Retail News CRM

Tag: crossover

  • Japanese label Onward to slash store network

    Japanese label Onward to slash store network

    Japanese label Onward is preparing to shutter around one in five of its global outlets.

    The move preempts the firm’s crossover towards e-commerce at a time when its physical stores – most of which sell from department stores in Japan – are experiencing a drop in customer demand.

    Onward is expected to adjust its financial forecast in line with anticipated costs arising from the store shutdowns resulting in a net loss of around ¥30 billion (US$278 million). The firm has not recorded a loss within the past 11 years.

    Employees of the Japanese label Onward who are affected by the closures are likely to be reassigned to roles in expanding the brand’s e-commerce business.

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  • Ford Unveils Their Puma Crossover

    Ford Unveils Their Puma Crossover

    Ford has revealed the first image of the Puma – an SUV-inspired compact crossover and the company says that it comes with hybrid technology. The Puma will go on sale in the global markets by the end of 2019 and will be manufactured at the company’s Craiova Assembly Plant, Romania, following nearly 1.5 billion Euros investment since 2008.

    The first image of the Ford Puma reveals its styling cues and we can see the distinctive wing-top mounted headlamps and the curves on the side of the car which brings out the athletic side of the car and also showcases the aerodynamic ability too. The company has not said much about the ride height but does mention that the luggage capacity is 456 litres.

    The company says that discussions with customers have led to it providing for flexible luggage space. The Puma’s innovative rear stowage can swallow small furniture and the company says that the versatile storage compartment is capable of comfortably accommodating two golf bags in an upright position.

    Under the hood is Ford’s 1-litre, 3 cylinder EcoBoost Hybrid technology which delivers 153 bhp and a belt-driven integrated starter/generator (BISG) enables recovery and storage of energy usually lost during braking and coasting to charge a 48 volt lithium-ion air-cooled battery pack.

    The BISG also integrates with the engine and uses the stored energy to provide torque substitution – which reduces the amount of work required from the petrol engine to maximise fuel savings, and torque supplementation – which increases the total torque available from the powertrain for optimised performance.

    The Puma joins Ford’s expanding line-up of SUV and SUV-inspired crossover models in Europe, including the Fiesta Active, Focus Active, EcoSport, Kuga, Edge, and the all-new Explorer Plug-In Hybrid among others. The SUVs now account for more than one in five Ford vehicles sold in Europe, and sales rose more than 19 per cent in 2018.

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  • Rimowa x Bang & Olufsen crossover link between Adventure and Sound

    Rimowa x Bang & Olufsen crossover link between Adventure and Sound

    Rimowa has announced its first collaboration with luxury audio and lifestyle brand Bang & Olufsen.

    In their first Rimowa x Bang & Olufsen crossover, the two firms have created a pair of limited-edition Beoplay H9i headphones designed to characterise the brands unique approach to style, fashion and functionality.

    “Rimowa and Bang & Olufsen share a passionate approach to purposeful and elegant design,” said Rimowa CEO Alexandre Arnault. “Both of them celebrate aluminium in their products. To strengthen the natural relationship between sound and travel, we have proudly partnered to create the Rimowa x Bang & Olufsen Beoplay H9i headphones.”

    “For more than 90 years, Bang & Olufsen has striven to be more than an audio company, a brand that stimulates people’s lives through a passion for sound, design and craftsmanship,” said Bang & Olufsen executive VP, brand and markets, John Mollanger.

    “With Rimowa being much more than a luggage company – a brand that makes travel an art and that disrupts its own marketplace – we are honoured and proud to have an ideal partner. The first materialisation of our collaboration, the Rimowa edition of our flagship Beoplay H9i headphones and exclusive Rimowa carrying case, will make the world travel at the speed of sound.”

    The limited edition headphones will be available at HKD7250 (US$923.50) starting April 15 in select Rimowa and Bang & Olufsen stores as well as online at bang-olufsen.com.

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  • SUVs, Crossovers dominate high-end segment in Vietnam

    SUVs, Crossovers dominate high-end segment in Vietnam

    Among consumers willing to spend at least VND1 billion ($43,135), the preference is for SUVs and Crossovers over sedans. In recent years, high ground clearance vehicles have gradually become the number one choice for the majority of Vietnamese consumers, having grown steadily in number sales and variety over the years. In contrast, the D-class sedan segment has seen low demand and limited variety.

    Sales of SUV and Crossovers (CUV) vehicles around the price of VND1 billion ($43,135) have risen steadily over the years. While 2014 saw only around 13,000 units sold, sales had more than doubled by 2018 at 24,264 units. 2018 only saw a slight increase over 2017, but this was because a decree on import conditions prevented many firms from importing these vehicles for most of the year.

    According to the Vietnam Automobile Manufacturers’ Association (VAMA), consumers have a choice of 10 SUV/CUVs in the VND1 billion price range. Car dealers have noted that almost all brands in Vietnam have at least one product in the SUV/CUV segment.

    Average sales per model was around 3,100 vehicles a year.

    Th SUV/CUV segment is predicted to boom in 2019, as firms get used to the new regulation and find stability in importing new vehicles.

    Meanwhile, from 2014 up to now, the D-size sedan segment has featured the same models, namely, Toyota Camry, Mazda6, Honda Accord, Nissan Teana and the Kia Optima, which was introduced last year.

    In the last 5 years, sales of D-size sedans reached a peak in 2016 at 8,148 units. The introduction of the Kia Optima in 2018 raised the number of models in the segment to 6, but annual sales fell to only 7,612 units.

    In 2018, Toyota Camry dominated the D-segment at over half of the 4,503 units sold, while the remaining models saw little growth. Total sales have nevertheless been fairly stable, hovering around 6,000 or 7,000 over the years.

    Vietnam’s total car sales increased 5.8 percent to 288,683 units in 2018 from a year ago, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

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  • China’s retail crossover

    China’s retail crossover

    With the tenant mix gravitating away from straight retail towards entertainment, food and lifestyle concepts. The catalyst for change – adopting to the needs of the millennial shopper and counteracting e-commerce penetration.

    Across China, retail is becoming an increasingly digital story. Traditional shopping spaces have been forced to take notice, and for good reason. China’s online retail sales accounted for approximately 40 per cent of the global market in 2016, with an estimated 731 million internet users, as reported by the Chinese Ministry of Commerce.

    Given this backdrop, the big question for psychical retailers now is how to differentiate their services against a more agile opponent? Recently, brand crossovers are seen as a solution.

    Across China, we are seeing a trend for the typical fashion retailers to expand their offer to create a destination shoppers cannot find online. For example, many brands have incorporated F&B into flagship locations. China is Muji’s largest overseas market with over 150 locations, their flagship store on Huaihai Road in Shanghai houses China’s first Cafe & Meal Muji. Further down the same road, Gucci also opened its first 1921 Gucci Restaurant on 4F of IAPM.

    Local brands are also diversifying. Popular homegrown fast fashion brand Urban Revivo from South China, with over 100 stores in China, recently opened new lifestyle concept OCE. Now with 12 locations in China the lifestyle concept typically occupies over 1500sqm housing homewares, home accessories, plants, stationary as well as a varied fashion offer.

    The crossover phenomenon is not only restricted to fashion brands. Korean lifestyle brand Line Friends has recently opened a new kids entertainment concept in Chengdu‘s In99. Offering slides, climbing walls, ball pits and other kids entertainment the concept has been very well received by local shoppers.

    Many retailers are also utilizing “pop ups” to experiment with concept crossover. Coco Cafe on Shanghai’s Nanjing Road West took over a local Aunn Cafe, with queues hours long. The concept created a real buzz in the market as shoppers lined up to try the cosmetic / cafe concept. Magnum has also housed another successful pop up cafe in K11 recently after big success in 2016 with massive social media coverage and over 90,000 customers in a two-month period.

    To differentiate against the omnipresence of digital retailers, concept crossovers will only become more mainstream in China. And with over 1.4 billion potential consumers up for grabs, we also believe this phenomenon is here to stay ensuring shoppers have a reason to visit China’s growing shopping mall portfolio.