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Tag: luxury

  • Why top watch marques no longer need Baselworld, SIHH?

    Why top watch marques no longer need Baselworld, SIHH?

    Dr Bernard Cheong has what he calls a “migration box” – a travel case that holds up to eight timepieces. “I like to say that these are the watches I will take with me if I have to relocate,” says the jovial 61-year-old, one of the world’s most prolific watch collectors. One of his most prized pieces is a S$3.3 million (US$2.4 million) Greubel Forsey Invention Piece 1, numbered 00 in an 11-piece series. Its serial number indicates that it is the watchmaker’s personal prototype. It would not even have been sold, if not for Cheong’s clout. He believes the watch can eventually command up to S$5 million.

    In 2011, he made history when he became the first ambassador for the Geneva-based Fondation de la Haute Horlogerie who was not from the watch industry. He helped formulate the transparent jury system, and an audited and numbered voting system, for the Grand Prix d’Horlogerie de Genève in 2002, a high-end watchmaking contest, before introducing it to Asia.

    His expertise is drawn from decades of experience of watch buying and selling and forging close relationships with watchmakers and retailers. This has also put him in the unique position of being an industry observer with unfiltered, and sometimes contrary, insights.

    For instance, he does not mince words when talking about the recent issues surrounding the industry’s key watch fairs, Baselworld and SIHH. The two fairs recently announced they would be synchronizing their calendars to run back to back, following a fall in the number of Baselworld exhibitors.

    “It is a reality of the industry. The exhibitors do not need to be there any more – why pay so much to exhibit like this?” he says. Cheong notes that watchmakers today can easily bypass industry fairs by offering information about their latest creations directly to consumers via the internet.

    Protecting his beloved industry is something Cheong takes seriously. In China, the recent crackdown on conspicuous consumption has led to a drop in sales and to brands like Richemont buying back unsold stock. “It is smart for the companies to buy back their precious pieces. When times are hard, people will sell watches at any price to put food on the table,” he says. This could lead to a massive undercutting in prices, he adds.

    “They did the right thing to retain control of prices.”

  • Samsung Philippines redesigns its Manila store

    Samsung Philippines redesigns its Manila store

    Samsung Philippines has launched a redesigned flagship store in Manila. Located in CyberZone at SM Megamall, the store is designed to showcase the brand’s latest technologies and aesthetics, with U-shaped center bars built to facilitate one-on-one communication with customers as they interact with the products. A central ‘Newness Table’ serves to show off the most recent Samsung innovations.

    Accessories are given the same exposure as the more expensive offerings with equal opportunities for consumers to examine and try before they buy. Dedicated spaces are reserved for Gear S watches and Samsung Gear VR offerings, as well as audio products such as speakers and headphones.

    The flagship also houses a revamped customer service area, featuring experience lounges and consumer learning programs.

    “Samsung as a brand has always been known to consistently redefine the new normal and to go beyond expectations. Over the years, our mobile phones have set the benchmark for what the consumers need and want”, said Samsung Philippines president James Jung. “The new store design heralds a new chapter in Samsung retail, enabling customers to engage with our brand and products in new ways.”

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  • Gucci adds 6 new intriguing Gucci Places

    Gucci adds 6 new intriguing Gucci Places

    Luxury fashion brand Gucci has labelled six international destinations as ‘Gucci Places’ – a list that includes Daelim Museum in Seoul. The Gucci Places were selected by the Italian Fashion House as destinations that “surprise, arouse interest, and inspire a creative response”, according to a report in Prestige Online. They were chosen in collaboration with well-known artists who were tasked with visiting the place and record their impressions, establishing a visual journey of photographs, travel notes and sketches.

    Daelim Museum was named for its association with Coco Capitan, an artist whose calligraphy has appeared on Gucci collections.

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  • Ssangyong teases new Korando

    Ssangyong teases new Korando

    SsangYong Motor said Monday it will release a brand new sport utility vehicle in March that will replace its current Korando C SUV. The fresh model, which has been developed under the project name C300, will simply be called the “Korando,” according to the carmaker. Korando is one of SsangYong’s oldest lineups, alongside Tivoli and Rexton. The company decided to retain the name, hoping that would boost sales.

    It is the first entirely new car in the Korando lineup in eight years, since the company rolled out the midsize SUV Korando C – since then, it has just been revamped versions of existing models. Cars sold under the Korando label include the Korando Sports, Korando Turismo and Korando C, which will be discontinued when the new Korando launches.

    SsangYong also unveiled three teaser images of the car on Monday. The carmaker said it used a low and wide design for the car’s body, following a global trend. The front of the vehicle resembles SsangYong’s popular compact SUV Tivoli.

    The automaker has added various driver assistant features to the car. With the SUV market expanding, SsangYong hopes to grow its market share in the local car market with the anticipated release.

    A spokesperson from SsangYong said the new car will be the “most fascinating and high-tech Korando-branded car in history.”

  • Kia Motors begins sales of 2020 edition of Sorento SUV

    Kia Motors begins sales of 2020 edition of Sorento SUV

    Kia Motors announced Monday it has begun rolling out the 2020 model of its Sorento sport-utility vehicle (SUV) for sale. The updated Sorento comes with new safety features applied to all of its diesel trims and a refreshed design. The diesel version of the compact crossover SUV will have smart safety features, such as lane keep assist, lane departure warning, driver attention warning and others on all of its trims.

    As for design, the automaker said it applied a newly designed dark chrome grille on all of its models, with the highest trim model installed with 19-inch chrome alloy wheels.

    The new model also comes with a new premium trim called “master special,” which features more options, such as rear occupant alert and a head-up display.

    The SUV comes in diesel and gasoline models, with the base diesel model starting at 27.88 million won ($25,000).

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  • French furniture brand Roche Bobois opens showroom in Singapore

    French furniture brand Roche Bobois opens showroom in Singapore

    French high-end furniture brand Roche Bobois has announced the opening of its Singapore showroom with a brand new design concept. The 5300sqft Roche Bobois Singapore showroom is located in the Boon Siew Building on Bukit Timah Road features an expansive floor-to-ceiling window to frame the brand’s collections, designed to resemble a jewel box from a distance.

    “Singapore is a city known for its appreciation of modernity and open-mindedness and these ideals are central to the Roche Bobois brand”, said company CEO Gilles Bonan.

    “This opening demonstrates the brand’s ambitions in Asia; we are already present in China, Hong Kong, South Korea, the Philippines, Japan, Vietnam and India and we intend to increase our presence in this strategic part of the world.”

    Roche Bobois operates more than 265 showrooms in more than 55 countries. After 17 new stores opened in 2017, it continued its growth last year in cities such as Hanoi, Washington, Tokyo and San Diego, with the Roche Bobois Singapore showroom its latest globally.

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  • Excess car demand for Tet holiday drives prices up in Vietnam

    Excess car demand for Tet holiday drives prices up in Vietnam

    The surge in demand for cars before the Lunar New Year means customers have to wait or pay extra to get immediate delivery. With only weeks to go for the Lunar New Year Festival (Tet), which falls on February 5 this year, consumers are rushing to order automobiles leading to a shortage in the market. They either have to wait for a long time for delivery or, for quick delivery, opt for accessories which can cost an extra VND70-150 million ($3,013-6,458).

    For instance, Hyundai SUV Santa Fe requires an extra VND70-160 million ($3,013-6,887), which is 7-16.1 percent above the minimum listed price, while for the Toyota Fortuner it is VND100-150 million ($4,305-6,457). But most customers will have to wait until March for delivery if they signed the purchase agreement last November or later.

    The only way to get guaranteed delivery before Tet is to buy from someone who signed earlier, car dealers said, explaining that a dealership only gets around 20 units in each model per month but demand is two to three times that number.

    The shortage is because of difficulties in importing at the beginning of 2018 as a result of a new regulation tightening imports, Tran Thanh Binh, director of Thanh Binh Automobile Import Export Trading Service Co Ltd, said.

    The regulation stipulates that traders are only permitted to import if they can provide valid vehicle registration certificates issued by authorities from the countries of origin.

    Original quality control certificates for each vehicle and letters of authorization regarding recalls of defective vehicles from the manufacturers are also required, along with copies of quality assurance certificates provided by the countries of origin.

    “This made companies stop ordering from factories in Indonesia and Thailand. The second half of 2018, however, with these difficulties resolved, businesses have started to order again. But, since the factories also produce for many other markets, Vietnam was not able to order enough,” he explained.

    Vietnam imported 6,362 cars, including 4,264 personal cars, 1,820 trucks in the first 15 days of 2019, according to Vietnam Customs.

  • Thai’s King Power Duty Free, World’s Leading Airport Duty Free Operator 2018

    Thai’s King Power Duty Free, World’s Leading Airport Duty Free Operator 2018

    Thailand’s King Power Duty Free has won the world’s ultimate accolade for travel, tourism and hospitality industry excellence, voted ‘World’s Leading Airport Duty Free Operator 2018 in the 25th World Travel Awards. King Power Duty Free triumphed ahead of than a hundred duty free operators worldwide including shortlisted finalists China Duty Free Group, Hong Kong’s DFS, Dubai Duty Free, Swiss-based Dufry, Duty Free Americas, Germany’s Heinemann Duty Free, France’s Lagardere Travel Retail, and South Korea’s Lotte Duty Free and The Shilla Duty Free.

    “The award strengthens Thailand’s tourism image as a world class destination while underlining the outstanding capability of a Thai company,” said King Power Group CEO, Mr Aiyawatt Srivaddhanaprabha. “King Power is proud to be Thai and committed to the national travel retail business, setting a new benchmark for world-class duty free shopping experience.”

    Operated by King Power International, King Power Duty Free was earlier voted Asia’s Leading Airport Duty Free Operator 2018 in the regional finals of the World Travel Awards.

    World Travel Award was established in 1993 to annually acknowledge, reward, and celebrate excellence across key sectors of the travel, tourism and hospitality industries. Today the brand is recognized globally as the ultimate hallmark of industry excellence, voted by travel, tourism and consumer trade executives.

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  • Net-a-Porter launches kidswear with Gucci

    Net-a-Porter launches kidswear with Gucci

    After its Gucci and Dolce & Gabbana childrenswear pop-up e-shops generated a resounding “more!” from Net-a-porter.com customers, the retailer is launching a multi-brand kidswear collective. By “collective”, Net-a-porter.com means, quite simply, a tight edit of brands which have all created exclusive capsule collections for the website. Yeah Right NYC Kids, Alanui Kids, ATM Kids, Chinti & Parker Kids, Lingua Franca Kids, Golden Goose Deluxe and Veja make up the list of seven labels for girls and boys ages one to 12.

    “The new year felt like the perfect time to launch this collective,” Elizabeth von der Goltz, Net-a-porter.com’s global buying director, tells Mini Vogue. “It’s January – kids are back to school but there’s this idea of cosiness and wanting to feel comfortable.”

    The capsules, accordingly, reflect this: cashmere sweaters, comfy cardigans, track pants and trainers populate the new section. “Whether it’s for ourselves or for our kids, we are always thinking about wellness in January so this this an extension of that – it’s luxe athleisure for kids!”

    If the list of brands feels more offbeat than the global labels Net-a-porter.com first dabbled in the kidswear market with, this was intentional.

    “As an online global retailer known for our distinct fashion point of view, we wanted to take this and bring it to the kidswear market, creating something different from traditional retailers.”

    Von der Glotz is particularly excited about the patterned cardies from Alanui Kids collection and the mini-me versions of Golden Goose and Veja sneakers – two of Net-a-porter.com’s best-selling shoe styles.

    The e-tailer is confident it has quietly developed a recipe for success: “Our customers have been highly engaged with all of our kidswear pop-ups with most styles selling out within just a matter of weeks of launching,” she continues.

    Four out of five of the Gucci products sold were logo T-shirts, and the fifth was the belt bag. “It’s so interesting to see, as the pieces are in such high demand in our adult range too.” Starting them early is certainly paying off for the business.

  • Sergio Rossi redefines the power pump

    Sergio Rossi redefines the power pump

    “It is a new definition of the power pump,” is how celebrity stylist Elizabeth Stewart describes styles from her capsule collection with Sergio Rossi. Stewart, who counts Julia Roberts and Viola Davis among her clients, celebrated the launch of the collaboration Thursday in Los Angeles at the Italian luxury brand’s pop-up store at Westfield Century City.

    Pumps and sandals in black, red and light pink are emblazoned with empowering words like “strength,” “hope,” “kindness” and “sharing.” The messages are meant to give women a chance to embrace style, substance and solidarity, with 100 percent of sales supporting Time’s Up, an organization dedicated to women’s safety and equality in the workplace.

    “I wanted the shoes to be a sort of a talisman for the wearer,” Stewart told Footwear News at the event. “First it was ‘strength’ and ‘power’. The idea being you can go on a job interview and you put them on and it gives you strength, but also I don’t want to forget things that women want to be, like kind and sharing. It’s a reminder and source of strength.”

    Sergio Rossi Group CEO Riccardo Sciutto said working with Stewart on the collection was an organic process as she has had a longtime relationship styling her famous clients in the brand’s shoes.

    “When you get trust, the relationship is stronger and it’s easy to do something together all the time,” Sciutto said, adding that it’s the label’s first time supporting a social movement issue.

    Though the words and messages on the shoes were easy to conceive, rendering them on the shoes proved to be a challenge. Initially, Serigo Rossi designers tried to emboss the verbiage, but the production technique used to pull the leather material made the words unreadable, Sciutto explained. To achieve the desired effect, the designers created a special technique to print the words in a slightly different but matching color on the material.

    Along with Stewart’s capsule, which is sold exclusively at the store through March 6, the space also features 37 different styles from Sergio Rossi’s resort ’19 and spring ’19 collections, as well as a customization bar.

    The temporary digs are a part of Sciutto’s retail expansion strategy in the American market. “Half of the business is in Asia, and the rest is split between Europe and America. America is the opportunity. It’s the smallest market for us,” he added.

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  • Burberry sales saved by Mainland China

    Burberry sales saved by Mainland China

    A mid-single-digit rise in Burberry sales in Mainland China in the third quarter helped produce a solid result for the luxury fashion retailer. The strong China performance helped mitigate reduced footfall in the Americas and a subdued European market where tourist spending showed only a small improvement. Global same-store sales rose just 1 per cent.

    However, CEO Marco Gobbetti said the company was buoyed by improvements and ongoing customer excitement ahead of new product delivery – the launch of new creative director Tisci Riccardo’s first runway collection which will hit stores next month.

    “I am pleased with our progress in the quarter as we continued to build brand heat around our new creative vision and shift consumer perception of Burberry. Excitement is growing ahead of next month’s launch of Riccardo’s debut collection,” said Gobbetti.

    “We will continue to manage the business dynamically as we reposition the brand. We confirm our outlook for the full year.”

    He said the company was seeing a continued shift in consumer perceptions of the brand, driving increases in digital engagement and drawing endorsements from key influencers. Increased Burberry sales can only follow.

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  • At Kia, sales go up, but profit doesn’t follow

    At Kia, sales go up, but profit doesn’t follow

    Kia Motors’ sales expanded last year, but profits faltered. Korea’s second-largest carmaker by sales said Friday it posted 94.3 billion won ($84 million) in net profit for the fourth quarter last year, a 10 percent drop year on year.
    Though the carmaker’s revenue in the fourth quarter increased by 3.6 percent to 13.47 trillion won due to increased sales, the company said the Korean won’s strength against the U.S. dollar dragged down profits.

    A similar trend is evident in the company’s annual earnings report. The company posted 54.17 trillion won in revenue for the whole of last year, a 1.2 percent increase from the previous year. Global sales also increased by 2.4 percent during the year, selling more than 2.8 million units.

    Despite expanded sales, the company’s net profit was limited to 1.16 trillion won, a 19.4 percent jump from 2017, but still below market expectations or the company’s average profit recorded between 2014 and 2016.

    Profit in 2017 fell to below a trillion won due to a one-off cost of around a trillion won that was reflected that year after a local court ordered the company to make an overdue payment to employees.

    The goal this year for Hyundai Motor’s sister company is to ramp up profitability, especially in the U.S. and Chinese markets, with new car launches and stronger SUV lineups. The automaker also plans to tackle emerging markets like Russia and India with localized models.

    Kia is betting big on its Telluride SUV to turn its business around in the U.S. market. The largest SUV yet in Kia’s lineup will launch in the United States during the first half of this year.

    “As we launch new cars in the U.S. market including the Telluride SUV and new Soul crossover and diversify our product mix, we expect our profitability to improve,” said Joo Woo-jeong, chief financial officer at Kia, during a conference call with analysts on Friday. “The Telluride SUV was well received at the Detroit Motor Show and its image as an off-roader fits well with demands in the U.S. market.”

    The SUV was recently introduced during the North American International Auto Show in Detroit.

    For China, Joo said Kia will strengthen its local dealer network and better manage car inventories there to improve business. The company is also planning on launching dedicated SUV models for the Chinese market. While Kia sold 370,000 cars in China last year, it hopes to sell 410,000 cars this year based on the new strategies.

    Joo admitted that “China is the most difficult market for Kia” at the moment. Kia plans to sell a total of 2.92 million cars this year, a 3.9 percent increase from last year.

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  • Manolo Blahnik opens its first flagship store in Taiwan

    Manolo Blahnik opens its first flagship store in Taiwan

    In May 2018, Manolo Blahnik opened its doors to the public at the triple tower complex Marina Sands Bay in Singapore, strengthening its presence in Asia with Bluebell Group. In January 2019, Manolo Blahnik continues its expansion into Asia with the opening of its first flagship store in Taiwan. The brand is known for its original and creative flair as well as timeless classic styles, which loyal customers from film stars to leading editors, to women who just trust his perfectionism, come back to again and again.

    The newly opened Manolo Blahnik store, a 65 square metre space with a privileged location within the Nanshan Plaza shopping centre, showcases the world-renowned shoes on the first floor of the new upscale retail destination.

    Nick Leith-Smith, the brand’s long-serving architect, said: “Taipei flagship celebrates a material play on Taiwan’s deep cultural and historical connection to bamboo – with a rotating bamboo forest as a central motif. At first, orderly, and geometric, yet with the dynamic movement introducing a curious playfulness to entice and enchant.”

    The new store is another step forward for the company in its expansion across  important markets; and another milestone achieved in the history of the family-owned business that has prevailed in the luxury shoe industry for nearly fifty years.

    The creative soul of the brand is still Mr. Blahnik who, with a career spanning over 40 years, has become one of the world’s most influential footwear designers. His shoes have spellbound an international set of adoring and loyal devotees across the globe.

    He was born in the Canary Islands to a Spanish mother and a Czech father, he studied languages and art in Geneva before moving to Paris in 1965 where he decided to become a set designer.

    On a visit to New York in 1970, he showed his theatre designs to Diana Vreeland, then editor-in-chief of American Vogue, who honed in on his shoes and encouraged him to concentrate on them. Blahnik learnt the art of making shoes by visiting factories, where he talked to machine operators, pattern cutters and technicians. By 1970, he was in London making shoes.

    A year later, Ossie Clark, then the most famous designer in London, used his shoes and from there his career blossomed.

    Manolo Blahnik was established in 1970 with the opening of the first boutique
    in Chelsea, London. It is still a privately owned and family run business with Mr. Blahnik as Creative Director and his sister Evangelina Blahnik led by the enthusiasm of  Kristina Blahnik.

    Kristina, CEO of the company since 2009,  is in charge of brand expansion and optimization of the business worldwide, and in Asia, their transformation is the the result of a long-term partnership with Bluebell Group, which stated in Japan, Malaysia, and Singapore, and Taiwan.

    Kristina, the walking embodiment of the woman her uncle, Manolo designs for, before the latest opening said: “I am thrilled at our new venture with the Bluebell group, they have already demonstrated to be an excellent partner in launching beautiful spaces in prestigious locations”.

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  • Greater China helps ease Tod’s Group European challenge

    Greater China helps ease Tod’s Group European challenge

    Luxury fashion retailer Tod’s says Greater China sales rose 3.2 per cent last year, to reach €218.7 million. Releasing annual sales results, the Italian-based company said Greater China sales growth accelerated during the fourth quarter, especially on the mainland which now accounts for 60 per cent of its Asian turnover. Hong Kong and Macau also performed well, although the company did not disclose detailed figures for the two territories.

    Tod’s consolidated global sales reach €958.2 million at constant exchange rates, which was essentially the same as for 2017. Tod’s and Roger Vivier were affected by currency fluctuations.

    Retail sales reached €622.3 million, with wholesale revenue comprising the rest. However same-store sales fell by 3 per cent, due to declines across Europe which erased the China growth. In Italy, consumers were spooked by political and economic uncertainties and greater Europe by lower sales to tourists.

    “Last year’s sales results were substantially in line with our expectations, despite the growing international economic and political uncertainties,” said chairman and CEO Diego Della Valle.

    By label, Hogan sales rose 1.8 per cent, Tod’s and Roger Vivier held steady and Fay slipped 3.4 per cent.

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  • Crocs India opens 109th store

    Crocs India opens 109th store

    Crocs, the iconic casual footwear brand, announced the launch of its 109th store in India at Ballygunge, Kolkata. Crocs inaugurated the 580 sq.ft. store situated in one of the poshest high-street vicinity of Kolkata. With this new store, Crocs promises to strengthen the reach of the iconic brand in the ‘City of Joy’; where now has seven stores. The other stores of Crocs in Kolkata are located at City Centre New Town, Camac Street, Forum Courtyard, City Centre Salt Lake, Axis Mall, Rajarghat-New Town, and Acropolis in Kolkata.

    The new store showcases the recently launched Spring Summer’19 collection along with an array of styles which include sandals, loafers, sneakers, flip-flops, and clogs suitable for all age groups.

    Speaking on the launch, Deepak Chhabra, CEO & MD, Crocs India, said, “Kolkata is crucial market for us with huge potential and high fashion sensibilities. We are pleased to announce the launch of our 7th store in the city and will continue to strengthen our presence in the state of West Bengal. In addition to aggressively growing our EBOs, we will be strengthening our presence in tier-2 cities via MBOs and Kiosks. Further, e-commerce will remain an integral part of our distribution strategy and help us reach out to consumers where our brick and mortar presence is limited.”

    With unparalleled brand awareness and break-through product innovations, Crocs is progressing towards becoming India’s top non-athletic casual footwear brand. India is currently the 6th biggest market for Crocs globally with a double-digit growth year on year.

    Over the past 16 years, Crocs has sold more than 350 million pairs of shoes worldwide. Crocs as a brand will continue to focus on clogs and sandals, along with new product innovations and extensions of the current product line.

    Last year, Crocs launched its newest innovation ‘LiteRide™’ which is available in Flips, Slides, clogs, shoes and sandals. The LiteRide™ Collection merges sporty, on-trend styles and silhouettes with the legendary Crocs comfort that consumers expect. LiteRide™ has redefined comfort, taken the brand’s style quotient a notch higher and it has been a stellar success across genders and age groups.

    The associations with Christopher Kane and Balenciaga in the last couple of years has also further elevated the fashion appeal of the brand.

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