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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.

  • Billabong’s last day on the Exchange

    Billabong’s last day on the Exchange

    Monday will be Billabong International’s last day of trading on the ASX after the Federal Court approved Quiksilver parent Boardriders Inc’s scheme of arrangement to acquire all of the issued shares in the company.

    The surf wear business will suspend from quotation and the close of trading on April 9, notifying the market that the $1.05 per share Boardriders offer was legally effective on Monday morning.

    Billabong shareholders who hold shares at the record date for the scheme (16 April) are due to receive payment under the scheme on 24 April.

    The Boardriders deal passed its major hurdle late last month when shareholders voted in favour of the scheme, despite a last-minute change to the deal that saw the price increase by 5 cents per share.

    85.87 per cent of shareholders voted in favour of the deal, passing the 75 per cent needed for the acquisition to proceed.

    Not all shareholders were happy with the outcome, with a cloud dropping over the deal around the price in the lead up to the shareholder vote, but in the end Billabong chairman Ian Pollard, a staunch advocate of the proposal, said the business would be left in “good hands”.

    “The outcome of today is that we will see the creation of one of the world’s strongest action sports companies,” Pollard said of the deal late last month.

    “I believe the brand will be in good hands following today’s vote.”

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  • Pop-ups leading way for Dickies Vietnam

    Pop-ups leading way for Dickies Vietnam

    Dickies Vietnam is planning to open its first Ho Chi Minh City flagship store.

    Meanwhile, the American apparel brand is paving the way by opening pop-up stores at Diamond Plaza, Parkson C&T, Parkson Hung Vuong, Parkson Saigon Tourist and Takashimaya from this month through to June.

    Dickies arrived in Vietnam in November under distribution deal between Son Kim Fashion and Williamson-Dickie, with a flagship store being opened at Vincom Royal City in Hanoi.

    The group plans to open 30 Dickies stores in five years.

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  • Fung Group’s Explorium probes future plans

    Fung Group’s Explorium probes future plans

    Fung Group has unveiled a new iteration of its Explorium research centre in Shanghai.

    Dubbed Explorium 2.0, the 23,000sqm mock mall has been converted by the supply-chain specialist company into what it describes as a “value-generating ecosystem for commercial enterprises”.

    In a modern building that occasionally doubles as a meeting and event venue, technology and business-model innovation come together as an experimental platform for developing a full range of consumer products, supply-chain technology and services related to branding and retailing.

    Originally, Explorium – described by Fung Group as a retail “omniplatform lab” – comprised a physical space with an interconnected digital network of services, providing brands and retailers with the chance to observe in real time how customers interact with new technologies, products and environments. This enabled them to gather valuable insights into customer behaviour along the way.

    For 12 months, such retailers as Build-A-Bear Workshop, Gymboree, Hello Kitty, Stride Rite and Toys R Us experimented at Explorium using data-analytics tools supplied by IBM as well as retail technologies from various startups.

    Explorium 2.0 builds on the knowledge gained from Explorium in line with Fung Group’s strategic vision to build the supply chain of the future.

    Rapid prototyping

    Now the platform will act as an incubator for companies whose ideas, innovations and technologies are relevant to the Fung Group’s businesses, allowing for rapid prototyping of new business models, products and retail technologies.

    Explorium 2.0 has a strong focus on collaborative innovation, with such partners as the Beijing Institute of Fashion Technology, Microsoft Accelerator and TechNode, and has a mandate to showcase the capabilities Fung Group has developed over its 111-year history.

    Fung Group says the goal of Explorium 2.0 is to move away from traditional approaches to provide a customer experience that balances content and interaction. The space showcases the full breadth of product categories covered by the group, as well as the retail channels it serves, with an emphasis on importing brands and retail concepts into China. In this sense, Explorium 2.0 serves the supply chain end to end, while Explorium focused on front-end retail.

    The new space features a range of elements:

    • A fabric library for apparel manufacturing, equipped with the latest digital tools offering 3D product rendering and virtual sampling
    • A studio for photographing products, tailored to e-commerce business models, as well as a StyleShoots 3D photography studio for fashion shoots
    • A 3D printing experimentation platform based on the premise that in the future 80 per cent of items will be mass produced with the remaining 20 per cent being customisable
    • A multi-use space, The Maze, for product launches, demonstrations and sample sales
    • Showrooms for Macy’s China, a JV between the US department store and Fung Retailing Group, and Fung Omni, Fung Group’s omnichannel systems provider which helps foreign brands enter the Chinese market.

    These spaces fall within the recurrent themes of the Fung Group and Li & Fung – digitalisation, innovation and speed – and will be open to strategic external collaborations.

    Go-to platform

    The Fung Group’s goal is for Explorium 2.0 to become the go-to platform for retail innovation, connecting with stakeholders globally. Explorium 2.0 has already established partnerships with key players in the innovation and technology ecosystem in China such as the Microsoft Accelerator, GBLab and TechNode. Using the space, these partners will draw on Fung Group’s expertise in supply-chain management, logistics and retail to create synergies for the technology startups in their portfolios, as well as the Chinese ecosystem at large.

    At the same time, the goal is for Explorium to also become a bridge for technology companies entering China, and for Chinese startups ready to venture out into global markets, such as Europe and the US, where the group has distribution capabilities.

    At the opening ceremony for Explorium 2.0, Fung Group chairman Dr Victor K Fung said the unit would play a key role in helping the group chart a course through the  transformation under way in the retail industry. The group expects the future of retail lies in omni-channel, as indicated by moves being made offline by Alibaba and Amazon, as well as moves by traditional brick-and-mortar retailers into the online space.

    Dr Fung highlighted the importance of continuing to invest in technology and innovation to create more value across the entire supply chain, taking advantage of the capabilities of all companies in the group to shape the future of the industry.

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  • Storefront partners with Obsess to create virtual reality stores

    Storefront partners with Obsess to create virtual reality stores

    Storefront is pushing the boundaries of the retail industry by giving brands for the first time ever the opportunity to rent Virtual Reality pop-up stores right on its platform.

    Retailers and e-commerce brands can now launch a virtual, fully customisable store powered by Obsess’ VR technology, featuring their own inventory and choosing any layout, decor and style.

    The ‘Future of Retail’ is retail everywhere, according to Storefront

    Storefront is making retail accessible to anyone in the world by now giving customers a unique selling and buying experience through Virtual Reality, in addition to its current retail space offerings. Now, anyone has the ability to experience a physical store with the ease of online shopping.

    “We see this Virtual Reality pop-up store as creating a new category between e-commerce and a physical retail space. It’s a great in between,” says Joy Fan, Storefront’s CCO.

    Get a taste of (virtual) reality

    With this new partnership with Obsess, brands and retailers can now easily book space through a New York City, Los Angeles, or San Francisco themed virtual store.

    Now with this virtual pop-up store, e-commerce brands can get a branded store environment without the need to invest in a physical space – just yet.

    “Our goal is to bring the visual merchandising and curation of retail stores into online shopping to make it a more guided and enjoyable experience,” explains Obsess founder and CEO Neha Singh.

    By booking this virtual reality experience, brands will be able to increase digital engagement, reduce costs, create more traffic and acquire new data.

    A unique initiative that allows Storefront to open all doors to all ideas.

    About Storefront

    Storefront is the world’s largest marketplace for short-term retail space rental, making it possible for brands to sell their idea anywhere; for space owners to activate their space with a click and for consumers to buy local; globally.

    Storefront’s platform powers more than 10,000 listings, which represent more than 30 millionsqft of retail space. The company offers greater access to spaces in leading retail cities around the world, including Hong Kong, New York, Paris, London, Milan, Amsterdam, Los Angeles and San Francisco.

    Since its launch in 2013, it has helped thousands of brands all over the world, including Google, Samsung, L’Oréal, Everlane, Shopify, Indiegogo; open temporary retail stores.

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  • Fook Tai Holdings seeking to go on the stock exchange

    Fook Tai Holdings seeking to go on the stock exchange

    Jewellery retailer Hong Kong Fook Tai Holdings is seeking an IPO on the growth enterprises market board with the aim of opening more retail stores and improving brand recognition.

    Fook Tai runs seven retail shops under the Fook Tai Jewellery brand in Hong Kong, while also selling products to VIP customers at its office. The company is a wholesaler of products mainly to a few jewellery retailers with stores outside Hong Kong and is a trader of recycled gold products. The company’s products come under three major categories – gold jewelry, platinum, karat gold and silver jewellery, as well as gem-set jewellery for mid- to high-end customers. Those categories accounted for 32.4, 4 and 24.3 per cent of total revenue respectively last year.

    Recycled gold products bought from the public and sold to recycled gold products collector/dealers, who resell them to goldsmiths, generated 39.3 per cent of total revenue.

    All the retail shops of Fook Tai are in residential areas of non-prime districts in Hong Kong, including Tsuen Wan, Jordan, Sham Shui Po, Tseung Kwan O, Sheung Shui and Kwun Tong. Fook Tai believes these locations will help grow a loyal customer base.

    The company intends to grow sales in major shopping and residential areas after going public. It plans to open two street-level shops in North Point and Sheung Shui in June and October respectively this year.

    Fook Tai directors believe the company should broaden its customer base and try to attract mainland customers. The new Sheung Shui store is near the border and is expected to benefit from mainland tourists. Also, North Point’s population includes high-income immigrants from the mainland.

    Fook Tai also plans to refurbish its retail stores after going public, and aims to attract younger buyers.

    Meanwhile, in its IPO prospectus, Fook Tai says its business may be adversely affected by the fluctuation of gold prices, while turnover from retail stores is subject to the risk of decline in the coming years.

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  • Fendi Thailand has launched two pop-up stores in Bangkok

    Fendi Thailand has launched two pop-up stores in Bangkok

    Fendi Thailand has launched two pop-up stores in Bangkok’s Siam Paragon. Its concept is a luxurious reinterpretation of the Roman-style vintage newsstands typical of piazza in the heart of Rome. One kiosk is dedicated to the label’s spring/summer women’s collection while the other puts its focus on the men’s collection. Both outlets feature ready-to-wear, leather goods, small leather goods, accessories and shoes.

    To mark the launch of the pop-ups, Fendi hosted a Roman-inspired cocktail party with special guests including Chontida Asavahame, Mai Davika, Nattarat Nopparuttayaporn, Note Panayangkool, Pasakorn Vanasirikul, Sonya Singha, Sorawis Saengvanich and Violette Wautier.

    Included in the men’s collection are everyday Fendi items including illustrations done by British artist Sue Tilley. Items include a glossy red corkscrew, an antique set of keys, leaky bathroom taps, a plastic rotary telephone and a desk lamp.

    The kiosks will be active until June.

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  • Adidas closes stores and strong focus on online

    Adidas closes stores and strong focus on online

    Global sportswear brand Adidas is shifting its retail model with the times and will look to store closures in coming years alongside an increase in its digital investment.

    In an interview, chief executive Kasper Rorsted, who has overseen a revitalisation in Adidas’ forward looking targets since stepping into the top job in 2016, said that the business would be thinning its portfolio of stores.

    “Our website is the most important store we have in the world,” Rorsted told. “It has priority when we hire [and] when we allocate our resources.”

    Adidas booked a 57 per cent increase in e-commerce sales in 2017, while total revenues increased by 16 per cent to more than $38 billion globally.

    The business hoping to double its e-commerce sales by 2020 to more than $7.3 billion and has been investing heavily in digital initiatives, including the launch of a shopping app last year that received more than 600,000 downloads in less than two months.

    To achieve its goal Rorsted has previously outlined around $1.64 billion in annual capital expenditure over the next few years, up from $1.378 billion in 2017 – with an emphasis on digital and online.

    Adidas has already begun to thin its store portfolio, having already closed around 50 per cent of its owned Reebok stores in the US market.

    There are still more than 2,500 company retail stores around the world though and approximately 13,000 mono branded franchise stores at the end of 2017, with no guidance provided on the extent of coming closures.

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  • Myer shares soar after new reports

    Myer shares soar after new reports

    Myer’s share price has shot up 8.7 per cent in early Friday trading as reports swirl that rival David Jones is considering acquiring the department store.

    Reports this morning in The Australian cite the confidence of market sources that DJs parent Woolworths Holdings is looking seriously at a potential acquisition given Myer’s current market value of around $300 million.

    The South-African based retail business recently booked a $712 million write down on the value of DJs, which it acquired in 2014 for $2.15 billion, but is thought not to have been soured on the prospect of investing additional capital in Australia’s department store sector, given the opportunity to significantly increase its scale.

    But a spokesman for Woolworths Holdings told AAP the rumours were untrue and the company had no plans to buy Myer.

    “These rumours have no basis,” he said.

    “We are not considering an acquisition of Myer and there have been no discussions regarding an acquisition with advisers or between the two companies.”

    Should an offer be made Myer’s largest shareholder Premier Investments, chaired by retail veteran Solomon Lew, could present as a thorn in Woolworths’ side.

    It would not be the first time, Lew held out on the Johannesburg-listed business over its DJs acquisition in 2014, buying up 10 per cent of the company’s shares before the deal, selling at a premium.

    Myer’s share price closed at 35 cents on Thursday evening, but by 11:40 AEST on Friday was trading at 38 cents.

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  • SurfStitch creditors approve the EziBuy deal

    SurfStitch creditors approve the EziBuy deal

    SurfStitch creditors have approved a proposal from EziBuy to take over the embattled surfwear company and either relist or sell it in the next three years, bringing the online retailer’s drawn-out administration to a close on Wednesday.

    Nearly two-thirds of creditors voted in favour of the deed of company arrangement (DOCA) proposed by EziBuy’s parent company, Alceon Group, over a competing offer from SurfStitch non-executive director Abigail Cheadle, which had the support of SurfStitch co-founder Lex Pedersen and general manager Justin Hillberg, as well as several “major shareholders”, according to Cheadle, but not the administrators or other board members.

    Pedersen said the outcome reflected the emotions of the participants, rather than what was in the best interest of stakeholders.

    “Unfortunately I think the process and outcome was a little more emotional than financial. Personalities, long-standing conflicts and conveniences may have tangled the outcome that should have exclusively been what’s best for the true stakeholders, that is the shareholders and staff,” he told.

    The administrators in March recommended creditors approve the EziBuy DOCA, saying it offered a better return to all stakeholders. Cheadle last week sent a revised proposal to shareholders, matching many of the terms of the EziBuy offer and addressing some of the administrators’ concerns about the process of issuing shares.

    However, the administrators on Tuesday reiterated their support for the EziBuy deal and said creditors would need to issue a new appointment of proxy to vote for the second Cheadle DOCA.

    Cheadle lodged another enhanced proposal an hour before the meeting on Wednesday and moved to postpone the vote to allow creditors whose votes were deemed invalid to participate in the decision and enable an independent expert to assess the EziBuy offer.

    Under the EziBuy DOCA, ordinary creditors and employees will be paid in full within six to eight weeks and class action creditors will receive an initial cash dividend between $3.4 million to $4.3 million. Class action creditors and current shareholders will also be issued convertible notes, converting to shares in the newly merged company, which has an obligation to seek an IPO or other liquidity event within the next three years.

    Cheadle has questioned the valuation of the convertible note, since it implies a valuation well over ten times what Alceon paid for EziBuy ($10 million) last year. But creditors proved reluctant to adjourn the meeting after learning that EziBuy would rescind its offer if the vote was postponed.

    Voters were also keen to end the company’s voluntary administration, which has hampered SurfStitch since it has been on cash terms with suppliers since August.

    Cheadle expressed disappointment after the meeting and maintained that her proposal would have delivered a better outcome for everyone involved.

    “I am extremely disappointed the proposal for SurfStitch was not successful. Since August last year, the proposal has been basically the same. During that time I have worked on the offer on a full-time basis, as well as personally funding it, because I believed strongly in the company’s future,” she said.

    “I hope SurfStitch does well under its new ownership.”

    Pedersen said EziBuy will need to step up to revitalise the business, which he believes still has the potential to succeed.

    “I remain of the view that this business should never have been placed into voluntary administration. Alas, it is where it is today despite the process, so what happens from here is now of utmost importance.

    “EziBuy now need to step up with the support that Justin Hillberg and the team need and deserve as they push to restore it to pre-administration performance. The headwinds created by this protracted process are brisk, but the people [who] have built this business and the customers that support it are resilient.”

  • Nike has “failed” in promoting diversity accross Asia

    Nike has “failed” in promoting diversity accross Asia

    Nike’s HR chief has conceded that it has “failed” in promoting and hiring women and other minorities to senior-level positions within the business.

    In a memo send to staff on Wednesday in the US Nike’s human resources chief Monique Matheson signalled broad based changes in the sneaker giant’s policies, American outlet CNBC reports.

    The memo comes just a few weeks after the resignation of general manager of global categories Jayme Martin amid reports of inappropriate behaviour.

    “While we’ve spoken about this many times, and tried different ways to achieve change, we have failed to gain traction – and our hiring and promotion decisions are not changing senior-level representation as quickly as we have wanted,” Matheson’s memo reads.

    Currently only 29 per cent of Nike’s vice presidents are women while in the US only 16 per cent are people of colour.

    Nike will now renew its efforts to address this disparity with immediate effect, Matheson said.

    Nike has more than 70,000 employees worldwide and several hundred vice presidents.

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  • L’Occitane launches a mobile cosmetics truck

    L’Occitane launches a mobile cosmetics truck

    Beauty brand L’Occitane en Provence is set to launch a mobile shopping experience in North America.

    The business will be bringing its skincare, body care, and fragrance products on a road trip with the new direct-to-consumer shopping model.

    The 16-foot-long, 7-foot-high truck is wrapped in L’Occitane’s signature yellow and features two window-like openings, featured at the truck’s side spanning across the entire length and rear that allows customers to view an internal shelving display filled with a curated-assortment of product, and test products facilitated by beauty experts.

    “We are constantly challenging ourselves to surprise and delight our customers and, as a result of this, our in-store shopping experience has evolved dramatically in recent years,” said Paul Blackburn vice president, Concept Design, Construction & Merchandising North America. “From our Flatiron Experiential Community Flagship boutique in New York, to the new Sunshine Retail Concept that was launched in 2017, and most recently the digitally enhanced and Multisensory flagship boutique at Yorkdale, we are addressing customers’ varying shopping needs in a variety of unique and unexpected ways.”

    The truck, whose design was inspired by the vintage French Citroën H Van, often used by small-town French farmers, also has an external video screen that will share campaign and brand imagery.

    “Entering a boutique can often be intimidating to a consumer; this dynamic concept is truly more approachable while still an extension of the multi-sensory and hospitable customer experience from our boutiques,” said Caroline Le Roch, commercial chief officer – North America. “We are excited to bring Provence to our customers, including areas we may not have a brick-and-mortar presence.”

    Le Roch said the L’Occi Truck is a great discovery tool for those who have yet to be introduced to L’Occitane.

    Kicking off in Washington, DC during the Cherry Blossom Festival on April 7th, the truck will stop throughout key cities and regions with and without a brick-and-mortar presence. The L’Occi Truck will also serve as a supporting asset for future store closings due to renovations to ensure the brand is always present for the consumer’s needs.

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  • VF Corporation finalized Icebreaker takeover

    VF Corporation finalized Icebreaker takeover

    Outdoor apparel brand Icebreaker is now under US ownership after New Zealand’s Overseas Investment Office approved the NZ$100 million+ deal.

    The purchaser is VF Corporation, which owns a diverse portfolio of lifestyle brands, including Vans, The North Face, Timberland, Wrangler and Lee.

    In a media release, North Carolina-based VF Corp said the acquisition “is an ideal complement to VF’s Smartwool brand, which also features merino wool in its clothing and accessories”.

    “Together, the Smartwool and Icebreaker brands will position VF as a global leader in the merino wool and natural fibre categories.”

    The deal was originally sealed, subject to regulatory approval, last November. At the time, founder Jeremy Moon said it was always his plan to build a global brand from New Zealand.

    “Our partnership with VF provides us with the largest platform in the world to tell our story, access new markets and reach new consumers at an accelerated pace. This is a once-in-a-lifetime opportunity for our global Icebreaker brand team and for our wool suppliers to introduce a whole new universe of consumers to the benefits of sustainably farmed, ethically sourced, New Zealand Merino wool,” he said.

    The brand is sold in 47 countries through wholesale, branded retail stores and online. Sales were estimated at in excess of US$150 million last year.

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  • Zalora starts partnership with Jason Wu Grey

    Zalora starts partnership with Jason Wu Grey

    Online fashion retailer Zalora has partnered with designer Jason Wu Grey and Malaysian bag specialist Sometime by Asian Designers to release a limited-edition offer.

    The upcoming collaboration will feature a classic tote bag and a crossbody mini tote in vegan leather. They will be exclusively available on the Zalora website and mobile app across Hong Kong, Macau, Singapore, Malaysia, Brunei, Taiwan, Indonesia and the Philippines.

    The handbags were inspired by the “subdued modernity” of the Jason Wu Grey collection combined with bold colour-block details influenced by Josef Albers’ square paintings.

    “This partnership marks Sometime’s expansion to new markets around the region and Jason Wu’s debut collaboration with a Southeast Asian retailer and Malaysian brand,” said Zalora in a statement.

    The exclusive bag collection will be available in June, with further details to be released closer to the launch.

  • Sephora to open a new highly competitive centre

    Sephora to open a new highly competitive centre

    Sephora will look to Queensland for its first Australian store opening of 2018, announcing plans to open a location in QIC’s highly competitive Robina Town Centre in May.

    It will be Sephora’s 14th store launch in Australia since bringing its offer Down Under at the start of 2015.

    With the likes of Myer, David Jones, L’Occitane, Lush, Priceline and The Body Shop already trading in the centre, competition will be fierce.

    But the beauty brand will look to sweeten the deal for its sunshine coast customers by introducing a new virtual artist within the store, which will allow customers to virtually try on products.

    Sephora Country Manager Libby Amelia said the Robina opening followed the success of its Pacific Fair store, opened in 2016, and would provide customers with an experience-focused offer.

    “Our teams of talented beauty advisers are on-hand to provide foundation matching and a wide variety of makeup services, but the beauty of Virtual Artist is that you can try on hundreds of colours all on your own, and from the traction we have via our app, we know our customers absolutely love it,” Amelia said.

    The Robina store will be the first Sephora in Australia to trade with the technology, although a broader roll out is anticipated.

    Sephora will also trade a range of exclusive brands in the new store such as Fenty Beauty, Huda and Anastasia Beverly Hills.

    Robina Town Centre general manager Shaine Beveridge said he was happy about the addition of Sephora to the centre.

    “We are delighted to welcome global cosmetics retailer Sephora to our growing and diverse portfolio,” he said.

    “The addition of this internationally renowned brand signals another exciting chapter for our Centre as we continue to strengthen our retail offer.”

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  • Zalora unveils more different Lubna and Zalia styles

    Zalora unveils more different Lubna and Zalia styles

    Online fashion retailer Zalora has unveiled extended collections from its Muslim modest-wear labels Lubna and Zalia.

    Zalora says its exclusive Hari Raya collections comprise elegant and versatile pieces to suit all seasons and occasions.

    Its Zalia festive collection features 219 styles for women and 69 styles for men featuring intricate designs and inspired by the idea of an ethereal romance.

    A new style addition to the mix, the traditional Baju Kurung and Kebaya, is reminiscent of the ongoing kimono fusion trend, says Zalora. Highlights include embroidery and gem detailing in new jacquard fabrics. Shoppers can expect capsule sets suitable for couples and families.

    Meanwhile, Lubna has crafted a capsule for its third festive collection, a 303-piece women’s and 50-piece men’s collection that marries romantic styling with trending texture play.

    Both collections are available now on Zalora in Indonesia, Malaysia and Singapore.

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