Retail News CRM

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.

  • Puma Parents Announces Plan To Sell 70% Of Its Stake

    Puma Parents Announces Plan To Sell 70% Of Its Stake

    Luxury fashion brand owner Kering says it will sell off the majority of its Puma stake.

    Under the plan, Kering will reduce its 86 per cent holding in the German athletics-wear label to 16 per cent, the remaining 70 per cent of stock distributed proportionally to Kering shareholders.

    While Puma has proven successful under Kering’s ownership, the Paris-headquartered company wants to shift its focus to what it sees as its core business – luxury brands like Gucci, Balenciaga and Stella McCartney, and a growing focus on watches and jewellery.

    “With Puma’s unique DNA, heritage of innovation and creativity, the ongoing successful implementation of its “Forever Faster” transformation plan has started to deliver results,” said Kering in a statement.

    “The brand is enjoying strong revenue growth momentum and achieving an improvement in its profitability. Furthermore, Puma’s management team is fully committed to pursue its successful strategy, and continue to deliver the growth and profitability potential of the brand.”

    “We are very pleased that Kering has proposed this way to reduce its stake in Puma, said Bjørn Gulden, CEO of Puma. “It would allow us to continue with our current business strategy that has started to show good results. We would be able to carry on to invest in becoming the Fastest Sports Brand in the world, create value for retailers, improve performance for athletes and excite consumers.

    “Puma would become much more attractive for investors as our shares would have a substantially higher free float and larger trading volumes. Kering and [Kering’s largest shareholder] Artémis, however, would remain strong partners and shareholders, which proves that they believe in our strategy and Puma’s future success,” said Gulden.

    The Puma stake divestment will be voted on by Kering shareholders on April 26.

    Lees ook:

    Lees ook:

    Lees ook:

  • Exploring the Chatuchak market easier with newest launched app

    Exploring the Chatuchak market easier with newest launched app

    Bangkok’s Chatuchak weekend market has launched a mobile app as a guide to its 8000 shops and restaurants.

    The Chatuchak Guide also offers special offers, promotions and discounts.

    Developed by Digital Ventures, a subsidiary of Siam Commercial Bank, in collaboration with State Railway of Thailand, the app aims to provide the market’s retailers with an online presence to attract both local and international shoppers.

    App users can search for shops by name or type, while a “live” map helps prevent users becoming lost in the market as well as find the shop they want to visit. They can also set up a shopping map by placing pins on shops they want to visit, or they can explore using the app’s recommendations.

    Other features include The Spirit of Chatuchak, a video featuring each shop in the historic market, plus information on where to find toilets, meeting points, ATMs and other services. There is also the Flash Sale & Promotion section with special offers and discounts.

    The app can be downloaded for use on both Android and iOS, and is available in English, Chinese and Thai.

    Lees ook:

    Lees ook:

  • Nordstrom Ends Rocky Year With Modest Holiday Sales Growth

    Nordstrom Ends Rocky Year With Modest Holiday Sales Growth

    Department store chain Nordstrom has seen a boost in sales during the holiday season buoyed by greater consumer confidence, lower unemployment and e-commerce growth.

    Nordstrom posted a 2.5 per cent increase in net sales and a 1.2 per cent increase in same store sales for the nine weeks ending December 30, 2017 compared to the previous corresponding period.

    For the Nordstrom brand, including US and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, increased 0.7 per cent and comparable sales increased 1.0 per cent. In the Nordstrom Rack brand, which consists of Nordstrom Rack stores and Nordstromrack.com/HauteLook, net sales increased 8.2 percent and comparable sales increased 2.9 per cent.

    Based on holiday results, the company has updated its fiscal 2017 expectations for an increase in net sales of approximately 4.2 per cent, inclusive of the 53rd week, and an increase in comparable sales of approximately 0.5 per cent.

    The retailer announced it is expecting full-year earnings per diluted share to be in a range of $2.90 to $2.95, compared with its prior outlook of $2.85 to $2.95.

    The company is scheduled to report its fourth quarter and full-year 2017 financial results after the close of the financial markets on March 1.

    Nordstrom has also recently announced the president of its Rack brand, Karen McKibbin, will retire in March.

    McKibbin joined Nordstrom in 1985 and has held many leadership roles within the company, including president of Nordstrom Canada, where she led the first-ever international expansion of Nordstrom’s full line stores.

    “We are indebted to Karen for the many contributions she’s made over her more than 30-year career with Nordstrom,” said Blake Nordstrom, co-president of Nordstrom, Inc. “During her long tenure, Karen brought great depth of experience to her various roles including president of Canada, president of Nordstrom Rack, and a member of the Executive Team. Her leadership will be missed across the company and we wish her all the best in her next endeavor.”

    Geevy Thomas, chief innovation officer, will succeed McKibbin.

    Thomas, who joined Nordstrom in 1983, has held numerous senior leadership positions throughout the organisation and served as president of Nordstrom Rack from 2010 to January 2017.

    Lees ook:

    Lees ook:

  • Luk Fook expands into Cambodia

    Luk Fook expands into Cambodia

    Luk Fook Holdings (International) Limited has announced its foray into the Cambodian market with the grand opening of a flagship store in its capital city, Phnom Penh, marking the expansion of the Group’s retail network to 10 countries and regions globally.

    Mr. Wong Wai Sheung, Chairman and Chief Executive of the Group said: “Adhering to the corporate vision of ‘Brand of Hong Kong, Sparkling the World’, the Group has been seeking new business opportunities in the international market to expand our footprint.”

    He continued: “With the launch of the Belt and Road Initiative, the Group is optimistic about the prospects of the Southeast Asian market. Following our entry into Malaysia with opening of two shops last year, the Group now establishes a flagship store in Cambodia, with a view to introducing our quality jewellery and professional, caring services to the market. With over 1,610 shops globally, the Group will continue our efforts in providing unparalleled shopping experience for customers worldwide, so as to ensure that Lukfook Jewellery remains a premier jewellery brand for consumers everywhere.”

    The flagship store in Phnom Penh covers an area of over 5,600 square feet and is adjacent to a tourist hotspot with high tourist traffic and great potential.

    Phnom Penh, the capital of Cambodia, is a developing city as well as the country’s political, economic, industrial, cultural and tourist centre with considerable room for development. With the opening of this new shop, the Group expects to further expand its retail network in Southeast Asia.

    Lees ook:

    Lees ook:

  • H&M apologizes for ‘coolest monkey’ racist campaign

    H&M apologizes for ‘coolest monkey’ racist campaign

    Swedish fast fashion chain H&M has apologised for featuring a black child modelling a garment with the text “coolest monkey in the jungle”, also removing the advertisement and item from stores.

    H&M was forced to apologise following widespread backlash from consumers, staff, stakeholders and the media.

    “Our position is simple and unequivocal – we have got this wrong and we are deeply sorry,” the retailer stated.

    “H&M is fully committed to playing its part in addressing society’s issues and problems, whether it’s diversity, working conditions or environmental protection – and many others. Our standards are high and we feel that we have made real progress over the years in playing our part in promoting diversity and inclusion. But we clearly haven’t come far enough.”

    The retailer said it agreed with all the criticism that the controversy had generated and stated that “even if unintentional, passive or casual racism needs to be eradicated wherever it exists.”

    The item will be recycled after being removed from shop floors.

    “We appreciate the support of those who have seen that our product and promotion were not intended to cause offence but, as a global brand, we have a responsibility to be aware of and attuned to all racial and cultural sensitivities – and we have not lived up to this responsibility this time,” the retailer stated.

    “Racism and bias in any shape or form, conscious or unconscious, deliberate or accidental, are simply unacceptable and need to be eradicated from society. In this instance we have not been sensitive enough to this agenda.”

    Lees ook:

    Lees ook:

    Lees ook:

  • Neiman Marcus appoints new CEO

    Neiman Marcus appoints new CEO

    It is a new era for Neiman Marcus. The US luxury department store chain has appointed a new CEO, Geoffroy van Raemdonck, in the wake of the departure of current chief executive, Karen Katz.

    Karen Katz, who is retiring after more than 30 years with Neiman Marcus, served in her capacity as CEO for seven years. She will relinquish her role next month, 12 February 2018.

    Having served as President for Europe, the Middle East and Africa (EMEA) and global travel retail at Ralph Lauren, van Raemdonck joins Neiman Marcus at a tumultuous time in the company’s history.

    With a solid track record at Ralph Lauren, spearheading the luxury brand’s omnichannel transformation, the luxury executive’s appointment hopes to lead Neiman Marcus into future growth and relieve heavy debts.

    “We are thrilled to welcome Geoffroy to Neiman Marcus, and look forward to extending the company’s positive momentum under his leadership,” said Neiman Marcus chairman David Kaplan.

    “He is a global industry leader and business builder with exceptional vision and energy.”

    Katz will remain on Neiman’s board of directors, and will work with van Raemdonck during the transition process.

    “Geoffroy has an impressive track record of success at luxury brands, and he is the right person to lead the company through this next phase of growth,” Katz said.

    During his career, Van Raemdonck has also spent time at French luxury group Louis Vuitton from 2008 to 2013 and Victoria’s Secret owner, L Brands Inc.

    Neiman Marcus, the Dallas-based group, which owns MyTheresa.com and Bergdorf Goodman, has been struggling since 2013, after Ares and Canadian public pension fund CPPIB acquired it from other private equity firms, and left it with a nearly $5 billion debt load.

    The firm’s most recently financial quarterly result saw losses widen to $26.2 million from $23.5 million over the same period last year, as debt and previously accrued losses continued to weigh on the business.

    However, Neiman Marcus recorded a 4.2% rise in comparable revenue in the first quarter of 2018, which it attributed to its ‘digital first’ strategy and new technology investments.

    Quarterly revenue rose to $1.12 billion, up 3.8% from $1.08 billion a year ago, said the firm.

  • Chow Tai Fook quarterly retail sales flat

    Chow Tai Fook quarterly retail sales flat

    Chow Tai Fook Jewellery Group (1929) said retail sales in Hong Kong and Macau in the third quarter ended December 31, remained unchanged from the same period the year before.

    Same store sales grew by 5 percent. Gem-set jewelry sales were up by 22 percent, while gold products sales slipped by 1 percent in the third quarter. In Hong Kong and Macau, same store sales improved as a result of an increase in volume and average sale price to HK$11,800, the jewelry retailer reported today in an update.

    Lees ook:

    Lees ook:

  • Macy’s taps VR, live video in China push

    Macy’s taps VR, live video in China push

    Macy’s, the iconic US bricks-and-mortar retailer, has taken a digital-first approach in its effort to crack the complicated China market by using innovative virtual reality and influencer strategies.

    “When we came into China, we started digital first, and we started building big digital homes,” Dustin Jones, Executive Vice-President and Managing Director of Macy’s China, told an audience at the World Retail Congress Asia Pacific event in Hong Kong.

    “We view ourselves as not a player or an instrument in China but an orchestrator of a better, more simple, more entertaining consumer transaction,” he added.

    To make a splash with Chinese millennials, Macy’s turned to virtual reality. In late October, Alibaba sold 150,000 cardboard VR headsets for just 1 yuan (about US$0.15) on Taobao, China’s equivalent to eBay. In the days leading up to Singles Day – 11 November – customers could use the headsets with Taobao’s app to shop a virtual reality version of Macy’s iconic New York flagship store.

    “We created the first virtual reality department store,” said Jones. “We launched that virtual reality department store last year on (Single’s Day) – five million people shopped that virtual reality store with us. We filmed it all in New York in Macy’s Herald Square and made all those products shoppable.”

    Macy’s has also tapped live streaming to bring New York fanfare to Shanghai, with a local twist.

    “We did a fashion show even last year for what we would call ‘grand opening’ on Tmall. That fashion show was live-streamed in New York with an after-party by a Chinese host. And also, then a talk show was created in Shanghai where we did a fashion show down the side of the very tall building and showed the product in a completely different way, and we sold all of the product through live video,” Jones said.

    “On that event, 150m people participated in our live show, and on the two events combined, 300m people participated.”

    Lees ook:

  • A Novel Fashion Of Minimalism At Your Fingertips

    A Novel Fashion Of Minimalism At Your Fingertips

    Replace complexity with simplicity. Prioritize quality over quantity. As the cosmopolitan life continues at an ever-increasing pace, the pursuit of an exquisite, simple, yet practical lifestyle has gradually been on the rise. And unsurprisingly, the Nordic lifestyle, which embodies the very concept of minimalism, has enjoyed a surging popularity.

    Skandiastyle is presenting Scandinavian cutting-edge design and high-quality lifestyle concepts to Asian consumers in its very first pop-up store in Times Square Hong Kong, until March 2018.

    Located on the fifth floor of Times Square in Hong Kong, the Skandiastyle pop-up store epitomizes the Nordic design and lifestyle. The pop-up store is decorated in the style of iconic Nordic interior design, following two key principles: refined craftsmanship and a natural touch. Incorporating elements that are both stylistic and chic, the store will be a physical and concrete space for consumers to get a taste of Nordic style, tradition and culture, where purchases are made through an ecommerce site built by retail technology partner Red Ant Asia.

    Red Ant Asia’s Regional Director and Co-founder Elisa Harca said, ‘Hong Kong is at the heart of retail innovation, and the Skandiastyle pop-up store turns the traditional concept of physical shopping on its head, to great effect for both the business and its customers. This kind of O2O model, where superbly-designed destination retail spaces can be built for specific periods of time and for specific audiences because they are closely integrated with the reach, range and delivery capabilities of a first-class ecommerce platform, represents the future for retail in a highly-competitive market.’

    Offering a well-curated selection of 30 Scandinavian brands, Skandiastyle is dedicated to bringing to life the essence of this region’s style, which is defined by minimalism and purism. With a wide product range that basically covers every aspect of life, the pop-up store offers men’s and women’s wear, accessories, interior and home ware, all picked from some of the most coveted Nordic brands.

    To name a few exclusive brands, Skandiastyle is presenting Swedish home deco brand Design House Stockholm, a considered and well thought-out interpretation of the Scandinavian design that brings life and inspiration to the forefront. The simple and cutting-edge style of Swedish fashion brand Whyred is rooted in art and music with a modern touch. Danish fashion label Designers Remix’ design manifesto is all about minimalism and architecture and key factors in every aspect of its creative process are organic modernism and functionalism. Oh! by Kopenhagen Fur is a Danish fur brand based in Copenhagen. They focus on creating sophisticated yet commercial styles as everyday must-have items within the accessory (bags & charms) and outerwear categories.

    As the ecommerce platform, developed by Red Ant Asia’s team of talented developers, finds its foundations in connecting carefully selected Nordic fashion brands to Asia and other parts of the world, Skandiastyle aims to break the barrier of distance and language to introduce the lifestyle and ideology it embodies to the Asia Pacific region in an innovative manner. With an emphasis on attentive services and competitive prices, the platform is able to bring the once remote, and somewhat mysterious, life of Scandinavia (traditionally Denmark, Finland, Norway, Sweden and Iceland) to millions of Asian consumers.

    Skandiastyle’s first pop-up store opened its doors on 22nd December, 2017 in Times Square, Shop 501, 5/F and will remain open for 3 months. During the pop-up store period, Skandiastyle is offering an exclusive10% discount on all products with promo code tsqpress10.

    Lees ook:

  • Off-White Set to Launch More Affordable Line “For All”

    Off-White Set to Launch More Affordable Line “For All”

    As speculation grows about an Off-White™ x Nike Soccer collection, Virgil Abloh‘s label has debuted a more affordable line. Titled “For All,” the new collection features pieces such as graphic T-shirts and hoodies at a significantly lower price point than Off-White™ mainline pieces, with tees priced at $95 USD and hoodies at $170 USD.

    Speaking to the press about the newly-launched line, Abloh explained that “the price tier allows for a new customer to see themselves within the overall concept of the fashion label. Off-White™ can be luxury at a traditional luxury price point, or equally it can be relevant at an affordable price point.”

    The “For All” collection is available now from 11 Off-White™ locations around the world — including the brand’s stores in New York, Hong Kong and Sydney. Abloh has also indicated that there could be more affordable collections on the way, telling BoF that he will drop new releases “periodically but with the freedom to decide where and when in each instance.”

    As well as dropping the first “For All” capsule, Off-White™ has also recently released a set of limited edition cycling caps.

    Lees ook:

  • China’s Ruyi Emerges as Leading Bidder for Bally

    China’s Ruyi Emerges as Leading Bidder for Bally

    Chinese textile producer Shandong Ruyi Group is emerging as leading bidder for Swiss luxury brand Bally International.

    In advanced negotiations with Bally’s owner, JAB Holding, the group has been discussing a price of about US$700 million, insiders say.

    Ruyi has pulled ahead of other suitors including Club Med owner Fosun International and Chinese apparel maker Fujian Septwolves Industry, and another buyer may yet emerge.

    Ruyi agreed in November to buy a controlling stake in Trinity, the owner of British bespoke suit-maker Gieves & Hawkes, for HK$2.22 billion (U$284 million). The previous month, it said it would buy the owner of material company Lycra. In 2016, it acquired SMCP, whose fashion brands include Sandro, Maje and Claudie Pierlot, and agreed to buy British trench-coat maker Aquascutum last year.

    Founded in Switzerland in 1851, Bally was previously owned by US buyout firm TPG, which agreed to sell the firm to JAB in 2008.

    Lees ook:

    Lees ook:

  • Kendrick Lamar Debuts the Nike Cortez “Kenny I”

    Kendrick Lamar Debuts the Nike Cortez “Kenny I”

    With the release date for his “DON’T TRIP” Cortez “Kenny” collaboration with Nike fast approaching, Kendrick Lamar has now given another take on the collaborative sneaker. Stepping out for his performance at the 2018 NCAA College Football National Championship, Lamar was wearing a previously-unseen take on the Cortez silhouette, which Nike described as “a tribute to his album DAMN.“ in an Instagram post.

    DAMN. is celebrated through contrasting red embroidery of the album’s title along the sneaker’s lateral side, as well as custom Nike branding on the tongue with “DAMN.” appearing above a Swoosh logo. Other features of the shoe include its black tongue and red stitching across the upper.

    Nike has confirmed that the “Kenny I” collaboration is set to drop via the SNKRS app on January 26, with a reported retail price of $100 USD. For more new Nike sneakers, take a closer look at the Air Max 270 “Teal.”

    Lees ook:

  • L Brands hit by sagging Victoria’s Secret sales

    L Brands hit by sagging Victoria’s Secret sales

    L Brands, which owns the Victoria’s Secret, Pink and Bath & Body Works brands, has reported positive comparable and net sales for December.

    However, Victoria’s Secret sales failed to pick up during the holiday season.

    Net sales reached US$2.5 billion for the five weeks ended December 30, up 3 per cent compared to the same period the previous year, while comparable sales increased 1 per cent.

    Bath & body Works sales rose 4 per cent while Victoria’s Secret comparable sales declined 1 per cent. Minus the effect of online sales, Victoria’s Secret comparable-store sales fell 6 per cent.

    This follows Victoria’s Secret brand quitting the swim and apparel categories.

    For the 48 weeks to the end of December, the company reported net sales of $11.5 billion, down from $11.7 billion. Comparable sales dropped 4 per cent.

    Lees ook:

    Lees ook:

  • UL-OS to appoint its new brand ambassador

    UL-OS to appoint its new brand ambassador

    TVXQ ‘Yunho (Jeong Yun-ho)’ was selected as the first solo male cosmetics brand model.

    UL-OS, a male total skin care brand in Otsuka Pharmaceutical Korea, announced on  that the brand selected Yunho, the leader of group Dong Bang Shin Ki (TVXQ).

    An UL-OS official said, “We decided to choose Yunho as a new model, judging that Yunho’s healthy skin and sophisticated image fit well with the Ul-os brand image.”

    Yunho finished shooting a new TV advertisement of UL-OS’s representative product of all-in-one moisturizer. In this advertisement, Yunho’s stylish and manly charm will appeal to viewers with his UL-OS brand message and will be aired from January 1, 2018

    Yunho said “I am very interested in skin care products for normal moist and healthy skin.” “I am very pleased to be a model of the UL-OS brand that helps people to understand skin troubles and needs accurately and to provide effective skin care.”

    Yunho, who was selected as the fourth model of UL-OS after Cha Tae Hyun, Jung Woo and Eric, is the 13th year of his debut this year, as a K-POP leader, Korea’s best male idol, and he has been loved by fans home and abroad. He has been still active in the five major dome tours in Japan since November 2017.

    Meanwhile, men’s total skin care brand UL-OS presents three all-in-one moisturizers (skin milk, skin lotion, and skin conditioner) as men’s all-in-one products and has a full skin care line including scalp shampoo, skin wash, sunblock and face sheet.

    In particular, UL-OS Skin Milk has recently been selected as a men’s cosmetics standard at the Olive Young 2017 Health & Beauty Awards, and received continuous support from male consumers, including the Olive Young Health and Beauty Award in the men’s all-in-one category for the second consecutive year.

    Lees ook:

  • Modest sales rise for Bauhaus International

    Modest sales rise for Bauhaus International

    With two more shops at year’s end, apparel company Bauhaus International (Holdings) had a modest rise in same-store sales for its latest nine months.

    The quarter reverses a trend of declining sales and store closures by the streetwear retailer.

    Unaudited figures show sales growth was up 9 per cent for Hong Kong and Macau with a weighted average of 65 shops for the third quarter, while for the nine months growth was 4 per cent from 64 shops.

    Bauhaus designs and makes apparel and accessories which it wholesales and retails under its brand names including Bauhaus, Salad and Tough, and retails third-party labels including Superdry.

    With a constant 82 shops, Taiwan saw sales fall 8 per cent for the quarter and 16 per cent for the year to date.

    For Mainland China, 18 shops saw sales growth of 9 per cent for the quarter, while for the nine months growth was 12 per cent for 19 shops.

    Overall, group sales growth was 4 per cent for 165 shops for the quarter, with a 1 per cent sales dip for 165 shops for the nine months.

    At the end of the year the group had 198 self-managed offline shops, two fewer than nine months earlier.

    These comprised 80 outlets in Hong Kong and Macau at March 31, dropping to 77 at year end, 91 in Taiwan rising to 96 by December 31, and no change in China with 25 shops.

    Lees ook: