Retail News CRM

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.

  • Burberry delivers growth in APAC, most coming from E-commerce

    Burberry delivers growth in APAC, most coming from E-commerce

    Global luxury fashion brand Burberry saw comparable retail sales decline 9 percent during its third-quarter period, as tourist traffic slowed amid the continuing Covid-19 pandemic.

    However, full-price sales jumped due to a decline in markdowns, and the business performed well in Asia-Pacific with comparable sales up 11 percent from strong growth in Mainland China and Korea.

    Japan and the South Asia Pacific, however, continue to be affected by limited tourist traffic and store closures.

    Full-priced sales increased by “double digits” in China, Korea, and the Americas, driven by Christmas and Lunar New Year campaigns, as well as a bigger focus on online pop-ups and activations supporting a 50 percent increase in full-priced sales in Burberry’s digital channel.

    Europe, the Middle East, India, and Africa saw comparable sales fall 37 percent, due to falling tourist numbers, while the Americas fell 8 percent.

    “The brand is pushing full-steam ahead with a full-price strategy to strengthen its gross margins as it continues to focus on driving online demand, particularly from new, younger customers,” said GlobalData’s Gemma Boothroyd.

    “Burberry’s online capabilities will prove vital for its ability to navigate the uncertainty of Covid-19.”

    And, with 15 percent of the business’ stores closed and 36 percent operating with reduced hours or restrictions, the business warned that uncertainty is leading to an uncertain trajectory moving into the fourth quarter.

    “We expect trading will remain susceptible to regional disruptions as we close the financial year,” Burberry said.

    “Notwithstanding any incremental lockdowns, we expect gross margins to benefit from positive full-price, regional and channel mix and lower stock provisions.”

    According to Boothroyd, Burberry’s digital focus has set the standard for other players in the luxury industry, due to the introduction of features such as AR shopping and virtual try-on capabilities.

    “The brand is also harnessing digital platforms to drive engagement through influencer partnerships,” Boothroyd said.

    “Such initiatives will continue to be crucial in Burberry’s attempts to strengthen its appeal amongst a younger demographic.”

    Lees ook:

    Lees ook:

  • Laura Ashley rolls out new stores in Japan

    Laura Ashley rolls out new stores in Japan

    British lifestyle brand Laura Ashley has revealed an expansion plan in Japan with seven new outlets scheduled to open during the first three months of this year.

    New Laura Ashley Japan stores will include those in Tokyu Department Store Sapporo, Tobu Department Store Ikebukuro, Odakyu Department Store Machida and Keikyu Department Store.

    “We will deliver products that beautifully and richly colour your “home” and “living”, including original textiles that are naturally inspired,” the company said in a statement, translated from Japanese. “We will introduce more various items such as women’s wear and home miscellaneous goods.”

    The British retailer entered Japan after trading house Itochu acquired the master license rights. The brand was then sold to The World Group under a sublicense agreement. Besides Laura Ashley, The World Group is also managing other house goods and interiors brands, such as 212 Kitchen Store, One’s Terrance, and Timeless Comfort.

    Laura Ashley was one of the world’s first high-profile retailers to collapse due to the Covid-19 pandemic last year.

    Lees ook:

  • Hong Kong’s Fashionally and ITC Store launch new collaboration

    Hong Kong’s Fashionally and ITC Store launch new collaboration

    FASHIONALLY.com, a non-profit local fashion platform pioneered by the Hong Kong Trade Development Council (HKTDC), has launched a debut collaboration with the ITC STORE of The Hong Kong Polytechnic University (PolyU).

    The store showcases seven fashion brands from the Hong Kong Young Fashion Designers’ Contest (YDC), creating a brand-new online-to-offline (O2O) marketing and promotion channel to nurture business opportunities for local fashion designers at the start of the year.From now to 11 April, the ITC STORE X FASHIONALLY online store will feature a series of local fashion brand items including fabric face masks, women’s knitwear, leather clothing and accessories, and much more.

    Participating brands include ARTO. (designs by Arto Wong), Charlotte Ng Studio (Charlotte Ng), FromClothingOf (Shirley Wong), KURT HO (Kurt Ho), Lapeewee (Yannes Wong), Mum’s Design (Bicy Yeung) and PHENOTYPSETTER (Jane Ng). From now through April, ITC STORE’s physical showroom will showcase exclusive fashion items from selected brands on a monthly basis, providing a new O2O shopping experience for fashion lovers.

    The YDC aims to discover and nurture the next generation of young fashion talents in Hong Kong, providing a launch pad for them to showcase their designs. YDC 2021 is now open for entry with an enrolment deadline of 28 April. For details please visit: www.fashionally.com/ydc_application/

    Lees ook:

  • Giordano International warns for a profit decrease

    Giordano International warns for a profit decrease

    Giordano International (0709) warned that it expects to record an annual net loss of between HK$110 million and HK$130 million in 2020, as compared with a profit of HK$230 million in 2019.

    As stated in the interim results announcement last year, a net loss of HK$175 million was recorded for the six months ended June 30, 2020. However, the group expects to record a net profit of between HK$45 million and HK$65 million in the second half of the year due to the positive trend in retail sales and improvement in consumer sentiment.

    The forecast net profit has not taken into account further potential asset impairment charges.

    As of end-December, 2020, the group’s merchandise inventory was worth about HK$435 million, below that of 2019 by about HK$113 million.

    Lees ook:

    Lees ook:

  • Li Ning ready to buy Clarks footwear

    Li Ning ready to buy Clarks footwear

    Li Ning, the gymnast-entrepreneur who lit the Olympic flame during China’s 2008 Games, has bought control of one of Britain’s oldest shoe producers, extending the global shopping spree by Chinese companies for famous international brands. Viva China Holdings, the sports talent agency founded by Li, has agreed to pay £51 million (US$69.7 million) for 51 percent of LionRock Capital Partners QiLe Limited, the private equity firm which will own the Clarks brand, according to a filing to the Hong Kong stock exchange. The investment would give Viva China control of Clarks when LionRock completes its £100 million investment to recapitalize Clarks. Li is the non-executive chairman of LionRock.

    Based in the same village in south-western England’s Somerset county for nearly two centuries since its establishment in 1825, Clarks’ business has struggled along with the global retailing industry, as the raging coronavirus pandemic kept staff from workshops and sapped the appetite for consumption. The retailer, operating 320 stores in the UK alone, had to cut 900 jobs last May out of a global workforce of 13,000, after reporting a 2019 loss of £83 million. The company warned of deteriorating performance in 2020.

    “The challenges to our business brought on by Covid-19 have meant that we need more resources and investment to fully deliver [Clarks’] strategy and safeguard the future of our business,” said the shoemaker’s chief executive Giorgio Presca in November. “The new partnership with LionRock will provide this as well as the expertise to grow the Clarks brand in China, which remains a primary opportunity.”

    Li’s purchase of Clarks follows the acquisitions of dozens of global sports brands by Anta Sports, Xtep, and 361 Degrees International, which make up China’s four largest sportswear producers along with Li’s eponymous brand.

    Anta’s brands cover Fila, and Japan’s Descente, as well as an investment in the Finnish company Amer, which owns multiple brands, from Atomic skis to Salomon snowboards, Arc’teryx outdoor gear to Mavic bicycle wheels and Suunto sports watches.

    Xtep’s stable of brands now includes the hiking brand Merrell, leisure brand Hush Puppies, and running specialist Saucony, as well as the leisure brands K-Swiss, Palladium, and Supra.

    “Clarks is one of the world‘s most recognized consumer names,” LionRock’s founder and managing director Daniel Tseung said in November. “Our investment will not only strengthen Clarks’ position as one of the world’s most recognized brands but also allow growth into key emerging markets.

    Li owns a 92.91 percent of Viva China, which was established in 2009, according to its interim report for 2020.

    The price tag for Clarks would be set off against an equivalent amount of £54 million that Viva China lent to LionRock Capital last September, according to the statement on Friday.

    Shares of Viva China fell by 1.5 percent to HK$0.65 in Hong Kong after the announcement.

    Lees ook:

  • Canada Goose appoints an APAC president

    Canada Goose appoints an APAC president

    Canada Goose announced the appointment of Scott Cameron as president, Asia-Pacific (APAC), effective April 1 and the appointment of Michael D. Armstrong, executive vice president, ViacomCBS, to its Board of Directors as an independent director, effective immediately.

    Cameron joined Canada Goose in 2016 as chief strategy and business development officer and most recently served as president of the Greater China region. During his tenure, Cameron was responsible for the development and growth of the brand’s direct-to-consumer global channels, successfully established Canada Goose’s presence in Asia and assembled its team in the region. In this new role, he will oversee all marketing and commercial activity within the expanded APAC region, which includes Greater China, Japan, South Korea, Australia, and New Zealand.

    “Scott has been instrumental in ensuring the highest level of operational excellence throughout our stores globally, building our business in Greater China and providing an exceptional level of support to the executive team for the past five years,” said Dani Reiss, president and CEO of Canada Goose. “This appointment is a reflection of his relentless efforts and the success he has helped to drive in the region.”

    Armstrong, a 22-year veteran of ViacomCBS Global Distribution Group, manages relationships with third-party studios and oversees the international sales teams for formats and CBS Newspath service. Previously, he served as general manager of BET Networks, where he oversaw strategy and operations, content acquisitions, multi-platform scheduling, marketing, corporate communications, strategy, finance, research, and audience science. Armstrong is on the board of PRX and a member of the Board of Trustees at his alma mater Hampton University.

    “I look forward to Michael’s contributions as a Canada Goose board member, drawing on his extensive expertise in business development and operations throughout the entertainment industry and the world,” said Reiss. “I am confident that his vast entertainment experience will provide a valuable perspective as we continue to execute on our long-term growth strategy.”

    “I am honored to join the Board of Directors at Canada Goose, which has grown into one of the world’s most coveted lifestyle and performance luxury apparel brands. I look forward to working hand in hand with my fellow Board members and the management team to continue to propel the brand’s growth,” said Armstrong.

    Lees ook:

    Lees ook:

    Lees ook:

  • Mango waiting with store rollouts in China

    Mango waiting with store rollouts in China

    Never before has one seen bricks-and-mortar stores in such a bad shape as it has been this year – all thanks to the pandemic.

    Amidst all this, Spanish fashion retailer Mango is all set to enhance its bricks-and-mortar presence in the US.

    The clothing retail giant has expressed its plans to roll out 3 stores in the first quarter of next year.

    Notably, the new stores will be opened in 3 major US shopping centres that are run by the renowned Simon Property Group.

    The Spanish retailer strategically picked the 3 locations – Menlo Park Mall, Edison, New Jersey; Dadeland Mall, Kendall, Florida and Roosevelt Field, Garden City, New York – to jumpstart the expansion of its ‘Mediterranean’ label to US consumers.

    The retailer has been continuously putting efforts to improve its brand recognition in the US through digital and wholesale network and now the focus is on enhancing the presence of its physical stores.

    Excited over introducing Mango to American fashion consumers, Zachary Beloff, National Director of Business Development, Simon, said that Mango is a world famous brand and Simon believes the brand has a strong bricks-and-mortar future in the US.

    Lees ook:

  • Uniqlo owner Fast Retailing’s operating profit beats pre-pandemic level

    Uniqlo owner Fast Retailing’s operating profit beats pre-pandemic level

    The owner of Japanese clothing chain Uniqlo said on Thursday its quarterly operating profit beat pre-pandemic levels with the help of China’s resurgence and solid demand for comfortable roomwear such as stretchy jogging pants.

    Fast Retailing’s quarterly profit rose to 113.1 billion yen (S$1.44 billion), up 23 percent from a year earlier when the novel coronavirus outbreak had yet to emerge.

    The market’s consensus forecast was for 104.7 billion yen, although its quarterly sales of 619.8 billion yen missed the market’s view of 640 billion yen, according to the average of analysts’ forecasts from Refinitiv.

    Lees ook:

  • Coach launches Disney Mickey Mouse x Keith Haring Line

    Coach launches Disney Mickey Mouse x Keith Haring Line

    What happens when two American icons get together? A new collection that paints Disney’s Mickey Mouse in a whole new light. Stuart Vevers isn’t the only one who was inspired by the art of Walt Disney. Artist Keith Haring learned to draw Mickey Mouse from a Disney “how-to-draw” book at his grandmother’s house, and considered following in Disney’s footsteps by becoming a cartoonist. Although that didn’t come to pass, it did pave a path that ultimately led Haring to study fine art. Those initial references never left him and became a part of his now-famous style.

    Now Vevers, creative director of Coach, has created the Disney Mickey Mouse x Keith Haring collection of apparel and accessories. A campaign, created in collaboration with photographer Alessandro Simonetti features Kaia Gerber, Cole Sprouse, Koki, Xiao Wen Ju and Myles O’Neal and was shot in the streets in Vancouver, Los Angeles, Guangzhou and Tokyo, in scenes intended to be reminiscent of New York in the Eighties, where Haring lived and worked.

    The collection of glove-tanned leather bags topped with Mickey Mouse ears, along with shearling jackets, totes and sweatshirts, is printed with Haring’s illustrations of the famous rodent from the Eighties. The special-edition collection celebrates Pop Art and is intended to reflect Haring’s belief that art should be for everyone. The illustrations used on the line include Andy Mouse, Haring’s interpretation of his hero, Andy Warhol, drawn as Mickey Mouse.

    “Sometimes the best design comes from the most unlikely juxtapositions, and I can’t think of a cultural clash that brings me more joy than Mickey Mouse and Keith Haring,” Vevers said. “Ahead of its time when it was first made, this art feels so timely today as we can celebrate and appreciate the diverse work of great creators whoever they may be, without social boundaries. As my collections over the years have shown, I love Disney and I love Keith Haring, so this collaboration makes for my ultimate treat.”

    Lees ook:

  • Dr. Martens set for London IPO, valuing shoe brand at US$2.7 billion

    Dr. Martens set for London IPO, valuing shoe brand at US$2.7 billion

    The British footwear brand Dr. Martens is planning a £3bn flotation, more than 60 years after its first pair of boots were stitched together in Northamptonshire.

    Best known for its 1460 boot featuring its trademark yellow stitching and chunky soles, the company expects to float at least 25% of the business on the London stock market.

    It comes nearly seven years after Dr Martens was bought for £300m by the private equity group Permira. Sales under its ownership have surged, rising from £160m in 2013 to £672m in the year to March 2020. Sources close to the plans said the shoe company expects to seek a valuation of about £3bn.

    The brand, which sells 11m pairs of shoes and boots a year across more than 60 countries, managed to grow throughout the pandemic, despite lockdowns that forced its 130 high street stores to close. Dr Martens reported an 18% rise in sales to £318m in the six months to September, while profits grew by a third to £86.3m. The majority of sales come from the wholesale business, which sells to third-party retailers.

    The first pair of Dr. Martens made in the UK was in 1960 at its original factory in Northamptonshire, where one of its two main offices is still based. The boots grew in popularity over the following decades, first adopted by skinheads in the 1960s, and later becoming fashion staples among punks, goths, and schoolgirls.

    However, Russ Mould, the investment director at broker AJ Bell, said there were some “red flags”, including consumer complaints about the quality of Dr. Martens footwear.

    “Could it be that the business has suffered under private equity ownership? Many investors are skeptical about backing companies that are being sold by private equity, for fear they might have suffered from underinvestment and subjected to a ‘quantity over quality’ approach for production,” Mould said.

    However, some critics have said the alleged deterioration came after it shifted the bulk of its production from the UK to Asia nearly 20 years ago, he said.

    Dr. Martens said it rejected allegations of declining standards and said Permira had continued to invest in the business since its takeover.

    The footwear firm also said on Monday it had diversified its supply chain, and reduced the proportion of shoes made in China from 46% to 32% between 2019 and 2020, but did not link the changes to quality concerns.

    Mould said Dr Martens’ IPO was coming at an interesting time for UK markets, hot on the heels of a Brexit deal and the best-ever start to a calendar year for the FTSE 100. “If ever there was a good time to market a well-known British name to investors, it is now,” he said.

  • 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.

    Lees ook:

  • 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.

    Lees ook:

    Lees ook:

  • 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.

    Lees ook:

    Lees ook:

  • 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.

    Lees ook: