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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.

  • Longchamp opens Shanghai flagship, plans more China stores

    Longchamp opens Shanghai flagship, plans more China stores

    Longchamp has opened a new China flagship store in Shanghai, with plans for the French luxury brand to open another flagship store in Beijing later in the year.

    Located at the Jing An Kerry Centre on Shanghai’s Nanjing Road West, the new Longchamp flagship offers the biggest selection of fashion, bags and accessories from the Parisian leathergoods brand. This includes women’s ready-to-wear, shoes, handbags, leather accessories, as well as men’s collections and luggage bags.

    According to Longchamp CEO Jean Cassegrain, the luxury brand is considering opening stores in the country’s capital, and in second-tier cities such a Changsha.

    “There is a potential for us to open stores at new locations and there are still cities where we are not present,” Cassegrain told China Daily this week.

    “In October, we will open a new store in Beijing, at a landmark shopping mall on Wangfujing Street,” he added.In addition to physical stores, Longchamp products are available for purchase in China on social media platform, WeChat, via the Longchamp account. According to the CEO, e- and m-commerce are yet to be fully explored in the Asian market.

    “It is our plan to continue developing online channels in China,” he said.

    Longchamp’s retail push comes as experts predict the return of luxury spending in China over the next three years. In a report, Bain Consulting Group said the proportion of global luxury consumption accounted for by Chinese consumers would increase from the current 30% to 35% by 2020.

    Longchamp currently has 18 stores in China. It counts 1,500 points of sale across 80 countries spanning exclusive brand and franchise stores, department store concessions, multibrand leathergoods stores, airport stores and online sales. The brand directly manages more than 300 points of sale through 21 distribution subsidiaries.

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  • Lacoste unveils expanded retail space at Don Mueang International Airport

    Lacoste unveils expanded retail space at Don Mueang International Airport

    Lacoste has opened its revamped Sport corner at Don Mueang International Airport Terminal 1.

    Lacoste kicks off its new Sport concept at Don Mueang Airport.

    The space has been enlarged and upgraded to feature Lacoste’s new Sport concept. It now offers additional options for customers alongside the brand’s signature polo shirts and leathergoods ranges.

    Don Mueang International Airport, Asia’s oldest international airport, recorded 35 million passengers in 2016.

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  • Louis Vuitton plans first airport duplex boutique for Changi

    Louis Vuitton plans first airport duplex boutique for Changi

    French luxury maison Louis Vuitton will open its first duplex boutique in an airport early next year, opting to bow the store inside Singapore’s Changi Airport.

    Opening January 2018, the duplex boutique will be located in Changi’s new ‘Crystal Garden’ in Terminal 3’s Departure Transit Hall.

    Covering 530 square metres and two levels, the new space will feature tiered garden beds with a selection of flora and spheres of artisan glass sculptures. It is the first time the airport is integrating a feature garden with a retail store, and first airport boutique for Louis Vuitton to span two levels.

    The Changi debut is also the first airport store in Asia Pacific to be directly managed by Louis Vuitton.

    “Singapore Changi Airport is such an important location for us, and we are happy to offer this new store, not only to our Asian customers but also the international travelers who transit by this airport,” said Michael Burke, Chairman and CEO of Louis Vuitton, via a press release.

    Louis Vuitton will be the latest addition to Changi Airport’s retail fold, which boasts more than 360 retail stores sprawled over 76,000 square metres of floor space.

    “We are thrilled to partner with Louis Vuitton, who shares our vision to redefine the future of luxury retail in an airport,” said Changi Airport Group chief executive officer Lee Seow Hiang.

    “The revolutionary duplex store, set amidst an elegant Crystal Garden, will become a distinctive attraction for passengers who fly through Changi Airport, and we look forward to embarking on an exciting journey of discovery with them when the store opens.”

    Changi Airport generated retail sales of S$2.3bn in 2016.

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  • Chloé opens a new store in Singapore

    Chloé opens a new store in Singapore

    To inaugurate the opening of the first Chloé boutique in Singapore at The Shoppes at Marina Bay Sands, the Maison has created a limited edition Faye bag inspired by the iconic local symbols of the orchid and the phoenix.

    The Faye, adorned with a colourful, decorative patchwork crafted from smooth calfskin and supple suede, is finished with light gold and silver hardware. Only eight pieces of the exquisite bag are available for sale.

    The boutique it celebrates is no less gorgeous. Situated on Level One of The Shoppes, the 184 meters square space boasts an expansive glass storefront, robust architectural details, and a play of rough and delicate textures. Also, expect Chloé’s signature palette to be present: from powdery rose beige to shades of white and a touch of mustard, all brought to life by the glow of brushed or polished natural brass.

    Accessories are the first thing you will see upon stepping into the store; handbags and small leather goods are presented in luminous shelving framed in brushed brass, or beneath the glass cabinets..

    Ready-to-wear is separated from accessories by warm wooden archways and several steps. Here, the stone floors meet a central ‘carpet’ of golden spider marble. Ready-to-wear styles are suspended on oxidised brass racks or presented on white mannequins suspended from the ceiling, with jewellery, sunglasses, and scarves displayed nearby.

    And if you are keen to try on anything, boudoir-style fitting rooms hidden behind sliding doors feature elegant textile screens for added intimacy. Very Chloé.

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  • Furla buys back Australian distribution from Luxury Retail Group

    Furla buys back Australian distribution from Luxury Retail Group

    Furla Group announced the buyback of the Australian distribution network from its distributor, Luxury Retail Group (LRG). Furla opened the first boutique in Westfield Sydney in December 2013, and now has 15 stores in Melbourne, Sydney, Brisbane and Gold Coast.

    Furla acquires 100% of the distribution network, reaffirming the brand’s vision of further strengthening its presence in Australia and New Zealand. This year, Furla plans to open 5 more stores in Australia and New Zealand, beside enlarging the existing Westfield Sydney boutique: by the end of 2017, the network will be made up of 20 Furla stores.

    “Australian market is very important for Furla and crucial in our expansion plan. Since 2013, Luxury Retail Group has been the best key partner to work with as it perfectly embodies the Furla vision, values and DNA: this is the reason why the two LRG directors will remain as board members of Furla Australia” said Alberto Camerlengo, Furla Group CEO, “We expect that in 2017 Australian business will represent the 5% of the global revenues, we are very proud to announce this acquisition. We aim to enhance the distribution in this Country given the success of the Furla retail strategy and the very positive response of Australian customers”.

    “We believe the timing makes sense for Furla to reacquire its distribution.” Nelson Mair, Managing Director of LRG also added, “After having achieved 95% sales growth in 2016, this vertical integration of Furla Australia will better equip the business for the next phase of its growth. I am extremely proud of my team and what they have been able to achieve in such a short space of time and thankful to Furla for trusting their wonderful brand to us”.

    Furla has a direct presence in 100 countries; with 444 monobrand stores that are split evenly between directly-owned boutiques and franchises. The Company also has distribution in multibrand and department stores in 1,200 international locations.

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  • Under Armour braces for first loss since IPO

    Under Armour braces for first loss since IPO

    Under Armour is poised to report its first quarterly loss since going public in 2005, a setback for a high-flying growth company that’s already had a tumultuous start to the year.

    The sports-apparel maker in January cut its growth forecast, sending the stock plummeting. Soon after, Chief Executive Officer Kevin Plank’s favorable comments about President Donald Trump sparked a consumer backlash. Plank, who founded the company, also raised eyebrows this month when a proxy filing showed that businesses he controls received $73 million in payments from Under Armour.

    “Under Armour has gone from being an incredibly loved stock to now having a lot of concern around it,” said Simeon Siegel, an analyst at Instinet LLC. Negative sentiment on Wall Street, he said, “has hit a fever pitch.”

    On Thursday, the athletic brand will probably post a loss of about 4 cents a share in the first quarter, according to the average of analysts’ estimates. Revenue projections call for 5.9 percent growth to $1.11 billion. That would mark the company’s first dip below double-digit gains since the height of the recession in 2009.

    Under Armour’s prospects have done an about-face as it struggles to recapture the rapid growth that saw revenue double about every three years. Plank has blamed the company’s woes on overall retail weakness and store closings, including the liquidation of key customer Sports Authority. The result has been a glut of merchandise, meaning profit margins took a hit as discounting was needed to clear it. In January, the company lowered its forecast of 2017 revenue growth to as much as 12 percent from the low-20-percent range.

    Under Armour shares have fallen 33 percent this year after dropping 30 percent in 2016. They slid 0.5 percent to $19.44 at 9:35 a.m. in New York on Wednesday, with its price trading at about half the level of seven months ago.

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  • Dior launched new Tokyo store

    Dior launched new Tokyo store

    Christian Dior launched its new Tokyo store with a fashion show in the rooftop gardens of a luxury mall, where models showed new looks from its creative director Maria Grazia Chiuri.

    Underlining Dior’s connection with Japan, which is an “important market” for the fashion brand, Chiuri drew her inspiration from cherry blossoms and Christian Dior’s 1953 “Jardin japonais” dress for her latest creations.
    Dior Ginza’s champagne-fuelled opening on Wednesday came as spending by visitors to Japan reached record levels, but growth has slowed due partly to Chinese tourists buying less.

    But Sidney Toledano, chief executive of Christian Dior Couture, said on Wednesday he was not concerned about cycles in tourism, which he has seen go through many phases during two decades running the French fashion house.

    “What we want to do in Japan is look for the local market. We look for the Japanese customers,” who have long been “super customers for luxury and high fashion,” he said.

    “Our business is not based on the tourist business … my objective always in a country is to have a very strong local plan,” said Toledano, who is also CEO of Christian Dior SE, the holding company for luxury group LVMH.

    As well as revealing the eight new lines from Chiuri, Dior used the occasion to present the autumn 2017 collection from Dior Homme for the first time.

    The new boutique occupies five floors in Ginza Six, the largest retail facility in the popular Tokyo shopping district with 241 stores, half of which are flagships. Other luxury brands’ stores include Celine, Saint Laurent and Valentino.

    Ginza Six sees tourists as a key target as the Japanese government aims to nearly double the number of overseas visitors to an annual 40 million by 2020, when Tokyo hosts the Olympics.

    Japan‘s market for personal luxury goods was worth €22 billion ($23 billion) in 2016, ranked second after the United States, with tourists accounting for 30% of revenue, according to Bain & Company.

  • Pandora opens first store in India

    Pandora opens first store in India

    Denmark-based jewellery brand Pandora has entered India’s jewellery market by opening its first store in the country. Pandora has granted exclusive distribution rights for their jewellery in India to Pan India Charms & Jewellery Private Limited (Pan India).

    The concept store is located on the ground floor of DLF Mall in Noida and carries Pandora’s jewellery collections, including the brand’s Moments collection, the Essence collection as well as the Rose collection.

    “The modern aspirational Indian woman is a section that represents the veering away from wearing predominantly gold jewellery and becoming more fashion conscious and finding unique ways to express their style. Making the brand Pandora accessible to these very customers is what excited us to pursue this business,” Devika Bakshi and Kanika Bakshi Talwar, Managing directors of Pan India, said in a joint statement.

    Through its distribution partner Pan India, Pandora is aiming to establish branded sales distribution focusing on concept stores and shop-in-shops, initially in Delhi, Mumbai and Bangalore.

    Pan India is expected open around 50 concept stores in India over a three year period, with around five stores expected to be opened in 2017.

    The jewellery market in India, which is predominantly a gold and diamond market, is one of the largest jewellery market in the world and in 2015 had a value of INR 2,947 billion (approximately DKK 300 billion), corresponding to an increase of 18% compared to 2014.

    In the period 2016-2021, the market is expected to grow with a compound annual growth rate (CAGR) of 7%, according to Euromonitor.

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  • Victoria’s Secret to open mega store in Macau

    Victoria’s Secret to open mega store in Macau

    Victoria’s Secret will open a new mega store in Macau on April 27, as the US brand eyes further Asia expansion, following its China debut store opening last February.

    Under parent company L Brands, the 15,000-square-foot Macau full assortment store  — which not only sells its branded accessories and cosmetics but lingerie and sportswear — will bow at St Mark’s Square at The Venetian.

    In addition to the latest collections and pieces, the store will showcase five sets of Victoria’s Secret angel wings – all of which have featured on the runway of past Victoria’s Secret shows. The curate will be on display at The Venetian from April 26 to May 31.

    The news comes as the fashion lingerie conglomerate opened its first standalone store in mainland China in February. The four-story, 25,850-square-foot flagship opened in Shanghai, followed by a 12,294-square-foot store debut in Chengdu one week later. A Beijing store is coming later this year.

    Meanwhile, Victoria’s Secret’s Asia expansion is also taking on a flagship store in Hong Kong. The brand is reportedly taking up prime location in Causeway Bay, the former residence of Forever21. It is slated to open in Hong Kong next year.

    Fellow lingerie maker La Perla has already opened a four-storey flagship store in Causeway Bay in late 2015, located on the iconic, and expensive, Russell Street.

    More and more international retailers are renewing leases in the region as tents in Hong Kong continue to drop, especially in Causeway Bay.

    According to a recent report by Everbright Property Investment Consultancy. For the first quarter of 2017, major lease transaction records in Hong Kong’s high-traffic tourist areas — including Central, Causeway Bay, Mong Kok and Tsim Sha Tsui — featured drops in monthly rents of up to 72% in some cases.

    On average, Causeway Bay witnessed the sharpest rent price decline for the period, down 31%, the report said.

  • Chopard Malaysia reopens Suria KLCC store

    Chopard Malaysia reopens Suria KLCC store

    Chopard Malaysia has reopened its store in Kuala Lumpur, showcasing a refurbished space in Suria KLCC.

    Located on the ground floor of the shopping mall, the boutique is one of three Malaysian stores for the high-end Swiss jeweller, with the other two located in the Starhill Gallery and Pavilion KL.

    Upon entry, a display island sits in the centre of the boutique, crowned by a chandelier, hanging over the cabinet. The new store, which features mid-century wooden colours and diamond-y white lights, is sectioned by both men’s and women’s corners of the store.

    The updated store returns with Chopard’s classic pieces such as Happy Diamonds and Happy Sport, featured alongside the newest Chopard collections, Happy Dreams. The latter is a classy interpretation of cloud shapes, accentuated with diamonds and mother-of-pearl.

    His Excellency the Ambassador of Switzerland Michael Winzap attended the store reopening, alongside Francis Tan, COO of Suria KLCC, and Chopard Malaysia’s general manager Karen Teh.

    Suria KLCC is Malaysia’s premier shopping destination located at Kuala Lumpur prestigious commercial address, the Kuala Lumpur City Centre (KLCC). Set over six levels, it offers an array of goods and services including fashion, food and entertainment.

    Chopard was founded some 160 years ago and remains as one of the last jewellery and watchmakers to be family owned. It is currently helmed by siblings and co-presidents Karl-Friedrich and Caroline Scheufele.

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  • Kao’s net income up 16% in Q1, yearly forecasts confirmed

    Kao’s net income up 16% in Q1, yearly forecasts confirmed

    Japanese cosmetics group Kao has posted a 16% rise in net income in the first quarter 2017, boosted by rising sales in Asia and reductions in costs, and has confirmed its prudent annual forecast.

    Between January and March, the group’s net income rose to JPY24.17 billion (nearly €200 million based on the exchange rates applied by Kao), while EBIT grew 12% reaching JPY38.6 billion.

    The profitability results come on the back of a 3% rise in revenue for Kao, up to JPY345.18 billion. Excluding exchange rate effects, revenue was actually up 8.6%, driven by solid skincare and personal care product sales in Japan and Asia.

    In Japan, where the group generates two thirds of its revenue, sales slumped slightly within a stagnating market. Demand by tourists, especially Asian ones, also recorded a shortfall, having been very strong in the last few years but being very sensitive to exchange rate fluctuations. The group is hoping to improve its performance thanks to a series of new cosmetics launches in the second part of the year.

    Elsewhere in Asia, revenue rose by 11.4%, with “solid growth in China, Indonesia and other countries.” At constant exchange rates, the increase was as high as 23.4%.

    Revenue was on the up in other regions too, growing 10.8% in the Americas and 2.2% in Europe.

    Kao’s consumer goods brands (beauty, house cleaning and diet food) were flat overall, but the chemical products division was very positive, up 14.7% as the trend of the infrastructure market improved in Japan, and Chinese automotive production was also buoyant.

    In terms of annual results, Kao has confirmed the forecasts published in February, with sales growing 0.9% to JPY1.470 trillion, a net income of JPY138 billion (+9%) and an EBIT of JPY200 billion (+7.8%), all of this within a “tough competitive environment.”

  • Adidas China to open 2,000 new stores by 2020

    Adidas China to open 2,000 new stores by 2020

    Adidas AG plans to open 2,000 new stores in China by 2020, after the sports group’s business in the Asian nation grew nearly 30% last year, making it the second-largest market in the world after Western Europe.

    According to local media reports, Adidas AG – which covers Reebok, TaylorMade and Reebok-CCM Hockey, as well as the its namesake Adidas – is eyeing 12,000 stores in China by 2020, adding to the 10,000 stores it already has there.

    Adidas’s Reebok brand also plans to open 500 new stores in China by 2020, as per reports.

    In 2016, Adidas recorded sales of 3 billion euros ($3.26 billion) in China on the back of updated products, new stores (Adidas opened 1,000 stores in the country), and the development of e-commerce.

    Colin Currie, managing director of Adidas in China told China Daily that round 50% of the group’s revenue comes from 23 major cities in China. Adidas is present in more than 1,000 cities, and in therefore, wants to open stores across 2,000 cities in China.

    “We believe smaller cities will give us 50% of our growth in the coming years,” Currie said.

    Moving forward, Adidas CEO Kasper Rorsted also said on a recent visit to China in late April that e-commerce would be a huge driver for its business going forward in China.

    “China has one of the most sophisticated e-commerce and digital landscapes in the world, which we plan to make extensive use of,” said Rorsted.
    Adidas sold 43 million euros worth of product over China’s Singles Day last year. Rorsted said Adidas is intent on learning how to connect its physical locations to digital channels, for a smoother customer experience.

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  • Chow Tai Fook to open its first branded boutique in the US

    Chow Tai Fook to open its first branded boutique in the US

    With Hong Kong-listed jeweler Chow Tai Fook recently laying claim to the world’s most expensive cut diamond ever—sold at a Sotheby’s auction on April 4—the increasingly iconic Jewellery Group this week announced the further expansion of its global footprint, with the opening of its second American retail outlet, and the company’s first own-branded boutique in the United States.

    Chow Tai Fook, who last November opened its first stateside store in Macy’s NYC, revealed on Monday that the second store will be opening in the heart of Honolulu, Hawaii, situated at T Galleria by DFS. The LVMH-owned duty-free retailer rebranded its worldwide T Galleria stores back in 2013, with the hope of attracting China’s increasingly sophisticated millennial consumers—and chose its Hawaii location in which to announce the renaming of its non-airport Galleria locations. Four years on, and the duty-free mall will next month be the location for the opening of Chow Tai Fook’s 970-square-foot-store, looking to capture the attention of wealthy travelers visiting the surrounding luxury resorts and beaches.

    With Chinese tourists recently reported as the only group of travelers for whom Donald Trump’s presidency has made it more likely than ever for them to visit the United States, the current political climate encourages luxury outlets to increasingly target Chinese consumers from within America. The Chow Tai Fook Jewellery Group currently boasts an extensive network consisting of over 2,300 retail points globally, with more than 2,000 jewelry and luxury watch outlets in Greater China.

    According to company Managing Director, Kent Wong, Chow Tai Fook will be “looking to capture the vast growth potential of leisure spending in the Hawaii market” and take advantage of the Hawaiian capital of Honolulu as both a popular holiday location, and a frequent luxury honeymoon and wedding destination. Aiming to entice consumers from both home and abroad with the opening of their first ever own-branded boutique in the United States, the agreement signed with the world’s leading luxury travel retailer promises the support of T Galleria’s 50 years of experience in the Hawaiian market.

    The news, however, comes after reports earlier this year of Chow Tai Fook choosing to target younger consumers within China, opening outlets stocking jewelry at about a third of the price of that sold at the company’s flagship Chow Tai Fook-branded stores. With jewelry at these outlets sold at an average price of 2,000 RMB ($291), Chow Tai Fook seem to be turning their attention overseas to the more affluent Chinese traveler. The Chow Tai Fook boutique in Haiwaii will offer a range of luxury products including gem-set jewelry, fixed-price gold products and platinum and karat gold jewelry, alongside exclusive collections such as Oriental Blessings and Jardin Magique. The store will also stock exclusive wedding jewelry.

    After the announcement of the store this Monday, there won’t be long to wait before the Jewellery Group can begin to determine whether its changing marketing strategy will pay off—Chow Tai Fook’s Hawaiian boutique will open this May at T Galleria, Honolulu.

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  • South Korean Amore Pacific’s profit suffers from extended domestic slump

    South Korean Amore Pacific’s profit suffers from extended domestic slump

    Amore Pacific‘s first-quarter net profit shrank 15 percent from a year earlier, due largely to a protracted slump in the domestic market amid a rapid drop in Chinese tourists.

    Its net income came to 223.5 billion won (US$197.1 million) in the January-March period, compared with 262.9 billion won the previous year. The operating profit for January-March also slipped 6.2 percent on-year to 316.8 billion won, but sales gained 5.7 percent to 1.56 trillion won in the cited period from a year earlier.

    The company cited a drawn-out slump in its domestic sales, along with a decrease in inbound tourist inflow from China, which followed the ban on trip sales to South Korea by its authorities from mid-March as the main factors that weigh on the profit amid a slow economy. An increase in sales in other foreign markets, however, helped cushion a fall in sales stemming from Chinese consumers.

    South Korea has seen its tally on Chinese tourists plunge by nearly 40 percent since March 15, when travel agencies in China stopped selling tours to Korea on the behest of its government. Such a move by Beijing is seen as part of a string of apparent retaliatory measures against Seoul for the decision to station a U.S. anti-missile system, known as THAAD, on its soil.

    Its operating income from domestic sales, which include the revenue from duty-free stores, dropped 13 percent on-year to 234 billion won as of end-March. Market analysts predicted earlier that AmorePacific may suffer a blow from its mainstay duty-free sales as a result of China’s trip ban. Chinese tourists accounted for half of the foreigners who came into the country last year.

    In contrast, its overseas business posted an operating income of 88 billion won in the first quarter, up 11 percent from a year earlier, with the sales advancing 17 percent to 447 billion won over the cited period. AmorePacific will strive to improve the profitability by realigning the brand portfolio and sales channels in different markets, citing its European unit that logged a 7-percent on-year growth after it bolstered its fragrance lineup, drawing a contrast to the U.S. business which suffered a 16-percent decline in sales.

    The combined operating income of AmorePacific Group, which includes its smaller brands like Innisfree, Etude and other household products, reached 378.5 billion won in the first quarter, down 9.7 percent from a year ago. The sales on a consolidated basis also dropped 5.5 percent on-year to 1.75 trillion won.

  • Lacoste opens boutique at Indira Gandhi International Airport

    Lacoste opens boutique at Indira Gandhi International Airport

    Lacoste has opened a 1076sq ft store at Indira Gandhi International Airport Terminal 3, Delhi, India.

    The brand said the boutique aims to offer a premium shopping experience to both local and international travellers.

    Lacoste said it reinforces the consumer experience in travel retail through channel specific products and visual merchandising

    Lacoste has more than 170 travel retail boutiques worldwide. The company said it will continue to leverage the travel retail channel to strengthen or expand in new areas, develop new channels, such as e-commerce and cruise, and new ways of connecting with consumers before, during and after their trips.

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