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Tag: asia

  • Who visited Korea in 2018?

    Who visited Korea in 2018?

    Chinese visitor arrivals in South Korea rose 14.9 percent year-on-year in 2018 to 4,789,512, according to new Korea Tourism Organization figures. Chinese arrivals in December 2018 rose 25.2 percent year-on-year. The results confirm a sustained recovery in Chinese tourism from March 2018 as Korean-Chinese relationships improved in the wake of the THAAD anti-missile system dispute that had devastated Chinese tourism for the previous year.

    For the first two months of 2018 Chinese arrivals slumped 43.7 percent, heavily influencing the year-end result.

    However, the 2018 performance was still far short of pre-THAAD levels. In 2016, 8,067,722 Chinese visited South Korea, 68 percent more than the 2018 tally and a 46.8 percent share of total arrivals, compared to last year’s 31.2 percent.

    Japanese market buoyant but political concerns rise

    The Japanese tourism market was buoyant in 2018, rising 27.6 percent to 2,948,527, a 19.2 percent share of arrivals. December saw a 33.5 percent rise year-on-year.

    The combination of concerted Japanese visitor growth and a strong yen has been reflected in increased duty free spending. A report by The Korea Herald said that January 2019 sales to Japanese consumers at Lotte Duty Free’s flagship store in Myeong-dong, Seoul (the country’s biggest travel retail door) had surged 31 percent year-on-year, compared to 15 percent for all nationalities.

    The same report said that Shinsegae Duty Free’s Myeong-dong store posted a 53 percent rise in sales to Japanese shoppers during the same period, while overall turnover at the flagship fell 1 percent.

    But prospects for a continued boom in Japanese tourism may be marred by a worsening political dispute, this time between South Korea and Japan. A military row began on 20 December following an encounter between a Japanese plane and a South Korean destroyer.

    The Japanese claimed that the South Korean warship aimed its fire-control radar at the aircraft while the Koreans contend that the ship was rescuing a North Korean ship drifting in international waters.

    Several more ‘fly-buy’ incidents since then have escalated tensions, leading to fears that the row could “snowball into crisis”, as CNN wrote.

    Departures of Korean nationals (along with Chinese and Japanese the key components of the Korean travel retail industry consumer mix) rose 8.3 percent year-on-year in 2018 to 28,695,983 and 3.8 percent in December to 2,495,279. The year ended much weaker than it began – five of the first six months saw double-digit increases, all of the final six months were under 6 percent.

  • KT Telecop warns people to secure homes for Seollal

    KT Telecop warns people to secure homes for Seollal

    KT Telecop, the security arm under mobile carrier KT, has warned people to be careful leaving their homes empty over the Lunar New Year period. On Tuesday, KT Telecop said most incidents occur during the first day of the holiday period, according to three years of big data it has collected during the Lunar New Year and Chuseok holidays.

    Theft is the most commonly reported issue, accounting for 59 percent of incidents, followed by property damage at 24 percent and fire at 17 percent.

    A spokesperson from KT said travelling families should keep a tight watch on their front doors and windows before leaving the house to prevent crime.

    For those intending to leave the house empty for a long time, KT suggests keeping some lights on at all times so it appears occupied.

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  • LVMH’s 2018 sales revenue hits record high

    LVMH’s 2018 sales revenue hits record high

    Following a record-breaking year of sales in 2017, LVMH recently announced that it has surpassed its earnings record in 2018. The French multinational luxury goods conglomerate revealed that it made an incredible €46.8 billion EUR (approximately $53.4 billion USD) last year. Additionally, the impressive feat comes with a record net profit growth of 18 percent.

    LVMH is noting that it was the profitability of Louis Vuitton and Dior that lead to its strong 2018 earnings. The fashion and leather offerings from the two labels has been credited with driving the double-digit increase in both revenue and profit.

    Moving into 2019, it is expected that Virgil Abloh and Kim Jones will be amplifying the popularity of the two houses.

    LVMH also noted a state of reorganization of the Marc Jacobs label, and looked back on the global response to Hedi Slimane‘s inaugural collections for CELINE.

    Aside from a mixed critical reception, LVMH is ambitiously looking towards Slimane’s place at CELINE.

    The results were roughly in line with analysts’ forecasts.

    Bernard Arnault, chairman and chief executive, said LVMH expected its brands and companies, which include Louis Vuitton, Christian Dior and Moët & Chandon champagne, to deliver continued progress in 2019 in spite of “an environment that remains uncertain at the start of the year”.

    Sales growth was steady in all regions in the fourth quarter except the US — similar to the performance earlier in the year, according to Jean-Jacques Guiony, finance director.

    Organic growth in Asia, excluding Japan, was 15 per cent compared with last year. Sales in Europe were up 7 per cent on the same measure, while in the US they climbed 8 per cent.

    “We see no particular sign of a slowdown in the China market,” he said, although purchases by Chinese customers had shifted slightly to the mainland from Hong Kong and other east Asian markets, perhaps because of a weaker renminbi. “The market sees the glass as half empty. We see it as half full.”

    Luxury goods companies and other exporters dependent on sales to China are bracing for the impact of the country’s economic slowdown and for possible fallout from any worsening of the US-China trade conflict.

    In recent days, companies including US chipmaker Nvidia and Caterpillar, which sells earthmoving equipment, have blamed China’s slowing growth for disappointing profit predictions.

    Mr Guiony said luxury goods consumers tended to be affected more by sudden shocks than by gradual changes in economic conditions. “If there was to be real trade war between the US and China — and we’re not there yet — that would have an effect,” he said.

    The company also performed well in Europe, Mr Guiony said. Although LVMH had to close early on several Saturdays because of the gilets jaunes protests in France, many customers had switched to Sunday shopping and there was no obvious impact on LVMH’s numbers in the latest quarter.

    LVMH said it was stockpiling champagne and cognac in the UK in case of severe disruption from a “no-deal” Brexit.

    “We’ve added four months of stock in the UK,” said Philippe Schaus, head of Moët Hennessy, the wines and spirits part of the group.

    Profit from recurring operations in fashion and leather goods, the core of LVMH’s business, rose 21 per cent last year, accounting for €5.94bn of the total. The highest growth in profit from recurring operations came from watches and jewellery, at 37 per cent, and the slowest from wines and spirits, at 5 per cent.

    The company said it planned to lift the total dividend by 20 per cent for the year to €6.

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  • Alibaba Group sales jumps high

    Alibaba Group sales jumps high

    Alibaba Group sales soared 41 per cent in the December quarter as its customer based neared 700 million. The Chinese company’s turnover for the three months reached US$17.057 billion and its net income attributable to shareholders $4.807 billion. “Our resilient operating and financial performance is a direct reflection of our persistent focus on better serving our growing base of nearly 700 million consumers across retail, digital entertainment and local consumer services,” said CEO Daniel Zhang. “Our growth is also driven by the power of Alibaba’s cloud and data technology that helps expedite the digital transformation of millions of enterprises.”

    Alibaba group sales from core commerce increased 40 per cent to $14.958 billion, while the cloud-computing division posted 84 per cent growth, turning over $962 million. The digital media and entertainment division achieved 20 per cent growth to reach $944 million.

    In a statement, Alibaba said its Taobao platform achieved “robust user growth and enhanced engagement”. Last December, its China retail marketplaces had 699 million mobile monthly average users, representing a quarterly net increase of 33 million. The annual active consumers on its China retail marketplaces was 636 million for the 12 months ended December 31, compared to 601 million for the 12 months ended September 30 last year, “reflecting successful user acquisition programs, such as referrals through the Alipay app”.

    More than 70 per cent of the increase in annual active consumers was from third-and-lower tier cities.

    Tmall thrives

    Alibaba said GMV on its Tmall business grew 29 per cent year on year in the December quarter, outpacing the industry.

    “This robust growth was driven by strength in the fast-moving consumer goods (FMCG), apparel and home furnishing categories,” the company said.

    During the quarter, Tmall signed up new brands to the platform including Valentino, Ermenegildo Zegna, Stuart Weitzman and Sergio Rossi which opened flagship stores and joined the Tmall Luxury Pavilion.

    Meanwhile, Alibaba’s proprietary grocery retail chain Freshippo (formerly Hema) continued to expand its footprint, “optimise its stores and introduce new initiatives that improve customer experience”. As of December 31, there were 109 self-operated Freshippo stores in China, primarily located in tier 1 and tier 2 cities, which continued to achieve “robust same-store sales growth” through the quarter.

    ‘Robust’ Lazada growth

    Alibaba’s Southeast Asian e-commerce platform Lazada achieved what the company described as “robust growth” in GMV. The company upgraded Lazada’s technology, which resulted in boosting the number of active users and achieved greater user engagement on Lazada’s mobile app.

    “We continue to invest resources to integrate Lazada’s business and technology operations into Alibaba with the aim of building a strong foundation for us to extend our offerings in Southeast Asia.”

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  • Netflix streams its way into Korean hearts

    Netflix streams its way into Korean hearts

    Netflix viewership is growing faster than ever in Korea. According to mobile app tracker WiseApp on Tuesday, 1.27 million Android users in Korea used the Netflix app in December last year. That’s nearly four times, or 274 percent, more than the beginning of the year, when just 340,000 Android users had used the app in January 2018. Nearly half, or 41 percent, of Netflix users were in their 20s.

    WiseApp estimated that there are around 900,000 paying Netflix users across all devices in Korea who spend a monthly 11.7 billion won ($10.5 million) combined on the platform.

    Netflix users are allowed to share their account with family members and friends, so the number of paying customers is always lower than the number of users. Netflix also offers a one-month free trial, giving first-time users unlimited access to the platform for a limited time.

    Onlookers have suggested a variety of possible explanations for Netflix’s growing success in Korea and the rest of the world.

    Park Yong-hu, an IT expert who has previously worked for Kakao and Baedal Minjok operator Woowa Brothers, believes the absence of advertisements allows Netflix original content creators greater freedom to come up with fresh and innovative material.

    “Platforms that host advertisements often run into the problem of whether to prioritize users or advertisers first,” said Park. “For companies like Netflix, however, where the client and user are the same, they have the advantage of being able to clarify their vision.”

    Netflix confirmed that it doesn’t try to limit creators.

    “Netflix never requests creators change their stories,” added a spokesperson from Netflix in Korea. “Creators are guaranteed that they will create the content they want and Netflix just helps to realize their dream.”

    Convenience is another feature winning over users.

    From smart TVs to tablets, there are over 1,500 different types of smart devices that Netflix currently supports. The 14,500 won premium subscription option in Korea allows up to four people to use the platform at the same time, even in 4K ultra-high definition.

    With Netflix’s Smart Downloads, users don’t even have to bother downloading shows themselves. The smart feature automatically deletes an episode a user has finished watching and downloads the next one.

    Netflix’s recommendation system also attempts to offer users enough content that fits their preference so that they keep using the service.

    “Netflix does not gather user data by categorizing them into groups like ‘a male bachelor in his thirties living in Seoul,’ but we instead [suggest shows] by looking at the types of content that they have watched and the reviews they have left,” said a Netflix spokesperson.

    Netflix’s vast potential was most recently demonstrated by the tremendous success of its original film “Bird Box” starring Sandra Bullock. In a move untypical for the company, Netflix took to Twitter to reveal that 45 million users worldwide had streamed the post-apocalyptic hit within its first week of release last month.

    This year, the streaming platform is ambitiously trying to make its debut in the Korean drama scene. It has already confirmed the launch of several original Korean drama series with genres ranging from teen-romance to zombie-thriller, and started strong with the release of “Kingdom” last week, starring famous actors including Bae Doo-na of “Cloud Atlas.”

    Some believe it will be just a matter of time before Netflix becomes a force to be reckoned with in the domestic drama industry.

    “The threat Netflix is posing to Hollywood means that even production and distribution of video content cannot escape the currents of the fourth industrial revolution,” said Park.

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  • Place to reate your own watch

    Place to reate your own watch

    The Mills officially opened at the end of 2018, becoming a new landmark that combines historical and cultural retailing, attracting a number of local brands in Hong Kong. The Mills is a revitalization project from Nan Fung Group scheduled for completion and actually completed in 2018. A destination consisting of a business incubator, experiential retail, and a non-profit cultural institution may be relatively unfamiliar to Hong Kong people; yet The Mills’ vision and history is a purely Hong Kong story.

    It witnessed the manufacturing heyday in the 1960s, and now it carries the legacy towards a future of applied creativity and innovation. Visitors can explore the continuity of an authentic Hong Kong story, where themes of textile and industry are woven into experiences of innovation, culture, and learning.

    Eoniq successfully raised funds for launching a project a few years ago on the Indiegogo crowdfunding network, which is for customers to make their own personalized unique watches at The Mills. Through engaging in different workshops such as designing automatic tourbillon, printing dial and burning blue steel pointer, customers may experience the watchmaking process.

    In recent years, Swiss watchmaking brands have opened shops all over Hong Kong, however, the Hong Kong local watch industry has also had a glorious history during the 1950 – 1980.

    Although local watchmaking has already faded out, Li Junguo (Quinn), one of Eoniq’s founders, decided to set up his own brand with two partners in 2014.

    “I started building up the brand after I left my work at McKinsey since 2011. It is because I am interested in watchmaking, so I find some fine caliber factory online, and  contact the French freelancer to help me ordering from France as the people from Swiss watch factory usually only speak in French,” he said.

    After buying the caliber from the factory, the brand will assemble the watch according to the custom design of the guests.

    In fact, Eoniq had opened stores in Sheung Wan and Tsim Sha Tsui K11 before, but the shop could hardly afford a monthly rental fee of 1 million HKD in Tsim Sha Tsui.

    In terms of online sales, Eoniq’s customer profile is diversified and located in different regions, namely, Taiwan, Malaysia, Australia, the United States, and Europe.

    “The Mills was interested in Eoniq, knowing that we were assembling the watchmaking on our own, and asked if we could make the watchmaking process transparent so that the visitors could see the process of watchmaking. Thus, we have been given a space on the ground floor at The Mills, which became our current flagship store.”

    For the Automatic Tourbillon design workshop, customers can engrave their name, special phrase, signature or pattern on the watch. With the assistance of a watchmaker, guests can assemble the watch by themselves.

    Guests can also add personal elements to the dial, such as handwritten words or patterns, and there is a traditional printing machine to allow customers experiencing the traditional printing method on the surface of the watches.

    “Our brand is getting bigger, so I hired more masters in watches, including a watchmaker who had previously worked in Omega. In addition to allowing our guests to design their own watches, we want to let more people understand the value of watchmaking.”

  • Onitsuka Tiger store in Singapore is biggest yet

    Onitsuka Tiger store in Singapore is biggest yet

    Onitsuka Tiger Singapore has opened its largest boutique in Ngee Ann City. As part of its efforts to become recognised as a fashion lifestyle brand beyond its sneaker business, the Japanese footwear firm’s new 165sqm store – the label’s fifth in Singapore – exclusively stocks the label’s Nippon Made collection as well as its usual retail offerings, focused on hand-made shoes following traditional Japanese methods.

    The store also sells Japanese-designed athleisure apparel and accessories in a store space fitted out with plush tiger toys.

    Onitsuka Tiger is owned by Asics.

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  • Korean firms team up on insurance

    Korean firms team up on insurance

    SK Telecom, Korea’s top mobile carrier, and Hyundai Motor will jointly enter the insurance business, partnering with Hanwha General Insurance to bring their technology expertise to the industry. The Financial Services Commission (FSC), the country’s top financial regulator, said Wednesday it has given preliminary permission for SK Telecom, Hyundai Motor and Hanwha General Insurance to build an online insurance company that primarily deals with miscellaneous non-life insurance on digital platforms.

    “If the process goes smoothly, it can open in the fourth quarter of this year,” said a spokesperson at SK Telecom.

    In six months, the investing units are required to raise the promised capital, complete recruiting and have the physical operation in place, after which it will file for final approval.

    The companies said the unit will focus on cars, pets and travel.

    Hyundai Motor said the insurer will develop a product that differentiates insurance fees depending on a policy holders’ mileage and other driving behavior. Also on the cards is a system that discounts fees when subscribers are found to drive in a safe manner by adopting a real-time analytical technique to monitor driving habits.

    The insurance firm aims to carve out its own niche with lower fees and relatively short contracts.

    “We want to offer attractive alternatives for consumers who found existing insurance products expensive and requiring long-term commitment,” said Jang Yoo-seong, head of the artificial intelligence (AI) and mobility division at SK Telecom.

    The idea is based on InsurTech, a combination of insurance and technology that has quickly risen to prominence in the global financial industry.

    According to a study by the Korea Insurance Research Institute, the market has been rapidly growing in recently years. Investment in InsurTech start-ups, which amounted to $2.6 million in 2013, surged to $11.9 billion in 2017.

    The global InsurTech market revenue is valued at $532.7 million in 2018 and is expected to reach $1,119.8 million by 2023, according to Research and Markets, a U.S. market tracker.

    Hanwha General Insurance will raise 75.1 percent of the capital while SK Telecom puts in 9.9 percent. Hyundai Motor invested 5.1 percent and Altos Ventures Korea, an investment firm, 9.9 percent.

    In total, the companies will funnel in a total of 85 billion won.

    If passed, the new insurer will be the country’s second internet-only insurance company after Kyobo Life Planet.

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  • Louis Vuitton celebrates the launch of Virgil Abloh’s SS19 collection

    Louis Vuitton celebrates the launch of Virgil Abloh’s SS19 collection

    For those that have been patiently waiting to get their hands on Virgil Abloh‘s debut Louis Vuitton collection, the highly anticipated Spring/Summer 2019 offerings are now available online. The online release comes shortly after Virgil opened up an exclusive pop-up at Chrome Hearts’ New York City flagship.

    The Yellow Brick Road Hand-Knitted Crewneck, Poppies Dorothy Graphic Windbreaker and colorful Calfskin Cut Away Vest serve as notable garments from the collection. Standout carrying options include the iridescent take on the classic Keepall Bandouliere 50, Soft Trunk Messenger Bag, Mini Polochon Messenger Bag and a host of holster-style utility pouches. Rounding things up is Virgil’s take on LV’s iconic Millionaire Sunglasses, early Jordan Brand model-inspired LV Trainer Sneakers, and the LV Creeper Ankle Boot Timberland homage.

    Check out some of the items above and head over to louisvuitton.com now to shop Louis Vuitton’s SS19 collection.

    In case you missed it, Virgil Abloh recently launched a comprehensive archive of his work.

  • Hong Kong retail rents tipped to turn

    Hong Kong retail rents tipped to turn

    Hong Kong retail rents are tipped for a modest rise of up to 5 per cent this year according to a research report from real estate advisor Savills. But the authors, Nick Bradstreet, MD, head of leasing and Simon Smith, senior director, research & consultancy, noted that this year has already got off to a positive start. “Landlords and retailers are wary given current uncertainties surrounding trade, stock market valuations, a weak renminbi and rising interest rates among other factors,” said Bradstreet. “But early indications are that the year has got off to a positive start.”

    Smith added: “The well-observed shift towards higher same day mainland visitor numbers and lower per capita spending continued last year and we believe that this year can expect more of the same.”

    Both prime street-shop and shopping-centre rents remained flat last year and rental growth had all but ground to a halt by the fourth quarter due to a weak sales performance, the report said.

    However, the new cross-border bridge and rail link led to a 40.3 per cent year-on-year rise in same-day mainland visitor arrivals in November to 3 million. The number of mainland tourists actually rose during the first 11 months of last year by 14 per cent.

    Smith said the increasing number of same-day visitors and a weak renminbi meant lower per-capita spending and unchanged retail rents by year end.

    “Retail sales growth decelerated to only 1.4 per cent in November, the slowest growth rate registered since June 2017; yet most retailers reported a better-than expected performance over the Christmas holiday period.”

    Thanks to the strong tourist demand, cosmetics and personal care products retailers are expanding rapidly in popular tourist districts such as Causeway Bay, Tsim Sha Tsui and Mong Kok. Food and beverage stores benefited, too, the report said.

    On the contrary, the fourth quarter saw zero rental growth over the previous quarter in prime street shops in most districts, except Tsim Sha Tsui (down -0.9 per cent quarter on quarter). Whilst shopping malls in Kowloon were largely responsible for the marginal decrease with a negative 0.3 per cent change over the third quarter, mall rents remained unchanged on Hong Kong Island and in the New Territories.

    “As a total of 2.3 million sqft of new supply will come on stream this year – the highest level since 2006 – the market fundamentals are expected to remain relatively stable.

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  • Handsome markets brands in Paris Fashion Week

    Handsome markets brands in Paris Fashion Week

    Handsome, a Korean fashion brand owned by Hyundai Department Store, brought two of its labels to Paris Fashion Week in an effort to expand on the global stage. System for Women and System Homme, the two Handsome brands, showcased their fall and winter collections in a rented showroom for eight days starting from Jan. 17. The Handsome event included a presentation of the collections followed by showroom events, where item were modeled for clients.

    The brands are presenting their new collection one season early to major buyers in the fashion industry.

    In addition to 180 buyers, the event was attended by the Wall Street Journal, Vogue and GQ as well as by fashion influencers.

    It was the first time Handsome has taken its brands to a foreign showroom since being founded in 1987.

    System for Women debuted in 1990 and System Homme in 2008. The company has also introduced other names, including Time, Mine and SJSJ.

    Handsome was acquired by Hyundai Department Store Group in 2012.

    At the Paris event, which featured 200 items for men and women, around 40 department stores from 14 countries participated. Samples were purchased ahead of possible quantity orders.

    It was a buyers’ who’s who. The list included representatives from Bloomingdales, France’s Le Bon Marche, Hong Kong’s Lane Crawford, Japan’s Isetan and Shanghai’s 10 Corso Como. Inquiries also came in from parties in Switzerland and Israel.

    “We predicted the number of businesses that would visit our showroom would be 40 at maximum. But since System Homme was introduced via major media outlets and social media after the presentation on Jan. 18, a great number of fashion businesspeople visited,” said a source from Handsome.

    The company said that visitors appreciated the designs as being unique and set apart from other major Asian brands.

    “In the case of businesses that received the samples, they will decide on quantity purchases in February, and in June, the main products of System [for Women] and System Homme will be sold at department stores and in multibrand shops of each country,” said a source from Handsome.

    Handsome is planning to use the Paris showroom event as a stepping stone for its international expansion efforts.

    In line with the strategy, it will complete its product development earlier and present new design concepts to the market one season ahead.

    It is rare for a ready-made brand to utilize this sort of advanced development.

    “Our brand is still new in the global fashion market, but we will elevate awareness to the point where we could open an exclusive fashion show at a foreign fashion week,” said Kim Hyung-jong, the CEO of Handsome.

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  • Shinesegae targets US$90 million with a new brand

    Shinesegae targets US$90 million with a new brand

    Major South Korean travel retailer Shinsegae Group is set to launch an in-house developed cosmetics line, Yunjac, into the duty free channel at its Myeong-dong store in the capital city, Seoul. An ambitious sales target has been set for the brand. The opening on 2 February of an independent Yunjac cosmetics area adds to existing domestic market locations in Jung-gu and Gangnam in Seoul, and Centrum City in Busan. The brand was launched in October 2018.

    Fashion, beauty and lifestyle specialist, Shinsegae International, which developed the 42-strong product line, has told The Moodie Davitt Report that it aims to make US$90 million in sales by 2020. Four travel retail exclusive sets are part of the product range.

    The duty free exposure will promote Yunjac to a wider audience, with a particular focus on Chinese travellers. A Shinsegae Duty Free spokesman said: “The Myeong-dong store is a trendy shopping place where you can easily experience the world’s most popular brands. We will try our best to be the centre of world beauty. The line is targeting the global market including China.”

    Yunjac, which means ‘nature’s masterpiece’, is chiefly built around skincare with some makeup and other smaller segments, also part of the portfolio. It is the result of several years research and preparation by Shinsegae International. The product development was a joint effort with global cosmetics maker Intercos and world-renowned botanical research institute Vitalab.

    The manufacturing process involves extracting active ingredients from the best Korean herbs and combining them with state-of-the-art science. The end result is what Shinsegae describes as “the whole plant effect” which is claimed to restores the skin’s natural strength.

    Yunjac’s 42 products are priced at around US$30 for cleansing products, US$100 for skincare and US$50 for mother and infant items, according to Shinsegae Duty Free.

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  • The coolest men’s sneakers from Paris Fashion Week

    The coolest men’s sneakers from Paris Fashion Week

    Paris Fashion Week Men’s was not lacking in head-turning street-style looks this year. Attendees brought their sartorial A-game to take in new fall ’19 collections from the hottest designers. A guest paired trendy Off-White socks with shiny silver Maison Margiela sneakers that featured a chunky platform sole and an iridescent finish. Cuffed denim jeans highlighted the pairing perfectly.

    Elsewhere, a guest showed off J.W. Anderson’s new Converse collab sneakers, which feature a rubber jagged platform sole. The high-tops debuted on the catwalk at Anderson’s spring ’19 show.

    Meanwhile, Adidas x Alexander Wang Turnout Mint White runners caught our attention with its chunky midsole design, a mash-up inspired by several previous Adidas sneakers.

    The Nike x A-Cold-Wall Zoom Vomero +5, designed by Samuel Ross, undeniably stands out with its enlarged heel counter. The style, which dropped in November, blends retro and futuristic elements.

    Lastly, the oversized red and white contrast leather sneakers by Alexander McQueen, which Timothée Chalamet has worn on the red carpet, of course, made an appearance at fashion week.

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  • Grofers crosses Rs 300 cr sales in single month

    Grofers crosses Rs 300 cr sales in single month

    Grofers, the low price online supermarket, announced the record revenue of Rs 310 crore in January 2019. With this, Grofers became the first online grocer to cross Rs 300 crore in monthly sales and also became the largest e-grocery company in the fast growing space. Aligned with its aim to drive the next wave of growth for e-commerce sector, the company has brought 2.5 lac new customers to its platform in January. The brand is eyeing a revenue target of Rs 2,500 crore for FY 2019.

    On the back of the industry’s biggest grocery sale – Grand Orange Bag Days, Grofers recorded an average of 14 lakh visits per day on the app. During this period, a total of 1.81 crore items worth Rs 207.5 crore were sold. With an average ticket size of Rs 2,640 and 20 items per cart, Grofers recorded highest customer engagement in Delhi NCR followed by Mumbai and Bengaluru.

    Speaking on the success Albinder Dhindsa, Co-Founder and CEO, Grofers said, “We are excited to emerge as India’s favourite e-grocer. We have received a tremendous response in the Grofers Orange Bag Days sale and we will sustain the momentum going forward. We are geared to bringing better priced grocery products to 100 million customers and this is just the start.”

    Customers received jaw dropping offers during Grofers Grand Orange Bag Days sale. Grocery and staples were the highest selling items followed by household items (detergents and dishwash bars) and personal care products. During this time period, Grofers recorded a 80 percent increase sales of Grofers branded products as well.

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  • LVMH is “eyeing stakes” in OFF-WHITE‘s parent company

    LVMH is “eyeing stakes” in OFF-WHITE‘s parent company

    LVMH is “eyeing stakes” in OFF-WHITE‘s parent company, New Guards Group, WWD reports. If the rumors are true, the move would bring LVMH Moët Hennessy Louis Vuitton even closer to fashion’s main man, Virgil Abloh, the founder of OFF-WHITE and artistic director of menswear at Louis Vuitton.

    New Guards Group Holding SpA is a Milan-based holding company that also looks after OFF-WHITE as well as Palm Angels, Heron Preston, and Marcelo Burlon County of Milan.

    This is not the only venture on the cards over at LVMH at the moment, either. The company is reportedly also making moves to create Rihanna her own luxury fashion house.

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