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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.

  • 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.”

  • Kering invests in resale platform Vestiaire Collective

    Kering invests in resale platform Vestiaire Collective

    French luxury group Kering has taken a 5 percent stake in Vestiaire Collective, a leading platform for second-hand clothes and handbags, betting that the booming resale market will help it woo younger and more environmentally conscious shoppers.

    The purchase is part of a 178 million euro (US$215 million) financing round announced on Monday which valued Vestiaire Collective at more than US$1 billion, the companies said.

    U.S. investment firm Tiger Global Management also invested in the platform, while existing shareholders including Vogue publisher Conde Nast and French private equity firm Eurazeo put more money in.

    The pre-owned fashion market has enjoyed rapid growth over the last three years, with a further acceleration during the coronavirus pandemic, thanks to younger shoppers’ heightened focus on sustainability and also homebound consumers looking for good deals on second-hand clothes.

    “There is a real shift happening that is going to shape the future of the fashion industry, and as a leader, in the sector, we want to shape that trend,” Kering’s digital chief Gregory Boutte told reporters.

    The proportion of secondhand pieces in closets is predicted to grow from 21% in 2021 to 27% in 2023, with the value of the sector estimated to be worth over $60 billion by 2025, the companies said in a statement. Paris-based Vestiaire Collective said its transaction volume doubled in 2020.

    Luxury groups have traditionally been wary of secondhand sellers, which weaken their control over the distribution and pricing of their brands and, according to critics, can help spread counterfeit goods. But that is changing, and Kering’s star brand Gucci last year announced a partnership with U.S.-based resale platform The RealReal.

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  • LVMH’s shuttered Thomas Pink brand to be revived

    LVMH’s shuttered Thomas Pink brand to be revived

    British shirt-maker Thomas Pink is set to be revived after former JD Sports executive Nick Preston acquired the brand.

    According to the Mail on Sunday, Nick Preston has brokered a deal to take control of LVMH’s shirtmaker brand, including its intellectual property but not its website or shops.

    The retailer ceased operations last year amid the Covid-19 pandemic, as LVMH Group was seeking to sell the brand. Last December, the French luxury group removed Thomas Pink from its “Fashion and Leather Goods” website page.

    According to Retail Gazette, Thomas Pink updated its own website last month, saying “We’re excited to announce that we’re returning to our roots with the same team that has helped build Thomas Pink Shirtmakers over the years”.

    “We have some things to iron out and button-up, but will be back soon with an improved website to offer you the highest quality English shirting made for modern life that you have come to know and love.”

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  • Bvlgari makes Vietnam comeback

    Bvlgari makes Vietnam comeback

    Italian luxury brand Bvlgari has returned to Vietnam and opened its first store in HCMC.

    The store opened in a shopping mall in District 1, HCMC, in February but without a formal opening ceremony due to the Covid-19 outbreak and official orders not to congregate in large numbers.

    The brand is known for its Bvlgari Serpenti jewelry and watches, the B.Zero1 Jewellery collection and Octo Finissimo watches.

    Some of its products cost more than €25,000 ($30,180).

    The brand used to be sold in Vietnam through a local distributor, Imex Pan Pacific Group, until March 2019. In October that year, it established a subsidiary in the country.

    A Bulgari Vietnam spokesperson told VnExpress it returns to Vietnam due to the potential of the market owing to rapid urbanization and economic growth.

    It is the right time to return since “we will be able to approach our potential customers, who usually buy luxury products when traveling to foreign countries,” the spokesperson said.

    According to the market and consumer data provider Statista, the Vietnamese luxury goods market is expected to be worth $1.14 billion in 2021 and grow at 7.17 percent annually until 2025.

    Bvlgari, founded in 1884 sold a majority stake in 2011 to French luxury group Moët Hennessy Louis Vuitton.

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  • Giordano opens largest retail store in Indonesia’s

    Giordano opens largest retail store in Indonesia’s

    Apparel retailer Giordano has unveiled a large-scale store in the newly opened Bumi Raya City Mall in Pontianak, Indonesia.

    Located on the mall’s first floor, the Giordano store spans 2300sqft and offers a complete range of men’s, women’s and children products.

    “This is our second store in Pontianak, which is one of the most culturally diverse cities in Indonesia and the entrance to Singkawang, the renowned ‘city of a thousand temples,” said Patrick Yeo, president director of Giordano Indonesia.

    Opened last month, Bumi Raya City Mall is home to more than 190 brands, including a host of international retailers and flagship stores. Bumi Raya City Mall is also the first family lifestyle mall to open in Pontianak.

    Founded in 1981, Giordano operates more than 2100 stores and counters in Greater China, South Korea, Southeast Asia, Australia, India and the Middle East.

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  • Uniqlo dethrones Zara as most valuable fashion business

    Uniqlo dethrones Zara as most valuable fashion business

    Japanese retail conglomerate Fast Retailing, which owns and operates Uniqlo, is now the most valuable fashion retailer in the world, outstripping Zara’s parent company Inditex.

    Fast Retailing reached a market value of $103 billion last week, eclipsing the Spanish firm for the first time, which sits around $99 billion.

    The business’ focus on the Asia Pacific market, which has seen regions such as China and Australia weather the storm of the pandemic relatively well and, and on casual wear, which has seen a spike in relevance due to the ongoing working-from-home arrangements many workers find themselves in, has helped to deliver the growth needed to dethrone Inditex.

    The business was named the biggest apparel brand in China last year after achieving record revenue of $4.8 billion during FY19, and with China projected to overtake the US as the world’s leading apparel market according to GlobalData, Uniqlo is in a strong position for further growth.

    The difference between Uniqlo and other ‘fast-fashion’ brands is that it places an emphasis on quality than quantity, and makes clothing that is simple – with most of its range being fairly devoid of patterns and logos.

    “We don’t chase trends. People mistakenly say that Uniqlo is a fast-fashion brand. We’re not. We are about clothing that’s made for everyone,” Uniqlo chief executive Tadashi Yanai said, according to Forbes.

    “People will select clothes that are comfortable to wear as working clothes, as well as in their home. There will be no need for clothes that are worn for a year and then are discarded.”