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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.

  • Chow Tai Fook profit rebounds as Mainland China focus pays off

    Chow Tai Fook profit rebounds as Mainland China focus pays off

    Hong Kong-listed Chow Tai Fook Jewellery Group Ltd reported a forecast-beating 108% jump in annual profit on Tuesday, thanks to one-off COVID-19 related rent concessions, an unrealised gain on gold loans and foreign exchange gains.

    China’s largest jeweller by market value said net profit surged to HK$6.03 billion ($777 million) from HK$2.9 billion in fiscal 2020. That compared to a forecast of HK$5.23 billion profit by 14 analysts, Refinitiv SmartEstimate data showed.

    It was the highest annual profit since 2014.

    A COVID-19 related rent concession amounted to HK$127.6 million as compared to HK$16.2 million in fiscal 2020, while net foreign exchange gain amounted to HK$336.4 million against HK$234 million loss in a year ago period.

    Revenue for the year to March 31 rose 23.6% to HK$70.16 billion from HK$56.75 billion a year earlier, driven by retail expansion amid improving consumer sentiment in mainland China and a softer gold price in the second half of the fiscal year.

    “As we are optimistic about the mid- to long-term growth in the mainland China market, we will focus on our mainland China’s business development in the coming future,” Chairman Henry Cheng said in a statement to the Hong Kong Stock Exchange.

    “We will continue our retail expansion strategy through penetrating into lower tier cities and leveraging franchisees’ local knowledge,” he added.

    The retail network expanded to 4,591 point-of-sales (POS) by the end of March, with a net addition of 741 POS. The company plans to add at least 700 POS in mainland China in fiscal 2022 but may close 10-15 POS in Hong Kong and Macau.

    Same-store sales surged 31.9% in mainland China but plunged 41.3% in Hong Kong and Macau as major border crossings remained closed during the period.

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  • H&M closes Shanghai flagship

    H&M closes Shanghai flagship

    H&M has closed one of its Shanghai flagship stores on the Nanjing West Road. The store, which was open for ten years, was considered a key part of the brand’s retail strategy as it was on a high-traffic shopping street.

    According to a statement made to Chinese media, H&M closed this store due to the lease ending. H&M says they will continue to review locations as business develops in China.

    Both Bloomberg and The New York Times have reported that landlords in China have forced the closure of H&M stores across the country after the controversy in late March regarding the company’s stance on using cotton sourced in China’s Xinjiang region. H&M products currently aren’t being sold on China’s top two e-commerce platforms, Tmall and JD.com.

    It’s been a tough year for H&M. In addition to taking a hit last year due to the global COVID-19 pandemic, H&M also saw a 21 percent fall in sales for Q1 2021. The company is projected to close 250 stores this year.

  • Yum! Brands buys Australian tech startup Dragontail

    Yum! Brands buys Australian tech startup Dragontail

    Fast food corporation Yum! Brands, the US parent of KFC, Pizza Hut, and Taco Bell, has purchased Australian tech startup Dragontail for US$93.5 million.

    Yum! Brands’ acquisition of Dragontail will take the startup’s emerging technologies in-house in addition to its kitchen order management and delivery software.

    According to CFO Chris Turner, the move would allow the US company to scale Dragontail’s artificial intelligence (AI) technology globally across its operations.

    “With Dragontail, we expect to tap into the power of AI to accelerate and further enhance our delivery technology capabilities, especially at Pizza Hut, and optimize the end-to-end food preparation process,” said Turner.

    Dragontail’s AI-based solution automates the kitchen workflow and incorporates it with the process of dispatching drivers, it also allows customers to track their orders. In addition, this technology can also operate with external food-delivery vendors.

    “Yum! Brands and Dragontail have been working in a fruitful collaboration for years,” said Ido Levanon, MD of Dragontail.

    “Dragontail’s board fully supports this transaction, which it considers to be an attractive opportunity for its shareholders. It will also provide Yum! Brands with innovative technology.”

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  • Abercrombie sales soar after online focus, store reopenings

    Abercrombie sales soar after online focus, store reopenings

    With social distancing becoming the new norm due to the coronavirus pandemic, consumers have taken to digital shopping, which in turn is boosting online sales. Catching up with the current trend, the majority of retailers are improving their websites and mobile apps, and omnichannel capabilities to serve customers better. One such retailer is Abercrombie & Fitch Co. ANF, which has witnessed robust digital growth over the past few months.

    Despite a sluggish top line in second-quarter fiscal 2020 owing to pandemic-induced store closures and consumers’ altered shopping habits, a solid online show provided Abercrombie with the much-needed shield. Even as stores reopened after almost seven long weeks following local health guidelines, the company continued to witness the solid online performance. Digital net sales surged 56% year over year to $386 million in second-quarter fiscal 2020, representing nearly 55% of the top line. The upside can be mainly attributed to improved traffic, higher conversion, and AUR.

    Encouraged by the spike in online demand, management has increased focus on the omnichannel shopping experience, including home delivery, buy online and pick-up in-store, buy online ship-to-store facility, same-day delivery as well as mobile app services. Notably, combined total visits to the company’s website and mobile app increased 25%. Also, app visits alone rose approximately 50% in the quarter.

    Other retailers benefiting from the sudden surge in online sales include Hibbett Sports HIBB, Gap GPS, and PVH Corp. PVH. Notably, Hibbett’s online sales advanced 212.2% year over year in the fiscal second quarter on rising in new customers. Also, Gap’s e-commerce channel recorded 95% growth during the fiscal second quarter. Moreover, PVH Corp’s e-commerce sales improved more than 50% year over year during second-quarter fiscal 2020 driven by strong online sales growth in all regions, even after the reopening of stores.

    Coming back to Abercrombie, the company reopened roughly 90% of its store base at the end of second-quarter fiscal 2020. In the United States, nearly 85% of the company’s store base opened at the end of the second quarter. The company’s entire store base opened in the EMEA region, while the APAC region had 96% of its stores open at the end of the quarter. Further, it has been making efforts to optimize store fleet to improve store productivity. So far through Aug 27, 2020, the company has closed 14 stores, while opening nine. This move will help reduce expenses by nearly $200 million this year.

    All said, we believe that strong digital growth and improved trend in reopened stores are likely to aid this Zacks Rank #3 (Hold) stock, which has lost 21.3% year to date compared with the industry’s fall of 15.7%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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  • China sales soar for Vans, Supreme parent VF Corporation

    China sales soar for Vans, Supreme parent VF Corporation

    In a year when apparel group VF Corporation experienced a 12-per-cent fall in group sales, its Greater China business saw revenue surge 24 percent, and the company has strong expectations for the new fiscal year.

    VF, which owns brands including Vans, The North Face, Timberland, Dickies, and Supreme, expects global sales to increase by around 28 percent in the new financial year as the impact of the Covid-19 pandemic on retail trading operations in North America and Europe lessens. In Asia Pacific, where it says nearly all of its stores are open and trading, the company expects to boost sales by 18 to 20 percent this year, helping it achieve US$11.8 billion in sales worldwide, compared with $9.2 billion in the year to last March. The recently acquired Supreme brand is expected to contribute $600 million of that.

    “We are incredibly proud of the results VF achieved across the Asia Pacific region throughout fiscal 2021 and the way in which we navigated the challenges posed by the pandemic,” said Winnie Ma, president, Greater China, and Southeast Asia, at VF Corporation. “Our Asia-Pacific business model transformation is well progressed and will lay the foundation for sustainable, long-term growth across the region in the years ahead.”

    While Covid-19 dented the company’s global sales for the full FY2021 year, fourth-quarter trading figures suggest the worst is behind.

    Total sales rose by 23 percent (19 percent in constant currency) to $2.6 billion. “Excluding the impact of acquisitions, revenue increased 16 percent driven by VF’s largest brands, e-commerce growth, and an increase in the APAC region, which experienced a significant negative impact from Covid-19 in the prior-year period,” the company said in a statement. However, the fourth quarter also included an extra week’s trading when compared to the previous year.

    Chairman, president, and CEO Steve Rendle said the company took actions early in the last fiscal year to protect its people and the business while maintaining investments to drive our transformation and accelerate organic growth.

    “At the same time, we took bold, forward-looking actions to spark additional growth and value creation. As a result, we are exiting this year in a position of strength with broad-based momentum across the portfolio,” he concluded.

    Adjusted operating income from continuing operations for FY2021 decreased 45 percent to $742 million, including a $34 million contribution from acquisitions.

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  • Le Saunda sales continue to fall

    Le Saunda sales continue to fall

    Hong Kong-headquartered shoe retailer Le Saunda shut down 52 stores during the year to February as it worked to mitigate falling sales in the wake of the Covid-19 pandemic.

    The embattled shoe retailer recorded a profit for the full year of US$16.6 million, although this was entirely due to material gains on the return of its former manufacturing plant at Shunde in Guangdong for which Le Saunda booked a material gain of $25.4 million. Local government grants to mitigate the impact of the pandemic added around $1.4 million to income.

    Total revenue for the year fell by 19.3 percent to US$97.2 million due to store closures and trading restrictions related to government measures to slow the spread of Covid.

    Efforts to reduce overheads across the business resulted in selling and distribution expenses falling 28.5 percent to $37.4 million. The company also managed to cut inventory by 44.1 percent year on year, some of that relating to fewer raw materials after the Shunde plant was closed.

    In a stock exchange filing, chairman James Ngai said the pandemic led to a “severe winter” for greater China’s retail industry.

    Le Saunda responded by outsourcing manufacturing, closing unviable stores, tapping into social commerce, and expanding online sales channels through the “livestream shopping” model. It launched the Le Saunda Y collection online, aimed at catering to the preferences and buying behavior of younger female consumers, and upgraded its loyalty scheme to a WeChat Mini Program.

    “During the pandemic, the group was determined to innovate, grasp the pulse of the market and introduce new elements to its brands, so as to maintain the competitive edge of its brands and its leading position in the female footwear market,” he said.

    As at the end of February Le Saunda had 297 stores (down 34) under its core branding, and 40 Linea Rosa stores (down 12).

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  • BTS stores to pop up in four Asian cities

    BTS stores to pop up in four Asian cities

    Hybe, the entertainment company behind Kpop superstars BTS, is to launch three more BTS pop-up stores across four Asian cities after success in Bangkok.

    The company said it will roll out the album-themed stores in Manila, Taipei and Singapore this year, due to the increasing demand for BTS merchandise.

    Following the launch in Bangkok earlier this month, the BTS Map of the Soul stores will be launched in Manila this week and Taipei this September. The two stores will offer products themed to the Kpop group’s hit album ‘Map of the Soul:7’.

    Meanwhile, the Space of BTS store will open in Singapore this Friday (May 28), featuring everyday items and fashion products. The store will remain open until August 15.

    “The K-pop act’s stores have made visits to fans across the globe even amid the new coronavirus pandemic,” the company said in a statement.

    The launch of BTS-themed pop-up stores follows the release of the group’s latest hit ‘Butter’ last week.

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  • H&M begins placing orders in Myanmar again after pause in wake of coup

    H&M begins placing orders in Myanmar again after pause in wake of coup

    Swedish fashion retailer H&M said on Monday it was gradually beginning to place new orders again with its suppliers in Myanmar after a temporary pause following the military coup in the country in February.

    “With our decision, we want to avoid the imminent risk of our suppliers having to close their factories which would inevitably result in unemployment for tens of thousands of garment workers,” it said in an emailed statement.

    H&M said that after due diligence, it had concluded the company had no direct links with the military in Myanmar. “We are now looking for legal guidance on how to handle any potential indirect links international companies may have.”

    The world’s second-biggest fashion retailer in March said it was shocked by the use of deadly force against protesters in Myanmar and that it had paused placing orders in the country.

    Shortly after the military seized power, it was among the 55 foreign investors in Myanmar who signed a statement committing to the country and employees there during developments of “deep concern”.

    It said on Monday it remained deeply concerned about the situation in Myanmar.

  • Victoria’s Secret, Bath & Body Works to be split into separate companies

    Victoria’s Secret, Bath & Body Works to be split into separate companies

    Lingerie retailer Victoria’s Secret and Bath & Body Works are to be demerged into two separately listed companies after parent L Brands opted not to sell the struggling apparel business.

    “Both Bath & Body Works and Victoria’s Secret are leaders in their respective markets and, as separate businesses, each will be ideally positioned to benefit from a sharpened focus on pursuing growth strategies best suited to each company’s customer base and strategic objectives,” said L Brands chair Sarah Nash.

    The board has been mulling the sale or spin-off of Victoria’s Secret for more than a year, a process that went into hiatus due to the Covid-19 pandemic. Talks were held with “multiple” potential buyers, the company said, is a process during which the company was advised by Goldman Sachs and JP Morgan.

    Neil Saunders, MD at GlobalData, described the decision as “telling”, suggesting that L Brands was not able to secure a bid that it considered compelling.

    “The divorce gives Victoria’s Secret no place to hide. Its numbers will no longer be flattered by the contribution of Bath & Body Works and its management team will be fully accountable to investors. Such accountability is no bad thing and will likely sharpen efforts to enact a genuine turnaround at the company.”

    In preliminary first-quarter results revealed along with the restructuring announcement, L Brands said it expects to record operating income of about US$570 million – $380 million from Bath & Body Works and $245 million from Victoria’s Secret.

    Nash said the company had made “significant progress in the turnaround of Victoria’s Secret business” during the past 10 months, implementing merchandise and marketing initiatives to drive top-line growth, and cutting costs, “which together have dramatically increased profitability”.

    Saunders was less bullish about the achievement saying there was “little evidence” on the surface to support claims the brand is on a pathway to recovery.

    “Last year, sales fell by 29.7 percent. Admittedly, this came against the backdrop of the pandemic, but the full-year performance was somewhat worse than that of the overall apparel market and considerably worse than rivals like Aerie. This is not to say that no progress has been made at Victoria’s Secret; however, the impact on the business has been negligible.

    “L Brands could be relying on the fact that as it enters its new fiscal year, growth rates will look very strong because they come up against soft comparatives from 2020,” he said. “However, this is a mathematical sleight of hand rather than a true indication of progress. Indeed, compared to 2019, sales will probably remain down.”

    He said creating two separate public companies makes sense given the current bull market and the move would likely create value for shareholders over time.

    “This is especially so for Bath & Body Works which, despite being the more successful of the two brands, is often overlooked and overshadowed by its less impressive sibling.”

    Meanwhile, L Brands said CEO Andrew Meslow would continue to hold his position and take the helm of Bath & Body Works after the spin-off. Victoria’s Secret CEO Martin Waters will continue to lead the new standalone business.

    Meslow said he expected L Brands to deliver a record first-quarter earnings result, driven by an exceptional performance at Bath & Body Works and a “significant improvement” at Victoria’s Secret. Final results will be revealed on May 19.

    L Brands operates 2681 company-operated specialty stores in the US, Canada, and greater China, has a further 700 franchised locations worldwide, and sells online.

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  • Tod’s unveils revamped Marina Bay Sands boutique

    Tod’s unveils revamped Marina Bay Sands boutique

    Italian fashion brand Tod’s has unveiled the new look of its boutique at The Shoppes at Marina Bay Sands, Singapore.

    Spanning about 135sqm, the Tod’s Marina Bay Sands follows the brand’s store concept with signature elements that can be found in other stores, such as silver and taupe saddle-stitched leather paneled steel vitrines and marble.

    “The boutique is linear, modern, and in line with the brand’s image worldwide,” the company said in a statement.

    Floor-to-ceiling glass doors at the entrance allow Tod’s to display its latest products with different setups. The storehouses a full selection of Tod’s bags, shoes, and accessories, including its Full Summer Collection which will be sold exclusively at the Marina Bay Sands outlet.

    Founded in 1920, Tod’s operates more than 200 stores, including large flagship stores in Europe, the US, China, Japan, Malaysia, Singapore, Hong Kong, Indonesia, and Australia.

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  • Moncler unveils Enfant boutique in Hong Kong

    Moncler unveils Enfant boutique in Hong Kong

    Moncler announces the opening of its new boutique entirely dedicated to the Moncler Enfant collection in Ocean Terminal, further strengthening its brand presence in the luxury shopping mall through the already existing flagship store opened in 2017.

    The store spans over 140 square meters, of which nearly 100 square meters dedicated to sales. The store will be divided into two areas. The front room will be finished with a mix of fine materials such as chêne fume paneling, walls covered with wooden boiserie in red, orange, yellow, and beige red colorways, smoked oak parquet, and handmade red carpets with polka dots in dark red and yellow that adorn the floor. The second room will be finished with polka dots wallpaper and handmade yellow carpets.

    Inspired by the Moncler heritage, a brand born in the mountains, a small cable car from Italy will be displayed in the store to create a more playful area, taking a step closer to the children’s world. The new premises reflect the iconic and unique Moncler aesthetics, creating the distinctive warm and welcoming atmosphere peculiar to House’s stores worldwide.

    The Moncler Enfant collection features the mini-me version of the Moncler collections, the hallmarks of which are adapted to children’s needs for practicality and flexibility as well as re-interpreted with a playful and exciting exploration of new styles and colorway

    Moncler has delved into a brighter world for the imagining of its Spring-Summer 21 Enfant Collection. The season’scolorful universe – inspired by soft spring afternoons and the joy of sport – is heightened by technical innovations and advanced fabrications that bestride the most transient of seasons with ease. Higher featherweights for the early season give way to airy layers for later in spring, with particular care given to the development of categories such as T-Shirts and trousers for a modular approach to dressing that’s totally in tune with children’s energy.

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  • Hollister teams with social media stars to launch new brand Social Tourist

    Hollister teams with social media stars to launch new brand Social Tourist

    Hollister Co., a division of Abercrombie and Fitch is building upon its successful relationship with leading social media personalities Charli and Dixie D’Amelio to launch Social Tourist, a new trend-forward apparel brand within the Abercrombie & Fitch Co. portfolio. For its initial May 20 launch, Social Tourist will be available exclusively in Hollister stores and online.

    The launch of Social Tourist marks the beginning of an exclusive, multi-year apparel agreement between Abercrombie & Fitch Co. and the D’Amelio sisters. The new brand has been imagined and inspired by Charli and Dixie’s experiences at the epicenter of social media, and also reflects Gen Z’s unique lens of living in a digitally native environment. Hollister has leveraged its pool of talent, resources, and global reach, as well as its connection to the global teen customer, to authentically bring Charli and Dixie’s vision to life.

    Working together with Hollister, Charli and Dixie have been involved in every aspect of Social Tourist, including product selection, design, branding, positioning and marketing. The family has a strong background in the apparel industry with their father, Marc D’Amelio, having over 30 years of experience in sales and design. Marc will serve as a consultant for Social Tourist.

    Social Tourist will have four distinct apparel lines: gender-inclusive items, trend pieces such as dresses and skirts, everyday essentials featuring premium basics, and swim. Each collection will include limited-edition items, with new products dropping approximately every month.

    “We’ve always loved fashion, and it’s been amazing to be so involved in this process. We feel like Social Tourist really represents both of us and explores how our generation is balancing who they are on social media with real life,” said Dixie D’Amelio. “The first product drop is all about introducing the brand to our fans, and the second drop in June reflects our individual personalities – designs that reflect Dixie’s personality are a bit edgier, with dark color palettes and patterns, where my vibe is shown through super feminine and cute styles. We can’t wait to put our vision out into the world!” added Charli D’Amelio.

    “Charli and Dixie are the quintessential example of what it’s like to grow up in the digital world, and we’ve always believed they authentically represent our teen customers’ mindset both online and in real life. We’re thrilled to unlock new opportunities for all of us beyond our co-created products, which strongly resonated with our global customers. Given the high demand, we knew we could take our relationship further,” said Kristin Scott, Global Brand President at Abercrombie & Fitch Co. “Creating a new brand virtually was no small feat, but the excitement and energy of the D’Amelio family, combined with the talent and experience of the Hollister family, has allowed us to push boundaries and make this a reality.”

    In working with Hollister since 2020, the social media stars have served as “Chief Jeanealogists,” where they tested and approved every aspect of Hollister’s denim; launched the #MoreHappyDenimDance TikTok challenge, which garnered over 5.4 billion views worldwide; and dropped a series of limited-edition, co-created collections. The sisters currently have a combined 250 million followers across their social media handles and in November 2020, Charli became the first TikTok user to surpass 100 million followers on the platform.

    Abercrombie & Fitch Co. is represented by Philip Daniels of Ginsburg Daniels Kallis and Bruce Paige of Vorys, Sater, Seymour and Pease. The D’Amelios are represented by UTA and Gary Stiffelman, Robert Kahan, and Kevin Yorn.

    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

    A&F cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained herein or made by management or spokespeople of A&F involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond the Company’s control. Words such as “estimate,” “project,” “plan,” “believe,” “expect,” “anticipate,” “intend,” and similar expressions may identify forward-looking statements. Except as may be required by applicable law, we assume no obligation to publicly update or revise our forward-looking statements.

    Risks and uncertainties related to the duration and impact of the COVID-19 pandemic on the Company and the factors disclosed in “ITEM 1A. RISK FACTORS” of A&F’s Annual Report on Form 10-K for the fiscal year ended January 30, 2021, in some cases have affected, and in the future could affect, the company’s financial performance and could cause actual results for fiscal 2021 and beyond to differ materially from those expressed or implied in any of the forward-looking statements included in this press release or otherwise made by management.

  • Havaianas has best quarter in a decade as China sales surge

    Havaianas has best quarter in a decade as China sales surge

    Havaianas’ global expansion — prioritizing Europe, China, and the U.S., in addition to Brazil — remains on a strong path. The world market leader in open footwear delivered revenue growth in all regions, including distributors. Outside Brazil, net revenues in constant currency reached R$317.9 million (~US$59.2 million) in 1Q21, climbing 27% year-over-year. Volume increased 34.3% in the period to 7.9 million pairs/pieces. At 24%, EBITDA was 16 p.p. higher than a year earlier.

    On May 3, Havaianas brand owner Alpargatas announced the acquisition of technology startup company ioasys to boost the Havaianas brand growth, with global expansion, acceleration of online sales, and extension of the product portfolio as its pillars. Acquired company ioasys has a proven track record of success in end-to-end digital solutions and a strong culture centered on user experience.

    In the so-called Big Bets, or priority markets, year-over-year growth in net revenues in constant currency reached 26% in Europe, 13% in the U.S., and 736% in China in 1Q21. All these markets also saw margin gains.

    “Havaianas is stronger than ever, inspired by people in Brazil and around the world. The brand has expanded globally, accelerated online sales, and broadened its portfolio with innovation and sustainable technologies. We take pride not only in our ability to expand revenues and profits, but also to support society in the fight against the pandemic and in socio-environmental causes. We are on the right track to capture the full potential of Havaianas,” says Beto Funari, CEO of Alpargatas, owner of Havaianas, a brand that is present in more than 130 countries. The Brazilian multinational disclosed earnings on Monday, May 3.

    After a solid performance in 2020, the company had its best first quarter in a decade, delivering expanding revenues, margins, and EBITDA. Consolidated net revenues climbed 32.7% year-over-year to R$901.3 million (~US$168 million). Recurring EBITDA totaled R$158.7 million (~US$ 29.6 million), almost double the figure seen in 1Q20. Recurring net income increased 73.3% year-over-year to R$135 million (~US$25.1 million). These results supported cash generation of R$237 million (~US$44 million), and the company ended the quarter with a financial position of R$698 million (~US$130 million).

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  • Innisfree closes all Canadian stores

    Innisfree closes all Canadian stores

    South Korean ‘naturalism-oriented’ cosmetic brand Innisfree is closing all of its Canadian stores and the company is blaming the COVID-19 pandemic. Innisfree opened its first Canadian store almost two years ago and plans were in place for a cross-Canada expansion.

    “Circumstances have changed over the past year and we anticipate that the health and safety risks of COVID-19 will be impacting our ability to deliver the right experience for the remainder of 2021 and beyond,” said Innisfree in a statement on social media. “In that challenging context, we, unfortunately, had to make the difficult decision to close all Innisfree retail stores in Canada.”

    Innisfree said its stores at the Yorkdale Shopping Centre and the Scarborough Town Centre in Toronto will both shut forever on May 8. The same statement noted that the CF Toronto Eaton Centre and CF Markville stores had already been shut. Ontario is currently in an extended retail lockdown until at least May 20.

    The Yorkdale Innisfree location was the first in Canada when it opened in August of 2019. The CF Toronto Eaton Centre location came soon after as part of the beginning of a cross-Canada expansion that never came to fruition.

    In 2020, Innisfree had planned to expand its Canadian operations by adding more stores to the Greater Toronto Area as well as markets including Vancouver. Brokers in CBRE’s Vancouver office had said that they were working with the brand on a multi-location expansion including at the Metropolis at Metrotown, and industry chatter noted that West Edmonton Mall was in line to possibly get a store as well. The mall-based expansion could have seen Innisfree open stores in most of Canada’s leading shopping centers coast-to-coast over the course of several years.

    The pandemic took the wind out of the sails for many brands expanding in the Canadian market, and Innisfree is a surprising one to announce its Canadian exit. The beautiful bright Innisfree stores were often busy with customers seeking out the brand’s popular beauty products that quickly became highly coveted as they gained consumer awareness.

    Innisfree announced in February that the brand would be available at Sephora stores in Canada as well as online. It hasn’t been confirmed if the announcement was made in anticipation of Innisfree shutting its own standalone stores. The standalone direct-to-consumer brand store model was a trend that picking up speed across the country prior to the pandemic.

    Innisfree, which operates hundreds of stores globally, is part of the Seoul-based AmorePacific Corporation, which features 33 health, beauty, and personal brands under its corporate umbrella. AmorePacific launched the Innisfree brand in 2002. The brand had several stores in the United States and had shut all of them by late 2020. The brand is carried at Sephora in the US according to Innisfree’s website.

    Innisfree’s slogan is “Clean Island, where clean nature and healthy beauty coexist happily,” and the brand is known to be eco-friendly — something sought by many consumers lately. Particularly targeting women aged in their 20’s and 30’s, Innisfree is said to be South Korea’s first all-natural brand with many of its ingredients being sourced from Jeju Island. Its products include a wide range of products for both women and men including skincare, makeup, hair and body products, fragrances, beauty tools, and sun care.

    About 80% of Innisfree’s ingredients are natural and the company says that its products are “plant-to-bottle”. The company also promotes its “green life” with activities such as reforestation efforts, recycling programs, and even an ‘eco-hankie’ to replace disposable paper products. The company donates 1% of its profits to eco-initiatives.

    Innisfree is the latest international retailer to pull out of the Canadian market, and the second beauty brand to shut since the start of the pandemic last year. We reported in November of 2020 that L’Oréal-owned NYX Cosmetics was also in the process of shutting its Canadian stores after entering the market in 2015. At the same time, we’re getting word from industry insiders that several new international brands will be entering the Canadian market by opening stores this year, and we’ll be reporting on several of these in the coming days.

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  • Zara launching beauty range

    Zara launching beauty range

    Soon, you’ll be able to wear Zara from head to toe and from face to toenails. Yesterday, the retailer unveiled Zara Beauty, the company’s first-ever comprehensive beauty collection. It will be launching online and in select stores on May 12.

    To help create a line of cosmetics that felt playful, innovative, and fresh, the brand tapped world-renowned makeup artist Diane Kendal, who regularly dreams up editorial and international runway looks we inevitably end up thinking about a lot.

    “When Zara approached me to lead the creative direction of Zara Beauty, I saw an opportunity to make something that everyone would want to use. Zara has always reached such a diverse audience, and I wanted to bring that same big vision to beauty with a collection that is clean, refillable, and accessible to all,” Kendal said in a release. “I am really proud of what we have created: an expansive array of consciously unique formulas for eyes, lips, face, and nails.”

    When Kendal says “an expansive array,” she isn’t exaggerating in the slightest. The collection is launching with over 130 colors, six lip products (matte lipstick, satin lipstick, demi-matte lipstick, tinted balm, lip oil, lip gloss), six-shade eye-shadow palettes, smaller shadow duos, a matte-black eyeliner, loose metallic pigment, bronzer, blush palettes, highlighter, 39 nail polishes, and six makeup brushes — and that’s just to start.

    To showcase the endless possibilities and combinations you can make within the world of Zara Beauty, Kendal created a series of different looks that were captured by nine different talents —Steven Meisel, David Sims, Marilyn Minter, Oliver Hadlee Pearch, Zoë Ghertner, Craig McDean, Nadine Ijewere, Mario Sorrenti, and Fabien Baron — who each shot and shared their own personal vision of beauty for the campaign.

    Scroll through to get a taste of what will be in store next week and start plotting what you’re going to add to your cart — prices will range from $8 to $26, with refills starting at $5, so you should be able to cram in a good amount.

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