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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.

  • Seed Heritage opens at VivoCity

    Seed Heritage opens at VivoCity

    Australian childrenswear chain Seed Heritage has opened a new store in VivoCity.

    It is Seed heritage’s second store in the city state, following its debut in Parkway Parade.

    Last week’s opening was marked with a 20 per cent off storewide sale across its range of baby, child and teenage girls clothing, which ended on Sunday.

    Seed Heritage is one of Australia’s most popular premium childrenswear brands, providing solutions from top-to-toe for babies, boys, and girls, from the ages of newborn to 10 year olds. It recently expanded its range into a teen collection for girls aged eight to 14 years.

    Seed Heritage is best known in Australia for its quality and detail and distinctive design across apparel, shoes, accessories, and toys.

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  • H&M positive to the uniform minimum wage set in Myanmar

    H&M positive to the uniform minimum wage set in Myanmar

    At H&M, It is positive to the uniform minimum wage that has been set by the Government. A uniform minimum wage across all industries is essential for the sustainable economic development not only for the textile industry but also for the country as a whole.

    H&M also believes that the minimum wage should be reconsidered through an annual review mechanism, which is inclusive of key stakeholders. It aims at laying the foundation for a vibrant tripartite industrial relation and wage level negotiations process based on transparency, inclusiveness and peaceful negotiation.

    The above has been addressed in two joint letters to the Government of Myanmar. H&M has also met with the Ministry of Labor and expressed the expectations about setting minimum wage levels and annual review mechanisms to ensure that workers receive a fair wage.

    H&M’s role is to contribute to a working environment in the factories where a skilled workforce has their wages annually reviewed and negotiated. It is believed that meaningful collective bargaining is very important and are looking at ways to strengthen it. Workers’ ability to organise and negotiate about their rights is key to improve working conditions. That is why   industrial relations has set as one of our main sustainability focus and will launch a project to strengthen industrial relations in Myanmar in 2015.

     

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  • Chow Tai Fook changes strategies to tackle tough market

    Chow Tai Fook changes strategies to tackle tough market

    Chow Tai Fook Jewellery Group is renegotiating store rents and consolidating its retail network in order to manage rental costs, chairman Henry Cheng Kar-shun said on Thursday.

    Amid a downturn in the city’s retail landscape, the largest Hong Kong-listed jeweller in terms of market capitalisation had also shifted focus to smaller-priced items to attract customers, Cheng said.

    Business is getting tougher for retailers, with sales in July dropping 2.8 per cent from a year earlier to HK$37.6 billion, following a 0.4 per cent fall in June. The drop in July was the biggest since March’s decline of 2.9 per cent.

    Sales of jewellery, watches, clocks and gifts all recorded a smaller decrease of 5 per cent, after four months of double-digit falls.

    “There are a number of external factors that are out of our control, such as the macroeconomic conditions, the central government’s policies and the devaluation of China’s currency,” Cheng said. “What we can do is do our best to operate the business well.

    “While we are still making profits in all of our [Hong Kong] stores, we may consider cutting some to maximise profits. For example, if we have three shops on one street, we may opt for two in order to cut costs.”

    Facing a sluggish retail market, commercial landlords are now willing to set more realistic prices and reduce rents.

    Cheng said the company was renegotiating with landlords to lower rents and the extent of rent cuts would depend on the business performance of the store concerned, said Cheng, suggesting the average cut could be between 20 and 30 per cent.

    Chow Tai Fook in June reported net profit for the year ended March fell about 25 per cent to HK$5.46 billion from the previous year.

    Revenue dropped 17 per cent to HK$64.28 billion.

    The average selling price of gem-set jewellery fell 12.7 per cent and that of gold products declined 1.2 per cent.

    The company extended its e-commerce network to strengthen its capability to reach more online customers, particularly the younger generation, said Cheng, adding the online division was making profits.

    He was speaking at an event to mark the company’s unveiling of a diamond piece centred on a 24 D-colour internally flawless diamonds cut from a 507.55 carat rough diamond, known as the Cullinan Heritage, that Chow Tai Fook acquired for HK$275 million in 2010.

  • SSI hunts ASEAN retail brands

    SSI hunts ASEAN retail brands

    Leading Philippines retail group SSI says it is actively seeking to acquire brands and suppliers in the region that can help it build its ASEAN retail portfolio.

    “We continue to seek brands and suppliers that manufacture within the Asean region that would allow us to make the most of Asean free trade agreement. That is a key to our expansion and success in the recent past – to expand our retail concepts in new geographic areas,” SSI president Anthony T. Huang told the Manila Times.

    ASEAN, which comes into effect later this year, groups 10 economies in Southeast Asia, creating a free trade zone with less restricted borders. Participating countries are Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar and Vietnam.

    “We’re hopeful because we have ongoing discussions [with potential acquisitions and partners] but nothing final at this time,” Huang said.

    “We’ve really been focused on the new acquisitions that we have to roll out next year and on the existing brand portfolio that we’re continuously rolling out and the continued expansion of FamilyMart,” he said.

    SSI is also in talks with other foreign brands outside the ASEAN group as it builds a portfolio of lifestyle and fashion brands. Its most recent deal was to partner with Canadian fashion label Joe Fresh.

    Huang says foreign brands find the Philippines appealing because the culture is westernised, it has a young population, strong growth and rising middle class with discretionary income.

    “We have the youngest population in the region. ‘Youngest market’, that’s the magic formula.

    “We’re seeing continued interest that many of the international retail concepts that should be in the market are in fact already in the market. But interests from new concepts are coming in to expand in the region,” he said in the interview.

    SSI’s portfolio already includes 115 brands.

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  • Hermes Japan sales boom

    Hermes Japan sales boom

    Hermes Japan has driven the luxury handbag and apparel brand to a 20 per cent increase in first half profit.

    For many successive quarters, Japanese have been maintaining tight control of their spending – but this year life has returned to the retail sector – and the luxury market especially. And cashed up Chinese – who once travelled across the border into Hong Kong for their high fashion indulgences – are now heading to Japan instead.

    Hermes International says the Japanese sales increases has proved more than enough to make up for China’s economic slowdown, where sales have slipped for most luxury brands this calendar year.

    Paris-headquartered Hermes says its global operating income increased to US$842 million on sales up 21 per cent to US$2.58 billion.

    Hermes says its Japanese sales climbed 20 per cent in the six months to June 30 at constant exchange rates. Across the rest of Asia, sales rose just seven per cent; in Hong Kong they dipped by an unspecified amount. That market was “difficult”, the company said.

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  • RedWhite Apparel expands abroad

    RedWhite Apparel expands abroad

    Singapore-born sportswear brand RedWhite Apparel is expanding into two new Asian markets.

    RedWhite Apparel makes clothing for cyclists, high quality gear for those undertaking ultra-long distance rides.

    The company has announced the appointment of CobbleSports in South Korea, which will be managing online sales of the brand’s products, distributing to independent retailers and executing a marketing program.

    And in Japan RedWhite Apparel has appointed Funks Trading to oversee retail and wholesale distribution.

    Founded just last year with only one product – a $150 ‘bib short’ manufactured in Italy – the brand is achieving success beyond expectation in Asia and is now eyeing an entry into the US market. It has achieved distribution in five stores in Thailand and is stocked in London by UK boutique Always Riding.

    The brand’s founder is Yuvaraman Viswanathan, whose previous job was as a designer with Dyson in Singapore.

    Launched in August 2014 initially through retailers, the company now retails direct online and is already shipping goods internationally. About 70 per cent of sales are into the US.

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  • Coach to exit landmark location in Hong Kong

    Coach to exit landmark location in Hong Kong

    Leather goods maker Coach Inc. is shutting one of its three flagship locations in Hong Kong, the latest retailer to be hit by the drop in the number of mainland Chinese visitors to the city amid a slowing economy and weaker yuan.

    The store towers above Queen’s Road Central in the central business district of a city where high rents and labour costs, as well as slowing sales, have hit other retailers.

    Coach said the store would close on August 31 but said it remained committed to the Hong Kong and China markets. Earlier this month, Coach said its mainland China sales grew 9 per cent year-on-year to $595 million in fiscal 2015, but growth in Hong Kong and Macau was slower.

    “Sales growth in China was driven entirely by the mainland, as Hong Kong and Macau continued to experience traffic declines from a decrease in PRC (People’s Republic of China) tourists,” Chief Executive Victor Luis said.

    For this fiscal year, China sales growth is forecast to slow to about 5 per cent, the company said. Chinese tourists have been the main customers of Hong Kong’s luxury retailers, but the slowing economic growth and the recent devaluation of the yuan have dented their once voracious appetite for goods ranging from cosmetics to luxury watches.

    Tighter visa rules and a flare up of anti-Chinese sentiment in Hong Kong have also contributed to the decline in mainland visitors. Hong Kong’s retail sales fell for the fourth straight month in June.

  • Milan Station’s interim sales in Macau drop 78.6 per cent

    Milan Station’s interim sales in Macau drop 78.6 per cent

    Luxury handbag store chain Milan Station Holdings Ltd. has reported a sharp 78.6 per cent year-on-year decline in its retail revenue derived from the Macau market for the first six months of this year, the company announced in its results filing with the Hong Kong Stock Exchange.
    The company said its business in the city has been significantly affected as the gambling industry and tourism trade had ‘hit their troughs’. Milan Station’s retail revenue in Macau in the interim period was HK$11.8 million, representing 5.7 per cent of overall sales revenue.

    During the interim period, Milan Station closed its retail stores in Macau; while its points of sale in ‘exclusive clubhouses’ was unsatisfactory.
    By price range of product, revenue derived from Milan Station’s items priced at above HK$50,000 – comprising over half of the company’s sales revenue – saw a 31.1 per cent year-on-year decline to HK$118.3 million. As Milan Station has also sold less in Hong Kong, Mainland China and Singapore, the retailer’s overall retail revenue plunged 36.6 per cent to HK$208.8 million.

    The company said its loss for the period decreased significantly by 65.6 per cent to HK$6.8 million, under what it called ‘effective cost control’ and a one-off gain of about HK$12 million from the disposal of a property.

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  • Myanmar sets daily wage minimum to boost apparel manufacturing

    Myanmar sets daily wage minimum to boost apparel manufacturing

    Last year Gap Inc. was the first U.S. retailer to return to Myanmar for its apparel manufacture, a major sign of the potential return of the country’s once-thriving garment industry.

    But demonstrations by labor unions over working conditions and pay have hampered progress in the three years since U.S. sanctions were lifted, after which Myanmar also attempted its first minimum wage boost.

    Even with the increase in minimum wage that is apparently acceptable to most labor groups and factory owners, Myanmar will still have among the lowest wages in the world. And its standards for factory conditions are seen as lower than in Bangladesh, the site one of the deadliest garment factory collapses in history.

    The government was under pressure not to raise the wage too high out of fear that retailers would turn to South Korea, China, and other countries with established manufacturing. The wage is for eight-hour days in a six-day week; it doesn’t address overtime pay or working conditions. Last year Myanmar exported $1.5 billion of clothes and materials, up from $1.2 billion in 2013 and $947 million in 2012, according to the Global Trade Atlas.

    Still, the stability and the raise, if slight, is seen as an encouragement to more investment by U.S. and other apparel retailers, which can now count on an official wage structure to help them determine costs. Gap and H&M already source goods from there. The country’s economy is predicted to grow 8% this year, according to the World Bank.

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  • Sandara Park is newest int’l endorser of Pinoy fashion retail brand

    Sandara Park is newest int’l endorser of Pinoy fashion retail brand

    Korean super star Sandara Park whose road to international fame started in the Philippines decided to return to where it all started by endorsing a local fashion retail brand.

    “Hey guys! It’s me Sandara Park. And guess what? I’m the newest member of Team Penshoppe. I had a great time shooting my first campaign and I love the clothes,” Park said in an Instagram clip as she broke the news to her fans.

    The Korean superstar made the announcement Thursday with a caption, saying she’s “happy” to be the newest face of the local retailer.

    She also included a teaser photo of the campaign shot by photographer Cliff Watts who flew in from New York for the shoot.

    The shoot took place last month at Golden ABC’s Studio 1155 and Gallery.

    The long list of international celebrity endorsers include Cara Delevingne, Kendall Jenner, Nina Dobrev, Leighton Meester, Ed Westwick, Josh Bowman, Mario Maurer, Ian Somerhalder and the world’s highest paid male model, Sean O’Pry.

  • America’s bebe stores to enter Greater China

    America’s bebe stores to enter Greater China

    US-based global specialty retailer of contemporary women’s apparel and accessories – bebe stores, inc. has announced that it has signed a strategic cooperation agreement with Longgoal LLC, a leading Shanghai-based agency of international high-end brands.

    In a press statement, it said the agreement includes a five-year exclusive license to open between 60 and 150 retail and wholesale bebe points of distribution in Greater China, Hong Kong, Macau and Taiwan. The first boutique is expected to open in the summer of 2016.

    “As we continue to expand our international footprint, our entrance into Greater China is a significant opportunity to accelerate that growth and reinforce bebe as a global lifestyle brand for women. We look forward to working closely with the Longgoal team, who have a proven track record of success and operational experience in introducing high profile retail brands to this key market,” said Jim Wiggett, CEO of bebe stores, inc.

    As a part of the agreement, Longgoal will open a minimum of 60 points of sale in Mainland China, including free standing boutiques and bebe shop-in-shops and identify third party retailers in certain provinces of China to sublicense the brand for retail operations. Longgoal is currently identifying potential locations in Shanghai and Beijing, including flagship boutiques. After the five-year exclusive term, Longgoal retains an option for an additional 10 year partnership with bebe based on performance.

    “bebe is truly an iconic affordable luxury brand and one that we are honored to have the opportunity to introduce to women across Greater China in a variety of ways. As style and design are among the top priorities for sophisticated woman in China, we are confident that bebe’s bold design and contemporary fashion will appeal to the ever-changing lifestyle of the confident and sexy modern Chinese woman,” said Madam Celine Chen, Chairwoman of Longgoal LLC.

    bebe plans to locally design and develop up to 30 per cent of the product for China to create trendy fashion styles to reflect the local fashion and suit the bebe woman’s lifestyle in China. In addition, the company anticipates expanding further into licensing agreements for handbags, shoes and intimates in the initial partnership phase.

    bebe complements Longgoal’s current portfolio of retail brands, including GANT, the original American Sportswear brand launched in China nearly a decade ago, and Thomas Pink, the luxury British shirt brand under the LVMH Group.

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  • F J Benjamin narrows FY15 loss

    F J Benjamin narrows FY15 loss

    Retail group F J Benjamin’s net loss for the financial year ended 30 June narrowed from S$22.1 million to S$16.99 million.

    Revenue slid 20 per cent year on year to S$293.41 million amid a challenging year on the back of reduced business in North Asia, currency volatility as well as lower tourist arrivals. The group rationalised its store portfolio, which caused it to incur impairment charges for store closures, early termination of leases, stock provisions and redundancies.

    “While this has impacted turnover, it has yielded significant improvements in the productivity of its stores across the region,” the group said.

    Loss per share came to 2.99 Singapore cents, versus a loss per share of 3.89 cents a year ago.

     No dividend was declared for the current year. In the corresponding period a year ago, a first and final dividend of 0.25 cents per share was announced.

    It said: “The group will complete its rationalisation and planned closure of two remaining stores by end December 2015. To address the shift in consumer trend and structural change in retail environment, it has also undertaken a restructuring of its in-house brand, Raoul, to improve performance on a reduced cost base.”

    It expects consumer sentiment to remain muted given global economic and political uncertainty. Meanwhile, it is striving to further improve inventory management and cost efficiencies.

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  • Coach Singapore opens next gen store

    Coach Singapore opens next gen store

    Coach Singapore has unveiled its new generation store on Orchard Rd in the Wisma Atria shopping centre.

    The New York-headquartered brand describes the new store format as its “next generation retail concept”.

    So important is the new outlet to the brand, South Korean superstar Jay Park was flown in to preside over the launch party.

    Coach Wisma Atria Singapore

    The store, a refurbishment, features the full range of men’s and women’s lifestyle collections, and is the first by the brand to feature a counter providing complimentary personalisation services.

    “We are thrilled to unveil our modern luxury retail concept at the Coach Wisma Atria flagship store,” said Coach South East Asia and Oceania president Andrew Stanleick.

    Coach Wisma Atria 1

    “I believe the new incarnation of the Coach store that Stuart and William Sofield created will trigger a powerful change in the perception of Coach. It is sophisticated and refined, yet playful and authentic.”

    The new concept was developed by Coach executive creative director Stuart Vevers in cooperation with creative firm Studio Sofield. Coach says the design team sought to reinvent the Coach brand, drawing from a wide range of influences, placing a premium on contrasting textures and luxe materials.

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  • Israel’s Teva Naot expands in Japan

    Israel’s Teva Naot expands in Japan

    Israeli sandal maker and retailer Teva Naot is gaining a cult following in Japan.

    The footwear brand has just opened its fifth “high class boutique” in Japan, and plans even more stores as it wins the hearts and wallets of Japanese.

    The company already has three stores in Tokyo and one in Nara in the Kansai region of Japan’s south. The new store will be in Tokyo.

    CEO, Michael Iluz,says its shoes have become extremely popular among Japan’s business and celebrity class.

    Teva Naot shoes are handmade from high quality materials and positioned at the premium end of the market. It has designed a range of 20 sandals specifically for the Japanese market to reflect local tastes, fit and trends. The stores are designed to evoke a ‘high class, luxury’ shopping experience.

    The Israeli newspaper Maariv reports the company sold more than $3.6 million worth of shoes in Japan this financial year and expects sales to reach as high as $5 million in 2016.

    Teva Naot has also met with success in South Korea.

  • Bottega Veneta reopens Hong Kong flagship

    Bottega Veneta reopens Hong Kong flagship

    Luxury fashion brand Bottega Veneta has reopened its expanded boutique in Kowloon.

    Bottega Veneta Harbour City originally opened in 2002. This month the store completed a significant refurbishment and expansion.

    Botega Veneta Hong Kong 3

     

    The new fit out features custom made New Zealand wool carpets, walnut display tables, mohair, and leather-wrapped door handles to helping create a sophisticated, yet relaxing dwelling and shopping environment.

    Bottega Veneta Hong Kong

    Bottega Veneta has nine boutiques in the territory, where it made its debut in 2001.

    The brand creates and sells ready-to-wear clothing and accessories.

    Botega Veneta Hong Kong 2

     

    Bottega Veneta was founded in Italy in 1996 and is now part of the Gucci Group, now owned by French-based multinational luxury brand house Kering.

    Bottega Veneta Hong Kong1

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