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.

  • Ralph & Russo Debuts Pop-Up Shop in Hong Kong Boutique

    Ralph & Russo Debuts Pop-Up Shop in Hong Kong Boutique

    The luxury British fashion label favored by Angelina Jolie, Gwyneth Paltrow and other celebrities is getting its own starring moment in Asia. This week, Ralph & Russo celebrated the debut of a pop-up shop in On Pedder’s New World Tower location in central Hong Kong.

    The space, situated on the mezzanine level of the luxury footwear and accessories boutique, features a curated selection of some of Ralph & Russo’s most decadent shoe designs, including the floral-print satin Eden boots (which retail for $1,650) and the Eden pumps with ornamental filigree.

    The Eden pumps range in price from $1,450 for a simple style with an embellished heel, up to $2,300 for a version with Swarovski crystals.

    Ralph & RussoRalph & Russo’s Eden ankle bootie with embellished heel, $1,650.
    Ralph & RussoRalph & Russo’s Eden pumps with ornamental filigree, $1,900.

    Like its collections, Ralph & Russo designed the pop-up space with sophisticated detailing, such as oversized mirrors and wooden paneling that turn the attention firmly to the product. And a raw wood tabletop in the center of the space offers a striking artistic juxtaposition and adds natural warmth to the tableau.

    Ralph & Russo On Pedder pop-upThe Ralph & Russo pop-up space in On Pedder in Hong Kong.

    The brand’s chairman and CEO, Michael Russo, who co-founded the label in 2007 with Tamara Ralph, said in a statement, “As soon as we visited On Pedder, we knew that there was perfect synergy between our collections and the values that the store represents — both are the epitome of luxury.”

    The pop-up space will be open from now until the end of July.

  • Introducing Māzŭ Resortwear, luxury swimwear brand for men

    Introducing Māzŭ Resortwear, luxury swimwear brand for men

    Inspired by Hong Kong and Asia’s maritime history, Māzŭ allies West to East culture and quickly settles in the Asian swimwear industry.

    Māzŭ Resortwear is a Hong Kong based luxury men swimwear brand founded in 2015 by Adam Raby. The company was built upon the concept of transmitting the Asian maritime heritage to its customers. Its name, Māzŭ, stands for the goddess of the sea in Chinese, a figure which is often represented in Hong Kong temples situated by the sea. Moreover, it is no surprise for the brand’s founder that “Hong Kong has an intimate relationship with the water, as it is called Perfumed Harbour in Chinese”.

    According to Raby, “the typical Māzŭ customer would be someone who essentially cares about fashion, conscious about what he wears to look good by the pool, on its yacht or by the beach”. He defines his company as a swimwear fashion brand and distinguishes it from a functional swimwear brand.

    Going back to its debuts, the company was financially settled by a friend who injected small capitals. Today, in perspective of taking the business to a new level to better impact the market, Māzŭ is looking to raise more funds. Currently having 23 points of sale opened across Asia, the brand plans to increase its numbers up to 55 points of sale by the end of 2018.

    In order to deliver 2 collections a year; the summer collection in April and the cruise collection in November, Māzŭ tries to stay aligned with its customers’ constant needs. According to its founder, there is a shift now; “people want to look good by the water instead of being functional in the water”. Hence, his role is “all about making them feel comfortable, confident and inspired while wearing a swimwear”.

    From a marketing and advertising background, Raby thinks that branding is the key to success. So as to reinforce the brand’s image, it was also important for the founder to make sure that a Hong Kong fashion business would be manufactured in China, hence stating: “I have to believe where we are from”. For him, China is operating a shift in its manufacturing quality process, meaning that efforts are made with the help of “better workers with better skills”, to produce better quality garments.

    This philosophy has thus led Māzŭ to grow within Asia year after year, plans to develop the brand regionally and to develop new categories of products in the future. As Raby says, “the idea is that if a gentleman from Asia is looking to go on holidays to get some sun, I would like to be that one stop solution where the Māzŭ customer could go into our shop and buy anything he needs to go on a summer, beach or luxury yacht holidays.”

  • Chinese shoe brand What For, plans Europe retail rollout

    Chinese shoe brand What For, plans Europe retail rollout

    Having already launched a solid retail network in France, Chinese footwear brand What For plans to take on Europe’s neighbouring countries.

    Launching in 2008, the Stella International-owned Asian brand entered the French market in 2013, and consequently opened nine stores, with the latest boutique bowing in the Val d’Europe shopping centre in April.

    While the women’s brand grew considerably in France in 2016 with the opening of seven stores, “the goal right now is to concentrate on the brand’s international development, which boasts more than 800 multibrand points of sale across 25 countries,” said Yann Tobelaim, president of Stella Fashion Europe, the joint venture group formed by the Chinese firm in Europe.

    The new challenge for the brand, however, is finding potential store locations across metropolitan Europe. What For is targeting western Europe, including Germany, Italy and Belgium, and more specifically, cities with a strong fashion DNA such as Milan, Anvers and Berlin.

    At the same time, What For — the mid-to-high end shoe brand whose prices range between 130 and 200 euros — hopes to also continue its French expansion with the opening of a number of monobrand stores, particularly in the south and western France.

    Predominately a shoe seller, What For also sells a small line of leathergoods, which it started in 2016. Products are designed in Paris and manufactured in China.

  • Adidas’ slavery buster hopes technology can give workers a voice

    Adidas’ slavery buster hopes technology can give workers a voice

    As apparel and footwear industries rely heavily on outsourcing, sportswear companies have faced growing scrutiny. Adidas executive Aditi Wanchoo is on a mission – to wipe out any slavery in the German sportswear company’s supply chain, and she hopes giving workers the technology to speak out will help.

    With a background in corporate social responsibility at consultancy firm Accenture, Wanchoo was hired 18 months ago in a new position created by Adidas, one of the first companies to set up a role dedicated to fighting slavery.

    In recent years modern-day slavery has increasingly come under the spotlight, putting regulatory and consumer pressure on companies to ensure their supply chains are free of forced labour, child labor and other forms of slavery.

    As apparel and footwear industries rely heavily on outsourcing, sportswear companies have faced growing scrutiny.

    Wanchoo said Adidas had been actively working on this issue since it was revealed at the 1998 World Cup that footballs were produced by child laborers in India and companies realized they did not have control over their suppliers.

    Governments are now trying to tackle the problem with new legislation, such as the UK’s 2015 law requiring companies to disclose how they are ensuring supply chains are slavery free.

    “We have found that the UK Modern Slavery Act and recent legislative action in France and Australia have helped take the conversations to the boardroom,” Wanchoo told the Thomson Reuters Foundation in an interview this week in London.

    “My role was created to look at building relevant partnerships to continue our work on addressing potential modern slavery risks for our extended supply chain, i.e. our Tier 2 processing facilities and Tier 3 raw material sources.”

    Slavery has emerged as a major global problem with the Global Slavery Index by the Walk Free Foundation estimating there are nearly 46 million slaves in the world.

    The United Nations has a global goal to eradicate forced labor and slavery by 2030 and end all child labor by 2025.

    Wanchoo said she was tackling the issue in various ways such as collaborating with other companies, NGOs and governments, and training suppliers about the risks of bonded labor and the impact of recruitment fees on workers.

    Tech to give workers a voice

    She said Adidas was also on a major drive to encourage workers to speak up and use this information to eradicate slavery and improve workers’ conditions.

    The company already has “worker hotlines” giving 300,000 factory workers in China, Indonesia, Vietnam and Cambodia the opportunity to anonymously ask questions, make suggestions or express concerns via text messages and smart phone applications.

    But the company found this was not enough, and over the past year Adidas has run a pilot project in China with apps for workers to anonymously report issues – data that is collected and then analyzed.

    Wanchoo said the aim is to introduce such a system in all of the company’s 105 or so primary factories in the next five years and then look at cascading this down to second-tier suppliers.

    In Turkey these worker grievance systems had uncovered concerns about child labour and reports of illegal workers from Turkmenistan, while in Asia workers had complained about abuse by supervisors, wage issues and food, she said.

    She added that efforts to hear directly from workers was paying off. Last year campaign organisation KnowTheChain ranked Adidas top out of 20 firms, chosen because of their size, for its efforts to eliminate forced labor and human trafficking.

    “We want to make it as easy and anonymous as possible for workers,” said Hong Kong-based Wanchoo, whose official title is senior manager – development partnerships, social and environmental affairs at Adidas.

    She acknowledged this did not always go down well with suppliers who aim to keep costs as competitive as possible.

    “Sometimes there can be resistance from suppliers, but we work with them to demonstrate how this can help them in the long run by improving supply chain transparency, communication, productivity and worker retention,” she said.

  • Amazon launches entry-level celebrity-esque eyewear line

    Amazon launches entry-level celebrity-esque eyewear line

    Amazon‘s latest product launch through Amazon Exclusives is a Hollywood-backed affordable but luxury-like eyewear line Privé Revaux Eyewear.

    The line will include 100 styles of frames and polarized lenses. Each will retail for $29.95.

    The brand was founded by fashion entrepreneur David Schottenstein who comes from the same family that created DSW and American Eagle. Schottenstein has enlisted major Hollywood talent in actors Jamie Foxx, Hailee Steinfeld, Ashley Benson and Jeremy Piven. They will not only contribute to marketing but also to product development and the overall brand vision.

    Privé Revaux Eyewear is the latest brand diving in to disrupt the premium eyewear market. With heavy hitters Marchon and Luxottica holding virtually the entire market, it joins an energetic group of small brands attempting to change the landscape and make luxury eyewear more affordable. The brand’s advertising tagline is appropriately “Now everyone can be anyone.”

    “I wanted to get involved with a sunglasses company and create something that was fly and affordable for people” says Foxx.

    Privé Revaux Eyewear features styles designed to invoke iconic personas. Style names include The Supermodel and The Jetsetter. The brand’s digital campaign shows Foxx, Steinfeld, Benson and Piven asking “Who do I want to be today?” with answer being “reframe yourself”.

    In addition to digital, Privé Revaux Eyewear will release a full length video featuring the actors who will also appear in individual ads. A full catalog is available both on Amazon and on the company’s site.

    Privé Revaux Eyewear is available now through presale on the brand’s own website. It will officially launch globally through Amazon Exclusives on June 2, 2017.

  • L’Occitane taps pop idol Luhan as China ambassador

    L’Occitane taps pop idol Luhan as China ambassador

    Asian pop idol Luhan is the newest celebrity brand ambassador for L’Occitane in mainland China. The south of France brand, which produces plant-based skincare and cosmetics, has featured Luhan on the brand poster of the L’Occitane Cherry Blossom body and hand-care collection. He is pictured standing in front of the pink blossoming cherries dressed in black.

    Drawing inspiration from Provence cultures, L’Occitane develops skincare, haircare, bodycare, handcare and make-up products, as well as a home collection and fragrances.

    In China, L’Occitane products are distributed by L’Occitane Trading (Shanghai).

    China is proving an emerging market for the French firm’s global division, as increasingly discerning Chinese consumers start to turn to natural and organic beauty products.

    L’Occitane International saw its interim net profit jump 33.9 per cent for the six months ending September 2016, as earnings climbed to 25.99 million euros from 19.41 million euros year on year. Net sales edged marginally up by 1.3 per cent to 551.7 million euros.

    Emerging economies Brazil, Russia and China were singled out as the top performing markets, it said.

    The mainland has become the company’s second largest market after the United States in terms of the number of outlets. Eight locations were launched in China in the first nine months of the year.

  • Zara stays strong in Australia despite profits slowdown

    Zara stays strong in Australia despite profits slowdown

    While some chains struggle in the Australian market, Inditex’s Zara is committed to the country and is seeing its operations growing although profit has fallen, according to local press reports.

    On Wednesday, the same day that rival Topshop’s local franchisee announced a voluntary administration filing, The Age reported that the Spanish chain by contrast has enjoyed another year of double-digit growth in the country.

    It saw A$256.36m in sales in the year to January 31 2017, boosted by the opening of three new stores in the Sydney suburb of Parramatta, the Gold Coast and Brisbane. That figure was up 15.5% year-on-year, although this was slower than the 24% rise seen in the previous year. And its profit was slower too with the company making A$10.3m compared to $15.26m in the prior year.

    Like Topshop, Zara arrived in Australia in 2011 and had 18 stores by the end of January this year. It had 1,700 employees, several hundred more than it had working for it in Australia a year earlier.

    The local operation is 90% owned by Inditex and 10% by Peter Lew through his International Brand Management unit. Lew is the son of retail entrepreneur Solomon Lew.

  • Australia Topshop franchisee in administration, but says it’s business as usual

    Australia Topshop franchisee in administration, but says it’s business as usual

    The franchisee for Arcadia’s Topshop and Topman said Wednesday that it has filed for voluntary administration. Austradia Pty Ltd has named Ferrier Hodgson partners James Stewart, Jim Sarantinos, and Ryan Eagle as its administrators.

    But Stewart said in a regulatory announcement that it will be “business as usual”  as the administration team “works closely with Arcadia Group on supporting and right-sizing the Australian business to a sustainable platform going forward.”

    Stewart said that the 760 employees will continue to be paid by the administrators and normal customer policies such as gift cards and product returns will continue during the administration period.

    It seems clear that the Topshop and Topman names will survive in the Australian market with a clear demand there for its particular brand of trend-focused fast fashion. Topshop/Topman has been operating nine standalone stores, 17 Myer concessions and an online business in Australia and has enjoyed annual sales of around A$90m.

    The separately owned and operated Australian franchise opened locally in 2011 and Myer owns around one-fifth of the operation. Earlier this year Myer said that losses at the Topshop operation grew to A$0.6m in H1 from A$0.1m a year earlier.

    Its administration filing is further evidence that times are as tough for fashion retailers in the country as they are in many other countries around the world, even for some of the biggest names in affordable fashion.

    The arrival of more global chains in the local market and an increasing move by consumers towards e-sales have added to the competitive pressures at a time when shoppers are also re-assessing where and how they spend their discretionary cash. And the arrival of Amazon this year will not make the retail environment any easier with local chains that have been battling sluggish sales likely to see even more market share seeping away.

    Myer has itself seen challenges on the sales front with the company reporting a 3.3% sales drop for Q3.

  • ShopWorn Brings Luxury to a New Generation of Online Shoppers

    ShopWorn Brings Luxury to a New Generation of Online Shoppers

    ShopWorn has come into its own in recent months thanks to the brand’s ongoing engagement with customers on all things style and fashion, led by Ecommerce Director and Resident Stylist Elana Birnbaum. With a keen eye for quality and style, insider industry knowledge, and expert insight into consumer needs, Elana interacts daily with customers across multiple channels where she frequently lists trend updates and new product arrivals. Elana is helping bring awareness to ShopWorn’s unique shopping concept to a new generation of savvy online shoppers.

    Working with ShopWorn’s global procurement team, Elana plays a pivotal role in curating and merchandising the website’s continuously changing collection of authentic display-model products including watches, jewelry, handbags, and more. Sourcing these unsold display model products directly from authorized retailers means that ShopWorn has evolved into the equivalent of an online sample sale for designer goods featuring more than 45 notable brands, including Dior, Chopard, Cartier, Rolex, Tudor, Bvlgari, Hublot, Carl F. Bucherer, and Montblanc. Elana gives a personal voice to ShopWorn through blog posts about the latest trends, interactions with fans over social media, product highlight videos, and lifestyle photoshoots. With an inside view of the business from every angle, she provides insight into how ShopWorn offers a new way to shop luxury:

    “I really believe that ShopWorn is the antidote for shoppers who want the finer things – but at a great value. Today’s shopper is savvy and knows how to search the internet for deals, and ShopWorn is able to offer excellent prices on coveted designer goods. ShopWorn acts like an online sample sale or trunk show by offering high-quality designer products that are inherently limited in quantity. Like a traditional brick-and-mortar sample sale, our products move quickly and are sometimes up on our website for less than 24 hours. However, unlike traditional sample sales, our door never closes, you’ll never need to wait in line, and you have 24/7 help easily available. The concept has really resonated with our savvy shoppers who appreciate high quality designer pieces at great prices.” – Elana Birnbaum, ShopWorn E-Commerce Director and Resident Stylist

  • Uniqlo steps foot in Davao

    Uniqlo steps foot in Davao

    It was the brand of a polo shirt I received as pasalubong from a Japanese friend way back in the early 2000s. Everyone would agree that this apparel brand has been a favorite pasalubong from relatives and friends working in Japan or have visited that country every time they return home in the Philippines, be it fashion wear for kids, teens and adults, male and female alike.

    Indeed, Uniqlo has become a favorite shop store among Filipinos in Japan, the reason it entered into partnership with Henry Sy-controlled SM Retail for its expansion in the Philippines in 2012.

    In June of the same year, retail giant SM Supermall opened Uniqlo’s first store in the country at the SM Mall of Asia with a promise to make it a leading fashion wear brand by year 2020, targetting to open at least 200 branches.

    Since then, the Japanese fast fashion retailer Uniqlo continued to massively expand with 36 branches now operating in different key cities in the Philippines, most of which are in Metro Manila.

    Five years after it established its maiden store in the country, Uniqlo announced it is finally stepping foot on the island of Mindanao, at SM Lanang Premier in Davao City, where the brand’s 37th store and the first in Mindanao will be opened.

    The announcement indeed made Dabawenyos to get excited, especially the fashionistas, who are fond of the brand. For sure, shoppers are expecting a different shopping experience in Davao City with the store’s opening.

    Uniqlo is known for its high quality designed wardrobe essentials made with innovative fabrics at a very affordable price.

    But before it formally opens its doors on May 26, SM and Uniqlo will hold on Wednesday, May 24, the Mindanao launch, an exclusive event for media and very important guests to have a glimpse of what’s in store for Dabawenyos.

    Guests will be toured within the 1,200 square meter space occupied by the store at the ground level, near the main entrance of SM Lanang.

    Uniqlo’s SM Lanang branch is one of the three stores that are set to open in Mindanao. On June 2, the store’s 38th branch will be opened at SM City Ecoland, also in Davao City. By end of June, the 39th store will be opened at SM Cagayan de Oro Downtown Premier.

    “We are committed to growing our business in Mindanao, and look forward to delighting our customers in this region for years to come…We aim to make the lives of the Filipinos better through our innovative and high-quality Uniqlo Life Wear pieces,” Uniqlo Philippines chief operating officer Katsumi Kubota was quoted as saying in earlier reports.

    Uniqlo stores showcase a full line up of Uniqlo Life Wear, an innovative, high-quality clothing collection that is universal in design and comfort made for everyone.

    Also available are Uniqlo’s Heattech and Airism, the brand’s proprietary technology clothing lines. Airism is Uniqlo’s line of functional innerwear that solves a variety of discomfort by controlling sweat. The clothing line features quick-drying technology that keeps skin smooth and dry when perspiring. Meanwhile, the Heattech collection is an innerwear line that features heat retaining properties to keep the wearer warm and a soft tecture to keep the wearer comfortable.

  • Kenzo Kids deploys its unique style in store-in-stores and international boutiques

    Kenzo Kids deploys its unique style in store-in-stores and international boutiques

    Kenzo was revitalised by its 2011 change in creative direction, with the arrival of Opening Ceremony founders Carol Lim and Humberto Leon at the helm. The change has also benefitted the label’s children’s line, Kenzo Kids, for which the Kidiliz group (ex-Zannier) has held the licence since 2006. In fact, in a very competitive childrenswear market, Kenzo Kids has recorded annual growth fluctuating between 20 and 30%.

    The reason for its success? An urban style coupled with strong iconography – in the form of the tiger and eye brand motifs – which has proved appealing to a wider and more international clientele. “Under Antonio Maras, the Kenzo Kids style was closer to Catimini – fresh and feminine. Now it’s more on-trend so our network has changed. We are more international, in the department stores, in pure-player, designer-oriented stores,” explains Anne Michailidis, Head of Sales and Marketing of the three designer brands under Kidiliz.

    Resulting in the Kenzo Kids line being distributed at 750 sales points worldwide and even the opening of its own first monobrand boutiques. The first opened in Singapore in February (next to Paul Smith Junior) and others are planned for Hong Kong and Dubai. In Europe, the line is present in the form of stores-in-stores, expressing the world of Kenzo Kids across 30-square-metre spaces. Some 20 openings are forecast this year, including at La Rinascente in Milan. In France, the line is stocked at Printemps and at Galeries Lafayette Haussmann, with a network set for further development.

    Another ‘new’ feature: the line is aimed at boys as much as at girls, whereas previously the line was oriented almost exclusively towards girls. “Since winter 2016 we have had as many girls’ garments as boys’, and customers come to us for both, which is rare for children’s labels,” explains Michailidis.

    Every season some 350 Kenzo Kids items are available, from children aged 0-16 years. The price range is from around 50 euros for garments such as T-shirt to 200 euros for more ‘inspirational’ pieces from the runway. “We work directly with the parent company, we attend the show, we visit the showroom and keep the strongest design elements and use it to up our childrenswear savoir-faire,” says Laetitia Orlandi, head of collections at Kenzo Kids, who adds that her objective is to create for Kenzo Kids its own style world without imitating the adult version. In ‘kid format,’ the famous Kenzo tiger is surrounded by new friends including a little wolf with an extraordinarily long nose, and the Kenzo eye gives a mischievous wink.

  • Off-White opens second Hong Kong store, launches capsule line

    Off-White opens second Hong Kong store, launches capsule line

    Cult luxury streetwear brand Off-White continues its retail expansion in Asia with the opening of its second location in Hong Kong. Helmed by designer Virgil Abloh, the newest Hong Kong store opened last month, with the announcement of capsule collection – to be exclusively available at Off-White stores in Hong Kong – breaking news this week.

    The two-tiered, 746-square-foot space is designed by Virgil Abloh himself, and boasts an industrial finish with a concrete bottom floor and exposed interlocking metal rods that make up the ceiling. The factory setting is juxtaposed against gold countertops and fixtures, and a mint green curtain and matching carpet on the top floor.

    Marking the brand’s second Hong Kong location, Off-White has dropped a 10-piece capsule collection to coincide with the store debut.

    The Hong Kong collection features both men’s and women’s apparel and accessories, including t-shirts, sweatshirts, jeans, denim cut-off shorts, as well as socks, backpacks and a handbag; the latter features a strap with Off-White’s signature slant line pattern and an additional pink strap. The other collection pieces come stamped in a moniker ‘X’ arrow design and a 3D line pattern.

    Launching in 2013, under the helm of Virgil Abloh, Off-White has continued to expand its retail presence rapidly. With a specific focus on Asia, Off-White has two mainland China locations, including one in Shanghai’s I.T. department store and one in Beijing’s Galeries Lafayette.

    It currently operates ten stores around the world in Hong Kong, Beijing, Shanghai, Tokyo, Seoul, Singapore, London and Toronto. Off-White is planning a New York store this year.

  • Decathlon to open first Hong Kong stores in August

    Decathlon to open first Hong Kong stores in August

    Decathlon will open its first Hong Kong store this year, with plans for two locations – one in Mong Kok and the other in Causeway Bay.

    The French multibrand sports retailer will bow its first Hong Kong stores in Mong Kok Grand Plaza Basement and Causeway Bay Park Lane, according to a post on Decathlon Hong Kong’s Facebook account.

    While store specifics or dates have not been given, Decathlon Hong Kong said the openings would take place in August.

    “Finally, your new sports stores open in August,” said a post on Facebook.

    Decathlon first entered Hong Kong in 2015 with the launch of country-dedicated website and e-commerce platform.

    In February 2017, the French group reported a 12% lift in revenues during 2016 (+4.4% on a like-for-like basis), reaching 10 billion euros, excluding taxes.

    Earlier in the year, it launched sub-brands Itiwit — a paddle-board line, and Subea — an underwater sports brand, to bolster its current sporting goods offering

    A recent report published by corporate finance advisory firm Capitalmind pinned the global sporting goods market at $388 billion in 2015, up 5%. The report said Intersport, Decathlon and Foot Locker currently dominate the sporting goods distribution market worldwide.

  • Vietnamese footwear manufacturers ignore local market

    Vietnamese footwear manufacturers ignore local market

    Doan Ngoc Hieu, managing director of Leedo, confirmed that foreign countries were the target markets for most companies. Very few companies try to exploit the domestic market because they think big Vietnamese footwear manufacturers such as Asia and Biti’s hold much of the market share.

    However, there is still large room for Vietnamese manufacturers in the home market, as there is high demand for footwear makers.

    Hieu noted that the majority of Vietnamese footwear companies are household-run ones which follow old management ways. However, the companies need new management technologies to do business more effectively.

    Doan Ngoc Hai, the father of Hieu, established Le Doan Company in 1990, the predecessor of Leedo. By the end of 2015, Leedo had 300 workers and two workshops, one in Long An province and the other in Binh Chanh district of HCMC.

    Leedo provides 40 percent of PU soles in HCM City, churning out 4 million soles and 1 million pairs of footwear products a year.

    Hieu noted that with the old management method, companies didn’t pay much importance to marketing or sales. They just focused on wholesaling, supplying products to wholesalers at markets.

    However, he believes that companies need to change, because it is now the digital era, when Facebook and internet are popular.

    Hieu and his father argue about whether to bring Leedo’s products to international trade fairs to promote the brand. He also thinks that it is necessary to spend money on ISO and other certificates.

    “One cannot go far in the world market if he does not have certificates,” he commented, adding that footwear companies need to reform management to catch up with the times.

    According to the Taiwan Footwear Manufacturers Association, Vietnam’s footwear exports will increase by 20 percent this year thanks to free trade agreements, including TPP.

    Its shoe and handbag exports increased by 16 percent in 2015 with turnover of $15 billion in 2015, including $12 billion from footwear and $3 billion from handbags.

    Vietnam is the world’s third-largest shoe manufacturer, after China and India, and is the third largest exporter, after China and Italy.

    Vietnam expects a 20 percent growth rate in footwear exports in 2016 due to a number of new free trade agreements including the Transpacific Partnership (TPP).

  • Richemont acquires 5% stake in Dufry

    Richemont acquires 5% stake in Dufry

    In big breaking news, Richemont Luxury Group has taken a stake of just over 5% stake in the world’s leading travel retailer Dufry.

    Under Swiss Stock Exchange (SIX) regulations, any holding of more than 3.0% must be publicly disclosed with 24 hours. Richemont Luxury Group is the direct shareholder while the beneficial owner/persons that can exercise the voting rights at their own discretion is Compagnie Financiere Rupert of Geneva, Switzerland.

    Richemont has picked up 2,693,856 rights and voting rights, respectively and precisely 5.000001 % as a percentage of voting rights.

    The surprise news comes hot on the heels of HNA Group of China acquiring 16.79% of Dufry.

    Richemont owns several of the world’s leading luxury goods companies, with particular strengths in jewellery, luxury watches and premium accessories.

    The Group’s luxury interests encompass several of the most prestigious names in the sector, including Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC Schaffhausen, Panerai and Montblanc.

    Richemont’s arch luxury goods rival LVMH is the majority shareholder in Dufry sector peer, DFS Group. Co-Founder Robert Miller remains DFS’s co-owner.

    In the year ended 31 March 2017, Richemont posted a -4% decrease in sales, which it said reflected a growth in retail sales offset by a decline in wholesale business. Operating profit fell -14%.

    The second half of the year, though, saw an improvement. The USA, Richemont’s largest market, resumed growth while Mainland China, now the Group’s second largest market, enjoyed strong growth along with South Korea, the UK and Macau.