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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.

  • Foot Locker promises strong growth for Atmos as takeover completed

    Foot Locker promises strong growth for Atmos as takeover completed

    Foot Locker, the New York-based specialty athletic retailer, today announced that, through certain subsidiaries, it has completed the acquisition of atmos, a digitally-led, premium, global retailer headquartered in Japan, for $360 million, subject to certain customary adjustments.

    Richard Johnson, Chairman and Chief Executive Officer of Foot Locker, said, “We are delighted to officially welcome atmos’s iconic founder, Hidefumi Hommyo, and the entire atmos team to the Foot Locker family. We deeply value atmos’s unique brand, innovative, experiential stores, premium offerings, collaborations, and understanding of sneakerhead culture. atmos expands our global reach in the rapidly growing Asia-Pacific market, establishes a critical entry point in Japan, and allows us to benefit from an immediate scale.

    We are excited about the many opportunities we will collectively be able to capture as a result of this partnership as we continue creating significant long-term value for our shareholders, consumers, vendor partners, and employees.”

    Mr. Hidefumi, CEO, Chief Creative Officer for atmos, said, “Today atmos enters a new era, well-positioned to bring our dynamic and exciting sneakers to more people around the world. atmos was founded with a love of sneakers and a passion for innovation, and with Foot Locker as our partner, we have the opportunity to drive global growth while maintaining what makes us unique.

    We have worked with Foot Locker for years on product collaborations and partnerships, and we are excited about what is ahead as we pursue our shared passion for sneaker culture, streetwear, creativity and self-expression.”

  • Cartier unveils Oceania flagship in Sydney CBD

    Cartier unveils Oceania flagship in Sydney CBD

    French luxury Maison, Cartier, has announced a new Oceania flagship boutique in the heart of Sydney’s CBD. The flagship will be located at the 388 George Street Pavilion Building, on the corner of King Street and George Street, occupying approximately 783m2 on the Ground Floor and Level 1.

    388 George Street sits on one of Sydney’s busiest intersections on what is fast becoming the George Street Boulevard. Opening in Spring 2022, the new Cartier Oceania flagship is set to become a space of luxury reimagined.

    The contemporary landmark, with a modern architectural façade, features a custom-designed curved sandstone and translucent exterior. The Maison’s arrival at this location continues the momentum of the newly pedestrianized George Street becoming a major luxury precinct in the Sydney CBD.

    “After enjoying a longstanding presence in Australia for more than 45 years, the announcement of our new Oceania flagship marks a thrilling new chapter in the relationship between Cartier and Australians. The new Oceania flagship will merge Parisian elegance whilst paying tribute to Australia’s rich culture and natural beauty, featuring the savoir-faire and style Cartier is renowned for around the world. We look forward to welcoming our clients and offering them a unique experience full of discovery,” said Alban du Mesnil, Managing Director of Cartier Oceania.

    To celebrate the impending opening, Cartier has engaged Melbourne 3D artist Paul Milinski to animate the façade with an expression of his singular creativity. Milinski will create a unique art installation, The Australian Dreamscapes, that will evolve quarterly until the boutique opens, enlivening the streets of Sydney with a journey through Australian landscapes.

    Danny Poljak, Executive Vice President & Co-Head of Brookfield Properties, said: “388 George Street continues to set new benchmarks for the Sydney CBD and we are delighted it will now provide an anchor point for the city’s new luxury retail precinct. Cartier is one of the world’s most prestigious luxury brands and realises our vision for the retail space of this development.”

    Nicole Quagliata, Fund Manager, OIPP, said: “Cartier is a fantastic addition for 388 George Street, and we are thrilled to welcome this iconic, luxury brand to their new flagship store. The addition of Cartier to 388 George Street continues to elevate the ground plane and pavilion, bringing outstanding tenant amenity, and solidifying the building as a premium retail destination for the Sydney CBD.

    The ground plane and pavilion building was designed by architects FJMT and provides five levels of commercial and retail space, a rooftop bar and flagship retail stores including Bally and Locali. It was designed to complement the rich history of the site, incorporating a custom-designed curved sandstone and glass façade inspired by the topography of the surrounding CBD landscape.

    The property is owned and was developed by Brookfield Properties and Oxford Investa Property Partners (OIPP) as part of a $200 million transformation of the site that completed in November last year.

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  • Valentino names new CEO for Southeast Asia, Australia

    Valentino names new CEO for Southeast Asia, Australia

    Valentino has named Alessandra Andreani their new CEO for Southeast Asia and Australia. Andreani will be based in Singapore, and will report to Marco Giacometti, Valentino’s chief commercial officer. The news was reported by WWD.

    In her new role, Andreani will working on growing Valentino’s presence throughout Singapore, Malaysia, Australia, and Thailand. She takes over the duties of Mika Bailey, who was general manager of Southeast Asia and Australia.

    Andreani’s resume includes stints at Prada, Marc Jacobs, and Loewe. She is just one of many hires under new Valentino CEO Jacopo Venturini who has also appointed Mitchell Bacha CEO of Greater China and Laurent Bergamo as CEO of Americas.

    While most of Valentino’s growth has been driven by China, the U.S., and the Middle East, Southeast Asia and Australia are considered new target markets for growth. E-commerce is also now pivotal to Valentino’s growth as it is for most luxury brands.

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  • Hermes reopens it’s Shanghai flagship

    Hermes reopens it’s Shanghai flagship

    On 29th October 2021, Hermès is delighted to open the doors of its newly renovated store in the prestigious Plaza 66 in Shanghai. Spanning over two floors and 656 m2, the vision for this store evokes the richness of the local culture and Hermès’ connection with the city of Shanghai, creating an engaging backdrop for discovering the 16 métiers of the house.

    The new design is established with the store’s powerful façade, which now features a long window carved into its impressive stone surface to allow more natural light to filter through. The transparency of the storefront below is also improved thanks to the generous addition of windows set in a deep-green tinted glass that mingles invitingly with the mineral hues of the stone tiles.

    Transformed by the Parisian architecture agency RDAI, the interiors feature a fluid, curved layout, drawn in response to the existing volumes of the space. Distinctive architectural gestures, like the sculptural lines carved into the soaring ceilings and the rounded walls, enhance the customer path from one side of the open-plan area to the other. Throughout the store, a richly evocative colour palette of deep blue-green, burgundy, and caramel, alternating between matte and lacquer surfaces with added accents of plush velvet, are employed in an impactful way to create a sense of intimacy for each métier. Three-dimensional custom designed carpets with superimposed geometric forms in vivid, saturated colour give structure and individuality to each universe.

    From the main street side entrance, guests are greeted with an animated display of women’s silk and a generous offer of fashion accessories. On the other side of the mall, there is a wider selection of women’s silk and accessories, perfume and beauty. These two entrances include mirroring features that are hallmarks of the house: the Hermès ex-libris underfoot and the iconic “Grecques” globe lighting overhead. The hand-assembled inlaid stonework reflects the house’s savoir-faire: based on the rue du Faubourg Saint-Honoré motif, the pattern disperses before merging again on the other side of the store. The surrounding terrazzo flooring is flecked with preserved pieces of stone from the existing interior façade. Intimate corner spaces and salons on the ground floor are dedicated to the jewellery and watches, as well as the perfume and beauty métiers – fitted out in saturated blue-green tones that contrast with the hand-painted walls and cherrywood cabinetry.

    A new, sweeping staircase serves as an architectural feature and an eye-catching exploration of form that undulates. Above the stairs floats a commissioned work by Chinese artist Xiaojing Yan. The delicate sculpture, almost 2m in height, is a cloud-like vision of a horse at full gallop, crafted from over 10,000 glass pearls suspended by threads. The ascent from the first to the second floor follows a gradient, hand-painted frescoed wall that carries on through to the men’s universe and home collections on the second floor. Natural light from the new window bathes the space in a lustrous warmth and a communal table encourages guests to linger for a coffee. Arriving from the mall through a third entrance here, the line of sight travels past the home and equestrian

    collections, the leather goods, enveloped in warm and glossy tones of red and deep burgundy, through to the spacious women’s universe. Elegantly clad fitting and VIP rooms, as well as numerous lounge areas furnished with deep leather sofas and armchairs, create an inviting ambience throughout the space.

    In the tradition of establishing a distinct identity for each Hermès locale, a collection of carefully selected artwork, contemporary photography, carré prints, and works from the Émile Hermès collection seamlessly blends the past and present.

    This new Hermès store offers local customers and new visitors an utterly bespoke retail experi- ence, set in an engaging and welcoming environment. It binds the culturally vibrant essence of Shanghai with the Parisian house’s contemporary creative spirit and fine craftsmanship.

    Since 1837, Hermès has remained faithful to its artisan model and its humanist values. The freedom to create, the constant search for beautiful materials, the transmission of savoir-faire of excellence, and the aesthetic of functionality all forge the singularity of Hermès, a house of objects created to last. An independent, family owned company, Hermès is dedicated to keeping the majority of its production in France through its 51 workshops and production sites and to developing its network more than 300 stores in 45 countries. The group employs almost 17,000 people worldwide, including nearly 10,600 in France, among whom more than 5,600 are craftsmen*. Axel Dumas, a sixth-generation family member, has been Hermès CEO since 2013.

    Founded in 2008, the Fondation d’entreprise Hermès supports projects in the areas of artistic creation, training and the transmission of savoir-faire, biodiversity, and the preservation of the environment.

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  • Love Bonito seals $50 million funding round expands into multiple countries

    Love Bonito seals $50 million funding round expands into multiple countries

    Love, Bonito today announced the close of its Series C funding round, raising a total of US$50Million. The round was led by Primavera Capital Group, a global investment firm whose previous investments include Alibaba, ByteDance, Yum China and Mead Johnson China. Adastria and Ondine Capital participated in the round too. Love, Bonito’s current investors include Openspace Ventures and Kakaku.com.

    Proceeds from the fundraising will enable the brand to bolster efforts in existing omnichannel markets and supercharge international expansion in markets that collectively are experiencing triple digits year-on-year (YoY) growth. These key markets include Hong Kong, Japan, Philippines and the US. Furthermore, the company is exploring categories outside of fashion as part of its plan to create a female ecosystem.

    Since its launch in 2010, Love, Bonito has achieved impressive growth, expanding into 10 key markets which include those in Southeast Asia, namely Singapore, Malaysia, Indonesia, Philippines, Cambodia, and East Asia markets, namely Taiwan, Hong Kong, Japan as well as Australia and the US.

    To date, Love, Bonito has achieved overall growth of over 120 percent YoY in international markets, and overall growth of 208 percent for its online sales. The company believes the Asian diaspora communities have extremely high potential, especially in the US, where online revenue growth exceeded 1,200 percent YoY as of September 2021.

    With the latest funding, the brand will double down efforts within markets such as Singapore, Indonesia, and Malaysia that have an omnichannel presence, while other markets such as Hong Kong, Japan, the Philippines, and the US will see an expansion in omni-channels, new business verticals, strengthening of local community engagement and key collaborations, as well as the continuous optimization of user experiences.

    “I am more excited than ever for what is to come in the next decade,” said Rachel Lim, Co-Founder of Love, Bonito. “The growth we see today would not have happened without #TeamLB and our #LBCommunity who consistently strive to support women in the different seasons of their lives. Being in the business of women has been our mission since day one, and we are finally venturing outside of fashion to bolster our offerings.”

    In line with the brand’s mission to empower the everyday Asian woman, plans are in place to increase offerings within the fashion line to include active apparel and accessories. The brand is also looking to venture into a content platform (LiBrary) as well as an exploration into new categories (LaB) which will include wellness.

    The category and product expansion strategy is informed and driven by data and community feedback garnered from several platforms, including the brand’s soon-to-be-launched artificial intelligence that delivers personalization at scale for women globally, through data and machine-learning models. Other existing platforms that contribute to the insights and knowledge gathering include:

    “We have built a strong foundation in understanding the everyday Asian woman in order to be pre-emptive in catering to her needs,” said Dione Song, CEO of Love, Bonito. “We are primed to become a true life partner for our community of women, in and beyond fashion. We have yet to see a womenswear brand from the region stand proud on the world stage amongst industry heavyweights and we want to be the first brand to achieve that, by being purpose-driven, community-focused and innovative.

    “We want to extend our heartfelt thanks to our existing and new investors who bring deep consumer investment experience and recognize the potential of the Asian consumer, both within and outside of the region,” added Dione.

    Lead investor Primavera provided a statement: “Love, Bonito has proven itself to be a one-of-a-kind, purpose-driven brand for women across all life-stages. Consumers are drawn by what the brand stands for and its mission to empower women around the world. Primavera is deeply impressed by how much the team has achieved over the last decade and looks forward to tapping into our understanding and experience in the global consumer sector to help elevate Love, Bonito to the next level. We are thrilled to join Dione and the rest of the team on this path-breaking journey.”

    Love, Bonito’s first external institutional investor, Openspace said: “From day one, we believed in what the brand could achieve as a business-led by women, for women. We are thrilled to now work alongside esteemed investors like Primavera to help write the brand’s next chapter.”

    Series B lead investor Kakaku.com added: “We are delighted to be on the global stage with Love, Bonito, and will continue to support the brand’s data and tech strategies, especially on their entry into the Japanese market.”

    In the next phase of its growth, Love, Bonito aims to shake up the fashion industry by creating a more meaningful impact on its community across all life stages. The brand is setting its sights on creating a thoughtful and well-rounded female ecosystem, supporting different facets of women’s needs within Asian countries and reaching further into the Asian diaspora communities across the globe.

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  • Esprit chief exits after less than a year

    Esprit chief exits after less than a year

    Esprit CEO, president, and executive director Mark Daley has exited the company after less than a year at its helm due to personal family matters.

    “Mr Daley has confirmed that he has no disagreement with the board and there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the company,” the retailer announced on Thursday.

    Daley, who was previously CEO of Billy Reid and group president of Ralph Lauren’s Asia-Pacific region, was appointed to the top job at Esprit at the beginning of 2021 as part of a major restructuring at the business which had suffered from years of revenue decline.

    Daley joined as part of a shake-up that saw the departure of then-CEO Anders Kristiansen, who had been at the helm since 2018, as well as then-chief financial officer Johannes Schmidt-Schultes.

    “The board would like to take this opportunity to express its sincere gratitude to Mr Daley for his contribution to the company during his tenure of office,” Esprit said.

    William Eui Won Pak, who joined the company in September as executive director and chief operating officer, will take on the CEO position on an interim basis.

    He is a New York attorney with over a decade of experience in leading companies in the financial services and fund management industry, and also has expertise in technology, alternative energy, mining, and real estate.

    Pak is also the spouse of Esprit’s executive director and chair, Christin Su Yi Chiu.

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  • Hong Kong’s Retykle opens in Singapore

    Hong Kong’s Retykle opens in Singapore

    Hong Kong kidswear resale platform, Retykle, is set to expand its presence into Singapore, marking the brand’s first foray into an international market.

    The Singapore launch follows Retykle’s latest round of seed funding earlier this year, which will support the retailer’s expansion plan in Singapore and Australia. Shoppers in Singapore now can sell and purchase pre-loved children’s designer clothing, gear and toys, and drop off their outgrown clothes at a physical store.

    “With its growing appetite for eco-conscious fashion and lifestyle choices, Singapore was a natural second market for Retykle,” said founder Sarah Garner. “We are looking forward to empowering parents to conveniently reduce children’s fashion waste by transforming the way they shop.”

    Retykle houses more than 2500 childrenswear brands, including Bonpoint, Jacadi, Petit Bateau, Stella McCartney, Ralph Lauren and Burberry, as well as a selection of maternity wear.

    Since its launch in 2016, more than 150,000 products have been recycled through Retykle. Innately focused on sustainability, Retykle was certified carbon neutral last year and plans to continue to be certified neutral or positive in future years.

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  • Adidas opens Terrex flagship in Shanghai

    Adidas opens Terrex flagship in Shanghai

    On November 21, adidas Terrex opened its new store at APM Mall on Wangfujing Street in Beijing. Brand spokesperson Zhao Youting, senior vice president of sales channel management in Adidas Greater China, Mr. Guillermo del Nogal, senior director of outdoor sports business unit in Adidas Greater China, brand signing athletes Zhang Jingkun and Zhong Qixin, and many outdoor enthusiasts showed up at the opening ceremony of the event.. Interpret the outdoor sports attitude of ” HERE TO CREATE Created by Me” with practical actions, and encourage more outdoor fans to challenge themselves, discover their potential and find better ones in outdoor sports.
    As a mysterious challenger, Adidas Terrex ( Adidas Sharp ) brand signing athletes Zhang Jingkun and Zhong Qixin jointly completed rock climbing and mountain bike relay and performed creative outdoor events on the spot. And together with brand spokesperson Zhao Youting, senior company officials and guests at the scene, they broke the rock wall symbolizing convention and announced the official opening of the new store.
    Mr. Xiao Jiale, senior vice president of sales channel management for Adidas Greater China, said: ” Adidas Terrex has chosen to open a special store in Wangfujing APM, the bustling commercial center in Beijing this time, laying a solid foundation for the strategic layout of the brand in the national market, and hopes to make more consumers enjoy the joy brought by outdoor sports with better products and services in the future.”.
    Adidas Terrerex ( Adidas Insight ) Beijing Wangfujing Store gathers professional outdoor sports products, such as 3in1GTX waterproof eiderdown jacket made of Gore-Tex fabric technology, clima heat technology outdoor eiderdown jacket, as well as a full range of outdoor professional cross-country shoes, outdoor professional hiking shoes, outdoor accessories and other equipment.. In addition, it also has a light outdoor series with both functions and fashion. At Adidas Terrex’s outdoor store on the 4th floor of APM Mall on Wangfujing Street in Beijing, Adidas Trail provides outdoor enthusiasts with all-around professional outdoor products to provide all-around protection and uses cutting-edge outdoor technology to help outdoor enthusiasts to challenge their limits.
    The event also attracted people from various media and outdoor sports to come together. The atmosphere at the event site was full of climaxes, and creative outdoor sports were very impressive. The interactive VR device at the scene takes you to feel the outdoors and attracts a large number of people to stop.
  • Shiseido sees ‘turning point’ ahead in tourism sales

    Shiseido sees ‘turning point’ ahead in tourism sales

    The chief executive of Japanese cosmetics giant Shiseido Co believes inbound tourism will return next year as the pandemic abates, beginning a gradual recovery in sales of high-end goods to travelers.

    A halt in tourism amid the COVID-19 pandemic has cut off sales to Chinese visitors, a critical segment in years past. China may start to ease travel curbs after hosting the Winter Games in Beijing, and a reciprocal opening in Japan would start a “welcome back” of tourist shoppers, Chief Executive Masahiko Uotani said.

    “Next summer will be a turning point,” he said in an interview.

    Like other companies in the luxury sector, Shiseido has been hit hard by COVID-19 related lockdowns that shuttered department stores and airport shops. Operating profit plunged 87% to 15 billion yen ($131.7 million) in the year through December 2020. The company is expecting a partial recovery to 27 billion yen this year.

    Shiseido is aiming to reach 15% operating margin by 2023 and become the global leader in skincare by 2030. To get there, the company is divesting of some lower-priced brands.

    In February, it announced the sale of skincare and shampoo brands to private equity firm CVC Capital Partners for 160 billion yen. Shiseido said in August it would sell three make-up brands for $700 billion to U.S.-based investor Advent International.

    “When we made the plan last year, no one thought that the corona situation in Japan would last this long,” Uotani said. “If economic activity in Japan reaches the level of Europe and the U.S., I think the cosmetics industry will recover all at once.”

    “What I’m hoping for is the spring of next year,” he added.

    On mainland China, there are signs of economic slowdown and concerns of tighter regulation, but the market remains an attractive overseas market.

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  • Uniqlo owner Fast Retailing forecasts profit recovery as pandemic abates

    Uniqlo owner Fast Retailing forecasts profit recovery as pandemic abates

    Japan’s Fast Retailing expects continued recovery in sales and profits in the year to August 2022 as the pandemic abates, the owner of clothing brand Uniqlo said on Thursday.

    The company said it expects operating profit to climb 8.4% to 270 billion yen ($2.4 billion) in fiscal 2021-22.

    For the year ended in August, it reported 249 billion yen in operating profit, topping the 245.7 billion forecast in a Refinitiv poll of 13 analysts.

    “Vaccinations are being carried out all over the world to control the spread of the disease, and the economy is growing in earnest,” chief executive Tadashi Yanai told reporters.

    Fast Retailing expects the pandemic will still drag on results in the first half of the fiscal year but will then recover in the second half as shopping habits return to normal.

    The company said it expects some negative effects from production or logistic delays, problems that have plagued major clothiers and their global supply lines in recent months.

    In September, Fast Retailing said The company said in late September that its clothing releases will be delayed due to COVID-19 lockdowns at partner factories in Vietnam some clothing releases would be delayed due to pandemic-related lockdowns at partner factories in Vietnam.

    That followed crises in Myanmar and China that upset supply lines and created reputational challenges.

    Fast Retailing halted operations at some partner facilities in Myanmar as a military coup led to social unrest and lockdowns. In China, the company and other foreign brands faced a customer backlash over criticisms of alleged human rights abuses in Xinjiang province.

    Fast Retailing operates about 800 Uniqlo stores on the Chinese mainland, about the same number as in Japan.

    Yanai said the company carried out regular inspections of production sites and had built up a team to improve monitoring of how it gets raw materials for its clothes.

    “In the future, we will ensure a higher level of traceability of the materials we procure, including the farmers who produce the raw goods,” Yanai said.

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  • Luxury giant LVMH’s third-quarter sales up by 20 per cent

    Luxury giant LVMH’s third-quarter sales up by 20 per cent

    Sales at French luxury group LVMH’s fashion and leather goods division rose strongly in the third quarter even though overall revenue growth in Asia and the United States eased from their stellar first-half performance.

    LVMH, whose luxury products span Moët & Chandon champagne and Bulgari timepieces, said on Tuesday the popularity of its star labels Louis Vuitton and Dior helped its fashion and leather goods division, which accounts for nearly half of group sales, to report 24per cent growth.

    Revenues for this business at the end of the quarter were 38per cent above their pre-pandemic, 2019 level, the same rate as in the first half.

    The luxury goods industry has bounced back strongly from the health crisis, even if international travel, a key growth driver in pre-pandemic times, has not fully resumed.

    LVMH chief financial officer Jean-Jacques Guiony said revenue growth in Asia had been under pressure in August due to anti-coronavirus restrictions being partially re-imposed in some countries but said the group had not noticed a change in consumer behavior in China.

    A call by China’s President Xi Jinping in August for “common prosperity” and wealth redistribution had prompted investors’ to worry that Beijing might promote measures aimed at reducing the country’s wealth gap, curbing high-end consumption in the world’s largest luxury market.

    “We don’t see any reason that this could be detrimental to the upper-middle class that is the bulk of our customer base,” Guiony said.

    Luca Solca, analyst at Bernstein, was positive on the strong revenue performance at the fashion and leather goods business.

    “We believe this should comes as a relief to investors, especially after the August wobble in the sector and doubts on Chinese demand trends and even if other divisions reduce their growth versus 2019 in the third quarter.”

    The company’s performance showed a marked improvement in Europe in the third quarter, even without deep-pocketed visitors from Asia, as local travel resumed over the summer.

    LVMH recorded 28 percent revenue growth in the United States, compared with a 60 percent rise in the first half of the year, and 12 percent in Asia, excluding Japan, compared with 70 percent in the first six months of the year.

    Guiony said the group had no supply chain issues given its manufacturing is largely based in Europe and also brushed off concerns about rising shipping costs, noting that the group has sufficient margins to cope.

    Overall Like-for-like sales, stripping out the effect of foreign exchange fluctuations, rose by 20 percent to 15.51 billion euros (US$17.90 billion) in the three months to September.

    Growth was roughly in line with an analyst consensus forecast for a 21 percent rise.

    Guiony said the company would continue to focus on broadening the appeal of its blockbuster acquisition, US jeweler Tiffany, by refocusing its product assortment and ongoing marketing efforts.

    LVMH has been rebranding the jeweler with an eye to attracting younger consumers, projecting a campaign starring Beyonce and Jay-Z on digital billboards in New York City’s Times Square and creating a buzz on social media with K-pop star Rose.

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  • Scotch & Soda plans new stores in capital cities

    Scotch & Soda plans new stores in capital cities

    Originally a wholesale brand, Amsterdam-based Scotch & Soda is pursuing a broad-based physical expansion that spans across Europe, Asia-Pacific, North America and the Middle East. Scotch & Soda, in March this year, debuted a new brand identity and logo, which will be present in its new locations.

    Ahead of the upcoming holiday season, Scotch & Soda is also expanding its lifestyle categories, including by introducing three new styles of bags and pursuing a deeper presence in fragrance with home, travel sizes and gift sets. Notably, the brand is prioritizing its own channels for the new bags, with those styles available exclusively online, as well as at franchise and directly operated stores, for the first season.

    The company is also opening its first digital store on Tmall in China, which comes after it launched in the country in July. Scotch & Soda has plans to open stores in “key Chinese cities” in the near future, and CEO Frederick Lukoff sees the country as one of the critical markets for the brand.

    “We are very proud to announce that Scotch & Soda is accelerating its growth strategy. It is indeed a very exciting time for our company despite the challenges caused by the COVID-19 pandemic in the retail industry,” Lukoff said. “We are pursuing the expansion of our retail network at a global level, strengthening our footprint in markets where we are already present, as well as entering key markets such as China, that we see as full of potential to reach new customers and introduce them to our brand.”

    When Scotch & Soda was acquired by private equity firm Sun Capital Partners in 2011, it was far more of a wholesale brand. The company had approximately 30 company-owned and franchised retail stores, in comparison to 7,000 partnership accounts. Scotch & Soda still boasts some 7,000 wholesale doors, but it now has 235 freestanding stores globally.

    By expanding its own fleet of stores, Scotch & Soda is taking a similar strategy to many other wholesale brands looking to make higher margins by selling more DTC. Well-known retailers like Nike and Adidas are pivoting a higher percentage of sales to the model, while cutting back on wholesale partners, to drive future growth.

  • L’Occitane opens world-first green store concept in Australia

    L’Occitane opens world-first green store concept in Australia

    If you’re a fan of the French skincare brand L’Occitane, then you’ll be happy to know that the retailer has just launched their first eco-friendly shop in the city, as part of their efforts to embrace sustainability and reduce local plastic waste. Located in Pacific Place Mall, the new store is designed to appeal to the growing eco-conscious consumer market. The shop offers products that come in 100 percent recycled bottles, and refillable shampoos, conditioners, shower gels, and hand wash. The new store also launches a new limited edition body care product series called the Happy Shea collection which is exclusively available in the shop and their online store.

    The store aims to engage the public in environmental protection through fun activities with their #MEGA (Make Earth Green Again) Sustainability Reward Program, where shoppers can earn rewards by achieving green tasks such as dropping their empty beauty container – from L’Occitane or other beauty brands – in the store’s recycle bins. Shoppers can also participate in other activities like completing a three-minute personal carbon footprint evaluation or adding their ‘green new year wish or commitment’ to the store’s Tree of Wishes.

    Working in partnership with various eco-conscious organizations, L’Occitane’s MEGA concept store will host a series of sustainability-focused workshops that raise recycling awareness. The company is currently collaborating with A Plastic Ocean Foundation (APO) – a Hong Kong-based charitable organization dedicated to raising awareness against plastic pollution. All PET containers collected through L’Occitane stores go to APO for future recycling into rPET products. L’Occitane has already provided APO with 40kg of PET containers collected from customers for future recycling. Today, APO has created 1,000 pieces of #MakeEarthGreenAgain sandwich bags made from rPET and 1,500 pieces of rPET towels, made from PET plastic waste. Shoppers can receive a complimentary rPET sandwich bag for purchases of over $400 in L’Occitane’s eco-store until February 28, 2021.  L’Occitane’s MEGA concept storefront

    As part of the company’s dedication to lessening environmental carbon footprint and protecting biodiversity, L’Occitane’s Hong Kong and Macau general manager Nathaëlle Davoust signed the Ellen MacArthur Foundation New Plastics Economy Global Commitment. In collaboration with the UN Environment Programme, The Global Commitment ‘unites businesses, governments, and other organizations behind a common vision and target to tackle plastic waste and pollution at its source.’ Companies that signed the commitment represent businesses responsible for 20 percent of all plastic packaging produced globally. So, if you’re dropping by the store and purchasing goods, make sure you bring your own bags as the shop will not be providing you with any plastic or paper bags.

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  • Asos CEO, chairman resigning

    Asos CEO, chairman resigning

    Asos chief executive Nick Beighton unexpectedly announced that he is to step down with immediate effect from the U.K.-based online fashion retailer this morning, with Asos warning that the supply chain crisis and rising costs will hit its profits.

    The fast-fashion retailer, which has been one of the chief beneficiaries of the online shopping boom during the Covid pandemic – with revenues up by one fifth and profits rising by a quarter in the year to the end of August – said that the global supply chain shortage, tough comparables and this summer’s travel restrictions all affected sales.

    And profits could be off by as much as 40%, as the company pledged to push for international growth to take sales from $5.5 billion annually to $9.6 billion within four years.

    Asos said Beighton and the board had agreed that it was “the right time” for him to go after 12 years with the business and the past six of those in the role of chief executive, although no reason was offered for his departure. Synonymous with the brand, Beighton was expected to lead a revival next year and news of his sudden departure saw shares off by 15% in early trading before starting to recover.

    Since its peak valuation in March of this year, shares are down circa 60%, which no doubt played its part in the company’s change of direction, which it hopes will see the doubling in size of its combined U.S. and Europe business and the addition of at least $1.36 billion to its own-brand sales.

    Asos chairman, Adam Crozier, who is to stand down next month to take over as chairman at U.K. telecoms giant BT, said: “Asos’s management and board have spent considerable time over recent months developing and validating a clear strategic plan to accelerate international growth, building on Asos’s undoubted strength in the U.K.

    Ian Dyson will become the next Asos chairman, chief financial officer Mat Dunn will take on the role of chief operating officer and will lead the day-to-day business, while Katy Mecklenburgh will act as interim CFO.

    In addition, Dyson will succeed Adam Crozier as non-executive chairman, effective November 29, for a three-year term, while a search has started for a successor to Beighton.

    The company, which like many other U.K. businesses has been hit by the double blow of a global supply chain crisis and the impact of Brexit, said: “Industry-wide supply chain pressures are expected to continue through the first half, resulting in longer lead times and constrained supply from a number of our partner brands.”

    Asos added that there would be “notable cost headwinds” including inbound freight costs, labor cost inflation, outbound delivery costs and Brexit duty, although it predicted a recovery beginning in 2022.

    The company, which reported profits of $241.5 million in the year to the end of August, said it expects adjusted profits before tax to fall between $150 million and $191 million for its next financial year. This is below analysts’ expectations of $254 million.

    The retailer said it achieved particularly strong sales growth of 36% in the U.K., while sales in the U.S., E.U. and the rest of the world increased by 21%,15% and 6% respectively.

    Beighton is credited with helping turn Asos into a global online fashion powerhouse and recently the company bought the Topshop brand, following the collapse of billionaire Philip Green’s Arcadia empire.

    Of his departure, Beighton said: “I have enjoyed every moment of my 12 years at Asos. When I joined, there were fewer than 200 people and we had annual sales of around $300 million. I leave a business reporting turnover of almost $5.5 billion, with more than 3,000 fantastic ‘Asos-ers’ delivering for 26 million customers in 200 markets around the world.”

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  • WatchBox opens in eight new cities

    WatchBox opens in eight new cities

    Luxury watch retailer, WatchBox, is accelerating its expansion plan with eight new locations, including its debut in Tokyo.

    The brand said it will open five stores during the next six months. The eight new locations will be rolled out by the end of next year with five in the US and three international locations – Zurich, Riyadh, and Tokyo.

    “This is an incredibly exciting time for WatchBox,” said Justin Reis, global CEO of WatchBox. “We have seen profitable growth year-over-year and expect to achieve 40-per-cent revenue growth this year.”

    The company said it will reach US$300 million in net revenue this year, exceeding US$1 billion in lifetime revenue before the end of the year. WatchBox currently has a presence across Dubai, Hong Kong, Neuchatel, Singapore and the US.

    McKinsey & Company estimates the primary and secondary watch markets will grow from US$66 billion to US$97 billion by 2025.

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