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Tag: Hong Kong

Chow Tai Fook takes on landlords
Hong Kong jeweller Chow Tai Fook is flexing its muscle in a softening retail rental market, in search of lease cuts of as much as 20 per cent.

The listed firm says some 30 leases throughout the territory will come up for renewal later this yr and the corporate will probably be in search of reductions within the wake of a difficult retail market which has seen gross sales plunge in some luxurious classes.

In an interview revealed on Bloomberg on-line, MD Kent Wong stated the corporate has already been granted reductions of between 10 per cent and 20 per cent in renewal negotiations this yr, however he didn’t reveal the variety of leases concerned.

He advised Bloomberg that circumstances in 2015 are “very particular”.

“We’re demand pushed; we anticipate we will have a 20 per cent rental discount.”

Chow Tai Fook has reported a fall in same-store gross sales in Hong Kong and Macau of 26 per cent within the first quarter of this yr – the fifth consecutive quarterly fall.

Wong stated his firm might shut some shops this yr – singling out its Peak outlet for instance.

The jeweller has 90 shops in Hong Kong, interesting largely to Mainland Chinese language vacationers. However customer numbers from China have been falling, and people nonetheless coming are much less prosperous than the standard guests of previous years. These with larger disposable incomes have began travelling additional afield, many spooked by the Occupy Central protests of the second half of final yr.

The mainland authorities’s clampdown on present giving has additionally affected gross sales of upper priced luxurious items in Hong Kong.

Regardless of a lower in complete retail gross sales of two.three per cent in Hong Kong in the course of the first three months of 2015, Wong expects a restoration later within the yr.

“The market basically wants six months to at least one yr to restructure the product combine catering to the altering style of consumers,” he advised Bloomberg.

“We stay optimistic about Hong Kong within the mid- to long-term.”
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May 20, 2015
MetaPack expands into Asia with Hong Kong workplace
The MetaPack Group, the main supplier of e-commerce know-how for supply providers, as we speak introduced its enlargement into Asia with the opening of operations in Hong Kong. With workplaces in the UK, France, Germany, Poland and the USA at present, the institution of a Hong Kong workplace is additional proof of MetaPack’s dedication to worldwide progress.

Asia varieties a serious a part of MetaPack’s evolving international technique to turn out to be the e-commerce supply buyer expertise know-how platform of selection globally. Buying German delivery fulfilment specialist XLogics and US delivery platform suppliers Abol in 2013 and 2014 respectively, MetaPack has seen speedy progress because the launch of its distinctive SaaS platform in 2008. This development is about to proceed because it expands outdoors Europe and the USA.

The division will probably be headed up by Peter Winslow, who just lately joined MetaPack as VP of Higher China. Previous to becoming a member of MetaPack, Winslow was the managing director at InXpress, an authorised DHL Categorical reseller concentrating on SMEs in Hong Kong. He constructed up his wealthy information of the area’s supply business and tendencies by way of holding a collection of high-level roles at each DHL and UPS in Asia and Australia. MetaPack is planning to capitalise on Peter’s 35 years of expertise in cross-border provide chain freight and categorical enterprise in Asia to focus on sellers who’re delivery their merchandise everywhere in the world.

Patrick Wall, CEO of MetaPack, stated: “Not solely are we happy to announce the opening of our Far East Asia HQ, however we will really feel assured that the brand new workplace shall be in protected palms with Peter approaching board with us. He has the management expertise, enterprise relationships and business information that may assist us develop quickly within the Far East.”

Winslow stated: “The Far East is an space the place e-commerce is rising at an outstanding fee, and that’s the reason this can be very thrilling to be getting into the market and facilitating cross border on-line commerce. There’s an awesome alternative to attach European retail manufacturers with Asian shoppers in addition to assist native Asian retailers and carriers rework the web shopper expertise and supply a more sensible choice of extra aggressive supply providers.”
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May 11, 2015
Shanghai Tang launches fragrance range
Hong Kong born luxury fashion label Shanghai Tang is expanding from fashion and homewares into the fragrance business.

While Shanghai Tang, now part of French based Richemont Group, has offered scents for some years, this week’s launch takes it into the top tier of parfumeries.

The Silk Road Fragrance Collection, the company says, “conjures up the spirit of adventure through a sensory journey from East to West – reflecting the essence of the brand which fuses Chinese with Western fashion”.

“Inspired by the exotic landscapes, rich colors and sense of adventure of the Silk Road, our master parfumier has created for Shanghai Tang a captivating collection of precious fragrances… infused with all the mystery and sensuality of the Silk Road.”

The parfumier is Carlos Benaim, a past winner of the prestigious American Society for Perfumers Lifetime Achievement Award for his contribution to the world of fragrance who has created signature scents for brands including Armani, Carolina Herrera, Prada and Maison Martin Margiela.

Drawing on his personal travels in China, Benaim designed the collection to pay tribute to the grandeur of Chinese culture through a suite of eight multi-layered, unique scents – five for women and three for men. Each highlights one or two exceptional ingredients that evoke the romance of the ancient caravans carrying Chinese treasures along the Silk Road to the western world.

Each fragrance is housed in precious bottle that prominently features the Shou. This Chinese symbol of longevity is cited as one of the Five Blessings: longevity, wealth, health, love and virtue.
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May 4, 2015
Starbucks Hong Kong opens new Landmark cafe
Starbucks Hong Kong has opened a new cafe in the heart of Hong Kong’s Sheung Shui.

The cafe is unique in that it features an indoor brewing and restaurant area together with a large, open air verandah seating space.

The new cafe opened this month in Landmark North, a 230,000 sqft shopping centre connected to the Sheung Shui MTR station close to the Shenzhen border crossing.

The new cafe will be open from 8am to 10pm daily.

Starbucks Hong Kong and Macau is run by master franchisee Maxim’s Group.
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April 30, 2015
Bagllerina Hong Kong opens in Sogo
French ballerina shoe brand Bagllerina has opened its first store in Hong Kong’s Causeway Bay.

Founded in 2011 by Christine Natkin, Bagllerina specialises in handmade, foldable ballerina shoes that are comfortable, simple and elegant made from 100 per cent leather.

Observes fashion blogger Butterboom: “We are big advocates of comfortable shoes especially with the amount of walking we do in Hong Kong. You can slip your heels in a matching leather small bag while wearing a pair of Bagllerina, and slip out of them once you’ve arrived at your destination to switch to your heels.”

Bagllerina Hong Kong has opened on level B1 of the Sogo shopping centre at 555 Hennessy Rd.

Bagllerina shoes come in more than 70 colours and three different cuts, with a new version, the Summerfeet cut, described as ‘sandals with a bit of hell” due soon.

For more details of the range, and images from Bagllerina, read Butterboom’s report.
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April 28, 2015
Mongkok raid after Snake powder poisoning
Hong Kong’s Department of Health has urged the public not to buy or use a product, branded Snake Powder Capsules, as it was found to contain undeclared controlled drug ingredients.

The warning follows the admission to hospital of a 58 year old male, poisoned by the tablets, and a subsequent raid of a retail store in Mong Kok, and the arrest of its two staff.

The man was admitted to hospital with chest pain and swelling. He had a history of consuming Snake Powder Capsules, purchased locally. Preliminary test results from the HA’s laboratory revealed that the product may contain undeclared Part I poisons and antibiotics. The DH conducted investigation immediately.

A Chinese medicine centre in Mong Kok was subsequently raided in a joint operation by the DH and the Police. During the operation, a woman aged 50 and a man aged 29 were arrested for suspected illegal sale and possession of Part I poisons, an unregistered pharmaceutical product and antibiotics. Snake Powder Capsules were found and seized for analysis. The Government Laboratory has now confirmed that the product contains dexamethasone, ibuprofen, chlorpheniramine, tetracycline and chloramphenicol.

According to the Pharmacy and Poisons Ordinance, all pharmaceutical products must be registered with the Pharmacy and Poisons Board of Hong Kong before they can be sold legally in the market. Illegal sale or possession of unregistered pharmaceutical products and Part I poisons are criminal offences. The maximum penalty for each offence is a fine of $100,000 and two years’ imprisonment. In addition, the Antibiotics Ordinance prohibits illegal sale and possession of antibiotics. Offenders are liable to a maximum penalty of a $30,000 fine and one year’s imprisonment for each offence.

A DH spokesperson strongly urged members of the public not to buy or use products of doubtful composition or from unknown sources. All registered pharmaceutical products should carry a Hong Kong registration number on the package in the format of “HK-XXXXX”. Safety, quality and efficacy of unregistered pharmaceutical products are not guaranteed.
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April 27, 2015
Ted Baker Hong Kong flagship opens

Ted Baker has opened a new flagship in Hong Kong – inspired by the style of the territory.

The UK-based retailer has created a unique store design which incorporates famous Hong Kong themes such as the city’s skinny double decker trams.

The end result is a mix of British and Hong Kong – tongue and groove timber ceilings with train carriage styled lights suspended on both sides give the feel of being inside a vintage Hong Kong tram.

Timber panelling on the lower wall, with a blurred image sitting behind glass evoke the feeling of looking through the window of a speeding tram.

The front of the Ted Baker Hong Kong store features vertical panels of glazed tiles, similar to those on the London Underground.

And as shoppers climb the stairs to the store’s second floor, images of Hong Kong’s modern skyline convey the feel of a steep ascent on the territory’s popular Peak tram.

There are rows of model trams at the cashier’s desk and custom designed wallpaper featuring old tram tickets in the fitting rooms.

The store is in the Fashion Walk Mall, Causeway Bay.

April 27, 2015
Hong Kong retailer raided for illegal medicines

Hong Kong police and Department of Health officials raided a retail shop in Cheung Chau on Monday for the suspected illegal sale and possession of unregistered pharmaceutical products.

The DH says that during its routine market surveillance, it found suspected unregistered pharmaceutical products were being offered for sale at the shop.

“Various products, including pain killers, cold and flu medicines, and cream, labelled in Japanese were seized in the operation. The products were labelled to contain ibuprofen, dihydrocodeine, fluocinolone and neomycin respectively.”

According to the Pharmacy and Poisons Board of Hong Kong (PPBHK), these are not registered pharmaceutical products and Hong Kong registration numbers were not found on any of the product labels. Preliminary investigations have so far revealed that the products were sourced outside Hong Kong.

A man aged 57 was arrested by police and charged with suspected sale and possession of Part I poisons, unregistered pharmaceutical products and antibiotics.

The DH’s investigations are ongoing.

“Use of unregistered pharmaceutical products may pose health threats to people as their safety, efficacy and quality are not guaranteed. Ibuprofen, dihydrocodeine and fluocinolone are Part I poisons. Inappropriate use of steroids like fluocinolone may cause serious side-effects, such as Cushing’s Syndrome with symptoms including moon face and muscle atrophy while inappropriate use of pain killers like ibuprofen without medical supervision may lead to gastrointestinal bleeding, and products with dihydrocodeine may cause nausea and vomiting.

“Neomycin is an antibiotic and inappropriate use of antibiotics may lead to antibiotics resistance. Members of the public should not self-medicate without advice from healthcare professionals,” a spokesman for the DH explained in a statement.

According to the Pharmacy and Poisons Ordinance (Cap 138), all pharmaceutical products must be registered with the PPBHK before they can be sold legally in Hong Kong. Part I poisons should be sold at pharmacies under the supervision of registered pharmacists.

Illegal sale or possession of unregistered pharmaceutical products and Part I poisons are criminal offences. The maximum penalty for each offence is a fine of $100,000 and two years’ imprisonment. According to the Antibiotics Ordinance (Cap 137), illegal sale or possession of antibiotics is also a criminal offence. The maximum penalty for each offence is a fine of $30,000 and one year’s imprisonment.

The DH renewed its warning to the public not to buy or use products of unknown or doubtful composition or from unknown sources.

“People who have purchased and used the above products should consult healthcare professionals for advice. They may submit the products to the DH’s Drug Office at Room 1856, Wu Chung House, 213 Queen’s Road East, Wan Chai, Hong Kong, during office hours for disposal,” the spokesman said.

April 22, 2015
Lazada brings new growth opportunity to crossborder sellers
Southeast Asia’s leading ecommerce player Lazada is offering Hong Kong and China-based brands and merchants the opportunity to expand their businesses to the fast-growing region. Launched in the first quarter of 2012, Lazada Group operates Lazada, the leading online shopping and selling destination for assorted merchandise in Southeast Asia, with presence in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Its operations also extend to Hong Kong, which functions as a sourcing hub.

The online shopping mall features an extensive product offering in categories ranging from consumer electronics to household goods, toys, fashion and sports equipment.

Being active for three years, Lazada has rapidly grown to a reported USD1 billion of annualized gross merchandise value (GMV) in March 2015. Its shopping sites and mobile applications welcome over 4 million visits daily and 55 million unique visitors monthly.

“We see tremendous potential in Southeast Asia as consumers continue to embrace online shopping largely facilitated by the rise of internet and increasing mobile penetration. As the leading ecommerce player, we offer brands and merchants in Hong Kong and China with the only single retail gateway to enter Southeast Asia,” Aimone Ripa di Meana, CEO Crossborder, Lazada Hong Kong said in a media briefing on Thursday.

The AT Kearney report Lifting the Barriers to eCommerce in ASEAN published on February 2015 showed that ecommerce represents around 1 percent of total retail sales in Southeast Asia compared to 7.2 percent in China, highlighting the massive potential and room for growth in the coming years.

Ever since its launch, Lazada Group has grown rapidly to include approximately 4,000 employees across Southeast Asia. The company has the largest Facebook following in Southeast Asia with over 12 million fans.

The online retailer is pioneering ecommerce in the region by providing customers with an effortless shopping experience with multiple payment methods including cash-on-delivery, extensive customer care and free returns. Lazada provides brands and merchants with simple and direct access to approximately 550 million consumers in six countries through one retail channel. The e-commerce giant offers sellers a one-stop solution to Southeast Asia through its fully integrated online platform where they can manage product assortment, pricing, promotions and orders.

“Prior to Lazada, there has never been a one-stop retail solution addressing local requirements across six diverse countries,” said Meana. “The opportunity for sellers in Hong Kong and China to capture the growth and build their future in Southeast Asia is now.”
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April 22, 2015
Rebecca Minkoff plans Asian assault

Fashion brand Rebecca Minkoff plans to open up to six stores in Hong Kong by 2018 as part of a broader Asian rollout.

The new 585 sqft store in Hong Kong’s Ocean Terminal in Tsim Sha Tsui marks not only its standalone store debut, but the first step in a planned Greater China entrance.

It will also expand its stores in Korea and within the next 18 months open in the Philippines, Thailand, Singapore, Malaysia and Indonesia.

At the same time it is targeting the US, with a Los Angeles stores planned by June this year and another in Chicago by year’s end.

“We want to focus on these really great supercities and Hong Kong is definitely one of them,” Minkoff said in an interview with WWD.

“I love the fashion here. It’s a very edited view and I think they take more risks.”

Japan has marked the only blemish to date in the brand’s Asian ambition. While it has 12 points of sale there it had to close its flagship in Tokyo’s Ginza last year.

“We found that’s not the right location for our customer. That’s a very Fifth Avenue-type of customer whereas we [attract] a more [Greenwich] Village and SoHo-type customer,” Minkoff said.

April 20, 2015
Hong Kong border mall delayed

Planning requirements – not this week’s visa clampdown – will delay the proposed Hong Kong border mall.

Secretary for Commerce and Economic Development, Gregory So, said the government still supports the concept – which would see 300 trading stores opened on a site close to the Shenzhen border in prefabricated buildings.

But the development has been delayed due to the need for zoning changes and may not now be trading before Christmas.

So said the newly introduced once a week visit limit on mainland residents with multiple entry visas would not affect the plan.

“The “one trip per week” measure is really to deal with parallel trading. I think what Mr Wong (Ting-kwong) and the proponent of this project are looking at is to increase the capacity to receive tourists, and also to enhance the facilities in terms of providing shopping opportunities,” So told a reporter after the Legislative Council met.

“It is really business opportunities for both the businesses as well as for the tourists to enjoy these facilities. So, I believe the proponent is still very optimistic about this project.”

So described the current plan as “a good pilot project” and said he encouraged projects of similar nature if this one is proven to be successful.

“Perhaps this mode of operation could be extended to other places and thereby increasing our tourist capacity.”

Answering a follow-up question, So said the centre’s location near the border would ensure its success, “because it will be a lot more accessible to tourists across the border”.

“That is the business model as I understand.”

April 20, 2015
Sa Sa wins investor honours
Beauty products retailer Sa Sa International Holdings has been named “Best Investor Relations Company (Hong Kong)” for the fourth consecutive year by Corporate Governance Asia Magazine at the 5th Asian Excellence Awards.

And CFO and executive director Dr Guy Look was named “Asia’s Best CFO (IR)”.

Sa Sa says the awards testify to the recognition from the investment and finance community on the group’s operational strategies, financial performance, investor relations, corporate governance and ethics, as well as corporate social responsibility.

Look said the company was “deeply honored” to win the dual awards.

“Sa Sa has always strived to be accountable to our stakeholders and in particular the investment community. We uphold strong corporate governance and incorporate it into our corporate culture and operations. These two awards are definitely a great encouragement to our team.

“We will continue to make ongoing efforts to improve our investor relations work, and thrive to attain the highest standards in the industry.”

The IR honour reflects Sa Sa’s “transparent and effective communication with stakeholders through detailed, timely and fair disclosures” while the CFO accolade is given to CFOs in recognition of their ability to lead a team with vision and experience to maintain outstanding financial performances and operational strategies regardless of economic conditions.
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April 20, 2015
Tunique Hong Kong eyes Paris
Paris-raised jewellery designer Amandine de Mascarel is plans to take her unique Hong Kong retail concept back to the home of fashion.

de Mascarel already has three Tunique boutiques in Hong Kong and says a fourth will open in Causeway Bay in about one month from now.

And she has revealed to Inside Retail Asia she wants to open a store in Paris, one of her home countries – she was born in Korea, raised in France and now lives in Hong Kong where she is building a retail brand.

She describes Uber Tunique – the brand of her larger showcase stores – as a “one-stop, multi-trend lifestyle shop where ethnic chic meets edginess, glam, bohemian and kitsch”.

Uber Tunique is “an emporium of stylistic exploration that defines the very essence of founder Amandine de Mascarel and her natural instinct for creativity and style”.

Prior to opening her stores, de Mascarel worked with global brands including Louis Vuitton and L’Oreal in Paris.

While starting with affordable jewellery, de Mascarel has expanded her concept to include home products, décor, fragrances and textiles, allowing customers to create one-off costume jewellery pieces, as well as a coordinated home environment that truly defines their own individual style. She wants Uber Tunique to be known as ‘the’ Hong Kong gift destination.

The first Uber Tunique lifestyle concept stores opened last year in Central and Wanchai along with a Tunique Jewellery and Accessories store in Repulse Bay.

The new store in nearby Causeway Bay will take the network to four.

The stores are at: Uber Tunique: Central: 7 Mee Lun St, Shop B; Wanchai: 3 St. Francis St; Tunique: 28 Beach Rd, The Pulse Mall, Repulse Bay.
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April 17, 2015
Burberry Hong Kong blights sales
Burberry says its first half sales rose nine per cent – with double digit growth in the US making up for declining sales in Hong Kong.

“Asia Pacific delivered low single-digit percentage comparable sales growth,” the company said in a statement.

Within this, China and Korea grew by a mid single-digit percentage, while Burberry Hong Kong, a high margin market, decelerated further during the period, resulting in a mid single-digit percentage decline in comparable sales in the half.

Hong Kong’s performance was so bad, it dragged the overall Asia market growth (excluding Japan) to a mere four per cent, by far it lowest performing region.

“Digital again outperformed in all regions.”

Burberry’s revenue for the six months to March 31 totalled £1.4 billion. Sales growth was in the double digits for North America and the combined Europe, Middle East, India and Africa region.

Sales by the company’s own retail channels rose by 13 per cent – significantly outperforming total revenue growth.

CEO and creative director Christopher Bailey described the half year performance as “robust” despite the Burberry Hong Kong disappointment.

During the second half, Burberry opened seven mainline stores and closed nine. Openings included a flagship in Rodeo Drive, Los Angeles, a store in the Miami Design District, as well as a second dedicated Beauty store globally, in Seoul, Korea.

Due to the phasing out of the Japan license arrangement, the company’s licensing sales were down by 40 per cent, but sales from directly-operated stores in the nation rose by more than 30 per cent.

During the six months, Burberry opened a flagship in Osaka, its fifth free-standing store in Japan, relocated the store in Omotesando, Tokyo, and opened three concessions, taking the network 13.

Concluded Bailey: “We anticipate external challenges will continue in the current year, but remain confident in our long-term strategy to build the Burberry brand and business globally.”

At the end of March, Burberry had 214 retail stores globally, 213 concessions, 57 outlets and 67 franchised stores.
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April 17, 2015
Maison Valentino Hong Kong
Subtle gray tones, ‘cracked’ floor effects and strong lighting ensure Valentino’s boldly coloured fashion take centrestage in the newly opened Maison Valentino Hong Kong flagship.

The new store, formally opened in February, was designed by the Italian brand’s creative directors Maria Grazia Chiuri and Pierpaolo Piccioli in partnership with architect David Chipperfield.

Located on Canton Rd, the 900sqm flagship store takes up two floors at the base of a modern office tower.

It’s ultra modern, stylish yet minimalist and the combination of strong architectural lines, discrete materials in contrasting greys and stylish visual merchandising make the store a standout amongst its many peers in the heart of Hong Kong’s luxury precinct.

The store’s lower level features the Maison’s complete collections, including both womenswear and menswear ready-to-wear and accessories.

The stairwell is lined with mannequins striking different poses, each wearing contrasting, brightly-coloured Valentino creations.

Upstairs is a more ‘curated’ area, almost of gallery style.

The Hong Kong store is one of two opened by Valentino in February – the other in the Kingdom Tower in Riyadh, Saudi Arabia, further expanding the brand’s global footprint.
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April 14, 2015