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Tag: luxury

  • Coach & Kate Spade power Tapestry sales

    Coach & Kate Spade power Tapestry sales

    One year into its major push to become an American luxury conglomerate, things appear to be moving in the right direction at Tapestry, which recently posted first-quarter results that topped expectations across the board. The firm — parent of Coach, Kate Spade and Stuart Weitzman — said its Q1 sales advanced 7 percent to $1.38 billion, driven mostly by the flagship Coach brand but also helped by Kate Spade, which it acquired in 2017.

    “Results were driven by continued growth at Coach, where global comparable store sales rose 4 percent, led by outperformance in digital, and reflected our compelling offering across categories and channels,” said Tapestry CEO Victor Luis. “Kate Spade contributed to our overall performance, as we made continued progress on our integration efforts, including the realization of synergies and the execution of strategic initiatives.”

    Trends at Stuart Weitzman, improved from the prior quarter, according to Luis, but results continued to be negatively impacted by development and delivery delays, which pressured sales and margins.

    “Production levels and shipments have now stabilized, reflecting the investment in talent and processes, as well as added manufacturing capacity. As a result, we remain on track to achieve profitable sales growth in the holiday quarter,” Luis added.

    Overall, the company reversed the prior year’s losses, posting profits of $122 million, or 42 cents per diluted share. Adjusted profits were $142 million, or 48 cents per share, topping analysts’ bets for 45 cents per share.

    By brand, net sales at Coach rose 4 percent to $961 million, Kate Spade’s sales surged 21 percent to $325 million, and Stuart Weitzman fell 1 percent to $95 million.

    “Our first-quarter performance and progress on our strategic priorities to date give us confidence in our ability to achieve the goals we’ve set out for fiscal 2019,” said Luis.

    “We continue to expect to deliver strong revenue and operating income growth, while making investments to support our long-term vision and drive a return to both double-digit operating income and earnings-per-share growth in fiscal 2020.”

    To that end, the firm lifted its profit outlook for the fiscal year and now projects earnings per diluted share in the range of $2.75 to $2.80, compared with the previous range of $2.70 to $2.80. It continues to expect revenues to increase at a mid-single-digit rate to $6.1 billion to $6.2 billion.

     

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  • Karl Lagerfeld x Mood by Christofle

    Karl Lagerfeld x Mood by Christofle

    Karl Lagerfeld has collaborated with Christofle, the luxury Parisian silversmith, on an exclusive edition of the “MOOD” flatware set and decorative case. Taking inspiration from the Art Deco movement, Karl — himself a long-time connoisseur of Christofle — designed a striking, symmetrical pattern of graphic lines to appear on the elliptical egg shape.

    There are two versions that have been created: one in polished silver and one in black, lacquered stainless steel. The sleek MOOD opens to reveal a 24-piece silver-plated cutlery set.

    Each piece is stamped with a subtle linear print, the Christofle hallmark and the iconic Karl Lagerfeld silhouette logo.

    The Mood is Christofle’s most renowned design that reimages the classic codes of table setting; it reflects the brand’s vision for relaxed but refined entertaining.

    The partnership with Karl Lagerfeld marks the first time in Christofle’s 188-year history that it has worked with a fashion brand.

  • Versus to merge into Versace Jeans line

    Versus to merge into Versace Jeans line

    It has only been a month since Versace announced it was to be sold to Michael Kors’ parent company Capri Holdings for a reported sum of 2.12 billion dollars. As an early indicator of change, and perhaps cost-saving measures under its new structuring, Versace is to integrate its Versus line into Versace Jeans.

    Versace Chief Executive Jonathan Akeroyd said “During the last few months we have studied how to simplify our business model with a view to focusing on the portfolio of our brands, continuing to ensure innovation and relevance in everything we do. We decided to integrate our two contemporary collections into one, merging Versus and Versace Jeans. This operation will allow us to further develop Versace Jeans’ proposals and, at the same time, not to lose the DNA and the codes that have made this iconic Versus “.

    The collection was notably absent from the catwalk and fashion week after it decamped to London to show its autumn winter 2018 collection.

    The Versace Jeans label is currently under license to Swinger International, also the licensing partner to brands including Genny and Cavalli Class.

    The unexpected move by Versace is indicative of the transformations and shakeups happening in luxury brand’s diffusion ranges.

    Earlier this week Blufin announced the launch of the new Be Blumarine label that will replace Blugirl; Missoni recently reported Margherita Missoni as the new creative director of its M Missoni diffusion line; Marc Jacobs famously shuttered his Marc by Marc Jacobs stores, integrating the label under a single brand umbrella.

    Donatella Versace will reportedly continue to lead the creative vision for the Versace brand.

    At the time of the acquisition it was reported she would become a shareholder of Capri Holdings, along with her brother and daughter.

  • Marriott International Wins AON Best Employer in APAC

    Marriott International Wins AON Best Employer in APAC

    Marriott International has once again been crowned Best Employer Asia Pacific by Aon plc (NYSE: AON). The company was also recognized as Aon Best Employer in 17 markets across APAC – an increase in four markets from last year. The accolades are testament to Marriott International’s commitment to its people and its active encouragement for them to be their best in both their professional and personal lives.

    Craig S. Smith, Marriott International’s President and Managing Director for Asia Pacific, said, “At Marriott International we put people first and take care of our associates so that they, in turn, take care of our guests. We are thrilled that this commitment to our people, which has been embedded in the company’s DNA from the outset, has been recognized yet again by Aon. We focus on training, developing and retaining our associates, creating a loyal and passionate workforce that is committed to offering the best service and experiences to our guests.”

    With over 680 properties across 23 brands in more than 20 markets and a further 530 plus properties in the pipeline, Asia Pacific is Marriott International’s second fastest-growing region. The organization’s approach to developing talent is central to this growth as increased opportunities in the company enable associates to progress their careers from within, retaining not only talent but also the legacy of service values and commitment to excellence throughout the entire operation.

    “We implement a systematic and purposeful approach to enable associates to realize their full potential through a structured human capital planning process,” said Regan Taikitsadaporn, Chief Human Resources Officer for Asia Pacific at Marriott International. “We see it as important to nurture and groom our talent with comprehensive training and leadership development programs to enable career growth and facilitate internal promotions that will empower the growth of our company. These initiatives help us attract best-in-class talent as well as create a positive and nurturing environment for all associates.”

    Marriott International also offers professional development programs for associates at every stage of their career, from the Global Voyage Leadership Development Program for recent university graduates to the Marriott Development Academy, which helps prepare aspiring and new managers for the leadership role of general managers. As part of its commitment to diversity and inclusion, Marriott also focuses on promoting and developing women leaders. In 2018 alone, the Asia Pacific region saw a 12 percent increase in the number of women general managers across Asia Pacific.

    Marriott International is the only company to receive global recognition consecutively since Aon began the program in 2014 – a testament to the group’s commitment to putting its people at the core of its business. In 2018, Marriott also achieved certification as Best Employer globally.

    With more than 15 years of experience in best employer studies across the world, backed by more than 20 years of experience in employee research, the Aon Best Employer program recognizes the achievements of organizations that demonstrate excellence in the workplace.

    The company’s research proves that Aon Best Employers drive a committed workforce and performance through a compelling employer brand, effective leadership, and a high performance culture and level of employee engagement.

    • Engagement: Employees speak positively about their employer, intend to stay, and are motivated to exert extra effort at work.
    • Leadership: Leaders treat employees as valued assets, engage employees in the vision, and lead the organization to success.
    • Performance Culture: Employees are aligned to organizational goals and are rewarded and recognized for their contribution.
    • Employer Brand: Employees are proud of being part of their organization and can clearly explain what makes their employer different from others.
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  • Hyundai Motor sells more than 200,000 Genesis units

    Hyundai Motor sells more than 200,000 Genesis units

    Sales of Hyundai Motor’s premium Genesis marquee surpassed 200,000 units three years after its official launch, industry data showed Sunday. According to the data, total sales of Genesis vehicles reached 206,882 as of the end of October, touching the 200,000 mark for the first time since November 2015, when Hyundai Motor launched the sub-luxury brand.

    With global sales of 555 units of Genesis cars in the first year, 58,916 units were sold in the following year and 78,889 units in 2017.

    For the first 10 months of 2018, Hyundai saw sales of the brand rise 6.1 percent on year to 68,522 units.

    The executive G80 model was the most popular in the Genesis lineup, with a cumulative 127,283 units sold worldwide, followed by the flagship G90 with 52,417 units sold and the G70 sports sedan with 27,182 units.

    Hyundai Motor said it will strengthen the Genesis lineup by upgrading popular models.

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  • Ocean Park to open a luxury Marriott hotel in 2019

    Ocean Park to open a luxury Marriott hotel in 2019

    Ocean Park will soon open its first ever hotel next year with an aim of further boosting the number of visitors. Developed by Lai Sun Group, the hotel has launched its soft opening early this week. According to Peter Lam, chairman of Lai Sun Group, the hotel will undergo further testing and trials in the next two to three months before its grand opening.

    Designed by Aedas, the Hong Kong Ocean Park Marriott Hotel comprises three towers – the Pier Wing, Club Wing and Marina Wing with 471 rooms.

    Three types of Ocean Park-themed rooms (Whiskers Submarine, Bao Bao Paradise, Redd Forest) are featured at the Pier Wing and Marina Wing.

    The rooms are so far said to cost about HK$2,100 on average.

    Targeting families on leisure and business travellers, the hotel includes a pillar-free ballroom spanning 1,200 square metres – one of the largest hotel facilities for events and meetings, the executive M Club, a signature outdoor lagoon pool, four restaurants and bars, and Harnn Heritage Spa.

    “The new destination resort offers a unique getaway experience in Hong Kong and is a perfect example of what Marriott means by travelling brilliantly,” said Mike Fulkerson, vice president, brand and marketing Asia Pacific, Marriott International.

    “There’s adventure on the site of Ocean Park Hong Kong, one of Asia’s leading conservation theme parks, convenient access to Hong Kong’s lesser-explored green spaces and remarkable proximity to the city’s shopping and business districts, broadening our guests’ perspectives and experiences in this globally renowned city.”

    In line with Ocean Park Hong Kong’s core value of environmental protection, the hotel is designed with the initiatives of sustainable future and reducing its environmental footprint.

    The façade features energy-saving components to keep the building cool in summer, as well as rainwater collection and vertical planting systems.

    It will also launch its own green education programme for kids and guests.

    The hotel will also be rolling out “M Passport”, a pilot programme that aims to encourage young visitors to participate in various resort activities with educational and fun themes, such as seashell art, scavenger hunts and dinners.

    Completion of each activity is linked to rewards and treats that’s tracked using a specially designed passport.

    Customers will be able to book exclusive packages for Ocean Park, such as tailor-made educational programmes, breakfast with animal experience with seasonal offers and access to unique animal programmes at the park.

    Leo Kung, chairman of Ocean Park Hong Kong said that the integration of the first hotel into Ocean Park by Marriott International signified the park’s transformation into a resort destination and reinforced its position as a leading “edutainment” attraction in Hong Kong.

    “From planning the stay, savouring magnificent hospitality at the hotel to enjoying delightful entertainment and animal encounters at the park, guests can expect a seamless journey filled with the thrill of discovery. The resort will bring unique experiences for the community and our next generation of visitors,”Kung concluded

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  • N°21 signs with Lee & Han for South Korean distribution

    N°21 signs with Lee & Han for South Korean distribution

    N°21 has major expansion plans in South Korea. The Italian fashion label designed and led by Alessandro Dell’Acqua has signed a distribution agreement with Lee & Han, a Korean distributor managing a broad portfolio of lifestyle brands, and plans to open 18 stores in the country in the next five years.

    N°21 had already opened a series of retail corners in the country, but it is now stepping up the pace of its growth.

    The first stage of N°21’s expansion strategy was the opening of a flagship store of over 300 square metres, the brand’s largest, in the Cheongdam district of Seoul, a hub for fashion labels.

    The store extends on two levels and showcases N°21’s ready-to-wear, footwear and accessories collections for men and women.

    The store’s interior design replicates that of N°21’s Milan flagship: the chromatic contrast of black and white on the marble floor, the polycarbonate and raw concrete ceilings, and plenty of mirrors, steel and aluminium.

    The store’s façade is entirely black, riffing on that of the label’s Omotesando store in Tokyo and of its new Milanese headquarters.

    The South Korean partner chosen by N°21 to support its expansion the country is a shareholder and licensee of Converse and Kappa, and is very active in the multibrand retail business (with Han Style, Han Style Men, Han Style Kids and Han Style Shoe) and as an exclusive distributor of international fashion labels like Delvaux, Giambattista Valli, Emilio Pucci, Nina Ricci, MSGM, Mr & Mrs Italy, Premiata, and others.

    N°21 is distributed by the Gilmar group in over 600 multibrand stores worldwide, and in Asia it currently operates monobrand stores in Tokyo, Hong Kong and Beijing.

    In 2016, the latest year for which figures are available, N°21 generated a revenue of €52 million, up 117% compared to 2015.

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  • Luxasia Vietnam targets generation z buyer

    Luxasia Vietnam targets generation z buyer

    Singaporean luxury beauty and lifestyle distributor Luxasia is making moves into Vietnam. The brand will be targeting younger millennial consumers who are thought to be responsive to social media and social media influencers.

    Luxasia Vietnam is focusing on the nation’s fast-growing economy and strong population of nearly 100 million. It currently offers 20 brands in the market, but is planning to introduce more incrementally. It also has designs on developing new distribution channels via small independent perfumeries, and building an e-commerce platform.

    Luxasia’s regional MD Karen Ong said of the Vietnamese market potential for beauty products, “It is still very much big brands focused. People want to use something other people recognise.”​

    Regarding the business climate, Ong commented: “In Singapore we take things for granted. We shake on it and we think it’s done and that everyone knows what to do. But there, you have to follow up and chase. There’s a lot of email back and forth. It reminds me of how we used to do business 10 to 15 years ago.”

    “It’s still very relationship based, the speed is much slower, and even if you plan way in advance, things may not always execute the way you have planned. The follow up has to be very close and you have to be very prescriptive in the way things want to be done.”​

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  • DLF Emporio: 10 years of a successful luxury retail journey

    DLF Emporio: 10 years of a successful luxury retail journey

    DLF Emporio is a name to reckon with in the evergrowing luxury retail space in India and the credit for its successful journey, spanning 10 years, goes to Dinaz Madhukar – a stalwart in the hospitality sector in India. Madhukar has over 24 years of operational experience with The Taj Group of Hotels, India’s largest luxury hospitality chain, as General Manager where she led multiple functions. Currently, she is responsible for providing executive leadership and management of DLF’s Vasant Kunj Retail Complex including DLF Emporio and DLF Restaurants – including the iconic Set’z. In addition to this, she is responsible for the management of DLF’s hospitality vertical, which includes The Lodhi. She also looks after the brand’s spanking new luxury addition to the capital – The Chanakya.

    Sharing the secret recipe of success, Dinaz Madhukar’s, EVP, DLF Luxury Retail & Hospitality says, “Luxury, in its very essence, thrives on exclusivity and personalized experiences. Technology, has proven to be a strong ally for the luxury brands and engagement with the audience has become more direct. We use the social and digital media to introduce disruptive content and creative campaigns to connect with our patrons, which leads to a direct impact on footfalls and sales.”

    In an exclusive interview with Shopping Centre News, Madhukar talks about the journey of DLF Emporio over the past 10 years, the challenges, expansion plans and the future of luxury malls in India.

    DLF Emporio has successfully completed 10 years of operations. Tell us about the journey been so far?

    When DLF Emporio started operations in Delhi in 2008, there was no antecedence on how to do it right. At that time no other real estate brand had forayed into the luxury retail terrain. For DLF Emporio, therefore, there was neither an example nor a benchmark; however, ten years of successful operations undoubtedly is a coup for the brand.

    In many ways, DLF Emporio remains a case study for the luxury retail spaces, across India. The mall is today globally synonymous with Indian luxury retail and has been catalytic in putting India back on the global luxury retail map. The Indian luxury retail trail, begins with DLF Emporio and goes on to set higher expectations for their next luxury project, The Chanakya. This young one-year-old property is wisely curated given its compact nature and is poised to cater to the niche and discerning young and mature digitally savvy audiences.

    What, according to you, are the key elements that determined the success of DLF Emporio?

    The success of every business depends on understanding the pulse of your customers and pre-empting and adapting to the change in dynamics of the everevolving market space.

    DLF Emporio has been very cognizant of creating bespoke customer and retailer experiences in keeping with aggressive marketing and promotion plans of its retail partners, and I think keeping pace with and supporting the marketing needs of each retailer and guest, is what has worked for us.

    The marriage of hospitality services with luxury retail has been key to best attend the needs of both the retail partner and our guests.

    If you were to look at the annual brand properties created by DLF Emporio right from the luxury shopping festival, to couture weddings, down to the shopping fiesta, every event property is focused at addressing and pushing targeted business goals of our retail partners, while showcasing the best of luxury fashion and hospitality to our loyal customer base. The idea is to continually support both our retail and customer audiences with winning propositions for each.

    In the past 10 years, how have you seen the fashion luxury market evolving in India?

    The Indian luxury retail industry has been on a growth trajectory ever since we opened our doors in 2008. We have actually seen the customers’ taste maturing over the years. When the luxury brands came into India it was more of a sellers’ market; however, today we see a conscious buyers’ market where subtlety and self-astuteness guide govern purchase behaviour. Our guests have always veered towards quality and craftsmanship, and today you will see a significant acceptance and slant towards bespoke merchandise and limited-edition products. The guests today adhere to the ‘less is more’ adage when it comes to investing in luxury.

    India has always been a great purveyor of luxury. The initial luxury patrons were the royalty and today the most decadent luxury products are consumed by not just HNI’s but also top CXO’s, young, mature and astute entrepreneurs. We have also seen the emergence of the young start-up communities egging their ways into the Unicorn universe; these are also voracious consumers of luxury.

    The trend now is slowly shifting from product and brand focused luxury to experiential luxury consumption. You do see brands reflecting this shift with their new verticals and product innovations. Earlier, technology was restricted to corporate corridors in the silicon valleys, however, technological disruptions are now becoming a norm across luxury brands. These tech-luxe disruptions are focused on capturing eyeballs and mind space of the more assertive, highly demanding and seriously articulate, young Millennials, who live their lives on, and consumer information on virtual and social mediums.

    How has the brand mix at the mall changed over the years?

    The brand mix has remained broadly the same. In fact, we have had to request some brands to give back some proportion of their spaces to us in order to pave room for new brands. As the market and the consumer evolved, we have seen an epic change in the kind of ranges and products that the brands started introducing in the mall.

    Monograms have made way for subtle luxury, and limited editions are becoming more coveted. The propensity to own, gave way to the intent to own curated, one-of-a-kind, products.

    What are the new brands that you are introducing this year?

    We have already introduced first-comers of luxury in India, including names like Berluti and Molton Brown. Polo by Ralph Lauren has also launched its store at DLF Emporio. We have added a global luxury porcelain art creator like Lladro to our brand mix, which makes the DLF Emporio luxury retail proposition even more exciting. India will continue to be a lucrative market for global luxury brands given its discerning customer mix and penchant for curated luxury.

    Do you see luxury shopping in India evolving in the future?

    2018 is turning out to be a massive year in the world of luxury retail in India. The retail industry has depicted a future forward and a very positive growth, and we see this trend continuing. Luxury is no longer the bastion of a few but fast becoming the remit of the successful first-generation entrepreneurs, the affluent corporate and the young and the aggressive successful start-up landscape.

    Older brand narratives are finding vibrant new platforms. Brands are re-inventing storytelling and showcasing disruptive innovations. The luxury shopper is now, an ever-expanding universe with audiences across various luxury access points, looking to fulfil varied and differentiated needs. You will now see a more exuberant and new age evolution of the luxury retail sector with global brands jostling for consumer’s minds space and share of wallet.

    And what steps are you taking to keep consumers coming to DLF Emporio for the next ten years?

    DLF Emporio has always been a forerunner in the luxury retail sector. We were the first to foray into luxury retail, and we have been agile enough to keep on top of our game. A decade is a long time, and we have successfully completed our milestone, replete with challenges, learnings and substantial deep dives into our customer’s buying behaviours and mindsets.

    For any brand to stay relevant it must appeal to the core interests of its customers and guests. We have kept the brands more than relevant, by offering unique experiences, the best in luxury brand offerings and superlative service experiences in a genuinely luxurious environment. We are committed to elevating our customer and brand experience with many more luxury retail disruptions in the near future.

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  • The Shoppes at Marina Bay Sands enjoys sales rise

    The Shoppes at Marina Bay Sands enjoys sales rise

    Revenue from The Shoppes at Marina Bay Sands rose 4.5 per cent during the third quarter, reaching US$44 million, according to the integrated resort’s latest results announcement. Sheldon Adelson, CEO of parent Las Vegas Sands Corp, said retail tenant sales per square foot at the shopping complex rose by 22.2 per cent during the past year.

    That, together with rising food and beverage sales (up 15.2 per cent to $53 million) and improved hotel revenues helped offset a decline in gaming takings, said to be affected by a decline in VIP playing. Third-quarter earnings were down 52 per cent to $419 million for the quarter.

    Las Vegas Sands’ regional third-quarter earnings were up by 6 per cent to US$1.28 billion, thanks to the strengthening Macau business.

    Hotel occupancy at Marina Bay was 97.5 per cent during the third quarter with an average daily rate of $466.

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  • DFS launches exclusive TIFFANY T Collection worldwide

    DFS launches exclusive TIFFANY T Collection worldwide

    DFS Group, the world’s leading luxury travel retailer, is excited to announce the launch of four exclusive Tiffany T pendants, available exclusively in DFS airport and T Galleria stores from November 1, 2018 until April 2019. Inspired by the iconic New York skyline, the new DFS x Tiffany T Collection features two pendant necklaces in 18K white gold with blue sapphires, and two pendant necklaces in 18K rose gold with pink sapphires, each with an adjustable 16-18 inch chain.

    The Tiffany T Collection embodies everything Tiffany stands for – freedom, happiness, love and strength. Designed with the letter T, as tall, true and iconic as the New York City skyline, a place of courage and reinvention that constantly sparks creativity.

    The strong, graphic form of the letter T is simplified, deconstructed and extended to form the chic necklaces with clean lines and modern angles. The Tiffany T designs are meant to complement each other; they can be boldly stacked and layered or can be worn alone for a sleek and elegant look.

    “The exclusive collection reflects the confident customer who takes a fearless approach to style and we are thrilled to partner with DFS to bring Tiffany & Co.’s signature take on luxury to travelers globally,” said Wong Wei Ling, Vice President, Asia Pacific, Tiffany & Co.

    “At DFS we continually seek to offer our traveling customers new, exclusive and memorable product selections, in partnership with some of the best-known brands in the world. We are delighted to join with Tiffany & Co. to provide first access to the beautiful Tiffany T pendant collection for our discerning customers worldwide,” said Matthew Green, DFS Group Senior Vice President, Watches and Jewelry.

    As graphic and linear as the city that defined this design, the Tiffany T collection is a timeless symbol of modernism and self-expression.

    The Tiffany T collection range will be available exclusively for purchase at DFS and T Galleria by DFS stores worldwide until April 2019.

     

    T Galleria by DFS, Hong Kong, Canton Road

    T Galleria by DFS, Hong Kong, Tsim Sha Tsui East

    T Galleria by DFS, Macau, City of Dreams

    T Galleria by DFS, Macau, Shoppes at Four Seasons

    T Galleria by DFS, Singapore

    DFS, Kansai International Airport, Osaka

    T Galleria by DFS, Okinawa

    T Galleria by DFS, Saipan

    T Galleria by DFS, Bali

    T Galleria by DFS, Angkor

    T Galleria by DFS, Guam

    T Fondaco dei Tedeschi by DFS, Venice

    T Galleria by DFS, Sydney

    T Galleria by DFS, Auckland

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  • Pandora opens fifth concept store at New Delhi Terminal 1D

    Pandora opens fifth concept store at New Delhi Terminal 1D

    Pandora has recently opened its fifth store at New Delhi Terminal 1D. This will be the third store opening in 2018 for Pandora. The brand launched its first store at DLF Mall of India, Noida in April 2017, followed by Select Citywalk in September 2017, DLF Promenade in April 2018 and Galleria Market Gurgaon in June 2018.

    The contemporary and aesthetically designed concept store is located on the ground floor of the domestic airport in the departure holding area of Terminal 1D, New Delhi. The new store carries the entire Pandora jewellery collection available worldwide, including the moments collection, the essence collection, Pandora Rose collection; the all-new 18k gold plated sterling silver-Pandora shine collection.

    Pandora has always encouraged women to empower themselves by celebrating their achievements. These collections are designed to capture life’s unforgettable moments at affordable prices.

    Speaking on the opening, Kanika Bakshi Talwar and Devika Bakshi, Managing Director, say, “We are proud to enter a different format of a concept store, our first in any airport in the country. This store will cater to a large variety of domestic shoppers outside of Delhi NCR and spread the excitement across various cities. Accessibility to our products would be easier now for travelers and we hope to expand further and provide an opportunity for all Indian consumers to acquire their Pandora products in the near future.”

    The Terminal 1D store is a medium size concept store, with all collections available in-store, and is aesthetically designed to give customers ample browsing space to make their shopping experience very comfortable in-transit.

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  • Gucci powers Kering third quarter sales

    Gucci powers Kering third quarter sales

    Kering sales growth significantly outpaced its rivals during the third quarter, up 27.6 per cent as reported and 27.5 per cent on a comparable basis, to €3.402 billion. In Kering-operated stores, Asia Pacific sales rose 33.3 per cent on a comparable basis, bettered only by North America’s 36.1 per cent increase. Growth in online sales exceeded 80 per cent and wholesale sales rose 27 per cent.

    “We are extraordinarily proud of the remarkable performances Kering delivers quarter after quarter,” said chairman and CEO Francois-Henri Pinault. “Our growth, whose pace is unprecedented in the luxury sector, is sound, well balanced and sustained across all regions and distribution channels.”

    Pinault said the company’s enduring success comes down to the talent of each of its brands in “creating strong emotional ties with its customers, conceiving a bold, generous creative universe, and reinventing its codes”.

    “Beyond short-term developments, we know that the secular growth of the luxury market, but particularly our solid fundamentals and the discipline with which we implement our strategy, will continue to support our operating and financial outperformance.”

    Gucci led Kering sales growth during the quarter, with sales up 35.1 percent and strong performance across all distribution channels, regions and product categories. Gucci Asia-Pacific sales soared 41.9 per cent.

    Yves Saint Laurent sales rose 16.1 per cent, driven by the strong performance of iconic lines and the success of new collections.

    While Bottega Veneta sales were down 8.4 per cent on a comparable basis, the label is in a transitional phase led by recently appointed creative director Daniel Lee (ex Celine). His first full collection will go on sale early next year.

    Kering’s other houses (labels) achieved a 32.3 per cent increase in sales, driven by  “exceptional momentum” at Balenciaga and ongoing growth at Alexander McQueen. New collections and extended iconic lines from Boucheron, Pomellato and Qeelin were “very well received”.

    The watches and jewellery categories delivered what the company described as “solid performances”.

  • Online jewellery brand Melorra aims Rs 40 cr revenue this fiscal

    Online jewellery brand Melorra aims Rs 40 cr revenue this fiscal

    Online jewellery startup Melorra aims nearly five times jump in its revenue at Rs 40 crore in the current fiscal on bullish demand from non-metro cities, Saroja Yeramilli, Founder and Chief Executive said Tuesday. According to a report: The company, which sells contemporary lightweight jewellery in gold, diamond and coloured stones, had clocked a revenue of Rs 8.5 crore in the first year (2017-18) of its business, she added.

    “Much of the demand is coming from non-metro cities. We are getting orders from smaller cities and adding 100 new cities for delivery every month. We expect our revenue to touch Rs 40 crore this fiscal,” Yeramilli said.

    With rise in Internet and smart phones users, the company expects revenue to touch Rs 100 crore mark in the next fiscal and start making profits from 2021 onwards, she said.

    The company’s unique selling point is affordable rates, modern designs and quality of gold and diamonds from recognised agencies, she added.

    That apart, the Bengaluru-based company does not carry any inventory as it makes gold jewellery on order and delivers to customers with a return policy in 30 days and lifetime exchange of jewellery at prevailing rates of gold.

    On investment plans, Yeramilli, who had once headed sales division at Tata group jewellery brand Tanishq, said the jewellery start-up has already raised US$ 12 million from a venture capitalist, out of which US$ 8 million has been spent on the business.

    “We still have funds. We will invest that and later look for more funds. Funding has not been a problem. Investors are keen to invest in our company,” she further said.

    Asked if the company would go offline, Yeramilli said, “There are no plans to set up retail outlets. Melorra is an internet brand and it will remain like that.”

    With 100 employees recruited at present, the company plans to expand its marketing and technology division to cater to the growing online customers, she added.

  • Kataoka’s First U.S. Store Opened

    Kataoka’s First U.S. Store Opened

    Japanese jeweller Kataoka has opened its first store in the US. In stark contrast with the firm’s 700sqft shop in Tokyo, the new 1600sqft New York flagship has been located in the trendy Tribeca neighbourhood to reflect Kataoka’s brand identity with its historic look.

    The store has been distinctively designed with a blend of Japanese and Manhattan sensibilities to convey an exotic industrial context for the brand’s delicate jewellery designs, displayed in vintage Japanese casings.

    Company COO Anis Boudraa said the company founder and designer Yoshinobu Kataoka “only wanted display cases that are antique that have a beautiful patina… they really reflect the theory of Kataoka – working with something that’s old”.

    “Our designer hates fast fashion and everything that’s related to fast consumerism.”

    The firm makes its pieces using only recycled gold, which it salvages from the Japanese semiconductor industry. All pieces are hand made.

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