Tag: luxury

  • BreadTalk to open 1st Din Tai Fung restaurant in London by end-2018

    BreadTalk to open 1st Din Tai Fung restaurant in London by end-2018

    Taiwanese dumpling chain Din Tai Fung has opened in Covent Garden, London. The new 8000sqft Din Tai Fung London eatery is the franchise’s 153rd globally, and is the first of at least two outlets planned for the city. A second store is planned for Centre Point next year.

    The Din Tai Fung London store has been launched by Taster Food UK in partnership with Singapore-based BreadTalk Group.

    BreadTalk Group CEO Henry Chu said: “The group will leverage on our experience of operating Din Tai Fung in Singapore and Thailand, and the strength of our overseas partners to continue the tradition of delivering an authentic Taiwanese dining experience to Londoners.”

    Brand founder and chairman George Quek commented that there is potential to open 20 Din Tai Fung outlets in Britain, serving as a starting point for further expansion into Europe.

    Din Tai Fung has already opened in Australia, China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, South Korea, the US and the UAE. It was recognised by the New York Times in 1993 as one of the world’s top 10 restaurants.

  • Steve Madden has launched in Malaysia

    Steve Madden has launched in Malaysia

    American footwear brand Steve Madden has opened its first store in Malaysia. The new location at Mid Valley Megamall in Kuala Lumpur is the second Steve Madden store launched by the brand’s retail partner Valiram after the first opening in Takashi­maya Singapore.

    A statement from the brand that describes the new store’s aesthetic as “distilled urban” reads: “Making use of several materials, the intention is to stage the stars – shoes and accessories – in a way that allows each of them to tell their style story.”

    Featured in store is the brand’s Holiday 2018 collection for women, as well as its signature rock-n-roll-inspired shoes and leather goods.

  • Kering leads the way to gender diversity

    Kering leads the way to gender diversity

    French luxury goods giant Kering has received a prize for its high level of female representation on its board. The company has made gender equality one of its corporate priority and has, this week, been chosen to receive the “Most Feminine Board of Directors” award.

    Handed out by the European Women on Boards along with Ethics & Boards, Kering was selected among the 200 largest companies of the Stoxx Europe 600 index based on the percentage of women on the boards as well as the presence of women serving as chief executive officer or chair of the executive board.

    The company, which owns a range of high-end labels including Saint Laurent, Bottega Veneta and Pomellato, launched a leadership and diversity program in 2010 with the aim of increasing access for women to leadership positions.

    Kering has also committed to reaching gender parity and pay equality at all levels by 2025.

    French companies are leading the way on gender diversity and Kering is a great model setting an example for the rest of the world to follow.

    Indeed, more than half of the group’s managers are women while they constitute 64% percent of the board and 33% of its executive committee.

    François-Henri Pinault, Kering’s CEO, also announced that the company would be doubling the budget of the Kering Foundation, aimed at tackling violence against women.

    Kering is also partnering with Michelle Obama for the French leg of her blockbuster tour for her memoir titled “Becoming.”

  • Japan Foods in regional tie-up with Minor Singapore

    Japan Foods in regional tie-up with Minor Singapore

    Japan Foods has entered a joint venture with Minor Singapore to support each other’s operations in Japan, Thailand and China. Japan Foods is to operate the partners’ Thai restaurants in Japan and support Japanese cuisine operations. Minor Singapore will meanwhile run Japanese outlets in Thailand and China, supporting the preparation of Thai cuisine.
    The JV is being funded by a combined shareholder loan of $2.3 million to be disbursed equally for working capital. Japan Foods will fund its half of the loan with internal cash resources.

    Japan Foods executive chairman and CEO Takahashi Kenichi said he believes the expanded network will “make us more attractive as a franchise partner to Japanese brand owners who may be looking to expand beyond their local market”.

    Minor Singapore executive chairman and CEO Dellen Soh said the partnering firms “share many synergies, including strong brand portfolios and good operating track records”.

  • Which tourists spend the most overseas?

    Which tourists spend the most overseas?

    Overseas spending by South Korean tourists ranks among the top of advanced economies, research data showed on December 5. Figures provided by the Korea Economic Research Institute, affiliated with the Federation of Korean Industries, put the proportion for South Korea at minus 1.9 percent in 2016, ranking it the fifth highest among 32 member states of the Organization for Economic Cooperation and Development (OECD).

    The institute derived the proportion by subtracting overseas expenditures by South Koreans from foreigners’ spending in South Korea and measured the sum’s ratio against household spending.

    Higher numbers in the negative means that local citizens spent more abroad that what inbound foreigners spent.

    Results showed Norway topped the list with minus 4.3 percent, followed by Lithuania (minus 2.7 percent), Belgium (minus 2.5 percent) and Germany (2.3 percent).

    In the case of Japan, the number turned positive in 2014 and came to 0.6 percent in 2016.

    “The outflow of spending is the result of choices by local and foreign consumers of tourism services,” the institute said. “It indicates weaknesses in the competitiveness of the domestic tourism industry.”

    The institute cited a report last year from the World Economic Forum that said South Korea’s competitiveness in prices fell from 84th in 2007 to 88th in 2017.

    “(This) was one of the important elements that undermined South Korea’s competitiveness in the tourism business,” it said.

  • 4FINGERS takes full ownership of Mex Out

    4FINGERS takes full ownership of Mex Out

    4FINGERS Group, the group behind innovative fast-casual dining brand 4FINGERS,  announced its acquisition of Mex Out, one of Singapore’s leading Mexican food concepts. This acquisition is part of the group’s plan to accelerate Mad Mex’s roll out in Singapore, following its recent acquisition of a 50% stake in the leading Australian Mexican quick-service restaurant (QSR) brand.

    4FINGERS Group intends to re-brand the four Mex Out outlets into Mad Mex establishments from the first quarter of 2019, making Mad Mex one of the largest Mexican food and beverage concepts in Singapore by revenue.

    Until then, Mex Out will continue regular operations.

    This buyout continues the Group’s push into the growing fresh and healthy segment in the F&B industry and its commitment to bring Mad Mex to Southeast Asia.

    “We are excited to be able to so quickly establish Mad Mex’s presence in Singapore, and are entering an exciting new phase. With Mad Mex’s strong brand and proven track record, we are very confident of its growth in the region,” said Vijay Sethu, Director of 4FINGERS.

    This acquisition also enables the Group to further capitalise on menu innovation, shared services and other economies of scale.

    4FINGERS continues to grow their flagship brand, and with the current focus on growth outside of Singapore, the brand looks to close the year with 14 4FINGERS outlets in Malaysia.

    The brand is also continuing to spread its wings beyond Asia, with their maiden U.S. outlet set to open in Los Angeles in 2019, as well as three new outlets in Australia.

  • ‘The store of the future’ by Tommy Hilfiger opens in Amsterdam

    ‘The store of the future’ by Tommy Hilfiger opens in Amsterdam

    A new generation Tommy Hilfiger store of the future has opened in Amsterdam. The store emerges from the firm’s evolving omnichannel strategy and features floor-to-ceiling interactive mirrors, personalised embroidery stations and a cafe with digital screens built into the tables. The more than 300sqm interior has been described in a CPP Luxury report as boasting “modern finishes and a bright, airy aesthetic, taking cue from the nautical lifestyle – one of Tommy Hilfiger’s long standing sources of inspiration.

    Tommy Hilfiger CEO Daniel Grieder said: “You can’t just expect shoppers to come into the store when you do nothing, you have to excite them. You have to give customers a reason to come into the store.”

    View the gallery below (7 images) :

    The Tommy Hilfiger store of the future features large monitor screens which serve as “digital endless aisles” that allow customers to browse the brand’s complete online catalogue, facilitating home-delivered or store-delivered orders. Customers can also identify items from different looks featured online.

    Store manager Mark commented: “It’s about bridging that gap between online and offline, and making the shopping experience as easy as possible … People still want to be able to feel the material and see the products in person. That’s always important, so where we can we always want to encourage customers to come into the store.

    “For example with suits, we’ll offer an appointment for the customer to come in and try it on. We’ll make sure the dressing room is prepared for them with fitting shoes and a shirt. So for us it’s really about taking that extra step and building on the customer relationship.”

  • Shanghai Tang sold to Chinese Lunar Capital fund

    Shanghai Tang sold to Chinese Lunar Capital fund

    Chinese luxury fashion label Shanghai Tang has been acquired by Chinese investment fund Lunar Capital. The new owner specialises in growing mid-sized Chinese firms, already holding a range of clothing brands. Their acquisition signals a new direction for the brand, which has just opened a flagship store on JD’s luxury platform TopLife, the brand’s first domestic online retail space. Shanghai Tang’s creative director Massimiliano Giornetti will be resigning following the handover.

    The rapid turnover just one year after its acquisition by Italian clothing firm A. Moda, Alessandro Bastagli, and Hong Kong private equity firm Cassia Investments follows disagreements between the buyers. The brand was purchased last year from Swiss luxury goods firm Richemont Group, one of the brand’s original investors and owners since 2008.

    Shanghai Tang is thought to be China’s first contemporary luxury brand, and pulled in estimated sales of US$45.57 million this year.

  • Shinsegae International Opens Select Shop for S. Korean Designer

    Shinsegae International Opens Select Shop for S. Korean Designer

    South Korean retailer Shinsegae International aims to promote South Korean designer brands through a new online store. The company says ‘Select Shop’ will specialise in South Korean designer brands, on its S.I.Village online shopping portal. Select Shop accommodates 30 designer brands for clothing, bags, and footwear.

    “Select Shop will serve as a new channel for South Korean designers as well as for young and sensational new brands, which will also boost the competitiveness of our online shopping mall,” said a Shinsegae International spokesperson.

    Shinsegae International said S.I.Village’s high-end reputation is what encouraged many of the designers to join Select Shop.

    To mark the grand opening, Select Shop will provide discounts of 5 to 20 per cent on all member products and will give away movie tickets to the first 300 customers to make a purchase on Select Shop.

    The website will also be the exclusive distributor for 99 T-shirts designed in collaboration with 99%IS by Bajowoo.

  • Fortnum & Mason Asia sales soars boosted by Hong Kong

    Fortnum & Mason Asia sales soars boosted by Hong Kong

    Fortnum & Mason Asia sales are soaring, prompting the UK luxury-food retailer to plan more stores. In Hong Kong, the chain achieved a 55 per cent increase in sales in the year to July, helping it book a sixth consecutive year of double-digit sales and profit growth. Two new stores are now trading in South Korea – in Shinsegae Gyong-Gi and Shinsegae Gangnam – and options in other Asian markets are being assessed. Another new store opened in London.

    Global sales for Fortnum & Mason grew 12 per cent, reaching £126 million (US$161 million), while profit soared 26 per cent to £9.6 million. The company is now delivering products to a record 125 markets worldwide from its online sales channels.

    Sales at its flagship store in London rose 10 per cent – during a time most department stores in the UK have been struggling to maintain sales growth and profits. Travel retail stores in Heathrow and St Pancras International train station rose 12 per cent.

    “This year has not been without its challenges, but we’re proud to report another exceptional trading period,” said Fortnum & Mason CEO Ewan Venters.

    “By being faithful to our heritage and pedigree, focusing on the creation of extraordinary products and exceptional service, and delivering our world-renowned products to customers anywhere in the world, I am pleased that we are able to meet the growing demand for quality and impeccably-sourced products.”

    He said he was “particularly pleased” with the increased sales of Fortnum & Mason Asia and has great confidence in the two new spaces in South Korea.

  • GEOX appointed new leader for Asia Pacific

    GEOX appointed new leader for Asia Pacific

    Geox is a leading brand in the International lifestyle footwear Market. The success of Geox is due to the constant focus on the application of innovative solutions and technologies on the product that guarantee both impermeability and breathability. Geox technology is protected by over 60 different patents registered in Italy and extended internationally.

    Over 65% of its turnover is achieved abroad in more than 110 countries worldwide. Geox distributes its product through around 10,000 multi-brand selling points and a network of 1.157 mono-brand shops worldwide.

    Effective from today, Fillipo Gori, former CEO APAC at Roberto Cavalli, will lead the Asian expansion of the brand.

    Filippo Gori is a fashion professional with a finance and consulting background. After having worked 3 years in management consulting he joined GE Energy where he worked 3 years in FP&A. Soon after he began his journey in fashion, working for Emilio Pucci (Retail Controller), Gucci (Greater China CFO) and Replay (CEO APAC).

    In 2016 Filippo joined Vip.com as BD Director for international brands and established a profitable business in less than one year.

    In 2017 Filippo joined Roberto Cavalli, in one year and a half he opened in 3 new markets and increased the store network from 2 to 20 across Asia. In 2019 most of Asia markets will be reopened either through DOS or franchisee partnerships.

  • Macy’s, Tmall contract completely over

    Macy’s, Tmall contract completely over

    Macy’s China stopped taking orders on Tmall this week and will close its operations by the end of the month. The US department store business said it chose not to renew the contract with Alibaba’s Tmall which ends on December 31. “We sincerely thank you for your support and love of Macy’s, and we will continue to provide services to you through the American website Macys.com,” the US retailer said in a statement.

    Just two years ago, in an interview, Macy’s China president Dustin Jones assured customers that the company would not leave China. “We will become [a] Chinese Macy’s,” he said.

    That comment followed the closure of the company’s brick-and-mortar stores in Mainland China. Macy’s subsequently closed its own China website last June.

    Since 2015, the Macy’s China business has been operated in partnership with Hong Kong-based Fung Retailing.

    Beijing-based retail analyst Liu Dingding said that Macy’s China failed because it could not keep up with the fast-changing and diversified demands of Chinese consumers.

    “The market in China is changing much faster than those in the US and Europe. These Western giants seem to react a bit slower than their Chinese counterparts,” said Liu.

    Securing a local partner was one way of ensuring success in the market – as WalMart and Carrefour’s partnerships with Tencent have shown, said Liu. That way they can localise their offer and learn from Chinese experience.

    “[Western retailers] have built up operating experience with years of success back home. But before applying this experience in their Chinese operations [they should] respect Chinese culture, hire more Chinese executives and try to adjust the way that they have operated for years back home.

    “That’s the first step to gaining a foothold in the Chinese market,” Liu said.

  • Sunway Pyramid celebrates christmas with Jolly Rainbow theme

    Sunway Pyramid celebrates christmas with Jolly Rainbow theme

    Jolly Rainbow Christmas Fun Factory is now installed at Sunway Pyramid, this event will be on from 23 November 2018 till 1 January 2019 at the LG2 Blue Concourse. Themed Jolly Rainbow which signifies fresh beginnings and hope, get ready to embark on a fun, colourful and interactive Christmas journey as you enter the concourse.

    Here, visitor can grab a Christmas passport from the Rainbow Booth to begin. Next, experience unicorn in the centre of the concourse. Visitor can colour the Christmas unicorn and characters, enter the dome and watch it come alive on the walls.

    Another fun is the Rainbow Slide installed in the dome. The slide will create a colourful rainbow on the interactive rainbow slide, and its suitable for all ages.

    View the full gallery below (5 images) :

  • Bottega Veneta opens Tokyo flagship store

    Bottega Veneta opens Tokyo flagship store

    High-end Italian label Bottega Veneta is launching a new flagship in Tokyo this Saturday. The six-storey store at Ginza Chuo-Ku is the brand’s largest in the Asia region, and features men’s and women’s ready-to-wear, leather goods, handbags, eyewear, footwear, fragrances, jewellery and home decor.

    The store’s facade is composed of more than 900 metal panels similar to a motif featured on the brand’s handbag range, while the understated interior design matches Bottega Veneta’s furniture aesthetic.

    The label’s GM Claus-Dietrich Lahrs said in a statement that the Japanese clientele is important and extremely loyal – adding that Japan is one of the world’s leading markets for Bottega Veneta.

  • VW new sedan model launched

    VW new sedan model launched

    Volkswagen launched its sleek new midsize Arteon sedan in Korea on Wednesday with high hopes that the car will overshadow consumers’ memories of the company’s emissions rigging scandal, which was first revealed three years ago. The sedan is the last of the five cars the German automaker promised to roll out in the local market in April, when it opened up a press event to show it was back in Korea after suspending sales in 2016.

    Stefan Krapp, the managing director of Volkswagen Korea, said he is “convinced the new Volkswagen Arteon will be another best seller in the Korean market, alongside the Tiguan, Tiguan Allspace and Passat,” during the launch event. He introduced the new sedan as its “new flagship model that opens a new chapter of Volkswagen’s design language.”

    The latest sedan is positioned at the top of the carmaker’s sedan line up, even above the Passat GT, according to Krapp.

    Under its sporty-looking exterior lies a spacious interior, thanks to the Arteon’s 28.40 centimeters (11.18 inches) wheelbase, which the carmaker says is the longest among its competition. The storage space can be as large as 1,557 liters (55 cubic feet) when the backseats are folded down.

    All Arteons come with a whole package of driving assistance programs, including adaptive cruise control and parking assist as basic features, in line with the digital trend sweeping the auto market. The cars come in two trims – Arteon Elegance Premium and Arteon Elegance Prestige. The most distinct feature of the Arteon is its quality assurance program.

    Krapp said the carmaker’s utmost priority is regaining consumer trust and reaffirmed the company will not compromise on quality.

    Volkswagen’s Triple Trust Program, exclusive to the Arteon, offers a bumper-to-bumper warranty for five years or 150,000 kilometers (93,205 miles), whichever comes earlier. The program also guarantees up to 1.5 million won ($1,347) in maintenance costs when metal plating or painting is necessary after an accident. For windshield glass, side mirrors and tires, which often need to be replaced, the company will guarantee up to 2 million won in repair cost.

    “This package is the best available in the market, I would say,” Krapp said. He added that in the import car market, where consumers usually sacrifice either style or value for money, the Arteon offers both.

    “This is how we will challenge our competitors,” he added.

    Though Volkswagen had no sales at all last year, it has gradually been coming back to life thanks to the popularity of the four models it launched earlier this year: the Passat GT, Tiguan, Tiguan Allspace and Passat TSI. The automaker’s market share in the local market is still in the single digits, low compared to good days when its shares were in the double digits, but it managed to reach 5.65 percent market share this year through October and sell a total of 12,294 cars.

    Whether the Arteon will help sales is another question, as it’s a pricey product. The more affordable Arteon Elegance Premium carries 52.2 million won price tag, while the Prestige model sells for 57.1 million won.