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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.

  • Chanel takes over Capitol Centre’s massive retail space, Singapore

    Chanel takes over Capitol Centre’s massive retail space, Singapore

    Capitol Centre, located on 5-19 Jardine’s Bazaar in Causeway Bay, Hong Kong, is one of the most coveted locations for luxury retail brands. Victoria’s Secret once leased the prime location, but the lingerie brand pulled out early, leaving the 50,000 square-foot space unoccupied. However, after the opening of the Mainland and Hong Kong border, the market has seen a surge in demand for retail space, and CHANEL has now taken over the lease of Capitol Centre’s massive retail space.

    The lease signed last month by CHANEL covers the ground floor, basement, and the advertisement space on the exterior of the building, totalling approximately 19,000 square feet. The monthly rent for the space is estimated to be over HK$3 million, or roughly HK$158 per square foot, making it the largest lease transaction since the border reopening and the largest retail lease in Hong Kong in the past three years since the outbreak of COVID-19.

    The lease period is three years, from mid-May 2023 to May 2026, with an option for renewal. The annual rental cost for the space is over HK$36 million, adding up to a total of over HK$1.08 billion for the three-year lease period.

    Capitol Centre has seen many tenants over the past 20 years, including major brands such as Watsons, Fairwood, and Giordano. In 2010, the U.S. clothing chain Forever 21 secured the space with a rental amount of HK$10.8 million per month, or HKD 211 per square foot, making it the most expensive retail space in Hong Kong at the time. The rental amount was later increased to HK$13.78 million per month, or HK$269 per square foot.

    In November 2016, Forever 21 announced that it would vacate the Causeway Bay store in August 2017, and Victoria’s Secret took over the space for a rental amount of around HK$7 million per month, a significant decrease from Forever 21’s rental amount. However, Victoria’s Secret was hit by the COVID-19 pandemic and vacated the space in May 2020, with more than seven years left on its lease. After Victoria’s Secret’s departure, the space remained vacant until last year when Market Place, a supermarket chain, rented the basement for around HK$600,000 per month, or HK$86 per square foot.

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  • LVMH chief Bernard Arnault to visit China in June

    LVMH chief Bernard Arnault to visit China in June

    LVMH.PA chief Bernard Arnault is set to visit China, two sources told Reuters on Thursday, as European luxury goods makers closely track the pace of recovery of the key market following three years of COVID disruptions.

    One of the sources close to the matter said Arnault’s visit to the all-important Chinese market, which comes after high-profile visits to the country this week by JPMorgan Chase & Co JPM.NCEO Jamie Dimon and Tesla chief Elon Musk, will take place later this month.

    LVMH, home to brands ranging from Moet to Givenchy, declined to comment.

    The sources didn’t give a reason for the trip or say where in the country Arnault was likely to visit.

    The LVMH chairman and chief executive met with Chinese Commerce Minister Wang Wentao in Paris in April at the Avenue Montaigne flagship store of the group’s Christian Dior label.

    Arnault’s daughter Delphine Arnault, CEO of Dior, as well as other top LVMH executives attended the meeting, and the group pledged take part in China’s International Import Expo, which will be held in Shanghai in November.

    Chinese officials have been eager to emphasize the country is open for business since lifting lockdowns in December. The recovery has been patchy but the luxury sector has outperformed other consumer categories as wealthy consumers have maintained their spending habits on the Mainland.

    The planned visit for Arnault comes at a critical time for LVMH’s reboot of U.S. jeweler Tiffany, its largest acquisition ever, which it seeks to expand in China as part of a strategy to catch up with larger rival Cartier.

    A rebound in China helped lift LVMH’s first-quarter sales, which grew 17%.

    Executives from other luxury companies are also emphasizing China, especially as sector sales in the United States show signs of easing off of a strong, post-pandemic surge.

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  • H&M to close its Beijing flagship store in Sanlitun

    H&M to close its Beijing flagship store in Sanlitun

    Swedish fashion brand H&M announced on Sunday it would close its flagship store in Beijing’s Sanlitun area on June 11 as the lease contract is set to expire.

    Its public relations department said that the brand would later pick new locations in Beijing and other Chinese cities.

    Covering an area of over 1,200 square meters, the store is one of the largest in China. As the 200th store in China, it means a lot to the brand.

    As fashion trends and customer tastes alter constantly, changes are happening in the fast fashion industry. In addition to H&M, many fast fashion brands have adjusted their marketing strategies in China in recent years.

    For example, Zara has closed its stores in several cities in China last year, including Beijing, Shanghai, Guangzhou in Guangdong Province, and Yantai in Shandong Province. Gap, a clothing brand from the U.S., sold its business in the Chinese market to Chinese brand Baozun, which provides all e-commerce value chain services, while its sub-brand Old Navy has officially withdrawn from China in 2020.

    “The competition in the Chinese market is fierce. China’s economic development level is constantly improving, and the consumption power of its residents is also improving. In this context, the positioning of some fast fashion brands is suitable for the Chinese market,” said Wang Peng, a researcher at the Beijing Academy of Social Sciences.

    “They don’t belong to high-end brands and are less competitive in cost performance than some online brands, so their positioning is rather embarrassing,” Wang added.

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  • Japanese brand Uniqlo has decided to leave Russia after suspending its operation there last year.

    Japanese brand Uniqlo has decided to leave Russia after suspending its operation there last year.

    Japanese brand Uniqlo has decided to leave Russia after suspending its operation there last year, paving the way for a sale of the business, the Izvestia newspaper cited Russia’s deputy trade minister as saying.

    Uniqlo owner Fast Retailing suspended the clothing brand’s operations in Russia in March, 2022, joining scores of international companies, after Moscow sent troops into Ukraine in what it dubbed a “special military operation”.

    Deputy Minister of Industry and Trade Viktor Yevtukhov said the company has decided to completely leave Russia but has not yet submitted an application to the government, which means the chain has no buyer yet, Izvestia reported on Tuesday.

    “I think they can offer potential buyers their business model,” Izvestia cited Yevtukhov as saying. “The Japanese retailer will be able to offer … lease agreements, popular points of sale with the good buyers traffic and equipment.”

    Fast Retailing said in a statement its operation in Russia remains suspended, adding some stores were closed with “no foreseeable prospects to resume operations.”

    The statement said the company will continue to monitor the situation closely and make decisions accordingly.

    Tadashi Yanai, the founder of Fast Retailing, told Japanese media earlier that Uniqlo was operating 50 stores in Russia.

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  • Spanish footwear label Toni Pons opens first store in the Philippines

    Spanish footwear label Toni Pons opens first store in the Philippines

    When it comes to espadrilles, Toni Pons, a Spanish footwear company, is known as one of the pioneers in this design concept. Finally, the brand has officially opened the doors to its first official store in the Philippines at SM Megamall and Robinsons Place Manila. 

    Down the memory lane

    In 1946 Spain, Toni Pons founder, Antoni Pons Parramon, created the first traditionally-made espadrilles using jute or rubber in Osor, a small village near Girona. More than 75 years later, Toni Pons is now selling in different parts of the globe. 

    Influenced by the land where it was born, the Toni Pons brand maintains its Mediterranean character. The relaxed and carefree vibe of the region has accompanied the brand all throughout its history. The brand’s aesthetic of easy elegance and freshness is very befitting for a tropical country such as the Philippines, especially during the summer season. 

    On the Philippine market

    To make sure that there is something for everyone, the brand brings a wide array of collections in the country—from kids’ and men’s to bridal footwear. On top of that, the brand also introduced some of its other pieces such as bags and belts.  

    During the brand’s official launch last May 16, 2023 at SM Megamall, Fashion Hall, Jordin Pons, Toni Pons’ founder and president, told Manila Bulletin Lifestyle that the brand is looking forward to creating Philippine exclusive designs and incorporating local sustainable materials in the future designs. 

    “We know that the Philippine market is not new with handmade shoes, but we are not here to compete but to bring a new concept which is the espadrilles,” he said. “As a brand, we like to say that we arrive to a lot of people because we also do men’s, women’s, kid’s, and shoes for special events.”

    The event is an ode to summer as it celebrates its launch with a dance-infused fashion show. The show featured the Philippine Allstars as they strutted down the runway in their Toni Pons shoes, capping off the event with a dance number that is reminiscent of the movie musical, “Mamma Mia.” The brand is planning to open a total of 15 stores in the country by the end of the year. Last May 20, 2023, they opened a store at  The Hue Hotel Boracay.

  • Victoria’s Secret launches a World Tour – its new ‘catwalk show’

    Victoria’s Secret launches a World Tour – its new ‘catwalk show’

    It was December 2018 when the last Victoria’s Secret Fashion Show aired on CBS. A year earlier, the show garnered a billion viewers worldwide, but its size and success had blinkered the company to both the cultural shifts being brought about by a born-online generation that demanded to see itself reflected in advertising and the upstart competitors who were building inclusion into their business plans. Rihanna’s debut Savage Fenty show in the fall of 2018 made Victoria’s Secret’s reliance on an impossibly narrow conception of beauty—all razzle-dazzle push-up bras, highly exercised abs, and angel wings, along with the occasional culturally appropriative headpiece or another accessory—seem out of touch. Then there was its owner’s entanglements with alleged sex offender Jeffrey Epstein. On an earnings call in November 2019, it was official: The Fashion Show was canceled.

    In the years since, the company has undertaken a sweeping, ambitious rebrand, removing the architects of the original Fashion Show; swapping the Angels for a VS Collective that includes Megan Rapinoe, Priyanka Chopra Jonas, and Paloma Elsesser; and expanding its size range and developing the kind of products it had long neglected to make—nursing bras and mastectomy bras, for instance—because they didn’t fit its male-driven definition of “sexy.” Leslie H. Wexner, the founder of Victoria’s Secret parent company L Brands, also stepped down as Chairman and CEO, and sold his majority stake. Today, Victoria’s Secret remains the leader in the U.S. for the intimates category and on a rolling 12 month basis the brand experienced slight growth in 2022 compared to 2021.

    Now, in its biggest and most visible move yet, the brand is reinventing its annual show, producing a feature-length documentary film set to premiere in September. Though it’s a fairly radical rethink, the company is billing it as every bit as spectacular as the Victoria’s Secret Fashion Shows of old—there might even be wings.

    “There’s no need to explain ourselves anymore,” said Raul Martinez, EVP, head creative director of Victoria’s Secret, who is spearheading the project. “We’ve evolved and we’ve moved on, but it’s not that we’re leaving anything behind. We’re touching both the storytelling, which is about our advocacy and celebrating female voices, but also that full-on, fashion entertainment experience, because that was quite iconic.”

    Dubbed “Victoria’s Secret World Tour,” the new show will bring together a cast of international women creators from four cities across the globe. The “VS 20” includes filmmakers, musicians, artists, and other creatives, with a quartet of fashion designers at its center. Using Victoria’s Secret resources, London’s Supriya Lele, Lagos’s Bubu Ogisi, Tokyo’s Jenny Fax, and Bogota’s Melissa Valdes will each produce collections, the behind-the-scenes makings of which will be captured in the doc. All four narratives will come together with a filmed fashion show featuring a fifth segment of Victoria’s Secret-designed pieces.

    Margot Bowman, the London-based director that’s been trailing Supriya Lele and her team, avoided the Victoria’s Secret Runway Show in her youth. “I didn’t aspire to that experience because I knew I was excluded from it,” she said. “I was an overweight kid. But I still remember the images; for better or worse they were iconic images, powerful images. And for me, I see this as an opportunity to create a new set of images that more people can find themselves in.”

    The company was the subject of a Matt Tyrnauer documentary Angels and Demons last year that investigated its former owner’s ties to Jeffrey Epstein. And a book penned by former Business of Fashion journalists, Selling Sexy: Victoria’s Secret and the Unravelling of an American Retail Icon that is scheduled for an early 2024 release, seems poised to keep the brand’s problematic history in the news cycle. Then there’s the fact that new rivals have emerged as the company has been reimagining itself. Kim Kardashian launched Skims in 2019. It’s now valued at over $3 billion, and thanks to her influence it’s sparked a shapewear craze on the runways. Lizzo launched the rival brand Yitty last year with a tagline about “self-love and radical inner-confidence” that exemplifies how the lingerie industry is changing.

    When Victoria’s Secret announced on an earnings in March that it would be investing in a new version of its Fashion Show, the pop star took to Twitter: “This is a win for inclusivity for inclusivity’s sake,” she wrote. “But if brands start doing this only because they’ve received backlash, what happens when the ‘trends’ change again? Do the CEOs of these companies value true inclusivity? Or do they just value money?”

    Convincing people of Victoria’s Secret’s new agenda of female empowerment is where the VS20 comes in. Supriya Lele, who brings her Indian heritage to bear on her draped designs, sees synergies between her own brand and Victoria’s Secret. The VS Collective member Paloma Elsesser, whose voice can be heard in the teaser video released today, has walked Lele’s London runway. “That was one of the reasons why I felt that I can identify with some aspects of this now—previously maybe less so—but now I feel their language is becoming more and more modern,” she said. “And after meeting with the team, I understood that this was a big decision to really push this female-centered point of view forward and I felt that was a really great opportunity.” (The company won’t be commercializing Lele or the other designers’ collections, rather the World Tour is a showcase of their talents.)

    The Victoria’s Secret call took Lagos’s Bubu Ogisi by complete surprise. “To be honest, I kind of ignored it,” said the designer with a laugh. “My pieces are not really that fixated on lingerie, so I was a bit confused. But for this World Tour they’re experimenting, and the core element in my work is experimentation. So I thought, okay, it would be an amazing idea to confront how they normally create and how we can edit, modify, or change that structure.” Ogisi’s work showcases artisanal crafts from across Africa. “With this collection,” she explained, “everything is fixated on the idea of Yoruba and Edo mythology. Each person is going to be a divine being, a supreme higher entity, a quote/unquote goddess.”

    Note that Ogisi said goddess, not “sex goddess.” So, will the Victoria’s Secret World Tour be sexy? “Yes, absolutely,” said Martinez, but with a caveat. “We are looking at it through a female lens.”

    The main difference between the Victoria’s Secret Fashion Shows of old and the World Tour of 2023 would seem to be that women won’t just be objects for the delectation of viewers, they’ll be subjects too—the makers, each one with a different point of view about what’s sexy. “Obviously, there’s been a huge shift in representation, but I still think it’s rare to see women on screen presented in a recognizable way, especially in the framework of fashion,” observed Bowman, the director of the London portion of the documentary. “I just want people to watch it and be like, wow, there’s so many different ways that you can be a woman.”

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  • Skin Control launches Pore Patches

    Skin Control launches Pore Patches

    Vegan skincare brand Skin Control has rolled out a Pore Patch product into Woolworths, Big W stores and online.

    The Pore Patches absorb excess oil build-up on the nose and stops blackheads before forming. It is suitable for all skin types and can be cut to cover all nose shapes and sizes.

    A single pack comes with six individual patches and retails for $13.

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  • Estee Lauder sinks after dour 2023 outlook due to slow recovery in Asia

    Estee Lauder sinks after dour 2023 outlook due to slow recovery in Asia

    Estee Lauder Cos’s shares plunged on Wednesday after the cosmetics maker forecast weaker sales and profit for the year than previously estimated, blaming slow recovery at duty-free and travel destinations, especially in Asia.

    Global retailers have banked on improved demand out of Asia after China eased Covid restrictions last year, but Estee’s travel retail division, one of its highest-growth sectors, did not rebound as expected.

    Shares of the company hit a six-month low of US$190.30 during trading hours after Estee Lauder slashed its fiscal-year forecasts for a third time. They closed down 17 percent at $202.70.

    Estee expects full-year 2023 net sales to fall between 10 percent and 12 percent, compared with its prior forecast of a 5 percent to 7 percent decrease.

    It said while major shopping districts such as Hainan, an island in the southernmost province of China, and Korea saw more traffic, the conversion of travelers to consumers in luxury beauty lagged.

    Even though China relaxed pandemic-related restrictions, the company saw January 2023 pressured by retailers destocking due to an increase in Covid-19 cases.

    Meanwhile, European luxury companies LVMH and L’Oreal saw a rise in first-quarter sales, boosted by a rebound in Asia as China eased Covid restrictions last year.

    Barclays analyst Lauren Lieberman said in a note that Estee’s forecast was the “last thing” expected even by the Street and the company’s comments on its travel retail division in Asia raise doubt on how much “control or visibility” Estee has in sales through this channel.

    CFO Tracey Travis said in a post-earnings call Estee has seen improvement in travel retail, which includes duty-free sales at airports and shopping districts in China and Korea, through the third quarter, and the company also expects sales from the segment to rise in double digits.

    However, Travis said it’s “difficult to know” when travel in China and Korea will normalize.

    Estee’s sales also remain challenged in the US, another major market. The company’s organic sales in the Americas grew in double digits last fiscal year, but began to decline in the first quarter of 2023.

    Bernstein analyst Callum Elliott said the company’s brands skew toward older customers even as millennials and Gen-Z increase their share of beauty spending.

    According to Travis, Estee has also been challenged by the growth of smaller competitors in the beauty space.

    “We’re seeing an awful lot of indie activity in the US that has taken share gains away from the largest companies,” she said.

    Estee reported mid-single-digit growth in North America in the third quarter, while prestige beauty as a category grew more than 16 percent, according to data from Circana.

    LVMH said its US spending declined in the April earnings call, though the company noted its performance there was strengthened by brisk business at its Sephora beauty chain.

    A stronger dollar has also hurt Estee, which has sprawling global operations and convert foreign currencies into the greenback.

    Estee forecast adjusted per-share profit to fall by 50 percent to 51 percent, compared with a 27 percent to 29 percent decrease it expected earlier.

    The company beat third-quarter sales expectations, but missed profit estimates.

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  • L’Occitane’s sales soar as multi-brand strategy pays off

    L’Occitane’s sales soar as multi-brand strategy pays off

    Soaring sales in the Americas and a growing brand portfolio helped drive beauty retailer L’Occitane International’s global sales up by 17.9 percent in the year to March 31, to US$2.356 billion.

    Sales surged 80.4 percent in the region – or 62.8 percent at constant exchange rates – mainly thanks to the US performance of the group’s Sol de Janeiro brand acquired 18 months ago, and Elemis.

    In contrast, the group’s core L’Occitane en Provence brand saw sales decline 0.5 percent over the full year, despite a 0.8 percent improvement in the fourth quarter as Chinese sales rebounded after the Covid impact. The brand was hit by the closure of the Russian business and China’s retail trading restrictions.

    Elemis recorded 18.1 percent growth in the fourth quarter, to end the full year at 8.9 percent, driven by a 34 percent improvement in the US and what L’Occitane described as “outstanding e-commerce and cruise ship businesses” and a 29.2 percent boost in Asia Pacific, where the brand has been a development focus during the past year.

    Sol de Janeiro became the group’s second-largest brand during the March year, accounting for $295 million in sales after surging 267.5 percent in the fourth quarter and 135.2 percent over the 12 months. “[This was] fuelled by the highly anticipated launches of the Bum Bum Firmeza body oil, in tandem with its bestselling Brazilian Bum Bum Cream, and the Rio Radiance fragrance mist,” the company said.

    Andre Hoffmann, vice-chairman & CEO at L’Occitane, said the company is well-positioned to sustain growth during the coming year as it introduces its newer brands into new markets and channels, underlying the success of the group’s strategy to develop multiple brands.

    “We also continued to make solid progress in the ESG space having recently announced a roadmap for achieving a science-based net-zero target across all of our brands, with a focus on reaching 100 percent renewable electricity by 2025, reducing our greenhouse gas emissions by 2031 and achieving net-zero emissions by 2050.”

    The next results from L’Occitane will include the performance of Australian brand Grown Alchemist which L’Occitane announced in March it had bought to add to its growing brand line-up.

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  • Shein to launch global integrated marketplace

    Shein to launch global integrated marketplace

    SHEIN, the global e-retailer of fashion, beauty and lifestyle products, today announced the launch of its global integrated marketplace. SHEIN Marketplace, which the company introduced in Brazil last month, will launch next in the U.S. before rolling out to other global markets. The platform will host local and international third-party sellers on the SHEIN site alongside SHEIN-branded apparel products, as the company expands to meet increasing demands for product variety.

    SHEIN Marketplace will allow sellers to access SHEIN’s real-time insights and learn from the company’s on-demand production and demand measurement capabilities. Through use of this unique model for over a decade, SHEIN has been providing cost savings and competitive pricing for its customers. Sellers will further benefit from access to SHEIN’s extensive customer base, a seamless process for product fulfillment, and SHEIN’s global brand marketing and social channel exposure.

    SHEIN Marketplace sellers will agree to and be bound by SHEIN’s Marketplace Services Agreement and Policies, which include a Code of Conduct and policies and terms protecting the customer experience.

    “SHEIN is committed to delivering the best shopping experience for customers and empowering the communities where we operate while doing so,” said Sky Xu, Chief Executive Officer of SHEIN. “By bringing new sellers onto SHEIN Marketplace that are aligned with our vision of making the beauty of fashion to all, we are creating increased value for our customers while enabling local businesses to grow with us.”

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  • French jeweler Tiffany opens store in HCMC

    French jeweler Tiffany opens store in HCMC

    Luxury jewelry brand Tiffany & Co. has opened a store in Ho Chi Minh City, two years after opening its first in Vietnam in Hanoi.

    The store in District 1, which had a soft opening last week, is part of a strategy by the 186-year-old jeweler to increase its presence in Asia after being acquired by France’s LVMH in 2021.

    The store is run directly by the company as against the Hanoi one, which a distributor operates.

    According to residence and citizenship advisory firm Henley and Partners, HCMC had the ninth fastest growth rate globally in the number of millionaires last year.

    Vietnam’s biggest city saw their numbers rise by 84% to 7,700 individuals, it said in its 2023 World’s Wealthiest Cities Report.

    As of last year HCMC had 15 people with a net worth of $100 million and three billionaires.

    It is ranked the 67th wealthiest city in the world.

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  • Levi’s launches its largest Asian store yet, in India

    Levi’s launches its largest Asian store yet, in India

    Iconic denim and lifestyle brand Levi’s today announced the launch of its largest store in Asia. Situated in Bengaluru’s bustling shopping hub of Brigade Road, the store advances Levi’s direct-to-consumer strategy and expansion focus in Asia. With this store, Levi’s continues to elevate brand experience to consumers through digital innovation, unique shopper experiences and an unmatched product assortment that is catered to the local consumer.

    Spread over a total retail space of 7521 square feet, the Levi’s Brigade Road store features the brand’s cutting-edge NextGen store format and retails some of its most beloved products – from its iconic 501 ,which celebrates its 150th anniversary this year, to its classic Trucker jackets. The store will also showcase the newest range of fits for both men and women, more relaxed silhouettes in line with the latest trends, and premium collections and collaborations.

    At the store’s heart is the Levi’s Tailor Shop helmed by skilled tailoring professionals, which seeks to allow consumers to personalize their purchases, especially with self-expression being key for today’s consumers. In addition to tapping on expert alteration and restoration services, customers can further customize their Levi’s apparel through embroidery, patches, pins, and more. From reinventing existing jeans to elevating a newly-purchased pair, the Tailor Shop unlocks a spectrum of personalization for Levi’s customers looking for unique pieces tailored to their taste and expression.

    “With consumer behavior shifting in the ever-changing retail landscape, we at Levi’s continue to prioritize how we deliver our iconic products and an impactful brand experience, especially to our growing base of young, savvy consumers in India and across Asia. With this year marking the 170th anniversary of Levi Strauss & Co., the Brigade Road store – our largest in Asia – aims to be a premium one-stop shop in one of the region’s most vibrant cities. It will allow us to engage with Levi’s fans who are looking to create a style statement and connect with one of the most well-loved apparel brands in the world,”  said Amisha Jain, Managing Director & SVP, South Asia, Middle East & Africa at Levi Strauss & Co. “India, in particular, is a priority growth market for Levi Strauss & Co. “As we look to scale up our investments in Asia, the opening of the Brigade Road store signifies our commitment towards offering quality and innovation in the latest fashion to consumers in both India and the wider Asia region. ”

    The Brigade Road store in Bengaluru is yet another step in Levi’s inroads within Asia, and marks another milestone in the brand’s strategy of diversifying its business across geographies, apparel categories and distribution channels. It brings the brand closer to its goal of making its stores premium destinations worldwide by delivering premium shopping experiences to its customers across the globe.

    For the store’s launch weekend, Levi’s worked with artists Sachin Bhatt, Osheen Siva, The Doodle Mafia and public art collective, The Aravani Project to create artworks that showcase the city from past, present, and future perspectives. Delving into the city’s evolution, the artworks blend vintage and futuristic elements to capture the local culture and subtleties of the city. These designs can be customized onto the store’s Levi’s trucker jackets & t-shirts.

  • Nike launches Jordan World of Flight in Shibuya, Tokyo

    Nike launches Jordan World of Flight in Shibuya, Tokyo

    Located in the capital’s Shibuya district, close to the Harajuku trade zone and along Meiji Dori Street, the 9,200-square-foot space is a designed “as a tribute to basketball culture and Jordan Brand’s identity and heritage,” according to a press release.

    Inside, visitors will find Jordan brand footwear and apparel products across men’s, women’s and kids, as well as customizable products in the store’s ‘The Workshop’, including the AJ1 and the Renegade jacket.

    The Shibuya store will have a dedicated ‘Snkrs’ area for shoppers to pick up products from the app; ‘The Flight Lounge’, which offers an in-store space for members to immerse themselves in Jordan Brand history and basketball culture, as well as a ‘ Nike Member’ innovation center, providing an opportunity for visitors to test new offerings and experiences.

    The ‘Content Studio’ allows shoppers to film unboxings and reviews and create content to share through their social handles.

    Connecting to the region’s local culture, Jordan also commissioned local artists to present their work throughout the store. The Japan opening comes on the back of the Jordan World of Flight opening in Milan in December 2022.

    “Following the launch of Milan, Jordan World of Flight Shibuya provides another unique expression of basketball culture. Tokyo serves as the perfect backdrop, a city that is constantly pushing the edges of innovation, fashion, music and art,” said Craig Williams, president, Jordan brand.

    “Alongside a best-in-class retail assortment, World of Flight is a manifestation of the full potential of the brand. By connecting with people around the world through the values the Jumpman represents, we hope to create even deeper ties to our consumer and underline the culture that unites us all.”

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  • Superdry sells Asia Pacific IP assets to Cowell Fashion Company

    Superdry sells Asia Pacific IP assets to Cowell Fashion Company

    UK-based clothing company Superdry has agreed to sell its intellectual property (IP) assets in certain Asia-Pacific (APAC) countries to the South Korea-based Cowell Fashion Company.

    The $50 deal will enable Cowell to own and use the Superdry brand in South Korea with plans to extend it to other countries in the region, including China.

    The agreement excludes Bangladesh, India, Pakistan, Australia, Sri Lanka and New Zealand.

    Superdry will retain its IP rights both in these countries and outside the APAC region.

    As part of the agreement, Superdry and Cowell will jointly develop relevant products that are consistent with the Superdry brand.

    In the first two years after the sale, Superdry will offer support and knowledge relating to the brand to Cowell.

    Cowell will pay an additional management fee of $1m, in two payments of $500,000, for the service it receives from Superdry.

    Superdry will receive the first instalment once the deal has closed, while the second instalment will be paid a year after its completion.

    Superdry CEO and founder Julian Dunkerton said: “This agreement offers the Superdry brand a fantastic opportunity to expand its global reach, while providing additional funding to help deliver our turnaround programme in the face of the challenging consumer landscape.

    “I’m absolutely thrilled by the opportunity to work together with Cowell to create inspiring products consistent with our brand heritage and build out across the APAC market.”

    The IP assets to be sold accounted for around 1.2% of total Superdry’s sales and contributed revenue of £7.4m ($9.1m) in the 12 months to 30 April last year.

    They also generated a profit before tax of around £2.5m.

    Cowell Fashion chairman Lee Sun-seop said: “With the two companies aligned together through explosive synergy, the plan to grow Superdry into a Superbrand across Asia is an exciting proposition as long-term partners.”

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  • Spain’s Mango plans U.S. expansion after China retreat

    Spain’s Mango plans U.S. expansion after China retreat

    Chief Executive Officer Toni Ruiz said that Spanish fashion retailer Mango is focusing on U.S. expansion after turning its back on China.

    After two previous attempts failed, mango is returning to the United States to offer higher-priced clothes meant for special occasions and parties. It will target states where online sales are already strong.

    The brand is already gaining more recognition in the U.S., dressed actress Amber Valletta for the Oscars after-party on Sunday, Ruiz told Reuters.

    “Something has changed,” he said in an interview at the company’s headquarters near Barcelona. “They now have a different and better perception of European brands.”

    Mango’s U.S. relaunch began with opening a flagship store on New York’s Fifth Avenue in May 2022. That was followed by expansion in Florida. This year, it will open stores in Texas, Georgia and California.

    The company hopes to have 40 stores in the U.S. by 2024, compared with 10 at present. That would place the U.S. in its top five global markets.

    Growth will be supported by the extension of a logistics centre in Catalonia, allowing it to shift 160 million items a year to serve shops and online customers globally, the company said.

    In contrast, Mango closed its remaining two stores in China last year. It maintains four franchise outlets and online sales through Alibaba’s Tmall e-commerce platform.

    “We are divesting in China,” said Ruiz. “We find it unattractive and have decided that it is not the priority for the next three years.”

    Mango reported record sales last year, helped by selling more items at higher prices. Its biggest rival, Inditex-owned label Zara, is expected to report record sales on Wednesday, partly due to its aggressive U.S. expansion.

    The recent aggressive entry of Chinese fast-fashion brands Shein and Temu into the same market is not a concern for Mango, said Ruiz.

    “It’s not our war,” he said. “If you were fighting with these brands you would be constantly lowering prices.”

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