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Tag: Hong Kong

  • Victoria Beckham launches Hong Kong store, her first outside Britain

    Victoria Beckham launches Hong Kong store, her first outside Britain

    Today, fashion designer Victoria Beckham launched her first shop outside Britain in Hong Kong as she seeks to tap the Asia market despite a downturn in luxury spending.

    Beckham’s store in Hong Kong’s Landmark building lies at the heart of Central.

    The British designer did a final check of the store this morning as crowds of fans waited outside, before sweeping out in a fitted black turtleneck dress and oversized sunglasses, surrounded by security.

    Beckham’s designs are already available in the region, which is the brand’s fastest-growing market.

    Hong Kong is Beckham’s first bricks-and-mortar store outside the UK, designed by London-based architect Farshid Moussavi.

    “The process wasn’t easy… opening a store is a huge project. Together with my team, I’ve worked really hard to get to this point,” she told the South China Morning Post.

    “I know Asian women really understand luxury, good quality and appreciate when garments are made well – and my clothes are,” Beckham added.

    A photo posted on Beckham’s Instagram feed ahead of the launch showed her posing on a plinth next to a mannequin.

    Beckham will also attend Saturday’s amfAR AIDS research fundraiser in Hong Kong, where stars including Uma Thurman will take to the red carpet.

    The new store has been developed in collaboration with Asian fashion retail brand Joyce, which already carries her collections.

    The brand aims at wearable luxury, from jeans and tailored shirts to dresses and accessories. Shirts sell online for around $400 with dresses selling upwards from a few hundred US dollars.

    “I think she’s going to be very popular here,” said hedge fund manager Sally Zhang, 30, after browsing in the store Friday.

    “Compared to other shops, which are too fancy, not fit for the office, this one is quite different,” said Echo Xu, also a hedge fund manager.

    Beckham, 41, opened her first shop in London’s Mayfair in September 2014.

    But despite Hong Kong shoppers’ warm welcome, Beckham faces challenges after the city posted its worst retail sales decline in 13 years in 2015.

    The slump was fuelled by a drop in tourists from mainland China, which has particularly hit sales of luxury goods.

    The Hong Kong dollar has strengthened against the yuan, making it more expensive for mainland visitors to shop. Growing anti-China sentiment in the semi-autonomous city is also keeping some away.

    Hong Kong billionaire tycoon Li Ka-shing said yesterday that the business environment in the city was at its worst for 20 years, with property and retail “doing worse than during SARS,” referring to the 2003 disease outbreak.

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  • U&B supermarket, Hong Kong

    U&B supermarket, Hong Kong

    Within the confines of a limited budget, a Hong Kong design company has created a flexible hybrid space for new local grocery brand, U&B.

    “Low budget doesn’t mean no creativity,” says designer Wesley Liu of award-winning PplusP Designers.

    PplusP Design -U&B grocery store 6

    He used mono materials and colour to transform the space in an engaging way for customers. The store’s interior embraces the elements of U&B’s brand logo, a shopping trolley, and its corporate colour, orange.

    PplusP Design -U&B grocery store 7

    Rather than a traditional white ceiling, it is tangerine and left bare to complement the concrete flooring and generate the feeling of unprocessed surroundings. This is further enhanced by unfinished plywood shelves with black metal highlights, and is in keeping with the store’s non-luxury products.

    PplusP Design -U&B grocery store 3

    PplusP Design -U&B grocery store 5

    PplusP Design -U&B grocery store 2

    All the display units are movable, which gives a great amount of flexibility for layout in the store. Track mounting kits on two sides of the wall panels can be used for suspended display systems.

    Wooden frames at the entrance are used for decoration or seasonal promotions, rather like a window display.

    These unified and simple elements encourage customers to concentrate on the products.

    PplusP Design -U&B grocery store 4

    PPlusP Designers leader Wesley Liu handled the design of the Whampoa Garden, Hung Hum, store. The design company’s team includes architects, interior designers and graphic artists, providing a range of multidisciplinary services for art installations, corporate design, hotels, hospitality, restaurants and retail.

    PplusP Design -U&B grocery store 1

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  • Chinese Estates shares falls as much as 11 per cent despite rise in core profit

    Chinese Estates shares falls as much as 11 per cent despite rise in core profit

    Shares of Chinese Estates dropped as much as 11 per cent on Tuesday despite its core profit jumping 3.4 times last year to HK$16.78 billion, mainly driven by asset disposals.

    The company’s shares end the day 8.65 per cent or HK$1.80 lower at HK$19 after hitting an intraday low of HK$18.50.

    The hefty increase in core earnings, excluding revaluation gains on investment properties, folllowed the sale of investment properties including a Tsim Sha Tsui commercial building, The One, and buildings in Chengdu, Chongqing and Shanghai.

    In a filing to the Hong Kong stock exchange, Chinese Estates said a final dividend of 1 HK cent would be paid, down 98 per cent from 50 HK cents a year ago.

    Shareholders received a conditional interim dividend of HK$2 in January. The group will continue to closely monitor the changes in local consumption patterns – Lau Ming-wai, Chinese Estates

    Net profit, including revaluation gains on investment properties, fell 11.67 per cent to HK$7.72 billion last year due to lower rental income after its disposal of Silvercord and The One in Tsim Sha Tsui.

    Turnover tumbled 41.22 per cent to HK$1.54 billion.

    “The group remains cautiously optimistic in the rental income growth from its retail investment properties,” said chairman Lau Ming-wai, who is the son of Joseph Lau Luen-hung, the firm’s controlling shareholder.

    The group’s overall gross rental income from Hong Kong tumbled 35.23 per cent to HK$1.09 billion last year. Rental income from retail properties fell 50.8 per cent, while rental income from non-retail properties rose 7.09 per cent.

    Lau said some retail business sectors had shown indications of reaching their peaks, especially tourist-related business.

    “Although the group’s well-located retail investment properties in Hong Kong leased well during the year, the group will continue to closely monitor the changes in local consumption patterns, refine its tenant mix, boost customer flow and spending for its retail investment properties by organising various marketing and promotional activities,” he said.

    Lau said the disposal of MassMutual Tower in Wan Chai in January would mean the rental income contribution from office buildings would be significantly lower this year.

    Chinese Estates sold the MassMutual Tower to Evergrande Real Estate for HK$12.5 billion.

    In December , the firm sold the Windsor House in Causeway Bay for HK$12 billion to a company wholly owned by Joseph Lau. The deal will be completed this year.

    It said the majority of the sale proceeds from the sale of Windsor House would be declared as a dividend.

    This month, it said it had entered into a sale and purchase agreement with an independent party to acquire a London freehold property at St George Street, Mayfair, for £121.7 million (HK$2.33 billion).

  • HKIA passenger numbers grow as new stores open at Midfield Concourse

    HKIA passenger numbers grow as new stores open at Midfield Concourse

    Hong Kong International Airport (HKIA) recorded steady growth in passenger volume and flight movements last month. During the month, passenger traffic rose 4.9% year-on-year to 5.7 million, while flight movements increased by 4.5% to 32,625.

    The growth in passenger traffic in February was mainly driven by Hong Kong resident travel, which registered a 16% year-on-year growth over the same month last year. Passenger traffic to / from Southeast Asia and Japan increased most significantly.

    In the first two months of 2016, HKIA handled 11.6 million passengers and 67,820 flight movements, up 9% and 5% from the previous year respectively.

    On a rolling 12-month basis, HKIA has handled 69.5 million passengers and 409,255 flight movements, marking year-on-year increases of 8.4% and 3.8%, respectively.HKIA

    Last month Airport Authority Hong Kong (AA) opened nine new retail shops and a café in the recently-inaugurated Midfield Concourse at HKIA. Additionally, eight retail and three catering outlets are soon to be opened at the 105,000 square metre concourse, including a new multi-category store concept from DFS. The catering outlets will offer café and casual-dining options to departing passengers who have limited time before boarding.

    “The Midfield Concourse will be able to serve an additional 10 million annual passengers in order to meet the increasing passenger volume at HKIA.

    “We are proud to offer extended retail and catering options throughout the concourse, which will let the passengers have a pleasant and enjoyable last-minute shopping and dining experience,”  said Cissy Chan, executive director, Commercial, Airport Authority Hong Kong.

    The airport has also introduced a mobile application, which provides travel information and says it hopes to explore more advances with airport technology.

    HKIA 2C K Ng, executive director of Airport Operations of Airport Authority Hong Kong, said: “To enhance the travel experience for HKIA’s passengers, we strive to provide customer-centric services by leveraging the latest technology, including the introduction of the HKG My Flight mobile application in 2013 that provides airport information, real-time flight status and more.

    “With the application of iBeacon technology, passengers using the HKG My Flight app can receive push notifications of airport information including dining and shopping offers and promotions at the airport. While arrays of initiatives are in the pipeline, we will continue exploring the application of different technologies in daily operations, aiming to enhance mobility, automation, efficiency and convenience for passengers.”

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  • Pop-up space at Hong Kong’s Warehouses on West to host Spanish chef Carlos Garcia Rodriguez

    Pop-up space at Hong Kong’s Warehouses on West to host Spanish chef Carlos Garcia Rodriguez

    Warehouses On West, in Hong Kong’s Sai Ying Pun district, is a commercial and retail community promoting the arts and creative thinking under one roof – well nine roofs, to be precise.

    The brainchild of developer District15, the project – nine ground-floor warehouses repurposed into elegant spaces to house art galleries or restaurants – offers a hip alternative to high-rise retail and office space.

    “We used one of the warehouses as our own office and we realised how great it would be for the spaces to be used as restaurants and art galleries,” says Dinesh Nihalchand, a co-founder of District15.

    Alex Bent, another co-founder, says: “Hong Kong has changed over the past 10 years, with little neighbourhoods opening up all over the city. We want Warehouses On West to be one of those new mini-neighbourhoods.

    The project also features The Warehouse, a 1,762 sq ft space designed to host pop-up product launches, cocktail parties and art exhibitions, and movie screenings.

    Pop-up movement Test Kitchen will be one of the first to try The Warehouse when it brings top Spanish chef Carlos Garcia Rodriguez to Hong Kong for a three-night event that starts on March 24.

    Garcia Rodriguez started his culinary career at one-Michelin-star restaurant Restaurante de Vinis, in Madrid, before honing his skills in London alongside acclaimed chef Alexis Gauthier at one-Michelin-star restaurants Roussillon and Gauthier. Garcia Rodriguez recently opened The Black Pig, in Manila, to rave reviews.

    The pop-up dinner is priced at HK$1,180 (includes drink pairings) per person. For reservations, visit testkitchen_chefcarlos.pelago.events. For details about Warehouses On West, go to warehousesonwest.com

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  • Honey Birdette eyes Hong Kong

    Honey Birdette eyes Hong Kong

    Upmarket Australian lingerie retailer Honey Birdette is preparing to open its first retail store in Hong Kong.

    Honey Birdette was founded in 2006 by Eloise Monaghan offering premium lingerie and sex toys and entered a strategic partnership with multi-brand Australian retailer BB Retail Capital in 2011. It now has 45 stores in Australia.

    In what will be the brand’s first international foray, two stores will open in central London within the next six months, the first in Covent Garden.

    Following that, Honey Birdette will open in Hong Kong, Tokyo, Paris and Rome, the company has revealed, before entering the US.

    Separately, BBRC has announced an international expansion of its more mass market chain Bras N Things, with the first two stores opening in South Africa.  That brand has 170 stores in Australia and New Zealand and BBRC is planning on expanding into other international markets as well, but has not specifically referred to any Asian ambitions.

    “Bras N Things has an established and enviable reputation in Australia and the time is now right to expand beyond our shores, taking our expert fit service to new markets and empowering women globally,” said Bras N Things CEO, George Wahby.

    BBRC is best known in Asia as the owner of the Lovisa chain of accessories stores.

    Honey Birdette, meanwhile, is clearly targeting a high income demographic. In the UK retail prices are expected to start at £60 (US$85) for a bra and £30 ($43) for a pair of briefs.

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  • Sephora launches online store for Hong Kong

    Sephora launches online store for Hong Kong

    Sephora has launched an e-commerce platform for the Hong Kong market.

    Part of the ongoing international expansion of its online retail arm, the online store will offer brands unavailable on the ground in Hong Kong, such as Butter London, Skin Inc and Nudestix.

    The LVMH-owned perfumery chain has yet to establish a bricks-and-mortar presence in the country, and commentators are suggesting that the online store will serve as a sounding board to test out the appetite for the retailer’s products and services.

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  • Hongkong Land’s 2015 results in line with expectations and support its ratings

    Hongkong Land’s 2015 results in line with expectations and support its ratings

    Hong Kong, March 10, 2016 — Moody’s Investors Service says Hongkong Land Holdings Limited’s (HKLH) results in 2015 reflected lower underlying profit but were in line with expectations and continue to support its A3 issuer rating.

    The results also support the A2 issuer rating of Hongkong Land Company Limited, a wholly-owned subsidiary of HKLH.

    The outlook for all ratings remains stable.

    “HKLH’s overall financial profile remained strong, despite the company reporting lower profitability and weaker financial metrics in 2015 as a result of lower earnings in its property development business,” says Joe Morrison, a Moody’s Vice President and Senior Credit Officer.

    HKLH’s revenues for 2015 grew by 3% year-on-year to $1.93 billion, as both rental income and property development revenue experienced moderate growth during the year.

    However, its adjusted EBITDA fell by around 14% year-on-year to $1.08 billion in 2015 due to an 11% year-on-year drop in the underlying operating profit of its property development business to $354 million. The drop was caused by completion and delivery of lower margin projects along with lower provision write-backs for two residential projects in Singapore during the year.

    Nevertheless, HKLH’s financial profile continues to support the A3 rating level. HKLH ‘s adjusted EBITDA interest coverage — which excludes fair value gains, but includes dividends from associates and joint ventures — was 7.9x for FY2015, down from 9.3x in 2014, while adjusted debt/EBITDA increased moderately to 3.6x from 3.4x.

    “The company’s investment property business remained strong in 2015, and the limited office supply situation in Central will continue to support its rental and occupancy rates over the next two years,” says Morrison.

    HKLH’s office vacancy rate declined to 3.4% at end-2015 from 5.4% at end-2014, while average office rents remained stable. Retail space remained fully let, with average net rent increasing around 3.3% year-on-year to HKD221 per square feet.

    The vacancy rate of HKLH’s Singapore office portfolio remained low at 3% at end-2015 compared to 1.7% at end-2014. However, taking into account the committed area under new leases, the adjusted vacancy would have been 1% at end-2015.

    The company’s rental income grew around 1% year-on-year to $851 million, benefitting from positive rental revisions for its Central office and retail portfolio during 2015.

    Moody’s expects HKLH’s EBITDA interest coverage and adjusted debt/EBITDA to weaken moderately over the next 2 years, as the company raises debt for potential land acquisitions and development projects.

    The impact should be mitigated by the contribution from property development. At end-2015, HKLH had unrecognized contracted sales of USD821 million for its projects in Mainland China, with around 70% scheduled for delivery in 2016.

    HKLH’s liquidity profile remained robust. The company had cash of $1.6 billion and committed unutilized facilities of $2.5 billion at end-2015. These resources are more than sufficient to cover its short-term debt of $169 million over the next 12 months.

    The principal methodology used in these ratings was Global Rating Methodology for REITs and Other Commercial Property Firms published in July 2010.

    Hongkong Land Holdings Ltd is a Bermuda-incorporated holding company engaged in property investment, management, and development. HKLH is 50%-owned by Jardine Strategic Holdings Ltd. (A2 stable).

    The Hongkong Land Company Ltd (A2 stable), incorporated in Hong Kong, is a wholly owned subsidiary of HKLH and holds the group’s portfolio of 5 million square feet of prime office and retail space in Hong Kong, the Central portfolio.

     

  • Woodland looking at franchising

    Woodland looking at franchising

    Indian footwear and outdoor gear brand Woodland is planning to open stores in China, Malaysia and Singapore along with franchising its brand in other markets.

    Woodland is also taking the eCommerce route as part of its expansion, and is hiring social-media teams to run campaigns and online selling platforms in local languages.

    After announcing plans two years ago to launch 25 stores across China, it has subsequently opened “about a dozen stores” in Hong Kong. Its products are available through distributors in Singapore, and the company plans to enhance its global distributor networks. It aims to add at least 10 retail outlets internationally over the next two years.

    While the first few international stores will be company owned, MD Harkirat Singh says Woodland is open to franchisee formats for serious investors. The global stores will be a mix of independent stores and shops in shops.

    Singh says the product line in international markets will be customised to suit the region’s climate. according to the climatic conditions of the region. Woodland looks to tap the fast-growing extreme-weather outdoor gear market both in national and international markets, and claims to already have an 80 per cent market share in this segment in India.

    “While we have grown at an average of 15 to 20 per cent year-on-year in the past two to three years, the outdoor category has grown exceptionally in the past five years, says Singh. “Outdoor gear has become a lifestyle item, making our brand more popular.”

    Founded in Canada in 1992, Woodland is owned by Delhi-based Aero Group, which has its own leather-tanning and production units in Bangladesh, Canada, China, Indonesia, Macau, Malaysia, Sri Lanka, The Philippines and Vietnam, and as well as India.

  • Ensogo mobile marketplace takes wings

    Ensogo mobile marketplace takes wings

    Ten weeks after its launch, the mobile marketplace of Australia-listed Hong Kong-based eCommerce platform Ensogo has reported “exceptional” growth.

    Ensogo connects products for sale to more than 600 million consumers throughout Hong Kong, Indonesia, Malaysia, Singapore, The Philippines and Thailand.

    Ensogo app

    The company says its marketplace’s inventory has rocketed 3000 per cent, with the number of sellers swelling 600 per cent over the first two weeks of January, following a strong fourth-quarter.

    “The introduction of Ensogo’s mobile marketplace represents a game-changing shift for the business,” says co-founder and CEO Kris Marszalek. “Since its launch, we have seen an exponential increase in both new and active sellers, adding hundreds of thousands of products to our offering.

    “Exciting merchandise is a prerequisite to successful customer acquisition and retention, and Ensogo now offers consumers across the region a vastly expanded and truly exceptional range of products at competitive prices.”

    Powerful personalisation technology drives product discoverability while creating individualised shopping experiences on the marketplace, which with its rapid traction underscores the company’s transition away from its legacy services business. Along with changing trends and consumer behaviours in Southeast Asia, the company believes a streamlined offering is critical as the business moves into its next stage of growth. “The eCommerce opportunity in Southeast Asia is enormous, and has immense potential for further growth,” says Marszalek.

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  • Big discounts and store closures expected as luxury brand Tonino Lamborghini exits Hong Kong

    Big discounts and store closures expected as luxury brand Tonino Lamborghini exits Hong Kong

    Luxury brand Tonino Lamborghini, which carries apparel, accessories and leather goods, will exit Hong Kong amid poor sales performance of the city’s luxury market, with more than 10 independent shops and in-store counters shutting down soon.

    A shop assistant at its Tsim Sha Tsui store, who has worked for the company for more than 10 years, told the Post that she and other staff members would soon have to find new jobs.

    “We were told all the stores in Hong Kong would be closed, but the company didn’t say exactly when,” she added.

    This comes as another blow to Hong Kong’s battered luxury goods market, after American brand Coach closed its four-storey flagship store in Central and British fashion house Burberry reduced the size of its Pacific Place store, its largest in the city, by 50 per cent.

    Tonino Lamborghini, an Italian brand, was started in 1981 by the son of sports car maker and industrialist Ferruccio Lamborghini, though the two companies remain separate.

    The brand has retail stores in Hong Kong and Macau which sell a variety of luxury products including apparel, bags, shoes and watches.

    Discounts of as much as 70 per cent were offered to the customers in the retailer’s last battle to empty its warehouses in the city. In one of its shops in Jordan, signs which said “Exit Hong Kong” and “Closing Down Sales” had appeared in the store window.

    According to Tonino Lamborghini’s official website, it has 18 shops and in-store counters all over Hong Kong, with many of them located in tourist districts such as Mong Kok and Tsim Sha Tsui.

    Since last year, the luxury retailer has been quietly closing down some of its stores and in-store counters, said the long-time staff member. She added that only a few stores remain open currently.

    Rebecca Tse So-han, general manager of marketing at Yata department store, where the brand had occupied a counter for more than 10 years, said the counter closed in January after its lease expired.

    “Their sales performance was not particularly good … but it was not too bad either,” she said, adding that the retailer had chosen not to renew the lease, not the other way around.

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  • Harbour City books HK$5.94b retail revenue

    Harbour City books HK$5.94b retail revenue

    Revenue at Tsim Sha Tsui’s popular luxury shopping mall, Harbour City, (excluding hotels) increased by 6 percent to HK$8.56 billion, Wharf Holdings (0004) reported today.

    Operating profit grew by 6 percent to HK$7.48 billion. Retail revenue increased by 5 percent to HK$5.94 billion.
    The occupancy rate was nearly 100 percent, the company reported today.

    New openings or commitments including Miu Miu (Canton Road), Philipp Plein, J. Crew, Pandora, Sulwhasoo and Rado further improved the tenant mix, the company said. The introduction of various Hong Kong and Kowloon debuts across distinct categories including Maison Margiela, Issey Miyake, Christian Louboutin Men and Tea WG Boutique continued to raise the retail and culinary experience, Wharf said.

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  • Forever 21 To Open Second Hong Kong Store in Hong Kok

    Forever 21 To Open Second Hong Kong Store in Hong Kok

    US fast-fashion retailer Forever 21 will open its second store in Hong Kong this year, capitalising on the shift in consumer demand from luxury to non-luxury products.

    “Due to the demand of our consumers, we have continued our expansion throughout Hong Kong and mainland China. Hong Kong also has a vibrant history of international business and we saw a lot of potential for growth, which is why we wanted to bring a second Forever 21 store to this space,” the fashion retailer said in an email reply to Retail in Asia.

    The new store will be located at Pakpolee Commercial Centre on Mong Kok’s Sai Yeung Choi Street, trading over 18,804 square feet, people familiar with the matter told Retail in Asia.

    “Mong Kok offers a premier shopping experience and we believe it is a good fit for our second store in Hong Kong. We are very selective in choosing a location for any store. We make it a top priority when selecting a new location to ensure that it is accessible to customers and that it can house and properly represent our merchandise, staying true to our brand,” noted Forever 21.

    The fashion chain will pay a monthly rent of HKD2.5 million (USD321,000) to lease the three-story retail space with a ground-floor entrance, according to the source. The first floor and the ground floor were currently taken by cosmetic retailer Sa Sa with a monthly rent of HKD1.25 million. The second and third floors were leased to California Fitness for about HKD1 million per month. The fitness center moved out three years ago.

    The new store is estimated to open in late summer or early fall this year according to Forever 21.

    With a monthly rent of HKD2.5 million for its new store, Forever 21 made the largest retail leasing transaction in the fourth quarter of 2015 in key shopping destinations of Hong Kong, according to data compiled by Retail in Asia. It demonstrates the retailer’s confidence in the market’s potential for cheap chic fashion which also supports CBRE’s prediction that mid-range brands are set to expand in Hong Kong when luxury retailers are struggling with declining sales and leaving core retail locations.

    CBRE believes that Hong Kong will transform from a luxury goods oriented retail market to a mid-range market. “Mid-market retailers will benefit from the change in spending patterns and remain the main demand driver for retail space. Some of them will use this window of opportunity to re-establish themselves in prime locations and/ or expand their retail networks,” the real estate adviser said in its latest report Hong Kong Retail MarketView Q4 2015.

    With Forever 21 opening another store in Hong Kong, more mid-market retailers are expected to ride on the wave and expand their store networks in the city.

    Founded in 1984, Forever 21 now operates more than 730 stores in 48 countries. The brand debuted in Asia in 2008 by launching the first store in Seoul, followed by its second in Japan the next year.

    In 2012, the US retailer entered Hong Kong by unveiling a six-floor flagship store in the in the Capitol Centre of Causeway Bay. It paid a monthly rent of HKD11 million for the 51,188-square-foot space.

    The fashion retailer currently has 16 stores in Greater China which include 12 stores in mainland China, 1 in Hong Kong, 1 in Macau and 2 in Taiwan.

    Aside from Hong Kong, Forever 21 also plans to expand its retail footprint into other markets in Asia although it didn’t disclose the details. “In 2016, we plan on expanding our store presence in Japan, Indonesia, China, and the Philippines,” the fashion retailer told Retail in Asia.

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  • Toys’R’Us Asia Pacific chief retires

    Toys’R’Us Asia Pacific chief retires

    Toys’R’Us has announced that Monika Merz, president, Asia Pacific, will retire effective May 31. Her successor will be named later.

    Monika-Merz

    As president of Toys’R’Us Asia Pacific, Merz oversees all operations and business activities for the company’s more than 300 stores in Japan, Southeast Asia, Greater China and Australia, responsible for the continued growth, profitability and success of the company in those markets.

    Since she started working at Toys“R”Us, Merz has been instrumental in the development of new store formats and merchandising concepts that have been successfully translated to other markets, ultimately strengthening the company’s position in the global marketplace.

    Dave Brandon, chairman and CEO, described Merz as a highly regarded leader “who has inspired new ideas, demonstrated innovative thinking and unwavering passion for the business and grown our Toys’R’Us brand internationally, even through challenging times and market transitions”.

    Merz’s retirement will bring to a close a remarkable career of nearly 20 years of continuous service to the company. She joined in 1996 as VP and GM, Toys’R’Us, Canada and was promoted to president, Toys’R’Us, Canada four years later. In 2007, she assumed leadership of Toys’R’Us, Japan. Her role was expanded to include responsibility for the company’s stores in Australia in 2011, and, later that year, she gained oversight of the company’s locations and corporate offices in Southeast Asia and Greater China when the company entered a joint venture agreement with Li & Fung to operate these formerly licensed stores.

    “During my time at Toys’R’Us I’ve had many experiences and challenges, but I’ve always been supported by exceptional teams and leaders,” she reflected. “I’m proud of all that we have accomplished and confident that the work we have done to provide a fun and memorable shopping experience for customers will continue after my retirement. After more than eight years in Asia Pacific, I’m now looking forward to returning to Canada and a new stage in my life.”

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  • Fast rise for Chinese cross-border eCommerce

    Fast rise for Chinese cross-border eCommerce

    Chinese cross-border eCommerce will rise at a rate of 18 per cent annually through to 2020, predicts market research house Mintel in a new report.

    Mintel’s Haitao Retailing says Chinese spending on cross-border eCommerce soared more than 60 per cent in 2015.

    “The reason we chose to do this report was both due to Haitao becoming so large, and because this market is now becoming well-regulated, and encouraged by the central government,” said the report’s author Matthew Crabbe.

    “This was therefore clearly an important development in China’s international trade, its domestic consumer market, and as a route to entry for foreign companies hoping to sell to Chinese consumers.”

    Mintel surveyed more than 3000 Chinese online shoppers, of whom nearly 60 per cent said they had bought foreign products online from domestic shopping websites between June and November.

    The most popular products were beauty and skincare lines from South Korea, Japan and France; and food from Hong Kong, Macau, Taiwan and New Zealand. They also shopped for personal electronic devices from Japan and the US.

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