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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.

  • Hong Kong ‘centre of whipsaw’ says Crocodile Garments

    Hong Kong ‘centre of whipsaw’ says Crocodile Garments

    Crocodile Garments’ profit has plunged as the apparel retailer was caught in “the centre of whipsaw’’ in Hong Kong and a depressed Mainland China market.

    Revenue in the year to July 31 fell from HK$502 million in 2014 to $405 million this year; gross profit was $252 million, down from $303 million.

    Retail sales revenue slid by 22 per cent to $354 million, with a loss of $44 million.

    “Against the backdrop of poor market sentiment, deep sales discounts offered by competitors to grasp the already-underwhelming retail market and protracted sales network restructuring taken by the group, the Garment and Related Accessories Business segment plodded on through a nadir in the year ended July 31,” the company said in its stock exchange filing.

    With the property Investment and Letting Business figures added in, the total income attributable to the owners of the company was $49 million – less than half 2014’s figure of $106 million.

    Crocodile Garments has 87 shops in the Mainland (35 fewer than a year earlier), including 21 self-operated shops (down 27) and 66 franchisees (down four).

    “The Garment and Related Accessories Business segment was operating under an extremely intricate environment in the mainland. The economy was facing an accelerating downside risk as evidenced by the deteriorating data released. To balance the slump of growth in exports and productions, the mainland government planned to boost domestic spending through the wealth effect created by a prosperous stock market; however, it was derailed by the abrupt plunge. The consequential murky economic ambience battered the retail market sentiment and the consumption power of general public further, which materially curbed the sales and gross profit margins of the segment,” the company explained.

    “As a cushion against the above tailspin, the group had rationalised its sales channel to ratchet up the brand presence and, at the same time, constrain rental expenses. Stringent inventory discipline had been enforced to keep the stock on hand relevant and fresh.”

    Hong Kong, the group’s home base, is “at the centre of whipsaw” the company said.

    “On one side, Hong Kong economy is vulnerable to the stumbling investment and consumer spending whereas on the other side, at the heels of a strong US dollar, the appreciation of the Hong Kong dollar under the pegging mechanism could kindle savage corrections in asset markets. Needless to mention the persistent social disputes, the business environment for the group in Hong Kong is formidable. To mitigate the above negative impact, the group will hasten the restructuring of its shop portfolio to enhance the operating efficiency.”

    Crocodile Garments said the outlook of the global economy is bleak in the wake of loss in momentum of the mainland, the world’s major growth engine for the past decade.

    “Giving the beleaguered retail sector, the group has reined back sales channel inventory [in the mainland] and fortified supply chain management. Moreover, the group will reorganise its sales channels and merchandise mix.”

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  • Aeropostale unveils more expansion in Asia and EMEA region

    Aeropostale unveils more expansion in Asia and EMEA region

    Aeropostale, Inc., an American mall-based specialty retailer of casual apparel for young women and men, has announced additional expansion plans in Asia and the EMEA region. Through two new licensing agreements, Aeropostale will launch in Thailand and Egypt over the next five years, it said in a press release.

    Julian R. Geiger, CEO of Aeropostale, said, “Aeropostale’s international expansion began in Asia and the Middle East and it is with great pleasure that we announce further expansion across these key regions. Thailand and Egypt will be important markets as we continue to expand globally across Asia, the Middle East and Africa. We are confident that our partnerships with Robinson Department Store and Q and A Retail Company will ensure that the Aeropostale brand will continue to thrive and prosper internationally.”

    The company has signed a licensing agreement with Robinson Department Store Public Company Limited to open approximately 40 standalone and shop-in-shop locations over the next five years in Thailand. The first Aeropostale location in Thailand will open in the Robinson Department Store in Sriracha.

    Paresh Chauhan, Executive Vice President of International Brands at Robinson Department Store, said, “Robinson Department Store is very excited to bring Aeropostale to the Thailand market place, with the brand’s strong combination of trend-right merchandise at compelling prices. We hope to emulate Aeropostale’s success and be the leaders in teen fashion in our market.”

    Aeropostale has also signed a licensing agreement with Q and A Retail Company to open approximately 10 standalone stores over the next five years in Egypt.

    “We are eager to partner with Aeropostale to bring this iconic brand to North Africa for the first time. We are confident that the strength of the Aeropostale brand will resonate with the consumers of Egypt and we look forward to continuing our expansion throughout the region over the next several years,” said Ayman Seoudy, Director of Q&A Retail Company.

    Aeropostale’s expansion plans in Thailand and Egypt are planned to begin in early 2016, the release said. (SH)

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  • L’Oreal sales soar 13.2% to $20.4bn in first 9 months

    L’Oreal sales soar 13.2% to $20.4bn in first 9 months

    L’Oréal has released its nine-months sales results pointing to strengthened growth in the North American Consumer Products Division; maintained growth in Western Europe; a temporary third quarter slowdown for L’Oréal Luxe in Asia; strong e-commerce sales (projected at +€1bn in 2015); a slowdown in travel retail; and ‘significant’ sales and profit growth.

    Commenting on the figures – including the top line €18.76bn ($20.4bn) in total 9-month sales – Jean-Paul Agon, Chairman and CEO of L’Oréal, said: “At the end of September, the Group’s reported growth is strong, at +13.2%, still supported by a very positive currency effect.

    “In the third quarter, the Consumer Products Division is confirming the gradual strengthening of its growth, notably through strong momentum in make-up with its three brands: Maybelline, L’Oréal Paris and NYX. The Active Cosmetics Division continues to forge ahead and the Professional Products Division keeps outperforming a lacklustre market.

    “L’Oréal Luxe experienced a temporary slowdown as a result of market turbulence over the summer in Asia, in Hong Kong and in Travel Retail. By geographic zone, North America’s growth is gradually increasing and Western Europe confirms its positive trend. In the third quarter, the New Markets have been hampered by the difficult Brazilian market, market turbulence in Asia and the taking over of agents’ contracts in the Middle East. In China, sales growth is in line with earlier quarters.”

    Loreal 9m sales 2015

    Agon, added that ‘despite a global context that is still volatile’ the company remains confident for the year as a whole. He said: “The beauty market remains dynamic. In each Division, our brands are pushing forward with successes such as Maybelline and NYX in the Consumer Products Division, Yves Saint Laurent, Kiehl’s and Urban Decay at L’Oréal Luxe, Redken in the Professional Products Division and La Roche-Posay at Active Cosmetics.

    “Finally, the acceleration of our digital transformation is making us stronger, in particular with the rapid increase (+40%) of our e-commerce sales which should significantly exceed one billion euros this year. We are confirming our ambition to outperform once again the beauty market in 2015 and to achieve significant growth in both sales and profits.”

    Looking at the first nine-months sales to September 30, the company said that on a like-for-like basis and based on a comparable structure and identical exchange rates, sales growth of the L’Oréal group would have been +3.7%. It adds that the net impact of changes in scope of consolidation was +1.2%, while growth at constant exchange rates registered +4.9%.

    The company said that currency fluctuations actually had a positive impact of +8.3% and if September-end exchange rates (€1 at $1.12) are extrapolated up to December 31, then the impact of currency fluctuations would be +6.7% for the whole of 2015.

    L'Oreal 2014 2015 sales

    Turning to the product divisions, L’Oréal said that at the end of September, the Professional Products Division posted growth of +3.2% like-for-like and +13.4% based on reported figures.

    The company said: “Hair care is the largest contributor to growth, powerfully driven by the latest innovations, such as Thérapiste by Kérastase, Pro Fiber by L’Oréal Professionnel, and Frizz Dismiss by Redken. The dynamic trend in hair colour is continuing across all brands.

    “Professional skincare with Carita is expanding rapidly in Western Europe. All the geographic Zones are growing. Eastern Europe is accelerating, while Brazil is slowing the growth rate in Latin America.”

    L’Oréal Consumer Division

    As for the Consumer Products division, the beauty giant recorded a rise of +2.3% like-for-like and +11.2% based on reported figures. The company commented that gradual improvement growth trend continues and thanks to the new momentum of Maybelline, the strong expansion of NYX, and the success of L’Oréal Paris, this division is strengthening its leadership in the make-up market.

    L’Oréal also notes that hair care is winning market share, thanks notably to L’Oréal Paris. For Garnier, the Ultimate Blends’ successful launch process has continued in many European countries. At the same time, the division is outperforming the markets in Eastern Europe, Asia, Pacific, Africa and the Middle East, while the ‘strong make-up dynamic’ is said to be accelerating the division’s growth in the US, while e-commerce is growing fast across all Zones.

    Meanwhile, L’Oréal Luxe posted growth of +5.8% like-for-like and +17.9% based on reported figures. Within the more detailed picture, Yves Saint Laurent grew strongly, driven by make-up, men’s fragrances with L’Homme and women’s fragrances with Black Opium. L’Oréal added that Giorgio Armani remained dynamic across all geographic Zones.

    The company added: “Urban Decay is accelerating worldwide with the high-profile launch of the Naked Smoky palette and is building a global beauty offering with initiatives in foundations and lipstick. Kiehl’s is launching Daily Reviving Oil Concentrate and continuing its double-digit growth.

    “Growth at Lancôme is being driven by market share gains in Europe, the success of the fragrances La vie est belle, Miracle and the newly released La Nuit Trésor; Grandiôse and Hypnôse Volume à Porter mascaras; and the acceleration of its Génifique facial skincare.”

    L’Oréal adds that despite a market that slowed in the third quarter in Asia and in Travel Retail, L’Oréal Luxe has strengthened its worldwide position with significant gains in Western Europe, in Asia, Pacific, in the Middle East and in Latin America.

    Active Cosmetics division

    The company’s Active Cosmetics division also improved its performance further with strong growth of +7.3% like-for-like and +9.7% based on reported figures. L’Oréal reported that Vichy is innovating with Neovadiol Substitutive Complex Serum, a formula that acts on skin changes linked to menopause.

    At the same time, Roche-Posay is renewing its expert franchise for oily skin with the launch of Effaclar K(+). The company adds that the brand is continuing to post double-digit growth in all geographic Zones, with ‘outstanding performances’ in France, Brazil and China. The successful international roll-out of SkinCeuticals is continuing.

    The beauty company also reported that all geographic zones continue to contribute to growth, with sales accelerating in the third quarter and new markets maintaining growth at more than 10%.

    Western Europe recorded growth of +2.1% like-for-like and +4.5% based on reported figures, with L’Oréal Luxe is continuing to act as a growth driver. Garnier is also said to be winning market share in hair care and skincare, while L’Oréal is continuing to outperform the market in Germany and the UK thanks to L’Oréal Luxe.

    In North America L’Oréal posted growth of +3.0% like-for-like and +25.4% based on reported figures. Both the Active Cosmetics and Professional Products Divisions drove growth and notably thanks to the La Roche-Posay and Redken brands.

    Kiehl’s and Urban Decay also contributed to the development of L’Oréal Luxe, while the Consumer Products Division also grew with good make-up contributions from L’Oréal Paris, Maybelline and above all NYX, which is described as ‘growing at a remarkable pace’. Meanwhile, the Body Shop recorded growth of +2.0% like-for-like and +12.6% based on reported figures.

    Commenting on other markets, the company reported a mixed picture, beginning with the Asia and Pacific territories: “At the end of September, L’Oréal posted growth of +4.4% like-for-like and +21.9% based on reported figures. Kiehl’s, Yves Saint Laurent and Giorgio Armani are contributing to the dynamism of L’Oréal Luxe, in a context of slower third-quarter growth in Hong Kong and Travel Retail Asia.

    “The Consumer Products Division is performing well in India, Australia and Thailand. In China, growth at L’Oréal Paris is accelerating, while Magic is undergoing a transitional period. The Active Cosmetics Division is growing strongly, thanks to the success of La Roche-Posay.”

    Tough Brazilian market

    By contrast, in Latin America sales grew by +5.5% like-for-like and by +4.7% based on reported figures. Excluding Brazil, sales achieved double-digit growth, thanks to L’Oréal Paris, Maybelline and Lancôme, although the company says that the Brazilian market is being held back by a very difficult economic environment and by the reform of the IPI (Tax on Industrialised Products).

    Looking at Eastern Europe, L’Oréal said that the zone posted figures of +9.5% like-for-like and -4.1% based on reported figures. The Consumer Products and Professional Products Divisions recorded double-digit growth, boosted by Russia, Turkey and Ukraine.

    As for Africa and the Middle East, sales growth amounted to +9.8% like-for-like and +28.1% based on reported figures. L’Oréal said: “The reorganisation of part of our distribution network in the Gulf States caused a temporary growth slowdown in the third quarter. The Group is strengthening its positions at a time when most markets in the Zone are seeing their growth rates decelerate.

    “Egypt and Saudi Arabia are still posting strong performances. L’Oréal Paris and Garnier are gaining market share. Yves Saint Laurent, Giorgio Armani, Kérastase and La Roche-Posay are also recording solid growth rates.”

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  • Primark growth eroded by currency volatility

    Primark growth eroded by currency volatility

    Discount apparel retailer Primark has reported sales growth of 13 per cent to £5.3 billion at constant exchange rates for the year to September 12, demonstrating its continuing dominance in the value clothing market.

    However it was unable to escape the effects of currency volatility, reducing its total sales growth at actual exchange rates to eight per cent.

    While these results are in line with the expectations outlined in September this year, they are compounded by Primark’s two per cent increase in operating profit to £673 million at actual exchange rates – modest compared to growth of five per cent at constant exchange rates, observes Rebecca Marks, consultant at Conlumino.

    Sales growth was driven predominantly by a nine per cent increase in selling space – an additional 93,000 sqm that takes the total footprint to 1.04 million sqm. Considerable expansion in Germany, Belgium and the Netherlands resulted in marginal like for like growth at constant exchange rates of one per cent, as international customers chose to shop more locally, causing sales in existing stores to decline. Primark opened its first US store in Downtown Crossing in Boston in September 2015, with 7200 sqm of selling space.

    Further international expansion planned in the 2015/16 trading year will see a greater increase of 140,000 sqm across the year in northeastern US, Spain, Italy and France – its most successful market entry to date.

    “However, as the retailer continues to invest in international diversification, it endures the risk of substantial movement in currency markets, subjecting the retailer to negative transactional and translational currency exposures – a major challenge that Primark faced this financial year,” explains Marks

    “However, Primark believes a high proportion of this potential impact has been mitigated in-house by taking a shrewd approach to buying new season merchandise for next year.”

    Marks says Primark saw a return to a more normal level of markdown this year, following exceptional trading in 2013/14, resulting in a lower operating profit margin of 12.6 per cent, down from 13.4 per cent in its last financial year.

    “Inconsistent trading over the year resulted in moderated demand; while an unseasonably warm Autumn 2014 impacted sales in the early part of the trading year, Spring 2015 trading was also held back by cool weather. However, a strong Christmas in 2014 limited the impact of these challenging trading periods on its overall performance for the financial year,” observed Marks.

    “Although Primark actively resists plans to go down the online route that many of its fashion peers have chosen, the retailer shows no signs of slowing down. As parent ABF looks to maintain investment in Primark’s expansion opportunities, Primark will continue to see its budget-priced clothing ardently welcomed in all new territories, with its increased scale of distribution infrastructure helping to meet demand,” Marks concluded.

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  • Tse Sui Luen battles the downturn

    Tse Sui Luen battles the downturn

    A shift in focus away from the high end has partly buffered jeweller Tse Sui Luen from the Hong Kong luxury downturn.

    The group has released trading figures for the first half year revealing a decrease in turnover of just 3.6 per cent to HK$1.753 billion. While the decline was attributable to the slump in Hong Kong luxury retailing and the reduced spending by Mainland tourists, Tse Sui Luen defied the downward sales trend thanks to strong growth in its Mainland China franchise business.

    Nevertheless, the profit attributable to owners of the company declined by 40.2 per cent from HK$25.8 million to HK$15.5 million.

    “Due to the growth in our high-end luxury segment in China slowing down, we shifted our focus to the development of the self-consumption market and high craftsmanship gem-setting jewellery in the premium mass market,” explains chairman and CEO Annie Yau Tse.

    “Thanks to the right strategy and an expanded franchise network, we saw the same store sales growth from Mainland China was 2.3 per cent while the whole business grew by five per cent in the region.”

    Tse says the company’s sales in Malaysia grew by 14 per cent in the first half year prompting plans to open one or two more retail stores in the market during the forthcoming year.

    In Hong Kong and Macau, says Tse, the number of tourists from Mainland China dropped in the first half and their spending on luxury products and higher-priced gifts decreased. Instead of buying luxury goods, these customers turned towards more popular commodities in the mass markets.

    “As a result, the sales in Hong Kong and Macau for the period under review decreased by 19 per cent and same store sales growth was minus 20 per cent.”

    Despite the challenging market, the group opened two new stores in Hong Kong – one in Olympian City and the other in Plaza Hollywood, Diamond Hill in the first half. Another two new stores located in Tuen Mun and Wong Tai Sin were opened in October – aimed at local consumers who are end users in the self-consumption product segment.

    Tse Sui Luen says easing retail rents have resulted in a three per cent drop in the group’s rent spend for Hong Kong and Macau shops in the First Half.

    In Mainland China the group plans to increase the pace of store openings in order to better serve its customers. As of August 31, it had 169 self-operated stores and 56 franchised stores. By October 29, that had grown to 175 and 65 respectively, spread across 80 cities. The group plans more than 100 stores in Mainland China during the next two years.

    Tse believes the current market fluctuations in China and Hong Kong-Macau are “cyclical and transitory”.

    “In order to facilitate a more rapid growth of the group’s franchise sales network in Mainland China, we will continue to explore more opportunities to work with local business partners. We also expect our e-business channel to maintain its high growth rate in the second half of this year. We are cautious but confident that based on our solid foundation and the business know-how our experienced management team possessed, we will be able to mitigate the challenges of this cyclical downturn and create value for our shareholders.”

  • Smart mirror checks your bust size in-store

    Smart mirror checks your bust size in-store

    The Hong Kong branch of Rigby and Peller is using a smart fitting room mirror to help customers work out their ideal bra size.

    For many women, especially young ones, being fitted for a bra is an embarrassing experience that they seek to avoid, often resolving to buying ill-fitted lingerie instead.

    Now, lingerie store Rigby and Peller is offering a high-tech alternative via a smart mirror, which scans the customer in the fitting room and calculates their ideal bra size.

    Rigby and Peller smart fitting room

    To begin, customers stand front of the changing room mirror and hold their arms out. Then, they rotate slowly, turning 360 degrees, while the inbuilt camera takes 140 body measurements.

    The technology then calculates the customer’s ideal bra size, giving them a unique shape ID.

     

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  • Jeweller Malabar to expand in Asia, Gulf

    Jeweller Malabar to expand in Asia, Gulf

    Indian retailer Malabar Gold and Diamonds says it will open 22 new stores in India, the Gulf and ‘the Far East’ over the next six months.

    New showrooms will be opened in Hong Kong and Indonesia as part of the plan, but there are no details as yet on timing or exact location.

    To help stock the expanded store network – 155 after the openings – a new gold processing unit will be opened in Dubai and a diamond processing facility in Mumbai.

    “The new showrooms will be opened in major cities across India, the Gulf region and the Far East in next six months,” Malabar group chairman M P Ahammed said in a statement.

    The rollout is a further step towards Malabar’s goal of reaching 300 stores by 2020.

    “In response to the government’s ‘Make in India’ initiative, we are setting up new processing units at Kinfra industrial park in Kerala and at other industrial parks in Andhra Pradesh, Gujarat and West Bengal,” Ahammed said.

    “We are also building an advanced gold manufacturing unit on a five-acre land in Dubai with the support of the UAE government.

    “As more Indians are buying diamond jewellery due to changing lifestyle, higher disposable incomes and for being trendy, the diamond processing unit will be in Mumbai, which is a major centre for diamonds business,” Ahammad said.

    The group’s retail network is already spread across nine countries, including Bahrain, Kuwait, Oman, Malaysia and Singapore.

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  • Le Saunda Hong Kong sales plunge

    Le Saunda Hong Kong sales plunge

    Le Saunda Hong Kong and Macau sales plummeted 26.6 per cent in the first half of this year as tourist spending declined.

    Le Saunda manufactures and sells shoes, handbags and fashion accessories and sells them in Hong Kong, Macau and Mainland China under the brands of Le Saunda, Le Saunda Men, Linea Rosa and CNE. The company in also involved in property, trade-mark and management services. It has 833 stores, 20 fewer than at the same time last year.

    In its half year results, Le Saunda said sentiment in Hong Kong’s retail market is deteriorating, as the number of tourist arrivals in the city continued to fall and consumer confidence weakened.

    “Meanwhile, unyielding rental for commercial premises further aggravated the burden of retailers.”

    Le Saunda closed five stores in Hong Kong and Macau during the period, reducing the total store network in the two cities to 16.

    It was a better picture in Mainland China, however, where the company achieved retail sales growth of 3.8 per cent.

    Total group revenue for the six months increased by 0.4 per cent to RMB755.8 million and consolidated gross profit decreased by 0.4 per cent to RMB501.8 million. The overall gross profit margin decreased by 0.5 percentage point to 66.4 per cent.

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  • Aeropostale chooses India over China for growth

    Aeropostale chooses India over China for growth

    Aeropostale, an American mall-based fashion retailer for young men and women, is eyeing revenues of around Rs 500 crore from the Indian market in the next four years. The teen retailer launched its first store in the Capital in partnership with textile major Arvind and said India would be among its top three markets within that time period.

    Aeropostale has been grappling with diminishing sales in its largest market, the US, where it operates around 800 stores. It has been facing stiff completion from fast-fashion stores such as, H&M and Forever 21. Since then, it has taken the licensing route to expand into other markets. Interestingly , the brand has chosen India over China.

    “India will become one of our most important markets.China is overcrowded with foreign brands at the moment.Latin America, which brings us revenues of around $100 million, is our second-largest market after the US,” Kenneth Ohashi, senior VP, international and global licensing at Aeropostale, told TOI.

  • I.T. Limited sales rise despite Hong Kong

    I.T. Limited sales rise despite Hong Kong

    Apparel business I.T. Limited has boosted sales by 5.1 per cent to HK$3.393 billion in the first half year despite a slowdown in Hong Kong.

    But the company recorded a net loss of $31 million due to a non-recurring foreign exchange losspreviously reported totaling $79.6 million. Without that, profit would have increased by 32.8 per cent to $48.6 million.

    Gross profit increased by 1.4 per cent to HK$2.026 billion at a gross profit margin of 59.7 per cent, slightly down on the 61.9 per cent of a year ago.

    In Hong Kong, retail sales slipped 3.6 per cent to $1.571 billion, but I.T. Limited noted that was a lesser fall than the broader apparel market in the city. Same store sales fell by 0.9 per cent.

    But in China, where it has more than 580 stores, the company increased sales by 19.1 per cent to $1.336 billion.

    Total Macau sales rose 6.2 per cent to $101 million despite lower than expected tourist traffic.

    And Japan continued to outperform with total retail sales of HK$222.4 million, representing 6.9 per cent increase in Hong Kong dollars, or 27.5 per cent in local currency.

    The company said in the Hong Kong market, a slow economic recovery alongside diminished inbound tourist traffic growth (from Mainland China in particular), which was attributed predominantly to the strength of the HK dollar and the easing of immigration in multiple tourist destinations such as Europe, Japan and Korea, has placed “unprecedented challenges on the consumer retail market”.

    “Similarly, Mainland China, where domestic headwinds continued to cause considerable impact on consumer appetite and maintained lingering concerns about the economic prospect of the country, demonstrated by the depression of external import demand, has created a challenging economic environment for retailers in the region,” I.T. Limited said in its filing.

    “At this juncture, consumer sentiment across these regions remained weak, and retail sales growth was largely boosted by sales promotions.”

    The company said having a multifaceted business model with “inherent flexibility” will allow it to remain resilient in the face of the market challenges.

    “We also believe that innovation and differentiation are among the most relevant tools to support our position as a fashion leader across our operating regions and allow us to adapt to the rapidly changing fashion markets. To that end, the group continues to focus and invest in further strengthening its fashion platform through a combination of international brands assortment upgrades and new fashion concepts establishment within the in-house brands segment.

    “Today, we have a balanced portfolio showcasing a collection of the latest distinctive international brands alongside multiple innovative in-house brands, all of which have their own unique identities that complement each other well.”

    In the first half year, I.T. Limited’s house brands accounted for 56.8 per cent of its revenue.

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  • Belstaff marks Greater China debut

    Belstaff marks Greater China debut

    British luxury lifestyle brand 
Belstaff has opened its first store in Greater China, inside the Studio City resort in Macau.

    The opening of the Belstaff Macau boutique, on The Boulevard managed by Taubman Asia, follows the launch of Belstaff Korea last year with three stores. The brand will also open stores in Japan from March next year, as it continues to broaden its Asian footprint.

    CEO Gavin Haig said the Macau opening is an extension of Belstaff’s commitment to expand globally.

    “We are pleased to announce this opening in Macau showcasing the continuation of long-term investment for Belstaff in both China and wider Asia over the coming years. Studio City is destined to become a retail mecca within Macau and we are pleased to be a part of this luxury shopping experience.

    “Macau has a great reputation for luxury fashion and it makes sense to start our Chinese offering here, within one of the world’s most dynamic and exciting retail environments.”

    Belstaff has established a strategic partnership with Rainbow Group Macau for the new franchise.

    The store launches with the Autumn/Winter men’s and women’s collections “showcasing British heritage and design innovations, combined with a modern sensibility”. Belstaff’s hand-waxed cotton and leather pieces will be available there, in addition to seasonal ready-to-wear and accessories.

    The Studio City store references elements of the Belstaff House flagship on London’s New Bond St, designed by eminent interior designer and architect William Sofield. The 196 sqm store displays signature Belstaff characteristics including wooden floors, leather seating, custom cork walls and bespoke crafted cabinets to create an ambient and inviting atmosphere.

    Large-scale light boxes display current campaign imagery. The moto-heritage of the brand is referenced with a vintage Royal Enfield bike displayed at the front of the store.

    Archive imagery around the store depicts the brand’s 91-year history, including images of current Global Ambassador David Beckham.

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  • Siam Center fashion pop up Asian labels

    Siam Center fashion pop up Asian labels

    ‘A-very-wear’ – a new exclusive multi-label Siam Center fashion pop-up store – aims to showcase Asian designers in Thailand.

    Located in the Ideapolis A-very-wear, bears the motto of “A piece that is very you to wear” on the Siam Center’s first floor.

    Parisa Chatnilbandhu, group senior VP – retail business development of Siam Piwat says fashion plays a major role in youngsters’ lifestyle, especially in Asia.

    “As we can see, the Fashion Week in each season in Korea, Japan and Singapore attracts hipsters from around the world, including Thai celebrities who fly to these countries just to bring the fashion items back.”

    A-very-wear 5

    Responding to the trend, Siam Center has created A-very-wear as a first exclusive multi-label fashion pop-up store of Asian designers, to “bring the ultimate Asian fashion experience to Thailand”.

    Siam Center has carefully selected a wide variety of well-designed products and introduces Absolute Siam items, which are exclusively available at Siam Center, to help the fashionistas make the style statement of their own under the motto of “ A piece that is very you to wear”, Parisa said.

    A-very-wear 4

    A-very-wear carries apparel, accessories, including eyeglasses, watches and more, from 15 renowned Asian fashion brands from six countries: Korea, Japan, Singapore, Hong Kong, Indonesia and Taiwan.

    “Each designer is very popular on social media, with many followers on Facebook and Instagram. During the first six months, the hipsters can update the trend from four countries, namely Korea, Japan, Singapore and Taiwan, while the other two, Hong Kong and Indonesia, will join in the next six months.”

    For its opening, A-very-wear introduces six well-known Korean brands:

    • Fleamadonna, launched in 2007, has bold style and unique characteristic. It was well received by fashionistas and celebrity fans including Pink, Paris Hilton, Miranda Kerr and Girl’s Generation girl band.

    Fleamadonna- A-very-wearFleamadonna3-A-very-wear

    • Low Classic by Lee Myoung Shin presents the simple and classic ready-to-wear perfect for any occasion.

    Low Classic-A-very-wearLow Classic 2-A-very-wear

    • Drink Beer Save Water is originated from the fun idea of the designer Jim Park, who thought “Why don’t we drink beer to save the water?” From this extreme idea, he presents the unisex collection under the same name as his brand, which has been growing both male and female fan base. The clothes reflect their true personality, having fun dressing.

    Drink Beer Save Water- A-Very-wear

    • Rocket x Lunch is a woman’s fashion brand designed by the talented Jin Won Woo. The brand is popular among hipsters for its minimalist style that can be worn on any occasion. It also showcased its creation in “Who’s Next in Paris 2015 Spring Summer” in France.

    Rocket x Lunch - A-very-wearjpgRocket x Lunch A-very-wear

    • A.Bell Korean accessory brand was established in 2010. It includes bag decorations, necklaces and bangles to create a glamorous, trendy look.

    A.Bell 1- A-very-wear
    A.Bell- A-very-wear

    • Minuit Moins Sept, another chic Korean accessory brand, has the French name means ‘seven minutes to midnight.’ It indicates the beginning of a new day when good things are about to happen. Popular among male and female wearers, the simple yet elegant geometric design are made of silver 925 as the key material, with the key shade of gold, silver, dark blue, red and white.

    31.Minuit Moins SeptMinuit Moins Sept 1- A-very-wear

    Singaporean fashion labels include:

    • Mash-up, popular among fashion-forward people in Singapore, is the brainchild of three talented designers; a street fashion brand which incorporates inspiration from music, movies and the designers’ travelling experience.

    Mash ñ up-A-very-wear

    • Yesah, established by Linda Hao, a Chinese Singaporean-born designer, who combines her experience in modelling and an education in fashion. In 2013, she launched the brand with distinctive characteristic, to serve the lifestyle of confident ladies who enjoy life.

    Taiwanese brands include:

    • Momo’s March by Christina Lu, a Taiwanese American-born designer, who put together a range of materials, such as Russian diamond, brass, seashell, pearl and gemstones, into exquisite accessories under the concept of “Wearable thought,” practical for any time of day.

    Momoís march -A-very-wear

    • YU Square by Ringo Yu is famous for its sewing technique, which integrates the embroidery into the design. Furthermore, the fashionistas can mix and match its colorful blouses, skirts and socks to suit each occasion.

    YU Square A-very-wear

    From Japan:

    • Normal Timepieces, a minimalist-style Japanese watch brand, was brought to life by American designer Ross McBride. Having spent years in Japan, he was influenced by Japanese culture and incorporates it into his creation, which projects simplicity with a great sense of style.

    Normal Timepieces A-very-wear

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  • Sweden’s H&M opens doors in Sydney

    Sweden’s H&M opens doors in Sydney

    An artist’s impression of the H&M store in Pitt Street Mall’s Glasshouse building.

    The opening of Swedish fast fashion giant H&M Australia’s store this weekend in Sydney’s Pitt Street Mall will boost revenue for city retail landlords, agents says.

    It follows Forever 21, Zara and Uniqlo onto the strip. They were the first major international brands to put the area on the global map.

    CBRE said that with openings or leases secured on more than 30 new stores, the pace of first-time international brand entrants and expansion in Australia continued unabated.

    This compares with more than 35 new openings and lease deals for 2014, CBRE’s third-quarter 2015 Retail MarketView​ shows.

    CBRE’s senior research manager, Danny Lee, said Sydney and Melbourne had had the highest activity in 2015, followed by Brisbane and Perth.

    “Foreign brand penetration in Australia is fairly low in comparison to other countries at 28 per cent, which is a key attraction for these offshore retailers,” Mr Lee said.

    “It would take an additional 50 brands to enter the market to reach the same level as some Asian countries, such as Singapore and Hong Kong, with 90 more required to reach the UK’s level of 57 per cent.”

    CBRE’s head of retail tenant representation Australia, Tim Starling, said the low penetration rate in Australia served to minimise competition between foreign brands.

    “Other key attractions for foreign retailers include the fact that Australia is one of the highest-consuming developed nations, with consumption per capita growing at twice the rate of the US between 2008 and 2014,” Mr Starling said.

    CBRE’s head of retail brokerage leasing Australia, Leif Olson, said the impact on the market would also mean that super prime rents would grow by a forecast 4 per cent per annum over the next three years

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  • Gold retailer Degussa opens Singapore branch

    Gold retailer Degussa opens Singapore branch

    Degussa, one of Europe’s largest gold and precious metals retailer, is opening a branch in Singapore, its first outside Europe.

    With the opening of the 3,000-square-foot branch near Dhoby Ghaut MRT Station on Wednesday evening, Degussa hopes to capture the growing retail market for gold and precious metals not only in Singapore but also in Asia.

    “Singapore is not yet a big wholesale market (for gold) like Hong Kong is, but we bank on retail clients and Singapore is an ideal market to start with,” said Wolfgang Wrzesniok-Rossbach, chief executive officer of Degussa, in an interview with The Business Times on Wednesday morning at its Singapore branch.

    The Singapore branch will offer a range of physical bullion products, including gold, silver and platinum coins of various weights, and investment bars.

    It will also retail gift collection items, including pure gold cufflinks and gold watches, in a specially designed showroom.

    In addition, the branch also offers safe deposit box rental services for customers who wish to safekeep their valuables with Degussa.

    Degussa aims to start its online store for the Singapore market in two weeks’ time. It also plans to allow customers to cash in their scrap gold in the near future.

    Mr Wrzesniok-Rossbach highlighted the strong and timeless appeal that gold has for Asian consumers, and said that sales of jewellery and accessories will be a key segment of the Singapore branch’s operations. For example, customers who hope to gift their children or grandchildren will find something to their liking at the branch.

    “Because this same gold has been recycled over millennia and its value remains,” he said, pointing to a Degussa 1kg gold bar. “When you touch this, you have one atom in it that came from Cleopatra’s crown.”

  • Marie France Van Damme Announces The Opening Of Its Fifth Boutique In Singapore In November

    Marie France Van Damme Announces The Opening Of Its Fifth Boutique In Singapore In November

    Marie France Van Damme, the Hong Kong-based designer known for her globally influenced line of luxury resort, swim, and ready-to-wear, announced today the opening of a fifth boutique in Singapore’s Takashimaya Shopping Centre in November 2015. Since launching in 2011, Marie France Van Damme continues to expand her presence worldwide, focusing on cities that not only inspire the designer, but also appeal to her sophisticated, jet-set clientele.

    “From a global perspective, this is a milestone for the brand. We are excited to bring the Marie France Van Damme collection to life in this vibrant city,” said Marie France Van Damme. “I couldn’t imagine a better location for our first store in Singapore.”

    Located on the third floor of the Takashimaya Shopping Centre on Orchard Road, the 1000 square foot boutique will evoke Marie France Van Damme’s signature style, which blends subtle Asian influences and elegant simplicity. Also available at the boutique will be the brand’s assortment of accessories, including candles, handbags and a special home collection created exclusively for this location.

    Marie France Van Damme will celebrate the flagship opening with several events in the Fall 2015.

    The company currently has 100 retail locations. The Singapore store will mark the company’s fifth branded boutique worldwide. Marie France Van Damme opened her first store in 2013 at the International Finance Center (IFC) in Hong Kong.

    About Marie France Van DammeMarie France Van Damme is a Canadian-born, Hong-Kong based fashion designer, celebrated hostess and author, whose luxury lifestyle resort wear brand is inspired by her travels and personal style. Marie France Van Damme introduced her eponymous label in the summer of 2011.  The Marie France Van Damme line is defined by an edited collection of elegant and seasonless staples with every piece designed to transition seamlessly from city to resort.

    Marie France Van Damme is available at her other retail locations in Hong Kong, Bangkok, Phuket and London, Bergdorf Goodman, Harrods, Selfridges, Saks Fifth Avenue, Neiman Marcus and exclusive resorts such as Amanresorts and the One & Only.  She is also the author of the coffee table book RSVP: Simple Sophistication, Effortless Entertaining (Thames & Hudson) featuring her effortless style and entertaining tips with photographs by Herbert Ypma of the Hip Hotels series. 

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