Tag: Clothing

  • Solid H&M results show transformation plan is paying off

    Solid H&M results show transformation plan is paying off

    Increased full-price sales and lower markdowns signal that H&M’s multi-pronged transformation plan is paying off, according to GlobalData analyst Kate Ormrod.

    H&M fourth-quarter sales were affected by the later timing of Black Friday last year, compared with 2018, however that failed to dent an impressive turnaround performance from the Swedish fast-fashion retailer which 12 months ago was struggling to move significant excess inventories. In the second quarter it returned to profitability and Ormrod says a greater focus on online sales, supply-chain management and the fine-tuning of its physical store network have been sound.

    Net sales increased by 11 per cent to US$24.2 billion for the full year and gross profit increased by 9 per cent to $3.5 million. Its fastest growth rate was in India where sales rose by 33 per cent, although the brand is still relatively new to that market.

    Outgoing CEO Karl-Johan Persson, who will soon take over his father’s role as chairman, said the positive performance shows the company is “on the right track”.

    “In view of the ongoing transformation of fashion retail, we have been making significant and necessary investments for several years to secure the H&M group’s position and long-term development,” he said.

    Ormrod says while H&M still has some work to do in order to fully satisfy consumers’ demands, she expects the company to continue to benefit from its vast future-proofing initiatives this year. Net sales over December and January rose by 5 per cent in local-currency terms, up from 4 per cent last year, “emphasising that its appeal and relevance have not wavered,” she said.

    “Optimising its brick-and-mortar business remains a priority with H&M planning to open a net of just 25 stores in the current financial year, with physical expansion in growth markets such as South America and Eastern Europe almost offset by the closure of about 175 stores, primarily in Europe, the US and China.

    “Pressure remains to elevate its remaining stores with a need to drive consistency in in-store presentation and experience at its core H&M fascia. The retailer’s focus on sustainability is market-leading and apt given growing consumer interest, enabling it to deliver fast fashion with a conscience and at the same time casting shade on competitors such as Inditex. However it must continue to invest in areas such as value for money and quality that truly matter as purchase motivators among the majority of its shoppers in order to deliver results.”

    Meanwhile, Helena Helmersson, H&M’s former COO, has taken over as CEO, the first woman to head the company.

  • BlinQ to offer Yoox catalogue in SE Asia

    BlinQ to offer Yoox catalogue in SE Asia

    Bob Chua, founder and CEO of BlinQ​, says the partnership will give Southeast Asian consumers easy access to thousands of new products from high-end brands. “We have been growing quickly, and this partnership provides a greater depth of brands and products to our users in the Southeast Asian region.”

    Chua says BlinQ has more than 30,000 users joining the platform every month and it now boasts high-end brands including Prada, Off-White and Kenzo.

    For Yoox, which has 3 million customers worldwide, the deal will allow it to expand its Southeast Asian customer base.

    The Yoox deal closely follows BlinQ’s launch of a pre-loved offer and Asean Houz – a collection of high-end fashion brands from around the region.

  • H&M launches Monki stores in the Philippines

    H&M launches Monki stores in the Philippines

    H&M Group is to launch Monki in the Philippines, the second Southeast Asian market for the Swedish fashion group’s diffusion brand.

    The first store for Monki in the Philippines will open later this year at SM Megamall in Manila and will be followed by a second at SM Mall of Asia.

    “Monki’s mission is to empower young women everywhere and help them feel good about themselves,” said Jennie Dahlin Hansson, MD at Monki. “We can’t wait to get to know a new market and welcome new customers to our global family.”

    Monki in the Philippines’ first store will be designed with glitter, mirrored walls and scallop detailing, in line with the brand’s format in Europe, according to a spokesperson.

    Founded in 2006 in Sweden, Monki joined the H&M group two years later. The company operates 127 stores across 19 countries and regions. The Philippines is the brand’s second destination in Southeast Asia after Malaysia.

  • H&M’s Cos China to launch clothing rentals with YCloset

    H&M’s Cos China to launch clothing rentals with YCloset

    H&M Group’s higher-end clothing brand Cos is to trial renting out its clothes in China through rental platform YCloset.

    Swedish retail company H&M Group said it has partnered with YCloset to run a three-month trial to explore the circular business model.

    “The rental subscription has an additional sustainable aspect to it, as customers will be able to buy the product for a reduced price when the rental period is over, giving them another chance to enjoy the garments,” said the company.

    Cos MD Marie Honda said that the brand’s quality will lend itself well to the rental system. The brand is described by the group as one that merges high fashion attributes with ground-level pricing.

    “Cos collections are designed and made to last; longevity has been an integral part of the Cos design ethos since the brand began 12 years ago,” she said.

    H&M Group said YCloset’s 15 million registered users will enable the group to learn more about Chinese customers and their demographics.

    In November, H&M launched a rental service through its Stockholm flagship store, which also offers repair services with an atelier where customers can get their fashion favorites mended or upgraded.

    The clothing rental service market was estimated at US$1 billion last year.

  • Hong Kong leather label Rabeanco opens its fifth store in Singapore

    Hong Kong leather label Rabeanco opens its fifth store in Singapore

    Hong Kong leather specialist brand Rabeanco has opened a new flagship store at Changi Jewel, its fifth store in Singapore.

    The new store features a selection of travel convertible bags which can be used as both backpack and shoulder bags. Rabeanco also offers a full range of leather footwear crafted in premium leather including mules, slingbacks, and heels.

    “We design our products for women who are constantly on the go and in need of highly functional yet chic designer leather products,” says Rabeanco’s spokesperson. “We are one of the first brands to introduce premium light-weight leather. This way, women can look stylish without feeling the weight on their shoulders.”

    The price of leather footwear products range from SG$180-330.

    Founded in 1992, Rabeanco operates more than 30 outlets across four markets including Singapore, Hong Kong, Macau and China.

  • Missoni opens flagship store at Singapore’s Marina Bay Sands

    Missoni opens flagship store at Singapore’s Marina Bay Sands

    Luxury fashion retailer Missoni has launched a flagship store at Marina Bay Sands in Singapore

    The 150sqm store stocks a range of womenswear, menswear, beachwear and accessories. A central product featured at the launch is the brand’s new M Missoni collection, created by designer Margherita Maccapani Missoni.

    The launch was celebrated with a cocktail party, attended by local media and celebrities as well as the firm’s creative director and president Angela Missoni.

  • Uniqlo Korea sparks controversy

    Uniqlo Korea sparks controversy

    Uniqlo Korea has sparked yet another round of controversy, this time by distributing free Heattech shirts as part of a new marketing offensive.

    The Japanese apparel company, as part of its 15th Anniversary promotional event, is giving away 100,000 heat-tech shirts on a first-come, first-served basis to all customers purchasing a product, regardless of the price, at Uniqlo Korea offline stores.

    Since the promotion can end early if daily quotas are reached, it wasn’t difficult to find people lining up at stores early in the morning, causing an uproar on South Korean social media.

    Despite the negative reaction, Uniqlo distributed a press release to promote the giveaway, demonstrating its intention to address the public head-on by turning it into ‘noise marketing’.

    South Koreans are increasingly divided over the issue as social figures are joining the debate.

    “The number of customers at Uniqlo soared ever since the giveaway, despite the fact they can’t choose the size or color of the shirt,” said Prof Seo Kyung-duk from Sungshin Women’s University, a Korean PR activist.

    “Why do we have to go there, out of all places, to get free clothes?”

    In contrast, others implicitly argue that, while they respect one’s own belief, the boycott movement should not be forced on anyone.

    The fact that Uniqlo products are being sold online, while offline stores are empty, shows there is a large population of so-called ‘shy Uniqlo’, ‘shy Japan’ consumers in the country.

    Uniqlo Korea sales have plunged in recent months due to an ongoing boycott of Japanese brands and retail networks relating to a lack of apology over the occupation of Korea during the Second World War.

  • Hong Kong streetwear retailer Popcorn General Store opens in Manila

    Hong Kong streetwear retailer Popcorn General Store opens in Manila

    Hong Kong urban fashion retailer Popcorn General Store has launched in the Philippines at Ayala Mall Manila Bay in Pasay City.

    A PhilStar report lists a range of popular streetwear brands available at the store such as Supreme, ASSC, Chinatown Market, Rip N Dip, Wood Wood, Magic Stick, Ise, FR2, Carrots FDNMTL, and BBC.

    Popcorn also retails lifestyle products such as limited edition phone cases, skateboard decks, lighters, caps and keychains.

  • Esprit results signal looks promising

    Esprit results signal looks promising

    Embattled fashion retailer Esprit believes its first-quarter results prove its restructuring program is on track.

    The Hong Kong-listed company recorded a year-on-year global sales decline of 10.8 percent in local currency terms. But in a stock-exchange filing, the company said the pressure from falling sales was “more than compensated by significant cost savings which led to an improvement in our operating results”. The company did not release profit figures, only sales data.

    In the filing, Esprit said management was “encouraged by the progress made” in the three months to September 30 and “is confident that the group is on the right track to recovery”.

    Esprit sales in Asia fell 44.4 percent from HK$314 million (US$40 million) to $175 million ($22.3 million), however the brand performed better in Europe where sales fell 11.6 percent (or 7.4 percent on a currency-neutral basis) from $3.02 billion ($385.5 million) to $2.671 billion ($340.9 million). Total group sales were $2.846 billion ($363.3 million), the 10.8 percent decline comparing favorably to a 14 percent decline in company-controlled retail space.

    The company said in the core European market, which accounts for 85.7 percent of its revenue, it achieved small comp-store sales growth in August and September. A reduction in discounting saw comp-store gross profit improve, but it did not release figures.

    In Germany, wholesale sales which have declined every quarter for seven straight years, improved by 1.8 percent in the latest quarter.

    “This is an encouraging development thanks to ongoing progress made in building a best-in-class wholesale model to serve our wholesale partners,” the company said.

    Again, while not releasing figures, Esprit said reduced operating expenses due to reduced headcounts, the closure or resizing of unprofitable stores, and a persistent discipline on cost control and efficiency measures enabled it to reduce operating expenses “significantly”.

  • H&M unveils small format retail stores in Berlin

    H&M unveils small format retail stores in Berlin

    Fashion retailer H&M has opened a new ‘hyper-local flagship’ in Berlin’s creative Mitte Garden district.

    The 300sqm store, one of the brand’s smallest worldwide, offers curated womenswear, selected external brands, vintage pieces and a showroom for customers. It features curated fashion from H&M’s own assortment as well as selected external brands, most of them Berlin-based.

    The selected assortment is paired with a digital tool offering H&M’s full range where customers can browse and build their looks on their own or aided by a stylist.

    “It’s a test for us as a global retailer to elaborate around how we can be more personal and locally relevant,” said H&M Group laboratory business developer Anna Bergare.

    H&M Mitte Garten will regularly offer events such as lectures, fashion talks, and yoga for its customers. Upcoming trends and looks will be presented in the public showroom. Here consumers can try on and borrow pieces to make sure their future purchases are consciously made.

    “This is a unique location and it has served as a meeting place for Berliners for more than 100 years,” said H&M Germany country manager Thorsten Mindermann. “[It’s] a tradition we want to honor. We aim to offer a neighborhood store serving as a platform for local and global talents within retail, culture, and art.”

    Rentals move in Sweden

    The opening comes as the brand gets ready to debut clothing rentals in its Stockholm flagship store. The brand is offering the chance to rent selected party dresses and skirts from its 2012–2019 Conscious Exclusive collections to members of its customer loyalty program.

    “We have looked at clothing rental for quite some time and are so happy to for the first time soon offer fashion fans the possibility to rent some stunning pieces from our Conscious Exclusive collections,” H&M said head of sustainability Pascal Brun. “We look forward to evaluating this as we are dedicated to change the way fashion is made and consumed today.”

    Members will be able to rent up to three pieces a time for a week at a cost of around SEK350 (US$36) per piece.

  • Marie France Van Damme launches Fall 2019 capsule collection

    Marie France Van Damme launches Fall 2019 capsule collection

    Hong Kong-based fashion designer Marie France Van Damme has released a new capsule collection.

    Retailing from US$500–$2000, the new Fall 2019 capsule collection is available as of this month.

    Photographed by Edwin Datoc in the industrial alleys of Kwun Tong in Kowloon – an area is known for its textile industry history and that also houses Marie France Van Damme’s office and atelier for the last 30 years – the campaign features model Hou Jing Cui set against the cityscape.

    “I think of my new capsule collection as the perfect blend of East and West,” said Marie France Van Damme. “Kowloon is the perfect backdrop for my latest collection inspired by the city I love and call home. We are proud of our atelier’s history and heritage and excited to share our new campaign.”

    The collection uses the designer’s signature black, white, and gold palette in luxurious fabrics from French lace to metallic-toned Italian weaves and light Chinese silks. New this season is a collection of full-length lightweight cotton and wool tweed coats.

    Marie France Van Damme has 13 boutiques and more than 100 retail locations in international destinations from London to Dubai.

  • Uniqlo South Korea courts controversy as it attempts comeback

    Uniqlo South Korea courts controversy as it attempts comeback

    Facing an unprecedented boycott campaign Japanese fashion retailer Uniqlo has launched a comeback campaign in South Korea – only to stumble almost immediately.

    Uniqlo South Korea’s new television commercial rekindled controversy following complaints that the ad made fun of Japanese sex slaves.

    Following the boycott movement which dates back to July, Uniqlo closed four stores in South Korea before opening three new stores over August and September. The company also reopened two original stores following renovations.

    Uniqlo plans to hold a seminar for job seekers this month as it prepares to hire new employees next year.

    This time, a new program has been set up to connect job seekers directly with Uniqlo staff, which is seen as a strategic move to recover its reputation in the country.

    Uniqlo has also been offering a 50-per-cent discount for some of its signature products since October 3 to celebrate the 15th anniversary of Uniqlo Korea, which is being seen as an unprecedented move even for Uniqlo that has been offering various discounts on a regular basis

    Uniqlo Korea’s new English advertisement, however, has sparked outrage among locals, placing the company at the mercy of South Korean consumers yet again.

    In the commercial, a teenager asks a 98-year-old lady what she wore when she was her age, to which the old lady answers “I can’t remember that far back.”

    The Korean subtitles, however, say “My God, how can I remember something that happened more than 80 years ago?”

    The commercial became an instant controversy among South Koreans, with many seeing the subtitles expressed as being scornful of the 1930s, which was about 80 years ago, when the Japanese empire forced Koreans into military service and sex slavery.

    Uniqlo denied all of the allegations but soon decided to take down the commercial all together.

    In response, Yoon Dong-hyun, a student from Chonnam National University, shot a video clip with Yang Geum-deok, a sex slave victim, imitating the Uniqlo commercial.

    In the video, Yoon asks Yang how difficult her life was when she was his age. Yang answers “I can never forget the horrible pain that I suffered back then.”

    “The video clip was made to tell Japan how it must have felt for the victims during those times,” said Yun.

  • Uniqlo to open first Vietnam store in Saigon

    Uniqlo to open first Vietnam store in Saigon

    Japanese casual wear retailer Uniqlo plans to open a 3,000-square-meter store in downtown HCMC at the end of this year.

    Its first store in the country, at Parkson Saigon Tourist Plaza in District 1, would be one of its biggest in Southeast Asia, the company said in a release. It will sell clothes for men, women and children.

    Uniqlo earlier this month established its Vietnam business with a charter capital of $8.8 million, with apparel company Fast Retailing Singapore owning a 75 percent stake and Japan’s Mitsubishi Corporation the rest.

    Uniqlo, which is already in Singapore, Malaysia, Thailand, the Philippines, and Indonesia in Southeast Asia, had 213 stores in the region by the end of last year and plans to have 400 by 2022. It now has over 2,200 stores in 24 countries and territories.

    Uniqlo’s arrival in Vietnam is sure to intensify competition between foreign brands like Zara and H&M, who came two years ago and have outlets at major malls in both HCMC and Hanoi.

    Vietnam’s fashion market is estimated to grow to more than $3.8 billion this year and over $5 billion by 2021, according to BMI Research.

  • Giordano sales down across China

    Giordano sales down across China

    Giordano sales slid by 8.6 percent in the three months to September, or by 7.1 percent if measured by constant exchange rates. Comparable same-store sales fell by 10.3 percent.

    The damage to Giordano sales was largely borne in Hong Kong and Mainland China, where protests have hit inbound mainland tourist numbers since June and Chinese are spending less, spooked by the ongoing Sino-US trade war.

    Giordano sales in Hong Kong and Macau fell from $226 million to $169 million and in Mainland China from $251 million to $208 million.

    However, the China decline was mitigated in part by a strong performance in Giordano’s relatively new Middle Eastern markets. Sales there rose from HK$134 million to $153 million.

    Wholesale sales were constant.

    Despite the Hong Kong sales decline, Giordano maintained a network of 75 stores in Hong Kong during the period, the same number it had a year earlier.

    Group sales for the quarter totalled $1.075 billion, down from $1.176 billion a year earlier. Year-to-date sales (for nine months) were down from $4.036 billion to $3.617 billion.

  • First Steve Madden store opens in Malaysia

    First Steve Madden store opens in Malaysia

    Steve Madden has opened its first store in Malaysia in partnership with retail group Valiram.

    Following success in Singapore, Steve Madden Malaysia marks the label’s second boutique launched by Valiram.

    “It is an absolute privilege for us to present yet another new-to-market lifestyle brand to Malaysia. Steve Madden is a trend leader that is intrinsically urban with an edgy attitude, and we’re certain it will make an impact with the fashion-forward shoppers in Kuala Lumpur,” said Ashvin Valiram, executive director of Valiram.

    Located in Mid Valley Megamall Kuala Lumpur, the 1410sqft store features the brand’s new design concept “Distilled Urban”, the incorporation of wood, steel and concrete, inspired by contemporary New York City chic.

    The Steve Madden Malaysia store also featured the new Fall 2019 Collection at its opening event.

    Founded in 1935, retail group Valiram operates more than 380 stores across Asia Pacific, presenting international brands including Michael Kors, Tumi and Victoria’s Secret.