Charles & Keith is the go-to label for accessible designs that are on the cutting edge of fashion. This October, Charles & Keith has expanded its retail reach by opening two new stores in Hong Kong. These stores would be the first to open in the city.
The new stores are located at Parker House, Central and New Town Plaza, Sha Tin respectively.
Parker House opened two days ago and it occupies a coveted spot in the prime CBD district while New Town Plaza is a trendy flagship shopping centre that offers an exceptional array of shopping, dining and lifestyle facilities.
The aesthetics of the new Charles & Keith stores is inspired by the brand’s refined design philosophy and aim at reflecting a sophisticated simplicity.
To provide customers with a curated experience, each section of the store communicates the different stories of the season.
Hong Kong is listed as one of Asia Pacific’s top 10 most visited destinations for the eighth consecutive year in the Mastercard Global Destination Cities Index 2018 released. Ranked 14th globally and seventh in Asia Pacific, Hong Kong welcomed 9.03 million international overnight visitors in 2017. Despite dropping a notch from ranking the sixth the previous year, the city saw a slight increase in international overnight visitors from 2016 which saw 8.86 million visitors. Overnight visitor arrivals to Hong Kong are forecast to grow by 0.9 percent in 2018.
The city is currently at the tenth spot regionally, and is also expected to see 3.78 percent growth in international overnight visitor spending from US$5.92 billion in 2017.
Ranking the world’s 162 top destination cities, the Index analyzes visitor volume and spending for the 2017 calendar year and provides a forecast for annual growth, insights on the fastest growing destination cities, and a deeper understanding of why people travel and how they spend around the world.
Global & Asia Pacific Highlights:
Bangkok remains to be the No. 1 destination city in the world with 20.05 million international overnight visitor arrivals, while London came in a close second with 19.83 million visitors. Paris and Dubai came at the third and fourth spots, with 17.44 million and 15.79 million visitors respectively. Singapore remains at the fifth spot with 13.91 million visitors.
Forty-eight point five percent of travelers to the global destinations came from China, which ranks at number two among the top origin countries, next to the United States with 57.4 percent.
Dubai continues to be the top ranking destination city in the world based on overnight visitor spend, having recorded an International Overnight Visitor Spend of US$29.70 billion, followed by Makkah and London with US$18.45 billion and US$17.45 billion each.
The top three overnight international visitors in Hong Kong last year were from the Republic of Korea (12.9 percent), the U.S.A. (9.6 percent) and Taiwan (9.5 percent).
Struggling shoe and accessories retailer Le Saunda has shuttered more than 100 stores on Mainland China in the last year as it tries to reduce overheads and return to profit. Group sales fell 14.4 per cent in the first half of this year, to RMB 460.4 million, (US$66.1 million), gross profit margin slipped 3 per cent and the company recorded a loss of RMB 9.6 million (US$1.4 million), compared with a profit of RMB22.9 million in the same period last year.
The company blamed a slowing of retail sales in Mainland China for its poor result, with same-store sales down 10.2 per cent, as well as a decline from the closure of unprofitable stores.
On the mainland, Le Saunda shuttered 96 of its self-run stores, cutting its network back to 549 and a further eight franchised outlets were closed, leaving a total network of 611.
In Hong Kong and Macau, where sales rose 4.5 per cent, it closed one store leaving 10.
Le Saunda chairman James Ngai said the company’s reduced gross profit margin was a result of lowering prices to meet market demand. The growth rate of fashionable ladies’ footwear sector had “slowed down significantly” on the mainland, Le Saunda’s core market, he said.
“With a change in customers’ buying behaviour, the e-commerce segment experienced rapid expansion, striking a tremendous hit on the sales of traditional retail stores.
“To cope with the ever-changing market environment, the group is fully committed to enhancing product quality, promoting a new pricing model, enhancing consumers’ shopping
experience and thereby improving same-store sales,” said Ngai.
“Facing the challenges posed by the economic environment, the group is determined to [return] to the basic principles of retailing, which include adjusting the pricing strategy, closing down low-profit stores, and actively exploring its franchise and wholesale businesses.”
With Hong Kong and Macau sales up, totalling RMB 30.7 million, Ngai said the group would pursue growth there “in a proactive yet prudent manner and establish new stores in desirable locations”.
Le Saunda designs manufactures and retails shoes and accessories under the Le Saunda,
International skincare and beauty firm Estee Lauder has featured AI technology in its Estee Wonderland Christmas campaign in Hong Kong.
The Quantum Human technology is an automated AI scan-to-avatar system that makes the customer the hero or heroine in their own virtual fairy tale.
The carousel-themed Estee Wonderland promotion also features pop-up counters, where visitors can take a “magical carousel ride” into a favourite childhood fairytale as their avatars travel through time in a 22-second virtual reality movie.
The technology is the brainchild of eight years of research and development. It uses expertise previously reserved for Hollywood productions to create virtual characters. The avatar automation process takes only a second.
Unlike 3D scanning, where data cannot be used in media other than 3D printing, the Quantum Human technology enables true automation of the virtual identity creation en masse in full detail. As opposed to the month-long manual process, Quantum Human brings 3D avatars to life in minutes – 10,000 times faster than the manual process – making it viable for a broad spectrum of uses.
The promotion has finished at Estee’s Langham Place store before moving to New Town Plaza, Sha Tin from November 10-18 and Ocean Terminal at Harbour City from November 26 to December 4.
MOKUTAN, Hong Kong’s latest sleek and contemporary Japanese Izakaya, celebrates grand opening in the vibrant heart of Tsim Sha Tsui at Empire Prestige. An exclusive, hole-in-the-wall gem designed for epicureans in the know, MOKUTAN offers a repertoire of high-quality, seasonal specialties, highlighting three affordable Omakase menus from HK$288.
MOKUTAN boasts a design that is reminiscent of Japan’s zen character. An expansive white wall marks the entrance to the restaurant, projecting a sense of simplicity that contrasts the eclectic bustle signature to Tsim Sha Tsui. Inside, down-to-earth materials such as packed earth, wood, and paper are used to give the space a minimalist feel, paying homage to an era of Japanese history.
An intimate space which seats 26 people, the L-shape open kitchen offers the perfect opportunity for diners to see the culinary team in action.
MOKUTAN’s three Omakase menus include a 9-course option featuring Chef’s choice of appetizer, meat and vegetable skewers, simmered dish, and soup (HK$288); or a 13-course menu showcasing more lavish dishes at HK$428. Those who crave for a complete MOKUTAN Izakaya experience may enjoy a sumptuous 18-course menu at HK$688, sampling an appetizer, 6 meat skewers, 6 vegetable skewers, a simmered dish, soup, grilled dish, seasonal seafood and rice.
Crafted to highlight the authentic flavors of Japanese Izakaya, MOKUTAN’s a la carte menu showcases a robust choice of Japanese classics. Chicken yakitori, the quintessential staple, features Satsuma chicken fresh from Kagoshima. It is presented in a multitude of ways; demonstrating the different flavors from a whole bird. Highlights include the bird’s neck, kidney, skin, heart, and tail, all of which are perfectly grilled under the expert hands of the culinary team.
Meat lovers can also enjoy classic skewers such as Minced Chicken (HK$48), Angus Beef Short Rib (HK$66), and a selection of seafood highlighting MOKUTAN Threadfin (HK$168), Water Eel (HK$68) and Yellowtail Joint (HK$138), while vegetarians have a vast menu of seasonal vegetable skewers to choose from. Japanese favorites such as Onigiri (Japanese Rice Balls, HK$38-HK$48), Ochazuke (Rice in Green Tea Soup, HK$48), Onsen Tamago with Black Truffles (HK$68), Grilled Dried Cod Fish (HK$198), and Cheese Mochi (HK$28) serve as delectable side dishes.
Offering business executives the ideal Japanese lunch option is MOKUTAN’s special bento menu, featuring signature dishes such as the “MOKUTAN Threadfin” (HK$128) a light tasting but firm white fish and “MOKUTAN Chicken” (HK$98), a perfectly grilled chicken yakitori drenched in house special sauce that brings the right amount of fuel to power through the afternoon slump. Those who desire something heartier may opt for the succulent “Pork Belly” (HK$98), the melt-in-your-mouth Angus Beef Short Rib (HK$128), or the tender and distinctively taste “Lamb Chop” (HK$118). All lunch sets are served with daily special appetizer, soup, salad, and rice.
Complementing the yakitori experience, diners may choose to pair their meals with premium sake such as Daina, Born and Dassai; while luscious plum wine from Dewatsuru Kimoto Junmai make a perfect aperitif.
“The simplicity in which yakitori is presented masks the technique and skill that goes into the dish,” shares Benson Ling, co-owner of MOKUTAN and brainchild of trendy sushi roll concept – Chottomaki. “At MOKUTAN, we are delighted to bring a genuine Yakitori experience in a relaxing and intimate setting.”
View the gallery of the newly opened restaurant below (7 images) :
Hong Kong’s contemporary Tabehoudai (all you can eat) Japanese buffet RONIN JAPANESE CUISINE (WANCHAI) is celebrating a new facelift introducing enriched lunch and dinner menus showcasing freshest ingredients and seafood.
The restaurant’s quality Tabehoudai dinner, uniquely enjoyed at leisure without time limit from 6:30 pm to 10:30 pm daily, is priced just HK$328 (HK$188 for children and elderly) from Sundays to Thursdays, or HK$348 (HK$208 for children and elderly) on Fridays, Saturdays, public holidays and eves of public holidays.
Offering business executives the ideal lunch option is a wide selection of fresh sashimi and sushi, Japanese donburi, tempura and sukiyaki sets range from HK$68 – HK$188, highlighting Special Sashimi Platter (HK$68), 8 Kinds of Sushi (HK$138), Ronin Deluxe Sashimi Donburi (HK$150), Ronin Tempura Set (HK$188), Grilled Steak & Foie Gras with Wasabi Sauce (HK$158), Pan-fried Lamb Rack and Prawn with Japanese Style Sauce (HK$148) and another enticing choices.
In celebration of the new facelift, RONIN JAPANESE CUISINE (WANCHAI) is introducing a special early lunch promotion till 12:30 pm, featuring sumptuous Diced Sashimi Donburi and Onsen Egg and Beef Donburi at only HK$50, including soup and a drink, available 7 days a week.
On special promotion through November, guests who check-in via Facebook or Instagram additionally receive a complementary ‘Seafood Platter’, presenting the finest catch of the day.
RONIN JAPANESE CUISINE (WANCHAI)’s fresh and welcoming new look introduces a serene and contemporary Japanese design in dark wood with minimalist décor in earthy tones for an authentic and affordable Japanese dining experience in a rustic and friendly atmosphere.
RONIN JAPANESE CUISINE (WANCHAI) has attracted a loyal following since opening in 2014 – inspired by the spirit of samurai warriors known by the same name during Japan’s feudal era (1185-1868), who grew tough from confronting various challenges. Likewise, the brand is dedicated to overcoming obstacles and challenges with the dedicated goal to serve only the very best to customers, including top quality ingredients flown jet fresh daily from Japan.
RONIN JAPANESE CUISINE (WANCHAI) is part of the Top Standard Corporation stable of Hong Kong restaurants that also encompasses premium sister Japanese restaurant RONIN JAPANESE CUISINE (CENTRAL) in Wellington Street; iconic Chinese dining destination San Xi Lou at Coda Plaza, Mid-Levels and Times Square, Causeway Bay; and Pure Veggie House at Coda Plaza, Mid-Levels.
View the gallery below for the new look of the restaurant (6 images) :
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.”
Chow Tai Fook sales soared 25 per cent in Hong Kong and Macau in the September quarter. On the mainland, sales rose by a solid 15 per cent. Same-store sales rose 23 per cent in Hong Kong and Macau and by 6 per cent on the mainland, according to a stock exchange filing by the company.
But same-store volume growth told a different story: down 2 per cent in Hong Kong and Macau and up 1 per cent on the mainland, reflecting weaker gold prices which correspondingly drove more customers into stores.
Chow Tai Fook’s sales of gold products grew by 41 per cent in Hong Kong and Macau and by 11 per cent in Mainland China
Chairman, Dr Henry Kar-Shun, described the Hong Kong and Macau market growth as “impressive” during the quarter, “benefitting from buoyant consumer spending and resilient mainland visitation”.
He said the same-store sales performance of gold products in both markets was driven by the increase in weight per piece sold. The company’s same-store average sale value on the mainland was HK$4000 compared to $3600 in the preceding quarter, while in Hong Kong and Macau, it rose from $7100 to $8500.
The average international gold price declined by 5 per cent year on year during the quarter to September 30.
Chow Tai Fook opened a net 162 points of sale in Mainland China during the quarter, which
included 158 new Chow Tai Fook Jewellery spaces, three SoInLove spaces and one Chow Tai Fook T Mark space.
In Hong Kong, Macau and other markets, the group opened one Hearts On Fire space and closed two CTF Watch stores in Hong Kong, and opened one Chow Tai Fook Jewellery space in South Korea. As at September 30 the company had 2822 points of sale globally.
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.
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.
Castore Hong Kong is set to launch next month. The British sportswear brand will launch websites in Hong Kong, South Korea, Singapore and Japan, and will sell its men’s sportswear range in Hong Kong through local partner Harvey Nichols.
Harvey Nichols merchandising manager, menswear Marco Lau said Castore creates cutting-edge fitness apparel for athletes who demand both function and style.
“The multi-purpose use of Castore kit, from outdoor running to indoor gym training, appeals to the Hong Kong consumer and we have no doubt the brand will be a great success.”
Castore’s head of Asia, David Wakely, said Asia offers a huge opportunity for Castore.
“The brand has been incredibly well received to date by customers across the region and we are very excited to continue our growth going forward.”
Co-founder Tom Beahon said the brand’s customers in Asia tend to be professionals, either locals or expats, who take their fitness very seriously.
“So the demographic fit is perfect for us. We see huge potential among the residents and the millions of tourists who visit Hong Kong and are actively looking at locations to open a standalone Castore Hong Kong store.
“Sales in Asia are growing at 400 per cent a year and are on track to account for 40 per cent of international sales in the next 12 months.”
Weizhong Zhu (“Wilson”) has joined Li & Fung as Chief Operating Officer (COO) and will lead operations across all Li & Fung’s 40+ production countries. As Li & Fung pushes ahead on its digital supply chain strategy to build the Supply Chain of the Future, Wilson will focus on strengthening the Company’s production platforms globally, ensuring consistent KPIs and driving operational excellence to improve customer service.
A 31-year industry veteran, Wilson brings deep expertise in international trade relations and supply chain for retail and consumer products.
His vast industry experience includes Chief Sourcing and Production Officer at Gymboree, EVP for Private Brand and Global Sourcing at Michaels Stores Inc, VP of Private Brand and Global Sourcing at Office Depot, and VP for Global Sourcing at Hudson’s Bay Company.
Most recently, Wilson co-founded Cooper Aerobics Wellness Center in China, the first fitness and wellness center of its kind in China, and prior to that, he served as Chairman and CEO of inQbrands, where he led the transition of the US subsidiary of China-based Focus Technology into a full-service brand and product agency.
“With the ongoing US-China trade war, Wilson’s leadership comes at a critical time as our customers rely on our scale and expertise to deliver alternative sourcing strategies and mitigate any potential risk in their supply chains” said Spencer Fung, CEO of Li & Fung.
Wilson Zhu received his Master of Arts degree in Language and International Trade from Eastern Michigan University in 1987.
Passionate about sharing knowledge and ideas, Zhu was a columnist for China’s New Fortune business magazine from 2013 to 2016 and regularly contributes to other media outlets on globalization, retail, management, branding and China-US trade relations.
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.
Beauty brand 3INA, following its success in the Chinese platform Xiaohongshu, launched in Hong Kong yesterday. Since the 3INA customer is the Millennial, the digital platforms have been a large part of the brand’s marketing and selling strategy. Social media and influencers have been key to its success.
Launched in 2016 by Eve and Pablo Rivera, the very first 3ina makeup store was opened in London in February last year. Offering professional grade European-made cosmetics at an accessible price tag, 450 products across six categories, and trend-savvy products launching every four weeks, the British beauty brand was an instant hit.
Hong Kong people will enjoy 3INA colorful mood at its first flagship store in T.O.P This is Our Place in Mong Kok with an assortment of over 700 products.
3INA already has 27 stores in over nine countries around the world, including Australia, Belarus, Greece, Italy, India, Malta, Spain, South Africa, UK, and now Singapore.
Hong Kong has experienced a surge in fraudulent banking websites this year. In August alone, there were 15 reports of such incidents, compared with only two cases of fake websites or phishing attempts in the same month a year ago, according to the Hong Kong Monetary Authority (HKMA). In September, seven incidents were reported, up from one a year ago.
And the trend seems to continue, with eight cases reported in October so far. Customers of DBS, Hongkong and Shanghai Banking Corporation, as well as Dah Sing have been among the targets of the criminals. With the rise of financial technology firms and mobile banking apps, experts predict that novice mobile banking users will become prime targets.
Digital Banks Attract Attackers
While the use of digital banking tools is spreading quickly, the technology is also attracting the attention of cybercriminals, said cybersecurity specialist Securelist in a report earlier this year. «We are sure that the world of cybercrime will see increasing attacks against this type of banks and their customers,» Securelist said in its report.
Fraudsters have long tried to trick users to visit fake bank website via e-mail messages pretending to be from the bank. On these fake websites, they try to trick account holders into revealing their access credentials. On mobile devices, the connection with the bank is typically via an application, rather than a website.
Tricks Of Criminals
Banks’ usage of chat applications increases the possibility that criminals could try impersonating the bank in social media chats and try to trick users into downloading and installing an «updated» version of the bank’s app. In reality, such an app would be malicious and could help attackers steal credentials from the phone.
«Other social engineering scams have emerged which try and trick the genuine user into revealing the authentication code for their chat app and hence lose control of the account. Even if this is only temporary, it may allow enough time for a fraud to be perpetrated,» Jackson said in an interview.
Attacks Focused On Smaller Vendors
Experts predicts there could be more attacks on fintechs or payment providers going forward. This is due to lower investments into cybersecurity versus traditional banks, and criminals’ evolving technological skills.
«Large financial organizations invest considerable resources in cybersecurity, thus the penetration of their infrastructure is not an easy task. However, a threat vector that is likely to be actively used by cybercriminals in the coming year is attacks on software vendors supplying financial organizations,» Securelist said. Most of these vendors have a lower level of protection compared with the financial organizations themselves.
Attacks Via Software
For the coming year, the cybersecurity experts expect criminals to stage attacks via software for the finance business, including such for ATMs and PoS terminals. «A few months ago we registered the first attempts of this kind, when attackers embedded a malicious module into a firmware installation file, and placed it on the official website of one of the American ATM software vendors,» Securelist wrote.
Based on a 2017 study by Accenture, the financial services industry posted annual costs of nearly $18.3 million per firm from cyber attacks.
