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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.

  • Global Brands chases higher margins

    Global Brands chases higher margins

    Li & Fung spinoff Global Brands has reported stronger margins as it continues to shed non-performing brands in favour of higher end products.

    The group’s total margin continues to rise, growing as a percentage to turnover from 29.7 per cent to 31.7 per cent in the first half of the current financial year.

    Turnover of US$1.282 billion was down five per cent due to “the tail end of the discontinuation of underperforming businesses” and a weak euro. Excluding those factors, turnover actually grew by about six per cent.

    CEO Bruce Rockowitz said as the company marked its first year as a standalone, listed business it continued to build on a solid foundation “as the partner of choice for American power brands in the affordable luxury space”.

    “We have sharpened our organisational focus around our product categories, as we continue to improve our business mix towards higher margin areas while at the same time driving operational synergies across the organisation. Today, we have a strong portfolio of brands and an excellent platform to take them global through either licensing, ownership or brand management,” he said in a statement.

    Global Brands’ business is always stronger in the second half of the year due to back-to-school sales and a higher concentration of holidays during this period, and the fact that some of the brands, such as Frye and Spyder, together with product categories like winter accessories, are more skewed towards the fall and winter seasons.

    “We continue to invest in and strengthen our business,” said Dow Famulak, president and COO. “Within Licensed Brands, the characters and kids fashion areas continued to perform well. This strong performance comes as we leverage our unrivalled global platform and our position as one of the largest licensees of all major kids entertainment franchises.

    “On the Controlled Brands side, we have added Jones New York to further strengthen our women’s fashion and apparel brands portfolio. We also continue to grow our key Controlled Brands, such as Frye, Spyder and Juicy Couture and have bolstered our management teams across several brands.”

    Added Rockowitz added: “Consumer appetite for leading American affordable luxury brands remains strong, especially as consumers’ demand for these brands has been fuelled by the widespread access to the online arena that makes these brands more popular than ever globally. Looking ahead, we expect our leading businesses to continue to perform well and maintain the course of their growth trajectory. At the same time, we will continue to increase our geographic footprint and look for strategic opportunities to add to our existing platforms, through both licenses and acquisitions.”

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  • Soo Kee Group launches IPO

    Soo Kee Group launches IPO

    Singapore retail jeweller Soo Kee Group has launched an IPO to raise funds for expansion in Singapore and Malaysia.

    Soo Kee will sell 112.5 million shares at S$0.30 each, which will raise $33.75 million after expenses. The majority of the shares will be placed with just 9 million available for public offer.

    Soo Kee’s strategy is to open new retail stores in prime shopping malls in both countries and expand its product range as it seeks to boost its share of both markets.

    Founded in 1991, Soo Kee retails jewellery and keepsakes through stores branded SK Jewellery, Soo Kee Jewellery and Love & Co. Last year it achieved sales of $134.5 million and turned a profit of $10.8 million.

    The IPO closes on August 18 with shares to begin trading on August 20.

    Group CEO Daniel Lim said the company had always planned to go public “to improve the visibility for the company, so that we can better serve a wider pool of customers”.

  • Li Ning completes resurrection

    Li Ning completes resurrection

    Just a year ago, sports retailer Li Ning seemed down for the count, battling to stem the red ink.  This week it released its half year results to June 30: Revenue rose 16 per cent and it has finally returned to profit.

    The once beleaguered Chinese sports brand – which peaked in brand awareness about the time of the Beijing Olympics in 2004 – has recovered its mojo: Sales are up, it is expanding its store network once more, all the result of a root and branch review of the whole business, from the way it sources and designs products to the way it operates its stores and how it disposes of end of season stock.

    Li Ning has recorded total sales of RMB 3.641 billion – about US$567.5 million. Its profit may have been a modest RMB 260 million (US$40.5 million), but this year both profit and cashflow turned positive. In the same six months last year, Li Ning lost RMB 350 million, or US$54.6 million at today’s exchange rate.

    Significantly, the second quarter was a better one for the business than the first. Li Ning says same store sales in retail registered growth in the high teens on a year on year basis. “The entire store network registered low teens year on year growth,” the company said.

    As at the end of June, Li Ning had 5745 stores, including flagships, conventional stores, factory outlets and discount stores – 119 more than six months earlier.

    During the first half the company “vigorously implemented clearance of obsolete inventory,” optimizing its stock structure to lay a solid foundation for the growth in the second half of the year and into the next.

    Li Ning has also approached senior management of nine leading shopping mall groups in China – including Parkson, Bailian, Grandbuy, RT-Mart, Rainbow and Maoye – to discuss partnerships and expansion plans.

    “In 2015, we have opportunities for opening over 100 new points of sale and renovating over 30 [more] in the premises of these groups,” the company said in its trading results overview.

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  • Luk Fook opens Causeway Bay flagship

    Luk Fook opens Causeway Bay flagship

    Luk Fook Holdings has opened a three-storey Lukfook Jewellery flagship store in Causeway Bay.

    The group held a ribbon-cutting ceremony for the new store this week, inviting Japanese cartoon character Rilakkuma to join in the celebrations.

    Wong Wai Sheung, chairman and CEO of Luk Fook said the three storey shop is located in the central area of Causeway Bay, “a shopping hotspot with high pedestrian flow”.

    “We believe that the opening of new shop at a prominent location not only expands our sales network, but also brings convenience to the tourists and local customers for their leisure shopping in Hong Kong. As a globally renowned jewellery brand, the group will continue to optimise the retail network in Hong Kong and provide high-quality jewellery products and excellent services for customers.”
    Featuring prominent three storey tall mega billboard advertising, the store is decorated with luminous materials, such as mirrors and metal steel, with leather interspersed throughout the shop to create a more distinct three-dimensional and multi-layered effect and “a soft yet noble and elegant shopping environment”.

    The first floor of the shop features a ‘Western Wedding Zone’ in the warm, romantic pink tone to display a wide variety of wedding jewellery products. New couples and their families can select wedding jewellery in a comfortable and spacious environment. In addition, our professional sales team offers professional advice, and provides caring value-added services including providing shawl of Chinese-style dress to match with the selected gold jewellery, and free on-site engraving services, etc, for customers to enjoy a superior shopping experience.

    The store is located on the Ground, 1st and 2nd floors of 499 Hennessy Rd.

  • Hugo Boss shareholder says group will boost presence in China

    Hugo Boss shareholder says group will boost presence in China

    German fashion house Hugo Boss will expand its presence in China, key shareholder Gaetano Marzotto said in an interview in newspaper Welt am Sonntag.

    Despite slowing growth in the world’s second-largest economy, Marzotto told the paper that he saw the potential for higher sales in China.

    “Up until now China accounts for less than 10 percent of group sales, this could be ramped up,” Marzotto said in an advance extract of an interview to be published on Sunday.

    His family clan holds a 7.95 percent stake in Hugo Boss, making it the company’s biggest shareholder.

    The Chinese are the world’s biggest buyers of luxury goods and have been increasingly shopping abroad as big shifts in exchange rates make luxury items much cheaper for them in Europe than at home.

    Hugo Boss’s currency adjusted sales in the country increased 1 percent in the six months through June versus a decline of 2 percent in the prior year period.

    Finance chief Mark Langer said earlier this month he did not expect an improvement soon in China, which contributes about 8 percent of group sales.

    Hugo Boss recently took over 21 stores in China, previously operated by a partner, to strengthen its brand in the market.

    The group has been spending heavily on expanding its own store network, where sales are more profitable than through other retailers’ shops.

  • Uniqlo Launches its Magic for All Collection

    Uniqlo Launches its Magic for All Collection

    UNIQLO today announces the launch of MAGIC FOR ALL – the line of apparel that adds a touch of Disney enchantment, Marvel action, Star Wars adventure and Disney-Pixar creativity to everyday LifeWear fashions – in UNIQLO stores and online sites from this week. To communicate the MAGIC FOR ALL sentiment to adults and children alike, UNIQLO will begin to unveil a new print, digital and in-store advertising campaign called ‘Shadow Magic.’

    “MAGIC FOR ALL aims to bring the magic of The Walt Disney Company and its iconic brands to the complete UNIQLO customer experience,” said John Jay, President of Global Creative, Fast Retailing Co., Ltd. “Our collaboration with the Disney Products Company is not simply about products; it is about a positive and joyful expression whenever you enter the world of Disney. The new advertising campaign shows how there is a Mickey or a Minnie in all of us, no matter our age or position in life. From art to design competitions, to exclusive in-store events and more, our hope is to express MAGIC FOR ALL in a fun and sophisticated way.”

    UNIQLO began its relationship with Disney Consumer Products in 2009, with the introduction of its first line of UTs (UNIQLO T-shirts) featuring iconic and treasured Disney characters, Mickey Mouse and Minnie Mouse, to the delight of customers worldwide. Through MAGIC FOR ALL, UNIQLO launches new items featuring Disney characters, including innovative products such as the Plush/Mickey Mouse and the Mickey 100 series of exclusive T-shirts.

    The Plush/Mickey Mouse items are the first ever to be made using UNIQLO’s signature fleece and flannel fabrics. Sold initially in 16 different colors and patterns, UNIQLO aims to increase the line and offer more variations throughout the year.

    The inspiration for the Mickey 100 series was taken from 100 exclusive new designs for Mickey Mouse. Leading Disney creatives designed various original miniature Mickey Mouse statues that will be exhibited in UNIQLO global flagship stores around the world, starting with the MAGIC FOR ALL concept store that will open in Shanghai on September 27. Fifteen of the designs were reproduced on colorful UTs, which include five exclusive designs for children.

    The MAGIC FOR ALL 2015 fall winter collection includes several hundred items in all, for men, women, kids and babies, and it offers a wide range of products, everything from Ultra Light Down, fleece, flannel shirts, and UTs, to plush, umbrellas, room slippers and more. The collection features Mickey Mouse and Minnie Mouse, as well as popular characters from Stars Wars, Disney-Pixar Animation Studios’ Toy Story, Marvel’s Avengers and Disney’s Frozen.

    Launch date and product assortment may vary according to UNIQLO store and market.

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  • Hublot hosts its largest pop-up in the world in Singapore

    Hublot hosts its largest pop-up in the world in Singapore

    Swiss luxury timepiece-maker Hublot may be considered a “young” player in a market where its competitors have storied histories. But it has already made its mark.

    Founded in 1980 by Italian Carlo Crocco (who used to be part of the Binda Group, which makes Breil watches), one of the company’s early successes was a watch that had a natural rubber strap (a first in the history of watch-making back then). Despite a disappointing showing at the renowned timepiece fair in Basel, it soon sold in excess of US$2 million (S$2.79 million) in its first year. To date, Hublot has 50 boutiques all over the world.

    In 2005, Hublot’s then-CEO Jean-Claude Biver created a flagship collection called the Hublot Big Bang chronograph. It was an immediate success and orders increased threefold in one year. By the end of that year, the Big Bang chronograph received the 2005 Design Prize in the Geneva Watchmaking Grand Prix, along with other international awards.

    Now, some 10 years later, Hublot is celebrating the Big Bang in a unique way in Singapore. It will be putting up its largest pop-up store in the heart of Orchard Road at Ngee Ann City Civic Plaza — an idea that Ricardo Guadalupe, the current CEO of Hublot, credited to its long-time retail partner The Hour Glass.

    “With the help of our long-time partner and luxury watch retailer The Hour Glass, Hublot’s presence has stayed strong in Singapore and regionally for the last 30-over years,” he said in an email interview. “This pop-up store is an initiative fronted by The Hour Glass and we cannot be more supportive of this event. It is the largest Hublot pop-up store globally and … visitors can expect to see the world of Hublot on a panoramic scale — from haute horology to craftsmanship and lifestyle gears that Hublot has to offer.”

    “Some of Hublot’s latest collections such as the Big Bang Denim and Big Bang Broderie, showcase Hublot’s story of fusion,” said Wong Mei Ling, managing director of The Hour Glass Limited. “Hublot remains the first luxury watch brand to use real denim material in their timepieces, while the Big Bang Broderie is a nod to traditional artisanal lace craftsmanship while combining technical watchmaking — once again celebrating the story of fusion.”

    A key highlight of this store, said Guadalupe, is the two limited editions that have been specially created for Singapore. “The first is the Red Dot Bang, a timepiece created in two cases — Hublonium and Yellow Bang. It is a nod to not only the iconic Big Bang that made Hublot the success story it is today, it also showcases Hublot’s strength in material engineering,” he elaborated, adding that it was a limited run. There will be 50 pieces of the Hublonium variant in a tribute to Singapore’s 50th birthday and 10 pieces of the yellow-gold variant at the pop-up store.

    “Placing the red ‘10’ index on the dial also holds a dual meaning — it is an homage to Singapore’s national colour and the number (is) to celebrate Big Bang’s 10-year anniversary,” said Guadalupe.

    The other timepiece of note is the one-of-a-kind Hublot Manufacture MP-05 La Ferrari Golden Jubilee, which the company calls the “the super machine of all time machines”, adding that it was “a suitable model to develop … for Singapore”. This edition features a gleaming yellow-gold case set with 440 baguette-cut diamonds worth at least 13 carats.

    Not surprisingly, Guadalupe was effusive about the experience that visitors could take away from its pop-up event. “With every project that Hublot executes, we want our visitors to feel inspired, to draw from the brand’s dynamism and our bold spirit,” he said, adding: “It is a veritable playpen for all Hublot fans! One that truly showcases the spirit of Hublot. Hosting a pop-up store on such a scale is testament to Hublot’s strong presence in Singapore and the strong partnership that we share.”

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  • Can Singapore’s fashion brands take on the world?

    Can Singapore’s fashion brands take on the world?

    Labels such as Raoul, Ong Shunmugam and Collate The Label are certainly going to give it a try

    In the heart of an old industrial estate in Toa Payoh North, an immaculately dressed Velda Tan sits in a small office as office workers, aunties wearing tight clothes and construction workers carry on with their lives outside. It’s the home of Tan’s latest fashion venture, Collate The Label, a humble but comfortable space, but with a well-equipped studio for fashion shoots, space for a dozen employees, stacks of sketches, fabric samples and magazines lying on tables and shelves, and even a doggy bowl for furry friends.

    Collate The Label is one of many new fashion brands that have popped up in Singapore over the past few years, but it has been exceptional in its success so far. Although it’s only a few months old, the Singaporean mid-market womenswear brand, which launched in May at Singapore Fashion Week, will soon head to New York to participate in Coterie, a three-day fashion trade-show event, with the Textile and Fashion Federation Singapore (TAFF).

    “I think, for me, (the aim) is really to build Collate as an independent Singapore label,” said the founder and creative director of the brand. “We want to identify ourselves as a local brand, and one of our goals is to make Singaporeans proud of wearing local labels.”

    The local retail scene is certainly more vibrant than a decade ago. Local designers have been given more platforms, such as the annual Singapore Fashion Week and Digital Fashion Week, to showcase their works to an international audience. TAFF also works with government agencies such as SPRING Singapore and International Enterprise (IE) Singapore to organise events such as the Asian Fashion Exchange, a one-stop event for local designers, regional and international buyers and other industry professionals, as well as trips to about a dozen overseas fashion trade shows every year.

    “It’s a wonderful time to be a designer in Singapore at the moment,” said Carolyn Kan, founder and designer of jewelry line Carrie K. and co-organiser of retail outfit KEEPERS: Singapore Designer Collective, which opened its second pop-up store at Changi Airport Terminal One last month. “There is a lot of support by the Government, there is also a growing design community to tap into, and Singaporeans are slowly starting to seek out local brands.”

    Still, the challenges remain. In setting up their labels, designers such as Tan had to learn to overcome numerous obstacles, including the size of Singapore’s market.

    “Because Singapore’s market is quite small, we have to think about crossing borders and going overseas,” she said.

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  • Moncler to Open First South East Asia Flagship Store in Singapore

    Moncler to Open First South East Asia Flagship Store in Singapore

    Moncler is set to open its very first store in Southeast Asia at ION Orchard in Singapore, marking the brand’s retail debut in Southeast Asia.

    The boutique in the city state joins a network of 172 mono-brand stores, which Moncler operates globally.

    The new store in Singapore will strengthen and build upon the brand’s presence in the Asia Pacific region where it already has stores in China, Hong Kong, Macau, Japan and Taiwan.

    If the label’s Tokyo and Beijing stores designed by the Gilles & Boissier architectural firm, are anything to go by, shoppers in Singapore are in for a real treat.

    The full range of Moncler lines from the Main Collection as well as Grenoble will be offered in the ION Orchard branch.

    Through the retail concept, Moncler will present a highly edited collection with a fashion point of view, seeking and showcasing the brand’s unique place in history and inspiring desire through extraordinary environments, creative collaborations and unique marketing programmes.

  • Macy’s coming to China via Alibaba

    Macy’s coming to China via Alibaba

    One of America’s most iconic fashion retailers is coming to China.

    A new joint venture agreement between Macy’s Inc. and Hong Kong-based Fung Retailing Limited was signed on Tuesday in Hangzhou to form Macy’s China Limited.

    The new company will launch an exclusive online flagship store on Alibaba’s Tmall Global in late 2015., providing authentic, high-quality Macy’s merchandise to shoppers in China. It will be the first US department store to join Alibaba’s Tmall Global.

    Tmall Global, on the other hand, will be the first and only third-party e-commerce platform in China providing apparel, fashion accessories and home products directly from Macy’s to consumers across China.

    “Millions of Chinese tourists have come to know and love Macy’s when they travel to New York, San Francisco, Chicago and other American destinations,” said Terry J. Lundgren, chairman and chief executive officer of Macy’s Inc. “By making Macy’s accessible in China through Alibaba’s Tmall Global, we have an opportunity to deepen our relationship with international customers and to grow sales.”

    Fung Retailing’s chairman, Dr. Victor K. Fung, said that with its affiliates, including LF Logistics, the company will fully support the activities of the Macy’s-Fung Retailing joint venture.

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  • Seiko Japan opens ‘Premium Boutique’

    Seiko Japan opens ‘Premium Boutique’

    Seiko Japan has opened a world first “Seiko Premium Boutique” in Tokyo.

    The new store is the first shop to carry Seiko’s three luxury brands exclusively: Grand Seiko, Credor and Galante. It is located in the high-end Ginza shopping district.

    Wang Leehom, a famous Chinese-American singer and actor who has been Seiko’s brand ambassador in Asia since 2011, joined Shinji Hattori, president & CEO of Seiko Watch Corporation to open the store.

    “Showcasing our prestigious collections, this boutique will offer a true window to the Seiko world and visitors will experience the uniqueness of Seiko’s craftsmanship and Japanese hospitality,” Hattori said at a press conference to mark the opening.

    After a ribbon-cutting ceremony with Hattori at the boutique, Wang Leehom became the store’s first customer, perusing the topline products on display, including Credor Spring Drive Minute Repeater which sells at 33,000,000 yen (US$265,000).

    “It is my great honor to have a chance to attend this festive occasion in the center of Tokyo. I was deeply impressed with Seiko’s masterpieces such as Credor Minute Repeater. They are true culmination of legendary Japanese craftsmanship and cutting-edge technologies,” he said.

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  • After 165 years, Lane Crawford looks forwards

    After 165 years, Lane Crawford looks forwards

    To mark its 165th birthday, luxury department store Lane Crawford invited its community of leading and emerging brands and creative talents to share their vision of the future.

    Their perspectives are transformed into a series of exclusive designs, capsule collections, artistic installations and uniquely curated product showcases that engage customers to imagine what the future may bring.

    With more than 600,000 square feet of retail space, Lane Crawford has 11 points of sale across Hong Kong, Beijing, Shanghai and Chengdu. With an online store, purpose built for China while also shipping globally, Lane Crawford is China’s first luxury omni-channel fashion retailer. Featuring the largest designer portfolio across Womenswear, Menswear, Cosmetics, Home and Lifestyle, and Fine Jewellery in the region, Lane Crawford showcases more than 1000 international brands.

    Innovative Beijing-based architecture and design firm People’s Architecture Office presents its vision of the future of modern living through giant twisting metal tubular structures that customers can climb inside to explore a whole other landscape. Hong Kong-based architectural design studio Sky Yutaka has created a mesmerising kinetic installation where the future is a haunting rendition of machine-made beauty, featuring robotic rain flowers that gently furl and unfurl their petals in response to a flowing stream of water. Musical wunderkinds Mimi Xu and Rosey Chan continue to inspire the future of sound with their distinctive take on classical electronica music accompanied by a stunning multisensory visual narrative. Other creative luminaries such as Li Lihong, Angel Chen and Alan Chan have also contributed their visions of what the world will look like in 165 years.

    Limited Editions

    The store has also collaborated with an array of brands to offer a selection of exclusive editions as part of the 165 celebrations. Womenswear designer and Chairman of the Council of Fashion Designers of America, Diane Von Furstenberg has redesigned her signature wrap dress with a Chinese twist. There are also capsule collections from T by Alexander Wang, MSGM, Ms Min and Chictopia Fine Jewellery exclusives come from Nathalie Melville and Tasaki, and there is an exclusive watch design from Mad.

    Menswear designers including Haider Ackermann, Neil Barrett, Paul Smith, Rick Owens, Uma Wang and Ziggy Chen have been invited to develop the Silk Capsule collection, incorporating the traditional Chinese fabric in refreshing styles.

    In addition, there are limited editions from a number of cosmetic and lifestyle brands. Shanghai Tang presents an exclusive lacquer box set with its signature women’s fragrance collection, including a personalised engraving service. Valmont offers the Elixir Tribute to Lalique in a sublime red lacquer box topped with Lalique crystal.

    On the local front, Tom Dixon brings another global exclusive to the party with the launch of his new coffee range, “Brew”, and the maverick British product designer also curates the “Living Room of the Future” installation, which offers a vision of home entertainment in years to come. Another iconic British brand, Fortnum & Mason has created the exclusive Lane Crawford 165 tea blend special edition. Other home products include a limited-edition “165” scented candle from L’Objet; a specially made game table by Chinese architect and designer Naihan Li; a digital printed rug from Dutch brand Moooi; neon light décor with Chinese characters meaning ‘prosperity’, ‘fortune’ and ‘home’ from Italy’s Seletti; and an Asia-exclusive launch of a new lamp in taupe and brass from Anglepoise.

    Lane Crawford will hold its 165th Anniversary Celebrations Party at the IFC Mall store on September 9. The festivities continue with a weekend of shopping privileges and anniversary-themed prizes across all Lane Crawford stores in Hong Kong from September 11 to 13.

    Who Is Nick Wooster

    Having worked with highly respected fashion brands and renowned retailers around the world, street style guru Nick Wooster demonstrates his flair for fashion and eye for detail by co-curating a dedicated space for modern men’s wardrobe essentials at Lane Crawford IFC Mall, where Wooster + Lardini, his eclectic collaboration with Italian brand Lardini, is also showcased.

    The dapper Wooster will also make a personal appearance at Lane Crawford ifc mall for an exclusive styling session and cocktail party on August 13.

  • Hong Kong police seize 30,000 fake bags

    Hong Kong police seize 30,000 fake bags

    Hong Kong police and customs officers have made the biggest seizure of counterfeit bags and accessories in a decade.

    The authorities say they netted 30,000 bags in a two day operation on July 28 and 29, details of which have only just been revealed.

    Customs and police say they successfully smashed a syndicate suspected of selling counterfeit goods by operating two upstairs showrooms and a storehouse in Tsim Sha Tsui and Tsuen Wan.

    The operation involved a record seizure in terms of quantity among similar cases in the past decade. The more than 30,000 suspected counterfeit products have an estimated street value of about $3 million, including leather goods, watches, apparel products, footwear, sunglasses and perfume, were seized.

    The syndicate was suspected of establishing a sales network with a membership scheme.

    A man thought to be the mastermind of the syndicate and two women, aged between 32 and 37, were arrested and released on bail pending further investigation.

    The Divisional Commander (Intellectual Property Transnational Investigation) of the Intellectual Property Investigation Bureau of Customs, Cheuk Tak-wai, and the Police assistant divisional commander (operations) of Tsim Sha Tsui Division, Ho Siu-tung, said at a press conference that Customs and the Police would continue to combat counterfeit activities with stringent joint enforcement actions. Customs also appealed to members of the public to shop at retail stores with a good reputation or at official brand stores.

    Under the Trade Descriptions Ordinance, any person who sells or possesses for sale any goods with any forged trademark commits an offence. Upon conviction, offenders are liable to a maximum fine of $500,000 and imprisonment of five years.

  • Prada Japan flourishes

    Prada Japan flourishes

    Prada Japan has posted a strong sales lift in the first half thanks to a burgeoning number of inbound tourists.

    Sales in the Japanese market grew by 12 per cent year on year current exchange rates and by five per cent on constant exchange rates. Tellingly, growth was stronger in the second quarter than in the first.

    In its half year results issued Friday, Prada reported net revenue for the six months to July 31 of euro 1.823 billion, a four per cent increase over the corresponding period in 2014. Wholesale sales fell 14 per cent, reflecting Prada’s strategy of rationalising its network of retail partners in favour of selling from its own stores.

    While Japan was a standout market, sales in Asia Pacific fell, offset by a positive rate exchange effect.

    “Hong Kong and Macau remain the main drivers affecting the performance in this geographical area,” Prada said.

    At current exchange rates, sales increased 15 per cent in both the Americas and in the Middle East.

    The European market has continued to grow with revenues up at both current exchange rates up 12 per cent and constant exchange rates up 11 per cent, thanks to a steady flow of tourists together with a recovery in consumption by domestic customers.

    By brand, Prada recorded five per cent growth at current exchange rates which is entirely attributable to the exchange rate effect, mainly because of the adverse economic situation in the Asian market.

    Miu Miu continues to grow with revenues up at both current exchange rates up 19 per cent and constant exchange rates up six per cent, showing an acceleration in the second quarter of the year. Church’s achieved sales growth of 19 per cent, with the volumes trend also remaining largely positive. Car Shoe has performed broadly in line with prior year.

    Prada Group CEO Patrizio Bertelli said sales in the first half of 2015 reflect an economic and exchange rate landscape that remains “rather volatile with the continuing weakness of important markets like Hong Kong and Macau and the uncertainty that is looming on other Asian markets”.

    “Our distribution structure, which has achieved an appropriate global presence, together with our awareness of the specific needs of the various markets, has enabled us to compensate for the drop in sales in Asia Pacific thanks to growth on markets which are currently more dynamic like Europe and Japan. We will continue to prioritise measures intended to sustain long-term growth focusing on our manufacturing tradition and innovation, as again confirmed recently by the success of our latest collections.”

  • Uniqlo to open seventh Aussie store

    Uniqlo to open seventh Aussie store

    Japanese retailer, Uniqlo, will open its third Victorian store in late 2015 in the redeveloped Eastland centre, in Melbourne’s east.

    Uniqlo Eastland will be a premium large scale outlet with a sales floor spanning nearly 1045sqm, joining more than 350 brands on completion of the centre’s $665 million redevelopment.

    The store will look to create more than 70 jobs for the Ringwood precinct, with positions on offer for both managers and store staff in the surrounding areas.

    “We’re excited to be opening our third store in Melbourne. We see Melbourne, and Australia more broadly, as a key market for us in the Asia and Oceania region,” said Shoichi Miyasaka, CEO of Uniqlo Australia.

    “We’ve received a very positive response from Melbournians since we opened our first store last year, and we’re thrilled to be in a position to continue to grow our presence in this market.

    “Eastland’s transformation will see it become the epicentre for retail and community engagement in the east, with its position amongst some of the fastest growing suburbs pivotal for Uniqlo to service the outer Eastern Melbourne population,” said Miyasaka.

    Centre manager of the new Eastland, Steve Edgerton, welcomed the Japanese retailer to the Eastern Melbourne community.

    “The addition of international fashion brands such as Uniqlo demonstrates the calibre of retailers Eastland’s development is attracting,” said Edgerton.

    “Once completed, Eastland’s $665m transformation will offer more than 350 speciality stores, with a carefully curated selection of international and Australian high street and boutique brands.”

    There are six Uniqlo stores in Australia, four in Sydney and two in Melbourne.

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