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.

  • TUMI reopens at Harbour City in HK

    TUMI reopens at Harbour City in HK

    TUMI, the leading name in premium travel, business and lifestyle accessories, re-opens its Harbour City store in Tsim Sha Tsui to unveil a new store redesign.

    The recently refurbished 990 square feet space features multiple enhancements including a new seating area and upgraded digital touchpoints for customers to enjoy.

    To celebrate the TUMI store re-opening at this iconic retail destination, TUMI is also pleased to announce the prelaunch of two highly-anticipated assortments at Harbour City for a limited time only.

    Earlier this year, we had met Adam Hershman, TUMI Mainland China, Hong Kong & Macau General Manager to aks him about his plans to enhance offline customer experience.

    We have recently done some big things in Hong Kong to offer customers an exceptional TUMI experience. We renovated two stores in ifc mall and Pacific Place and opened a new boutique at Elements in September 2017. All of these stores have been upgraded with our Madison Store concept. This concept was developed by award-winning designer and architect Dror Benshetrit for TUMI’s flagship store on Madison Avenue in New York and has now been rolled out at select locations worldwide,” he explained.

    “The concept helps make our stores the right canvas to tell the TUMI story with a premium, sophisticated environment. The stores are brightened up so that the products really stand out on their displays. The store also seamlessly incorporates digital technologies, like touchscreen and video displays. With our monogram booth, we can also customize products on the spot for another interactive touchpoint,” he continued.

  • Missoni bought by Italian firm

    Missoni bought by Italian firm

    The Missoni family has relinquished its hold on maintaining full ownership if its namesake Italian label, confirming that FSI Mid-Market Growth Equity Fund will take a minority holding in the brand.

    Coinciding with the kick-start of Milan fashion week for men last week, the Italian government-backed firm has acquired a 41.2% stake. The Missoni family will continue to have a majority hold with 58.8% of the shares.

    The operation sees a capital increase, worth 70 million euros, and no financial debt for Missoni. The funds are a welcomed boost for the brand, with plans to use the cash to fuel international expansion, product development and retail overhauls in key markets such as China.

    Managerially, Michele Norsa, industrial partner of FSI, will become vice president of Missoni. Angela Missoni will hold the role of president and while Missoni matriarch Rosita retain the title of honorary president.

    “Our goal was to leave a healthy company in the hands of the third generation,” said Angela Missoni, who is also the brand’s creative director.

    FSI is controlled by Italian state lender Cassa Depositi e Prestiti, which is majority-owned by the Treasury. It is the fund’s first investment in the fashion sector.

    In 2016, the company’s most recent annual figure, Missoni reported consolidated sales of 63.4 million euros, with licenses making up 10.9 million euros of total sales.

    Exports accounted for 74 percent of sales. The company, known for its mult-coloured prints, counted five boutiques in Italy and six outside the country, as well as two outlets in Italy.

  • Urban fashion concept at Macau’s City of Dreams

    Urban fashion concept at Macau’s City of Dreams

    Luxury retailer DFS Group has launched a new multi-brand concept store World Design Space at T Galleria by DFS at Macau’s City of Dreams.

    The store introduces emerging international brands in a technologically enhanced shopping environment that features more than 50 visual and audible screens. It targets consumers seeking broad selections of street and urban fashion wear and accessories, including ready-to-wear, designer bags, footwear, children’s clothing and toys, jewellery and accessories.

    Nelson Mui, DFS VP of global fashion merchandising and trends, said the assortment at World Design Space includes over 35 new and emerging adult and children’s fashion brands from international design houses from Sweden, France and the UK, many of which are exclusive to DFS and in the region.

    “We curated the assortment from the world’s top showrooms to delight our customers while drawing a new generation seeking a youthful and fresh experience,” he said.

    World Design Space is located to connect DFS’s Beauty boutiques and the Fashion Arc at the mall’s Estrada do Istmo entrance.

    View the gallery of the new concept and the launching event below  (7 images) :

  • Bottega Veneta appoints British designer Daniel Lee

    Bottega Veneta appoints British designer Daniel Lee

    A new high luxury designer reshuffle brings some interesting aesthetic food for thought. Bottega Veneta, the quiet power of Italian stealth wealth, has appointed Daniel Lee, a 32 year old British graduate of Central St Martins, to replace its outgoing creative director of 17 years, Tomas Maier.

    Mulberry poached her head of accessories Johnny Coca to become its creative director in 2015. Lee, following Philo’s departure will have been out of a job. Her successor, the opinion dividing Hedi Slimane, is busy ripping out everything from her ten year legacy down to the patchwork marble floors (a special Philo commission featuring 12 varieties of marble sourced from Brazil, France and Italy) in the HQ and stores. The Philo vision for Céline is dead, something which her acolytes have been mourning.Lee on paper seems a shrewd choice. He was until recently the Director of ready to wear at Céline, latterly helmed by Phoebe Philo. Under Philo’s exacting steer, Céline assumed its role as the ultimate destination for the woman who lusted after a kind of intellectual design rooted in a nuanced evolution of minimalism. Her team were renowned in the industry for their talent.

    Enter Lee. Bottega is perhaps the natural successor to an evolution of the Philo style. Its tagline “When your own initials are enough” underlines its position as a home of understated, exclusive craft. Maier’s elegant, grown up collections riffed off this, explaining to the Telegraph in 2016 that he designs “for women not 16 year olds.” He marked the brand’s 50th anniversary in 2016 by inviting Lauren Hutton onto the catwalk, styling her in a re-imagined version of the trench coat and red intrecciato clutch bag she wore in American Gigolo.

    Lee will of course have his own ideas, in the statement announcing his tenure he said that “I look forward to evolving what has gone before, while contributing a new perspective and modernity”.

    Kering, the luxury conglomerate that owns Bottega Veneta, has form in making shrewdly successful quiet appointments. Since enduring the high stakes of installing Hedi Slimane at Saint Laurent (he left the house in 2016, later receiving £8million in a lawsuit over intellectual property rights and contractual obligations) Kering has avoided courting more high maintenance names. They replaced Slimane with Anthony Vaccarello, who had form but little ego.

    When they promoted second in design-command at Gucci, Alessandro Michele – then unknown – in 2015, they scored a blinder. Michele has turned it into the hottest designer property, bringing in an approximated global revenue of 6.2 billion euros in 2017 – which accounts for over half of Kering’s overall revenue (reported as 10.823 billion euros in that year). Bottega Veneta reportedly brought in 1.18 billion euros in 2017, not a small amount, but something which they will likely be hoping to expand upon.

    Their policy of installing more low key names is the opposite strategy to rival LVMH which has embarked on a recent hiring spree of star designers, moving Kim Jones to head up Dior menswear, whilst installing sportswear supremo Virgil Abloh in his stead at Louis Vuitton menswear. The ping pong exchange of talent between the two groups has fuelled the ongoing game of industry musical chairs.

    A note of warning though to Lee, in an interview with ES magazine this week, Jones underlined the all consuming nature of these leading roles. “It’s a fantastic life and there’s lots of money to be made at the top, but there is also a vast amount of pressure. It can be all-consuming. You don’t have time for a life really, not at the level I now work. It can be very isolating. And you have to be prepared, sometimes, to sacrifice everything for it. I had to make that choice.”

    Lee worked at Philo’s atelier which was based in London. Tomas Maier was largely based in Florida, travelling to New York and Milan when required. What freedom of address Lee will be able to command remains to be seen. But, certainly at his first show in September, the expectation will be high. Let’s hope he’s ready for it.

  • Adidas Originals launches new Personalisation System

    Adidas Originals launches new Personalisation System

    Adidas Originals has launched its newest silhouette ‘Point of Deflection System’, which allows customers to create their own sneakers.

    Inspired by Adidas’ iconic 90s ‘POD System’ technology and engineered with a podular sole unit, the new silhouette is built to create natural motion, flexibility and comfort.

    To celebrate the launch, global creators including Cali Thornhill DeWitt, DJ Clark Kent and Victor Ma were invited to the PODS Maker Lab in London’s Shoreditch neighbourhood.

    With assistance from Adidas Originals creators including Pharrell Williams, guests created their one-of-a-kind pair of shoes in a full footwear experience by mixing and matching PODS components with classic Originals elements.

    At night, musicians such as Migos, Suspect OTB and DJ Benji B, brought live performances.

    The POD System is available globally both online and offline at Adidas Originals.

  • New Look about to Quit China

    New Look about to Quit China

    Struggling UK fashion retailer New Look is set to cull its China store network.

    Weeks after signing a Company Voluntary Arrangement with its creditors and landlords in the UK – a plan which will see it close 60 stores – chairman Alistair McGeorge has cast doubt on the future of the ambitious China plans announced by former CEO Anders Kristiansen.

    “We are taking a view on all our stores,” he told the Press Association in the UK. “We are taking a good hard look, and we will probably do some downsizing.”

    So far, New Look has opened 148 stores across China, barely one third of its target. The stores are company owned rather than franchised as many international retailers choose to in China. It did not open any in Hong Kong or Macau.

    In the year to March 24, New Look recorded a loss of £74.3 million (US$98.4 million; HK$772.6 million) after a £97.6 million profit the previous year.

    Besides store closures, McGeorge is planning to reduce prices and broaden its target market from the millennials it was targeting under Kristiansen.

  • Zara owner hits another revenue record

    Zara owner hits another revenue record

    Inditex Group announced a new first quarter record revenue of €5.7 billion, driven by flagship brand Zara.

    This marks a 2 per cent increase in net sales growth, up from €5.6 billion in the first quarter of 2017, which was underpinned by solid business performance and same-store sales growth across all geographies.

    Gross margin rose to 58.9 per cent, a 3 per cent increase year over year.

    Inditex’s chairman and CEO, Pablo Isla, noted that “the strength of the integrated store and online model, bolstered by continued innovation, is driving solid growth and notable job creation.”

    During this period, the Group continued to push its ‘integrated store model’, with many stores receiving refurbishments and expansions to bring them up to date, while launching online sales in Australia and New Zealand.

    Zara launched its first stores in Buffalo, New York and Murray, Utah in the United States, as well as in Pune, India, while bringing its augmented reality technology, ZaraAR, to 130 flagships globally.

    ZaraAR allows customers to use their phones to view AR models wearing Zara outfits either by holding the app up to a sensor within stores, or over online delivery packaging, offering a chance to easily preview what the clothes look like in motion.

    As a part of its Employee Profitsharing Plan, Inditex distributed €42 million among 88000 employees.

    The plan rewards employees with at least two years service in its stores, manufacturing facilities, logistics platforms, brands and subsidiaries, and commits to pay out 10 per cent of the annual growth in new profit.

    Competitor H&M Group will publish its six-month report for 2018 on 28 June.

  • H&M sales stagnates due to record inventory

    H&M sales stagnates due to record inventory

    H&M sales worldwide – in local currencies – stagnated in the second quarter, reaching SEK 51.98 billion (US$5.88 billion).

    The poor figure was achieved despite a net increase of 303 stores between May 31 this year and the same time last year, taking the network to 4801.

    H&M was carrying record levels of inventory estimated at US$4 billion at the end of the first quarter and had to resort to discounting in the second quarter to shift stock.

    Analysts were unimpressed by the figure. “It’s worrying,” Magnus Raman, an analyst at Handelsbanken told Bloomberg. He estimated the fall in like-for-like sales over the past year at 6.8 per cent.

    “The consensus estimate was already at very low levels and still the company doesn’t manage to meet them.”

    “H&M is undertaking a series of turnaround initiatives,” said a Barclays analyst. “Although many of these sound sensible in the longer term, we think they will take time to materialise and continue to view the next 12 months as challenging.”

  • Falke Ergonomic makes debut in Fysical stores in IFC Mall

    Falke Ergonomic makes debut in Fysical stores in IFC Mall

    Falke Ergonomic Sport Systems has opened its first Hong Kong store in IFC Mall in Central.

    With a “breathtaking backdrop”, according to the sportswear brand, the store offers 54sqm of high-end shopping.

    Falke says its collection includes a mix of functionality and subtle elegance, with playful cuts in combination with curated colour combinations.

  • Off-White heading for more Manila stores

    Off-White heading for more Manila stores

    After the opening of designer Virgil Abloh’s store in Vancouver, Off-White has finally announced its next location will be Manila in the Philippines.

    It will be the first Off-White retail store to open in Asia for four years.

    An official announcement via Instagram shows August 1 as the date for the probable opening. The store will be in Hidalgo Drive, Makati City.

  • Former Billabong chief bags top job at Gap

    Former Billabong chief bags top job at Gap

    Former Billabong International chief executive Neil Fiske has landed a new job steering the ship for Gap Inc.’s struggling namesake brand.

    After spending almost five years trying to flip the fortunes of Billabong prior to its acquisition by Boardriders earlier this year Fiske will again be responsible for a disrupted retail business.

    As the president and CEO of Gap brand he will be responsible for charting the future of the beleaguered business, which has struggled to gain traction with younger generation shoppers.

    Gap’s global same-store sales fell four per cent in the first quarter, weighing on parent Gap Inc., which also owns the Banana Republic and Old Navy brands.

    In Australia Gap has also been struggling, having been cut by accessories retailer Oroton Group before its collapse last year due to its irrelevance with local customers.

    Gap Inc. president and CEO Art Peck said he believed Fiske was the right leader to strengthen the brand.

    “Neil brings significant retail and apparel experience to Gap Inc. and a track record of transforming and repositioning brands,” said Peck.

    “He is an experienced leader who deeply understands the mechanics of this business, the value of an omnichannel strategy, and the need to build a progressive and relevant brand.”

    Fiske departed Billabong earlier this year in a leadership reshuffle brought on by Boardriders’ acquisition.

    During his time at the business, Fiske, who bills himself as a turnaround specialist, embarked on a revitalisation strategy for the action sports group that involved tightening merchandise disciplines and closing underperforming stores.

    Fiske said in a statement that Gap has made some progress on its turnaround journey already, and that he was excited about the opportunities ahead of the business.

    “The brand has made some important progress and I look forward to working with the team to drive improved performance, operational excellence, great merchandising, and distinctive and powerful marketing,” he said.

    Prior to Billabong Fiske also held roles leading Eddie Bauer and Bath and Body works.

  • Mon Purse Launches New Retail Strategy

    Mon Purse Launches New Retail Strategy

    Design-your-own handbag business Mon Purse is revamping its bricks-and-mortar presence in the US market.

    After a much-publicised expansion to America through a deal with Bloomingdale’s in November 2016, the Australian e-commerce company has pulled out of the upmarket department store chain, and is gearing up to launch its first standalone store in New York City in a matter of weeks.

    Mon Purse last year opened a store at a mall in New Jersey, which was billed as the company’s first standalone store in the US, according to a press release at the time. But COO Andrew Shub said the store was actually a pop-up. It closed in January.

    Shub refuted the suggestion that Mon Purse has exited the US, although no mention of US stores appeared on the website at the time of this writing.

    The e-commerce company currently lists its concessions in Selfridges in the UK and Myer in Australia, alongside its boutique in Paddington.

    Shub said the company is “evaluating” its strategy in the US, the company’s biggest online market outside Australia, but was not willing to discuss it publicly.

    “It’s not something we want cited for our competitors,” he said, “but we are very much committed to the US market.”

    Shub said Mon Purse is about to open a new store in New York City, which will be listed on the website in the next few weeks.

    He added that the business is committed to its concession model.

    “It’s all part of the strategy as to how one rolls out. I wouldn’t want to create any misconception that we’re not committed to our concession business,” he said.

    The revamp comes two months after Mon Purse founder Lana Hopkins announced her intention to step down as co-CEO and cease running the day-to-day operations of the company. She is still on the board and holds a minority stake in the business.

    Hopkins said she made the difficult decision to step down to pursue other ventures, but according to an April report in the AFR, some shareholders believe she was pushed out. The value of the company has plunged from more than $30 million to $5 million.

    “I cannot share any of those financial details from that point of view,” Shub said.

    “All I can say is that we continue to grow and have very exciting times ahead both from a digital and bricks-and-mortar strategy.”

    Toni Fourie, who was recently named as the new chairman of Mon Purse, is reportedly leading the search for a new CEO.

  • Mulberry Group looking for a JV Parter in Korea

    Mulberry Group looking for a JV Parter in Korea

    Despite a profit decline for its latest year, UK luxury leathergoods company Mulberry Group plans to form a JV to develop its business in South Korea.

    It says it has signed an agreement with SHK Holdings to form Mulberry (Korea) Co. It will own 60 per cent of the new entity and the two companies will invest £4.6 million (US$6.1 million) to buy assets and to develop the business in South Korea.

    Mulberry last year had plans to launch an equal-share JV with another company as well as plans to launch into Hong Kong.

    Meanwhile, for the financial year to March 31, Mulberry made a profit of £6.9 million, down from £7.5 million the year earlier.

    Revenue rose 1 per cent to £169.7 million, it said. Retail sales grew 3 per cent, with UK sales broadly flat and international sales up 20 per cent. Digital sales grew 14 per cent, making up to 17 per cent of group revenue, the company said.

    For current trading, Mulberry says retail like-for-like sales fell 7 per cent in the 10 weeks to June 2 with international sales up 1 per cent. However, UK sales were down 9 per cent because of lower footfall.

  • Guess Jeans taking Farmers Market bigger

    Guess Jeans taking Farmers Market bigger

    Guess Jeans is expanding its Farmers Market concept to global stores until the end of next month.

    Created by Guess and vintage streetwear collector Sean Wotherspoon, the collection features reworked items from the Guess archives developed in the ’80s and ’90s, with a colour palette derived from the Californian landscape.

    Key pieces include hoodies, denim jackets and tracksuits, with original Guess graphics featuring the classic logo on T-shirts and accessories.

    Launched in central Los Angeles last month, the limited-edition merchandise are available through key retailers and pop-up stores. In Asia, expect pop-up stores in Singapore’s Dover Street Market, Tokyo’s GR8 and Hong Kong’s Juice. Items can also be bought through the Chinese Innersect App.