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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.

  • Grana pop-up for Fashion Walk

    Grana pop-up for Fashion Walk

    Online fashion disruptor Grana will open a new pop-up store at Fashion Walk on December 9.

    The new Grana pop-up will be different to its Fitting Room by Grana store in Sheung Wan. The Causeway Bay store will target millennials with what founder Luke Grana describes as a “more personal brand experience” enticing customers to ‘see, feel and try’ before making their purchases in-store for later delivery.

    Described as “The Soft Spot – #granaworld experience”, the three key elements to the store are:

    • The See Wall, a gallery displaying how Grana’s luxury garments are made straight from the original source to the final construction of its Winter Collection & #ShowMeWhere images.
    • A Feel Bar, a sensory experience with different types of soft fabrics and textures;
    • A Try Space where shoppers can find the right fit and fabric offline before buying online.

    The eCommerce retailer has partnered with design and architecture brand Alt-254, to renovate its new 1668 sqft showroom to build the Grana experience and bring the online-to-offline concept to Fashion Walk. Grana will use the showroom space to introduce new fabric origin stories as a creative way to engage fashion conscious consumers on the story behind its new collections over the next four months.

    The new Grana pop-up on Paterson Street, is the brand’s sixth in Hong Kong.

    “With the increasing demand from consumers for quality basics in Hong Kong, the new showroom space is an opportunity for us to create a different retail experience for shoppers to have the Grana experience, learn about our minimalist collection, unique fabric stories and honest pricing model,” said Luke Grana

    “I’m very grateful for the support from Hang Lung Properties to pop-up in such an iconic location”, he said.

    Grana is a direct-to-consumer eCommerce fashion brand designing wardrobe essentials in-house, using the finest fabrics from around the world. Grana offers global shipping directly to 12 countries within two days.

    Headquartered in Hong Kong, Grana was founded by Luke Grana and Pieter Paul Wittgen in October 2014. To date, the startup has raised US$16 million in funding from 500 Startups, Alibaba’s Hong Kong Entrepreneurs Fund, Golden Gate Ventures and MindWorks Ventures.

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  • Luk Fook announces interim results

    Luk Fook announces interim results

    The Board of Directors of Luk Fook Limited announced the unaudited consolidated interim results of the company and its subsidiaries for the six months ended 30 September 2016.

    During the Period under review, the Group’s revenue dropped 21.5 percent to HK$5,469,124,000. The continuing weak retail sentiment, together with the relatively high gold price and a relatively high base due to the small scale gold rush in certain months last year, resulted in gold sales falling more than expected.

    Overall gross margin improved by 5.3 p.p. to 28.0% as a result of relatively high gold price and higher gem-set jewellery sales mix. Gross profit therefore decreased by only 3.0 percent to HK$1.5 billion.

    Operating profit decreased by 6.0% to HK$558 million. Profit attributable to equity holders amounted to HK$429 million, a decrease of 7.4 percent. The Group’s overall gross margin significantly improved by 5.3 p.p. to 28.0 percent, as it concentrated on sales mix of gem-set jewellery products driven by a slowdown in demand for gold products and the improved gross margin of gold products as a result of the gold price rise.

    Mr. Wong Wai Sheung, Chairman and Chief Executive of Lukfook Group said, “During the Period under review, the slowdown in economic growth in Mainland China, the changes to the Individual Visit Scheme and the growing popularity of other tourist destinations as a result of currency devaluation, Mainland tourists tended to stay shorter period of time. Consumption expenditure per capita continued to fall with the poor macro-economic conditions and decreased spending power of consumers. ”

    The retail business continued to be the primary revenue source for the Group with its revenue declined year-on-year by 27 percent to HK$4,028,721,000, accounting for 73.7 percent (2015: 79.3 percent) of the Group’s total revenue. With a much improved gross margin, segmental profit in the retail business dropped by 6.7% only to HK$338,921,000 (2015: HK$363,235,000), representing 55.8% (2015: 53.9%) of the total.

    The overall same store sales growth of the Group was down 31.5 percent.

    The Hong Kong market remained to be the key source of revenue for the Group, which the revenue generated decreased by 28.6 percent to HK$3,003,443,000, contributing approximately 54.9 percent (2015: 60.4 percent) of the Group’s total revenue. The Group’s revenue generated from the Macau market decreased by 27.7 percent to HK$665,528,000. Revenue from the Mainland China market decreased by 2.7 percent to HK$1,722,787,000, and accounted for 31.5 percent (2015: 25.4 percent) of the Group’s total revenue.

    During the Period under review, the Group added a net total of 27 Lukfook shops worldwide of which 24 new stores were opened in Mainland China. This raises the global network of Lukfook shops to 1,455. Mr. Wong Wai Sheung, Chairman and Chief Executive of the Group said, “Looking ahead, the Group will maintain its pragmatic and prudent strategies, proactive response to challenges, thereby strengthening our leading position in the jewellery retail market.”

  • New York milestones for Japanese jeweller Tasaki

    New York milestones for Japanese jeweller Tasaki

    Japanese luxury jewellery Tasaki plans to open its first US standalone store in New York City next year.

    It will also be the retailer’s first directly run store in the US.

    tasaki

    Tasaki also has a directly run store in London, plus an outlet at Hong Kong’s Lee Garden. The brand is already available at Barneys New York and Dover Street Market in New York City, Ikram in Chicago, The Webster in Miami and Capitol in North Carolina.

    Founded in 1954, Tasaki began producing and selling pearls domestically before opening a design office in 1962 to create other jewellery designs. In 2009, the company hired New York City-based designer Thakoon Panichgul as creative director.

    Tasaki jewellery is available in nine countries including China, Japan, Korea, Malaysia and Taiwan.

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  • Moiselle International losses mount

    Moiselle International losses mount

    Fashion group Moiselle International has strengthened its margins but still posted a loss in the last half year.

    While its loss of about HK$35 million (US$4.5 million) was about 10 per cent more than its loss of about HK$32 million for the same period last year, Moiselle International had a healthier gross profit margin of 79 per cent, up from 76 per cent.

    Revenue declined 18 per cent to $132 million, its unaudited interim results to the end of September show.

    Moiselle says it was hit hard by the harsh operating environment as it derived about 55 per cent of its revenue from Hong Kong and 18 per cent from China. Its retail sales in Hong Kong were affected by the fall in the number of mainland tourists as well as exorbitant rents. In China, the economic slowdown dampened the consumer sentiment.

    The remaining 27 per cent of the revenue was made up by sales in Macau, Singapore and Taiwan.

    To cope with the difficult market, the group rationalised its retail network, introduced stringent cost-control measures, continued cost-effective sales and marketing initiatives such as adopting an online-to-offline business model, introduced exclusive services for high-end customers with a VIP club, and introduced products of a wider price range to broaden its customer base and cater for young Hong Kong customers.

    Meanwhile, the group stepped up its multi-brand strategy by launching fashionable loungewear under a new brand, promoted in the group’s two fashion shows in Hong Kong and Beijing.

    Hong Kong sales fell 18 per cent year-on-year to about $72.3 million. The group continued to negotiate for lower rents for shop spaces, opened shops at prime locations with reasonable rents and closed down underperforming outlets.

    Online initiatives

    Sales in China fell by 31 per cent to about $23.4 million. The group closed some shops and relocated others. It also stepped up its initiatives in eCommerce, such as opening an online store under the Moiselle brand at Tmall this month.

    To reinforce its online marketing efforts, the group worked with key opinion leaders on social media such as WeChat and Weibo.

    China’s measures to advocate frugality spilled over into Macau’s retail market. The group continued to run five shops at the Venetian Macao Resort Hotel and opened a store at the Parisian Macao Hotel. It had two concept stores and four other outlets in the city which generated a combined revenue of about $17.97 million, or about 14 per cent of the group’s revenue.

    Taiwan’s 20 retail stores generated about $13.7 million, about 10 per cent of the group’s total revenue. It opened three more outlets and counters during the half-year.

    Operations in Singapore

    In Singapore, sales fell 22 per cent to about $4.14 million. The group has retained seven stores there.

    At the end of September, the group had 84 stores and counters in China (first- and
    second-tier cities), Hong Kong, Macau, Singapore and Taiwan, down from 90 at the end of March.

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  • Good time for Samsonite

    Good time for Samsonite

    Buoyed by its Tumi acquisition, Samsonite sales soared in the last quarter in every market, even in its weakest link, Asia.

    The world’s largest luggage maker and retailer achieved a net sales boost of 22.8 per cent in the three months to September 30. Its strongest performance was the US where net sales increased by 22.7 per cent to US$765.3 million.

    In Asia, sales rose 13.4 per cent – although excluding figures for Tumi, acquired on August 1 and contributing to two months of sales, only by 3.7 per cent.

    North America sales rose 39.1 per cent, or by 9.8 per cent excluding Tumi, and in Europe by 16.5 per cent, or 9.4 per cent excluding Tumi. And in Latin America it was ahead by 26.2 per cent including and excluding Tumi.

    CEO Ramesh Tainwala said there is no doubt that the global trading environment continued to be challenging, yet despite the headwinds, all of Samsonite’s regions delivered positive constant currency net sales growth during the third quarter of 2016.

    “It is especially encouraging to see organic sales growth picking up in both the US and China, our two largest markets, while Europe and Latin America have maintained their growth momentum.”

    Gross profit increased by 26.5 per cent year-on-year to $419.8 million and gross profit margin increased to 54.9 per cent, from 53.2 per cent.

    On the negative side, operating profit decreased by 16.4 per cent year-on-year to US$71.7 million for the quarter, largely due to acquisition costs. Excluding those, operating profit increased by 23.7 per cent.

    Asia performance

    After a relatively lacklustre first half, both China and India saw net sales growth improve to 8.1 per cent year-on-year in the third quarter of 2016. Net sales in Hong Kong (including Macau) increased by 73.6 per cent, driven primarily by the addition of the Tumi brand. Excluding Tumi, net sales in Hong Kong (including Macau) decreased by 11.5 per cent. The decline was driven primarily by fewer Chinese shoppers visiting from the mainland.

    Japan and Australia continued to record strong year-on-year net sales growth of 29.7 per cent and 13 per cent, respectively. Excluding Tumi, net sales in Japan increased by 7.4 per cent. Also, the group continued to penetrate the emerging markets within the region with notable net sales growth in Thailand and Indonesia of 7.6 per cent and 3.1 per cent, respectively, year-on-year. Net sales in South Korea were up slightly year-on-year on a constant currency basis due to weak consumer sentiment.

    Growth by brand

    Globally, excluding Tumi, sales were driven by the Samsonite (up 10.2 per cent) and Kamiliant (up 576.1 per cent). Other brands including Hartmann (up 58.8 per cent), Lipault (up 342.8 per cent) and Gregory (up 20.4 per cent) also experienced solid net sales growth. The increase was partially offset by an 11.3 per cent decrease in net sales of the American Tourister brand.

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  • Celebrate 2017 with ZALORA’s exclusive Chinese New Year Collection

    Celebrate 2017 with ZALORA’s exclusive Chinese New Year Collection

    Ahead of the annual Spring Festival celebration, ZALORA, Asia’s online fashion destination, launches its third Chinese New Year collection with a bigger range of modern festive wear for the fashion forward women. With over 200 styles, there are plenty of options available to suit different preferences and styles. Be fashion-ready for the upcoming holiday celebration with an early festive shopping at ZALORA.com.

    ZALORA exclusive 2017 Chinese New Year collection exudes femininity with a focus on soft and contemporary aesthetic that is driven by a sense of romantic nostalgia, a departure from previous year’s bold and vibrant collection. Entitled Modern Romantics, the exclusive collection is filled with light and delicate pieces adorned with details like layers, ruffles and flare sleeves on soft shapes and modern silhouettes. Sheer chiffon in powder pastel shades and delicate feminine fabrics like soft laces are key fabrications of the collection.

    Featuring a mix of jumpsuits and rompers in spring floral prints, off-shoulder dresses, and versatile separates including asymmetrical skirts, shorts with scallop hem detail and all-time favourite peplum tops, ZALORA customers will have plenty of options to choose from for their festive wardrobe. In addition to the auspicious red, the colour palette of this year’s Chinese New Year collection is a combination of classic neutrals, shades of blue as well as one of the season’s hottest colours, dusty pink.

    Rayne Reed, Head of Private Labels of ZALORA Group commented: “ZALORA prides itself in dressing

    the modern women for any occasion including festivities like Chinese New Year. We believe our collection gives our customers the chance to celebrate cultural heritage in a modern way. We want to empower women to express their individual style as each piece is beautiful and versatile. ZALORA’s Chinese New Year collection represents the latest trends, and up-to-date styling while remaining true to the spirit of the festive season.

    When designing the collection, we were inspired by the mood of Chinese watercolour paintings, the style of traditional paper cutting, and romantic florals. We included on-trend details such as light layers, romantic ruffles and lace into modern silhouettes. The iconic Qipao shape is reinterpreted through updated cuts and feminine fabrics – metallic lace as an example – to bring a sparkling freshness to the collection. Exclusive prints, metallic lace and auspicious colours play a major part in setting the mood of the season, including jewel tone reds, glimmering gold, powder pastels.

    Our style savvy customers can find contemporary festive fashion conveniently at ZALORA with just a few clicks and with our speedy delivery, they can start wearing their new outfits in no time!”

    The ZALORA 2017 Chinese New Year collection is available on sale from today exclusively in six markets: Singapore, Hong Kong, Taiwan, Malaysia, Indonesia and the Philippines. Prices range from S$29 to S$79. Customers celebrating Chinese New Year can shop their festive outfits anytime, anywhere exclusively at www.zalora.sg/chinese-new-year/ and on the ZALORA mobile app.

  • Esprit India to sell on Myntra

    Esprit India to sell on Myntra

    Esprit India has secured an exclusive online partnership with online fashion retailer Myntra.

    Esprit will sell its men’s and women’s casual wear range on the platform, and will launch its latest collection exclusively online on Myntra. The all new winter wear collection by Esprit aspires to revive 90s fashion and sports luxe in a selection of 405 different styles.

    Gunjan Soni, CMO and head of international brands business with Myntra, says Esprit is a truly international fashion brand with global appeal and a brand ethos that exemplifies comfortable fashion.

    “It gives us great pride to forge an exclusive association with Esprit as part of our focused endeavor in making Myntra the de-facto destination for International fashion in India.”

    Guillaume Thery, GM Asia-Pacific with Esprit, added: “Esprit has built strong brand equity among shoppers in India over the years. With the exponential growth of the online shopping medium and the expansive market of India, it was imperative that we work with the segment leader in taking our brand development to the next level. Myntra was the obvious partner of choice given their understanding of the online fashion landscape and their ability to partner and develop strategies that complement our business imperatives for the region.”

    Myntra has emerged as India’s leading fashion e-tailer and home to the largest selection of international premium fashion brands, including Nike, Adidas, Puma, Levis, Wrangler, Arrow, Jealous 21, Diesel, CAT, Harley Davidson, Ferrari, Timberland, US Polo, FabIndia and Biba.

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  • Bluebell Group invests in designer startup

    Bluebell Group invests in designer startup

    Bluebell Group has invested in a new luggage design house Ookonn, which takes inspiration from a hat box, selling direct to consumers online.

    Ookon is the brainchild of Anson Shum, who conceived a style and design based on an old-fashioned, round hat box.

    At the time, Shum was working in a marketing and communications role with Bluebell Group.

    “When I resigned last year, I told the company of my plan to start my own label,” Shum said in an interview.

    ookonn-lugguage

    “They were so nice to me, and asked if there was any way we could work together. I showed them my business plan, and they offered to coach and mentor me.

    “Eventually nearing the end of my employment period, I did a formal presentation in front of all the shareholders. And the week after, I was told that Bluebell wanted to invest in Ookonn. It was a surreal moment. I think they decided to invest because of the product, the business model, and obviously the fact I have built a good relationship with them.”

    Shum and his business partners sell the Ookonn bags online, where they cost upwards of HK$2280 for basic models.

    “Online business is more relevant to my target audience. Ookonn is a lifestyle brand targeting millennials. While we get customers from different age groups, the feeling and foundation of the brand is for a younger audience in their early 20s to early 30s. While online is important, it is only one part of the business model, since we are launching in Hong Kong and China. But for other markets, perhaps we can collaborate with several bricks-and-mortar multi label stores,” said Shum.

    He describes his case designs as “a bit more playful” than most common luggage ranges.

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    “I’ve been working in fashion and luxury for 12 years, and have had plenty of opportunities to travel. But while I can find a lot of beautiful options for clothes and accessories, there are not that many for luggage. Most luggage brands in the market are business oriented. So I wanted to see if I could create a luxury brand that would generate excitement.”

    The bags come with a variety of options for handles, covers and belts and can be customised with the buyer’s chosen monogram.

    The bags come from Transport Safety Authority locks, wheels which turn a full 360 degrees and a light polycarbonate shell.

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  • Under Armour Korea flagships planned

    Under Armour Korea flagships planned

    Under Armour Korea plans to open flagship stores to make the most of its growing popularity in the Asian market.

    The US-headquartered sports brand says it has opened an office in South Korea to operate its business directly from next year, after taking over distribution from local partner Hyosung Galaxia.

    “Under Armour will strengthen its marketing, distribution and retail efforts, providing Korean consumers with the best brand and shopping experience,” said David Song, country manager of Under Armour Korea.

    “We will open our flagship store in southern Seoul in January. The brand will also continue to connect with athletes directly and promote sports, fitness and healthy living through its connected fitness platform, which is the world’s largest digital health and fitness community.”

    Song said Korea is a “pivotal component” in the company’s international growth plan.

    “Through design, innovation and our Under Armour connected fitness platform, we look forward to forging long-term relationships directly with athletes at every level in the country.”

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  • GEOX Launches Men’s Footwear Collection Autumn/Winter 2016-2017

    GEOX Launches Men’s Footwear Collection Autumn/Winter 2016-2017

    Well-being is the first and foremost inspiration behind the new GEOX winter season, where technological development always reflects the tastes and trends of contemporary design. The breathing shoe becomes a “Comfort Cool” accessory combining creativity, lightness and flexibility, to make life easier and distinguish every step in its functionality and appearance, quality and style, in all weather conditions and anywhere, from the city streets to outdoor activities.

    Comfort is cool

    The unmistakable breathability, heat-regulation, waterproofing, resistance and seal guaranteed by the continual innovation of the GEOX membrane and sole amplify the value of the patents, with a focus on the design and the patterns, the materials and details and the colour and material combinations, combining elegance, versatility and refinement with the philosophy of easy walking.

    The principles of uniqueness and top performance every single day are behind the extensive development of the SNEAKERS, designed for a wide variety of uses and ideal for the most casual and carefree looks: from the slim-runners in wax-coated technical fabrics to the city-active lines combining mesh with leather. Manufactured with the ultra-light EVA soles, guaranteeing an extra-cushioning and ultra-flexible effect, which is amplified by the flex grooves on the sole and the shaped rubber tread, ensuring an optimal grip on all surfaces.

    NEBULA, in contrast, is an all-season model, characterised by the iconic ergonomic slip-on shape, which reconfirms the primary values of a dynamic fit and freedom of movement, in a classier shoe, designed and manufactured for walking anywhere in the world. A symbol of GEOX excellence, combining the Inner Breathing System and the 3D Performance Unit: wider openings at critical points of the sole are combined with the structure calibrated to the natural points of contact of the foot, enhancing breathability, flexibility, lightness and stability. They are available in both casual shades and the contrasting colour-blocks of the fluorescent or camouflage soles, and the clean and essential silhouettes have easy-entry and totally water-repellent uppers, in technical fabric and soft suede, with totally hidden stitching. 

    The water, wind and damp proof AMPHIBIOX technology continues to be a cornerstone in the Fall/Winter season. Totally, waterproof and really comfortable. The rubber soles include the peerless Amphibiox technology which will keep rain, wind, snow and dampness at bay: the breathable and waterproof inner membrane protects both sole and upper, stopping water from getting inside the shoes whilst ensuring amazing breathability – meaning your stay feet warm and dry and can breathe naturally.

    Lastly, the CUOIO patent revolutionises the elegant footwear of the modern gentleman looking for totally waterproof models: the breathing membrane is combined with the leather sole, allowing damp to pass from the inside outwards and ensuring the foot is always completely dry. A combination of a “new classic” spirit and an “old-school” refinement, the authentic Made in Italy style is extremely sophisticated and attractive, as represented by the formal range in vintage feel.

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  • Mothercare recovery hits a bump

    Mothercare recovery hits a bump

    Mothercare is in the process of a much needed turnaround strategy for its UK business that aims to bring the UK side of its proposition back to profit.

    After a reasonable first quarter result, the retailer has felt the effects of a tougher economic climate in the second, with like-for-likes dipping into negatives for the combined first half year.

    From March onwards expect to see Mothercare increase its prices, given that close to half its products are sourced in US dollars, which will likely be another blow to UK profits.

    Mothercare continues to focus on its digital business, with online sales now 40 per cent of total UK retail sales, compared to 36 per cent this time last year. However, a significant 44 per cent of online sales come from instore orders on staff iPads – which suggests consumers are visiting stores but due to limited floor space there’s poor product availability. Mothercare’s ‘online’ sales don’t look quite so impressive.

    Mothercare has other issues to contend with. While the retailer is popular for newborns, in the next couple of years, the business will need to focus on retaining these consumers with celebrity and fashion-led ranges as fast fashion retailers such as H&M, Zara and Next draw this customer base from its stores.

    International remains an area of success for Mothercare, boasting profits of £20.8 million. However, the volatile international market means the retailer must not rely on its international success to soften the losses it continues to make in the UK.

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  • Jaeger-LeCoultre Japan opens flagship

    Jaeger-LeCoultre Japan opens flagship

    Luxury watch brand Jaeger-LeCoultre Japan has staged a grand opening for its first flagship boutique, in Tokyo.

    Jaeger-LeCoultre CEO Daniel Riedo and brand manager for Japan Stefano Bossi welcomed 150 guests for the official launch of the store, on Ginza Namiki Street. Actress/model Maki Tamaru was a special guest, wearing a Reverso by Christian Louboutin from the Atelier Reverso.

    jaeger-lecoultre

    Exclusive watches were on display including a 101 Joaillerie with the smallest calibre in the world, invented by Jaeger-LeCoultre. Also featured are Atmos clocks.

    Covering 100 sqm, the store spotlights Jaeger-LeCoultre artistry and craftsmanship, two themes that have been at the heart of the brand since 1833. Grand complications and high jewellery pieces are showcased, epitomising the crafts mastered by the manufacturer – gem setting, enamelling, engraving and horological complications.

    A special area is reserved for a watchmaker who handles maintenance and repairs.

  • H&M Taiwan opens Ximen flagship

    H&M Taiwan opens Ximen flagship

    H&M Taiwan held a high-profile fashion party to launch its new Ximen flagship store, gathering Taiwanese fashion’s finest.

    Yoga Lin, Nick Chou, Gemma Wu, Nikki Hsieh, Puff Kuo, Jasper Liu, Jian Man Shu and Lien Yu Han were amongst the stars joining this week’s celebration. At the party, Yoga Lin mesmerised the fashion crowd with a surprise performance.

    hm-ximen-flagship-yoga

     

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    In celebration of unveiling H&M’s Ximen flagship store, singer Yoga Lin walked the red carpet sharply dressed in an exclusive capsule collection by H&M Design Award-winner Hannah Jinkins. Inside H&M’s largest flagship store in Asia, Yoga Lin performed three of his biggest hits, rolling out a night of entertainment, fashion and perfection. The performance was followed by Nick Chou (NickTheReal) appearing as the guest DJ of the night.

    hm-ximen-flagship-dj

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    The H&M Ximen flagship store formally opened today, November 25.

    “Ximending is a fashion conscious area of Taipei City, and I am excited to be a celebrating the opening of H&M’s flagship store. Tonight is an unforgettable night; I hope H&M will inspire this area with its up-to-date fashion,” said Yoga Lin.

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    hm-ximen-flagship-nikki-hsieh

    “I am a big fan of H&M. The performances were impeccable, and the store looks fantastic. This is surely the fashion event of the year,” said Puff Kuo.

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  • Chimes Boutiques opens ‘world class’ flagship

    Chimes Boutiques opens ‘world class’ flagship

    Chimes Boutiques has opened a new flagship store in its home town Davao city.

    “I never imagined 12 years ago that we would be able to deliver a truly world-class experience to our humble shores,” observed Chimes Boutiques CEO and SVP of Felcris Group, Cindy Yap at the store’s unveiling.

    Chimes was originally founded by the second generation siblings of the Yap family – founders of hypermarkets and convenience stores in Mindanao – who saw an opening for a channel selling luxury retail brands in Davao. With such a store, she figured,  Mindanao’s well heeled would no longer have to travel to Manila, or overseas, for fine fashion.

    chimes-chic-mb3

    “Change is a constant element in everyone’s life and [after 12 years] that moment came for us, as well. We decided to develop a selling strategy that would meet the wishes of our client – passionate travelers always on the lookout for something new,” she said.

    The 37,000 sqft Governor Sales Street store was completely refurbished – all the way to the new logo – in a project led by retail designers Cyndi and Happy Fernandez of Moss Manila.

    Chimes stocks more than 100 brands spanning beauty, accessories, ladies ready-to-wear, menswear, home and children. Among the labels: local brands Aranaz, Happy Skin, Rajo Laurel, Vania Romoff, Renegade Folk and Sunnies Studios.

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  • Hard half-year for Luk Fook Holdings

    Hard half-year for Luk Fook Holdings

    Revenue plunged by 21.5 per cent for jeweller Luk Fook Holdings (International) to reach HK$5.5 billion (US$709 million) for the six months to September 30.

    Its interim results also show a drop of 31.5 per cent in overall same-store sales for the period.

    However, its overall gross margin improved by 5.3 points to 28 per cent as a result of a relatively high gold price and higher gemset jewellery sales mix. Because of this, the gross profit decreased by only 3 per cent to HK$1.5 billion.

    Mainland China accounted for 54.6 per cent of total profits, an increase of 12.8 points.
    With a lacklustre market, retail revenue in Hong Kong plunged by 33.4 per cent to $2.642 billion, while the wholesale business shot up by 51.1 per cent to $361.6 million because of an increase in scrap gold sales as well as wholesale rough diamonds.

    Luk Fook says a relatively high gold price saw gold sales fall more than expected.

    During the six months, the group added 27 Lukfook shops worldwide, including 24 in China (nine of them licensed shops), a self-run shop in both Macau’s casino district and New York,and  a licensed shop in Seoul. This brought its total to 1455 Lukfook shops (up from 1412 at the same time last year), spanning Australia, Canada, China, Hong Kong, Korea, Macau, Singapore and the US, as well as nine 3D-Gold shops (up from four) on the mainland.

    The group says it has been striving to diversify its product mix, and since 2010 has been trying to expand its mid- to high-end watch business. At the end of September is was the authorised dealer of 34 watch brands including Audemars Piguet, Bulova, Burberry, Bulgari, Emporio Armani, Eterna, Frederique Constant, Longines, Omega, Oris, Rado, Tag Heuer, and Victorinox Swiss Army.

    For the six months, the watch business contributed revenue of HK$104.49 million down from HK$119.39 million for the same period last year, representing 1.9 per cent of the group’s total revenue, a 12.5 per cent decrease.

    Looking ahead, the group aims to continue to develop its eCommerce business and to further strengthen cooperation with eCommerce platforms in China. At the end of September, the group had 15 online sales platforms in China, including JD.com, Suning.com, Tmall.com and VIP.com.

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