Tag: asia

  • How Ikea makes local shoppers feel at home in its stores across the world

    How Ikea makes local shoppers feel at home in its stores across the world

    Ikea’s blue-and-yellow stores are instantly recognizable: iconic, monolithic and now, as India’s first store throws open its doors to the masses, operating in more than 400 stores in some 50 countries.

    But while every branch of the world’s largest furniture retailer has that most unmistakable whiff of flat-pack conformity, regional differences do exist — not least where their famed Swedish meatballs are concerned. In many countries, the Ikea business model has been subtly tweaked to fit local preferences and customs. Opening hours are altered, menu options are adjusted and very occasionally, women are airbrushed out of catalogues.

    Here’s how a multinational company built on the principles of mass production caters to national tastes.

    The Restaurant

    The cafeteria in Ikea’s new Hyderabad store will have 1,000 seats; what it won’t have is Swedish meatballs. Out of respect for Hindu beliefs, the pork-and-beef dish will be dropped from the menu in favour of chicken meatballs, biryani, samosas and vegetarian hotdogs.

    It’s not the first time the retail giant’s best-known meal has got mixed up in religion. In 2013, traces of horsemeat were discovered in batches from a Swedish supplier, forcing Ikea to release statements in Malaysia and the United Arab Emirates reassuring customers that the pork-free “Swedish” meatballs in those countries were halal certified (and not, in fact, produced in Sweden).

    Most often, menus are tweaked simply to appeal to regional tastes: Crayfish in Japan, fish and chips in the UK, shawarma in Dubai. In a daring move that would pit popularity against convenience, Ikea’s menu may yet become available without a diner having to go anywhere near a stick of furniture: the company is reportedly considering opening standalone restaurants in the US, although “no decisions have been made,” according to a spokesperson.

    The Catalog

    Unsurprisingly, the product lines in the catalog vary somewhat from country to country: the kitchenware section in India will feature spice boxes and idli (rice cake) makers, according to the AFP, while its Chinese cousin goes heavy on woks, cleavers and steamers.

    The catalog itself has been more controversial. A woman-free catalog was produced last year for Israel’s ultra-Orthodox community by the company’s local franchisee, featuring photographs of men and boys only. Ikea later apologized, but the furore can’t have come as a surprise: in 2012 a Saudi catalog appeared with some photos of women airbrushed out, sparking a similar response.

    The Floor Space

    In densely-populated Hong Kong, where flats are typically small and the streets are crowded, Ikea is a place to relax as well as shop. The soft-furnishing section is often crowded with locals taking an air-conditioned break from the city, lounging around on the sofas. Meanwhile, in mainland China, shoppers make themselves even more comfortable: it’s common to find people sleeping in the display beds and armchairs, a habit that isn’t tolerated so readily in other parts of the world.

    Limited space is an issue for the company itself in crowded European capitals like London, Stockholm and Madrid, where it’s opened small-scale stores of less than 1,000 square meters. That’s good news for the maze haters who can’t stand following the arrows around a typical big-box Ikea, which typically sprawls across 25,000 square meters.

    Home Sweet Home

    The local touches aren’t just in-store — they follow you home. Hong Kong deliveries are priced depending on the number of steps up to your apartment (perhaps not unreasonable in such a high-rise city). In the US and UK, you can have your self-assembly furniture built for you using TaskRabbit, an online service that matches freelance labour to one-off jobs, which was acquired by Ikea in 2017. In London, having your kitchen assembled could set you back anywhere between about £13 and £52 ($17 to $67) an hour. Meanwhile, in Dubai, the local assembly service will charge you about 300 dirhams ($82) for the entire job.

    Does the thought of all this global mega-retail have you itching for a long evening browsing the modular storage systems? Head to Hyderabad. In a part of the world where many people’s day starts and ends late, Ikea’s newest branch will be open to 11 pm — a full three hours later than branches in the chain’s home country.

    If, however, you’ve suddenly gone right off the idea of leaving your tastefully furnished house, don’t worry, you can now shop online for your stainless steel shelving, your printed cotton pillowcases — and sometimes even your meatballs — in all but a handful of Ikea’s markets.

  • Canada Goose shares jump on smaller-than-expected loss

    Canada Goose shares jump on smaller-than-expected loss

    Luxury parka maker Canada Goose reported a smaller-than-expected first-quarter loss on Thursday, amid growing revenue from its direct-to-consumer business.

    The Toronto-based company reported a net loss of $18.7-million, or 17 cents, in the quarter ended June 30, narrower than analyst expectations for a loss of $22.3-million, or 21 cents. It posted a loss of $12.1-million, or 11 cents, a year earlier.

    Canada Goose shares surged as much as 6.5 per cent in Toronto in early trading and were up 4.6 per cent at $76.07 at 9:34 a.m. ET (1334 GMT).

    The maker of $900-parkas has been focused on expanding margins by taking more control of its manufacturing and retail sales. Largely cushioned from the retail industry’s struggles by its luxury pedigree, it is opening more of its own stores, pushing into China and Hong Kong, and has expanded into new product lines including knitwear.

    The company’s gross margin jumped to 64 per cent in the quarter from 47 per cent a year earlier.

    Canada Goose maintained forecasts for its 2019 fiscal year of annual revenue growth of at least 20 per cent and adjusted net income per share expansion of at least 25 percent.

    Investors have rewarded the company, with its shares up 83 per cent this year, versus a minuscule gain of 0.6 percent in the Toronto Stock Exchange’s S&P/TSX composite index.

    The company operates seven stores around the world, with another three set to open in North America by year-end.

    It said in May it will open a store each in Beijing and Hong Kong with partner ImagineX Group this fall, and will start e-commerce sales in China through Alibaba Group’s Tmall. It has said it plans to open up to 20 stores by the end of 2020.

    “Productivity across our retail store network in this off-peak period was exceptional, reducing the loss impact of our strategic growth investments and giving us a favorable tailwind for the rest of the year,” Chief Executive Officer Dani Reiss said in a regulatory filing.

    Revenue grew 58.5 per cent to $44.7-million in the first quarter, driven by the direct-to-consumer division — its own stores and online sales — which rose to $23.2-million from $8.3-million a year earlier. Wholesale revenue increased to $21.5-million from $19.9-million.

  • Net1 Indonesia Quick Response on the Lombok Earthquake

    Net1 Indonesia Quick Response on the Lombok Earthquake

    Net1 Indonesia is quick responding towards the earthquake in Lombok Island, West Nusa Tenggara (NTB) by providing Free WiFi access for refugees in evacuation area. To implement the social action, Net1 Indonesia collaborates with Communications and Informatics Office (Kominfo) of Province West Nusa Tenggara. Net1 has donated 100 WiFi devices to the office to be distributed and installed in several evacuation areas.

    This caring action is part of Net1 Indonesia’s Corporate Social Responsibility (CSR) to relieve the burden of victims affected by the Lombok earthquake, which killed 113 people, injured 236 people and thousands others homeless caused of severe damage. Until Tuesday (8/8), aftershocks still occurred after the earthquake with a magnitude of 7 hit Lombok Island, West Nusa Tenggara, on Sunday (5/8).

    “We received information from our area team in West Nusa Tenggara that telecommunication access was down, while many people were still looking for their family members. Telecommunications access will facilitate people and their families to communicate and update each other on their conditions,” said Larry Ridwan, CEO of Net1 Indonesia.

    With the support of telecommunication access and internet from Net1, shelters around the disaster area can be an information hub to update informations related to the disaster, including the possibility to find people who separated from their family. The WiFi devices installation in the shelters is possible to be extended based on situation and condition in the natural disaster area.

    “We will distribute the one hundred devices to 48 sub-districts in Mataram City, and in the districts including North Lombok, Central Lombok, West Lombok and East Lombok. So far, the worst damage occurs in North Lombok with 78 death toll. We are excited since Net1 is very quick responding to fulfill the need of telecommunication and internet access. Telecommunication access in Lombok and its surrounding was down when people urgently need to contact and update their conditions to family and relatives,” revealed Tri Budiprayitno, Head of Kominfo Office in West Nusa Tenggara Province.

    “We hope this disaster will pass soon, so people can recover and resume to their activities,” Larry added.

    Because of the magnitude of the earthquake, a number of telecommunication infrastructure in Lombok damaged, but the damage did not affect the network and range of Net1 Indonesia 4G LTE. Net1 Indonesia’s networks and signals are normally operating at 450MHz frequency to provide adequate telecommunications access for its customers and victims.

    Net1 Indonesia also encourages Sentra Net1 which spreaded across Bali and Lombok Island to play an active role in providing technical repair if there are customers’ devices damaged because of earthquake. Please visit net1.co.id for more information.

  • Pink Parlour opens new Malaysia store

    Pink Parlour opens new Malaysia store

    A second Pink Parlour location is popping up in Malaysia.

    Opening in the city of Johor Bahru inside the KSL Mall, the lifestyle concept store will offer Pink Parlour beauty treatments, as well as serving as a café and retail space, according to a press release from Singaporean owner and operator, Parlour Group.

    Inside, the store’s front area will feature a café teashop and a retail spot, selling various pink-coloured products, matching the pink aesthetic of the Singapore salon.

    Out back, Pink Parlour’s waxing salon will be located, alongside a Senses area, the company’s second foot reflexology massage outlet.

    The new hybrid store – decked out in the brand’s signature fuchsia pink – is focused on innovation, and allows consumers to enjoy a holistic shopping and beauty experience.

    The new branch will be second store to bow in Malaysia after its first store opening in Kuala Lumpur’s Sunway Putra Mall just two years ago.

    Following the success of Parlour Group’s first location, the decision to create this brand new concept store signals positive receptivity in the Malaysian market.

    Fairoz Karim, one of the company’s established franchise partners in Malaysia, will operate the location.

    “Having seen [Pink Parlour’s] encouraging growth and support in Kuala Lumpur, I am truly excited to expand the business and open its second outlet in the hustling city of Johor Bahru,” said Karim.

    “Johor Bahru Malaysia KSL Mall has proven to be a prosperous commercial space, attracting hundreds of customers looking for upscale, professional beauty services, on a daily basis.

    “I look forward to seeing what the future holds for this new location in KSL mall and continuing our mutually beneficial business relationship with Parlour Group from Singapore.”

    Founded in 2005 by Singapore beauty veteran Wendi Chan and sales maven Derrick Seeto, Pink Parlour started out from a lack of modern beauty salons in Singapore.

    Today, the group operates 15 Pink Parlour outlets across Southeast Asian metropolitan cities such as Singapore, Kuala Lumpur, Manila and Jakarta.

  • Crocs Philippines Launches Brand Ecommerce Website

    Crocs Philippines Launches Brand Ecommerce Website

    Catering to the growing demand of online shoppers in the Philippines, Crocs Philippines, the world leader of innovative footwear, officially announces the launch of its ecommerce website. Crocs Philippines has been working with aCommerce, the region’s leading brand ecommerce enabler to provide a frictionless online shopping experience for fashion-loving Filipinos.

    The team at aCommerce helped align the website to Crocs’ unique, stylish and playful market, with the new online shop including features such as:

    Find the Perfect Shoes

    Unlike your usual drop-down filter for colors and style, Crocs’ Find the Perfect Shoes incorporates visual and graphics to provide a fun and efficient way for shoppers to find their perfect pair of Crocs.

    Store Finder

    Online shoppers will also be able to locate Crocs’ stores nationwide with a Store Finder, a step towards offering a true omni-channel shopping experience in the near future.

    Crocs’ local ecommerce website also includes a section of ‘#ComeAsYouAre’, which is the company’s global campaign launched last year to celebrate the uniqueness of individuals and help more people get comfortable in their own shoes. This section of the website allows Filipinos to join Crocs’ global ambassadors like Drew Barrymore, YOONA and Henry Lau in sharing selfies, shoefie or favorite Crocs photos via @CrocsPH with hashtags: #CrocsPH #ComeAsYouAre.

    “Having worked with aCommerce to launch and operate our flagship store on Lazada Philippines, it was easy to extend our collaboration with aCommerce to launch our brand webstore. Since our Lazada launch, more shoppers are enjoying the comfort of Crocs especially in places where our concept stores are not yet present. We are excited to see further growth working with aCommerce.” Mark Christian Chan, President of Crocs Philippines.

    “With the success of their Lazada shop-in-shop, the team at Crocs came to us for help with their brand.com website. Having their own direct-to-consumer brand website offers opportunities to collect customer data, provide a customized online experience, and execute CRM strategies beyond what e-marketplaces are able to offer,” said Mandy, Group Director of Direct-to-Consumer Ecommerce at aCommerce.

    In the near future, Crocs will also partner with aCommerce on digital marketing services, such as performance marketing and influencer marketing to boost online sales. Currently, Crocs has a total of 57 stores in the Philippines. Its first ecommerce presence was established in April 2018, with aCommerce helping to launch the Crocs Lazada shop-in-shop.

  • Amazon India opens its largest fulfilment centre in Haryana

    Amazon India opens its largest fulfilment centre in Haryana

    Expanding its infrastructure footprint in India, online retail major Amazon India on Tuesday opened its largest fulfilment centre (FC) in Haryana with a view to enhance customer experience ahead of the festive season.

    Spread over close to 300,000 square feet with over 1.5 million cubic feet of storage space, the centre situated in Panchgaon will enable faster delivery to customers in the region, the company said in a statement.

    “With the launch of our largest fulfilment centre in Haryana, we now have a storage capacity of more than five million cubic feet in the state. The FC will enable sellers to use the local infrastructure, save capital and help them grow,” said Akhil Saxena, Vice President, Customer Fulfilment, Amazon India.

    The centre is expected to provide support to the local economy by enabling the growth of ancillary businesses such as packaging, transportation, logistics and hospitality across the state.

    It will cater to customer demand for products in categories such as smartphones, consumer electronics, appliances, fashion and consumables, Amazon India said.

  • Fung Retailing likely to sell Toys R Us stake

    Fung Retailing likely to sell Toys R Us stake

    Lenders owed funds from the collapsed Toys R Us North American business are trying to have a US court force Hong Kong’s Fung Group to sell its stake in the profitable Asian subsidiary.

    According to a report by Bloomberg, for which Fung Retailing did not respond to a request for comment, senior lenders have made an opening bid of US$760 million for Toys R Us Asia, of which Fung Retailing holds 15 per cent. That’s well below the $1 billion the company said in April it was likely to receive for the business several months ago, citing “multiple bids”. But now the company says it has been unable to get any of those bidders to commit, alleging “interference” by Fung.

    The lenders, which include York Capital Management Global Advisors, Barclays Bank and Cerberus Capital Management, plan to essentially swap debt for equity in the Toys R Us Asia business in what is termed a “credit bid”.

    The business goes to auction in a US bankruptcy court next month.

    However, according to Bloomberg, Toys R Us has asked a federal judge to invalidate Fung Retailing’s option giving it first right of refusal to purchase additional shares – and to force the Hong Kong company to sell its stake.

    Toys R Us Asia has repeatedly stressed its business was robust and profitable during the collapse of the US and then UK operations.

    The US toy retailer was unable to restructure its debt after filing for bankruptcy last year and has since progressively closed its operations in North America, the UK and Australia.

    Bloomberg says the liquidation sales may not bring in enough money to cover the cost of the bankruptcy, with suppliers, lawyers and former employees all seeking payment for services they provided after Toys R Us entered Chapter 11 last September.

  • Starbucks to open Reserve store in Malaysia

    Starbucks to open Reserve store in Malaysia

    Starbucks Malaysia is about to open its first Reserve store.

    Local franchise holder Berjaya Food plans to expand its existing Berjaya Times Square Starbucks outlet into the new up-market format.

    The brand has entered into a sale and purchase agreement to secure an 829sqft space adjacent to the existing café for a reported RM12.43 million (US$3.05 million). The space was purchased by investment firm Deru Klasik for RM3.83 million in 2005. The purchase is expected to be completed by the end of this year.

    Berjaya Food said the Starbucks Malaysia Reserve store will provide customers with a personalised, hand-crafted coffee experience, adding that the property acquisition should enable the group to benefit from any future capital appreciation.

  • Indonesia’s Pertamina to Invest $237m in Sanga Sanga Oil Block

    Indonesia’s Pertamina to Invest $237m in Sanga Sanga Oil Block

    State-owned energy company Pertamina plans to invest $237 million over the course of three years to develop the Sanga Sanga oil block in East Kalimantan, it announced on Wednesday (08/08).

    Pertamina has just acquired the block from US-based Virginia Indonesia Company (VICO), which was operating it for four decades.

    According to upstream oil and gas regulator SKK Migas, the Sanga Sanga oil block currently produces 10,753 barrels oil equivalent per day (boepd). The block, located in Kutai Kertanegara district, also produces 80.7 million metric standard cubic feet per day (mmscfd) of gas. It has an estimated cumulative production of 258 million barrels of oil equivalent (mmboe).

    A senior Pertamina executive said the company will use this investment to increase production in the block by drilling 29 new wells next year.

    Meidawati, upstream strategic planning, portfolio and evaluation senior vice president at Pertamina, said the block offers a great potential as Pertamina will maintain its production and also will search for new reserves.

    “The Sanga Sanga block will be later integrated with the company’s other blocks such as Pertamina EP and Mahakam, so in the end it would become cost effective for the company,” Meidawati  said in a statement on Wednesday (08/08).

    Sanga Sanga will be operated by Pertamina’s subsidiary, Pertamina Hulu Sanga Sanga.

    “As representatives of the government, we appreciate VICO Indonesia’s contribution and hard work as Sanga Sanga oil block’s operator. Pertamina is now preparing for the transfer and will continue its operations,”  SKK Migas head Amien Sunaryadi said.

  • 4 leases available at Singapore Changi Airport

    4 leases available at Singapore Changi Airport

    Continuously ranked as one of the best in the world, Singapore Changi Airport is an experience rather than a simple stop towards your destination.

    The award-winning airport offers its visitors a wide range of attractions, from shopping to dining and entertainment experiences, spread across its four terminals.

    Changi Airport Group is currently looking for established retailers as it is seeking to lease four three years concessions with no renewal options in Terminal 1 at Departure/Transit Lounge West on Level 2. To offer diversity and complete their customers’ experience, they are seeking mid-price fashion brands to add to their portfolio.

    A CAG representative shared their desire for “exciting and unique mid-price fashion brands and concepts that will inject buzz to and differentiate the retail offering”.

    Effective from April 2019 to 2022, the lots range from 70 square meters to 110 square meters.

  • Pandora Thailand to axe staffs

    Pandora Thailand to axe staffs

    Danish jewellery manufacturer Pandora has announced it will cut 397 employees in organisational adjustments to align functions across the company and protect profitability.

    The proposed organisational changes are expected to reduce annual costs by around US$23.34 million from 2019, and will affect 218 employees based in Thailand.

    “We have made important progress on our 2022 strategy since we launched it last year, and are on the right long-term direction for Pandora,” said CEO Anders Colding Friis.

    “The adjustments we announce today will reduce complexity and free up resources that we can add to our strategic priorities. The adjustments are also – together with our procurement program – necessary to protect our profitability.

    “Sadly, the changes mean that good employees will lose their jobs, and we are supporting them in the best possible way.”

    The jewellery manufacturer also announced changes to “strengthen cooperation” between sales, marketing and merchandising; implement a centralised operations and supply chain structure to streamline manufacturing; and shift more resources to strategic priorities such as digital and e-commerce.

    Grey market

    The changes come less than a month after the company committed to reducing its retail prices in China in order to combat an emerging ‘grey market’, potentially losing revenue in a large area of growth for the company – having grown by double or triple digits each year since entering the Chinese market in 2010.

    The reduction amounted to an average of 15 per cent off retail prices, both on the online store and the Tmall flagship store.

    “This price reduction across our jewellery assortment is one element in our strategic programme to limit grey market trading of our products in China,” said Kenneth Madsen, president of Pandora Asia-Pacific.

  • Potato Corner opens in Singapore

    Potato Corner opens in Singapore

    Filipino fast food chain Potato Corner has launched at Somerset Mall in Singapore.

    Popularly known for its flavoured fries, the new takeaway stall on Orchard Road is the latest notch on the global belt of a franchise that has more than 1000 stores worldwide, with locations in large western cities including New York and Sydney, as well as Asian strongholds like Thailand, Cambodia and Indonesia.

    The chain has been operating since 1992, and this is its first foray into Singapore. Philippine Ambassador to Singapore Joseph Del Mar Yap, together with other embassy officials, were on hand to cut the ribbon at the launch event.

    The company has announced plans to open next in Vietnam.

  • IKEA India opens one more store with a ‘low price’ strategy

    IKEA India opens one more store with a ‘low price’ strategy

    IKEA, the world’s leading Swedish home furnishing retailer will open the doors of its Hyderabad store, its first in India to customers at 10:00 a.m. today.

    This is a landmark moment for IKEA after it got FDI approval in 2013 that allowed 100 percent FDI for single brand retailers in India. IKEA has been sourcing from India for its global stores for more than 30 years. Its plan to open retail stores in 40+ cities across the country, reinforces its long-term commitment and deep connection with India. IKEA has set out to become a truly unique, meaningful and trusted brand in India, making everyday brighter and better for the many people and this dream seems closer to reality today as we wait to see what the Hyderabad store will offer.

    On the occasion, Jesper Brodin, CEO, IKEA Group said, “Today is a proud moment as it marks a major milestone in a journey that started more than 30 years ago when IKEA partnered up with local manufactures in India. We have a long-term commitment to India, which is an important market for us. We bring an inspiring, affordable and convenient home furnishing offer and awe are more than ready to meet and understand the needs, frustrations and drams in the everyday lives of our customers in India.”

    The store is 4,00,000 sq. ft. large and is spread over 13 acres in the heart of Hyderabad’s tech hub HITEC City and promises to be a ‘fun day out’ for the family. It will offer 7,500 affordable, good quality, value for money home furnishing products, all under one roof. The store will remain open 365 days from between 10.00 a.m. – 11:00 p.m.

    The IKEA store in Hyderabad will offer ideas, inspiration and solutions. It will exhibit two full homes that reflect ‘Life at Home’ in Hyderabad, besides different room sets based on different parts of the home like bedroom, kitchen, children’s room and living room. It will also have a market hall where you will find home kitchen utensils and accessories, textiles, rugs, lighting, decoration, stationary and even live plants.

    The store will house a 1,000-seater restaurant, IKEA’s largest and possibly India’s largest restaurant, a cafe which will offer coffee, bakes, frozen yogurt and many more for purchase, a kids’ paly area named Smaland where customers can leave their children safely.

    The IKEA restaurant will offer 50 percent Swedish specialities like salmon and chicken and vegetarian meatballs and 50 percent local delicacies like biryani, samosas, dal makhni in the case of Hyderabad. The food will be very affordable, for example a plate of samosas will cost Rs 10.

    IKEA’S business idea is based on ambition of reaching the many people with thin wallets. As it sets a goal to reach 200 million people in the next three years , the foundation for a strong and relevant offer is affordability and accessibility. IKEA will attract the many different segments in society and not just the few. Everyone is welcome to shop at IKEA. 1,000 products will be priced below Rs 200.

    Peter Betzel, CEO, IKEA India said, “At IKEA the people, the community and our contribution to safeguarding the health of the planet is the biggest priority. Over the last five years Juvencio Maeztu and the team here have laid a very strong foundation and a solid base for IKEA to be successful. I thank all our friends in India including the government and officials for all the support and partnership to make this dream a reality.”

    In terms of the products, the company will be bringing its classic IKEA range along with a small percentage of locally relevant products for the Indian market like masala boxes, pressure cookers, tawas, idli makers, colourful sheets and mattresses made with coconut fibre centre. Customers will also be able to buy global classics like the BILLY bookcase, KLIPPAN sofa, LACK table and POaNG armchair among others.

    Welcoming the people of Hyderabad, Johan Achillea, IKEA Hyderabad Store Manager said, “I am excited to thrwo open the doors of the first IKEA India store to the many people of Hyderabad and its neighbouring community. Telangana has given us a lot of love over the last few years and now we hope to witness the people of Hyderabad truly enjoying our store that has been built with love. I thank the local officials who have made this day possible. The biggest value we bring its to the many people who have big aspirations for their homes and thin wallets. Our promise is one of value, of quality and of making the everyday life better at home for all of the many people in the state and beyond.”

    The IKEA store employs 950 co-workers in Hyderabad directly and 1500 indirectly in services and expects to host close to 7 million visitors each year.

    IKEA has a non-negotiable commitment to hire 50% women co-workers at all levels in India including forklift drives and assembling co-workers. It will also come with a strong and affordable service offer including delivery and assembly to help customers who are not familiar with the DIY (Do it yourself) concept just yet.

  • Brookstone files for bankruptcy for the second time

    Brookstone files for bankruptcy for the second time

    Quirky gadget retailer Brookstone has filed for Chapter 11 bankruptcy protection – again.

    But the company has a clear strategy for its survival: closing its 101 remaining mall-based stores in favour of focusing on expanding its airport retail concept – which now numbers 35 stores – selling goods online and wholesaling.

    Brookstone has secured US$30 million in bankruptcy financing from Wells Fargo and Gordon Brothers. It said the mall-based store business was no longer viable “following continued deterioration of traditional retail mall traffic”.

    But its airport, online and wholesale operations are “operating successfully and should prove attractive to a buyer with the financial resources and vision to carry our company into the future,” said CEO Piau Phang Foo in a statement.

    Brookstone was founded in 1965, selling “hard-to-find tools” through Popular Mechanics magazine as a direct-marketing business. It opened its first brick-and-mortar store in 1973.

    In 2014 it was placed in Chapter 11 before being rescued by China’s Sailing Capital and Sanpower Group for $174 million.

  • Prince’s building welcomes Chanel’s COCO Neige Pop-Up Store

    Prince’s building welcomes Chanel’s COCO Neige Pop-Up Store

    It’s freezing at Prince’s Building with Chanel’s COCO Neige Pop-up store.

    Chanel has just launched its very first collection of sportswear dedicated to winter sports featured in its new pop-up store at Prince’s building.

    Australian actress Margot Robbie, new ambassador of the French fashion house, embodies Chanel’s first ever ski and après-ski collection, COCO Neige.

    Designed and shot by Karl Lagerfeld, the line combines high-tech clothing and winter-ready-to-wear for the sporty fashion conscious.

    COCO Neige incarnates both the worlds of skiing and the codes of the House.

    From multicolor tweeds and classic handbag quilting to Norwegian-inspired sweaters and mountain accessories sporting the double C, Chanel’s most iconic symbols and elements have been brightly incorporated into the sportswear wardrobe.

    This collection comes a few year after the launch of Chanel’s own line of skis and snowboards a few years ago.