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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.

  • “Swedish Icon Craft Sportswear Debuts Flagship Store in Shanghai, Amping Up Expansion in Asia”

    “Swedish Icon Craft Sportswear Debuts Flagship Store in Shanghai, Amping Up Expansion in Asia”

    Sweden’s Craft Sportswear, a high-performance athletic apparel brand, has recently launched its premier flagship store in China.

    Athletic Excellence: Craft Sportswear

    A standout in the sportswear industry since its inception in 1973, Craft Sportswear has built its reputation on providing top-tier athletic apparel designed for running, cycling, and cross-country skiing. This powerhouse brand, widely recognized throughout Europe, has been progressively branching out into Asia since 2021. The opening of their first flagship store in China marks a significant step in their expansion efforts.

    Exciting Milestones: Store Opening in Shanghai

    The new Craft Sportswear store, located at Taikoo Hui in Shanghai, has been hailed as an “exciting milestone.” Craft Sportswear also recently revealed that it will be the official teamwear partner for Norway’s Winter Olympic and Paralympic teams, further establishing its credibility in the sports industry.

    A representative from Craft Sportswear expressed the brand’s enthusiasm for this global retail development, stating, “This milestone marks an exciting step in our global retail expansion – bringing our Swedish performance heritage to Shanghai with a space designed for world champions and everyday heroes.”

    Health and Wellness: Aligning with China’s Priorities

    This significant expansion is in line with China’s growing emphasis on health, wellness, and lifestyle choices, as reflected in their current five-year plan. In this plan, sports, outdoor activities, and quality living are actively encouraged. Craft’s move to establish a presence in China, therefore, aligns perfectly with these objectives, reflecting the brand’s commitment to promoting an active and healthy lifestyle.

    Questions & Answers

    What is the focus of Craft Sportswear’s product line?
    Craft Sportswear specializes in high-performance athletic apparel designed for running, cycling, and cross-country skiing.

    What recent milestone has Craft Sportswear achieved in its global expansion?
    Craft Sportswear has recently opened its first flagship store in China, marking a significant step in its global expansion efforts.

    What recent partnership has Craft Sportswear announced?
    Craft Sportswear has announced that it will be the official teamwear partner for Norway’s Winter Olympic and Paralympic teams.

  • Lanvin Group Sharpens Focus with Strategic Spin-off of Italian Luxury Brand Caruso

    Lanvin Group Sharpens Focus with Strategic Spin-off of Italian Luxury Brand Caruso

    The Lanvin Group has recently completed the strategic divestment of the Italian luxury menswear brand, Caruso. This move is a part of the group’s plan to concentrate on their primary brands, especially in light of the ongoing instability in the luxury market.

    Caruso has now been procured by MondeVita Italy, which is a constituent of the Mondevo Group based in Abu Dhabi. This marks the end of the Lanvin Group’s proprietorship of the esteemed tailoring house. The financial details related to this transaction have not been made public.

    Caruso: A Brief Overview

    Caruso, established in 1964 and based in Soragna, Italy, is famed for its superior tailoring skills and manufacturing proficiency. The brand primarily functions through wholesale channels and has chosen retail collaborations across Europe, Asia, and the U.S.

    Lanvin Group’s Alignment With Broader Strategy

    The Lanvin Group has stated that this divestment is in agreement with its expansive strategy to streamline operations and channel resources towards its fundamental luxury labels. This transaction is part of a larger restructuring endeavor aimed at enhancing operational efficiency and boosting long-term profitability.

    The Fosun Group, which has recently rebranded itself as the Lanvin Group, became the principal shareholder of Caruso in 2017 through a capital increase. This was subsequent to its acquisition of a 35 per cent stake in 2013.

    In the early part of the previous year, the group, which is based in China, reported a substantial drop in annual sales whilst continuing to put its revitalization strategy into action.

    Questions & Answers

    What is the Italian luxury menswear brand that Lanvin Group has divested?
    The brand is Caruso, an esteemed tailoring house established in 1964 and known for its superior tailoring skills and manufacturing proficiency.

    Who has now acquired Caruso?
    Caruso has been procured by MondeVita Italy, a subsidiary of the Mondevo Group based in Abu Dhabi.

    What is the reason behind Lanvin Group’s divestment of Caruso?
    This divestment is part of the Lanvin Group’s strategy to streamline operations and focus resources on their core luxury labels, amidst ongoing market instability.

  • Pieter Mulier: From Dior and Calvin Klein to Versace’s New Chief Creative Officer

    Pieter Mulier: From Dior and Calvin Klein to Versace’s New Chief Creative Officer

    The Prada Group, a leading player in the world of luxury goods, has appointed Pieter Mulier to the position of Chief Creative Officer for Versace. This new appointment is set to come into effect from July 1 onwards.

    Mulier’s impressive portfolio includes senior roles at renowned fashion brands such as Dior, Raf Simons, Jil Sander, Calvin Klein, and most recently as the creative director at Alaia.

    In his new designation with Versace, he will be answerable to the Executive Chairman, Lorenzo Bertelli.

    According to Bertelli, Mulier was identified as the ideal candidate for the brand during the acquisition process of Versace by Prada Group. He expressed strong confidence in Mulier’s capabilities to fully harness the potential of Versace, and believes that Mulier will effectively engage in meaningful dialogue with the brand’s rich legacy. Bertelli also expressed his excitement about beginning this new journey with Mulier.

    Questions & Answers

    Who has been appointed as the new Chief Creative Officer for Versace?
    Pieter Mulier has been named as the new Chief Creative Officer for Versace.

    Who did Pieter Mulier serve as the creative director for before this new appointment?
    Before his appointment at Versace, Pieter Mulier served as the creative director for Alaia.

    Who will Pieter Mulier report to at Versace?
    In his new role at Versace, Pieter Mulier will be reporting to the Executive Chairman, Lorenzo Bertelli.

  • Australian Fashion Powerhouse Zimmermann Debuts in Bangkok’s IconSiam: A New World of Style and Art

    Australian Fashion Powerhouse Zimmermann Debuts in Bangkok’s IconSiam: A New World of Style and Art

    Zimmermann, a renowned Australian fashion brand, has broadened its global presence with the inauguration of its debut store in Thailand, situated within IconSiam, Bangkok.

    Store Design and Highlights

    The boutique, created by Studio McQualter, is characterized by an expansive display of large windows, showcasing an array of ready-to-wear garments and accessories. Inside, the store encapsulates a 1970s Italian-inspired vibe, with Dutch Art Deco tables serving as the centerpiece.

    The boutique’s ready-to-wear selection is presented across wall-mounted rails, recessed displays, and individual wardrobes. Meanwhile, the accessory section, set beneath an unusually high ceiling, features muted green beams and custom aluminium shelves specifically designed to display bags.

    Customer Experience

    The store is divided into different zones, each aiming to provide a “layered spatial” experience for the customers. These areas are distinguished by unique colour schemes, patterns, and materials. Additionally, a tiled floor serves as a visual guide, assisting customers as they navigate the space.

    The store also houses two lounges, one being a public area and the other a private lounge reserved for special appointments.

    Art and Brand Identity

    The brand’s cultural roots and identity are reflected in the artwork displayed throughout the boutique. Pieces by Australian artists Angilyiya Mitchell, Laith McGregor, and Louise Paramor are featured prominently.

    Nicky Zimmermann, the brand’s creative director and co-founder, emphasized that the store is more than just a space to display clothing. She stated, “The store is a destination that fully embodies the spirit of Zimmermann, from the selection of textures and materials to the integration of art and furniture. Every element invites visitors to linger, explore, and truly inhabit the world of our brand.”

    Questions & Answers

    Where is Zimmermann’s first Thailand-based store located?
    The store is located in IconSiam, Bangkok.

    Who is responsible for the design of the store?
    Studio McQualter designed the boutique.

    What is unique about Zimmermann’s store design?
    Zimmermann’s store is meticulously designed to offer a layered spatial experience, with each area defined by specific colour palettes, patterns, and materials. The store also integrates artwork and furniture, creating a space that invites exploration and evokes the spirit of the Zimmermann brand.

  • Zegna’s Power Duo: Brothers Edoardo and Angelo Take the Helm as Co-CEOs of Luxury Fashion Giant

    Zegna’s Power Duo: Brothers Edoardo and Angelo Take the Helm as Co-CEOs of Luxury Fashion Giant

    Italian luxury fashion label Zegna recently appointed Edoardo and Angelo Zegna as its co-CEOs. The appointment is effective immediately and represents a significant shift in the company’s leadership structure.

    Former CEO Gildo Zegna has transitioned into an executive chairman role in the company. In this new capacity, Gildo Zegna will oversee the management of the three major brands under the company’s umbrella: Zegna, Thom Browne, and Tom Ford Fashion. His responsibilities will also include supervising the textile division, the general counsel’s office, which includes internal audit, as well as the external relations department. The latter encompasses sustainability, investor relations, and corporate communications.

    Gildo Zegna expressed his confidence in the new co-CEOs, stating, “Edoardo and Angelo’s complementary strengths and clear vision will make them a highly effective team to lead the Zegna brand. They continue the family legacy and have demonstrated their business leadership in recent years. Together, they will not only carry forward the brand’s timeless heritage but will further strengthen it.”

    In his role as co-CEO, Edoardo Zegna, who previously served as the group’s chief marketing and digital officer and group chief sustainability officer, will now lead the brand’s strategy. His responsibilities will include overseeing everything from brand image to marketing, as well as looking after design elements, including store design, alongside artistic director Alessandro Sartori.

    Angelo Zegna, the former CEO of Zegna’s Emea region and global client strategy director, will handle product development, merchandising, and commercial strategy as a co-CEO.

    Regarding their new roles, the brothers commented, “Our father passed the baton to lead a brand and protect its integrity, values, and long-term vision. As the fourth generation, our role is not to rewrite this story, but to move it forward with clarity, respect, and ambition.”

    Zegna, established in 1910 in Trivero, Italy, is celebrated for its high-quality tailoring and textiles. The brand is also recognized for its innovative fabrics, such as the Oasi cashmere and Trofeo wool.

    Questions & Answers

    Who are the new co-CEOs of Zegna?
    Edoardo and Angelo Zegna have been named as the new co-CEOs of the Italian luxury fashion brand.

    What role will Gildo Zegna play in the new leadership structure?
    Gildo Zegna will now serve as the executive chairman of the group, overseeing multiple brands and departments including sustainability, investor relations, and corporate communications.

    What is Zegna known for?
    Established in 1910 in Italy, Zegna is renowned for its premium tailoring and textiles, and for producing innovative fabrics like Oasi cashmere and Trofeo wool.

  • Hollister Boosts Hong Kong Presence with New Store at K11 Art Mall: A Fusion of American Vintage and Chinese New Year Collections”

    Hollister Boosts Hong Kong Presence with New Store at K11 Art Mall: A Fusion of American Vintage and Chinese New Year Collections”

    Hollister, an offspring of Abercrombie & Fitch Co., has broadened its physical retail footprint in Hong Kong with the launch of a new store at K11 Art Mall.

    Store Design and Offerings

    The store’s interior design is a reflection of Hollister’s American-vintage theme, featuring wooden floors, navy accents, and an open layout. The window displays are currently showcasing Chinese New Year merchandise, and the festive design elements can also be observed in the fitting-room areas.

    Hollister’s new store offers a wide range of its core apparel lines, inclusive of denim, casual wear, and seasonal collections. Denim continues to be a major focus at the K11 Art Mall store, boasting a diverse offering of baggy, flare, and straight-leg fits available in multiple sizes.

    In addition to the standard offerings, the store has stocked up on new seasonal ranges. This includes the Love Hollister collection and a Chinese New Year capsule designed to celebrate the Year of the Horse. The latter features hoodies and sweatshirts adorned with red-toned updates.

    Hollister’s Growing Presence in Hong Kong

    The launch of the K11 Art Mall store highlights Hollister’s continued commitment to expanding its brick-and-mortar presence in Hong Kong. This comes at a time when international fashion brands are sustaining their investments in physical stores, parallel to their digital channels.

    Abercrombie & Fitch experienced a surge in sales last year, posting record second-quarter numbers. Hollister played a significant role in this growth, contributing a 19 per cent increase in sales.

    Questions & Answers

    What is the design concept of Hollister’s new store at K11 Art Mall?
    The store follows Hollister’s American-vintage concept with wooden flooring, navy accents, and an open layout.

    What clothing lines does the new Hollister store carry?
    The store carries Hollister’s core apparel lines, including denim, casual wear, and seasonal collections. It also offers a Chinese New Year capsule and the Love Hollister collection.

    How did Hollister contribute to Abercrombie & Fitch’s growth last year?
    Hollister significantly contributed to Abercrombie & Fitch’s growth last year, accounting for a 19 per cent increase in sales.

  • H&M Closes Q4 with Soaring Profits Amid Cost Control & Inventory Efficiency, Softening Demand Forecasted

    H&M Closes Q4 with Soaring Profits Amid Cost Control & Inventory Efficiency, Softening Demand Forecasted

    Despite limited sales growth and a reduction in store counts, H&M ended the year with robust profitability and stringent cost control.

    Q4 Performance

    The fourth quarter, concluding on November 30, saw a 2 percent increase in sales. This growth was achieved despite a 4 percent reduction in store operations compared to the same period last year. The retailer’s operating profit escalated 38 percent to US$738.3 million, driving the operating margin up to 10.7 percent from 7.4 percent the previous year. The gross margin also increased to 55.9 percent. H&M attributes this successful quarter to an enhanced product offering and superior inventory productivity, even with selling and administrative expenses on the wane.

    H&M CEO Daniel Erver highlighted a strong customer offering, effective cost control, and improved inventory productivity as the main drivers of this quarter’s performance.

    Annual Results

    Over the year, H&M reported a 2 percent rise in net sales in local currencies. However, reported sales demonstrated a decline, settling at $25.7 billion. Operating profit saw a rise, reaching $2.1 billion and lifting the operating margin to 8.1 percent from the previous year’s 7.4 percent.

    Net profit also saw an increase, reaching $1.3 billion, while cash flow from operating activities grew to $3.5 billion. According to Erver, the company saw an improvement in earnings during the second half of the year, attributing it to a focus on enhancing relevance and speed across the product offering.

    Erver added, “We continue to make significant strides towards all our long-term goals despite challenging environments.”

    Future Projections

    Looking forward, H&M predicts a 2 percent decline in sales in the upcoming months in local currencies. This projection is based on a softened demand following strong Black Friday sales and a negative calendar effect due to the timing of the Chinese New Year.

    H&M also plans to expand its physical and digital presence in growth markets such as Brazil and other parts of Latin America. This expansion strategy will be complemented by an ongoing optimization of the store portfolio and increased use of artificial intelligence.

    Questions & Answers

    What were the key contributors to H&M’s fourth-quarter performance?
    The performance was primarily driven by a stronger customer offering, good cost control, and improved inventory productivity.

    What factors led to the improvement in H&M’s annual earnings?
    H&M’s annual earnings saw an improvement due to a focus on enhancing relevance and speed across the product offering.

    What is H&M’s growth strategy for the near future?
    H&M plans to expand its physical and digital presence in growth markets such as Brazil and other parts of Latin America, alongside ongoing optimization of the store portfolio and increased use of artificial intelligence.

  • Damiani Debuts First Flagship Store in Seoul: A Taste of Italian Luxury in Korea’s Gangnam District

    Damiani Debuts First Flagship Store in Seoul: A Taste of Italian Luxury in Korea’s Gangnam District

    Damiani, the esteemed Italian jewellery manufacturer, has proudly unrolled its first flagship store in South Korea. This exciting new venture is nestled in the bustling Gangnam District of Seoul.

    The Essence of Casa Damiani Seoul

    The boutique, christened Casa Damiani Seoul, draws its inspiration from the warmth and charm of traditional Italian homes. The space has been thoughtfully designed to foster a hospitable and inviting atmosphere, where customers can explore and appreciate fine jewellery in a relaxed and comfortable setting.

    The exterior of the store is marked by a series of vertical frames that encapsulate the structure, all bathed in a sophisticated champagne-gold hue.

    The Interior Design

    Inside, the boutique boasts a distinctive selection of Italian materials. Among these are Calacatta marble, leather, and various textile finishes. The décor is further enhanced by geometric designs that are reminiscent of the Maison’s Belle Epoque collection, serving as a recurring motif throughout the interior.

    Moreover, exquisite glass creations and chandeliers, crafted by Venini—an entity within the Damiani Group—infuse an extra touch of artistry into the space.

    Celebrating the Flagship Store

    In celebration of the store’s opening, Damiani showcased the Belle Epoque Marea Cross necklace, an exquisite piece adorned with Paraiba tourmalines. The name ‘Marea’, which translates to ‘the movement of the sea’ in Italian, serves as an ode to the ocean-like hues that Paraiba tourmalines are renowned for.

    Questions & Answers

    What is the inspiration behind Casa Damiani Seoul?
    The boutique is inspired by the warmth and charm of traditional Italian homes, providing a hospitable and inviting atmosphere for its customers.

    What unique design elements are incorporated in Casa Damiani Seoul?
    The store’s design incorporates a selection of Italian materials, including Calacatta marble, leather, and textile finishes. Geometric designs inspired by the Maison’s Belle Epoque collection serve as a recurring motif.

    What is the Belle Epoque Marea Cross necklace?
    The Belle Epoque Marea Cross necklace is an exquisite piece adorned with Paraiba tourmalines. The name ‘Marea’ references the ocean-like hues for which Paraiba tourmalines are known.

  • “LVMH Shatters Q4 Sales Predictions: Luxury Sector Sees Hope with China’s Uptick”

    “LVMH Shatters Q4 Sales Predictions: Luxury Sector Sees Hope with China’s Uptick”

    LVMH, the conglomerate which owns luxury brands Louis Vuitton and Tiffany, outperformed fourth-quarter sales projections on Tuesday. This development has raised expectations of a revival within the luxury sector, despite challenges including trade conflicts, a depreciating dollar, and elevated gold prices impacting profit margins.

    In the final quarter, the leading luxury firm posted overall sales of 22.7 billion euros (US$27.1 billion). This represents a 1 per cent increase on a comparable basis, outperforming predictions of a 0.3 per cent decrease as per Visible Alpha’s consensus forecast.

    Signs of Recovery in Asia

    The France-based conglomerate revealed indications of resuming growth in Asia, with domestic Chinese sales seeing an uptick in the quarter. This supports the trend of recovery that the retail giant has been witnessing over the last few months.

    The watches and jewellery division of LVMH experienced a sales growth of 8 per cent in the quarter, surpassing expectations. However, revenue from its main fashion and leather division, which contributes most to the overall profits, saw a 3 per cent decline when adjusted for currency fluctuations – a figure that was in line with projections.

    The luxury sector is slowly recovering from a prolonged slump, and recent positive results from industry peers Richemont and Burberry, bolstered by a rebound in China, have been encouraging.

    Caution Moving Forward

    However, despite the promising results, LVMH’s CEO and billionaire owner, Bernard Arnault, signaled caution for the future, stating plans to restrict costs and expenses. Arnault cited ongoing geopolitical crises, economic uncertainty and certain state policies, including those in France, aimed at maximizing taxation, as reasons for adopting a cautious approach.

    The conglomerate’s operating profit for 2025 dropped by 9 per cent, with margins affected by a range of factors including currency movements, US tariffs impacting alcohol exports, and record gold prices escalating import costs for jewellery.

    Strategies Amid Challenges

    Amid a real estate crisis and stiff local competition in China, LVMH has been strategically leveraging its financial strength to gain an edge. This approach has seen the opening of a large, ship-shaped Vuitton store in Shanghai and a new Dior flagship store in Beijing, among other initiatives.

    The ship-shaped store has proven to be a “great success” for the prominent Louis Vuitton brand, according to Arnault. Chinese customers, including international tourists, comprise nearly one-third of LVMH’s fashion and leather sales, as per UBS estimates.

    During its last trading update, LVMH’s positive remarks about slightly improved Chinese demand led to a rally in the luxury stock market, adding nearly $80 billion to combined company valuations.

    The company stated that the weaker dollar had resulted in US tourists spending less in Europe, with regional sales dropping 2 per cent last quarter. Conversely, US sales rose by 1 per cent in the same period. Sales in Asia, including China, increased by 1 per cent.

    Questions & Answers

    What was the overall sales of LVMH in the fourth quarter?
    The company recorded overall sales of 22.7 billion euros (US$27.1 billion).

    How did the sales of LVMH’s watches and jewellery division perform?
    The watches and jewellery division experienced an 8 per cent growth in sales in the quarter.

    What factors are affecting LVMH’s operating profit?
    The operating profit was impacted by a range of factors including currency movements, US tariffs impacting alcohol exports, and record gold prices escalating import costs for jewellery.

  • Breguet Breaks New Ground with First Luxury Watch Boutique in Thailand

    Breguet Breaks New Ground with First Luxury Watch Boutique in Thailand

    Swiss high-end watch manufacturer, Montres Breguet, has made its debut in Thailand with the launch of a boutique at IconSiam in Bangkok.

    Store Design

    The newly minted boutique showcases a unique design aesthetic, incorporating luxurious elements such as American walnut wood and marble finishes. The core architectural concept revolves around smooth, flowing lines. This is evident in the guilloché-inspired patterns on the carpets and the furniture edges, which reflect the shape of the watch cases. Additionally, the boutique is adorned with the brand’s distinctive ‘Breguet Blue’ hue.

    Customer Experience

    Montres Breguet has placed a particular emphasis on customer service within the boutique. The space includes private service areas, as well as a dedicated consultation zone. These areas are designed to create a unique, personalized customer journey through the store.

    Breguet’s Collections

    The Bangkok boutique features a selection of timepieces from Breguet’s renowned collections. Displayed prominently is the Breguet Experimentale No 1, marking the first offering in the brand’s new Experimentale collection. This watch, a product of Breguet’s research and development team, is characterized by a high-frequency tourbillon that operates at 10 hertz, ensuring impeccable timekeeping precision.

    In addition to this new collection, the boutique also offers timepieces from Breguet’s staple ranges. These include the Classique, Marine, Tradition, and Type XX collections. Notably, the Type XX watch is a mechanical chronograph originally designed by Abraham-Louis Breguet himself for the French Air Force.

    Questions & Answers

    What design elements characterize the Montres Breguet boutique in Bangkok?
    American walnut wood, marble finishes, guilloché-inspired carpet patterns, and the brand’s signature Breguet Blue color are all design elements that characterize the new boutique.

    What special features does the Breguet Experimentale No 1 watch have?
    The Breguet Experimentale No 1 watch features a high-frequency tourbillon operating at 10 hertz, ensuring outstanding timekeeping precision.

    Which collections from Montres Breguet are available at the new boutique?
    The newly opened boutique in Bangkok features timepieces from the brand’s core collections, including the Classique, Marine, Tradition, and Type XX collections.

  • Musinsa in Race for Hoka’s South Korean Distribution Rights Amid High Competition and Growing Market Demand

    Musinsa in Race for Hoka’s South Korean Distribution Rights Amid High Competition and Growing Market Demand

    South Korean fashion and lifestyle company, Musinsa, is said to be currently in discussions to obtain the local distribution rights for Hoka, a well-known performance footwear brand. The talks are reportedly taking place with Deckers Outdoor Corporation, the American parent company of Hoka, as Musinsa seeks to handle the brand’s import and distribution within South Korea.

    Interest From Major Fashion Groups

    Musinsa is not alone in its interest in the brand. Other notable fashion companies, such as Shinsegae International and LF Corp, are also rumored to be considering placing their bids. This interest underscores the intense competition for the distribution rights of Hoka within the domestic market.

    Scrutiny Over Hoka’s Current Distribution

    Hoka’s current distribution within Korea has fallen under public scrutiny due to allegations of misconduct by the CEO of its current local partner, Joyworks & Co. This has resulted in significant public backlash. Whilst Deckers has not formally announced any changes or terminations to its current distribution arrangement, these developments have led to speculation that the company might be reconsidering its local strategy.

    Increasing Demand for Hoka in South Korea

    Hoka’s footwear has been experiencing growing demand amidst a surge in participation in outdoor activities and running in South Korea. The brand’s shoes have been gaining popularity amongst consumers focused on performance and lifestyle shoppers alike.

    Musinsa’s Expansion Strategy

    Musinsa’s interest in Hoka fits perfectly into its wider expansion strategy. Last year, Musinsa established a presence in the Chinese market through a joint venture with Anta Sports, leading to the creation of Musinsa China. This move was aimed at supporting growth across both online and offline retail channels.

    Questions & Answers

    What is the current status of Hoka’s distribution within South Korea?
    Hoka’s current distribution within South Korea, managed by Joyworks & Co, has recently come under public scrutiny due to allegations of misconduct by Joyworks & Co’s CEO.

    Who is interested in obtaining the domestic distribution rights for Hoka?
    South Korean fashion and lifestyle company Musinsa, along with other major fashion groups such as Shinsegae International and LF Corp, have expressed interest in acquiring the distribution rights.

    What is driving the growing demand for Hoka in South Korea?
    The increasing participation in outdoor activities and running in South Korea is driving the growing demand for Hoka’s footwear. The brand’s shoes are gaining popularity amongst performance-focused consumers and lifestyle shoppers.

  • Damiani Group Acquires Iconic Swiss Watchmaker Baume & Mercier from Richemont

    Damiani Group Acquires Iconic Swiss Watchmaker Baume & Mercier from Richemont

    Switzerland’s luxury conglomerate Richemont has transferred the ownership of the distinguished watchmaker Baume & Mercier to Damiani Group of Italy. The financial details of this transaction remain undisclosed.

    Merging Into Damiani’s Luxury Portfolio

    Following this acquisition, Baume & Mercier will integrate into Damiani’s luxury product assortment. Damiani Group’s current portfolio consists of its own brand along with Salvini, Bliss and Calderoni – all renowned jewellery brands. Additionally, it owns Venini, a glassmaking company, and Rocca, a distributor of multi-brand watches and jewellery.

    Baume & Mercier, a Swiss luxury watch company, was initially established as Frères Baume in 1830. It started operating under its present name from 1918. The brand is globally recognized for its sophisticated and high-end wristwatches that seamlessly blend traditional craftsmanship with modern aesthetics.

    Baume & Mercier was incorporated into the Richemont Group during the latter’s formative years in 1988.

    Unlocking Long-term Potential

    Richemont has expressed that Baume & Mercier’s long-term potential can be best achieved under the Damiani Group, considering the latter’s robust presence in Italy.

    Damiani intends to boost Baume & Mercier’s visibility and market penetration by utilizing its widespread multi-brand distribution network. It also plans to establish exclusive mono-brand boutiques in select strategic locations.

    Ensuring a seamless transition, Richemont will continue to offer operational services for Baume & Mercier, for a minimum period of 12 months after the deal closure.

    The transaction is poised to conclude this summer, subject to certain prerequisites.

    Richemont’s Business Areas

    Richemont’s operations span across three primary sectors – jewellery, specialist watches, and fashion and accessories. The group’s portfolio includes esteemed watchmakers such as A Lange & Sohne, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis and Vacheron Constantin.

    In the quarter ending on December 31, Richemont reported a sales revenue of 6.4 billion euros, marking an 11% growth at constant exchange rates.

    Questions & Answers

    What is the history of Baume & Mercier?
    Baume & Mercier was originally established as Frères Baume in 1830 and began operating under its current name from 1918. It became part of the Richemont Group in 1988.

    What are Damiani Group’s plans for Baume & Mercier?
    Damiani Group aims to enhance Baume & Mercier’s visibility and market reach by leveraging its extensive multi-brand distribution network and opening select mono-brand boutiques in strategic locations.

    What are the primary sectors of Richemont’s operations?
    Richemont operates mainly in three sectors – jewellery, specialist watches, and fashion and accessories.

  • Levi Strauss Taps Vicky Skelton to Propel Growth in East Asia Pacific

    Levi Strauss Taps Vicky Skelton to Propel Growth in East Asia Pacific

    Levi Strauss & Co has recently named Vicky Skelton, an experienced executive within the company, as the new Managing Director for East Asia Pacific. This move comes as part of the denim giant’s strategy to boost growth in this key region.

    Vicky Skelton’s New Role

    Skelton will assume responsibility for supervising all commercial operations across a variety of channels in her new position. She will lead the charge in driving sustainable, long-term growth throughout the East Asia Pacific. This is a region where Levi’s has been experiencing a strong upward trend.

    The company has identified several potential growth areas including retail expansion, digital acceleration, and brand-driven growth. These opportunities are backed by a robust consumer demand for the Levi’s brand and solid local partnerships already in place.

    Gianluca Flore, the Chief Commercial Officer at Levi Strauss & Co, spoke highly of Skelton, stating that she has consistently demonstrated the ability to deliver strong results while creating high-performing, purpose-driven teams. He highlighted her role in amplifying brand momentum in Canada and expressed his confidence in her ability to replicate this success in the East Asia Pacific, setting the stage for future growth.

    Vicky Skelton’s Track Record

    Skelton has been with Levi’s for over 13 years, during which she has held several senior leadership positions across the company. In her most recent role as General Manager of Canada, Skelton implemented a more focused direct-to-consumer strategy. She was successful in providing robust commercial performance and fostering growth in the women’s category.

    Questions & Answers

    What is Vicky Skelton’s new role at Levi Strauss & Co?
    Vicky Skelton has been appointed as the Managing Director for East Asia Pacific.

    What will be her main focus in this role?
    Her primary focus will be to oversee commercial operations across all channels and lead efforts to drive sustainable, long-term growth in the East Asia Pacific region.

    What has been her contribution to Levi Strauss & Co so far?
    Skelton has been with Levi’s for over 13 years, holding several senior leadership positions. Most recently, she served as General Manager of Canada where she led a more focused direct-to-consumer strategy, delivered solid commercial performance, and accelerated growth in the women’s category.

  • Hapas Eyes $15M Boost to Amplify Omnichannel Presence and Southeast Asia Expansion

    Hapas Eyes $15M Boost to Amplify Omnichannel Presence and Southeast Asia Expansion

    Hapas, a fashion accessories retailer based in Vietnam, is reportedly setting its sights on raising a minimum of $15 million in a forthcoming funding round. The objective of this fundraising effort is to bolster its omnichannel footprint and facilitate expansion across the Southeast Asia region.

    The Role of Index Partners

    Reports suggest that Index Partners is taking on the role of sell-side advisor for the transaction. This role typically involves providing guidance on the selling strategy, facilitating negotiations, and working to ensure a favorable outcome for Hapas.

    An Impact-Linked Investment

    In 2022, Hapas received an impact-linked investment from Beacon Fund, which is the SME lending branch of Patamar Capital. This investment was reportedly influenced by the fact that 80% of Hapas’ management personnel are women entrepreneurs. Beacon Fund, however, has since withdrawn its investment.

    Specialization and Expansion Strategy

    Hapas was originally established as a provider of affordable luxury products, specializing in bags and accessories. Presently, Hapas manages 16 brick-and-mortar stores in Vietnam, and places emphasis on e-commerce platforms such as the TikTok Shop and Shopee.

    Furthermore, the company is making conscious efforts to fortify its direct-to-consumer channels to help diminish its dependence on third-party marketplaces. As part of this initiative, Hapas has commenced online sales in Thailand and is formulating plans to extend its physical retail presence to other regional markets. These include Thailand and Indonesia, and the expansion is slated to occur within the next few years.

    Questions & Answers

    What is Hapas planning to do with the new funding?
    Hapas aims to use the funds raised to enhance its omnichannel presence and to facilitate its expansion across the Southeast Asian region.

    Who is acting as a sell-side advisor for the transaction?
    Index Partners is reported to be serving as the sell-side advisor for this transaction.

    What is Hapas’ expansion strategy?
    Hapas has recently begun selling online in Thailand and aims to expand its physical retail presence to regional markets like Thailand and Indonesia in the next few years.

  • L’Oréal Pledges $383M for Indian Beauty Tech Hub: A Leap into AI-Driven Innovation and Job Creation

    L’Oréal Pledges $383M for Indian Beauty Tech Hub: A Leap into AI-Driven Innovation and Job Creation

    L’Oréal, the French cosmetics powerhouse, announced on Wednesday plans to establish a beauty technology hub in Hyderabad, a major city in southern India, supported by an initial investment surpassing 35 billion rupees (approximately US$383.4 million).

    The planned tech hub is anticipated to serve as a global hotbed for AI‑driven beauty innovation. L’Oréal aims to generate 2000 tech employment opportunities by 2030 and expedite the deployment of advanced AI beauty solutions, according to a company statement.

    The agreement detailing this new venture was officially established at the World Economic Forum in Davos by Nicolas Hieronimus, L’Oréal’s CEO, and the state government of Telangana.

    Over recent years, Telangana has swiftly risen to prominence as a crucial investment and technological epicenter in southern India.

    Trade relations between India and France have been steadily strengthening, with bilateral trade reaching $15 billion in 2024. This warming relationship is further evidenced by ongoing discussions between Indian Prime Minister Narendra Modi and French President Emmanuel Macron.

    In addition, both nations have been cooperating since 2024 to revamp their tax treaty. The aim is to modernize the agreement by integrating global standards concerning tax transparency.

    Questions & Answers

    What is the purpose of L’Oréal’s planned tech hub in Hyderabad?
    The tech hub is intended to be a global platform for AI-driven beauty innovation. It is also expected to create 2000 tech jobs by 2030 and facilitate the introduction of advanced AI beauty solutions.

    Who formalized the agreement for this new project?
    The agreement was formalized by Nicolas Hieronimus, L’Oréal’s CEO, and the state government of Telangana at the World Economic Forum in Davos.

    What major economic changes are being pursued by India and France?
    India and France have been collaborating since 2024 to update their tax treaty. This revision aims to modernize the contract by incorporating global standards on tax transparency.