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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.

  • Diesel Hub concept store opens in Shanghai

    Diesel Hub concept store opens in Shanghai

    Glenn Martens may still be prepping his debut collection for Diesel, but he’s already leaving his mark on the brand. The Belgian designer, who was tapped as the Italian brand’s creative director last October, has imagined a new store concept for Diesel, an immersive branding experience in itself.

    Painted floor-to-ceiling in the brand’s signature red color, the new concept is being introduced at two temporary pop-up stores in Amsterdam and on the outskirts of Washington, D.C., at the mall Tyson’s Corner Center.

    The company said it will be extended to other pop-up units and be flanked by experiential initiatives, and the concept will also appear in the first permanent unit, called Diesel Hub, that the brand will open in Shanghai later this year.

    “This new pop-up represents a first step toward elevating the design and brand experience of Diesel, starting from its iconicity and heritage,” said Massimo Piombini, Diesel’s chief executive officer. “It is a bridge to the new permanent store concept coming at the end of the year, starting from our Diesel Hub in Shanghai.”

    Paying homage to the brand’s DNA, Martens has had a giant Diesel logo and “For Successful Living” catchphrase brushed across the spaces’ elements, including displays and shelves, which customers will be able to read in their entirety upon entering the store, giving the impression of jumping into the brand’s tag.

    Both pop-ups will carry the spring 2021 and pre-fall 2021 assortments — which were not designed by Martens. Parent company OTB, controlled by Italian industrialist Renzo Rosso, recently said the first collection designed by Martens will bow for spring 2022.

    The Paris-based Martens arrived at Diesel nine months after Piombini, previously CEO of Balmain, was named CEO at Diesel, and amid brightening prospects for the flagship property of OTB.

    Rosso has had Martens on his radar for several years and tapped him in 2018 as a guest designer of its experimental capsule series Diesel Red Tag, one year after Martens bagged the prestigious ANDAM fashion prize, of which OTB is a historical sponsor and mentor.

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  • Ferragamo flags China-driven sales rise after massive loss last year

    Ferragamo flags China-driven sales rise after massive loss last year

    Italian luxury goods group Salvatore Ferragamo said on Tuesday that China and e-commerce had boosted sales in the year so far after the COVID-19 pandemic pushed the firm to its first full-year operating loss since it listed in Milan 10 years ago.

    Deputy Executive Chairman Michele Norsa, a long-time executive brought back by the Ferragamo family last year to steer the group through the pandemic and a brand revamp, told analysts in a call that he expected sales in China to keep growing by a double-digit percentage.

    The coronavirus emergency has hit Ferragamo hard because it is geared towards traveler spending, with many shops in airports. It has also compounded the challenge of rejuvenating a brand famous for shoes worn by Hollywood stars such as Audrey Hepburn.

    Overall sales fell 33% in 2020, one of the worst performances in an industry grappling with shop closures intended to curb the pandemic as well as a lack of tourists and travelers in general.

    Several sources told Reuters late last year that the majority owners had held informal talks with investors about selling a minority stake in their holding firm. The company denied at the time that the family planned to sell a stake or had met investors.

    Asia accounting for more than half of group revenues in 2020, when turnover in the region fell 25.5%.

    The Florence-based firm said the first nine weeks of 2021 had seen a positive trend in its retail network and an 86% jump in digital sales. China and Korea are both performing strongly, it said.

    Earnings before interests and taxes (EBIT) slumped to a 62 million euro ($74 million) loss in 2020, due also to impairment charges on assets and broadly in line with analysts’ expectations. In 2019, Ferragamo made a 150 million euro profit.

    Chief Executive Micaela Le Divelec’s term expires in April, and there is speculation that management may be overhauled.

    Two sources close to the matter said on Tuesday the situation was still uncertain in that respect.

    Norsa told analysts he could not comment on possible management changes, and that a “normal process” was taking place “in continuity and harmony” ahead of the annual meeting to appoint a new board of directors.

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  • Gap mulls sale of China business

    Gap mulls sale of China business

    Apparel retailer Gap is weighing options including a potential sale of its China business, citing people with knowledge of the matter.

    The report said the Old Navy parent was working with an adviser to explore its options and has contacted prospective suitors. It added there was a possibility that Gap could also keep the business.

    The company, owner of Banana Republic and Athleta brands, said it does not comment on rumors when contacted by Reuters.

    Gap entered the Chinese market about a decade ago, betting on rising incomes in the world’s second-largest economy to boost its sales. However, it stopped selling Old Navy apparel in the country last year to sharpen its focus on North America.

    Gap’s Asian market accounts for about 5 percent of its overall net sales, according to its latest regulatory filing. The company does not break out country-specific sales.

    Shares of Gap, up 43 percent this year, rose about 1 percent in extended trading after the report.

  • Fashion giant H&M pauses placing new orders in Myanmar

    Fashion giant H&M pauses placing new orders in Myanmar

    Sweden’s H&M, the world’s second-biggest fashion retailer, said on Monday it was shocked by the use of deadly force against protesters in Myanmar and that it had paused placing orders in the country.

    Police and military have killed more than 50 people to quell daily demonstrations and strikes against a Feb. 1 military coup, according to the United Nations last week.

    H&M has around 45 direct suppliers in Myanmar, it said on its website, and has sourced in the country for seven years.

    “Although we refrain from taking any immediate action regarding our long-term presence in the country, we have at this point paused placing new orders with our suppliers,” Serkan Tanka, Country Manager Myanmar, said in an email.

    “This is due to practical difficulties and an unpredictable situation limiting our ability to operate in the country, including challenges related to manufacturing and infrastructure, raw material imports, and transport of finished goods.”

    Two protesters were killed by gunshot wounds to the head in Myanmar on Monday, witnesses said, while shops, factories and banks were closed in the main city Yangon as part of the uprising against the country’s military rulers.

    Tanka said H&M was extremely concerned about the situation in the country and that it was in dialogue with UN agencies, diplomatic representatives, human rights experts, trade unions, and other multinational companies.

    “These consultations will guide us in any future decision in relation to how we as a company can best contribute to positive developments in accordance with the will of the people in Myanmar,” he said.

    Myanmar’s garment industry is smaller than that of neighboring countries Bangladesh, China and Thailand. However, its around 600 factories are significant employers, providing jobs for around 450,000 workers in 2020, according to the Myanmar Garment Manufacturers Association.

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  • Property deal set to save Le Saunda’s bottom line

    Property deal set to save Le Saunda’s bottom line

    Hong Kong-listed shoe retailer Le Saunda says same-store offline sales rose by 13.8 percent in the February quarter after it rationalized its store network.

    In a positive profit alert issued to the Hong Kong Stock Exchange, chairman James Ngai said group sales rose 5.2 percent year on year after a net 52 stores closed in Mainland China, Hong Kong, and Macau. As at February 28, the company had 389 outlets remaining, 347 of them self-owned across the three markets, and 42 franchised on the mainland.

    The company said a preliminary review of its full-year accounts shows the company “may” have recorded a profit, which would mark a significant turnaround from a US$4.7 million loss in the prior year.

    However, that was mainly attributable to the completion of the effective sale of its former factory in Shunde, Guangdong which it closed last May, and reached an agreement with the local government to hand back for $30 million. Le Saunda made a strategic decision to discontinue manufacturing and to contract production out to third parties.

    While in-store sales are on the rise after several years of decline, Le Saunda’s e-commerce business continues to underperform, with sales down 8.4 percent year on year in the fourth quarter.

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  • Farfetch launches flagship on Tmall Luxury Pavilion

    Farfetch launches flagship on Tmall Luxury Pavilion

    Farfetch is launching a Tmall Luxury Pavilion flagship store to enable thousands of luxury brands to reach Chinese consumers as part of its localization strategy in the region.

    The integration of Farfetch on Tmall means that Alibaba Group’s 779 million consumers will have access to products from more than 3,500 luxury brands, 90 percent of which did not previously have a presence on Tmall.

    Judy Liu, managing director of Farfetch Greater China, said in a statement: “This is an important and exciting milestone in our partnership with Alibaba and creates an incredible opportunity for luxury brands to expand into the China market at a time when international travel has been curtailed and luxury customers are unable to travel to their most loved brands’ boutiques in Europe.

    “This launch is just the beginning in our partnership as we work together to help brands and retailers fully digitize their businesses online and offline through our Luxury New Retail strategy, both in China and globally.”

    The new storefront occupies a premier position on the Tmall Luxury Pavilion’s homepage with one of the five main navigation buttons and a premium permanent banner, explained Alibaba.

    To celebrate the launch, Farfetch has partnered with well-known celebrities and influencers in China to promote the storefront. There will also be social engagement campaigns and an advertising campaign across key social media platforms.

    Janet Wang, general manager of Tmall Luxury, added: “The launch of the Farfetch Tmall flagship is a very exciting moment for China’s booming online luxury market. Underpinned by Alibaba’s digital ecosystem, the Farfetch flagship store is greatly expanding the luxury product offerings to more than 779 million Chinese consumers on our platform.

    “In partnership with Farfetch, we will continually enhance our product selection, marketing strategies, and membership services for our consumers. We aim to set the standard in the industry and lead the digitization of luxury shopping.”

    The launch follows the strategic partnership between Alibaba Group, Farfetch, and Richemont announced in November 2020 to accelerate the digitization of the luxury fashion industry. The Luxury New Retail initiative aims to leverage Farfetch’s and Alibaba’s state-of-the-art omnichannel retail technologies, including a full suite of enterprise solutions powered by the two companies, to serve the needs of luxury businesses.

    These solutions will serve both mono-brand and multi-brand distribution strategies for luxury brands, including fully-connected e-commerce websites and apps, omnichannel retail technology, and access to the Farfetch and Tmall Luxury Pavilion marketplaces via a single integration.

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  • BlackPink’s Jisoo appointed as global ambassador for Dior

    BlackPink’s Jisoo appointed as global ambassador for Dior

    French luxury giant Dior has appointed Kim Ji-soo, better known to Blackpink fans mononymously as Jisoo, its new global ambassador for both fashion and beauty, the brand has announced on its social media channels.

    As part of the announcement, Dior said Jisoo was a key inspiration for designer Maria Grazia Chiuri’s autumn-winter collection, which is due to be shown online today.

    European luxury brands have been increasingly turned to Asian stars for ambassador roles, with K-pop idols proving popular with brands from Givenchy to Gucci.

    With 37 million Instagram followers, as well as an existing role working with Dior Beauty, Dior is obviously hoping the incredibly popular singer and actress will be useful in amplifying its online fashion activities in an era in which brands are forced to compete fiercely for social media attention and traction for online fashion shows.

  • UNIQLO to Launch Paul & Joe Collaboration Collection on March 29

    UNIQLO to Launch Paul & Joe Collaboration Collection on March 29

    “This collaboration with UNIQLO came about because their commitment to offering everyday clothing matches my desire to create apparel that finds favour with everyone. I also sympathised with the company’s approach to manufacturing, which pursues quality” commented Paul & Joe founder, Sophie Mechaly. “For this collection, I want people to coordinate items as they like, whether that’s by mixing plain and patterned pieces or matching patterns. I want to share the joys of spring.”

    The lineup features items in soft pastels with such motifs as chrysanthemums, characteristic of the Paul & Joe brand, and Lily of the Valley, a flower believed to bring happiness. It also presents bold designs of the brand’s iconic cats. Supplementing the UTs are such wardrobe essentials as dresses, blouses, scarves, and pochettes. There are also items for kids and babies for matching with mothers’ outfits.

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  • Aerie powers American Eagle to best first-quarter sales in three years

    Aerie powers American Eagle to best first-quarter sales in three years

    American Eagle Outfitters, Inc. (AEO) reported GAAP operating income of 4 million dollars for the fourth quarter compared to 0.5 million dollars for the same quarter last year. The company’s adjusted operating income was 106 million dollars compared to 77 million dollars in last year’s fourth quarter. Fourth-quarter GAAP EPS was 2 cents compared to 3 cents last year and adjusted EPS reached 39 cents this year compared to 37 cents last year.

    Commenting on the results, Jay Schottenstein, AEO’s Executive Chairman of the board and Chief Executive Officer commented, “After an unprecedented year, we ended 2020 on a positive note, with fourth-quarter adjusted operating income up 38 percent, driven by strong margins across brands.”

    Total net revenue decreased 22 million dollars or 2 percent to 1.29 billion dollars, while comparable sales declined 1 percent. Aerie revenue increased 25 percent to 337 million dollars and comparable sales increased 29 percent, while American Eagle revenue decreased 9 percent to 943 million dollars and comparable sales declined 8 percent. AEO’s digital revenue increased 35 percent and store revenue declined 20 percent. Aerie digital revenue rose 75 percent and AE increased 20 percent.

    The company added that gross profit of 440 million rose 8 percent and gross margin of 34 percent expanded from 31 percent last year.

    AEO’s board of directors has approved reinstating its quarterly cash dividend at 0.1375 cents per share.

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  • Foot Locker Celebrates Youth and Sneaker Culture in Hong Kong with new Store

    Foot Locker Celebrates Youth and Sneaker Culture in Hong Kong with new Store

    Foot Locker, the leading global destination for speciality athletic-lifestyle footwear, apparel and accessories, has opened a new Power Store in Hong Kong.

    The new store, located in Gala Place, Mong Kok offers visitors a unique single level destination. This is the retailer’s 6th location to open in Hong Kong –– set to bring an engaging retail experience with premium product and elevated in-store presentations to enhance customer experience. The design celebrates basketball culture with a signature multi-branded basketball collection and area dedicated to the game. The store boasts dedicated women’s and kids areas and a studio and events space, to host brand partners and local influencers (pending COVID-19 restrictions).

    With impressive footwear and apparel collections from global brand partners, including Nike, Jordan, adidas, Puma, Converse, New Balance, Under Armour and streetwear brands including Chinatown Market and Carrots, customers can expect immersive experiences and elevated product storytelling for every occasion. The store will also provide men, women and kids lines for the sneaker obsessed and provide access to the largest selection of Nike Air Max Plus (TN’s) available in market.

    Mong Kok is a neighbourhood known for its vibrant sneaker scene and is a melting pot of cultures, a place where young Hong Kong people pursue their passion and express themselves. The store features specially commissioned artworks –by four local artists Way Fung @digiway, Stanley Wong @Sneakerconcept, Brian Liu @824Hachi and Zoie Lam @Zlism, inspired by Mong Kok and its relationship to sneaker and basketball culture. It also sets the tone for how Foot Locker will tailor the store to the local community.

    Commenting on the new store, Tomas Petersson, GM and VP, Foot Locker Asia, said, “We couldn’t be more excited for our store opening in Mong Kok. This has been a dream come true to have a store in this area where sneaker-style is so inspired and alive in the streets and really around every corner. This is our 6th store opening in Hong Kong – first in Kowloon and now in this store – we can’t wait to get to know our consumers and celebrate sneaker culture together.”

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  • Foot Locker Celebrates Youth and Sneaker Culture in Hong Kong with New Store Opening

    Foot Locker Celebrates Youth and Sneaker Culture in Hong Kong with New Store Opening

    Foot Locker, Inc., the leading global destination for speciality athletic-lifestyle footwear, apparel and accessories, has opened a new Power Store in Hong Kong.

    The new store, located in Gala Place, Mong Kok offers visitors a unique single level destination. This is the retailer’s 6th location to open in Hong Kong –– set to bring an engaging retail experience with premium product and elevated in-store presentations to enhance customer experience. The design celebrates basketball culture with a signature multi-branded basketball collection and area dedicated to the game. The store boasts dedicated women’s and kids areas and a studio and events space, to host brand partners and local influencers (pending COVID-19 restrictions).

    With impressive footwear and apparel collections from global brand partners, including Nike, Jordan, adidas, Puma, Converse, New Balance, Under Armour and streetwear brands including Chinatown Market and Carrots, customers can expect immersive experiences and elevated product storytelling for every occasion. The store will also provide men, women and kids lines for the sneaker obsessed and provide access to the largest selection of Nike Air Max Plus (TN’s) available in market.

    Mong Kok is a neighbourhood known for its vibrant sneaker scene and is a melting pot of cultures, a place where young Hong Kong people pursue their passion and express themselves. The store features specially commissioned artworks –by four local artists Way Fung @digiway, Stanley Wong @Sneakerconcept, Brian Liu @824Hachi and Zoie Lam @Zlism, inspired by Mong Kok and its relationship to sneaker and basketball culture. It also sets the tone for how Foot Locker will tailor the store to the local community.

    Commenting on the new store, Tomas Petersson, GM and VP, Foot Locker Asia, said, “We couldn’t be more excited for our store opening in Mong Kok. This has been a dream come true to have a store in this area where sneaker-style is so inspired and alive in the streets and really around every corner. This is our 6th store opening in Hong Kong – first in Kowloon and now in this store – we can’t wait to get to know our consumers and celebrate sneaker culture together.”

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  • Bulgari enters Vietnam with a comeback

    Bulgari enters Vietnam with a comeback

    Italian luxury house Bulgari has opened its first brick-and-mortar store in Ho Chi Minh City, marking its comeback in the country.

    Spanning 194sqm, the Bulgari Vietnam store is located at Union Square shopping centre, featuring the brand’s full range of jewelry, including its famous Serpenti rings, bracelets and necklaces.

    Bulgari first entered Vietnam in 2014 via local distributor Imex Pan Pacific Group and operated until March 2019. In this comeback, the brand set up a member company named Bulgari Vietnam in the country for direct import and distribution.

    According to the brand’s spokesperson, Vietnam is considered as a potential market for the luxury sector due to stable economy and rapid growth. According to data company Statista, Vietnam’s luxury goods market is estimated to reach US$1.14 billion this year and achieve 7.17 per cent growth annually until 2025.

    “We believe this is a good time to bring the brand back to Vietnam,” said the spokesperson. “Overcoming current obstacles will help us to reach a potential customer base that in normal circumstances, they would shop our products overseas.”

    Due to the on-going Covid-19 situation in the country, the brand operated without any launching event.

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  • Retykle closes funding round to enable growth

    Retykle closes funding round to enable growth

    Hong Kong-based children’s clothing resale platform Retykle has closed a new round of seed funding to support its expansion plans.

    According to the company, funds raised will enable Retykle to invest within its home market of Hong Kong, as well as expanding its reach into Singapore and Australia. The investment will be used on technology development, including hiring engineers to build out personalization, a peer-to-peer marketplace and mechanisms.

    “We’ve focused on the customer experience to cultivate a love for and habit around using the platform to buy and sell which leads to a sticky customer with frequent purchases and sustained customer lifetime value,” said Sarah Garner, founder of Retykle.

    The high-profile angel investors include co-founder of Lazada Tim Rath and investor John Wood, who Room To Read and Powered By Purpose.

    “The businesses best set up for long-term success are those that pursue purpose in addition to profit,” said Wood. “Retykle’s model is great for the planet and for family finances.”

    The funding comes at a time when the Covid-19 pandemic has reportedly made it harder to source investment for startups, especially for women.

    “Recent news from TechCrunch shows that funding for women is reverting back to 2017-era levels,” said Nicole Denholder of Next Chapter Raise.

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  • Arket opens doors in Korea

    Arket opens doors in Korea

    H&M’s ‘Nordic lifestyle brand’ Arket has opened its first brick-and-mortar store in Seoul, South Korea.

    Located at Yeouido’s department store The Hyundai Seoul, the Arket South Korea store spans 8000sqft and features the brand’s collections of New Nordic design for men, women and children. The flagship store also houses an Arket cafe, offering vegetarian dishes, drinks, pastries and snacks.

    “Opening the new store in Seoul is an incredibly exciting step for us, as it is our first physical location outside of Europe,” said Pernilla Wohlfahrt, MD at Arket.

    The launch in South Korea is part of its strategy to expand its presence in Asia. Last month, the retailer announced that it will open its first brick-and-mortar store in China, at Beijing.

    Launched in 2017, the brand now operates more than 20 stores across major European cities, including Copenhagen, Amsterdam, London and Berlin.

  • Bossini warns Hong Kong landlords over Rents

    Bossini warns Hong Kong landlords over Rents

    Casual apparel retailer Bossini says it will close more stores in Hong Kong as many landlords remain unwilling to convert leases to turnover-based rents.

    The company has reported a loss of US$11.2 million for the December half after sales fell 25 percent.

    With Hong Kong and Macau accounting for 66 percent of sales in 2019, cross-border travel restrictions to both territories meant that share fell to 55 percent last year. Revenue in Hong Kong and Macau fell by 38 percent year on year.

    “The overall shop rental expenses remained at a very unreasonable level with several landlords still unwilling to provide rent concessions, despite some landlords had already switched to pure turnover-rent arrangement,” said chairman Victor Herrero in a stock exchange filing.

    “This will inevitably involve the closure of certain loss-making retail shops… We will continue to renegotiate with landlords to seek rent relief and reduction. Where landlords are reluctant to respond reasonably to our requests, we will close those shops.”

    Group revenue reached $60.3 million. Outside Hong Kong and Macau, sales rose by 2 per cent in Mainland China, but fell 9 per cent in Singapore. This was the first complete trading period not to include Taiwan, which the company exited by the end of last June.

    Looking forward, the company expects the pandemic to continue to impact its business.

    “The group’s performance is expected to remain under significant pressure for the remaining financial year with travel restrictions and social-distancing measures still largely in place,” said Herrero.

    But the company is upbeat about its ability to withstand the ongoing pressure caused by the pandemic.

    “Overall, the group is formulating and implementing strategies ranging from brand re-positioning, product segmentation and pricing, distribution channels, production and supply chain management, marketing and promotion to IT infrastructure,” he said.

    “We believe all of these would collaboratively equip us with a solid foundation and pave the way for our expansion and tap into market opportunities in the mid- to long-term.”