Retail News CRM

Tag: Fashion

  • Amorepacific Group to expand in Australia

    Amorepacific Group to expand in Australia

    Amorepacific Group, the L’Oreal of Korea, is ramping up its presence in the Australian and New Zealand markets, as demand for Korean beauty products remains unabated. Over the last several months, the company has set up a head office in Melbourne under the direction of country manager Caroline Dunlop, launched its global luxury brands Amorepacific and Laneige at Mecca Cosmetica and Sephora, respectively, and opened two bricks-and-mortar stores under the banner of its popular natural beauty brand Innisfree in Melbourne. A third Innisfree store is due to open before the end of the year.

    Amorepacific Group said it will continue to further ramp up its expansion into the Oceania region after having closely studying the Australia and New Zealand beauty markets and their customers for several years. The company noted that Australia ranks among the the top five countries in the world for average cosmetics spending per person.

    “Australian and New Zealand customers are beauty conscious; taking great interest in global beauty trends and cosmetic ingredients. They also put a significant amount of time and effort into taking care of and protecting their skin against environmental factors in the region. In addition, their preference for natural makeup and healthy skin has led to a growing interest in K-beauty,” the group said in a statement.

    Amorepacific is far from the only beauty retailer moving to capitalise on the booming beauty sector, but it may be better equipped than most to do so. The company is Korea’s oldest and largest beauty business, recording around US$6 billion ($8.5 billion) in annual sales, and has a physical presence in Asia, North America, Europe and Oceania.

    “I am so pleased to introduce Amorepacific Group’s global brands … to Australia and New Zealand this year,” Dunlop said.

    “These much-loved brands have enthralled customers around the world, and K-beauty has grown into a beauty category in its own right. As a K-beauty leader, Amorepacific Group is driving innovative beauty trends globally. Through Amorepacific Group, customers will be able to experience and benefit from the long-established expertise and true essence of Asian Beauty.”

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  • Bankrupt US retail giant Sears owes Vietnamese firm $4 million

    Bankrupt US retail giant Sears owes Vietnamese firm $4 million

    Sears, a U.S. retail titan that has filed for bankruptcy, owes a Vietnamese textile company upwards of $4 million. Sears Holdings filed for bankruptcy on October 15 after failing to make a $134 million debt payment tranche. Its subsidiaries, Sears, Roebuck and Kmart are partners of Vietnamese textile firm Thanh Cong, contributing about 7 percent to the textile firm’s revenue every year.

    Last year, Sears contributed VND220 billion ($9.38 million) to Thanh Cong’s revenues of VND3.2 trillion ($136.5 million). Sears remaining debt to Thanh Cong is VND95 billion ($4 million), or 3 percent of the textile firm’s total assets, according to Vietnamese company’s  third quarter report.

    Thanh Cong CEO Lee Eun Hong said that his company was seeking to participate in the process and retrieve its money.

    The hearing is scheduled for November 15.

    Thanh Cong Textiles, established in 1967, has reported accumulated revenues of VND2.82 trillion ($120.3 million) in the first nine months of this year, up 15 percent year-on-year.

    Exports account for 88 percent of the firm’s revenue.

    The bankruptcy filing by Sears follows a decade of revenue declines, hundreds of store closures, and years of deals by billionaire Eddie Lampert in an attempt to turn around the company he acquired in 2005 for $11 billion.

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  • Lotte pledges 50 trillion won investment

    Lotte pledges 50 trillion won investment

    Lotte Group announced Tuesday a major investment plan to spend 50 trillion won ($43.9 billion) and hire 70,000 workers over the next five years. “The plan comes in order to normalize management activities, obtain a competitive edge for future growth and contribute to vitalizing the local economy,” Lotte said in a statement.

    The announcement comes on the heels of similar plans announced by other conglomerates like LG, Shinsegae and Samsung. Lotte couldn’t join that wave because Chairman Shin Dong-bin was sentenced to 30 months in prison last February for bribing former President Park Geun-hye. On Oct. 5, the Seoul High Court replaced the prison sentence with four years of probation, and Shin returned to work three days later.

    Lotte announced an investment plan of 40 trillion won in 2016. But most of the investments couldn’t be executed after the group was badly affected by the deployment of a U.S. antimissile system in Korea in 2017 on a golf course formerly owned by the group and a Chinese boycott against Lotte that followed. Shin’s imprisonment earlier this year also got in the way.

    Execution of the 50-trillion-won plan will start next year. A 12 trillion won budget is planned for 2019, a record for the conglomerate.

    The two sectors that will receive the greatest attention are chemicals and retail. Some 40 percent of the investments will be in chemicals and 25 percent in retail. Lotte grew to its current size thanks to food and retail, but in recent years, the company has been active in developing the chemical business.

    For chemicals, investments will focus on expanding local and overseas manufacturing facilities. The group currently has factories in three locations in Korea, which Lotte said will be expanded.

    Investments in overseas facilities will also be made to expand the company’s businesses abroad. Lotte Chemical has a $4-billion project in Indonesia that was put on hold when Shin was jailed. A source at Lotte said, with Shin back in the saddle, resuming the project won’t take long.

    The main goal for investments in retail is improving the infrastructure for e-commerce. Lotte said in a statement it plans to establish logistics and computing infrastructure to offer a more convenient experience for shoppers online and off.

    Tech development and enhancing the level of digitalization is a long-term goal across the conglomerate’s affiliates. For example, Lotte wants to apply tech to its food business: Artificial intelligence technology is underway to be used for trend analysis and to suggest new products.

    Indonesia and Vietnam will be two foreign markets Lotte’s affiliates will focus on. The company once had a huge footprint in China, but Beijing unofficially retaliated against Lotte after the deployment of the antimissile system in Korea. The company added in the statement that it would continue discovering new markets.

    The goal for new jobs in 2019 is 13,000, which is 10 percent higher than what Lotte plans to hire this year. Many hires will be in the e-commerce sector.

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  • Positive trend for South Korean duty free sales

    Positive trend for South Korean duty free sales

    South Korean duty free sales in the first nine months of 2018 have exceeded total sales for 2017. Sales hit an all-time high of US$12.9 billion between January and September, according to Korea Duty Free Shops Association. That figure exceeds the US$12.8 billion recorded for full year 2017.

    The performance comes despite a significant fall in the number of Chinese tourists to South Korea since the THAAD dispute erupted in early 2017, with a number of restrictions imposed by the Chinese government including a ban on group tours.

    As reported, the latest Korea Tourism Organization (KTO) figures showed that Chinese arrivals were up just +6.5 percent year-on-year (to 3,059,075) in the first eight months of 2018, reflecting a very tough first quarter before Korean-Chinese relations improved as the THAAD dispute eased.

    In the first eight months of 2016 – long before the THAAD crisis began– some 5,608,046 Chinese arrived in South Korea. That figure is +83% higher than the 2018 performance over the same timeframe, highlighting the scale of the drop in Chinese tourist numbers.

    A key factor driving sales is the daigou phenomenon.

    Daigou (also known as ‘shuttle traders’ in South Korea) buy goods abroad (predominantly cosmetics but also a wide range of accessories and other premium and luxury goods, as well as commodity items such as milk powder) and resell them (often through well-organised networks) on the Mainland.

    As reported though, a Chinese government crackdown on returning daigou shoppers after the Golden Week holiday (1-7 October) has raised serious questions about the future of a sector that has buoyed Asia Pacific travel retail in recent times.

    Many South Korean retailers expect China to continue to ease economic and travel restrictions, including a full lifting of the ban on group tours in the near future.

    The return of group tours would be a significant boost – and could mean the pendulum swings back from individual shuttle traders to large group tours and traditional FIT business in terms of being the key driver of duty free sales.

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  • Hobbs launches in Hong Kong soon

    Hobbs launches in Hong Kong soon

    Hobbs will open its first store in Hong Kong in December, inside IFC mall. The UK womens fashion label has set a rapid expansion program this year, with the Hong Kong store marking its seventh new international market. Founded in London in 1981, initially specialising in shoes before expanding into the clothing and accessories, it has expanded across the UK, US and Germany and sells online.

    This year it has already opened points of sale in Kuwait, Japan, Beijing, Singapore, Belgium and South Africa.

    Hobbs CEO Meg Lustman said in an interview the company has partnered with a local company to establish a joint venture for the Hong Kong business, someone “who has great relationships with the landlords”.

    Hobbs is a sister brand of Whistles, which opened a store in IFC mall in April. The two brands, along with Phase Eight, are owned by the UK subsidiary of South African retail company The Foschini Group.
    Lustman said Whistles was doing well in Hong Kong and she is confident Hobbs will follow suit.

    “We can see our customer exists out there. When we’ve visited over the years, we’ve seen how many women are dressed for professional work. This is supported by demand from customers on our website.”

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  • Canada Goose debuts in Hong Kong market

    Canada Goose debuts in Hong Kong market

    Canadian clothing manufacturer Canada Goose has opened its first Hong Kong store. Located in the IFC mall, the inaugural greater China store follows a partnership struck in May with Alibaba to launch the brand on the mainland. Canada Goose’s CEO in China Scott Cameron said the brand chose to open in Hong Kong because of its status as China’s fashion capital, as well as its strategic location between the mainland and the rest of the world.

    The brand’s new 2018 fall products are available in store as well as its classic down jacket and “Fusion Fit” collection for Asian wearers.

    The Alibaba partnership was created in part to ensure consumer access to genuine products in a market category frequently assailed by counterfeiting.

  • Fast fashion retailer Giordano sales surge in Hong Kong

    Fast fashion retailer Giordano sales surge in Hong Kong

    Giordano sales slid 5.2 per cent in the September quarter, according to a trading update by the fast-fashion retailer. Translated into constant currency basis, sales declined by 6.9 per cent, the company said. “We saw a sharp decline in sales as a result of dampened consumer confidence since June throughout the Asia Pacific region,” said chairman and CEO Peter Lau.

    Group comparable-store sales slipped by 2.8 per cent.

    However, Giordano sales in Hong Kong and Macau bucked the trend, rising by HK$2 million on a same-store basis in the quarter and by $6 million for the nine months to the end of September, reaching $226 million and $703 million respectively.

    Mainland China sales fell $30 million to $251 million.

    Lau said core Giordano lines accounted for 84.6 per cent of total brand sales. The company’s premium womenswear brand, Giordano Ladies, posted comp-stores growth of 3.3 per cent.

  • DFS launches 10th anniversary edition of Masters of Time

    DFS launches 10th anniversary edition of Masters of Time

    DFS Group (DFS), the world’s leading luxury travel retailer, is launching the tenth edition of its world-leading Masters of Time exhibition this December, with a special anniversary collection that highlights craftsmanship, design and innovation. This year’s exhibition, titled “Masters of Time X”, will be unveiled during a two-day gala weekend at T Galleria by DFS, Macau, Shoppes at Four Seasons, featuring the finest watches and jewelry from some of the world’s most renowned brands including several pieces created especially in celebration of the event.

    Masters of Time is recognized as the world’s premier retail exhibition of luxury timepieces and jewelry, and is a signature event in DFS’ Masters Series, which showcases DFS’ leadership and innovation in curating and creating exceptional experiences across its five pillars of luxury: Wines and Spirits, Beauty and Fragrances, Watches and Jewelry, Fashion and Accessories, and Food and Gifts. Created by DFS in 2008 to bring the very best brands in the world of watchmaking, and their ambassadors, together with enthusiasts and collectors alike, the event is traditionally hosted each year in the exciting shopping enclave of Macau.

    The anniversary Masters of Time X collection represents the most exclusive selection of watches and jewelry that DFS has ever presented to its customers, with each piece chosen by its expert merchant teams after more than a year of meticulous searching. Masters of Time X showcases the height of craftsmanship as well as the best of design and innovation for both men and women, featuring over 450 exceptional, rare watches and exclusive jewelry masterpieces from 30 world-famous brands including Bulgari, Franck Muller, Hublot, IWC, Jaquet Droz, Piaget, Roger Dubuis, Tag Heuer, Ulysse Nardin and Zenith. This year, in commemoration of the milestone tenth edition, several pieces have been created especially for DFS and Masters of Time.

    A curated selection of fine jewelry will also be featured as part of the Masters of Time X collection. Highlights include Bulgari’s “Diva’s Dream” set, Tiffany “Paper Flowers” necklace, Piaget’s “Sunny Side of Life Golden Spirit” cuff bracelet, Boucheron’s “Plume de Paon & Hopi” set and Tasaki’s “Ritz Paris Par Tasaki ‘Elégance’” necklace.

    “As we enter our tenth year of DFS’ Masters of Time, the desires of our customers have never been more central to our carefully curated collection. We have worked with some of the most famous brands in the world to create and select masterpieces to captivate experienced collectors and first-time buyers alike,” said Matthew Green, DFS Group Senior Vice President, Watches and Jewelry. “This is a collection worthy of this milestone anniversary, and we are delighted to welcome new and existing customers to discover something truly unforgettable at Masters of Time X.”

    The Masters of Time X collection will be unveiled during a two-day gala weekend at T Galleria by DFS, Macau, Shoppes at Four Seasons from December 7-9. The collection will be available for viewing and purchase in Macau from December 7, 2018 until end-February 2019.

    In commemoration of Masters of Time’s tenth anniversary, new locations have been added to the event’s agenda to reach DFS customers outside of Macau. In September, Masters of Time X was pre-launched to European customers at DFS’ flagship store in Venice, T Fondaco dei Tedeschi, followed by immersive dinners in Chengdu and Shanghai in October, all featuring a selection of bespoke and rare watch and jewelry pieces. In 2019, the Masters of Time X collection will travel to a selection of DFS T Galleria stores around the world.

  • Skechers achieves record third quarter 2018 sales

    Skechers achieves record third quarter 2018 sales

    Skechers USA, a global footwear leader, has announced financial results for the third quarter ended September 30, 2018. “Achieving record third quarter sales is a notable accomplishment given the strength of our third quarter 2017 sales,” began Robert Greenberg, Chief Executive Officer, Skechers.

    Greenberg added, “Both our domestic and international businesses grew, and we remained the leader in walking, work, casual lifestyle and sandals footwear in the United States. We experienced strong product successes across multiple divisions around the world, which was evident by our double-digit growth in both our international wholesale and worldwide Company-owned retail businesses. Skechers D’Lites, our heritage chunky style that has seen great success over the last two years in Asia, is now an in demand style across North America and Europe, and is poised for growth in South America, India and the Middle East. Through Skechers D’Lites, we are reaching a younger, more fashion-savvy audience, and getting press—from Marie Claire and Elle to HypeBae and Highsnobiety—and social media influencers are embracing this signature look. Further, we are seeing renewed acceptance of this chunky style by men. Our core footwear categories for men, women, work and golf are also performing well. We are achieving this growth with the right product mix combined with a balanced approach to marketing spend. As we continue to invest in our international infrastructure, we believe there is significant opportunity to grow our brand further through both wholesale, and Company-owned and third-party retail stores, which now stand at 2,802 locations worldwide. We’re looking forward to fourth quarter growth across both our domestic and international channels and a new annual sales record.”

    “As we near the close of 2018, we believe the direction of our business is on target with our record sales in the third quarter, continued international growth and strong gross margins,” stated David Weinberg, Chief Operating Officer of Skechers.

    Weinberg added, “With three record sales quarters in 2018 and brand acceptance around the globe, we achieved a new record for the first nine months of US$ 3.56 billion, an 11.5 percent increase over last year. In the third quarter, our international distributor business returned to growth, increasing 11.6 percent over the same period last year, and combined with our international joint venture and subsidiary business, our total international wholesale sales increased 11.8 percent for the period. International wholesale along with international retail now represents 55.5 percent of our total business. We expect our business in the United States—both wholesale and retail—to grow in the fourth quarter. We remain committed to efficiently and profitably growing our global footwear business.”

    Sales grew 7.5 percent as a result of an 11.8 percent increase in the Company’s international wholesale business, and a 10.6 percent increase in its Company-owned global retail business. Its domestic wholesale business decreased 3.0 percent. The Company’s total international business grew 12.5 percent and its total domestic business grew 1.8 percent. Third quarter comparable same store sales in Company-owned retail stores worldwide increased 1.9 percent, including an increase of 3.0 percent in the United States offset by a decrease of 0.8 percent in its international stores.

    Gross margins slightly increased as higher domestic margins from improved retail pricing and product mix were partially offset by the impact of negative foreign currency exchange rates.

    SG&A expenses increased 9.5 percent in the quarter. Selling expenses increased by 0.7 percent, but improved 50 basis points as a percentage of sales from 8.2 percent to 7.7 percent for the third quarter 2018. The US$ 37.8 million increase in general and administrative expenses was primarily the result of the Company’s continued commitment to build its international brand presence and direct-to-consumer channels. General and administrative expenses in China grew US$ 7.5 million to support continued expansion, including preparation for next month’s Single’s Day, and US$ 13.3 million associated with operating 58 additional company-owned Skechers stores worldwide, of which 13 opened in the third quarter. General and administrative expenses also included US$ 11.1 million related to corporate and domestic operations, of which US$ 4.8 million was for increased domestic warehouse and distribution costs.

    Earnings from operations increased US$ 7.4 million, or 6.4 percent.

    Net earnings were US$ 90.7 million and diluted earnings per share were US$ 0.58. In the third quarter, the company’s income tax rate was 13.7 percent reflecting its continued assessment of the impact of the recently enacted tax reform legislation. As a comparison, the company’s income tax rate for the three months ended September 30, 2017 was 9.4 percent.

    Sales grew 11.5 percent as a result of an 18.9 percent increase in the company’s international wholesale business, and a 13.7 percent increase in its company-owned global retail business. For the nine-month period, its domestic wholesale business was essentially flat compared to the same prior year period. The company’s combined international wholesale and retail business grew 19.7 percent and its combined domestic wholesale and retail business increased by 3.4 percent.

    Gross margins increased due to strength in the Company’s international wholesale and Company-owned international retail businesses.

    SG&A expenses increased 17.3 percent. This increase was due to an additional US$ 176.3 million in general and administrative expenses. Selling expenses increased by US$ 25.3 million.

    Earnings from operations increased US$ 26.9 million, or 8.2 percent.

    Net earnings were $253.7 million and diluted earnings per share were US$ 1.62. For the nine months, the company’s income tax rate was 13.0 percent. As a comparison, the company’s income tax rate for the nine months ending September 30, 2017 was 12.9 percent.

    For the fourth quarter of 2018, the company believes it will achieve sales in the range of US$ 1.100 billion to US$ 1.125 billion, and diluted earnings per share of US$ 0.20 to US$ 0.25. The guidance is based on expected growth in each of the company’s three segments. The company now expects its effective tax rate to be between 13 and 15 percent, which implies a fourth quarter tax rate of between 17 and 20 percent.

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  • Louis Philippe unveils new retail identity at Banjara Hills India

    Louis Philippe unveils new retail identity at Banjara Hills India

    Louis Philippe, India’s leading premium menswear brand from Aditya Birla Fashion and Retail Ltd, has launched the new retail identity at Banjara Hills. The new identity celebrates ‘The Crest’ which is a symbol of craftsmanship and excellence. The sprawling 4,000 sq.ft. store at Banjara Hills, Hyderabad was unveiled by India’s ace cricketer V.V.S Laxman.

    Speaking on the occasion, Farida Kaliyadan, COO, Louis Philippe said, “We are delighted to introduce the new retail identity for the brand. Louis Philippe is focused on delivering value through superior craftsmanship, diverse product portfolio and an unmatched retail experience. At present we have 17 stores across Hyderabad and Telangana.”

    The revamped outlet houses a wide range of formals, casuals, denims, suits and blazers, and accessories.

    As part of launch promotions, Louis Philippe will be giving the two highest billers a chance to win an Apple iPad. That’s not all, the other customers who participate and stand an opportunity to win PVR gift vouchers, ties, pocket squares, LP gift vouchers.

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  • Bvlgari’s cinema themed pop-up at Singapore’s ION Orchard mall

    Bvlgari’s cinema themed pop-up at Singapore’s ION Orchard mall

    High-end Italian jewellery house Bvlgari has opened a pop-up retail place this month in Singapore. Located on level one of the ION Orchard mall, the “Pop (Up) Corn” shop is decked out in saccharine pink and blinking neon lights and takes inspiration from 60s Italian theatre.

    It is also a mini-reproduction of the Italian luxury brand’s Via Condotti boutique in Rome where Hollywood icons such as Audrey Hepburn and Elizabeth Taylor would shop when in town.

    Inside, the pop-up offers limited-edition Bvlgari handbags including Serpenti and Divas Dream bags in calfskin leather, as well as sparkling jewellery pieces and watches.

    The standout piece is the limited-edition matching set of a Bvlgari-Bvlgari necklace and bracelet in rose gold, which is an ION Orchard exclusive. Not to mention a series of cinema-themed objects such as glitzy popcorn boxes, rectangular ticket stubs and dazzling neon lights.

    The Pop (Up) Corn store is open now until December 31.

    The new pop-up serves as a precursor to the official store opening in ION Orchard from Bvlgari in December, joining the store in Marina Bay.

    It’s not the first time Bvlgari has opened a pop-up store in a key capital city.

    In 2017, Bvlgari opened a pop-up store inside France’s Galeries Lafayette department store on boulevard Haussmann in Paris.

    Bvlgari operates flagship stores in most Asian cities including Singapore, Taipei, Shanghai, Beijing, Hong Kong and Macau.

    Founded in 1884 in Rome Sotirios Voulgaris, Bvlgari is now majority-owned by French luxury conglomerate LVMH Group.

    For the first-quarter 2018, LVMH’s watches and jewellery category, which Bvlgari is a part of, witnessed 8% growth in revenue terms and 14% organic growth in the category, totaling 9.5 billion euros. Overall revenues tipped 33 billion euros for the three months ending September 30.

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  • Fila opens its second heritage store in Mumbai

    Fila opens its second heritage store in Mumbai

    Fila launched its flagship heritage store in Mumbai at Fort last month. As part of the brand’s retail expansion plan for the current financial year, they have now opened doors to their second heritage store in Mumbai at Inorbit Mall in Malad.

    With Kala Ghoda being the upcoming shopping district for South Mumbai, the second store is strategically located in a popular mall in North Mumbai that sees high footfalls of consumers from other parts of the city.

    The Inorbit Malad store aims to attract the millennial customer with its classic-meets-contemporary vibe and is standardized to sync with the brand’s retail design layout across all existing and upcoming stores in India. Characterized with its signature, bold, oversized, backlit logo on the exterior and iconic red, white and blue color palette in the interiors; the design serve as the ideal backdrop to showcase a show-stopping and vibrant Fila Heritage autumn/winter 2018 collection.

    Fila has been there for iconic moments, accompanying extraordinary individuals in pursuit of true sport – those who courageously challenge limits and defy expectations through a seamless combination of power and grace.

    From its humble textile beginnings in Biella, Italy in 1911 to its historic introduction of colour on the tennis court in 1973, the brand has always taken pride in creating designs as bold and breath-taking as those wearing it. With a philosophy of innovation and a commitment to performance and sophistication, Fila continues to make a statement with styles that are novel in aesthetic and effective in function.

  • Easing price of gold gives Luk Fook sales some shine

    Easing price of gold gives Luk Fook sales some shine

    Luk Fook achieved same-store sales growth of 14 per cent in its latest quarter, thanks to lower gold prices, good market sentiment and a successful sales strategy. In a note to shareholders, chairman and CEO Wai Sheung Wong said same-store sales of gold products rose by 23 per cent and of gem-set jewellery by 5 per cent.

    Luk Fook Hong Kong and Macau sales led the way, rising 17 per cent, with gold products up 30 per cent, during the three months to September 30.

    However, depreciation of the Renminbi led to a higher tendency for customers to purchase lower-value items, resulting in a single-digit drop in the average selling price of gem-set jewellery products.

    The jeweller’s fortunes appear to have endured after the quarter ended.

    “In the first two weeks of October, the growth momentum of Hong Kong and Macau market

    continued, with same-store sales sustained at a double-digit growth. As for the mainland market, because of the large number of outbound travellers during the long holiday period and a high base, same-store sales of self-operated shops recorded a double-digit drop in the first two weeks of October,” said Wong.

    During the quarter, there was a net addition of 57 Lukfook shops on the mainland: 62 more licensed shops and five fewer self-operated shops.

    At the end of the quarter, Luk Fook had 223 self-operated shops, including 151 in Mainland China, 50 in Hong Kong, 11 in Macau and 11 overseas. It had a further 1500 licensed shops on the mainland, one in Cambodia and one in the Philippines, taking the total network to 1725.

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  • Maison Kitsuné Targets $100 Million in Sales from Its Expansion Plan

    Maison Kitsuné Targets $100 Million in Sales from Its Expansion Plan

    Parisian ready-to-wear label Maison Kitsune has announced plans to expand in Asia. The firm is targeting €100 million in sales with an ambitious store rollout in the region, as well as establishing a genderless label and branded hotel in Bali. It already operates 16 stores in Paris, the US, Japan and Hong Kong, with a product line carried at 400 additional stockists.

    On Friday, Maison Kitsune will open its first flagship and cafe in Seoul, partnering with South Korean conglomerate Samsung. Next year, the brand will open in Indonesia and greater China, where it plans to open more than 50 stores within the next four years.

    Japanese fashion group Stripe International took a minority stake in the company two years ago, helping the firm achieve €40 million (US$46 million) in sales last year.

    Co-founder Gildas Loaec says the company is at a turning point.

    “We have a good momentum and a lot of followers; we want to expand our growth further. Within the next five years we aim to generate €100 million in annual revenue.”

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  • Rebranding for luxury resale site Vestiaire Collective

    Rebranding for luxury resale site Vestiaire Collective

    Vestiaire Collective is refreshing its image as the luxury resale site looks to grow sales in Europe and Asia. The branding changes involve a new, black-and-white logo, that will feature on updated packaging. Vestiaire Collective is also launching a campaign which promotes resale as a modern alternative for the luxury and sustainability-conscious consumer. It will roll out in Europe and Asia Pacific spanning television, print, digital and social media.

    Vestiaire Collective’s new look comes after a US$62 million funding round last year, which the company is using to expand internationally. The past 18 months have seen the company enter Asia, open logistics hubs in France and Hong Kong. This month the company is opening a new head office in Paris, on the back of 100 new hires in 2018.

    “It will allow us to speak to a wider audience,” said chief marketing officer and vice president for EMEA Ceanne Fernandes-Wong of using traditional forms of advertising — including black cabs in London and television in France — alongside digital.

    “Resale is not new, it’s not niche, and we want to bring that education that resale is chic and cool… and bring people who would otherwise say, ‘it’s luxury and not for me.’”

    However, Vestiaire Collective faces increased competition from other players in the luxury resale market, which is on track to hit $6 billion in global sales this year, according to Bain.

    Competitors have piled into the space in recent years, including ThredUp, Poshmark and Grailed. The biggest is TheRealReal, which opened its first permanent retail and consignment space in New York in November 2018, after hosting a pop-up a year earlier, and has raised $173 million funding.

    “We want to extend the category in the right way,” said chief operating officer Olivier Marcheteau. “There is €250 billion worth of luxury product sold every year — we’ve probably only scratched that surface.”

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