Retail News CRM

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.

  • 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.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • 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.

    Lees ook:

    Lees ook:

  • 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.

    Lees ook:

  • 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.

    Lees ook:

  • 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.

    Lees ook:

  • 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

    Lees ook:

    Lees ook:

  • Kalyan Jewellers plans IPO

    Kalyan Jewellers plans IPO

    Indian retailer Kalyan Jewellers is planning an IPO to raise capital for expansion internationally.

    The company has plans for six stores in Qatar and an undisclosed number in Singapore, Malaysia and Sri Lanka.

    Chairman and MD T S Kalyanaraman has not revealed the timeframe for the IPO, but the move comes a year after high-profile private equity investor Warburg Pincus took a cornerstone stake in the business, effectively giving it an international scale credibility.

    Kalyan has 85 premium stores across India and in the Middle East and has a further 15 in planning. More significant is its second tier of concessions and ‘service centre’ stores branded ‘My Kalyan’ – a network currently numbering 650, with another 350 planned by March next year.

    “We had opened two [Kalyan] stores in Chennai – at Chromepet and Adayar – a couple of days ago,” said Kalyanaraman.

    “Going at this pace, we will be touching the 100-store mark towards the end of financial year 2016,” he said.

    Kalyanaraman sees huge potential in the ‘affordable diamond’ segment of the market, which it plans to service through the My Kalyan network.

    Lees ook:

  • Clarks steps up in Asia

    Clarks steps up in Asia

    British footwear brand Clarks says it sees Asia Pacific growth as a “a key strategic focus” for the company.

    The 190 year old, £1.5 billion business, plans to open 100 stores in the region in the next 12 months.

    “As we celebrate a significant birthday, we are as nimble and entrepreneurial as ever and poised for growth,” said Nancy Huang, president of Clarks Asia Pacific.

    “We see great future potential for further expansion and are excited about the possibilities.”

    Clarks, which operates through retail, wholesale, franchise and online channels has a presence in 130 markets worldwide and has been in Asia for 20 years.

    It has a strong footprint in China with 600 points of sale and hundreds of stores across Asia including the markets of India, Japan, Singapore, Malaysia and Indonesia.

    Huang says Clarks’ strong British heritage and reputation for craftsmanship has widely appealed to Asia’s rising middle class. In recent years, the company has invested heavily in building infrastructure, people resources and capabilities in Asia Pacific to support a rapidly expanding set of markets.

    The company will also invest “heavily” in reinvigorating key existing stores in China, Japan and Singapore.

    C&J Clark Limited, owners of the Clarks brand, the privately owned footwear business, was founded in Street, Somerset in the UK by the Clark family in 1825. Still based in Street, the Clarks Group designs, develops and sells a wide range of footwear and accessories for men, women and children. The Clarks brand is renowned worldwide for quality and style with comfort.

    Lees ook:

    Lees ook:

    Lees ook:

  • Coach Canton Rd flagship opens

    Coach Canton Rd flagship opens

    US fashion brand Coach has opened a new flagship in Kowloon.

    Coach Canton Rd is the company’s second flagship store in the territory and gives it one superstore on either side of the harbour; the other one is located in Central.

    The new 4000 sqft flagship store spans a whole three floors in the Harbour City complex.

    Designed by Coach executive creative director Stuart Vevers, in partnership with world renowned creative firm Studio Sofield, which has also completed projects for Gucci, Bottega Veneta and Tom Ford.

    Store features include a ready-to-wear shop with custom furniture.

    To mark the opening, Coach has released a limited edition Suede Coach Swagger bag available in Navy and Black Cherry, for a limited time exclusively at the new store.

  • G-Star Raw eyes Malaysia, Vietnam

    G-Star Raw eyes Malaysia, Vietnam

    Fashion denim brand G-Star Raw says it is considering forays into Malaysia and Vietnam after a successful debut in India.

    G-Star recently opened its first Indian store in Mumbai’s Palladium Mall and plans a network of up to 35 stores by 2020 in partnership with local venture Genesis Luxury.

    “India is an emerging powerhouse, and we want to be part of this growth – particularly as the middle class’ capacity to spend on consumer goods, such as clothing, continues to increase,” a spokesperson for the company told Just Style.

    G-Star Raw already has stores in Australia, China, Japan, Singapore, Thailand, Indonesia and the Philippines.

    “We are looking to expand into Malaysia, and potentially Vietnam, in the future,” the spokesperson said in the interview.

    “We believe the G-Star Raw brand has the potential to grow not only in metropolitan cities, but also in these fast emerging ‘smart cities’.”

    Lees ook:

    Lees ook:

  • Gap Inc sales slip

    Gap Inc sales slip

    Gap Inc has reported a two per cent fall in global sales in the second quarter – but says its turnaround is on track.

    “I remain confident in our strategies to improve business performance and drive loyalty going forward,” said CEO Art Peck. “Our evolving product operating model is laying the foundation to more consistently deliver on-trend product collections across our portfolio.”

    Gap Inc’s comparable sales by global brand fell six per cent for its primary Gap brand, (compared with a five per cent drop in the same period last year), Banana Republic fell four per cent, (flat last year) and Old Navy grew three per cent (up four per cent last year).

    But the company says it delivered earnings per share growth of 12 per cent in the first half year. While Old Navy is clearly gaining momentum, the Gap brand continues to make progress against its strategic actions, including “right-sizing its North America store count to create a smaller, more vibrant fleet of stores”, the company said.

    “The brand’s leadership team remains focused on an aggressive agenda designed to improve business performance, including the implementation of a clear, on-brand product aesthetic framework and a new product operating model to increase speed, predictability and responsiveness.”

    Gap’s global store count continued to rise outside North America, as the chart below shows.

    Gap chart

    Lees ook:

    Lees ook:

    Lees ook:

  • K-beauty brand Hera uses DFS as testbed

    K-beauty brand Hera uses DFS as testbed

    Luxury duty free and travel retailer, DFS Group, has opened pop-up stores in Hong Kong for the K-beauty brand Hera which the latter is using as a testbed for the global market.

    The T Galleria by DFS on Canton Road houses four pop-ups, with a launch in early August in the presence of Hong Kong actress Charmaine Sheh and Korean movie star Park Eun Hye. Hera’s head make-up artist, Jinsu Lee, was on hand to share beauty tips to achieve the signature K-beauty Seoulista look.

    BRIDGE TO ASIAN MARKETS

    Hong Kong is the largest cosmetics market in Asia and Hera’s first-ever pop-ups are expected to be a bridge to other Asian countries. The DFS units  bestselling fan-favourites, including the Olympia Le-Tan UV Mist Cushion, UV Mist Cushion and Age Reverse Cushion.

    Hera is known in Korea for cutting-edge technology and is popular with women looking to emulate increasingly popular K-beauty styles seen in K-pop music and K-drama TV shows.

    Jinsu Lee will offer Seoulista make-up demonstrations as well as touch-up services to customers with the stores are in place. All four pop-ups will offer a limited supply of product kits to customers with a minimum purchase.

    Lees ook:

    Lees ook:

    Lees ook:

  • Estee Lauder travel-retail revenue falls

    Estee Lauder travel-retail revenue falls

    Cosmetics-giant Estée Lauder Companies reported a decline in travel-retail sales in fiscal year 2015 (ended June 30, 2015), despite an increase in global airline traffic and expanded distribution in the channel.

    The company said that a stronger dollar and the outbreak of Middle East Respiratory Syndrome (MERS), which killed nearly 40 people in South Korea this year, contributed to decline, with travel-retail sales falling by 4% in the last quarter of fiscal year 2015.

    Over 55,000 tourists had cancelled trips to South Korea by the mid-June, according to the World Economic Forum.

    Slower retail growth in Hong Kong and China, as well as a decline in spending by Russian and Brazilian travellers are also expected to impact sales revenue into the 2016 fiscal year.

    The news came as the company also forecasted below-estimated earnings across the whole business for the coming fiscal year, and announced that net sales in the fiscal year ending in June went down to $10.78bn, a 1.7% decrease from $10.97bn the previous year. The company said it missed its 7% growth target because of accelerated sales orders in Latin America and the use of constant currencies to calculate international profits.

    For the three months ended June 30, 2015, the company reported net sales of $2.52bn, compared with $2.73bn the previous year. Skincare products were chiefly affected, with overall sales falling by 16% in Q4.

    However, expanded distribution, including in travel-retail, also helped lift some labels’ revenues. While sales for heritage-brands Estée Lauder and Clinique slumped, the conglomerate’s current global-marketing focus has been on growth for youthful or luxury brands like Smashbox and Tom Ford. Along with Aveda hair-care product, these brands’ expanding travel-retail channels were reported by Estée Lauder Co. to have resulted in year-on-year revenue growth that has helped offset some of this year’s losses.

    The company has said that by adjusting to factors like constant currencies and accelerated orders in the fiscal year 2014, strong underlying growth in the company becomes apparent.

    President and CEO Fabrizio Freda said in the company’s report for the fiscal year 2015 (Q4 and full year): “Together with our powerful brand portfolio and financial discipline we finished our fiscal year with a strong Q4, generating 7% constant currency sales growth, after adjusting for the accelerated sales orders we reported in fiscal 2014.

    He added “For the full year, our adjusted 6% local currency sales growth met our expectations, and we exceeded our earnings per share forecast …Our sales grew at a faster rate than global prestige beauty, due to the success of our multiple engines of growth. Standout performances generated double-digit sales gains in most of our makeup and luxury brands and the online, specialty-multi and freestanding store channels.

    “In fiscal 2016, we expect constant currency net sales growth of 6% to 8% and double-digit earnings per share growth, after adjusting for the accelerated sales orders.”

    Reuters reported on Monday that Estée Lauder Cos Inc shares fell by up to 5.3% to $82.8 per share yesterday, but the value rose to $84.48 today (still down from $90 reported at the beginning of this month). Estée Lauder is currently expanding its travel-retail offering, focusing on colourful, clean brands like Mac and Smashbox, as well as its successful London brand Jo Malone.

    Lees ook: