustments to their business plans to diversify their supplies, even though Trump hasn’t targeted Chinese garments in the tariff war yet,” he said.

    Vietnam is home to over 6,000 textile and garment factories which employ around three million people, Thursday’s government statement said.

    Giang, chairman of Vietnam Textile & Apparel Association, told Reuters those figures were likely to grow, thanks to a plethora of Vietnamese free-trade agreements, and not just because of the U.S.-China trade spat.

    Vietnam has signed around a dozen free-trade agreements that will remove or reduce taxes on several imports and exports.

    Foreign investors poured in $2 billion in Vietnam’s garment and textile production in the first eight months of this year, Giang said.

    Most investors were from Japan, South Korea, Taiwan and China, he added.

    “They have been upping their investment in Vietnam for years,” said Giang.

  • Victoria’s Secret reveales collaborative capsule with Mary Katrantzou

    Victoria’s Secret reveales collaborative capsule with Mary Katrantzou

    Lingerie brand Victoria’s Secret has announced its newest designer collaboration: Victoria’s Secret x Mary Katrantzou. The collaboration marks the second time that Victoria’s Secret has partnered with a luxury brand to create an exclusive range.

    Katrantzou, a London-based fashion designer dubbed the “Queen of Prints”, has designed an exclusive collection for VS that blends a feminine design aesthetic with the brand’s signature sexy and glamorous style.

    Katrantzou commented: “Everything that Victoria’s Secret creates is about a woman feeling confident and empowered – and also having fun with what she is wearing. This collaboration is going to be bold, fun and playful.”

    Katrantzou has also designed a section for the 2018 Victoria’s Secret Fashion Show. The Victoria’s Secret x Mary Katrantzou capsule collection will feature looks from the runway and will be carried in select Victoria’s Secret stores and on VictoriasSecret.com this holiday season.

  • Tudor Watch starts selling in Japan

    Tudor Watch starts selling in Japan

    Swiss watchmaker Tudor Watch has launched in Japan with a mix of permanent outlets and pop-up stores. The brand started trading on Wednesday in Tokyo and Osaka, and is poised to set up distribution in Nagoya and Sapporo via big-name local retail partners. It is currently riding a wave of popularity in the US and UK, where it has recently relaunched.

    Director of Montres Tudor S.A. Eric Pirson said: “The partners that Tudor selected for this launch are among the most high-profile and prestigious watch retailers in the country. They are offering Tudor a strong presence in their most prominent location. With this presence in the Japanese market, alongside our key openings in the US in 2013, the UK in 2014 and the Korean domestic market earlier this year, Tudor is now truly a global brand that is represented in close to 100 countries worldwide.”

    The launch is well-timed for Tudor’s Rugby World Cup sponsorship in Japan next year, which will serve to raise the brand’s profile in the burgeoning watch market.

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  • Brioni opened second store in HK

    Brioni opened second store in HK

    The Italian brand announced the opening of its second store in Hong Kong. The store is located on level two of the IFC mall at the Central Waterfront. The store interior pays tribute to the brand’s city of origin, Rome, by using Travertine marble. A coloured Italian marble column decorates the store’s entrance and rosewood panels are a reference to a men’s private space.

    The store has dedicated areas for Brioni’s formalwear, leisurewear and accessories.

    To celebrate the opening, Brioni has opened a pop-up exhibition in the oval atrium at the mall. Featuring a 5.5m replica of Michelangelo’s David dressed in a tuxedo, the ‘Masterful Tailoring Meets a Masterpiece’ installation required almost 100 hours of work by a team of specialists led by the brand’s chief master tailor.

    Whilst the bespoke service is a cornerstone of the menswear company’s identity, it also sells ready-to-wear, leather goods, shoes, eyewear and fragrance.

    Brioni’s first store in Hong Kong is located at the Element shopping centre in Kowloon.

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  • Charles & Keith is expanding in Hong Kong

    Charles & Keith is expanding in Hong Kong

    Charles & Keith is the go-to label for accessible designs that are on the cutting edge of fashion. This October, Charles & Keith has expanded its retail reach by opening two new stores in Hong Kong. These stores would be the first to open in the city.

    The new stores are located at Parker House, Central and New Town Plaza, Sha Tin respectively.

    Parker House opened two days ago and it occupies a coveted spot in the prime CBD district while New Town Plaza is a trendy flagship shopping centre that offers an exceptional array of shopping, dining and lifestyle facilities.

    The aesthetics of the new Charles & Keith stores is inspired by the brand’s refined design philosophy and aim at reflecting a sophisticated simplicity.

    To provide customers with a curated experience, each section of the store communicates the different stories of the season.

  • N°21 signs with Lee & Han for South Korean distribution

    N°21 signs with Lee & Han for South Korean distribution

    N°21 has major expansion plans in South Korea. The Italian fashion label designed and led by Alessandro Dell’Acqua has signed a distribution agreement with Lee & Han, a Korean distributor managing a broad portfolio of lifestyle brands, and plans to open 18 stores in the country in the next five years.

    N°21 had already opened a series of retail corners in the country, but it is now stepping up the pace of its growth.

    The first stage of N°21’s expansion strategy was the opening of a flagship store of over 300 square metres, the brand’s largest, in the Cheongdam district of Seoul, a hub for fashion labels.

    The store extends on two levels and showcases N°21’s ready-to-wear, footwear and accessories collections for men and women.

    The store’s interior design replicates that of N°21’s Milan flagship: the chromatic contrast of black and white on the marble floor, the polycarbonate and raw concrete ceilings, and plenty of mirrors, steel and aluminium.

    The store’s façade is entirely black, riffing on that of the label’s Omotesando store in Tokyo and of its new Milanese headquarters.

    The South Korean partner chosen by N°21 to support its expansion the country is a shareholder and licensee of Converse and Kappa, and is very active in the multibrand retail business (with Han Style, Han Style Men, Han Style Kids and Han Style Shoe) and as an exclusive distributor of international fashion labels like Delvaux, Giambattista Valli, Emilio Pucci, Nina Ricci, MSGM, Mr & Mrs Italy, Premiata, and others.

    N°21 is distributed by the Gilmar group in over 600 multibrand stores worldwide, and in Asia it currently operates monobrand stores in Tokyo, Hong Kong and Beijing.

    In 2016, the latest year for which figures are available, N°21 generated a revenue of €52 million, up 117% compared to 2015.

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  • Foot Locker Is Opening First Outlet In Malaysia

    Foot Locker Is Opening First Outlet In Malaysia

    Foot Locker Malaysia is set to open its first store. The American brand’s market-debuting outlet at 1 Utama will stock some exclusive items and collections and is also a regular collaborator with top sneaker brands. It is expected to start trading later this month.

    The Footlocker Malaysia move is part of a broader strategy to open in 40 new global locations. It has recently launched in Singapore and Hong Kong.

    The store’s location is currently under renovation and will open in the mall’s old wing on the ground floor.

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