Category: Fashion

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  • New Zealand personal care brand Ethique concentrates on raising the bar

    New Zealand personal care brand Ethique concentrates on raising the bar

    Brianne West founded zero-waste beauty and lifestyle brand Ethique in her kitchen in Christchurch back in 2012, while completing her science degree. Since then, Ethique’s plastic-free products for face, hair, body, and home have prevented the manufacture and disposal of more than 11 million plastic containers worldwide, with a goal of 500 million by the end of 2030.

    But West didn’t start out having all the answers. So she started with questions.

    “I had absolutely no knowledge at all, I just did a lot of research. I’m a person who’s curious about pretty much everything,” West said. “The advantage of that is I’m very happy to spend hours of time searching Google or talking to people and really understanding more about products and materials.”

    West understands that it’s not always easy for brands to tell the wood from the trees when it comes to the sourcing of sustainable materials. This is why she says it’s so important to be curious, ask questions and, most importantly, ask for proof.

    “I’m lucky I’m a qualified scientist but [my advice is to] break something down to its component pieces to understand how that works, ask for proven or independent studies – that could be biodegradability or compostability studies if you’re looking at the packaging.”

    Of course, operating sustainability is not just about environmentally friendly packaging. As a certified B Corp, Ethique aims to operate sustainably and ethically in every single way.

    “Every decision we make, we factor in whether it’s fair and kind to the people we are dealing with and whether it’s detrimental to the environment. And if the answer is that it’s not ideal, then we don’t do it,” West said.

    “One example would be our fair trade policy. We ensure that with the ingredients we buy, people are paid fairly for them and they have ownership of the value chain. We try to work directly with people who produce it, so that they can get all the value out of their product.”

    Ethique also has a charitable program – donating 2 percent of sales to conservation, animal welfare, and environmental groups – and Living Wage certification for all teams.

    Crowdfunding and solid support

    Ethique was equity crowdfunded twice: first in 2015 with PledgeMe, which raised $200,000 in under 10 days; and two years later, when the brand was more established, raising half a million dollars in less than 90 minutes.

    “The key to crowdfunding is to tell a really compelling story and to get as many people interested before you actually launch. It needs to be something people can really get behind, be passionate about and want to see succeed,” West said. “Of course, you’ve also got to have really solid financials, make sure that what you’re saying is true so you are not misleading people.”

    With around 350 shareholders onboard, Ethique had a wide pool from which to get feedback on packaging and processes, but it did add to the pressure.

    “It was a massive support and a wonderful feeling having them there, but also I was acutely aware that I had a good chunk of people’s money resting on my shoulders and I never took that lightly.”

    In October 2020, Ethique completed “a very large investment phase” and was able to give back to those shareholders who had supported the business for so long.

    “Ninety-nine percent of those shareholders recognized the value of the shares and moved away with an enormous return,” West said. “Although they were sad to leave the company, they were very handsomely rewarded for their support of us, which is amazing. It was really cool to be able to pay off some of our shareholders’ mortgages, which was kind of the goal.”

    Ethique goes global

    Ethique is now in 24 markets globally, with 4500 stockists around the world. A 2016 article propelled the brand to new audiences and before long, Britney Spears and Ashton Kutcher were sharing the brand on their social media platforms.

    West has no idea how.

    “That was a total accident. I’ve no idea how they got hold of it. It was a total fluke!”

    Today, the US, UK, Australia, New Zealand, and Japan are Ethique’s top-performing markets. In some of these markets, the product range is adapted to better meet the needs of shoppers. In Japan, for example, sweet and citrus fragranced products are preferred over woody smells, West explained.

    Moving with the market

    While best known for products in bar form, Ethique is now experimenting with concentrates, as West believes that’s where the category is headed.

    “If I was to bet on a horse, it would be on concentrates, not refillable,” she said.

    Ethique now provides naturally derived and sustainably sourced active ingredients in a compostable cardboard box, and the customer adds water to create their own liquid product. There is a tutorial on the website to show customers how it’s done.

    “We’re targeting people who don’t use shampoo bars because we’ve already solved the problem there, and I don’t want to cannibalize those sales. We have found that people who’d like bars stay with bars, so this is for people who prefer a liquid product.”

    While Ethique might not be able to convince everybody that concentrates are the way forward, West believes they’re a more convenient solution for the customer. However, she is glad to see more sustainable choices on the market for consumers regardless.

    “Typically it’s very hard to create mass behavior change. If you can make a sustainable product convenient, then they pick up will be much quicker,” she said.

    “If you’re refilling dishwashing liquid, shampoo, conditioner, laundry detergent etc, you’ve got five or six bottles that you’ve got to carry around with you. It’s just not something a lot of people will do,” West explained. “I know a few retailers who find [refillables] very capital intensive and very messy, from a labor perspective, so there are some challenges.”

    Real change, not greenwashing

    As someone whose whole business proposition has been around sustainability from the get-go, West does find it frustrating to see so many businesses talk a lot about sustainability without making genuine change.

    “When businesses are greenwashing or completely misleading their consumers, if they put a tenth of the effort into actually doing something, they would genuinely start to change the world,” she said.

    But she does understand how difficult it is for bigger companies that have operated one way for so long to shift their core focus to sustainability.

    Her advice is: “If you are trying to retroactively put sustainability at the core of your business, do it one thing at a time, and do it properly.”

  • L’Occitane takes majority stake in beauty brand Sol de Janeiro

    L’Occitane takes majority stake in beauty brand Sol de Janeiro

    The L’Occitane group has acquired an 83 percent stake in Brazilian-inspired body care brand Sol de Janeiro as part of a strategy to expand its premium beauty offer.

    Upon the deal’s closure, Sol de Janeiro will become a majority-owned subsidiary of L’Occitane group. The value of the deal has not yet been disclosed.

    L’Occitane said Sol de Janeiro is a strategic fit in terms of brand recognition and identity, product quality, management capability, as well as growth, profitability, and cash generation prospects.

    “With a compelling brand story and an experienced and entrepreneurial management team, Sol de Janeiro reflects our values and premium beauty image,’ said Andre Hoffmann, vice chairman & CEO of L’Occitane.

    “Sol de Janeiro’s digital presence and established body care business are complementary to the group’s balanced geographical strategy to build a portfolio of strong brands in all major geographical regions,” the company said in a statement.

    Sol de Janeiro is expected to strengthen L’Occitane’s international presence to expand into new markets.

    Founded in 2015 in the US, Sol de Janeiro has become one of the fastest-growing premium skincare brands in North America and is known for its body care, fragrance, and hair care products designed for multi-generational consumers.

  • China and South Korea boost Burberry sales

    China and South Korea boost Burberry sales

    Double-digit sales growth in China, South Korea, and the Americas underpinned a 37-per-cent lift in first-half sales for luxury fashion group Burberry to US$1.63 billion.

    The lift reflected a recovery in-store sales as Covid-related lockdowns and trading restrictions eased in the six months to September 25, compared with the same period a year earlier when a swathe of stores was closed across key markets.

    “We have made strong progress in the half,” said Burberry chair Gerry Murphy in a statement.

    “Full-price sales are growing at a double-digit percentage, driving margin expansion and strong free cash generation. We are seeing an acceleration in performance in countries less impacted by travel restrictions and we remain confident of achieving our medium-term goals.”

    The company reported an adjusted operating profit of $263 million, up 16.2 percent year on year.

    While the Americas, Korea, and China buoyed sales, the company said other regions continued to be impacted by reduced tourist levels.

    The company said its new store format – of which 15 are now complete with a target of 50 by the end of next March – was drawing higher-spending customers through the doors. Online sales were performing well with sales of goods at a full price almost doubling year on year.

    During the six months, Burberry announced its CEO Marco Gobbetti was to stand down early next year, to be replaced by Jonathan Akeroyd in April.

    Murphy paid tribute to Gobbetti’s “vision and leadership” during Burberry’s transformation and said the board expects Akeroyd will build on the strong foundations to accelerate growth and deliver further value for shareholders.

  • Major garment producer says did not lose Nike orders due to Covid restrictions

    Major garment producer says did not lose Nike orders due to Covid restrictions

    Viettien Garment Corporation has not lost any of its Nike orders to other countries since the American company could not find suitable alternatives, its chairman said.

    “Until October, when we reopened, Nike has not moved any of its orders from Viettien to another country because it could not find an appropriate manufacturer in terms of delivery time and quality.”

    Giang, also chairman of the Vietnam Textile & Apparel Association, said during the restrictions in the third quarter, 13-14 percent of garment orders were moved from Vietnam to other countries.

    But there are signs that orders are coming back for next year, he said.

    “This is why we have set an export target of $43.5 billion.”

    Last year, exports had fallen by 9 percent to $35 billion.

    Giang said that foreign companies only move orders to other countries when the deadline is too close, and they continue to have confidence in Vietnam.

    Vietnam’s garment exports in the first 10 months of this year fell by 5 percent year-on-year to $24.74 billion.

  • Muji launches fresh food concept store with JD

    Muji launches fresh food concept store with JD

    Japanese retail giant, Muji, has forayed into the fresh food industry with the launch of a food complex in collaboration with JD’s Seven Fresh in Shanghai.

    Operated by both companies, the complex is located inside Ruihongtiandi shopping mall and spans 400sqm, housing a Muji store and fresh food supermarket, Seven Fresh, which is also the chain’s first presence in the city.

    Unlike Muji’s usual stores, the 1208sqm Muji store in the complex offers an expanded selection of food products, including ramen, oatmeal, frozen food, ice cream and pizza. Its fashion brands, Muji Labo and Muji Walker, are also available in the store.

    The Seven Fresh store features an omnichannel concept with both online and offline services, and customers can have their online orders delivered in as soon as 30 minutes.

    The store-in-store concept is not the first collaboration of the two companies: last year, Muji launched a new format MUJIcom, at JD headquarters in Beijing, providing employees selected products such as daily necessities and food, including lunch boxes featuring simple meals.

  • Adidas, Reebook supplier in HCMC faces worker shortage

    Adidas, Reebook supplier in HCMC faces worker shortage

    Footwear maker PouYuen Vietnam, the largest employer in HCMC, faces a shortage of workers after 6 percent quit due to Covid-19 restrictions and resultant problems.

    The Taiwanese company, a supplier to Adidas and Reebok, has sought the city’s support for finding new workers, according to the HCMC Media Center.

    Its plant, situated in Binh Tan District, was among many required to scale down production during the third quarter as the fourth wave of Covid hit HCMC.

    When the city lifted restrictions on October 1, workers who had left for their hometowns returned to work, with more 47,000, or 87.4 percent of the number that left, back as of Nov. 8, it said.

    Around 77.4 percent of workers are fully vaccinated.

    The American Apparel & Footwear Association, which represents more than 1,000 brands, in July urged the U.S. government to quickly provide vaccines to Vietnam to enable its apparel and footwear industries to resume production.

    Vietnam is the second largest supplier of apparel, footwear and travel goods to the U.S., accounting for a fifth of all imports, it said.

  • Uniqlo’s Beijing global flagship store opens doors

    Uniqlo’s Beijing global flagship store opens doors

    Global apparel retailer UNIQLO today announces that UNIQLO BEIJING SANLITUN Global Flagship Store will open on Saturday, November 6. The company’s third global flagship store to open in Mainland China and the first in Beijing, the new store will engage with Chinese traditions and society, incorporating technology, art, culture, creativity, and sustainability to create China’s first in-store curated LifeWear experience. UNIQLO will also feature a preview of the new store at the China International Import Expo (CIIE) 2021, taking place in Shanghai from November 5 to 10.

    “Over the past nearly 30 years, UNIQLO has grown together with our customers and partners in China. The UNIQLO BEIJING SANLITUN Global Flagship Store, our first global flagship store in Beijing, is the latest achievement of this relationship,” said Tadashi Yanai, UNIQLO Founder and Chairman, President & CEO of the Fast Retailing Group. “We are very pleased to be offering customers in Beijing with the ever-evolving concept of LifeWear that meets the daily lifestyle needs of people everywhere. The new Beijing store is an important step in our vision to become a truly global digital consumer retailing company,” he added.

    The new UNIQLO BEIJING SANLITUN Global Flagship Store will provide customers inventive and unique shopping experiences through installations conveying the functionality of representative UNIQLO products, art displays, and Mainland China’s first UNIQLO FLOWER, which offers fresh flowers and potted plants as another way to brighten up the lives of everyone.

    As an extension of the UNIQLO Miao Embroidery Project – a sustainability initiative created to preserve the traditional embroidery techniques of the Miao people that helps ensure important cultural traditions are not lost – a huge Miao embroidery titled “Life and Growth in Nature” will be showcased for the first time at the store. The one-square-meter work created by Students from Tsinghua University in Beijing and Miao embroiderers expresses humanity’s desire to live sustainably for the benefit of nature and future generations.

    The new store features Beijing’s first special UT floor, where a range of popular global contents express the power of pop culture and creativity through t-shirts and other items, as well as Beijing’s first UTme! customization workshop, where customers can design their own UT using thousands of specially designed contents, including Chinese-style Universal Studios and Disney motifs, and Chinese-calligraphy-themed patterns.

    UNIQLO will also debut “New Culture Style,” the first UT collection created in collaboration with Chinese artist Lao Shu (real name Liu Shuyong), who specializes in depicting contemporary life with ink painting. Three dedicated artworks have been created for the new collection – “Genuine Affection,” “Benevolent Love,” and “Beautiful Thing” – to capture the traditional Asian aesthetic and philosophy of truth, virtue and beauty in this special collaboration.

    As a global flagship store, UNIQLO BEIJING SANLITUN will carry the full lineup of UNIQLO LifeWear, including Uniqlo U and such 2021 fall/winter collaboration collections as “UNIQLO and White Mountaineering”. The store will also carry limited-edition fleece available in 11 colors for the opening, as well as the Premium Cashmere Collection, seasonal essentials made from 100% cashmere to provide unparalleled softness and warmth.

    UNIQLO opened its first store in China in September 2002, and currently the company is operating nearly 850 retail locations throughout the mainland. Participating in the China International Import Expo (CIIE) for the second year, UNIQLO will demonstrate its commitment to the Chinese market and showcase innovative apparel created through the Art and Science of LifeWear at its 1,000-square meter “Tomorrow Wonderland.”

  • Under Armour raises forecasts amid supply chain snafus

    Under Armour raises forecasts amid supply chain snafus

    Under Armour on Tuesday raised its full-year forecasts, alleviating investor concerns regarding holiday inventory shortages flagged by nearly all its peers and sending its shares up 16 percent.

    Factories in Vietnam, where Under Armour sources about one-third of its products from, have begun reopening after months-long shutdowns that have caused severe distress to many apparel brands.

    Bigger rival Nike Inc has cut its fiscal 2022 sales estimates, expecting delays during the holiday season, while Puma SE advised people to shop early for Christmas.

    “Nearly all factories that Under Armour does business with, including those in Vietnam are open,” finance chief David Bergman said, noting port congestion and container availability at some Asian ports have improved.

    Under Armour still had to cancel some spring/summer 2022 orders to ease pressure on the factories that will take until the year-end to ramp-up to full capacity, it said.

    It also warned of a hit to its revenue in the first half of 2022 before the challenges, including congestion at U.S. ports, start to dissipate.

    However, analysts have said Under Armour, which has deployed pricier air freight to bring in goods, is navigating supply-chain challenges well.

    They also believe the athletic wear boom that is helping Under Armour, Nike and Adidas AG could last at least through next year.

    Under Armour has also been spending more on marketing, pulling out of discounter stores and sharpening its focus on its own stores to elevate its brand image.

    “UA remains one of the few that successfully raised its pricing power, rather than simply enjoyed higher prices on lower industry promotions,” brokerage BMO Capital Markets said.

    The athletic wear maker said it expected 2021 adjusted per-share earnings to reach 74 cents, above Refinitiv IBES estimates of 55 cents, after it posted better-than-expected third-quarter results.

  • Nike manufacturers in Vietnam resume operations

    Nike manufacturers in Vietnam resume operations

    Nearly 200 Vietnamese contract manufacturers for Nike have resumed production after a period of suspension due to Covid-19, a company executive told Vietnamese Prime Minister Pham Minh Chinh.

    Nike is committed to further investing and expanding in Vietnam, the company’s chief sustainability officer, Noel Kinder, told the PM Tuesday at a meeting on the sidelines of the 2021 United Nations Climate Change Conference in the U.K.

    The fourth wave of Covid, which began at the end of April, forced factories, especially in the south, to restrict production and impose stringent curbs to contain its spread.

    On October 1, HCMC allowed most commercial and business activities to resume as rapidly increasing vaccination rates helped bring the outbreak under control.

    Vietnam’s purchasing managers’ index (PMI) surpassed the 50-point threshold in October after four months of decline, indicating expansion in manufacturing.

  • Foot Locker promises strong growth for Atmos as takeover completed

    Foot Locker promises strong growth for Atmos as takeover completed

    Foot Locker, the New York-based specialty athletic retailer, today announced that, through certain subsidiaries, it has completed the acquisition of atmos, a digitally-led, premium, global retailer headquartered in Japan, for $360 million, subject to certain customary adjustments.

    Richard Johnson, Chairman and Chief Executive Officer of Foot Locker, said, “We are delighted to officially welcome atmos’s iconic founder, Hidefumi Hommyo, and the entire atmos team to the Foot Locker family. We deeply value atmos’s unique brand, innovative, experiential stores, premium offerings, collaborations, and understanding of sneakerhead culture. atmos expands our global reach in the rapidly growing Asia-Pacific market, establishes a critical entry point in Japan, and allows us to benefit from an immediate scale.

    We are excited about the many opportunities we will collectively be able to capture as a result of this partnership as we continue creating significant long-term value for our shareholders, consumers, vendor partners, and employees.”

    Mr. Hidefumi, CEO, Chief Creative Officer for atmos, said, “Today atmos enters a new era, well-positioned to bring our dynamic and exciting sneakers to more people around the world. atmos was founded with a love of sneakers and a passion for innovation, and with Foot Locker as our partner, we have the opportunity to drive global growth while maintaining what makes us unique.

    We have worked with Foot Locker for years on product collaborations and partnerships, and we are excited about what is ahead as we pursue our shared passion for sneaker culture, streetwear, creativity and self-expression.”

  • Cartier unveils Oceania flagship in Sydney CBD

    Cartier unveils Oceania flagship in Sydney CBD

    French luxury Maison, Cartier, has announced a new Oceania flagship boutique in the heart of Sydney’s CBD. The flagship will be located at the 388 George Street Pavilion Building, on the corner of King Street and George Street, occupying approximately 783m2 on the Ground Floor and Level 1.

    388 George Street sits on one of Sydney’s busiest intersections on what is fast becoming the George Street Boulevard. Opening in Spring 2022, the new Cartier Oceania flagship is set to become a space of luxury reimagined.

    The contemporary landmark, with a modern architectural façade, features a custom-designed curved sandstone and translucent exterior. The Maison’s arrival at this location continues the momentum of the newly pedestrianized George Street becoming a major luxury precinct in the Sydney CBD.

    “After enjoying a longstanding presence in Australia for more than 45 years, the announcement of our new Oceania flagship marks a thrilling new chapter in the relationship between Cartier and Australians. The new Oceania flagship will merge Parisian elegance whilst paying tribute to Australia’s rich culture and natural beauty, featuring the savoir-faire and style Cartier is renowned for around the world. We look forward to welcoming our clients and offering them a unique experience full of discovery,” said Alban du Mesnil, Managing Director of Cartier Oceania.

    To celebrate the impending opening, Cartier has engaged Melbourne 3D artist Paul Milinski to animate the façade with an expression of his singular creativity. Milinski will create a unique art installation, The Australian Dreamscapes, that will evolve quarterly until the boutique opens, enlivening the streets of Sydney with a journey through Australian landscapes.

    Danny Poljak, Executive Vice President & Co-Head of Brookfield Properties, said: “388 George Street continues to set new benchmarks for the Sydney CBD and we are delighted it will now provide an anchor point for the city’s new luxury retail precinct. Cartier is one of the world’s most prestigious luxury brands and realises our vision for the retail space of this development.”

    Nicole Quagliata, Fund Manager, OIPP, said: “Cartier is a fantastic addition for 388 George Street, and we are thrilled to welcome this iconic, luxury brand to their new flagship store. The addition of Cartier to 388 George Street continues to elevate the ground plane and pavilion, bringing outstanding tenant amenity, and solidifying the building as a premium retail destination for the Sydney CBD.

    The ground plane and pavilion building was designed by architects FJMT and provides five levels of commercial and retail space, a rooftop bar and flagship retail stores including Bally and Locali. It was designed to complement the rich history of the site, incorporating a custom-designed curved sandstone and glass façade inspired by the topography of the surrounding CBD landscape.

    The property is owned and was developed by Brookfield Properties and Oxford Investa Property Partners (OIPP) as part of a $200 million transformation of the site that completed in November last year.

  • Valentino names new CEO for Southeast Asia, Australia

    Valentino names new CEO for Southeast Asia, Australia

    Valentino has named Alessandra Andreani their new CEO for Southeast Asia and Australia. Andreani will be based in Singapore, and will report to Marco Giacometti, Valentino’s chief commercial officer. The news was reported by WWD.

    In her new role, Andreani will working on growing Valentino’s presence throughout Singapore, Malaysia, Australia, and Thailand. She takes over the duties of Mika Bailey, who was general manager of Southeast Asia and Australia.

    Andreani’s resume includes stints at Prada, Marc Jacobs, and Loewe. She is just one of many hires under new Valentino CEO Jacopo Venturini who has also appointed Mitchell Bacha CEO of Greater China and Laurent Bergamo as CEO of Americas.

    While most of Valentino’s growth has been driven by China, the U.S., and the Middle East, Southeast Asia and Australia are considered new target markets for growth. E-commerce is also now pivotal to Valentino’s growth as it is for most luxury brands.

  • Hermes reopens it’s Shanghai flagship

    Hermes reopens it’s Shanghai flagship

    On 29th October 2021, Hermès is delighted to open the doors of its newly renovated store in the prestigious Plaza 66 in Shanghai. Spanning over two floors and 656 m2, the vision for this store evokes the richness of the local culture and Hermès’ connection with the city of Shanghai, creating an engaging backdrop for discovering the 16 métiers of the house.

    The new design is established with the store’s powerful façade, which now features a long window carved into its impressive stone surface to allow more natural light to filter through. The transparency of the storefront below is also improved thanks to the generous addition of windows set in a deep-green tinted glass that mingles invitingly with the mineral hues of the stone tiles.

    Transformed by the Parisian architecture agency RDAI, the interiors feature a fluid, curved layout, drawn in response to the existing volumes of the space. Distinctive architectural gestures, like the sculptural lines carved into the soaring ceilings and the rounded walls, enhance the customer path from one side of the open-plan area to the other. Throughout the store, a richly evocative colour palette of deep blue-green, burgundy, and caramel, alternating between matte and lacquer surfaces with added accents of plush velvet, are employed in an impactful way to create a sense of intimacy for each métier. Three-dimensional custom designed carpets with superimposed geometric forms in vivid, saturated colour give structure and individuality to each universe.

    From the main street side entrance, guests are greeted with an animated display of women’s silk and a generous offer of fashion accessories. On the other side of the mall, there is a wider selection of women’s silk and accessories, perfume and beauty. These two entrances include mirroring features that are hallmarks of the house: the Hermès ex-libris underfoot and the iconic “Grecques” globe lighting overhead. The hand-assembled inlaid stonework reflects the house’s savoir-faire: based on the rue du Faubourg Saint-Honoré motif, the pattern disperses before merging again on the other side of the store. The surrounding terrazzo flooring is flecked with preserved pieces of stone from the existing interior façade. Intimate corner spaces and salons on the ground floor are dedicated to the jewellery and watches, as well as the perfume and beauty métiers – fitted out in saturated blue-green tones that contrast with the hand-painted walls and cherrywood cabinetry.

    A new, sweeping staircase serves as an architectural feature and an eye-catching exploration of form that undulates. Above the stairs floats a commissioned work by Chinese artist Xiaojing Yan. The delicate sculpture, almost 2m in height, is a cloud-like vision of a horse at full gallop, crafted from over 10,000 glass pearls suspended by threads. The ascent from the first to the second floor follows a gradient, hand-painted frescoed wall that carries on through to the men’s universe and home collections on the second floor. Natural light from the new window bathes the space in a lustrous warmth and a communal table encourages guests to linger for a coffee. Arriving from the mall through a third entrance here, the line of sight travels past the home and equestrian

    collections, the leather goods, enveloped in warm and glossy tones of red and deep burgundy, through to the spacious women’s universe. Elegantly clad fitting and VIP rooms, as well as numerous lounge areas furnished with deep leather sofas and armchairs, create an inviting ambience throughout the space.

    In the tradition of establishing a distinct identity for each Hermès locale, a collection of carefully selected artwork, contemporary photography, carré prints, and works from the Émile Hermès collection seamlessly blends the past and present.

    This new Hermès store offers local customers and new visitors an utterly bespoke retail experi- ence, set in an engaging and welcoming environment. It binds the culturally vibrant essence of Shanghai with the Parisian house’s contemporary creative spirit and fine craftsmanship.

    Since 1837, Hermès has remained faithful to its artisan model and its humanist values. The freedom to create, the constant search for beautiful materials, the transmission of savoir-faire of excellence, and the aesthetic of functionality all forge the singularity of Hermès, a house of objects created to last. An independent, family owned company, Hermès is dedicated to keeping the majority of its production in France through its 51 workshops and production sites and to developing its network more than 300 stores in 45 countries. The group employs almost 17,000 people worldwide, including nearly 10,600 in France, among whom more than 5,600 are craftsmen*. Axel Dumas, a sixth-generation family member, has been Hermès CEO since 2013.

    Founded in 2008, the Fondation d’entreprise Hermès supports projects in the areas of artistic creation, training and the transmission of savoir-faire, biodiversity, and the preservation of the environment.

  • Love Bonito seals $50 million funding round expands into multiple countries

    Love Bonito seals $50 million funding round expands into multiple countries

    Love, Bonito today announced the close of its Series C funding round, raising a total of US$50Million. The round was led by Primavera Capital Group, a global investment firm whose previous investments include Alibaba, ByteDance, Yum China and Mead Johnson China. Adastria and Ondine Capital participated in the round too. Love, Bonito’s current investors include Openspace Ventures and Kakaku.com.

    Proceeds from the fundraising will enable the brand to bolster efforts in existing omnichannel markets and supercharge international expansion in markets that collectively are experiencing triple digits year-on-year (YoY) growth. These key markets include Hong Kong, Japan, Philippines and the US. Furthermore, the company is exploring categories outside of fashion as part of its plan to create a female ecosystem.

    Since its launch in 2010, Love, Bonito has achieved impressive growth, expanding into 10 key markets which include those in Southeast Asia, namely Singapore, Malaysia, Indonesia, Philippines, Cambodia, and East Asia markets, namely Taiwan, Hong Kong, Japan as well as Australia and the US.

    To date, Love, Bonito has achieved overall growth of over 120 percent YoY in international markets, and overall growth of 208 percent for its online sales. The company believes the Asian diaspora communities have extremely high potential, especially in the US, where online revenue growth exceeded 1,200 percent YoY as of September 2021.

    With the latest funding, the brand will double down efforts within markets such as Singapore, Indonesia, and Malaysia that have an omnichannel presence, while other markets such as Hong Kong, Japan, the Philippines, and the US will see an expansion in omni-channels, new business verticals, strengthening of local community engagement and key collaborations, as well as the continuous optimization of user experiences.

    “I am more excited than ever for what is to come in the next decade,” said Rachel Lim, Co-Founder of Love, Bonito. “The growth we see today would not have happened without #TeamLB and our #LBCommunity who consistently strive to support women in the different seasons of their lives. Being in the business of women has been our mission since day one, and we are finally venturing outside of fashion to bolster our offerings.”

    In line with the brand’s mission to empower the everyday Asian woman, plans are in place to increase offerings within the fashion line to include active apparel and accessories. The brand is also looking to venture into a content platform (LiBrary) as well as an exploration into new categories (LaB) which will include wellness.

    The category and product expansion strategy is informed and driven by data and community feedback garnered from several platforms, including the brand’s soon-to-be-launched artificial intelligence that delivers personalization at scale for women globally, through data and machine-learning models. Other existing platforms that contribute to the insights and knowledge gathering include:

    “We have built a strong foundation in understanding the everyday Asian woman in order to be pre-emptive in catering to her needs,” said Dione Song, CEO of Love, Bonito. “We are primed to become a true life partner for our community of women, in and beyond fashion. We have yet to see a womenswear brand from the region stand proud on the world stage amongst industry heavyweights and we want to be the first brand to achieve that, by being purpose-driven, community-focused and innovative.

    “We want to extend our heartfelt thanks to our existing and new investors who bring deep consumer investment experience and recognize the potential of the Asian consumer, both within and outside of the region,” added Dione.

    Lead investor Primavera provided a statement: “Love, Bonito has proven itself to be a one-of-a-kind, purpose-driven brand for women across all life-stages. Consumers are drawn by what the brand stands for and its mission to empower women around the world. Primavera is deeply impressed by how much the team has achieved over the last decade and looks forward to tapping into our understanding and experience in the global consumer sector to help elevate Love, Bonito to the next level. We are thrilled to join Dione and the rest of the team on this path-breaking journey.”

    Love, Bonito’s first external institutional investor, Openspace said: “From day one, we believed in what the brand could achieve as a business-led by women, for women. We are thrilled to now work alongside esteemed investors like Primavera to help write the brand’s next chapter.”

    Series B lead investor Kakaku.com added: “We are delighted to be on the global stage with Love, Bonito, and will continue to support the brand’s data and tech strategies, especially on their entry into the Japanese market.”

    In the next phase of its growth, Love, Bonito aims to shake up the fashion industry by creating a more meaningful impact on its community across all life stages. The brand is setting its sights on creating a thoughtful and well-rounded female ecosystem, supporting different facets of women’s needs within Asian countries and reaching further into the Asian diaspora communities across the globe.

  • Esprit chief exits after less than a year

    Esprit chief exits after less than a year

    Esprit CEO, president, and executive director Mark Daley has exited the company after less than a year at its helm due to personal family matters.

    “Mr Daley has confirmed that he has no disagreement with the board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the company,” the retailer announced on Thursday.

    Daley, who was previously CEO of Billy Reid and group president of Ralph Lauren’s Asia-Pacific region, was appointed to the top job at Esprit at the beginning of 2021 as part of a major restructuring at the business which had suffered from years of revenue decline.

    Daley joined as part of a shake-up that saw the departure of then-CEO Anders Kristiansen, who had been at the helm since 2018, as well as then-chief financial officer Johannes Schmidt-Schultes.

    “The board would like to take this opportunity to express its sincere gratitude to Mr Daley for his contribution to the company during his tenure of office,” Esprit said.

    William Eui Won Pak, who joined the company in September as executive director and chief operating officer, will take on the CEO position on an interim basis.

    He is a New York attorney with over a decade of experience in leading companies in the financial services and fund management industry, and also has expertise in technology, alternative energy, mining, and real estate.

    Pak is also the spouse of Esprit’s executive director and chair, Christin Su Yi Chiu.