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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.

  • Esprit Q1 turnover slips 15 per cent to HK $4.7 billion

    Esprit Q1 turnover slips 15 per cent to HK $4.7 billion

    Clothing retailer Esprit Holdings Ltd reported a 14.9 percent slide in first-quarter turnover on Monday as sales in Europe lagged and it cut its store footprint.

    Turnover in Hong Kong dollar terms fell to HK$4.7 billion in the three months ended Sept. 30, while the company cut its total controlled floor space by 7.6 percent.

    Turnover in Germany, which is the company’s biggest market and accounts for nearly half of its business, fell 15.5 percent. Turnover in the rest Europe – its second biggest market – fell 15.4 percent.

    In local currency terms, turnover fell 0.4 percent.

    The majority of the floor space reduction was in Esprit’s wholesale business. Retail floor space was reduced by just 1.3 percent and comp store sales growth was 10.8 percent.

    Esprit shares closed up 3.54 percent at HK$6.72 on the Hong Kong Stock Exchange earlier in the day.

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  • Sa Sa profit set to plunge

    Sa Sa profit set to plunge

    Beauty products retailer Sa Sa International has warned its half year profits will plunge by 50 per cent.

    A Sa Sa profit warning filed with the Hong Kong Stock Exchange said preliminary analysis of accounts for the six months to September 30 pointed to a record decline in profit for the group.

    It blamed “the worsening operating environment of the retail sector which has led to significant drops in both sales and gross profit and reduced operational efficiency as a result”.

    In the second quarter, to September 30, Sa Sa has reported a 12.4 per cent fall in retail and wholesale turnover.

    “Turnover in Hong Kong and Macau markets declined by 13.2 per cent, while same store sales decreased by 10.1 per cent. The number of transactions decreased by 5.7 per cent, while the average sales per transaction decreased by 7.9 per cent.

    “The group’s retail and wholesale turnover in other markets (including Mainland China, Singapore, Malaysia, Taiwan and sasa.com) recorded a drop of 8.9 per cent during this period.”

    Sa Sa said overall consumer sentiment and Mainland Chinese arrivals “continued to be adversely affected by a number of factors with no significant signs of improvement”.

    “The strength of the Hong Kong dollar and the weaker yuan adversely affected the attractiveness of shopping in Hong Kong for both local consumers and Mainland Chinese visitors. Furthermore, the impact of “one-trip-per-week” policy has gradually gained momentum, leading to a decline of 13.1 per cent and 10.1 per cent in the group’s retail sales and same store sales in Hong Kong and Macau markets during the second quarter respectively.

    “The number of transactions of Mainland Chinese customers decreased by 4.1 per cent, while their average sales per transaction decreased by 12.5 per cent on a year-on-year basis, dragging down the overall performance.”

    Sa Sa says it will work on optimising product offerings and enhancing its customers’ shopping experiences to strengthen its position.

    The company says it will release final results for the half before November 30.

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  • Uniqlo Malaysia expands footprint

    Uniqlo Malaysia expands footprint

    After making its first foray into East Malaysia by opening two  stores in Kota Kinabalu, Sabah and one in Kuching, Sarawak, Uniqlo Malaysia is opening its first Perak store in the newly opened Aeon Mall Ipoh Klebang.

    This will be Uniqlo’s 31st store in Malaysia as the company increases its reach to make its high quality and affordable apparels more accessible to Malaysians.

    Uniqlo Perak Malaysia 1

    “As we further increase our reach to Malaysians, we want to be a brand that is present in various aspects of our customers’ daily lives. Be it just lounging at home or engaging in sports activities, we want to be the brand that provides clothes which enable them to engage in these daily activities with ease” said Jocelyn Ng, COO.

    Uniqlo Perak Malaysia 2

    Uniqlo Malaysia has lined up two more store openings in Johor and Sarawak, respectively. These will be the second Uniqlo stores for both states, after City Square in Johor Bahru and The Spring in Kuching.

    Uniqlo Perak Malaysia 4

    Uniqlo recently announced its collaboration with Disney to produce items with Disney,  Pixar, Star Wars and Marvel characters, which will be rolled out in its Malaysian network.

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  • “Fashion Hong Kong” x Japan

    “Fashion Hong Kong” x Japan

    Five innovative Hong Kong fashion designers; Chailie Ho, Kathy Lam, KOYO William, Lulu Cheung and Polly Ho, will showcase their 2016 Spring/Summer collections at the Mercedes-Benz Fashion Week TOKYO this month. The group show, “Fashion Hong Kong”, which is organised by the Hong Kong Trade Development Council (HKTDC), will be held at Hall B in Shibuya Hikarie at 8:30pm on 14 October.

    Versatility from five fashion designers

    Tokyo is known for its fashion-forward culture and the Mercedes-Benz Fashion Week TOKYO is one of the top-tier international fashion weeks. In the “Fashion Hong Kong” show, Chailie Ho will present her collection “Mermaid Circus”, which is built around fluid shapes and presented in hand-drawn watercolour prints. The latest collection by Kathy Lam will feature a playful dichotomy between white and blue that was inspired by “Lorelei”, a song by the famous band, Cocteau Twins. KOYO William will apply functional fabrics that are highly resistant to harsh environments to his collection “Welcome on board”. Lulu Cheung will introduce her “Light It Up” collection, which focuses on spreading positivity and love through natural forms that express buoyant femininity. Last but not least, Polly Ho will unveil her collection “The Happy Prince”, which is inspired by the popular children’s story and created with delicate Canton silk.

    Hong Kong’s strong fashion heritage

    “In Hong Kong, we have an ideal and supportive environment for the fashion industry. We have a strong heritage in the fashion business, from fashion design and manufacturing to marketing and sales supporting services, everything is fueled up and ready to go,” said Raymond Yip, Deputy Executive Director of the HKTDC. “We have a pool of talented and creative fashion designers and you can easily recognise their creativity in the collections. Through introducing the Hong Kong designers and brands to the international fashion arena, we hope to promote and showcase their talents.” Mr Yip added that the Hong Kong designers are thrilled to have the opportunity to display their latest collections at the Mercedes-Benz Fashion Week TOKYO and present their finest designs to local buyers, media, bloggers and fashionistas.

    Local Japanese buyers and PR experts have specifically made a trip to Hong Kong to assist the designers with their collection preparations. Prior to the “Fashion Hong Kong” show, designers will be able to meet with representatives from PARCO, a prominent local department store, to discuss the latest information in the fashion and retail industries. The “Fashion Hong Kong” show will be followed by the Fashion Gallery at CUBE1,2,3 on 15 October and the Joint Exhibition at Hillside Terrace from 20 to 22 October. At the Fashion Gallery, visitors will be able to see and feel designers’ runway pieces and other collections. A selection of items that inspired the designers will also be presented. Designers will be available on site to discuss their ideas and creations with visitors.

    Experience Hong Kong in Tokyo

    The HKTDC is collaborating with the brand Chef Nic Cookies, founded by renowned Hong Kong singer and actor-turned-entrepreneur Nicholas Tse, to provide an authentic taste of Hong Kong at the Fashion Gallery. As his first foray into the food business, Chef Nic Cookies is based on four flavors: sweet, sour, bitter and spicy, represented by butter, lemon, dark chocolate and chili cookies. To respect the Japanese culture and its strong emphasis on tradition, we have partnered with Polytrade Paper, a premium and awarding-wining paper supplier from Hong Kong, to provide top quality eco-friendly materials and inspirations for the event.

    By collectively presenting fashion, paper art and food at “Fashion Hong Kong”, the event highlights Hong Kong’s position as a lifestyle trendsetter in Asia.

    “Fashion Hong Kong” is a series of overseas promotional events organised by the HKTDC to promote Hong Kong fashion designers and brands at leading international fashion weeks. In addition to Mercedes-Benz Fashion Week TOKYO, the 2015/16 series also includes Hong Kong designer participation in Copenhagen Fashion Week and the upcoming New York Fashion Week.

    “Fashion Hong Kong” (Fashion Show)
    Date: 14 October 2015 (Wednesday)
    Time: 8:30 pm
    Address: Shibuya Hikarie Hall B, 9/F Shibuya Hikarie, 2-21-1 Shibuya, Shibuya-ku, Tokyo, Japan zip 150-8510
    Website: https://tokyo-mbfashionweek.com/en/brands/detail/fashion-hong-kong/

    “Fashion Gallery” (Showroom)
    Date: 15 October 2015 (Thursday)
    Time: 11:00 am – 8:00 pm
    Address: CUBE 1,2,3, 8/F Shibuya Hikarie, 2-21-1 Shibuya, Shibuya-ku, Tokyo, Japan zip 150-8510
    Website: https://www.hikarie.jp/floormap/8F.html, https://www.hikarie8.com/cube/about.shtml

    Joint Exhibition (Business Matching)
    Date: 20-22 October 2015 (Tuesday – Thursday)
    Time: 20-21 October 2015 10:00 am – 8:00 pm; 22 October 2015 10:00 am – 6:00 pm
    Address: Hillside Banquet (Hillside Terrace C), 29-8 Sarugakucho, Shibuya-ku, Tokyo, Japan zip 150-0033
    Website: https://www.hillsideterrace.com/index2.html

    Mercedes-Benz Fashion Week TOKYO 2016 Spring/Summer
    Date: 12-18 October 2015 (Monday – Sunday)
    Website: https://tokyo-mbfashionweek.com/en/aboutmbfwt/

    Photo download: https://bit.ly/1VAO9rr

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  • Coccinelle expands global shop network

    Coccinelle expands global shop network

    Coccinelle has further extended its global network of shops with three new openings in China and Morocco and on board the St Peter Line cruise ship, which sails the Baltic Sea.

    The three locations opened in August and September and carry the Autumn/Winter 2015 collection, which channels ‘relaxed femininity, effortless glamour and spontaneity’ according to the Italian accessories brand.

    The collection is an expression of the #FeelGood concept that interprets the true spirit of the brand, “a positive attitude that Coccinelle transforms into a game of colours (chocolate, amber, ivy green and bicoloured fuchsia combined with wine red), of contrasts and details,” says Coccinelle.

    The Arlettis Bag is said to be the ‘key bag’ of the season featuring a stirrup-shape golden latch and a double variation of leather, calfskin and suede across different models.

    The personalised 30sq m shop-in-shop at Chengdu Shuangliu International Airport Terminal 2 opened in partnership with Dufry, and features the new store concept.

    “Bright steel for the wall display module and fumé mirrors give the interior a timeless elegance and make the best use of the available space and open displays that showcase bags and accessories,” adds the brand.

    Emanuele Mazziotta, Head of Travel Retail, says: “We are pleased to be present at Chengdu Shuangliu Airport. Chengdu is a key business city and represents an important milestone for our expansion plan into China domestic and travel retail channels. We want to thank Dufry for all the efforts and support for this opening.”

    Coccinelle has also opened a corner at Casablanca International Airport in partnership with International Duty Free Shops and an additional corner on board of the Baltic Sea’s St Peter Line cruise ship.

    Emanuele Mazziotta, added: “We want to thank International Duty Free Shops; Casablanca Airport is another important opening for Coccinelle in 2015 and the first one in the region.

    “In September we have also opened a corner on board of St Peter Line cruise ship, following the recent openings on Costa Crociere cruise ships with Starboard. This additional location on the Baltic Sea show our interest and trust in the cruise business”.

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  • Buro 24/7 pops up in Singapore

    Buro 24/7 pops up in Singapore

    Buro 24/7 has popped up in Scotts Square…. for six months.

    The Buro 24/7 Singapore pop up store is the second in the city for the international brand, opening five months after an earlier one at Clifford Pier.

    Whether a store with a life span of six months qualifies for being termed a ‘pop up’ might be a moot point for some, but Inside Retail Singapore is prepared to accept the brand’s own definition!

    Buro 24/7 Singapore is essentially a news website promising “unparalleled coverage and access to the world of fashion and contemporary culture told through an Asian lens”. It has a contemporary feel, heavily influenced by the needs of the modern social media driven generation and a concept with similarities to the successful Monocle concept which also merges publishing with curated product collections, retail stores and pop ups.

    Founded by ‘style maven and digital powerhouse Miroslava Duma’, Singapore was the first country in Asia to join the Buro 24/7 family and the eighth edition of the site internationally, which now numbers 10. The others are in Russia, Croatia, Ukraine, Kazakhstan, Azerbaijan, Middle East, Australia, Malaysia and Mongolia.

    Buro 27/7 describes its new pop up as “a retail space, office and production studio” right in the heart of Orchard Rd.

    “For the next six months, our pop up store will couple online content with retail exposure and play host to upcoming designers, private previews, as well as photo shoots and workshops.”

    The concept is currently hosting a Boss fashion installation, featuring Boss Womenswear outfits as featured in a Buro 24/7 photo shoot with Anita Kapoor.

    Guests at the recent opening party were given a $50 Boss voucher when they took an Instagram photo with the BossS Bespoke bag and tagged it with #BuroLovesBoss.

    The Buro 24/7 pop up store is open daily from 10am to 10pm.

  • Missha Barcelona debut

    Missha Barcelona debut

    South Korean cosmetics brand Missha has opened a new store in Barcelona, Spain.

    The new Missha Barcelona store marks the Able C&C-owned brand’s second European market, after it opened a store in Ingolstadt in Germany in February.

    Missha is the first Korean cosmetic brand to open a retail store in Spain.

    While Missha had ‘shop in shop’ stores in Seville and Madrid, the Barcelona store is its first stand alone shop in Spain.

    Missha management say they chose Barcelona as the location for the newest European store because Spain is the fifth largest cosmetics market in Europe.

    “Since the economic slump, the demand for middle-low priced cosmetics has risen. Imports of Korean cosmetics have been increasing, which made us decide to branch out to Spain,” said a spokesman.

    Missha currently manages 2100 stores in 30 countries, and is considering opening more stores in Berlin and Munich, Germany.

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  • Uniqlo Philippines opens in Cebu

    Uniqlo Philippines opens in Cebu

    Uniqlo Philippines will open its first store in Cebu on Friday (October 23).

    The new 1000 sqm store is located in SM City Cebu shopping mall, on the first level of the north wing.

    It will be Uniqlo Philippines’ 25th shop and its first in the Visayas region.

    “We have opened 24 stores in Metro Manila and Luzon, entering the Visayas market is a milestone in our growth strategy,” said Katsumi Kubota, COO of Uniqlo Philippines.

    A second Cebu store will open in November in SM Seaside City Cebu.

    Uniqlo’s Lifewear concept, Simple Made Better, advocates apparel that comes from the Japanese values of simplicity, quality and longevity made with elegance.

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  • King Baby Studio Announces Five New Stores in China

    King Baby Studio Announces Five New Stores in China

    King Baby strengthens its presence in China by opening five brand new stores – for a total of seven – in China. King Baby is one of a handful of brands exporting “hand-made in the USA” products to China.

    About the new King Baby Locations:

    The Grand Gateway 66 (Shanghai) is in the heart of the Shanghai Xujiahui business and shopping district and contains 1.1 million square feet of retail and entertainment space. The mall adds a Western-style experience to the dynamic Xujiahui commercial district and is located above the subway making it a convenient location for customer traffic.

    The Wanda Plaza (Wuhan) is one of the most unique landmarks in the region, the Han street Wanda Plaza is located in the central part of Wuhan’s central culture area, known as the “Pearl of the crown”. Han Street houses shopping malls, restaurants, and cultural and recreational sites. Hanjie Wanda Square is a luxury-shopping plaza which houses international brand stores, world-class boutiques, catering outlets and cinemas. The shopping mall belongs to Wanda Group, which is the biggest shopping mall group in China.

    The Mixc (Hangzhou) is a luxury mall which has been built in a new Hangzhou Central Business District area along the Qianjiang river, which is surrounded by high-end apartment building, office building, service apartment and Hyatt Regency hotel.

    Joy City (Tianjin) opened for business in 2011. Measuring 530,000 m2, this Joy City in Tianjin is located at the convergence of three traditional commercial circles in Tianjin and is a one-stop urban shopping complex covering experiential shopping malls, international A-1 office buildings, hotel-style service apartments and high-grade residences. You can experience high-end services provided by the super five-star IMAX cinema, the all-star theatre skating rink, the role playing center for children (Babyboss) or the exquisite supermarket Ole.

    Hisense Plaza (Changsha) is the joint project of Hisense Plaza and China’s most well-known property developer Huayuan Property. It’s the podium building of “Huayuan-Hua center”’s city complex The project locates in central Changsha and occupies one-kilometer core river view. Hisense Plaza is devoted to becoming the top shopping center in Central China — the total planned area is over 130,000 square meters (the whole building is nearly 200,000 square meters).

    “King Baby is thrilled and excited to have the opportunity to share American handmade jewelry and accessories along with our passion and lifestyle to China. We believe that quality, tradition, and ‘Made in the U.S.A.,’ are worth their weight in gold,” says founder Mitchell Binder.

    King Baby’s collections capture the spirit of Americana with rock n’ roll sex appeal and includes sterling silver pendants, beaded bracelets, earrings, and accessories detailed with fossilized mammoth ivory, locally mined jet and turquoise.

    “Management is confident with the development of King Baby business in China and very happy to see the progress on this market. More stores will open in a near future,” says Mr. Ching, The Retail Group LTD.

    Los Angeles-based King Baby designs, markets and sells premium artisan jewelry. The collection consists of men’s and women’s sterling silver and gold pendants, bracelets, earrings, and accessories. The company has retail stores in Santa Monica, CA, Los Angeles, CA, Nashville, TN, and Las Vegas, NV. In the United States, the company also distributes merchandise to better department stores and boutiques, including, Saks Fifth Avenue, Harvey Nichols, and Kitson. The brand also sells directly and through distributors to better department stores and boutiques worldwide.

  • China wounds Burberry bottom line

    British luxury brand Burberry says Chinese luxury spending patterns have impacted on its sales in the six months to September 30.

    While the brand’s global retail sales rose two per cent to £1.105 billion in the half year, CEO Christopher Bailey described the market as “increasingly challenging” for luxury customers, especially in China.

    “The external environment became more challenging during the half, affecting luxury consumer demand in some of our key markets. In response, we have intensified our focus on driving sales and productivity, while taking swift action on discretionary costs.

    “While mindful of this external volatility, our plans for the festive season position us well to return to a more positive sales trend in the all-important second half. Looking further ahead, we maintain our focus on – and confidence in – the long-term growth opportunities for our business across channels, regions and product categories.”
    Retail revenue was £774 million, up one per cent on a same stores basis.

    But it was a different story in Asia.

    “Asia Pacific delivered a mid single-digit percentage comparable sales decline in the half, impacted by a further year-on-year deceleration in Hong Kong in the second quarter compared to the first, as footfall continued to drop,” the company said in a statement. “Mainland China comparable sales decreased slightly in the half, in the context of weakening consumer sentiment in the market in the second quarter. Excluding Hong Kong and Macau, comparable sales were broadly unchanged year-on-year in the first half.”

    Japan, however, was a standout.

    “Japan saw comparable sales growth well in excess of 50 per cent, albeit off a small base (with total sales now accounting for around two per cent of global retail/wholesale revenue).

    “Good progress was made during the half in expanding our retail presence, with the addition of our sixth free-standing store, in Shinjuku, Tokyo and the opening of a further six department store concessions, bringing the total to 19. We also assumed operation of 10 childrenswear concessions.”

    The company also expanded its beauty distribution, through Sephora globally and with Shiseido in Japan.

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  • Ishtara Jewellery plans expansion into Europe

    Ishtara Jewellery plans expansion into Europe

    Ishtara Jewellery, a Singapore business with origins in India, plans to expand within Asia and into Europe and the Middle East.

    MD and owner Parthiban Murugaiyan says Ishtara is marketing Indian-made gold jewellery in Singapore and its sister company Luvenus Jewellery is retailing international brands overseas.

    The company has been importing Indian gold and diamond jewellery into Singapore for 20 years under its previous name India Jewellery Pte Ltd. It has just completed a rebranding.

    Now Ishtara is planning to open retail stores and showrooms in Hong Kong, India – and further afield in Europe and the Middle East. It will also focus on airports, with a Mumbai airport contract already reportedly signed..

    “We are catering to the younger generation of South Asian diaspora with fashionable jewelleries by setting up showrooms and retail outlets globally, especially starting with airports,” Murugaiyan said in an interview.

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  • Stelux warns of looming loss

    Stelux warns of looming loss

    Hong Kong headquartered watch retailer Stelux has warned shareholders it expects to post a loss in the first half year.

    Stelux owns the City Chain network of watch stores along with eyewear brands eGG and Optical 88.

    In the first quarter of this year the company reported a 7.1 per cent decline in sales. But despite a decrease in turnover due to a decline in tourist spending in Hong Kong and Macau, the company achieved an 85.8 per cent increase in sales of its fashion eyewear chain eGG in the China Mainland, a 23.4 per cent increase in City Chain sales there, and a more modest 0.2 per cent gain in its Optical 88 chain.

    Fast forward to last Friday, however, and it warned interest charges, exchange rate losses and weakening Hong Kong and Macau sales will see it record a loss for the full six months.

    It reported “a decrease in turnover and gross profit caused by weak retail sentiment… particularly in Hong Kong, Macau and Southeast Asia (with moderate turnover growth recorded in Mainland China).”

    In the six months to September 30 last year it posted a profit of more than HK$105 million (about US$13.5 million).

    “Despite the anticipated loss, the group is expected to report a positive operating profit, an improved gearing ratio (with a reduction in bank borrowings of approximately HK$130 million) and stable liquidity in the reporting period,” the statement concluded.

  • Brooks Brothers, Walton Brown seal China JV

    Brooks Brothers, Walton Brown seal China JV

    Brooks Brothers Group, America’s oldest retailer, and Walton Brown Group, have signed a 10 year joint venture to market the brand in Greater China.

    A 50/50 joint venture company has been established which will launch in January 2016 for an initial period of 10 years. It will take over the management of Brooks Brothers’ existing retail network of 90 stores in the market territory and plans to open more than 10 points of sale in the first two years across key cities in China, Hong Kong, Macau, and Taiwan.

    In addition to freestanding stores, the JV will invest deeply in a multi-channel distribution platform providing wholesale, outlets, travel retail and eCommerce channels to bolster brand presence and fuel business growth in the region.

    The move comes several months after the announcement by Hong Kong’s Dickson Concepts it would not be renewing its partnership with Brooks Brothers when it expires on December 31.

    The two companies in the new JV believe the arrangement will leverage the strengths and capabilities of Walton Brown, a subsidiary of The Lane Crawford Joyce Group, with experience in strategic retail brand management in Greater China with the global appeal of Brooks Brothers, “one of America’s most iconic clothing brands,” augmenting its dynamic growth across the Greater China region.

    The partners say that building on the success of Brooks Brothers’ ready-to-wear menswear and accessories collections, the product offerings within its women’s collection and accessories lines will be enhanced with the appointment of influential US designer Zac Posen as the creative director for women’s wear. His first women’s collection will debut in Spring/Summer 2016 and will be available worldwide.

    Claudio Del Vecchio, chairman and CEO of Brooks Brothers, said the JV will enable Brooks Brothers to develop long-term growth strategies across multiple online and offline distribution channels especially in China, one of its most important growth markets for the global business.

    “We are confident in China’s growth prospects in the premium sector for the coming years and this is the optimal time for us to position Brooks Brothers for long term sustainable growth,” said Del Vecchio.

    “With Walton Brown’s in-depth local market insights and extensive distribution capabilities and network in retail, we believe we can capture new opportunities to further deepen our relationship with Chinese consumers.”

    Walton Brown president Thomson Cheng said that in the 12 years since Brooks Brothers entered China, the brand has built a strong following of customers.

    “With the foundation in place, we believe the brand has enormous potential with the new generation of sophisticated and prosperous consumers in China and with the launch of the online business in 2016 we will be able to significantly increase reach with this consumer segment.”

    Following the formation of the joint venture, Brooks Brothers and Walton Brown will establish a corporate office and showroom in Hong Kong in early 2016.

    Brooks Brothers today operates more than 460 stores worldwide including over 130 retail stores in the Asia Pacific region, 90 of which are in Greater China.

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  • Hilary Tsui of Liger boutiques on her passion for fitness and fashion

    Hilary Tsui of Liger boutiques on her passion for fitness and fashion

    Marathon runner, designer and co-founder of Hong Kong’s Liger boutiques, Hilary Tsui Ho-ying talks about her two passions – fashion and fitness.

    You’ve just got back from Paris Fashion Week. What was that like? “This was the busiest fashion week I have ever had! I was in Paris to run a race as well as for showroom appointments, buying and attending fashion shows. I also took my Oh My God collection there for a trade show.”

    How would you describe Hong Kong style? “We have different kinds of style influences here. Korean is very trendy at the moment and there are lots of people still loyal to Japanese fashion. For me and my store, we still tend to be more European.”

    How have falling retail sales in Hong Kong affected plans for your Liger boutiques? “We have to be more careful in choosing brands. Actually, everyone is going through a hard time in retail, especially in the fashion industry. I hope landlords can be more considerate of their tenants when deciding on rents. If that happens, the road will be easier for everyone.”

    How can Hong Kong fashion become more competitive globally? “Quality is important. For example, a friend who founded local label Jourden now has many clients all over the world, including influential stockists like Colette and Barney’s. One of the reasons she can attract these international buyers is that she chooses high-quality fabrics.”

    How do you juggle your passions for fitness and fashion? “Our store now has a sports corner where I can display my favourite brands, trainers and sportswear. Running is not only a sport, it helps release stress – one of my favourite moments is when I can be alone and clear my mind. People always say that marathon running is a kind of meditation. And people want to be stylish when they are doing yoga, running or other exercise.”

    What is the one thing you can’t live without? “My family!”

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  • Daphne International sales slump

    Daphne International sales slump

    Hong Kong-listed shoe retailer Daphne International has reported a third quarter same store sales slump of 19.7 per cent as it continues to cull its store network.

    As earlier reported, Daphne issued a profit warning in July after reporting a fall in same store sales of 16.9 per cent in the first half of 2015, and by 17.7 per cent in the second quarter.

    In the first six months of the year, Daphne closed 181 stores – 117 directly-managed and 64 franchised stores, the majority in the second quarter. But it still has 6221 points of sale.

    Daphne operates the Daphne and Shoebox retail brands in Mainland China.

    During the third quarter, same-store sales of the group’s core brands business recorded a decline of 19.7 per cent year on year, but the company explained that was from a high base effect of 6.3 per cent growth during the same period last year.

    Overall, the same store sales decline of its core brands for the first three quarters of 2015 was 17.9 per cent.

    “The same-store sales decline was more driven by the lower average selling price, although both ASP and sales volume recorded a decrease,” the company disclosed.

    “The group continued the consolidation of the sales network, with a net closure of 219 points of sale during the third quarter (a reduction of 191 directly-managed stores and 28 franchised stores), and therefore had a total of 6002 POS under its core brands business as at September 30.”

    The one bright spot was an undefined growth in sales in its eCommerce sales during the third quarter.

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