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  • Retail meets art in HK for Chinese New Year

    Retail meets art in HK for Chinese New Year

    Next week it Chinese New Year. It officially begins on February 5th, 2019, and ends on February 19th. This year will be the year of the Pig. It is the most important festival for Chinese people, so the city is fully decorated with festive installations. The retail world celebrates it with decorations and promotions. In Hong Kong, all shopping malls have already unveiled their gigantic installations.

    In the financial heart of the city,  the floral pinwheels have turned IFC into the Garden of Fortune.

    Dedicated to providing memorable and engaging experiences for guests beyond shopping and dining, the Chinese New Year is no exception for IFC mall as it presents The Garden of Fortune, a splendid installation featuring pinwheels to welcome good fortune and embrace new changes along with incorporating floral elements for a contemporary spin.

    From 26 January to 17 February 2019, shoppers can visit the interactive display and enjoy music performances to ring into an auspicious new year.

    Pinwheels have long been a symbol of luck with fascinating roots in Chinese culture. Traditionally associated with welcoming wealth, pinwheels are constructed using a variety of bright colors to greet the god of fortune, which are believed to bring prosperity and blessings to both homes and businesses. Playing on the Chinese tradition that pinwheels attract good luck, The Garden of Fortune is embellished with this auspicious symbol.

    The pinwheels are designed in the shape of peach blossoms, peonies and begonias – flowers that represent prosperity and fortune in Chinese culture – to empower guests with positive vibes as they walk through the Garden of Fortune.

    Upon entering the installation, guests are invited to play an interactive pinwheel game to start the new year with blessings to share and bestow upon friends and loved ones. ifc mall has collaborated with young local calligrapher, Rita Lee, to create downloadable “fai chuns” to share with family and friends after completing the game.

    Lee started learning Chinese calligraphy at the age of 6 and has nurtured her talent with over 20 years of experience. She is known for blending different styles to create art that balances the tradition of Chinese calligraphy with contemporary flair. “I’m excited about this partnership with ifc mall as it allows me to use my craft to extend blessings to all Hong Kongers who visit the Garden of Fortune,” says Lee. “The installation’s fusion of traditional pinwheels with modern floral elements also reflects the same juxtaposition in my style of calligraphy.”

    Pacific Place has built “Where Fortune Takes Flight” to welcome the Chinese New Year 2019. Queenie said that her design ideas come from the traditional Chinese New Year Candy box and chocolate from her childhood. Thus, they became the patterns of the kites, flying in the shopping mall. Queenie used vibrant colors and energetic brush strokes to draw on the kites, symbolizing a colorful and fruitful new year.An exquisite spring garden filled with blossoming flowers and over 60 flying kites, symbolising “Where Fortune Takes Flight”. Exclusively designed by Queenie Law, the kites soar to the highest heights and spread Chinese blessings throughout the mall and into the new year ahead.

    In Tsim Sha Tsui, Harbour City will welcome the Year of the Pig with the “HAPPIG New Year” celebration, featuring a seven-metre tall gigantic “Wishing Treasure Bowl” at Ocean Terminal Forecourt from 25 Jan to 19 Feb 2019.

    The treasure bowl is structured with multiple frames, on which colorful ropes were tied delicately to create geometrical festive patterns from cherry blossoms to gold coins.

    The contemporary design is a stylish take on the Chinese New Year classic, wishing everyone joy and fortune for the Year of the Pig.

    Newly introduced this year is an interactive wishing experience, inviting visitors to win a lucky pouch by taking part in a mini game and donating HK$20 near the“Wishing Treasure Bowl” installation.

    Each lucky pouch contains a Good Fortune Card with predictions for the coming year, and a “Wishing Gold Coin” which can be deposited into “Make a Wish Piggy Bank” for making a wish. The coin will roll through a lucky tunnel connecting the piggy bank to the gigantic “Wishing Treasure Bowl”, bringing fortunate blessings to everyone for the New Year.

     

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  • AirAsia strengthens Malaysia-Thailand connectivity with new Chiang Rai hub

    AirAsia strengthens Malaysia-Thailand connectivity with new Chiang Rai hub

    AirAsia has further strengthened Malaysia-Thailand connectivity with the launch of a new route from Kuala Lumpur to Chiang Rai, its seventh and newest hub in Thailand. AirAsia Thailand, which will base an Airbus A320ceo at Chiang Rai’s Mae Fah Luang International Airport, will also operate new services to Phuket, Singapore and Macau, providing a massive boost to the local tourism and business communities, the airline said in a statement.

    AirAsia currently operates a total of six routes to and from the capital of Thailand’s northernmost province, including existing services from Bangkok Don Mueang and Hat Yai.

    AirAsia Thailand director of ground operations Witchunee Kuntapeng said the opening of its new hub in Chiang Rai is much like building a new home.

    “Chiang Rai has great potential to be one of the top tourism destinations in Thailand, with its unique Lanna culture and hill tribe way of life recently gaining global attention.

    “We believe it is a great time to promote Chiang Rai to travelers and are pleased to see that our four new routes between Chiang Rai and Phuket, Macau, Singapore and Kuala Lumpur have been well received. We’d like to thank the local community for their wonderful support,” Kuntapeng added.

    A welcoming ceremony led by Chiang Rai vice governor Paskorn Boonyalug, Tourism Authority of Thailand executive director for the East Asia region Titiporn Manenate and local travel agents was held at the new hub for each of AirAsia’s four inaugural flights from Phuket, Macau, Singapore and Kuala Lumpur between Jan 30 and Feb 1, 2019.

    The flight from Kuala Lumpur saw a load factor of 85% percent, proving the airline’s efforts to promote Chiang Rai as a leading destination for overseas visitors was off to a great start, it added.

  • LG and Naver agree to work together on guide robot

    LG and Naver agree to work together on guide robot

    LG Electronics and portal operator Naver Wednesday agreed to jointly develop an advanced guidance robot based on the high-tech mobility platform. LG Electronics and Naver’s R&D subsidiary signed a memorandum of understanding (MOU) to collaborate on research and development of robot technology, expanding on their discussions made during the recent Consumer Electronics Show (CES) in Las Vegas.

    Under the agreement, the two Korean companies will explore ways to adopt Naver’s integrated location and mobility solution eXtended Definition & Dimension Map (xDM) in LG’s guide robot called Air Star to upgrade its function.

    The xDM platform is an advanced mobility technology that can be used in both indoor and outdoor settings and accurately analyzes location data in real time.

    “Based on LG Electronics’ know-how in artificial intelligence (AI) and autonomous driving, we will combine Naver’s software platform in our robots to provide differentiated value for our customers,” Roh Jin-seo, the head of the robotics business at LG Electronics, said during the signing ceremony at Naver Labs in Seongnam, south of Seoul.

    Naver debuted its AI and other robotic technologies during this year’s CES, drawing attention from industry officials around the globe.

  • 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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  • 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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  • 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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  • 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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  • Sandro parent unphased by trade spat

    Sandro parent unphased by trade spat

    The parent of affordable-luxury fashion labels Sandro, Claudie Pierlot and Maje appears unphased by the Sino-US trade spat, vowing to continue its expansion in the region. SMCP’s CEO Daniel Lalonde said in an interview that the company plans to continue to open new stores in Mainland China and invest in e-commerce across the region.

    “From our perspective, everything is still intact [in China]. Any slowdown in our business is related to the comparison base … and we still expect to grow that market by more than 20 per cent this year,” Lalonde said. “We’re still confident on the region.”

    France-based SMCP is controlled by Chinese company Shandong Ruyi. This week it reported an 8.1 per cent increase in fourth-quarter sales to €276.1 million.

    SMCP has doubled its annual sales during the past four years, reaching €1 billion last year, largely due to rapid expansion in Mainland China. Asia is now SMCP’s third-largest geographic market behind France and the rest of Europe, with China accounting for the bulk.

    However, he said sales in Hong Kong were “a little softer” as a result of currency fluctuations between the Hong Kong dollar and the renminbi.

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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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