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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.

  • Billabong Indonesia opens in Lombok

    Billabong Indonesia opens in Lombok

    Australian surf label Billabong has opened its newest concept store at Lombok Epicentrum Mall.

    The store is part of Billabong Indonesia brand’s extensive retail roll out planned for this year and is a partnership with Royal Surf.

    “This is the perfect time for us to strengthen our relationship with Royal Surf given the good performance the brand is achieving in its multi brand channels,” said Billabong service manager Arini Sukmawati.

    The 86 sqm Billabong Lombok store takes on the brand’s new retail identity – direct from the brand’s headquarters in Gold Coast, Australia. Similar to all new stores opened by the brand globally this year, the space features Billabong’s signature surfboard ceiling, clean white brick walls, and educational panels portraying the stories of Billabong’s award-winning products and campaigns.

    Besides being at the starting point of the island of Lombok and Sumbawa, the new store, located in the largest city in the Mataram Province, is also the epicentre of commerce and industry services.

    “Mataram is growing and developing rapidly. Along with increasing tourism rates due to the location’s very vibrant surf locations, we are very confident that our relationship with Billabong will only strengthen with the opening of this new store,” said Meylya Handoyo, director of Royal Surf.

    She said the Lombok store will be stocked with a larger assortment of the brand’s stories and product collections to fully convey the Billabong brand story.

    Billabong Lombok is located on the first floor of Lombok Epicentrum Mall Jl. Sriwijaya no. 333, Mataram, NTB. It is open from 10am – 10pm daily.

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  • Aeropostale to enter India, Indonesia

    Aeropostale to enter India, Indonesia

    US mall-based youth fashion discounter Aeropostale has announced new partnerships in India and Indonesia.

    The company will open stores in India through a licensing agreement with Arvind Lifestyle Brands Limited, and in Indonesia through a licensing agreement with PT Mitra Adiperkasa TBK (MAP).

    Julian R. Geiger, Aeropostale CEO, said India and Indonesia are two of the most populated countries in the world and his company sees significant opportunities by taking the Aeropostale brand to them both.

    “Following the successful launch of our brand in the Philippines and Singapore, we are excited to capitalise on the strong growth prospects in both India and Indonesia. We are totally comfortable partnering with two of the largest and strongest retailers in their respectful regions, Arvind Lifestyle Brands Limited and MAP.”

    Aeropostale’s expansion plans in India include the opening of 50 standalone stores, 150 concessions and eCommerce operations across the country over the five years, from March 2016.

    The company expects to open 10 to 12 standalone stores in Indonesia over the next five years, with its first store opening in Jakarta in Fall 2016.

    Continued Geiger: “We anticipate ending the year with over 300 locations across 17 countries. Our aggressive international growth underscores the strength and recognition of the Aeropostale brand, and we look forward to announcing new global licensing partnerships throughout the year.”

    Aeropostale  principally targets males and females aged 14 to 17 and four to 12 year-olds through its P.S. from Aeropostale stores and website.

    Arvind Lifestyle Brands has licensing relationships with many international brands including Gap, TCP, Gant, Nautica, Arrow, Izod, US Polo Association, Elle, Ed Hardy, Hanes, Cherokee and Geoffrey Beene.

    PT Mitra Adiperkasa TBK  is a leading lifestyle retailer in Indonesia with over 1800 retail stores and a diversified portfolio that includes Starbucks, Zara, Marks & Spencer, Sogo, Seibu, Debenhams, Oshkosh B’ Gosh and Reebok.

  • Uniqlo ‘modest wear range’ targets Muslims

    Uniqlo ‘modest wear range’ targets Muslims

    A new Uniqlo modest wear range designed in partnership with UK designer and blogger Hana Tajima has gone on sale in Malaysia and Singapore.

    The Uniqlo X Hana Tajima Collection is launched today, July 3, at Uniqlo’s 313@Somerset store on Singapore’s Orchard Rd, and online at www.uniqlo.com/sg.

    A promotional campaign is fronted by Malaysian singer Yuna and the range is expected to be launched in Asian markets with large Muslim populations, such as Malaysia and Indonesia.

    Uniqlo says in line with its ‘LifeWear concept’, the collection is designed to meet the needs of women who value comfortable and relaxed wear. This inaugural collection takes inspiration from an international approach in appreciation of diverse culture and style.

    “Although Uniqlo X Hana Tajima caters to ladies who embrace modest fashion, this collection has been carefully designed to suit contemporary tastes and is versatile to complement a fashionista’s wardrobe easily,” the company said in a statement.

    The collection features pants (SG$49.90), skirts ($49.90), rayon blouses ($49.90) and long dresses ($49.90-$59.90) with a comfortable, relaxed fit which Uniqlo says makes them appropriate for an office and perfect as casual outfits.

    “Our conservative customers will certainly delight at the variety of stylish hijab headscarves ($24.90-$29.90), as well as inner AIRism hijab headscarves ($4.90) and headbands ($14.90). AIRism is a Uniqlo patented material that is thin, light and absorbs moisture for extraordinary comfort especially in tropical climates.

    Taku Morikawa, CEO of Uniqlo Singapore, said the Hana Tajima collection illustrates Uniqlo’s ambition of making fashionable, high quality products for all to wear, while enhancing their lifestyle at the same time.

    “We worked with Hana to determine what would be internationally appealing while keeping to the concept of modest wear. We are thrilled with the results of this unique collaboration which produced a desirable collection that does not sacrifice style for utmost comfort.”

    Hana Tajima, who oversaw the design of every piece in this collection, said: “We want to create a collection that not only appeals to modern ladies who prefer to dress modestly, but also an international audience who desire clothes that fit comfortably and look contemporary. My collection is specially designed to allow effortless mix and match for the today’s women to express their own style.”

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  • Manpower issues harm Sasa Singapore

    Manpower issues harm Sasa Singapore

    Sasa Singapore says government restrictions on staff hiring are adversely affecting its business in the city state.

    As a result, the company plans to rationalise its store network and exit some leases early.

    The Hong Kong-headquarter retailer says that during the year to March 31, turnover in Singapore decreased by 2.6 per cent in local currency to HK$243.7 million. Same store sales dropped by 5.9 per cent in local currency.

    “The challenge of filling vacancies for frontline staff and Singapore’s acute manpower constraints adversely affected our store productivity,” the company said in its stock exchange filing in Hong Kong.

    “Moreover, persistent high rental costs and dilution of sales due to the excessive increase in overall Singapore retail space contributed to the losses.”

    In the year ahead, Sasa says it will close inefficient stores, and open stores in new malls with good potential.

    “To cope with the persistent constraints in manpower, we will enhance staff product knowledge and monitor staff productivity. The group will also work on staff retention to minimise the loss of experienced sales staff and convert more job scopes into automation so that employees can concentrate on analytical and quality enhancement.”

    Sasa says its Singapore sales decline was mainly due to slower domestic income growth, resulting in weaker retail sentiment.

    “Tourism was also affected by the tragedy of the missing Malaysian Airlines passenger plane, with the top two tourist originating countries of Indonesia and China both seeing shrinkage in arrivals during the year.”

    In Malaysia, turnover increased 6.1 per cent in local currency to HK$340.3 million. Same store sales decreased 0.2 per cent.

    “Our retail sales and profit growth were impacted by changes in the management team, which adversely affected store productivity and our performance during the transitional period,” the company said.

    Malaysia sales were also affected by the Malaysian Airlines tragedy, resulting in a drop in tourism numbers.

    “We continued to expand our store network to provide enhanced service to our customers and to increase our competitiveness.”

    In Taiwan, Sasa’s turnover grew 5.7 per cent in local currency to HK$289.2 million. Same store sales grew by 1.6 per cent.

    “Sales were boosted by the enhanced house brand product mix and introduction of lower priced products and promotions, which drove traffic and sales through cross-selling. Our strategic store expansion plan began to bear fruit and we were able to capture the growth potential of increasing numbers of Mainland Chinese visitors,” the company reported.

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  • Chow Tai Fook Quarterly Retail Sales Fall 6% on Hong Kong, Macau

    Chow Tai Fook Quarterly Retail Sales Fall 6% on Hong Kong, Macau

    Same-store sales fell by 7 percent in mainland China, and were down 24 percent in Hong Kong and Macau in the fiscal first quarter ending June, the jeweler said in a statement Thursday.

    Hong Kong-based Chow Tai Fook has been hurt by China’s slowing economic and a government-led austerity campaign, which prompted shoppers to cut back on luxury purchases. The jeweler saw net income plunge 25 percent for its fiscal year ending March as stores in mainland China, Hong Kong and Macau suffered.

    The jeweler had cut prices for some of its diamond-set products by as much as 30 percent in June, in a bid to reduce inventories bloated by weaker-than-expected sales in the city.

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  • H&M stays mum on new model

    H&M stays mum on new model

    Sweden’s H&M has revealed it’s engaged on a brand new retail model – nevertheless it gained’t say what it’s for now.

    CEO Karl-Johan Persson has stated in an interview the brand new retail idea can be utterly totally different to H&M and its sister manufacturers, which embrace Monki, Cos and Low cost Monday.

    Persson hinted the brand new idea could also be unveiled in 2017.

    Cos is positioned as a excessive road model slightly pricier than H&M, concentrating on an older demographic and a bit of extra minimalist in design.

    Monki is aimed toward teenagers and younger ladies with daring, mischievous retailer designs and story telling decor.

    Low cost Monday is primarily a denim model, whereas Weekday positions itself providing Scandinavian type.

    Persson says the aim of secondary manufacturers is to permit H&M to check ideas and tendencies at totally different worth factors.

    Nils Vinge, from H&M’s investor relations division says the corporate has a improvement staff solely targeted on new ideas however acknowledged to media there are “some concrete issues” being thought-about presently.

    Archrival retail model Zara, a part of Spain’s Inditex, has expanded out of style into homewares with a rising community of Zara Residence shops. So it’s conceivable that H&M’s subsequent model won’t be

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  • Denmark’s Infinite Jewellery make Asian debut

    Denmark’s Infinite Jewellery make Asian debut

    Denmark’s Countless Jewellery has made its Asian debut, opening its first retailer in Taiwan.

    The opening marks Infinite Jewellery’s fourth continent and 23rd worldwide market. Earlier in June it opened its first retailer in Estonia.

    Its merchandise at the moment are out there in additional than 3500 shops worldwide.

    A grand opening occasion within the Taipei retailer was attended by invited friends from China, Hong Kong, Malaysia and Singapore – maybe giving an perception into the model’s subsequent Asian goal markets.

    Countless Jewellery founder Jesper Nielsen stated the opening week buzz surrounding the brand new Taipei retailer proves its designs and model really have international attraction.

    “Each single day we’ve seen a line of consumers inside and out of doors the shop, and regardless that our native administration anticipated this, it’s been a extremely constructive expertise for myself and the European group.”

    Infinite Jewellery plans 15 shops in Taiwan in “prime places in main cities”.

    CEO of Nice China area, Michael Thomsen, stated that given Infinite Jewellery is totally new to the market, it’s going to take time to construct the model consciousness there.

    “By opening with the attendance of principally all media within the area – in addition to a number of the major celebrities – we now have already come a great distance. I anticipate we’ll attain US$5 million in gross sales within the first yr, which shall be an excellent begin for our Asian enterprise.”

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  • King Fook blames protesters for purple ink

    King Fook blames protesters for purple ink

    Luxurious jeweller King Fook says it misplaced $149.25 million within the yr to March 31, blaming the Occupy Central protest motion and the decline in cashed up Mainland buyers.

    The group’s turnover from its retail enterprise plunged 27.eight per cent to $817.6 million (from $1.13 billion the earlier yr) “following the overall decline of the Hong Kong luxurious items retail market”.

    As the corporate discounted inventory to extend gross sales, its gross revenue margin fell from 23.7 per cent to 20.9 per cent.

    It closed or downsized 5 underperforming shops to consolidate its flooring area.

    In its submitting, King Fook stated the spending of vacationers from Mainland China was adversely affected by the Chinese language Authorities’s anti extravagance marketing campaign, which in flip critically affected the posh items retail market.

    “Furthermore, native consumption sentiment was negatively impacted by the outbreak of the Occupy Central protests through the interval from September to December 2014.

    “The Hong Kong luxurious items retail market has not recovered because the outbreak of Occupy Central and has additional deteriorated by weakened consumption patterns and deceased spending of vacationers from Mainland China. The group expects the sluggish market circumstances will proceed and the problem to the posh items retail market is extreme.”

    It says it can “improve its competitiveness by cautiously reviewing and adjusting its retailer places, working prices and product combine in order to raised tackle the altering vacationers’ wants and the native market”.

    The corporate expects lease reductions within the yr forward reflecting the slowdown of the posh items retail market.

    It should additionally develop a web-based platform in order to not miss out on the development in the direction of on-line buying. It hopes a web-based presence will direct web customers to go to the group’s bodily shops.

  • Tonymoly China launch marks big’s subsequent international leap

    Tonymoly China launch marks big’s subsequent international leap

    South Korean beauty maker Tonymoly says it’ll increase its funding in China after a market debut subsequent month, to faucet deeper into the fast-growing magnificence market.

    Tonymoly, Korea’s seventh-largest beauty model by 2014 gross sales, has posted double-digit progress since its institution in 2006 and has about 1800 outlets in 20 nations, together with Hong Kong, the US and Russia.

    Buoyed by strong gross sales, Tonymoly China is getting ready for its debut on July 10, pledging to broaden funding in China driving the ‘Okay-beauty growth’.

    “China has an enormous progress potential. We’ll maximise the expansion potential by immediately getting into the Chinese language market, which has turn out to be the corporate’s second home market,” CFO Hong Hyun-ki stated in a briefing.

    “We’ll construct factories in China to supply quite a lot of beauty manufacturers and open model outlets throughout the nation utilizing the fund from the general public providing.”

    Tonymoly logged 305.2 billion gained (US$275.four million) in gross sales final yr, with 11.four per cent coming from obligation free outlets and shops in Myeongdong, which closely depend on Chinese language shoppers.

    Tonymoly has provided to promote its shares between 26,400 gained and 30,200 gained per share, which might increase between 77.6 billion gained and 88.eight billion.

    A rising variety of Korean beauty companies are eyeing the worldwide market because the home market has turn into saturated and progress has been slowed resulting from fierce competitors and rising advertising prices.

    Whereas native companies discover it more durable to enter European and American markets, they’ve gained big reputation amongst Chinese language shoppers who love Okay-pop stars and are wanting to mimic their types.

    China’s cosmetics market is the world’s third-biggest market value $26 billion a yr, international market researcher Euromonitor stated, anticipating it should develop eight per cent annually from now to 2017.

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  • Sa Sa gross sales up, revenue trimmed

    Sa Sa gross sales up, revenue trimmed

    Hong Kong-based magnificence merchandise retailer Sa Sa has elevated gross sales regardless of the home market challenges.

    The group’s complete turnover elevated by 2.7 per cent from HK$eight.756 billion to HK$eight.993 billion within the yr to March 31.

    Retail gross sales in Hong Kong and Macau elevated by three.three per cent to HK$7.259 billion. However revenue slipped 10.three per cent to HK$838.eight million.

    The high-profile chain added a internet seven shops through the yr taking its community to 287, including only one in Hong Kong.

    In a telling signal of the problem dealing with Hong Kong retailers, because the demographic profile of Mainland Chinese language guests modifications, the variety of transactions in Hong Kong and Macau shops rose by 6.eight per cent, however the common ticket worth fell three.three per cent.

    “To put these figures in context, the variety of transactions of Mainland China vacationers elevated by 17.four per cent, whereas common gross sales worth per ticket decreased by 11.three per cent,” Sa Sa stated in its annual outcome.

    “The variety of transactions by native shoppers declined barely by 2.four per cent with a mean spending improve of four.three per cent. Briefly, gross sales progress for as soon as lagged behind the market.”

    In 2014, Mainland vacationer arrivals rose by a gentle 16 per cent. Similar day customer arrivals have been nonetheless the main engine of progress with a rise of 19.1 per cent, elevating gross sales in non-tourist areas, notably within the New Territories close to the border with the remainder of China.

    “Nevertheless, this was offset by an 11.three per cent drop within the common ticket gross sales of Mainland vacationer clients, which in flip was attributable to the weaker buying energy of vacationers originating from decrease tier cities and having much less spending functionality. One other issue was the growing demand for lower cost level merchandise, similar to Korean merchandise, which nonetheless diluted gross sales progress though driving retailer visitors.”

    Sa Sa stated, as well as, there was a better gross sales combine from day trippers whose spending is usually decrease than in a single day vacationers.

    “The change in consumption patterns was additional exacerbated by the rise of cross border eCommerce, which facilitated a lot quicker market penetration of cheaper and quick to market Korean merchandise with ideas which might be nicely appreciated by Asians, and particularly the more and more prosperous Chinese language shoppers.”

    Whereas Sa Sa reported 10.2 per cent retail gross sales progress within the first half of the fiscal yr, gross sales have been dragged by weaker shopper sentiment within the second half. Gross sales progress slowed within the third quarter and additional deteriorated within the fourth quarter with March 2015 being particularly weak due to anti-parallel items merchants incidents in residential areas, turning an in any other case constructive January to February two months’ interval into destructive territory for the fourth quarter.

    “As well as, the appreciation of the US greenback and the relative power of the Renminbi and Hong

    Kong greenback inspired extra Mainland vacationers to journey to markets with weaker currencies resembling Europe and South Korea. The relief of visa insurance policies by different nations strengthened their

    attractiveness to Mainland vacationers, whereas robust outbound travelling led to weaker native spending.”

    Sa Sa stated the Occupy Motion and anti-parallel items merchants incidents in Hong Kong broken Hong Kong’s profile and discouraged vacationers whereas additionally inflicting a drop in gross sales to native clients.

    Sa Sa’s general gross revenue margin dropped from 46.6 per cent to 44.eight per cent resulting from extra promotions being launched to drive gross sales in a slower market.

  • Luk Fook’s gem-set focus pays off

    Jeweller Luk Fook says regardless of a 17.1 per cent fall in gross sales within the final monetary yr, it nonetheless achieved its second greatest gross sales yr on report.

    And it says specializing in gem-set gross sales, with larger margins, meant its revenue for the yr to March 31 fell simply 9.1 per cent.

    The group recorded income of HK$15.923 billion (2014: HK$19,214,930,000). With its gross margin up by 2.2 factors to 24.1 per cent, because of strong progress in gem-set gross sales, gross revenue reached HK$three.832 billion. The revenue attributable to fairness holders decreased by 13.four per cent to HK$1.61 billion, which was higher than anticipated and marked the group’s second highest document.

    All jewelry retailers have posted declining gross sales by greenback worth, largely because of the ‘gold rush’ of 2014 which created a excessive baseline to match 2015 gross sales towards.

    “Though the excessive base impact because of the gold rushes has pale within the second half of the yr, the difficult international financial system, foreign money depreciation and relaxed visa necessities in different in style vacationer locations hampered the buyer sentiment of Mainland Chinese language vacationers in Hong Kong and Macau,” Luk Fook chairman and CEO Wong Wai Sheung stated.

    “However, with the group’s excellent gross sales technique, gross sales mixture of gem-set jewelry merchandise which bear larger gross margin has been efficiently elevated. The expansion in general gross margin resulted in a revenue enchancment of the retail enterprise in Mainland China. Along with the passable efficiency within the wholesale enterprise, it mitigated the influence of the drop of retail income in Hong Kong and Macau market.”

    Wong Wai Sheun stated the group carried out past expectation for the yr, coming off the ‘gold rush’ of 2014.

    The retail enterprise continued to be the first gross sales driver for the group with its income down 22.three per cent to HK$12.552 billion, accounting for 78.eight per cent of the group’s complete income. After the completion of the acquisition of 50 per cent curiosity within the issued share capital of China Gold Silver Group, an working firm partaking in jewelry retailing and franchising beneath the brandname of “3D-Gold”, the group turned certainly one of its suppliers.

    Along with the rise in variety of licensed outlets, the wholesale income grew by 14.eight per cent over the earlier yr to HK$2.794 billion, 17.6 per cent of the group’s complete income. Licensing revenue decreased by 6.6 per cent to HK$578 million, primarily as a result of gold gross sales returned to a comparatively regular degree.

    All year long, gold merchandise remained probably the most favorite merchandise amongst clients and along with platinum merchandise contributed roughly 60.2 per cent of gross sales.

    Similar retailer gross sales for Hong Kong and Macau fell 28.2 per cent and for Mainland China by 29.eight per cent.

    Mainland Chinese language guests continued to be the key driver for the retail enterprise in Hong Kong, which remained the important thing income for the group, contributing roughly 59.eight per cent of complete gross sales.

    Through the yr Luk Fook opened 115 new licensed outlets and closed 4 self-operated outlets. As at March 31, the group had a complete of 1383 outlets globally in Mainland China, Hong Kong, Macau, Korea, Singapore, the US, Canada and Australia.

    Wanting ahead, Wong Wai Sheung stated Mainland China’s financial slowdown, the adjustment to the coverage of Particular person Go to Scheme, and the abroad foreign money devaluation have brought on the Mainland Chinese language vacationers to modify to neighbouring nations for consumption, which affected the enterprise progress of the group.

    “The group stays prudent about our enterprise improvement briefly time period. Nevertheless, we’re nonetheless optimistic concerning the mid- to long-term enterprise improvement. We’ll proceed to utilise cross-selling methods and supply extra product collection that are diversified and should meet mass market wants. This helps to entice clients’ want for consumption and increase the gross sales of gem-set jewelry merchandise which bear comparatively larger gross margin.”

  • Singapore attire market stagnant

    Singapore attire market stagnant

    The Singapore attire market progress has been nearly stagnant since 2010 based on a brand new market report.
    The Singaporean attire retail business had complete revenues of US$2.four billion in 2014, representing a compound annual progress fee (CAGR) of 1.6 per cent between 2010 and 2014.
    However the report, Attire Retail in Singapore, forecasts CAGR of two.9 per cent for the five-years from 2014 to 2019, which might drive the business to a worth of $2.eight billion by the top of 2019.
    The womenswear phase was the business’s most profitable in 2014, with complete revenues of $1 billion, equal to 42.9 per cent of the business’s general worth.
    The business profile, one in every of a collection of reviews on Asian attire retail markets, is out there to buy on-line.
    It accommodates descriptions of the main gamers together with key monetary metrics and evaluation of aggressive pressures inside the market.
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  • Bangli holds Balinese Jewelry Fair

    Bangli holds Balinese Jewelry Fair

    The district of Bangli, Bali Province, is holding a Balinese jewelry fair at the Taman Budaya (Cultural Park), here, during the 37th Bali Art Festival being organized from June 13 to July 11, 2015.

    “We display hundreds of Balinese traditional jewelry to introduce them to the public. Bali has various kinds of unique and attractive jewelry,” Ni Wayan Rusmiati, a Balinese jewelry businesswoman, said here, Sunday.

    The price range of Balinese jewelry being offered during the festival is from Rp35 thousand to Rp1.5 million.

    She, however, complained that most visitors to the jewelry fair were just window-shopping.

  • Luk Fook’s revenues drop 17% in year ending March 2015

    Luk Fook’s revenues drop 17% in year ending March 2015

    The board of directors of Luk Fook Holdings (International) Limited announced the annual results of the company and its subsidiaries for the year ended 31 March 2015. The Group’s revenues dropped 17.1 percent $2.48 billion (HK$15.92 billion), from (2014: HK$19.21 billion). Yet the revenues were the Group’s second highest record. The company’s overall gross margin improved by 2.2 p.p. to 24.1 percent (2014: 21.9%), which it attributes to growth in the sales mix of gem-set jewellery products.

    Gross profit dropped 9.1 percent to $494 million (HK$ 3.83 billion).

    Mr. Wong Wai Sheung, Chairman and Chief Executive of the Group said, “During the year under review, although the high base effect as a result of the gold rushes has faded in the second half of the year, the challenging global economy, currency depreciation and relaxed visa requirements in other popular tourist destinations hampered the consumer sentiment of Mainland Chinese tourists in Hong Kong and Macau.” He added that the company’s sales strategy, sales mix of gem-set jewellery products has been successfully increased and the growth in overall gross margin lent to profit improvement of the retail business in Mainland China.

    The retail business revenues declined 22.3 percent. Gold products remained the most preferred amongst customers and together with platinum products contributed approximately 60.2 percent of the Group’s total sales. Overall same store sales growth was 28.3 percent (2014: +26.2%).

    Mainland Chinese visitors continued to be the major driver for the retail business in Hong Kong. But revenues from Hong Kong dropped 20.4 percent to $1.23 billion (HK$9.51 billion). The performance of Macau market was similar to that of Hong Kong market, with a 21.5 percent drop in revenues to $292 million (HK$2.26 billion). During the year under review, the Group opened a net total of 111 shops in Mainland China, 3 shops in Hong Kong and 1 licensed shop in Korea for the first time. As at 31 March 2015, the Group had a total of 1,383 shops globally in Mainland China, Hong Kong, Macau, Korea, Singapore, the United States, Canada and Australia.

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  • Trinity warns of looming loss

    Trinity warns of looming loss

    Menswear model Trinity has warned it expects to submit a loss within the half yr to June based mostly on preliminary buying and selling figures.

    The Hong Kong listed retailer and producer, majority owned by Li & Fung, says it has confronted challenges adapting to the weak retail market within the Chinese language mainland and a lower within the variety of mainlanders visiting Hong Kong and Macau.

    In a inventory trade submitting, the corporate stated it had incurred greater one time restructuring prices to mitigate these on-going unfavourable circumstances.

    “As well as, whereas unit gross sales remained comparatively secure, common promoting costs have been adjusted, putting strain on margins and mixed with the restructuring prices, the group’s efficiency was adversely affected.”

    In March, Trinity reported revenues of HK$2.6 billion (US$335.2 million) and a gross revenue of HK$1.9 billion ($244.95 million). The gross revenue margin was 74.1 per cent representing a 1.four proportion level decline as a consequence of liquidation of extra stock, a administration precedence within the second half.
    In Monday’s warning, Trinity stated administration is taking “vital actions” to enhance second half yr efficiency however expects the subdued retail market surroundings in Larger China will proceed.

    Trinity retails high-end menswear in Larger China and Europe. Its manufacturers embrace D’City, Gieves & Hawkes, Cerruti 1881, Intermezzo and Kent&Curwen.

    In March, CEO Richard Cohen stated Trinity was on monitor with its medium-term technique.
    “We goal globally and assume regionally,” he stated. “We’re optimistic for the close to and medium-term, and stay assured about the long run potential for our enterprise.
    He stated the corporate was setting up “the best retail technique and construction” to ship constant, sustainable returns into the longer term.
    “We’ve considerably strengthened our groups up and down the organisation and proceed to enhance stock administration. Up to now six months we’ve got developed centralised shared providers throughout all departments and improved our provide chain to make it less expensive and versatile.”

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