Retail News CRM

Category: Fashion

Retail News Asia is committed to providing both local and global retailers with the latest Fashion news throughout the Asian market. This on a daily base.

  • L’Oreal names Adrien Koskas GM for consumer products

    L’Oreal names Adrien Koskas GM for consumer products

    Cosmetics giant L’Oreal has named Adrien Koskas as GM for the consumer products division (CPD) of its South Asia-Pacific, Middle East and North Africa regions (SAPMENA).

    Koskas will report directly to Vismay Sharma, president of SAPMENA, based in Singapore, in his new role.

    L’Oreal’s CPD houses four of the company’s major brands: L’Oreal Paris, Maybelline New York, Garnier, and NYX Professional Make-Up.

    Described as a “pioneering brand builder,” Koskas brings extensive experience in global leadership and marketing to his new role, with an 18-year career at L’Oreal.

    He previously served as the global brand president of Garnier since 2019, where he achieved record growth and launched Green Beauty, the flagship brand for the group’s sustainability commitment.

    Koskas has also held various leadership positions in France, Brazil, and the UK, including serving as GM, CPD for L’Oreal UK & Ireland.

    “With 3 billion people, SAPMENA is a highly strategic region full of opportunities and new ways to engage with young, digital and beauty-savvy consumers who represent many cultures and beauty aspirations,” said Koskas on his new appointment.

    “It is also the perfect environment to embrace cutting-edge innovations in many fields to deliver our high growth ambition.”

    Koskas succeeds Manashi Guha, who takes on a new role as MD, CPD for L’Oreal UK & Ireland.

    Lees ook:

  • H&M Indonesia Boosts Productivity, Compliance, Employee Engagement, and Sustainability with YOOBIC

    H&M Indonesia Boosts Productivity, Compliance, Employee Engagement, and Sustainability with YOOBIC

    H&M Indonesia today revealed outstanding results from its partnership with YOOBIC, the leading employee experience platform for frontline teams in the retail and hospitality spaces. Adopted across the global retailer’s more than 60 stores and 290 frontline staff in Indonesia, YOOBIC’s all-in-one solution has significantly elevated employee engagement, communication, and productivity, as well as enhancing efficiency, compliance, and sustainability.

    Recognizing the considerable progress made since rolling out YOOBIC in 2022, H&M Indonesia received the coveted “Project Launch of the Year” title at this year’s YOOBIC Frontline Excellence Awards. The judges commended the retailer for achieving an impressive 99% user engagement rate and 97% compliance in operational, visual, and cash office standards since implementing the YOOBIC platform.

    The adoption of YOOBIC’s comprehensive frontline employee experience platform has greatly improved communication within H&M Indonesia. With features like private messaging, video calls, and group chats, staff members can easily interact with each other, fostering a strong sense of community and teamwork. Social media-style newsfeeds further enhance this environment by providing a space for co-workers to share announcements, success stories, and sources of inspiration. Frontline staff can also use the platform to directly communicate with store managers and company leaders, sharing advice, concerns, and feedback.

    Armed with YOOBIC’s unified digital platform, H&M Indonesia’s customer-facing staff also have the ability to automate and expedite manual tasks, enabling them to better manage their time and focus on higher value objectives, including building customer relationships. The clothing brand’s retail leaders, meanwhile, have hailed YOOBIC’s digitization of daily operations as a game-changer. Electronic checklists give store managers the ability to easily follow their team’s task completion, while the inclusion of real-time analytics and automated dashboards allows for the tracking of key performance indicators (KPIs) and compliance by HQ, ensuring that shopper experiences consistently meet the highest standards across all locations.

    YOOBIC’s extensive L&D capabilities have proved a hit with H&M Indonesia as well, bolstering the company’s dedication to ongoing employee growth. Store leaders can now seamlessly integrate training into their team members’ workflows, delivering interactive courses directly to their mobile devices in easily digestible chunks. This microlearning approach is enriched with data, providing managers with comprehensive insights into their employees’ progress and needs.

    “With YOOBIC, we’ve been able to harness frontline digitization and real-time analytics to solve a number of stubborn operational challenges, including difficulties around communication, productivity, compliance, and training,” said Karina Soegarda, Communications Manager, H&M Indonesia. “YOOBIC’s digitization of manual processes has also allowed us to cut paper usage by 30%, boosting our company-wide commitment to greater sustainability.”

    “Through real-time data sharing and digital task management, H&M Indonesia boosted productivity, launched 25 campaigns in six months, and elevated decision-making with analytics, all while making a significant reduction to paper usage,” said YOOBIC’s Paul Mabire, Head of Sales, APAC. “We’re proud to partner with a brand so committed to operational excellence and employee engagement — we can’t wait to keep innovating together!”

    YOOBIC’s collaboration with H&M Indonesia is an important element of the company’s wider expansion strategy in the Asia Pacific (APAC) region. According to the CBRE Asia-Pacific Retail Flash Survey report of January 2023, 71% of APAC retailers are planning to expand or open new stores this year. By 2025, retail sales in Southeast Asia, Australia, and New Zealand are projected to reach $1.77 trillion, positioning the region as the fourth-largest global market by 2050.

    YOOBIC stands ready to support APAC’s retail boom, providing a mobile-friendly and digitally-enabled workplace experience that enables retail staff to excel while fostering engagement and loyalty. YOOBIC’s comprehensive platform for frontline employee experience has been extensively tested and proven successful in hundreds of thousands of retail stores worldwide. Constantly evolving with product innovations and incorporating new technological features including AI features, YOOBIC effectively drives frontline employee communication, training, and operations, meeting the evolving needs of the industry.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Shein x Klarna Collaborate to Create One-Stop Pop-Up Shop in Melbourne

    Shein x Klarna Collaborate to Create One-Stop Pop-Up Shop in Melbourne

    Global integrated fashion and lifestyle marketplace, SHEIN and leading buy now, pay later service, Klarna are collaborating to launch Styletopia, the ultimate pop-up shopping experience.

    The pop-up will showcase SHEIN’s on trend and affordable clothing and accessories for all genders and ages, with a wide size range on offer, as well some of SHEIN’s newest collections across beauty, home, activewear, electronics, shoes and even some cute outfits for pets!

    A DJ will be playing tunes while shoppers will also get to enjoy a beauty bar, photo booth, complimentary coffee from the  Styletopia Cafe and a custom tote-bag personalisation station.

    The pop-up partnership, which has been a hit in overseas markets, is the first one of its kind in Australia.

    The SHEIN x Klarna one-stop pop up store will be located at Clifton Street Markets, 41- 43 Clifton St, Prahran, Melbourne and will be open from 10am to 6pm from Friday 8th September to Sunday 10th September 2023.

    Lees ook:

  • H&M probes alleged Myanmar factory abuses as pressure intensifies

    H&M probes alleged Myanmar factory abuses as pressure intensifies

    H&M is investigating 20 alleged instances of labour abuse at Myanmar garment factories that supply the world’s second-largest fashion retailer, it told Reuters, just weeks after top rival Zara-owner, Inditex, said it was phasing out purchases from the Southeast Asian country.

    A British-based human rights advocacy group tracked 156 cases of alleged worker abuses in Myanmar garment factories from February 2022 to February 2023, up from 56 in the previous year, indicating a deterioration of workers’ rights since a military coup in February 2021.

    Wage reduction and wage theft were the most frequently reported allegations, followed by unfair dismissal, inhumane work rates, and forced overtime, according to a report by the non-governmental organisation, the Business and Human Rights Resource Centre (BHRRC).

    “All the cases raised in the report by BHRRC are being followed up and, where needed, remediated through our local team on the ground and in close co-operation with relevant stakeholders,” H&M said in a statement.

    “We are deeply concerned by the latest developments in Myanmar, and we see increased challenges to conduct our operations according to our standards and requirements,” the Swedish retailer said.

    The BHRRC has been tracking allegations of workers’ rights abuses in garment factories since the military junta took power in Myanmar, plunging it into political and humanitarian crisis. The tracker includes abuse cases at 124 separate factories.

    The BHRRC said it tracks cases of alleged abuses through sources including union leaders, international media, and local media such as Myanmar Labour News, and seeks to verify reports by checking with brands and interviewing workers. Reuters did not independently verify its findings.

    There have been 21 cases of alleged abuses linked to Inditex suppliers over the two-year period, and 20 linked to H&M suppliers, according to the report. Inditex declined to comment on the report.

    A spokesperson for Myanmar’s military government did not reply to a request for comment on the findings. The Myanmar Garment Manufacturing Association did not reply to a request for comment.

    The decision by Inditex to exit came after Primark and Marks & Spencer announced plans to exit last year, in a trend that some say could ultimately leave garment workers worse off. Spanish fashion retailer Tendam also plans to stop sourcing from Myanmar, it said in its response to a BHRRC survey of brands published alongside the report.

    “We do have a plan to leave the country but it has not been announced yet,” Tendam wrote, without detailing its reasons. Tendam did not immediately reply to a request for comment.

    Primark told Reuters it expects its final orders from Myanmar suppliers to ship before the end of this year, but has also increased its presence on the ground. “As we work towards our exit, we’ve doubled the size of our Ethical Trade team on the ground, enabling us to more regularly visit the factories we still work with and giving us greater visibility,” Primark said.

    Lees ook:

    Lees ook:

  • Gentle Monster to launch in Thailand

    Gentle Monster to launch in Thailand

    Set to open this August 25, the first flagship store in Thailand will occupy a 340 sqm space in Emquartier, marking another milestone for the luxury brand’s success. Drawing inspiration from its signature futuristic and avant-garde aesthetics, the store promises to echo the brand’s experimental approach to design.

    Gentle Monster’s fans can eagerly anticipate an array of exclusive offerings, including the Bold Collection with its galactic motifs and the collaborative collections with the French luxury house, Maison Margiela.

    To commemorate its store launch in Bangkok, the brand is set to release a ‘Bangkok Limited Edition’ collection this coming September.

    Originating from Seoul in 2011, Gentle Monster, founded by Hankook Kim, has consistently captivated audiences with its unconventional beauty and boundary-pushing designs.

    Lees ook:

  • Marimekko drafting SEA expansion, by entering Vietnam and Malaysia

    Marimekko drafting SEA expansion, by entering Vietnam and Malaysia

    Finnish lifestyle brand Marimekko is accelerating its expansion plan in Southeast Asia, eyeing entering Vietnam and Malaysia this year under a franchise partnership with Jaspal Group.

    The expansion, which will include the launch of online stores in both markets, comes after the brand disclosed its Singapore debut with the first store scheduled to open at Ion Orchard next month.

    “These fast-growing markets provide interesting opportunities for Marimekko’s international growth and hence support our company’s objective to scale the Marimekko business in the upcoming years,” said Natacha Defrance, Marimekko’s senior VP of Sales, Region East.

    While Marimekko’s first Vietnam stores are set to open in the Lotte Mall Westlake in Hanoi and Takashimaya shopping mall in Ho Chi Minh City later this year, the brand’s first stores in Malaysia will be located in Suria KLCC mall at Petronas Twin Towers and in The Exchange TRX mall.

    Marimekko will join Jaspal Group’s portfolio of brands, including Diesel, Melissa and Asics. The Thai retail operator has a presence in four Asian countries.

    “We see a growing interest in Asia towards the Finnish design house renowned for its bold prints and colours, so now is a good time to make Marimekko available to local consumers and tourists alike in Vietnam and Malaysia,” said Yosathep Singhsachathet, deputy CEO at Jaspal Group.

    The Finnish lifestyle brand said Asia, where it has seen growing demand for its products, is its most important geographical area for international growth. The brand has 80 stores and shop-in-shops in Asia Pacific.

    Lees ook:

  • Canada probes Ralph Lauren on alleged use of forced labor in China

    Canada probes Ralph Lauren on alleged use of forced labor in China

    Canada’s corporate ethics watchdog said on Tuesday it was investigating Ralph Lauren’s Canada unit to probe allegations the apparel retailer’s supply chain and operations in China used or benefited from the use of Uyghur forced labor.

    The Canadian Ombudsperson for Responsible Enterprise (CORE) said it had published an initial assessment report after complaints filed by a coalition of 28 civil society organizations in June 2022 against the Polo shirts maker.

    CORE said the report published detailed allegations the company had supply relationships with Chinese companies that use or benefit from the use of Uyghur forced labor.

    The watchdog said it was also looking into similar allegations for Canada-based mining and property investment firm GobiMin.

    Ralph Lauren and GobiMin did not immediately respond to Reuters’ requests for comment.

    A similar investigation was launched by CORE into Nike Canada and Dynasty Gold in July over allegations they have or had supply chains or operations in China identified as using or benefiting from the use of Uyghur forced labor.

    In the last couple of years, several large US and Canadian multinational companies have been accused of using Uyghur forced labor either directly or in their supply chains.

    CORE monitors and investigates human rights abuses mainly by Canadian garment, mining and oil and gas companies operating abroad.

    Lees ook:

  • Bulgari opens concept store in Tokyo’s Omotesando

    Bulgari opens concept store in Tokyo’s Omotesando

    Luxury jeweller Bulgari has opened its concept store on one of the most bustling shopping streets in Japan’s Tokyo, Omotesando.

    The store is inspired by Rome and has yellow as the dominant colour flowing throughout the store, seeking to deliver the sensation of a vacation to the Italian capital, with sunshine and great architecture.

    The store boasts a saffron-coloured facade with a variety of accessories such as necklaces, watches, and bags.

    Bulgari originally opened its doors in Japan more than 37 years ago, and in 2007, it opened its largest store in Tokyo’s famed Ginza retail district.

    The company now operates in major cities in Japan including Sapporo, Sendai, Tokyo, Yokohama, Chiba, Nagoya, Kyoto, Osaka, Kobe, Okayama, Hiroshima, Matsuyama, and Fukuoka.

    Lees ook:

    Lees ook:

    Lees ook:

  • L’Occitane enters trading halt ahead of probable takeover bid

    L’Occitane enters trading halt ahead of probable takeover bid

    Hong Kong-listed cosmetics giant L’Occitane International has entered a trading halt – fuelling speculation that the company’s controlling shareholder is about to launch a takeover bid ahead of a delisting.

    Bloomberg reported on July 25 that L’Occitane’s Austrian billionaire chairman Reinold Geiger, whose interests control 70 percent of the issued stock, was mulling buying out minority shareholders. The news agency cited sources that requested anonymity.

    Today, Bloomberg said an offer is “possible” at about US$4.48 per share, representing a 37 percent premium to the company’s closing price on Tuesday.

    In June, the company reported 19.8 percent growth in net sales for the year to March 31 to surpass US$2.33 billion, but a decline in operating profit of 23 percent to $261.12 million, largely due to impairments. During the past year, L’Occitane’s share price has shed 20 percent of its value to about $4 billion.

    L’Occitane’s recent sales growth has been largely driven by its Brazilian brand Sol de Janeiro – now the group’s second-largest label behind its namesake, achieving sales growth of 135.2 percent last year – and another spinoff brand, Elemis collagen creams. At the end of March, L’Occitane bought Australian skincare brand Grown Alchemist for an undisclosed sum and promptly set about expanding its reach and store network. Its other labels include the Korean skincare brand Erborian and the French organic beauty label Melvita.

    This would not be the first time the company has considered going private. In late 2018, US-based private equity group Advent International – which this week acquired a majority stake in Australian fashion brand Zimmermann – reportedly enquired about acquiring the company, which then had an estimated market value of US$2.7 billion.

    According to Bloomberg data, L’Occitane was listed in 2010 with an IPO that raised $787 million. The news agency said Geiger was also considering relisting the business in Paris or another European market as early as next year.

    Lees ook:

    Lees ook:

  • Gap appoints Chris Blakeslee president and CEO of Athleta

    Gap appoints Chris Blakeslee president and CEO of Athleta

    Gap announced that it is appointing Chris Blakeslee as the new President and CEO of Athleta, joining the company August 7. In this role, Blakeslee will drive strategic growth for the portfolio’s nearly $1.5 billion1 women’s active and lifestyle brand, and certified B Corporation, building on the foundation of Athleta’s product innovation and its mission to ignite a community of active, healthy, confident women and girls who empower each other to reach their true potential through the ‘Power of She.

    Blakeslee brings broad expertise in the apparel retail and wholesale industries, holding roles across marketing, sales, product portfolio management, operations, and supply chain, serving most recently as President of sister companies Alo Yoga and Bella+Canvas since 2017. In that time, Alo Yoga grew to over $1 billion in sales in 2022, nearly doubling its year-over-year growth.

    “A true brand champion, Chris is known for driving results in high-growth businesses through the blend of creativity and operational rigor,” said Bob Martin, Executive Chairman and Interim CEO, Gap Inc. “Chris is a strong, decisive leader and proven business driver across multiple industries, including active apparel and wellness – one of the fastest and most aspirational retail sectors – making him well suited to guide Athleta into long-term, sustainable growth rooted in delivering high-quality performance product and a rich omni shopping experience.”

    “I’m thrilled to join the Gap Inc. team and to lead Athleta – a brand I’ve long admired. I see incredible runway for the brand to capitalize on its unique, purpose-led positioning and performance product innovation, leveraging its assets across marketing, stores, product and community to deliver consistent growth,” said Blakeslee. “There is something really captivating about the ‘Power of She’ when it comes to engaging women and girls in all aspects of life, and I can’t wait to jump in with the teams to harness this in a way that will further serve customers’ wants and needs.”

    Blakeslee joins a strong and dedicated Athleta leadership team, including Chief Creative Officer, Julia Leach, who was appointed in May to clearly and consistently articulate the brand voice and vision across all its touch points.

    Lees ook:

  • Swiss watchmaker Swatch sues Malaysia for seizure of Pride watches

    Swiss watchmaker Swatch sues Malaysia for seizure of Pride watches

    Swiss watchmaker Swatch says it has begun legal proceedings against the Malaysian government for seizing LGBTQ-themed watches from its stores.

    The move comes after officials impounded 172 watches from its rainbow-colored Pride collection, on sale at shopping malls across Malaysia.

    Swatch wants damages and the return of the watches, worth $14,000 (£10,700).

    Homosexual activity is illegal in Malaysia under both secular and religious laws.

    It is punishable by a prison sentence or corporal punishment.

    Swatch filed its lawsuit last month at the High Court in Kuala Lumpur. The case is expected to be heard later this week.

    The Malaysian authorities said the watches were confiscated in May by the home affairs ministry’s law enforcement unit because they featured “LGBT elements”.

    But Swatch said in its lawsuit that the watches were “not in any way capable of causing any disruption to public order or morality or any violations of the law”.

    The firm said its trading reputation had been damaged by the seizures, adding that its “business and trading figures also suffered in the immediate aftermath of the seizure for some time”.

    In its promotional campaign for the Pride-themed watches, Swatch describes them as “loud, proud, uplifting and bursting with meaning”.

    The firm refers to the Pride flag as “a symbol of humanity that speaks for all genders and all races”.

    In its lawsuit, Swatch said the watches “did not promote any sexual activity, but merely a fun and joyous expression of peace and love”.

    The lawsuit names the home affairs ministry and the government of Malaysia as respondents.

    Home Affairs Minister Saifuddin Nasution Ismail has yet to comment publicly on the matter.

  • Levi’s unveils plant-based edition of its 501 jeans

    Levi’s unveils plant-based edition of its 501 jeans

    Levi’s new jean is an example of how the food industry is setting fashion trends.

    The San Francisco-based brand unveiled the first 501 jeans made with at least 97 percent plant-based materials. Levi’s said the jeans “are an indication of what the industry could look like in the years ahead given the push to minimize synthetic materials derived from fossil fuels and the need to make more garments with renewable inputs rather than finite resources.”

    Made with 100 precent OCS-certified organically grown cotton, the 501 is made possible through a series of recent partnerships and pilots.

    The fabric is dyed with plant-based indigo from Springfield, Tenn.-based Stony Creek Colors and references Levi’s X80 archival shade. Levi’s invested in the only industrial-scale manufacturer globally of 100 percent bio-based indigo last year, following several Levi’s WellThread collections made with the naturally derived colors.

    For the internal pocket bag, Levi’s used a 100 percent cotton component printed with BioBlack TX, a plant-based black pigment made from wood waste, manufactured in a closed-loop system and developed by Nature Coatings, another collaborating partner. Levi’s used the pigment for the floral-printed denim pieces in its Spring/Summer 2023 WellThread collection.

    Levi’s replaced its traditional leather back patch with one made with Mirum by NFW. The material is comprised of 100 percent bio-based, plastic-free inputs that don’t generate effluent during production. The brand’s use of leather for patches has been a point of contention with PETA, which for years has urged it to adopt cruelty-free alternatives.

    Each patch says “plant based” and features a small green leaf next to the lot number. The leaf motif is replicated on the 501’s signature red tab.

    The sewing thread, care label and metal trims are the only materials not created from plants.

    The women’s plant-based 501 is available now in two washes, a light wash Indigo Botanics and medium wash Blue From Green, and retails for $128. A men’s version will launch on July 31.

    “In our ongoing research and development, we strive to improve our design practices and conserve environmental resources every way we can,” said Una Murphy, Levi’s director of design innovation. “By incorporating sustainable innovation, in mainline and premium product alike, we learn what’s possible and how we can continue working towards solving some of our biggest challenges.”

    The plant-based jean is part of a suite of newness from Levi’s that challenges traditional denim manufacturing.

    Levi’s will bow a cottonized hemp-cotton blend selvedge 501. The jean will be available in a variety of shades and finishes for women and men, some featuring natural dyes. Levi’s will release the jeans throughout the year.

    The brand is also putting its circular 501, first released last year, back in the spotlight. The jean is made with a blend of organic cotton and Renewcell’s pioneering Circulose fiber, a viscose derived from recycled denim and other cotton-rich textile waste.

    The 501 has been a focal point for Levi’s, which celebrates 150 years this year.

    Paul Dillinger, Levi Strauss & Co.’s VP of design innovation, said the three innovative jeans show that while Levi’s is still focused on producing classic garments, the company is looking to moving in the direction of more circular products and practices.

    “We want to show what is possible,” Dillinger said. “At the same time, we’re challenging ourselves to get closer to a state where products like this represent more of a product line, and where they’re seen not as the endgame, but a starting point that we want to top next season, and the season after that.”

    Lees ook:

    Lees ook:

    Lees ook:

  • Charles & Keith opens first flagship store in South Korea

    Charles & Keith opens first flagship store in South Korea

    CHARLES & KEITH’s inaugural duplex flagship store in South Korea, situated in the vibrant shopping district of Gangnam, Seoul, is now open. Spanning an expansive area of over 330 sqm, the two-storey flagship store stands as the largest CHARLES & KEITH boutique in South Korea. Staying true to the brand’s signature minimalist aesthetic, the brand-new flagship store showcases a thoughtfully designed interior characterized by gradual curves and fluid lines. These design elements are seamlessly integrated with a clean and understated colour scheme, resulting in a space that emanates a modern and refined ambiance.

    The flagship store features striking sculptural artworks by South Korean artist Jeesun Park, making a bold statement throughout the space. These sculptures, while harmoniously complementing the spatial design, stand out with their unique shapes and artistic presence. Fragmented hemispheres, arcs, cut-out shapes, ellipses, and other unfinished forms intertwine to create new compositions.

    In addition to its remarkable features, the flagship store in South Korea is the first in the country to introduce Made for Me by CHARLES & KEITH, an exclusive in-house personalization service. This offering empowers customers to express their unique individuality by embroidering their names onto selected items. The embroidery also includes two exclusive icons inspired by Seoul: a magpie and a graphic artwork depicting the city’s vibrant essence. Going beyond the celebration of creativity and individuality, the Made for Me service adds an invaluable personal touch that brings deeper meaning to the act of gifting.

    Lees ook:

    Lees ook:

  • Uniqlo parent’s profit seen soaring to a Q3 record on China recovery

    Uniqlo parent’s profit seen soaring to a Q3 record on China recovery

    The Japanese operator of apparel retailer Uniqlo is expected by analysts to post a 25 percent jump in profit to a third-quarter record on Thursday (Jul 13), when the focus will be on whether its sales recovery in China is on track.

    Fast Retailing’s operating profit in the three months through May likely reached 102.4 billion yen (US$733.37 million), according to the average of forecasts from seven analysts surveyed by Refinitiv. That’s compared to 81.8 billion yen posted last year, a company record for the third quarter.

    The company, known for its fleece jackets and inexpensive basics, has 925 Uniqlo outlets in mainland China, more than in Japan and making it a bellwether for a retail market that was hammered by strict COVID-19 restrictions in recent years.

    Business in China started to turn around in January, resulting in sharp increases in sales and profit from the region in the second quarter, the company said in April.

    Fast Retailing’s shares have soared 30 percent so far this year, helping founder Tadashi Yanai cement his place as Japan’s richest person. The shares have outpaced a 23 percent advance in the benchmark Nikkei which has been one of the hottest equity markets worldwide.

    “The recovery in China has been weaker than expected, but Uniqlo is well positioned,” said Jamie Halse, who manages US$500 million in Japan strategies at Platinum Asset Management in Sydney but does not currently own Fast Retailing shares. “We have a positive view on the business, but are apprehensive of the elevated expectations represented in a premium valuation.”

    While China languished under lengthy pandemic curbs, Fast Retailing put more focus on its North American and European operations.

    Uniqlo had 61 locations in North America as of February, and is adding four stores in the US and two in Canada this summer as part of a plan to reach 200 by 2027.

    Lees ook:

  • New Balance introduces new retail concept to Singapore

    New Balance introduces new retail concept to Singapore

    New Balance recently opened a concept store in Singapore, featuring a Volumental 3D foot scanner in the fitting area.

    Since partnering with Volumental in 2017, the retailer says that it has scanned the feet of more than one million shoppers worldwide.

    The scan, which takes less than five seconds, provides employees with detailed information about a customer’s feet, helping them find a shoe that’s sure to fit.

    Volumental claims that the solution helps brands and retailers to: reduce return rates by 18%; increase footwear sales by 20%; achieve email capture rates of 71%.

    Earlier this year, Volumental launched a new self-service version of its AI-powered foot scanners.

    Specifically designed for an in-store experience, customers can take their own foot measurements at the click of a button and receive their best-fitting footwear recommendations on their phones.

    Volumental said it expected to launch this globally starting with select stores in the sporting goods industry, outlet malls and brand warehouses in 2023. This followed a beta test with Under Armour.

    “Our new self-service scanners will bring the same technology that specialty footwear retailers have enjoyed to many more retail segments,” said Alper Aydemir, CEO, Volumental.

    “Having worked with footwear retailers across different store formats, service environments, and staffing models, we realized the need for a self-service enabled shopping experience that is both innovative and easy to use for shoppers.”

    “This solution takes the guesswork out of the whole fitting experience and helps shoppers make smarter and faster purchase decisions with better-fit outcomes.”

    “The personalized recommendations create a more engaging customer experience, allow retailers to manage inventory in a much smarter way, and help solve the huge returns issue facing the industry.”

    Volumental’s self-service scanners will be placed in dedicated co-branded spaces in-store.

    Touchscreens will provide the customer with instructions on use as well as nearly instant personalized size recommendations on their perfect fitting brands and styles.

    Volumental was highly commended at the 2022 RTIH Innovation Awards last month, after impressing our judging panel in the Omnichannel Retail Initiative of the Year category.

    Our 2022 winners and highly commended entries were revealed at a sold-out event in central London on Tuesday, 6th December.

    RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognize standout examples through our awards.”

    “Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”

    “Congratulations to our 2022 retail technology hall of fame entrants.”

    Lees ook: