Retail News CRM

Tag: Hong Kong

  • Beauty&You : The ultimate customer experience

    Beauty&You : The ultimate customer experience

    The Shilla Duty Free, one of the world’s leading travel retail companies, has unveiled their new retail stores at Hong Kong International Airport (HKIA) following a successful six-month soft launch period.

    The Grand Opening Ceremony featured the unveiling of the full Beauty&You concept store and a spectacular K-celebrity guest line-up to commemorate the special occasion.

    Attended by esteemed VIPs including Shilla’s senior management, representatives of the Airport Authority Hong Kong, brand and business partners, as well as media, the elaborate event began with the official ribbon cutting ceremony at the main East Hall outlet, followed by guided tours introducing the new store experience.

    Guests were then invited to attend a special showcase by KPop sensation Highlight, Shilla’s new brand ambassador for 2018-2019. Highlight brought their energy and enthusiasm on stage through a series of performances and interactive games with fans.

    “We are very pleased to announce the grand opening of The Shilla Duty Free’s brand-new retail stores at one of the busiest airports in the world,” says Alice Woo, Managing Director of Shilla Travel Retail Hong Kong Limited, “With the highly-anticipated launch of Beauty&You, we hope to redefine the airport retail experience and customer journey with a comprehensive brand profile presented in an interactive and engaging environment. Our aim is to deliver the ultimate shopping experience to a diverse audience in one of the most robust travel markets in the world.”

    The Shilla Duty Free’s Beauty&You concept symbolises the brand’s commitment to deliver a comprehensive beauty retail experience and be at the forefront of the experiential retail trend.

    ‘Beauty’ and ‘You’ together represent beauty tailored to each individual customer and the infinite combinations available through the multitude of brands and experiences. Crafting the notion that beauty retail can surpass the limitations of cosmetics and skincare products and become associated with fashion and accessories, this retail concept gives room for all definitions of beauty.

    With around 200 brands on offer, The Shilla Duty Free will also bring a list of premium brands new to HKIA, including David Beckham’s global grooming brand HOUSE 99; the best of Korean and Japanese brands like The History of Whoo, su:m37º , THREE, ReFa; image-maker NARS; Italian crafted luxury leather goods labels and accessory brands Bresciani, Maglia Francesco, Victrix; as well as fashion accessory brands like Alexander McQueen and Didier Dubot, just to name a few.

    More than 60 new brands will join our extensive brand selection in offering an innovative and enjoyable shopping experience for customers.

    Furthermore, the new concept revolves around curated hospitality on par with the superior product offerings to create a seamless retail experience. Designed to provide “journeys of discovery” for every customer, the engagement zones together with the stores’ professional beauty and fashion advisors, all offer personalized recommendations. Customers will explore a space meant not only for shopping, but also for retailtainment, in discovering their very own beauty preferences.

    Representing how modern and travel-savvy customers shop, the new retail stores have
    incorporated a blend of branded and non-branded counters, as well as engagement zones where brands and categories come together under a single umbrella. These special lifestyle and themed areas are designed to enhance the retail experience through engaging customer interactively into immersive experience spaces.

    They include Elements – an area dedicated to gentlemen-specific products, New Generation – a section showcasing the best of Korean and Japanese cosmetics and
    perfume brands, and a dedicated Curated Zone, where Shilla will collaborate with different brands each month to feature themed selections and trendy looks with perfume, cosmetics and fashion products on display. In the grand opening month, Lancôme will be presenting a selection of their best-selling items through their “Pink Time” showcase. SK-II and The History of Whoo will also be featured in the Curated Zone, with different interactive elements in visually striking displays to appeal to customers.

    In these engagement zones, The Shilla Duty Free has incorporated the use of digital technology to offer an enhanced shopping experience. Our own Shilla Beauty Selfie makeup app in New Generation invites customers to virtually try on looks from various brands such as Anna Sui, Innisfree, KATE, Etude House, THREE, Ladurée, NARS and Urban Decay. More animated features such as “Get the Look” and “Magic Mirror” are designed to communicate the most updated beauty and fashion trends, promising fun and informative tips.

    Other in-store activities during the opening period highlight Shilla’s brand partners, such as Atelier Cologne’s engraving service, M.A.C.’s interactive ‘selfie’ machine, which allows users to simulate different lip colours and instantly print out photos. Cartier Eyewear and Perfume have also partnered up for the first time to introduce their Panthère range in a stunning display.

    All Beauty&You stores offer Arrival Pick-Up services for a hassle-free traveler’s shopping experience. Customers can visit and purchase at any Beauty&You stores before departure and collect the goods at the pick-up counter in the Arrivals Hall store upon their return to Hong Kong International Airport.

  • Malin + Goetz debuts in Hong Kong IFC Mall

    Malin + Goetz debuts in Hong Kong IFC Mall

    Skin-care brand Malin + Goetz has opened its first store in Asia, located in Hong Kong’s IFC mall.

    Selling high-quality, small-scale production items, the new 400sqft location is the firm’s 11th store worldwide, with other locations limited to New York (where the company launched in 2004), Los Angeles, and London. The store’s design, by New York-based architect Andrew Bernheimer, is unlike any of the brand’s other outlets, which each have their own unique look to reflect local features. The Hong Kong fit-out is influenced by the city’s 1970’s architecture and its “Blade Runner” apartments with their prominent air-con fans.

    According to co-founder Matthew Malin, who was present at the Hong Kong launch, “We have a very cosmopolitan, international customer, and they’re traveling all over the world, and we see a lot of people from Hong Kong in all of our US and UK stores, and it just made a lot of sense… People here take beauty very, very seriously, and they take shopping very seriously, so we would be remiss not to be here.”

    The company’s founders are continuing research the Hong Kong market and are already planning a second location in the city.

  • HK’s first ever Lipstick Tasting Bar at Harbour City

    HK’s first ever Lipstick Tasting Bar at Harbour City

    Women use lipstick as a statement; Lipstick Lex as a tool to create art.

    Until 22 July, Harbour City presents “Sun Kissed Summer – lipstick art exhibition” in the Atrium II of Gateway Arcade.

    The renowned American lipstick artist Lipstick Lex is holding her first solo exhibition in Hong Kong.

    Lex demonstrates how to use over ten thousand kisses to create her largest piece of kiss print “Victoria Harbour Sunset” in Harbour City.

    Harbour City, as the mall with the largest number of beauty brands (over 320 brands) in Hong Kong, also holds the first ever “Lipstick Tasting Bar” which have 34 brands and over 200 shades of lipsticks in one stop for trial.

    To create a better customer experience, Harbour City is using Facebook Chatbot and digital panel to make an interactive game for customers try on the desired lip colors according to the game result.

    “Sun Kissed Summer – lipstick art exhibition” will now exhibit 22 pieces of Lex artworks of which more than half is newly created for this exhibition.

    The inspiration behind this new series comes from the animals and plantations in Florida’s tropical environment such as Flamingo, Sea Turtles, Plum trees and pineapples etc. Her artwork combines the colorful lipstick colors and kiss prints in order to spread a positive message of love, merriment, beauty and feel-good vibes all around.

    Besides, Lex is using the theme of “Victoria Harbour” to tailor make her giant artwork – “Victoria Harbour Sunset” for this exhibition. This is the largest piece which she has ever created, 3-meters long, made by more than ten thousand kiss prints and lipsticks from over 20 brands. The drawing is about a beautiful sunset scene with a sailboat sailing to Victoria Harbour.

    Alexis Fraser, a.k.a. Lipstick Lex, is an artist from the United States, Florida. Starting at an early age, Lex enjoyed and excelled at creating art in fun and interesting methods. Back in 2012 Lex was challenged to create a portrait of Marilyn Monroe, utilizing a non-traditional method that would still correlate with Marilyn.

    Utilizing 100% lipstick and her fair share of kiss prints, Lex soon launched her alternative contemporary art brand, “Lipstick Lex”. Videos showing her unique lipstick painting skills have also gone viral in Youtube and other social media platforms. Lex has previously exhibited her works in Japan, Europe, Canada and the United States; and has held speaking engagements discussing her artworks mission.

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  • CBRE appoints appointed Tom Gaffney for The Greater Bay Area and Hong Kong

    CBRE appoints appointed Tom Gaffney for The Greater Bay Area and Hong Kong

    CBRE has appointed Tom Gaffney as Regional Managing Director for The Greater Bay Area and Hong Kong with immediate effect. In this newly created role, Gaffney oversees all CBRE’s business activities in the newly-formed economic hub.

    Gaffney joined CBRE in 2016 as the Managing Director for CBRE Hong Kong, Macau and Taiwan.

    The establishment of CBRE’s new business geography reflects the firm’s goals to enhance its market leadership in the fast-growing area.

    The Greater Bay Area, comprised of Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing, represents the growth of a connected economic powerhouse and offers vast business opportunities.

    CBRE currently runs three corporate offices in the region: Hong Kong, Guangzhou and Shenzhen with numerous site offices across the other cities in the region.

    Ben Duncan, CEO, Greater China, CBRE, said, “Tom has been a tremendous leader who has grown our businesses across all metrics. The new role speaks to his capabilities and our firm’s commitment to deepen our roots in the Greater Bay Area. It is already the world’s the largest bay area in terms of land area and population and presents unprecedented potential for our clients and for CBRE.”

    Gaffney has more than a decade of experience in the real estate industry. Prior to joining CBRE, Gaffney was at JLL as Head of Retail, Hong Kong and China. Before JLL, he worked for Hongkong Land in Commercial and Retail Asset Management in Hong Kong, Singapore and Thailand.

    Tom Gaffney, Regional Managing Director, The Greater Bay Area & Hong Kong, CBRE, said, “I am honoured to have been given this responsibility to drive the firm’s growth in the Greater Bay Area. These are exciting times for the region and the firm, and we are confident that our team will effectively leverage on the opportunities opened to us from the Southern China economic powerhouse.”

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  • Alibaba and Guess’ FashionAI Concept Store unveiled in HK

    Alibaba and Guess’ FashionAI Concept Store unveiled in HK

    GUESS is global strategic partner of Alibaba’s FashionAI project, an initiative to give shoppers a glimpse of what the future of fashion retail will look like.

    Alibaba rolled out a pilot FashionAI concept store on the Hong Kong Polytechnic University (PolyU) campus pairing GUESS’ retail knowledge and latest collections with advanced Alibaba AI and other technology.

    “By partnering with Alibaba, a dominant technology leader, we are changing the retail experience as our customers also evolve,” said José Blanco, CEO of Greater China for GUESS. “It is important that we continuously invest in new technology and platforms. This entire project came together in just five months thanks to a strong partnership between our two companies. At GUESS, we believe in the need to innovate in real time. We plan to extend this project in the region as the future of retail.”

    Besides the FashionAI concept store’s futuristic appeal, the project is aimed at providing a better retail experience for shoppers and to use analytics to help brands be smarter in ordering and maintaining inventory.

    “GUESS and Alibaba share the same vision to understand customer behaviors through technologies, ” said Zhuoran Zhuang, Vice President, Alibaba Group. “With GUESS’ retail expertise, we are able to train and refine our FashionAI system, and marry technology with fashion in a way that’s never been done before. We are looking forward to deepening our partnership to innovate personalized services offered in retail shops.”

    The FashionAI concept store features smart racks, smart mirrors and next-generation fitting rooms.

    Alibaba’s FashionAI system underpins the stores, offering up mix-and-match clothing and accessory suggestionsfor customers from the GUESS line, as well as items sold by others on Tmall and Taobao, China’s biggest B2C and C2C platforms, respectively.

    GUESS launched its store on Tmall at the end of 2013 and the brand has been one of the most popular brands in the fashion apparel category. GUESS’ store has achieved more than 100% growth over the last 3 consecutive years.

    GUESS collaborates with Alibaba closely in the New Retail concept since 2016 with the
    implementation of the O2O project in both online and offline stores.

    The FashionAI concept store, located at the Logo Square of PolyU campus, will be open to the public from July 5-7. It is being set up on the sidelines of the Artificial Intelligence on Fashion and Textile Conference 2018, co-hosted by Alibaba and PolyU.

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  • KitchenAid opens its first experiential flagship store in HK

    KitchenAid opens its first experiential flagship store in HK

    Located at Lee Garden Three in Causeway Bay, the 2,000 square feet experience store does showcases KitchenAid’s bestselling small appliances and the recently launched range of major household appliances.

    To celebrate the store’s grand opening, a feast for the senses was hosted by Italian chef Daniele Paralovo alongside model and culinary goddess, Danielle Peita Graham.

    The highlights of the event included a live cooking demonstration and food-themed hair accessories by stylist Alistair Rae. The larger than life KitchenAid Artisan stand mixer on display at the store was also the centre of attention.

    Founded in 1919, KitchenAid’s story begins in 1908 when engineer Herbert Johnson came up with the idea of a stand mixer after observing a baker mixing dough and thought there should be a better way of doing the task.

    Almost a decade after the initial introduction of KitchenAid’s iconic stand mixer, the appliance brand has presence in 92 countries all over the world, in which Hong Kong is the second flagship experience store after Korea in Asia.

    As a favourite of tastemakers and creative cooks such as French chef Oliver Baiard and American cooking guru Julia Child, KitchenAid is known for its bold yet sleek design and professional performance.

    Some of the most loved KitchenAid designer appliances include their iconic fridge and stainless-steel kitchen appliances that are as sophisticated as fine art.

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  • The Shilla officially launches Beauty&You

    The Shilla officially launches Beauty&You

    Korean-headquartered travel retailer The Shilla has officially launched its Beauty&You concept stores in Hong Kong International Airport (HKIA) after a six-month soft launch.

    At the launch, Shilla Travel Retail Hong Kong MD Alice Woo said: “We hope to redefine the airport retail experience and customer journey with a comprehensive brand profile presented in an interactive and engaging environment. Our aim is to deliver the ultimate shopping experience to a diverse audience in one of the most robust travel markets in the world.”

    In line with experiential retail trends, Beauty&You offers curated hospitality with high-end product offerings to attempt seamless retail experiences. In a statement, the company said the store is designed to provide “journeys of discovery” for every customer, with professional beauty and fashion advisors placed in engagement zones with both branded and unbranded counters, offering personalised recommendations.

    The retail space is not only designated as a shopping environment, but also for “retailtainment” where customers may explore their own beauty preferences by experimenting with combinations of multiple brands and experiences – involving digital elements such as virtual makeup apps and VR headsets, as well as instant photo printing and even a ‘lucky claw machine’.

    The store will stock around 200 brands, including premium labels not otherwise available at HKIA. These include David Beckham’s House 99; Korean & Japanese beauty brands The History of Whoo, su:m37o, Three, and ReFa; image-maker Nars; Italian-crafted luxury leather goods and accessory brands Bresciani, Maglia Francesco, Victrix; and accessory brands such as Alexander McQueen and Didier Dubot.

    To mark the official launch and the 20th Anniversary of HKIA, in-store promotions and discounts will be held throughout July.

    View the images of the newly launched villa below :

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  • Tsui Wah Mainland coming for some help

    Tsui Wah Mainland coming for some help

    New stores in Mainland China helped mitigate a tough consumer market in Hong Kong for listed restaurant-operator Tsui Wah Group.

    The company ended the year with 70 restaurants – a net increase of five in Mainland China, one in Hong Kong and an unchanged three in Macau.

    Total revenue reached HK$1.84 billion (US$234.5 million)for the year to March 31, down by a marginal 0.3 per cent with a 4.3 per cent decline in Hong Kong offset by a 7.8 per cent increase in Mainland China. Profit attributable to shareholders fell 11.4 per cent to $80.77 million.

    Chairman and executive director Lee Yuen Hong said the retail market in Hong Kong experienced “a progressive improvement” during the period, however, selling and distribution expenses as well as property rental and related expenses had increased, which presented challenges to the group’s results.

    “The PRC market benefitted from rising purchasing power amongst the general population, and the revenue from the group’s branches in Mainland China also correspondingly increased.”

    Tsui Wah launched two new self-developed brands last year: Beat Bakery, which uses flour imported from Japan with healthy eating as its core theme, and Nijuuichi Don, featuring Japanese fast-food.

    The group also opened a new restaurant concept, Maomao Eat, which serves authentic Hong Kong-style snacks in the Tai Kwun Centre for Heritage and Arts, in Central. “Maomao Eat also incorporates vegetarian elements in its menu by partnering with Green Monday, a non-profit organisation that promotes a healthy diet and sustainable living,” he said.

    The company opened eight new Tsui Wah branches in Hong Kong and Mainland China, three in Shanghai, and three in the south.

    Tsui Wah also sealed a partnership with Singapore’s Jumbo Group to open and operate a Hong Kong-style Cha Chaan Teng under the Tsui Wah brand. Hong said the restaurant, which opened in mid-June, leverages off Jumbo’s strong presence in Singapore.

    “The group is confident this joint venture will be successful and will enable Tsui Wah and its products to establish an excellent international reputation among the 5.6 million residents of Singapore.”

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  • Korean Brands Increasing Popularity Among Hong Kong Consumers Over Japanese Brands

    Korean Brands Increasing Popularity Among Hong Kong Consumers Over Japanese Brands

    A Nielsen report shows Korean products have usurped the popularity of Japanese products among young Hong Kong consumers.

    The report traces the local market’s perception of Japanese and Korean trends to assess which is perceived as being more popular. It shows that for the first time, more than half of respondents aged 18 to 54 are confident in the longevity of Korean pop-culture influences in the near future.

    Some 80 per cent of millennials, in a response pattern that skewed towards women, preferred Korean trends. And 88 per cent of higher-income respondents were shown to have strong brand recognition for Korean products and to have visited Korea twice within the last year.

    Key drivers behind Korean trends are shown to be entertainment, fashion, and personal care targeted at millennial buyers. Korean food products are also increasingly popular in Hong Kong.

    A third of all respondents indicated an intention to increase spending on Korean products in future.

    Nielsen Hong Kong & Macau’s MD Michael Lee said: “With the Korean market slowly emerging in Hong Kong, Korean brands can succeed and win Hong Kong customers’ buy in by being more customer focused, showing emphasis on product quality and charging a premium with innovation. This will certainly open up a new market for opportunities to come”.

    The Nielsen report’s release coincides with an announcement by Chinese online marketing platform iClick Interactive Asia Group that it will form a strategic partnership with MezzoMedia, a Korean digital marketing solutions firm. The move is intended to further open the large Chinese consumer base up to Korean brands.

    MezzoMedia senior VP Kim Jin-Kyu said: “As one of Korea’s largest agencies, we work with brands that have significant appeal to the Chinese consumer… [iClick] will allow targeting into the largest internet audience in the world. In addition, their strategic relations with Tencent, Baidu and Ctrip give access to premium inventory.”

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  • Subway Hong Kong to open more stores

    Subway Hong Kong to open more stores

    Subway Hong Kong is embarking on an expansion strategy, scouting for new locations and new franchisees as it unveils a restaurant and menu makeover.

    Next month, a 900sqft Subway outlet which seats 40 will open at City University in Kowloon Tong. Not only will it be one of the chain’s largest restaurants in the territory, it will be a showcase of the brand’s future here.

    “Basically it’s Subway stepping into the 21st Century,” Subway Hong Kong & Macau Development Office GM Jamie LeBrun said.

    Subway Hong Kong currently has 25 outlets across the two territories. Three of those are in the process of being refurbished in the new look and style and more stores are under development or planning. Within the next 10 years, Subway Hong Kong plans 100 new outlets.

    “Our franchise family is growing with four new franchisees this year and we are looking for engaged and dedicated franchisees with a team player mentality to join us,” said LeBrun.

    Dubbed Fresh Forward, the new store design features light, bright colours, digital menu boards, the new generation Subway logo and graphics, and self-service beverage areas. Gone are the stained timbers and dark colour schemes, the result of a root-and-branch revamp of the brand’s positioning in the US, where Subway’s fortunes aren’t currently as buoyant as in Hong Kong. Some of the local stores may feature self-ordering kiosks in time.

    Fresh produce will be on display, addressing the fact Hongkongers don’t realise vegetables like tomatoes, capsicums and cucumbers are delivered fresh and whole to be cut on site, says LeBrun.

    Besides the fresh style, new stores like the one at City University will be set up to cater better to online ordering.

    “With the move towards services like Deliveroo and Foodpanda, we have redesigned the back of house so where we have a prep bench, you can lift it up and you’ll have a salad bar so you can assemble orders at the back of the store for delivery. So when orders are coming in online during peak hours, someone will be out the back preparing orders and not interfering with the in-store trade.”

    LeBrun says some Hong Kong Subway stores can earn up to 25 per cent of their sales online.

    “That’s how big the online space is. When it’s raining, no one wants to go out and pick it up. People have got short lunchtimes too – no one wants to go stand in line.”

    Localised menu

    Adapting the menu to local customers is also a focus.

    “Product innovation is a cornerstone of future success. But we really were not doing a lot of that until now. So far this year we have already released six new products including a Prime Australian Beef Pastrami  and we are launching avocado products in July, with more localised options to follow.

    LeBrun and his team, who have more than 50 years experience with the brand between them, took over the Subway Hong Kong development office last October after several stores were closed across the city. They adopted a back-to-basics approach focusing first on engaging franchisees, establishing a team culture in stores, fine-tuning operations, and improving the customer experience. The results are already obvious: sales have been growing steadily this calendar year with stores averaging a 10 per cent year-on-year uptick. Some have achieved as much as 22 per cent growth.

    “Customers want good food and clean stores. And we’re giving them that,” said LeBrun.

    “If you walk into a Louis Vuitton or a Gucci you expect the same service, anywhere in the world. It has to be similar. Subway is the same.”

    Coffee and innovation

    LeBrun says the chain will continue to expand the menu with both short-term promotions and long-term offers.

    “Hongkongers love product innovation. Look at McDonald’s – every month they have new promotions. That’s where we need to be.”

    Coffee will soon be added to Subway Hong Kong menus so customers who want a hot or iced drink can buy it at the same place as their sandwich, salad or cookies.

    “Coffee is growing in Hong Kong. So we are looking for a way to feature high quality beans and fresh milk. We will offer high-grade coffee at affordable prices.”

    The final part in the Subway Hong Kong renaissance is marketing, and LeBrun says the company has that in hand as well.

    “There hasn’t been enough advertising until now and it hasn’t been in the right channels. We will be doing more targeted marketing via social media and digital channels which appeal to our core demographics.

    “We also want to better communicate the sustainability practices Subway adheres to regarding animal welfare and our environmental impact. There are many positive stories of Subway doing the right thing that we want to share.”

    “It’s good news,” LeBrun says of the transformation. “Because we’ve been talking about how it is going to happen. Now it is happening.”

  • Jeweller Luk Fook time to shine after years of decline

    Jeweller Luk Fook time to shine after years of decline

    Jeweller Luk Fook has reversed a three-year trend of declining revenue in its latest financial year, boosting sales by 13.8 per cent to HK$14.578 billion (US$1.857 billion).

    Releasing its results for the year to March 31, the company said the turnaround was the result of improved retail sentiment, especially in its largest market of Hong Kong-Macau. Profit attributable to shareholders grew 34.7 per cent to $1.4 billion.

    Luk Fook finished the year with 1642 stores globally, 137 more than the previous year with almost all of the new stores on the mainland.

    Wong Wai Sheung, group chairman and CEO,, said that despite the impact of the slowdown in economic growth in Mainland China and the changes to the Individual Visit Scheme, there was gradual improvement in spending per capita.

    The retail business, the group’s primary source of revenue, improved 14.3 per cent to $10.995 billion. Within that, sales of gem-set jewellery increased 24.2 per cent. Sales of gold and platinum products increased by 10.2 per cent.

    Luk Fook reported same-store growth in Hong Kong and Macau of 9.4 per cent last year, a huge contrast to the 19.5 per cent decline of the previous year. Mainland China same-store sales grew by a more modest 4.6 per cent, compared to a 4.8 per cent drop the prior year.

    Besides adding 132 new stores in Mainland China, Luk Fook opened its first licensed store in Cambodia and one store in each of Hong Kong and San Francisco.

    Rebound continues

    Wong Wai Sheung said the improved overall economic environment and increased visitor arrivals in Hong Kong and Macau is reflected in ongoing positive retail sentiment since April this year.

    Same-store sales growth continued to run in the double digits this year and sales of gem-set jewellery in the mainland market had returned to positive growth.

    “However, under the influence of US-China trade war and geopolitics, there are still many uncertainties around.”

    That aside, he said the continuing growth of the mainland’s middle-class population  fuelled optimism about Luk Fook’s mid- to long-term business prospects.

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  • Colourmix axes stores to stop losses

    Colourmix axes stores to stop losses

    Colourmix parent and fashion retailer Veeko has seen its sales fall 4.4 per cent in the last year, to HK$1.928 billion.

    But it posted a $5.26 million profit, a turnaround for the previous year’s $25.9 million loss – all due to an increase in the value of investment property.

    Veeko said its cosmetics division’s sales, which accounted for 82 per cent of group revenue, slipped 1.9 per cent, with gross profit margin easing 1.1 per cent to 31.7 per cent.

    Sales in its fashion division slumped 14.2 per cent to $354.45 million, but gross profit margin improved to 70.1 per cent.

    The cosmetics business lost $6 million for the year and the fashion business lost $8.2 million, but an increase in fair value of investment properties of $31.6 million pulled the overall business to a paper profit.

    At the end of March, Veeko operated 84 Colourmix stores, six fewer than a year earlier, and eight Morimor stores, (up one). The Colourmix stores are primarily in Hong Kong, with five in Macau and one in Mainland China. It opened the first Morimor store outside Hong Kong in November, at The Venetian Macao Resort.

    “It is expected that the market presence and popularity of Morimor stores will be further enhanced through its brand new image in quality and trendy cosmetics,” the company said in its results announcement.

    Fashion business

    As at the end of March, Veeko had 101 fashion stores trading under the Veeko and Wanko banners in Hong Kong, Macau and Mainland China, a reduction of 18. This was partly due to the company exiting Singapore, closing its five stores there.

    The group has 25 stores in Mainland China where it closed four underperforming outlets during the year. It also has a presence on Tmall.

    Looking ahead, Veeko says it expects the Hong Kong retail market to continue to improve gradually.

    “Under the challenging environment, the group is cautiously optimistic about its future development, and will continue to seek opportunities for growth and monitor closely the changes in market trends.”

    The company says it will continue to adjust its store portfolio and review rental levels.

    “Given the downward adjustments of rental rates for certain stores in the market, the rental pressure for stores with expiring lease terms will be reduced, and the group will achieve better results in controlling rental costs. Meanwhile, the group will close down underperforming cosmetics stores and identify prime locations with lower rents for new stores in order to improve overall operation efficiency.”

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  • Starbucks opens new Hong Kong flagship

    Starbucks opens new Hong Kong flagship

    The first Starbucks Hong Kong flagship has formally opened in Causeway Bay.

    The new store is located on level one of Lee Garden Three. As previously reported, the store features the city’s first standalone Teavana Bar and a ‘Mixology Bar’ where coffee-inspired alcoholic beverages are served, along with premium coffee and an expanded food menu.

    The 5500sqft store is positioned as “an urban retreat within the bustling city” and what Starbucks describes internationally as “a Third Place” for customers to socialise with family and friends. (First and second places are home and work).

    The Starbucks Hong Kong flagship opened on Friday and boasts more than 50 new food and beverage items, as well as branded homewares and merchandise, including items exclusive to the store.

    The Starbucks Reserve coffee bar is built with marble in deep green shades inspired by coffee plantations. Staff will guide customers through the flavours of different coffee origins, and through various coffee brewing methods including nitro cold brew, siphon, pour over, coffee press, Chemex and Black Eagle Espresso.

    The Starbucks Hong Kong flagship features a coffee tree-inspired centre pillar that extends through the store ceiling, made with 370 pieces of geometric wooden panels shaped like coffee leaves.

    Local designers Fa and Jun from Kanvas Studio created a feature art piece for the flagship made with 250 pieces of handcrafted ceramics inspired by the natural form of coffee and tea leaves.

    The Teavana Bar will feature five Hong Kong-exclusive teas among 15 new menu items at the Starbucks Hong Kong Flagship to offer consumers an alternative to coffee.

    The Teavana Bar will launch the first cold foam-tea series, bringing the foaminess customers of hot beverages to iced beverages with matcha latte with cold foam and black tea with Earl Grey jelly and cold foam.

    Food options at the new Starbucks Hong Kong flagship include gourmet toasts (bacon, Nurnberger sausage & scrambled eggs, avocado & scrambled eggs and soft-boiled egg & smoked salmon, for example). The menu also features a salad bar, flatbreads and pancakes.

    The full pictures of the new flagship store can be viewed below :

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  • Castore to open in Hong Kong soon

    Castore to open in Hong Kong soon

    Private investors have contributed £3.2 million to Chester, UK-based sportswear brand Castore to support its expansion into Asia and the US.

    The firm’s co-founders – brothers and former pro athletes Tom and Phil Beahon – plan to use the funds to set up a dedicated Asia website, and are in the early stages of planning their first store in Hong Kong.

    Among the investors are Robert Senior (formerly head of Saatchi & Saatchi), Arnaud Massenet (previously husband of Natalie Massenet, founder of Net-A-Porter), and Tom Singh (founder of New Look).

    Castore’s mission is to build “the lightest, most durable, highest-performing sportswear in the market,” achieved through testing products in competitive environments.

    “All our garments have been tested on elite athletes to ensure they excel at the highest level, worn for 100 consecutive days before being approved for full production,” the company explains on its website.

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  • Balabala debuts in Hong Kong

    Balabala debuts in Hong Kong

    Chinese children’s apparel brand Balabala has opened its first store in Hong Kong.

    A niche brand operating under Chinese fashion firm Zhejiang Semir Garment Co, Balabala’s Kowloon location will retail casual kidswear for all ages.

    Leeky Li, deputy GM of Semir International Group (HK), described the move as an opportunity to bring the company to the world stage.

    “Hong Kong is an international and well-developed city offering an ideal platform for us to enter the global market,” she said. “The retail market here is also very established, which means a lot of convenience for us when we set up and grow from here.”

    She also noted that the Hong Kong branch will serve as a major bridge and contact point to execute the firm’s global expansion plan in terms of acquisition, joint venture and overseas franchising.

    “The city is also a key sourcing centre for our group. Therefore, Hong Kong offers us numerous strategic advantages,” she said.

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