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Tag: Charlotte Olympia

  • Charlotte Olympia US to stop business

    Charlotte Olympia US to stop business

    Charlotte Olympia US has collapsed, with all of its store closed.

    The US retail arm of the UK-headquartered luxury fashion and shoe retailer is believed to have debts amounting to US$19.2 million, and assets of just $3.2 million. It had four stores: in New York, Las Vegas, Beverly Hills and Orange County. A fifth store in Bel Harbour, Florida, was closed last year.

    In its bankruptcy filing, the company cited “unprecedented disruption in the retail market”.

    The stores were operated by Pinktoe Tarantula and its affiliates Desert Blonde Tarantula and Red Pump Tarantula.

    “The brick-and-mortar retail environment has been experiencing, and continues to experience, unprecedented disruption due to a confluence of factors, including the proliferation of online retailers, changing consumer tastes and demographics, and increased competition,” the companies said in the filing. “Despite selling the iconic Charlotte Olympia brand and taking steps to reduce their expenditures, the debtors’ operations are not profitable due to the widespread disruption in the retail industry.”

    Charlotte Olympia’s US wholesale business is unaffected by the bankruptcy of the retail operations.

    The fashion label was founded in 2007 by Charlotte Olympia Dellal and also has stores in the UK, Dubai, Thailand and Russia. Its clothes and shoes are stocked by upmarket department atores around the world, including MyTheresa, Saks and Bloomingdale’s, and online on Net-a-Porter.

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  • Lotte seeks more female managers

    Lotte seeks more female managers

    Lotte Group, a leading South Korean retail giant, vowed Thursday to nurture its female leaders to provide equal opportunities in its workforce.

    Group chairman Shin Dong-bin said in a forum that his conglomerate would increase female leaders to 30 percent of managers by 2020 from the current rate of 11 percent.

    “The group expects to have the first female CEO by 2020,” the chairman said, adding the group would continue to invest in building a family-friendly working environment.

    “More female talents are necessary for Lotte’s affirmative action plan to provide equal opportunities for members of minority groups,’’ Shin said during the fourth Way of Women, an internal annual event for female employees.

    About 500 female staff and executives in the group and its affiliated firms joined the event and shared their experiences and views for the development of female leaders.

    The conglomerate has adopted women-friendly policies, such as flexible working hours and support for career building.

    In its efforts to increase female talents, the company has continued to allocate 40 percent of annual job openings to women for the past few years, which has so far raised the rate of female managers to 11 percent from 1 percent in 2005.

    Lotte announced the new policy amid no signs of easing feuds among owner family members, including chairman Shin, over control of the conglomerate.

    Lotte said its Japanese shareholders support the current leadership despite the ongoing succession feud, in an effort to clear up uncertainties surrounding the preparation for listing its hotel unit.

    The listing of Hotel Lotte is one of the reform pledges that chairman Shin has made to assuage public disgust over a bitter family feud over control of the retail-focused conglomerate, which has sprawling business interests both in South Korea and Japan.

    The Korea Exchange, South Korea’s main bourse in charge of reviewing its initial public offering application, has demanded Lotte prove whether its corporate governance structure is stable enough to proceed with the current process.

    In response, Lotte said it has submitted a document showing that 60 percent of Lotte Holdings’ shareholders support the current leadership. Japan-based Lotte Holdings is the largest shareholder of Hotel Lotte with a 19.1 percent stake.

    “The Hotel Lotte IPO is expected to proceed without delay as major concerns have been cleared up,” a senior Lotte official said.

    “We will make efforts to complete its listing by the first half of next year.”

    The latest move came as Lotte has been mired in a leadership dispute between the group founder’s two sons ― Shin Dong-joo and Shin Dong-bin ― since last summer.

    The two sons had respectively controlled the company’s operations in Japan and Korea until earlier this year.

     

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  • Charlotte Olympia Thailand launches

    Charlotte Olympia Thailand launches

    Exclusive UK footwear designer Charlotte Olympia has opened her first store in Thailand, the second Asia market in its steadily growing international footprint. Charlotte Olympia plans to open four boutiques this year, the others in Las Vegas, South Coast Plaza in southern California and a second in London.

    “I’m so excited to be opening four new Charlotte Olympia stores this year. Our expanding global retail footprint marks a significant milestone in the development and growth of the brand,” said Charlotte Olympia Dellal, CEO and creative director, in a statement.

    “I’m delighted to be able to showcase my collections in environments which distinguish our offering.”

    Charlotte Olympia Bangkok 315

    The Bangkok store is on the ground floor of the Emporium shopping centre on Bangkok’s Sukhumvit Rd.

    The distinctive stores feature a design inspired by Hollywood glamour: leopard print seating, brass panelling and mirrored walls.

    Charlotte Olympia launched her first footwear collection at London Fashion Week in February 2008 and her first boutique store followed on Maddox St, London, two years later. New York followed in 2011 and Rodeo Drive, Beverly Hills in 2013. Last year she opened three stores – in Hong Kong, Miami and Dubai.

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