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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.

  • VF Corp to relocate business operations out of Hong Kong

    VF Corp to relocate business operations out of Hong Kong

    VF Corp. (VFC), a provider of branded lifestyle apparel, footwear and accessories, announced a transformation plan for its Asia Pacific operations, with relocations over the next 12 to 18 months with the first moves expected in April 2021.

    VF plans to move the center of its brand operations from Hong Kong to Shanghai where the company currently employs approximately 900 office and retail associates.

    In addition, VF also plans to relocate its Asia Product Supply Hub from Hong Kong to Singapore.

    The company also plans to establish an additional shared services center for the region in Kuala Lumpur, Malaysia.

    VF noted that Hong Kong will remain a key retail market for the company and its brands.

    “Today’s announcement reinforces our commitment to investing in our business across the Asia Pacific region, while also supporting VF’s overall transformation plan to become a more consumer-minded, retail-centric, and hyper-digital enterprise,” said Steve Rendle, VF’s Chairman, President and Chief Executive Officer.

  • Versace Macau boutique reopens at Four Seasons

    Versace Macau boutique reopens at Four Seasons

    Versace announced the re-opening of its boutique in Macau. Situated in the upscale Shoppes at Four Seasons, the store is located at the city’s premier luxury destination. Inspired by Medusa’s hypnotic gaze, the boutique has been renovated following a new concept created by renowned architect Gwenael Nicolas.

    An impressive ceiling embellished with concentric golden louvers surrounding a three- dimensional Medusa dominates the space. Visible from every corner of the store, the mythical woman acts as an anchor, a central figure that incorporates the iconic Versace aesthetic into the interior design.

    The imposing ceiling is contrasted with neutral flooring and walls, crafted from luxurious white marble. Envisioned as exclusive, private salons, showcase areas are enriched with plush carpets and cozy blue velvet armchairs. The muted colors of the space highlight the graphic prints and exceptional fabrication of the latest Versace creations. In a further nod to brand heritage, the golden metal display constructions are enriched with Barocco-infused acanthus leaves

    The 369 square meter boutique features a curated selection of women’s and men’s ready-to-wear and accessories.

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  • Esprit appoints new leadership in latest attempt to resuscitate the brand

    Esprit appoints new leadership in latest attempt to resuscitate the brand

    Esprit has unveiled a new management team in its latest attempt to resuscitate the brand, with Mark David Daley now installed as chief executive officer.

    Daley, 56, is described by Esprit as a 30-year retail industry veteran and was most recently the ceo at the fashion brand, Billy Reid. He has held the ceo position at a number of premium companies including skin-care label Augustinus Bader, stationery goods maker Symthson of Bond Street, upscale grocer Dean & Deluca, and served as Asia Pacific president of Ralph Lauren.

    Daley cut his teeth at DFS Group where he worked for more than two decades, rising to global president of operations and business development. Daley holds bachelor’s degrees in economics and sociology from Stanford University. Daley’s installment is effective beginning Dec. 24 and he replaces Anders Kristiansen, who had been in the role since mid-2018.

    The brand also announced Wan Yung Ting as chief product development officer. Wan, 40, comes from academia, jumping from her former role as an assistant professor for the college of art and design at Beijing University of Technology. Wan previously worked at Taiwanese Far Eastern Textile Ltd., focusing on the application of functional fabrics and sports brands. Wan obtained a Ph.D. in art theory from Peking University, a master of arts in arts and cultural management from Peking University, and a Bachelor of Engineering in fiber and composite Materials from Feng Chia University. Wan’s official start date was also Dec. 24.

    Over the last decade, Esprit has quickly cycled through a number of ceo’s — including Ronald Van der Vis, Jose Manuel Gutierrez and Kristian Andersen — with each restructuring effort seeing only muted effect.

    For the year to June, the company recorded a loss of 3.9 billion Hong Kong dollars, or $515 million, widening from the 2.1 billion Hong Kong dollars the year before. Germany, its most important market, was put into bankruptcy protection this past summer, and its venture with Mulsanne Group to relaunch Mainland China was abruptly called off.

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  • Bauhaus sales tumble as store network shrinks more and faster

    Bauhaus sales tumble as store network shrinks more and faster

    Bauhaus International (0483) said same-store sales growth of its self-managed offline shops fell by 38 percent year-on-year for the three months ended December last year.

    In Hong Kong and Macau, the same-store sales performance of its self-managed retail business fell by 36 percent year-on-year.

    In non-Hong Kong and Macau, same-store sales of self-managed retail businesses fell 68 percent year-on-year.

    For the nine months ended December 2020, Hong Kong and Macau same-store sales fell by 42 percent, and non-Hong Kong and Macau fell by 40 percent from a year ago.

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  • LVMH completes $20 billion acquisition of Tiffany, replaces leadership team

    LVMH completes $20 billion acquisition of Tiffany, replaces leadership team

    LVMH Moët Hennessy Louis Vuitton SE installed new management at Tiffany & Co., as the French conglomerate seeks to place its imprint on the U.S. jeweler and steer it through the pandemic.

    LVMH executive Anthony Ledru is returning to Tiffany, where he previously oversaw North American operations, as chief executive, effective immediately. Alexandre Arnault, the son of LVMH CEO Bernard Arnault, was appointed executive vice president of product and communications. Michael Burke, the CEO of Louis Vuitton, will become Tiffany’s chairman.

    Tiffany’s current CEO Alessandro Bogliolo will depart on Jan. 22. Reed Krakoff, the chief artistic director, and Daniella Vitale, executive vice president and chief brand officer, also will leave after a short transition.

    LVMH completed its $15.8 billion acquisition of the U.S. jeweler on Thursday after months of wrangling over the price that led to both companies suing each other. Bernard Arnault threatened to pull out of the deal, arguing that the Covid-19 pandemic had harmed Tiffany’s business. In the end, he agreed to pay a 2.6% discount to the original price.

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  • Spanish Brand Desigual expanding presence in India through marketplace partnership

    Spanish Brand Desigual expanding presence in India through marketplace partnership

    Desigual had entered the Indian market last year through a partnership with retail group Tablez by opening its first concept store in Delhi.

    With this partnership, Desigual is looking to widen its presence across India with Tata Cliq’s reach and expects strong sales during the current year.

    Speaking on the collaboration, Adeeb Ahamed managing director at Tablez Group in a statement said, “The collaboration envisions bringing together Tata CLiQ Luxury’s extensive reach with Desigual’s high fashion offering, to deliver a seamless shopping experience for the fashion-conscious Indian consumer.”

    Gitanjali Saxena business head at Tata Cliq Luxury added, “With this addition, we are able to provide the savvy, global Indian with a truly international shopping experience – one that is focused on quality, authenticity, and thoughtfulness.”

    Desigual is an international fashion brand that was established in Barcelona in 1984. The company is currently present in nearly 90 countries through 10 sales channels, over 500 branded stores, and six product categories.

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  • China buoys Tiffany & Co holiday sales

    China buoys Tiffany & Co holiday sales

    U.S. jeweler Tiffany & Co said it reported record sales for the 2020 holiday period as consumers stuck at home shopped more online and shoppers in China spent more on jewelry.

    The company, which will soon be bought by France’s LVMH , said its overall preliminary net sales rose about 2% for the period Nov. 1 through Dec. 31, compared with a year earlier, with e-commerce sales surging more than 80% during the period.

    The 2020 holiday season was unusual as the virus outbreak upended shopping patterns, with more consumers avoiding malls and retail stores and opting to shop online.

    Tiffany, known for its engagement rings and robin’s egg blue boxes, said net sales in the Asia-Pacific region soared 20%, with mainland China posting a growth of over 50%.

    “During this period, we saw the Chinese Mainland market continue to drive our overall sales growth,” Chief Executive Officer Alessandro Bogliolo said.

    However, net sales in Americas and Europe declined as it lost out on some crucial in-store sales in certain markets.

    Last week, Tiffany’s shareholders overwhelmingly voted in favor of LVMH’s $15.8 billion deal, about $400 million lower than the European luxury giant’s first offer.

  • Asics shutters New York flagship as Covid plagues business

    Asics shutters New York flagship as Covid plagues business

    Japanese sporting goods maker Asics closed down its New York flagship store in December amid the prolonged impact of the COVID-19 pandemic, the company announced on Monday.

    The store opened in December 2017 on Fifth Avenue, selling running shoes and sportswear. Asics’s decision comes as high rent bites the company, on top of uncertainties around when the pandemic will end.

    Due to the store’s closure, the sports brand is taking an extraordinary loss of about 2.3 billion yen ($22 million) for the fiscal year ended December 2020. The loss is already included in the latest earnings forecast.

    Asics’ sales in North America declined by 19% between January and September 2020, compared to the same period in 2019. The company is expected to take a net loss of 17 billion yen in fiscal 2020. Sales are forecast to decline by 15% to 320 billion yen.

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  • Third Sephora Hong Kong getting ready to be opened

    Third Sephora Hong Kong getting ready to be opened

    Located at the K11 Art Mall in Tsim Sha Tsui, the 265 square meter store will be Sephora’s first location in Kowloon, marking a new milestone in Sephora’s business expansion in the region.

    Due to open its doors in early January 2021, the new Sephora K11 Store will offer an unparalleled shopping experience with a comprehensive mix of 65 brands with numerous market most loved and exclusives such as Drunk Elephant, SUNDAY RILEY, Supergoop!, Mario Badescu, Pixi, First Aid Beauty, Cha Ling L’esprit du Thé, FRESH, and HERBIVORE BOTANICALS in Skincare; Fenty Beauty, tarte, Huda Beauty, IT Cosmetics, Benefit Cosmetics, and Urban Decay in Makeup; Olaplex, Briogeo, Ouai, Christophe Robin, KRISTIN ESS, IGK, and GHD in Haircare; as well as Maison Margiela and LOEWE in Fragrance. Last but not least, Sephora’s own brand Sephora Collection that covers the key categories.

    The new store will also offer testers and product display for some Online Exclusives including The Ordinary, Dr. Dennis Gross, Dear Dahlia and Natasha Moor.

    With an additional store in the market, Sephora will continue to expand its local beauty community through its exclusive Beauty Pass membership programme designed to offer the latest beauty news and special perks and offers to its members.

    Sephora is thrilled to the opening of its first store in Kowloon by indulging the local community with a unique and interesting beauty experience through a customized virtual game titled “SEPHORA SHAKE OFF” at their store front in K11 Art Mall. Kicking off on December 24th, “SEPHORA SHAKE OFF” presents numerous beauty perks and delights with a series of amazing prizes guaranteed to perk up everyone’s holiday spirit!

    To launch “SEPHORA SHAKE OFF” game, players simply need to scan a QR code with their smartphones and need to work their arm muscle by shaking their phones throughout it. Starting with a choice between a Day or Night look, the player(s) will be taken on a virtual shopping spree featuring some of Sephora’s best-selling items from its skincare, make-up and hair-care range with an objective to collect as many items as possible by shaking as fast as one can.

    Upon completion of the shopping spree, players will proceed to beautify a virtual avatar with their look of choice, again through shaking their phones in order to complete the look as fast as possible. The final beauty look will be revealed along with the resulting beauty ranking achieved, determining the player(s)’ prize ranging from Beauty Bae, Beauty Enthusiast, Beauty Expert, and to the top rank of Beauty Master. The various prizes consist of star products from top brands including Drunk Elephant, FRESH, Estée Lauder, Sephora Collection and many more.

    As an extension to the two existing Sephora stores in Hong Kong, the design of the new K11 store echoes the same sense of modernity and vibrant energy through its interior elements. An exclusive feature to the K11 store is the Beauty Shout-Out kiosk which is outfitted with a screen featuring key bestsellers and video submissions from the local Sephora Community which offers user-generated content and genuine recommendations of products and services available at Sephora. Also on showcase at the Beauty Shout-Out is a selection of the latest must-haves and testers for trials, as well as a magnetic wall for customers to create their own Sephora photo opportunity.

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  • 6ixty8ight opens first franchised store in China

    6ixty8ight opens first franchised store in China

    Hong Kong-based lingerie and fashion label 6ixty8ight has opened its first franchise store in Mainland China.  The 6ixty8ight franchised store is located at Daruncheng Shopping Centre in Henan, its first brick-and-mortar outlet in the province, and spans about 153sqm. It features6 a full range of lingerie, nightwear, loungewear, apparel and accessories.  According to the company, the franchising model is part of 6ixty8ight’s expansion strategy to reach more customers in Asia.

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  • Esprit loses CEO, CFO as board moves head office function back to Hong Kong

    Esprit loses CEO, CFO as board moves head office function back to Hong Kong

    Esprit Group has announced that its CEO Anders Kristiansen and chief financial officer (CFO) Johannes Schmidt-Schultes are both exiting the company next year.

    Kristiansen, who was formerly managing director of New Look, has been at the helm of Esprit since June 2018 and has led the group’s restructuring process during what the company describes as an “extremely difficult” period. He has resigned with immediate effect as an executive director and will remain group CEO until 28 February.

    Similarly, Schmidt-Schultes, who joined in October 2019, has stepped down with immediate effect as an executive director and will also stay on as CFO until 28 February.

    It comes after Esprit’s major shareholder, North Point Talent Limited, in July called for Kristiansen and Johannes Schmidt-Schultes to step down.

    Esprit said Friday that both Kristiansen and Schmidt-Schultes were exiting the company to pursue other business commitments and that they left having “no disagreement with the board”.

    Additionally, Christin Su Yi Chiu has been appointed as a member of the Risk Management Committee of the board, with immediate effect.

    “The board would like to take this opportunity to express its sincere gratitude to Mr. Kristiansen and Dr. Schmidt-Schultes for their valuable contribution to the company during their tenure of office,” Esprit said.

    Esprit Group, which is listed on the Hong Kong stock exchange, said it now plans to relocate its management to Hong Kong.

    Esprit applied for Protective Shield Proceedings for its German subsidiaries back in March after taking a hit from Covid-19 and temporary store closures in Europe and Asia.

    Fast forward to July, and the company announced it would cut 1,100 jobs in Germany as it looked to close around half of its stores in the country.

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  • Julian Dunkerton made permanent Superdry CEO amid board reshuffle

    Julian Dunkerton made permanent Superdry CEO amid board reshuffle

    Superdry has undergone a boardroom reshuffle that entailed the appointment of a new chief operating officer, the resignation of its chairman, and making co-founder Julian Dunkerton chief executive on a permanent basis.

    Dunkerton, who also holds a 20 percent stake in the fashion retailer, was first appointed interim chief executive after a boardroom battle last year that saw Euan Sutherland being ousted from the business.

    Dunkerton’s return as chief executive on a permanent basis comes as his interim contract was due to expire in April next year.

    His remit includes delivering the strategic plan across Superdry’s product, brand, and distribution channels, focusing on sustainability.

    Superdry also hired Silvana Bonello as a chief operating officer, effective from March 1 next year. She will report directly to Dunkerton.

    Bonello’s previous roles include 18 years spent at Nike in numerous senior operational and strategic positions in the US and The Netherlands, and most recently she was operations vice-president for Vans EMEA.

    As Superdry’s new chief operating officer, she will be responsible for enhancing operations and planning processes, covering merchandising, logistics, IT, business transformation, sourcing processes, and corporate strategy.

    Meanwhile, the fashion retailer confirmed that Peter Williams has decided to step down from the board and his role as chairman next year once a replacement is found.

    Williams was first appointed to the role in April 2019 to aid Dunkerton’s return to Superdry.

    The retailer added that the search for a new chief financial officer was still underway.

    “Since rejoining the business last year, Julian has been driving forward the transformation of the business and resetting the Superdry brand with the launch of the AW20 range in the most challenging of times,” Williams said.

    “There remains much to do – particularly against this current backdrop – and so we are also pleased to strengthen the team further with the appointment of Silvana as COO. She brings a wealth of relevant operational and strategic experience to Superdry.

    “I joined Superdry as chairman with a clear goal of ensuring a smooth transition following the change of management last year.

    “I am proud of the progress we are making to stabilize the business and reset the Superdry brand since last April.

    “Julian and Silvana’s appointments are among the last steps in putting the right team together to secure the turnaround of the business.

    “With the search for a new CFO well advanced, the completed executive team will be in place early next year and so 2021 is an appropriate time for me to step down.”

    Dunkerton said: “With Silvana joining the executive team, we now have the right operational leadership to steer the business through these most uncertain times and drive the brand reset as we seek to inspire our customers with design-led, sustainable product and engage with them through our digital channels.

    “Peter has been a key figure in getting Superdry back on track, and a great support to me and colleagues in the business over the past 18 months.

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  • Denim brand Wrangler set the open stores in China

    Denim brand Wrangler set the open stores in China

    The global pandemic led Kontoor Brands to delay its initial plans to launch Wrangler in China earlier this year, but the day has finally come for the heritage brand.

    Kontoor announced Thursday that it has expanded Wrangler’s international reach to China by taking a digital-first approach. The initial product offering is available for consumers through Alibaba Group’s Tmall e-commerce site.

    Since becoming an independent, publicly-traded company in May last year, Kontoor has identified China as a key area of focus for its international expansion strategy. The company’s other heritage brand, Lee, has been in the region for 25 years, according to Bloomberg.

    Last fall, Kontoor Brands president and CEO Scott Baxter said Wrangler’s debut in China was on track for Q1 2020. The launch, however, was postponed shortly after Covid-19 began to spread around the world. At the time, Baxter pinpointed Fall 2020 as a time “we can more effectively optimize our go-to-market strategies, our interactive consumer engagement and better leverage our demand creation spent.”

    “One of Kontoor’s core strategic priorities includes expanding to new markets and geographies. Launching our iconic Wrangler brand in China, one of the fastest-growing consumer markets in the world is a key step toward that effort,” Baxter said. “As part of Kontoor Brands, the Wrangler brand is leveraging the collective experience that helped establish Lee as one of the leading denim brands in the Chinese market. This announcement marks an exciting milestone in the brand’s 70-plus year history.”

    Wrangler celebrated the launch with activation at Innersect, a multi-day consumer streetwear event in Shanghai. The event choice is indicative of where Kontoor sees an opportunity for Wrangler in China: among tech and pop-culture-savvy young consumers.

    “We’ve reimagined the adventurous optimism of Wrangler’s cowboy spirit for the Chinese market, developing a brand platform designed to resonate with China’s youth and young at heart,” said John Gearing, Kontoor Asia Pacific vice president and general manager.

    Kontoor plans to expand the product selection in Spring 2021 and launch additional consumer activations.

    “We are building awareness and demand for the brand through our initial digital product offerings,” Gearing added. “In the coming months, we will accelerate our focus on creating engaging and innovative experiences designed to introduce Wrangler’s best-in-class apparel products to the Chinese consumer.”

  • British retailer Next, US investor plan joint bid for Arcadia

    British retailer Next, US investor plan joint bid for Arcadia

    Fashion retailer Next is in talks with American investment firm Davidson Kempner Capital Management for a joint bid to gain control of Arcadia fashion group, which collapsed into administration last month, Sky News reported on Friday.

    The two companies were “likely, but not certain” to bid for Arcadia ahead of a revised deadline next Monday, the Sky News report added, citing sources.

    Under the plans being discussed, Davidson Kempner would provide the majority of the funding required to complete a takeover, Sky News reported.

    Next and Davidson Kempner Capital Management did not immediately respond to requests for comment.

    Arcadia’s collapse into administration in November put over 13,000 jobs at risk, with the company becoming one of the UK’s biggest corporate casualties of the COVID-19 pandemic.

    The fashion group, whose brands include Topshop, Topman, Dorothy Perkins, Wallis and Miss Selfridge, trades from 444 leased sites in the United Kingdom and 22 overseas.

    The Daily Telegraph earlier this month reported Authentic Brands was planning a takeover of Arcadia Group, which had declined sportswear group Frasers’ offer of a “lifeline” loan of up to 50 million pounds.

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  • H&M sales dampened by second Covid-19 wave

    H&M sales dampened by second Covid-19 wave

    H&M said its net sales were down by 10% year-on-year in the fourth quarter, as a direct result of the coronavirus pandemic’s second wave. Shares ticked 0.14% lower on Tuesday morning in Stockholm.

    The world’s second-largest global clothing retailer said the first wave of the pandemic hit it the hardest, impacting its Q2 results due to “extensive social restrictions involving temporary store closures and large drops in customer footfall to physical stores.”

    It managed to gain some momentum in the third quarter, but “the recovery transitioned into a new slowdown as a result of the pandemic’s second wave.”

    For the 2020 financial year, net sales decreased by 18%.

    The group’s net sales were 52.5bn Swedish crowns ($6.2bn, £4.7bn) in Q4, down from 61.7bn Swedish crowns a year earlier.

    Its full-year report for the 2020 financial year will be published 29 January 2021.

    Meanwhile, rival Inditex, owner of Zara, posted a 14% fall in sales in the three months from August to October.

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