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Tag: luxury

  • Morgan Tan to lead Shiseido China region

    Morgan Tan to lead Shiseido China region

    Shiseido is boosting management of its Greater China business as part of a new strategy to boost is presence and sales in the region. Hong Kong-based Morgan Tan has been named as the senior VP of the Prestige Brands Division for the China region and will take up the new role on January 1. In her new role, Morgan will drive the growth of the prestige brands business in the China region under the new regional headquarters system.

    Morgan Tan has been with retail industry for more than 20 years, with experience in fashion, luxury and cosmetics. She started with Polo Ralph Lauren in Taipei before moving to Hong Kong in 2003 as the sales and operations director at Lane Crawford Hong Kong, gaining experience in leasing, merchandising and e-commerce. She was appointed president of Shiseido Hong Kong in 2015 and will retain that role along with her new one.

    The appointment is a key part of Shiseido’s medium-to-long-term strategy, Vision 2020, in which the company aspires to “be a global winner with our heritage” by ensuring sustainable growth in the Chinese market.

    Shiseido said in a statement that it will reinforce both the brand and corporate business structures in the China region “to enhance brand appeal to Chinese consumers and strengthen market execution”.

    Kentaro Fujiwara, as president and CEO of China region, will oversee the strategic alliances with emerging e-commerce platform companies across the region

    Newly hired Julie Chiang has been appointed chief marketing officer, overseeing Shiseido’s cosmetics brands and personal care brands.

    Other new China region appointments are Anson Yu as CFO, Julia Li as chief people officer, and Zaheer Nooruddin as senior VP, digital experience division.

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  • Tommy Hilfiger opens first Indian store

    Tommy Hilfiger opens first Indian store

    Last week, Tommy Hilfiger has opened its first exclusive Tommy Hilfiger store in Patna, India. Actress Radhika Apte made the launch of the event wearing the brand’s clothes. “I’m excited to be in Patna to celebrate the opening of the first exclusive TOMMY HILFIGER store in the city,” she said.

    During the event, key influencers such as Ira Dubey, Carol Gracias, Neelaksh Apte, Kanishtha Dhankar and Arya Bhat, and VIPs browsed and shopped the Fall 2018 collections that celebrate American Icons while putting a modern twist on timeless classics to meet the needs of the now.

    Spanning over 125 square meters, the store’s design reflects Tommy Hilfiger’s new global retail concept, which fuses the brand’s American heritage with clean and bright aesthetic.

    The interior takes cue from the nautical lifestyle – one of Tommy Hilfiger’s longstanding sources of inspiration.

    Technology being at the center of retail today, a high-resolution digital screen
    showcases the brand’s latest global campaigns for an immersive brand experience.

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  • Abercrombie & Fitch results going uphill

    Abercrombie & Fitch results going uphill

    Abercrombie & Fitch is on the right road to recovery. Third-quarter net income is up by 133 per cent year on year, supported by a 75 per cent increase in operating profit. The company has still delivered positive comparables both overall and for each of the Hollister and Abercrombie brands. And at 6 per cent growth, US comparables are still on fairly solid ground.

    While Abercrombie & Fitch’s sales growth has slowed, both overall and on a comparable basis, and total sales at the Abercrombie brand have slipped into negative territory, a calendar shift in reporting periods, currency fluctuations and some tough-to-match prior year comparable figures are mitigating factors.

    GlobalData’s consumer-tracking data continues to show a number of positive movements in consumer sentiment about both of the main brands. Over the past year, there has been a 4 percentage point increase in the number of American shoppers who say they consider Abercrombie when shopping for apparel. For Hollister, the same metric rose by just shy of 6 percentage points. The same research also reveals that among core shoppers, perceptions of quality and design at both Abercrombie and Hollister are up sharply on last year.

    The results justify the step changes that have been made to things like fabrication, detailing and styling of the product set. The range – especially at Abercrombie – is now more sophisticated, more on-trend, and better reflects what modern consumers want. There is also a cohesiveness to the assortment which stimulates multiple purchases and helps to push up average transaction values. However, as good as these things are, both brands have more to do yet in making consumers aware of the changes and getting them to take a fresh look at the brands.

    Many of the positive movements are far more pronounced in the US than they are elsewhere. In our view, the geographical difference in the pace of recovery is telling. While it is right that the company has focused its recovery efforts on its most important market, there is now a need to adapt some of the strategies and plays so that they are relevant overseas. Customer dynamics, competitive sets, and perception of the brands are all very different in markets like the UK and a degree of localisation is needed to ensure that the brands fully resonate with regional consumers. We believe management recognises this and has already taken some steps, such as opening a new-format mall-based store in the UK at Manchester’s Intu Trafford Centre.

    Overall, the recovery at Abercrombie & Fitch is still a work in progress. However, turning around a once very-troubled brand is far from easy. Progress and advancement do not all come at once; this is a step-by-step process that will build over time.

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  • LF Beauty rebrands as MEIYUME

    LF Beauty rebrands as MEIYUME

    LF Beauty, a one-stop shop partner and supplier of products and solutions for the beauty industry announced that it will now operate under the new brand name of MEIYUME. The rebranding comes to represent the evolution of the company and its response to the rapidly-changing beauty landscape and the changing face of today’s consumer.

    The new brand positioning is based on the idea of MEIYUME as the catalyst shaping opportunities and transforming visions into reality with the fusion of MEI (美), Chinese for beauty, and YUME (夢), Japanese for dream.

    As part of the rebrand, MEIYUME’s business has been restructured into three key divisions: Packaging & Turnkey Solutions, Retail Solutions, and Brands.

    The rebrand has also given the company an opportunity to renew focus on its business strategy of Empowering Beauty Solutions. In addition to empowering established brands by providing them with the right products and solutions, it is also about paving the way for new brands to make their mark by collaborating and translating their unique identities into reality.

    “With a new brand and structure, we are best-positioned to connect end consumers and the entire supply chain, and to create value for our customers like no other company in our industry.”said Gerard Raymond, President of MEIYUME.

    Fung Group’s Deputy Group Chairman, William Fung, added: “It is the right time to undergo a full rebrand and really focus on who we are and the value we deliver to our customers.”

    The rebrand comes after the completion of Li & Fung’s strategic divestment of its three product verticals (Furniture, Sweaters and Beauty) in April 2018 to form LH Pegasus, which is 45% owned by Hony Capital and 55% owned by the Fung Group.

  • Tiffany & Co sales soars, China shines

    Tiffany & Co sales soars, China shines

    Tiffany & Co sales grew 10 per cent worldwide in the third quarter, with China performing strongly. Management of the luxury American jewellery retailer attributed sales growth to higher spending by local customers in all regions, partly offset by lower spending attributed to foreign tourists, primarily Chinese, in some markets. Worldwide net sales rose 10 per cent to US$3.1 billion, due to increased sales in all regions and product categories.

    Tiffany & Co sales in Asia-Pacific rose 4 per cent to $294 million in the third quarter, highlighted by strong sales growth in Mainland China.

    CEO Alessandro Bogliolo noted that third-quarter sales attributed to local customers (as opposed to tourists) continued to grow at a strong rate worldwide and were positive in every region, with particularly strong growth in Mainland China.

    “Jewellery volumes also increased in the quarter and year to date. This resulted in mid to single digit net sales growth in the quarter and even higher growth year to date, despite lower-than-expected spending in the third quarter attributed to Chinese tourists in the US and Hong Kong and lower wholesale travel-retail sales in Korea.”

    The increase in sales was counterbalanced by a drop in operating income of 22.9 per cent over the past year, attributed to higher spending on marketing, and investment in technology and its new digital channel.

    Neil Saunders, MD of GlobalData Retail, said his company’s consumer tracking shows that Tiffany’s brand recognition and affinity has increased sharply among consumers aged 35 and under.

    “A few years ago, this group was largely apathetic to Tiffany, viewing the brand as old-fashioned and irrelevant to their needs and tastes. In a relatively short space of time, Tiffany has started to shift that perception and demonstrate that it has something fresh to offer to younger consumers.”

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  • Luk Fook sales soar despite challenges ahead

    Luk Fook sales soar despite challenges ahead

    Thanks to positive Hong Kong market sentiment and lower gold prices, Luk Fook Holdings has reported a 25.1 per cent boost in sales in the September half year. The company says sales totalled HK$7.859 billion (US$1 billion) compared with $6.283 billion in the same period last year. Profit attributable to shareholders soared 27.9 per cent to $665.4 million.

    Sales in the Hong Kong market, the company’s key source of revenue, rose 31.2 per cent as mainland Chinese visitor numbers continued to grow and retail sentiment improved.

    Sales in Macau rose 19.9 per cent.

    However the company has warned that the US-China trade war and the depreciation of the Renminbi are starting to impact on sales in the second half.

    “Same-store sales growth in the Hong Kong and Macau markets … started to see a decline since the second half of October and recorded a single-digit drop for the period from October to [the] first three weeks of November,” the company said. “In Mainland China there was a double-digit drop.

    “Therefore, the group remains prudent about its business development in the second half of the financial year. Nevertheless, with the anticipated considerable growth of the middle-class population in Mainland China, the group remains optimistic about the mid- to long-term business prospects.”

    Luk Fook said that during the coming year, it will focus on enriching its product offer, expanding its footprint in Mainland China and adopting market-oriented strategies to penetrate into the mass market, covering the middle-class, wedding couples as well as kids.

    “The group’s target for net shop addition in Mainland China for this financial year will maintain at not less than 120 shops. The group is also committed to further developing its e-commerce business and strengthening cooperation with e-commerce platforms in Mainland China.”

    Targeting younger shoppers

    In light of the enormous spending potential of young consumers on online sales platforms, the company plans to step up its efforts to promote the sales of affordable-luxury jewellery products to expand its footprint in the young consumer market.

    “By understanding customers’ spending habits, the group will adopt holistic approach to penetrate into the markets for the middle-class, wedding couples and kids. It will also continue to attract customers and encourage local consumption by visual merchandising enhancement, cross-selling boosting and VIP promotional activities, so as to improve sales and profits. Given the importance of social media in product promotion, the group will continue to showcase and promote its products on mobile applications and social media platforms such as Facebook and WeChat.”

    During the first half of the financial year, Luk Fook added a net 94 stores to its ever-growing network, including 90 in Mainland China, where is closed six self-operated stores and opened 96 licensed stores. Two company-owned stores opened in Hong Kong, one in Macau, and one in Malaysia, with a new licensed shop opening in the Philippines, However, one licensed store closed in South Korea.

    The group now boasts a global network of 1725 Lukfook shops spanning Hong Kong, Macau, Mainland China, Singapore, Malaysia, Cambodia, the Philippines and the US.

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  • L’Occitane might be an interest for Advent

    L’Occitane might be an interest for Advent

    Hong Kong-listed beauty products retailer L’Occitane may be taken private after at least one expression of interest in the business from a private equity investor. London-based private equity group Advent International has reportedly enquired about acquiring the company, which has an estimated US$2.7 billion market value.

    L’Occitane’s appeal has grown since listing on the HKSE eight years ago in a move to pursue Asian customers. While none of the parties involved have commented, sources close to L’Occitane have confirmed to European business media that “a number of potential buyers” are showing signs of interest.

    L’Occitane is thought to be well-positioned to take advantage of a fast-growing cosmetics and skincare market in the region, brought on by the expansion of the middle class and the Chinese tourism boom.

    L’Occitane’s is chaired by Austrian investor Reinold Geiger, who has overseen its growth internationally to 1555 outlets in 90 countries. The firm is experiencing sales growth in Hong Kong and China, as well as the US.

    It recently unveiled new concept stores in Canada and New York showing its future direction.

  • Kering’s new digital strategy revealed

    Kering’s new digital strategy revealed

    Customers draw inspiration from today’s hyperconnected world and they engage with luxury brands through the digital tools they use every day. In a fast-changing environment, the success of luxury houses depends upon their ability to offer creative propositions, and a consistent customer experience across all distribution channels and devices.

    In December 2017, Kering appointed Grégory Boutté as Chief Client and Digital Officer with the mission to carry out Kering’s digital transformation and to take the lead on e-commerce, CRM, data science and innovation for the Group. Since then, e-commerce has been the fastest growing channel for all Kering’s brands and represents 6% of the Group’s total retail sales for the first half of 2018.

    “Digital can be many different things at once – a distribution channel; a platform for offering seamless omni-channel services to clients; a driver of brand image and visibility; and a tool for engaging with customers in a personalized way. Digital technology, data science and innovation provide a way of offering our customers the best possible experience – on every touchpoint”, declared Grégory Boutté.

    Drawing upon his vision, Kering’s digital approach is based on the following objectives:

    • to provide the Group and its Houses with a real-time 360-degree view of their customers, and to deliver rich and personalized experiences;
    • to offer clients high levels of service, from initial transaction to after-sales;
    • to enable Kering’s Houses to develop close relationships with their clients and to adapt their offerings in order to meet specific needs.

    Today, Kering is announcing new milestones on its digital journey.

    The following initiatives will strengthen Kering’s focus on enhancing the Group’s omni-channel capabilities and further developing its Houses’ digital activities.

    In-store customer experience

    Kering is working on a suite of apps in partnership with Apple to be used by Houses staff in store, the first of which is a store experience app that enables sales associates in-store to access stock levels in real time to provide their customers with a fully personalized service.

    Via the app, sales associates know instantly if a specific size or color is available in-store or if it can be ordered from other stores; they can also give customized styling recommendations.

    Client service

    Kering developed a new approach to customer service with centralized teams in Europe and the US focused on addressing customers’ requests.

    Gucci, Saint Laurent and Bottega Veneta have dedicated teams, while other brands grouped their efforts under a single customer service unit, operated by Kering on their behalf.

    CRM and Communication

    Kering has launched several pilot projects using data science techniques to deliver personalized messages and experiences to customers, based on their profile and purchasing history.

    All Kering Houses have launched or are launching WeChat mini-programs in order to build as close a relationship as possible with their Chinese customers and to offer social commerce.

    E-commerce 

    Kering will leverage its in-house technology and operations team to fully internalize the e-commerce activities currently handled through the joint venture with YNAP.

    Following a highly successful and fruitful seven-year partnership with YNAP, these e-commerce activities will transition to Kering in the first half of 2020.

    Coordinated efforts and shared expertise with YNAP have enabled Kering Houses to enhance the level of service of their e-commerce websites. Most of them now offer services such as check availability, reserve in store, make store appointment, pick-up in store, return in store, exchange in store, and buy online in store.

    Kering will continue to develop partnerships with third-party e-commerce platforms when relevant.

    Digital capabilities

    A data science team has been created at Group level to improve the service provided to the clients of Kering’s Houses by making the best use of the available data.

    A China-based Client & Digital team is currently being formed. It will be responsible for adapting digital practices to the Chinese market, along with identifying and promoting innovations from China to other markets.

    Kering’s Group Innovation team has been tasked with two missions: to instill an internal culture of innovation (test-and-learn approach, quick sharing of discoveries, scouting business trends), and to work on disruptive technologies to further improve the client experience in the future in terms of business or environmental matters.

    Kering’s Chief Client & Digital Officer Grégory Boutté added: “These exciting new initiatives have been designed to meet – and exceed – the needs of our Houses’ customers and to ensure we continue to offer them an exceptional experience across all channels in a fast-changing global market. These opportunities have been made possible by the experience and know-how that Kering has gained over the years, notably through its successful joint venture with YNAP. We will continue to work with them post-transition and to enjoy a fruitful relationship.”

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  • Lanvin creative director departs the company

    Lanvin creative director departs the company

    Lanvin has announced the departure of its menswear creative director, Lucas Ossendrijver, adding to a turbulent few years for the French label. Appointed under the mentorship of former creative director Alber Elbaz, Dutch designer Ossendrijver served as the creative chief of the 129-year-old brand’s menswear department for 14 years.

    Elbaz, creative director of Lanvin’s women’s wear since 2001, left the house in October 2015 after falling out with majority shareholder Shaw-Lan Wang over the direction of the brand.

    In February this year, Wang sold the title to Chinese conglomerate Fosun International.

    French designer Bouchra Jarrar, who was Elbaz’s replacement, left Lanvin after just 16 months before her successor, Olivier Lapidus, stepped down after only eight months.

    Bruno Sialelli, former head of Loewe menswear, is reported to the front runner to replace Ossendrijver.

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  • Celine and Givenchy joins Paris menswear show schedule

    Celine and Givenchy joins Paris menswear show schedule

    After Hedi Slimane premiered Celine menswear via a co-ed catwalk show on September 28, the brand has announced that it will join the Paris menswear calendar in January 2019. Celine is currently negotiating a show date with the Fédération de la Haute Couture et de la Mode, and it is not yet known whether the brand will present solely menswear, or whether Slimane will pepper the offering with womenswear as per his debut.

    The move is indicative of the fact that Celine’s parent company LVMH has got its sights set on the burgeoning menswear market.

    When Slimane took the helm in February 2018, it was made clear that the new category will be a key sales driver, along with leather goods, accessories and fragrances.

    “The objective with him is to reach at least two billion to three billion euros, and perhaps more, within five years,” LVMH chairman and CEO Bernard Arnault said of Slimane’s appointment.

    In the last year, LVMH has appointed new head designers at Berluti, as well as the menswear divisions of Louis Vuitton and Dior. And, just weeks ago, Givenchy, another brand within the French conglomerate’s stable, announced that it will rejoin the menswear calendar for the autumn/winter 2019 season.

    As a growing number of brands, including Maison Margiela, Stella McCartney, Balenciaga, Haider Ackermann and Sonia Rykiel, merge their menswear and womenswear for the sake of presentations, LVMH is making great strides to make a splash on both schedules and to take a hold of both markets.

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  • Poor customer experience costs retailers in Asia

    Poor customer experience costs retailers in Asia

    Nearly two-thirds (63 per cent) of consumers in Asia will no longer shop with a retailer after just one poor customer experience. That is one of the conclusions of a research study conducted by unified commerce provider Tofugear in partnership with Rakuten Insight. Based on a survey of 6000 shoppers across 12 countries in Asia, the research underlines the importance of delivering on experience for retailers.

    Top frustrations with stores included products being out of stock, long checkout queues and poor service from staff. When it comes to online shopping, consumers were turned off by high shipping costs, inaccurate product information and slow fulfilment speeds.

    Philip Wiggenraad, head of research at Tofugear, says: “The connected consumer in Asia is empowered and not afraid to look elsewhere when their needs are not being met. Retailers need to understand that they often only have one chance to get it right.”

    E-commerce is popular with consumers in the region: 59 per cent prefer to shop online rather than in stores.

    However, there were considerable variations depending on the country. China led the way (88 per cent), while markets such as Hong Kong and Singapore (both 51 per cent) were more evenly split in their preferences between online or stores.

    While millennials are the most prolific online shoppers, with more than half (55 per cent) doing so at least once a week, Gen Z also has a definite lean towards the online channel.

    “Physical retailers expecting a resurgence of the store driven by Gen Z should think twice and continue to look at ways to make their stores relevant in the digital age,” says Wiggenraad.

    Respondents to the survey showed a strong willingness to engage with store technologies in order to make their shopping journey more frictionless. Two-thirds (65 per cent) would use their mobile phone for self-checkout, while 62 per cent were open to using apps in stores as part of a connected retail experience.

    Access the full findings of the Digital Consumer in Asia 2018 report by downloading the PDF here.

  • Snapdeal unveils ‘Brand Shield’ to help firms fight counterfeits

    Snapdeal unveils ‘Brand Shield’ to help firms fight counterfeits

    India’s e-commerce major Snapdeal Monday said it has launched ‘Brand Shield’, an anti-counterfeiting programme to help brands report counterfeit products being sold on its platform. The programme has been designed based on the inputs received from various brand owners, Snapdeal said in a statement.

    The programme is aimed at enabling a structured interaction between the platform and brands with regard to any intellectual property (IP) issues flagged by the brand, it added.

    Under Brand Shield, there will be an online, triple-check point process for brands to report any violation of their IP rights in terms of trademark, copyright, patent or concerns related to design.

    Brands can also list specific issues relating to unlawful copying of logos, brand images, design features and packaging by sellers listed on Snapdeal’s platform. Brands will be required to establish their ownership of the IP, identify the listing of concern through proof and state their claim of infringement.

    The statement said designated teams at Snapdeal will review every report of IP infringement submitted through Brand Shield. Upon verification of the accuracy and adequacy of the information provided by the brand, Snapdeal will take down the listing within one business day, it added.

    In continuation of current practice, Snapdeal will also continue to de-list products/ listings in compliance with any directions or orders passed by the courts and other relevant authorities, the statement said.

    “The issue of unscrupulous sellers misusing online marketplaces to sell fake goods is a global problem. Brand Shield is part of our ongoing initiatives to collaborate with brands owners to combat counterfeits and infringement offences,” a Snapdeal spokesperson said.

    Snapdeal, an online marketplace, acts as an intermediary connecting buyers and independent third party sellers. It also prohibits the sale of counterfeit products on its marketplace and any sellers found in violation are penalised as per the terms of agreements with the sellers, the statement said.

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  • Luxury footwear label A.Testoni bought by Hong Kongese group Sitoy

    Luxury footwear label A.Testoni bought by Hong Kongese group Sitoy

    Hong Kong leather goods manufacturer Sitoy Group has acquired Italian luxury brand A.Testoni. Sitoy’s investment allows A.Testoni to maintain its brand identity and maximise on its artisanal heritage in a long-term strategy to drive the brand’s ongoing development.

    Sitoy’s chairman Michael Yeung Wah Keung said: “We are very pleased to welcome A.Testoni as a part of the Sitoy Group and work together to realise the full potential of the brand. As we celebrate our 50th anniversary this year, the acquisition marks an important milestone in the transformation of our retail and brand management business into a global dimension.”

    CEO of A.Testoni Bruno Fantechi said the acquisition comes after many years of fruitful partnership in Mainland China, where Sitoy has been a key partner in developing the brand’s distribution.

    “It recognises the inherent value in the brand’s unique levels of quality, craftsmanship and innovation which will drive significant future growth and development.”

  • Roger Dubuis appointed new CEO

    Roger Dubuis appointed new CEO

    Effective December 1, Nicola Andreatta will be the new Chief Executive Officer of Manufacture Roger Dubuis. Nicola comes with 20 years of experience in the management of luxury and watch industries. In 2013, Nicola was appointed Vice President and General Manager of the Swiss entities of Tiffany & Co.

    Prior to that, Nicola founded N.O.A. Watch Company in Ticino, Switzerland, which he developed during more than 10 years. And before founding his own company as an entrepreneur, Nicola held various roles in Asia in the watch and luxury industries, as Managing Director, COO and CFO, with the companies, AC Services Ltd, Harwood Investments Ltd and Art Concord Ltd, where he has started his career in 1998.

  • DFS Group Kicks Off Its Seasonal Gifting Campaign

    DFS Group Kicks Off Its Seasonal Gifting Campaign

    DFS Group has kicked off its annual gifting campaign at T Galleria by DFS in Okinawa. The “Give Joy”-themed campaign opened on November 24, showcasing DFS’s first ever “Personalisation Gift Shop” concept, where an assortment of specially curated luxury gifts can be personalised, along with services. The concept will now be rolled out in T Galleria by DFS stores in Hong Kong’s Canton Road and Macau’s City of Dreams, along with stores in Singapore, Angkor (Cambodia), Saipan, Bali, Guam, Okinawa, Hawaii and Sydney.

    The store was transformed into a “gifting wonderland” at the launch as guests were invited to try the personalisation services – monogramming leather goods, and adorning t-shirts and tote bags with Foxy’s six DFS exclusive emoji iron-on patches.

    DFS Group executive VP merchandising Ariel Gentzbourger said: “Thanks to our unique approach to gifting, and our understanding of what our customers are seeking, we have created a shopping experience that is a joy in itself.”

    Gifting-themed entertainment at the event included a life-size advent calendar overflowing with holiday treasures, a special visit from Santa Claus and a “candygram” corner for guests to pick and mix sweet treats.

    View the gallery below for the report of the event (11 images) :

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