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Tag: Fashion

  • Indian fashion house Ritu Kumar looks to raise $20 million

    Indian fashion house Ritu Kumar looks to raise $20 million

    Indian apparel label Ritu Kumar is seeking a cash injection of up to US$20 million.

    The firm will branch into new retail segments such as home furnishings and accessories.

    “We are in the market this year looking for another injection, a larger injection than last time,” said Ritu Kumar MD Amrish Kumar. “Also, [private equity firm] Everstone is coming to the end of their cycle, so they will be looking for an exit sometime soon.”

    Everstone invested $14.5 million in Ritu Kumar five years ago. The firm currently operates 90 outlets under three designer labels.

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  • Prada to phase out virgin nylon

    Prada to phase out virgin nylon

    Luxury Italian fashion brand Prada has launched six bags made from regenerated nylon, as the first stage in a plan to phase out virgin nylon during the next two years.

    In a project dubbed ReNylon, Prada will replace virgin nylon in its collections by using regenerated nylon yarn called Econyl.

    The first products made with Econyl are a belt bag, shoulder bag, tote bag, a duffle and two backpacks.

    The company will replace all the virgin nylon it currently uses with Econyl recycled nylon in the next two years.

    “Our ultimate goal will be to convert all Prada virgin nylon into ReNylon by the end of 2021,” said head of communications at Prada, Lorenzo Bertelli.

    Prada has collaborated with Italian textile yarn producer Aquafil on the project, a manufacturer with more than 50 years experience in producing synthetic textiles.

    The resulting material, Econyl, is produced through a process of depolymerisation. It can be recycled an indefinite number of times with no loss of material quality.

  • LVMH takes stake in Stella McCartney House

    LVMH takes stake in Stella McCartney House

    LVMH has bought a cornerstone share in Stella McCartney House.

    Full details of the deal will be released in September, however LVMH has confirmed Stella McCartney will continue as creative director and ambassador of her brand, while holding majority ownership.

    LVMH’s archrival house Kering previously held a stake in Stella McCartney House until the celebrity bought it out in March last year. The two new partners said their arrangement will aim to accelerate Stella McCartney House’s worldwide development in terms of business and strategy, yet remain faithful to its commitment to sustainable and ethical luxury fashion.

    Stella McCartney will hold a specific position and role on sustainability within LVMH as special advisor to the chairman and CEO, Bernard Arnault, and the executive committee members.

    “Since the announcement of my decision to take full ownership of the Stella McCartney brand, there have been many approaches from various parties expressing their wish to partner and invest in the Stella McCartney House,” said McCartney.

    “While these approaches were interesting, none could match the conversation I had with Bernard Arnault and his son Antoine. The passion and commitment they expressed towards the Stella McCartney brand alongside their belief in the ambitions and our values as the global leader in sustainable luxury fashion was truly impressive.

    “The chance to realise and accelerate the full potential of the brand alongside Mr Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” said McCartney.

    Arnault described the announcement as “the beginning of a beautiful story together”.

    “We are convinced of the great long-term potential of her house. A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on, and [she] built her house around these issues. It emphasises LVMH Groups’ commitment to sustainability.”

    Arnault said LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and “Stella will help us further increase awareness on these important topics”.

    McCartney described partnering with the Arnaults and LVMH as a big step for her, her family, and the Stella McCartney team.

    “The brand has achieved so much since its launch, and this new partnership with LVMH is recognition of that work, but this I feel is just the start, and I look forward to a brilliant future together”.

    The deal announced overnight is subject to normal conditions, including the approval of competition authorities.

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  • Reliance to launch Tory Burch, Tiffany in India

    Reliance to launch Tory Burch, Tiffany in India

    Reliance Brands is launching two of its US brands – lifestyle label Tory Burch and jeweller Tiffany & Co in India.

    The brands will set up shop at Jio World Centre mall in Mumbai in April next year.

    The move is Tiffany & Co’s third attempt to establish a presence in India, following a growing network of international locations already set up in China, Australia, Canada, France, UK, Hong Kong, Japan, and the UAE. Tory Burch is primarily sold at specialty stores worldwide, including Saks Fifth Avenue, Harrods, Bergdorf Goodman, Bloomingdale’s and Nordstrom.

    Reliance Brands already retails several luxury labels in the territory, including Ermenegildo Zegna, Brooks Brothers and Bally.

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  • World-first Homme Plisse Issey Miyake flagship opens in Tokyo

    World-first Homme Plisse Issey Miyake flagship opens in Tokyo

    The world’s first flagship store dedicated to the Homme Plisse Issey Miyake label has opened in the Tokyo suburb of Aoyama.

    The 225sqm space was designed by Tokujin Yoshioka in a distinctly minimalist Japanese style heavily dominated by bare concrete.

    Space at the rear of the shop houses a pleating machine, press and sewing machines, as found in the factory. Here, visitors can see the Japanese fashion label’s unique production method called seihin pleats (product pleats), in which pleats are made in fabric which is cut and sewn to 1.5 times the normal size.

    Stock on display includes a limited-edition long-sleeve t-shirt range under the Colors label, sold in 10 shades. The clothes are made using the pleating machine located in the store and complement the full Homme Plisse collection.

    The bold and bare concrete floors and pillars and exposed utilities in the space help create a factory feel and helps the brightly coloured apparel stand out. Stock is hung from steel racks and matching display counters.

    “We hope that this shop not only delights customers but also brings a sense of the joys of the “monozukuri no gemba (workshop)” to the public for the first time,” said a Homme Plisse Issey Miyake spokesperson.

  • H&M collaborates with Chinese designer Angel Chen

    H&M collaborates with Chinese designer Angel Chen

    H&M has teamed with Angel Chen in a capsule collection – the fast-fashion label’s first partnership with a Chinese designer.

    The Angel Chen x H&M collection will be available in selected stores and online in Mainland China, Hong Kong, Taiwan, Singapore, Malaysia and Canada this September, as well as online in Macau and the Philippines. It will also be sold on H&M’s Tmall flagship store.

    “With lines for both women and men, this collaboration perfectly encapsulates the essence of Angel’s signature styles,” says Pernilla Wohlfahrt, H&M assortment manager for collaborations and special collections.

    Heavily influenced by Angel’s design ethos of East meets West, this capsule collection features an urban wardrobe of versatile pieces with strong Chinese elements in colours like Oriental red, bubble-gum pink and bright yellow.

    Embroidered details, from dragons to cranes and pine trees, are used across the entire collection. Traditional dragon and floral embroidery are also weaved into Angel Chen’s logo that is featured on sweatshirts, hoodie dress and jackets.

    Chinese characters such as “Yuan Qi” (energy) and “Kung Fu” written in brush calligraphy is also featured on a denim boiler suit and satin shirt.

    Statement pieces include a knitted mesh suit in a vivid all-over dragon and crane print, a sequin maxi dress with crane motif and a bubble-gum pink faux-fur coat. Other items include accessories such as the phone case sling, faux fur bag, and unisex boots.

    “With the development of global market, more Chinese designers are stepping on the international stage,” says Angel Chen. “And I hope that through this collaboration, more people will pay attention to Chinese designers, and also the Chinese culture and spirit behind their designs.”

    Chen moved from her native Shenzhen to study in London aged 17 and graduated from Central Saint Martins. Chen launched her own label in 2015.

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  • Victoria Beckham CEO steps down suddenly

    Victoria Beckham CEO steps down suddenly

    Victoria Beckham CEO Paolo Riva has resigned from the company, citing personal reasons.

    Victoria Beckham, the fashion label bearing the name of its founder, the one-time Spice Girl and model, has two stores – in Hong Kong and London.

    Riva took up his role only last September. He will be replaced with immediate effect by chairman Ralph Toledano, who joined the business in March last year.

    “I am proud of what I have accomplished with the team and wish the company great success for the future,” said Riva.

    “It has been a real pleasure working with Paolo, and on behalf of the board, I would like to thank him for his contribution,” Toledano said, announcing the change. “I look forward to continuing to drive and implement the strategy for the brand with Victoria and the team.”

    Product director Marie Leblanc de Reynies has been appointed to the new role of MD of brand and product and Pablo Sande, who has previously held roles with Salvatore Ferragamo and Burberry, as CFO and legal officer.

    While Victoria Beckham has earned critical acclaim it is understood the brand has yet to make a profit with Beckham and her husband David, the high-profile businessman and former footballer, continuing to fund the label.

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  • Prada to phase out virgin nylon

    Prada to phase out virgin nylon

    Luxury Italian fashion brand Prada has launched six bags made from regenerated nylon, as the first stage in a plan to phase out virgin nylon during the next two years.

    In a project dubbed ReNylon, Prada will replace virgin nylon in its collections by using regenerated nylon yarn called Econyl.

    The first products made with Econyl are a belt bag, shoulder bag, tote bag, a duffle and two backpacks.

    The company will replace all the virgin nylon it currently uses with Econyl recycled nylon in the next two years.

    “Our ultimate goal will be to convert all Prada virgin nylon into ReNylon by the end of 2021,” said head of communications at Prada, Lorenzo Bertelli.

    Prada has collaborated with Italian textile yarn producer Aquafil on the project, a manufacturer with more than 50 years experience in producing synthetic textiles.

    The resulting material, Econyl, is produced through a process of depolymerisation. It can be recycled an indefinite number of times with no loss of material quality.

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  • Riccardo Tisci makes magic at Burberry

    Riccardo Tisci makes magic at Burberry

    Burberry is hailing the success of new creative director Riccardo Tisci as its June-quarter same-store sales grew by 4 per cent.

    Sales growth in China was up by the mid-teens, with Asia Pacific overall nudging 10 per cent.

    “This was a good quarter in our multi-year journey to transform Burberry,” said CEO Marco Gobbetti. “We increased the availability of products designed by Riccardo, while continuing to shift consumer perceptions of our brand and align our network to our new creative vision. The consumer response was very promising, delivering strong growth in our new collections.”

    The company described the response to Tisci’s designs as “excellent”, his collections delivering strong double-digit percentage growth compared to prior-year equivalent collections, and in line with Burberry’s expectations.

    The proportion of new product increased to around 50 per cent of the brand’s offer in mainline stores by the end of June.

    ‘‘Burberry’s transformation plan under new CEO Marco Gobbetti is starting to pay off,” observed Chloe Collins, senior retail analyst at GlobalData.

    She said much credit is due to Tisci, whose collections “offer a fresh and edgy revamp of the brand’s classic and neutral designs”.

    Burberry’s adept use of social media was also a factor in the recovery, with celebrity influencers such as Rihanna and Irina Shayk continuing to expand the brand’s reach and drive engagement with consumers.

    “Burberry must continue to invest in its social platforms to fight off other luxury players such as Gucci and Louis Vuitton, which are focusing on the channel to target younger shoppers. Burberry should more heavily promote its Instagram checkout feature to drive sales, as well as increasing brand engagement via marketing events.”

    Meanwhile, Burberry’s review of its retail network has seen 23 stores reconfigured to the new creative vision and led to a 2 per cent reduction in selling space, through the closure of non-strategic sites. Of 38 smaller stores selected for closure, nine have now been shuttered and in the wholesale space, Burberry is continuing to rationalise space in non-luxury US resellers.

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  • Giordano International sales plunge again

    Giordano International sales plunge again

    Giordano International is set to report a second successive quarter of heavy sales decline.

    The casualwear retailer warned shareholders yesterday that underlying sales may fall by about 28 per cent, driving a 38-per-cent decrease in profit attributable to shareholders for the six months ended June 30.

    Chairman and CEO Peter Lau said the board believes the decrease was largely confined to the Greater China Region, and “primarily attributable to the weak retail environment and poor market sentiment in those regions stemming from the Sino-US trade war”.

    A factor in the profit figure was the adoption of new Hong Kong financial-reporting standards applicable to leases, which took effect on January 1 this year.

    The company will announce its interim results next month.

    In April, Giordano announced that sales in Greater China plunged by 17.7 per cent during the first quarter, dragging group-wide sales down by 10.8 per cent, or 8.5 per cent on a constant-currency basis.

    In a stock-exchange filing on the eve of the holiday weekend the casual apparel retailer blamed the downturn on “uncertainty stemming from the Sino-US trade dispute and abnormally warm weather”.

    Giordano sales in Indonesia, Thailand and Vietnam remained stable during the first quarter, and in the fledgling Middle East market rose by 10 per cent to HK$80 million, slightly compensating for the heavy impact of China.

    By market, Mainland China sales fell from $378 million to $295 million, in Hong Kong and Macau from $248 million to $225 million and in Taiwan from $201 million to $161 million. In the rest of Asia-Pacific, they declined from $422 million to $398 million.

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  • LVMH takes stake in Stella McCartney House

    LVMH takes stake in Stella McCartney House

    LVMH has bought a cornerstone share in Stella McCartney House.

    Full details of the deal will be released in September, however LVMH has confirmed Stella McCartney will continue as creative director and ambassador of her brand, while holding majority ownership.

    LVMH’s archrival house Kering previously held a stake in Stella McCartney House until the celebrity bought it out in March last year. The two new partners said their arrangement will aim to accelerate Stella McCartney House’s worldwide development in terms of business and strategy, yet remain faithful to its commitment to sustainable and ethical luxury fashion.

    Stella McCartney will hold a specific position and role on sustainability within LVMH as special advisor to the chairman and CEO, Bernard Arnault, and the executive committee members.

    “Since the announcement of my decision to take full ownership of the Stella McCartney brand, there have been many approaches from various parties expressing their wish to partner and invest in the Stella McCartney House,” said McCartney.

    “While these approaches were interesting, none could match the conversation I had with Bernard Arnault and his son Antoine. The passion and commitment they expressed towards the Stella McCartney brand alongside their belief in the ambitions and our values as the global leader in sustainable luxury fashion was truly impressive.

    “The chance to realise and accelerate the full potential of the brand alongside Mr Arnault and as part of the LVMH family, while still holding the majority ownership in the business, was an opportunity that hugely excited me,” said McCartney.

    Arnault described the announcement as “the beginning of a beautiful story together”.

    “We are convinced of the great long-term potential of her house. A decisive factor was that she was the first to put sustainability and ethical issues on the front stage, very early on, and [she] built her house around these issues. It emphasises LVMH Groups’ commitment to sustainability.”

    Arnault said LVMH was the first large company in France to create a sustainability department, more than 25 years ago, and “Stella will help us further increase awareness on these important topics”.

    McCartney described partnering with the Arnaults and LVMH as a big step for her, her family, and the Stella McCartney team.

    “The brand has achieved so much since its launch, and this new partnership with LVMH is recognition of that work, but this I feel is just the start, and I look forward to a brilliant future together”.

    The deal announced overnight is subject to normal conditions, including the approval of competition authorities.

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  • Superdry spins into loss as new management tries to restore sales

    Superdry spins into loss as new management tries to restore sales

    Struggling lifestyle-fashion label Superdry has reported a loss of £85.4 million for the year to March, a sharp turnaround in fortune after the £65.3 million profit of the prior year.

    The results were heralded by the company in a series of profit warnings and follow turmoil on the company’s board. Founder Julian Dunkerton has retaken the reins of the business and a raft of directors and senior management have left.

    James Yacoub, a retail analyst at GlobalData, says the disappointing results have been spurred on by a poor performance in the second half “which Superdry has put down to the unimaginative excuse of a ‘difficult retail climate’”.

    “Of course this may have been convincing had competitors experienced similar misfortunes, however this has not been the case for those innovating and who are in tune with customers, with online pureplay Boohoo achieving exponential revenue growth of 47.8 per cent while sports and athleisure retailer JD Sports achieved 49.2 per cent revenue growth over the same financial period,” said Yacoub.

    “Superdry is suffering from deep-rooted issues relating to its inability to remain relevant and ultimately differentiate itself from more nimble, innovative and the latest lifestyle brands.”

    Although Dunkerton’s return to Superdry will not have an immediate impact on performance, Yacoub says one would hope to see an improvement in results in 12 to 18 months when his influence on product, channels and brand has had a chance to filter through.

    Incoming chairman Peter Williams described the Superdry results as “clearly very disappointing”.

    “However, everything I have learnt since joining the business in April has reinforced my view that Superdry is a powerful brand with great people across the organisation.

    “While we have been clear it is going to take time, I remain convinced that continuing to work closely with Julian and the leadership team, we are building the right plan to deliver long-term sustainable growth for shareholders,” Williams said.

    However Yacoub says that while Dunkerton has announced plans to ‘bring back design excellence’, reset store profitability and to build a cohesive team to stabilise the business, these plans are rather vague and have not instilled any real confidence in investors, as Superdry’s share price continues to tumble.

    “It is imperative, however, that investors provide Dunkerton with sufficient time to implement his transformation plan, though more detail on product range development and margin control would help alleviate some concerns.”

    Yacoub says Superdry must find a way to breathe new life into its brand, it must define and capture its target audience through effective social-media campaigns and ensure that it is resistant to changes in fashion and seasonal trends.

    “Ultimately Dunkerton must futureproof the business by expanding its design range to appeal to a wider target segment and also innovate to maintain customer loyalty and increase engagement.”

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  • Belgian fashion chain Jean Paul Knott to enter China

    Belgian fashion chain Jean Paul Knott to enter China

    Belgian designer brand Jean Paul Knott will open its first Chinese flagship in Beijing next month.

    The designer behind the eponymous label, which emphasises high-quality fabric and minimalist design, revealed the plans at a recent conference marking the brand’s 2019 Autumn/Winter collection, inspired by the classic French 1960s romantic film A Man and a Woman, and featuring a natural and smooth linear beauty of cuts and edits.

    In a dialogue with local fashion writer and translator Gu Chenxi, Knott revealed that he has refocused on the “design of the clothing itself” in an attempt to introduce a “new sincerity to the Chinese market”.

    At the conference, Knott introduced a creative artistic and visual immersive experience designed around brand’s signature blue element, representing “the infinite possibilities of Jean Paul Knott in China”, and featuring stills and clips from A Man and a Woman.

    Knott studied fashion design in New York and worked in Paris with legendary designer Yves Saint Laurent.

  • Amorepacific opens Sulwhasoo Universe at Hainan

    Amorepacific opens Sulwhasoo Universe at Hainan

    Korean beauty firm Amorepacific has launched a new pop-up store, “Sulwhasoo Universe”.

    The firm hosted an event at the China Duty Free Group (CDFG) Sanya International Duty-Free Shopping Complex – the world’s largest duty-free store – to celebrate the opening on July 6. The event also served to mark with the 40th year anniversary of CDFG.

    Sulwhasoo Universe is a global pop-up store campaign to mark the launch of the Sulwhasoo First Care Activating Serum EX “Star Collection”. The brand opened its first pop-up store in Korea on May 15, following it up with a string of other stores in eleven major cities around the world.

    Open until July 31, the Sulwhasoo Universe pop-up store presents content based on an observatory-inspired concept to deliver a brand story behind the serum, a signature Sulwhasoo product.

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  • Versace China opens Beijing flagship Store

    Versace China opens Beijing flagship Store

    Versace China’s new flagship has opened in Beijing as part of a concerted plan by the fashion label’s new owners to expand its footprint globally.

    Launching in Beijing’s China World Mall to bring its store network to 53 outlets, the more than 4300sqft two-level boutique features a marble-based store design overseen by French architect Gwenael Nicolas.

    “The LEED-certified boutique has been created with the highest sustainability standards in mind,” said a statement released by the firm. “Dimmable lights with central control have been installed to ensure efficient use of energy over the course of the day.”

    “There’s no bigger luxury than our future. The new Versace China concept is a commitment toward Versace’s sustainable legacy,” said designer Donatella Versace”

    Capri Holdings, which also owns Michael Kors and Jimmy Choo, bought Versace from Donatella Versace late last year for US$2.2 billion. It is now implementing a plan to double the label’s worldwide sales with at least 112 new stores scheduled by 2022 along with a refurbishment program for the existing network. The new Beijing store is a key step in that plan.

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