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Tag: nike

  • The coolest men’s sneakers from Paris Fashion Week

    The coolest men’s sneakers from Paris Fashion Week

    Paris Fashion Week Men’s was not lacking in head-turning street-style looks this year. Attendees brought their sartorial A-game to take in new fall ’19 collections from the hottest designers. A guest paired trendy Off-White socks with shiny silver Maison Margiela sneakers that featured a chunky platform sole and an iridescent finish. Cuffed denim jeans highlighted the pairing perfectly.

    Elsewhere, a guest showed off J.W. Anderson’s new Converse collab sneakers, which feature a rubber jagged platform sole. The high-tops debuted on the catwalk at Anderson’s spring ’19 show.

    Meanwhile, Adidas x Alexander Wang Turnout Mint White runners caught our attention with its chunky midsole design, a mash-up inspired by several previous Adidas sneakers.

    The Nike x A-Cold-Wall Zoom Vomero +5, designed by Samuel Ross, undeniably stands out with its enlarged heel counter. The style, which dropped in November, blends retro and futuristic elements.

    Lastly, the oversized red and white contrast leather sneakers by Alexander McQueen, which Timothée Chalamet has worn on the red carpet, of course, made an appearance at fashion week.

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  • Brands planning to cash in on rising menswear trend

    Brands planning to cash in on rising menswear trend

    This week, Nike launched its new collection of yoga wear for men. While this was the company’s first foray into men’s yoga apparel, the move was very much in line with competitors who have been making a push into the menswear apparel market recently. Lululemon, whose bread and butter has long been women’s yoga trousers, is one of those competitors. Former CEO Laurent Potdevin described menswear as one of the brand’s “best-kept secrets.” The company is now looking to grow this division into a billion-dollar business.

    Gap also jumped on the bandwagon last year, with its new casual menswear brand Hill City. But a push into menswear stretches beyond the athletic wear market – Madewell rolled out menswear in September, Saks Fifth Avenue recently closed its womenswear store in Brookfield Place but kept its menswear location open, sisters Mary-Kate and Ashley Olsen launched their own menswear collection for fashion brand The Row last year, and the list continues.

    These brands are all looking to capitalise on a big change in fashion, and that is that in the not too distant future, menswear may outgrow womenswear.

    Business intelligence firm Gartner L2 estimated that in just two years, revenue growth of men’s clothing will surpass that of women’s clothing. This data is backed up by Euromonitor International, which estimated that men’s lines will outperform women’s over the next six years. 

    “Fashion has always been about women but men are finally having their time,” says Lizzy Bowring, catwalk director at trend-forecasting agency WSGN.

    Bowring believes that the rise of a young, fashion-conscious male consumer is a key reason for this. “It’s the younger men that are driving the push for menswear,” she says. “These men are more savvy and aware, and there is a lot of competition to look the part.”

    Ayako Homma, beauty and fashion consultant at Euromonitor International, echoed these thoughts in an email.

    “One key trend is men’s changing perception of fashion. Men are spending more time, effort and money on their grooming and appearance,” she wrote.

    Experts say that this peak in menswear can be traced back to a boom in streetwear clothing, which has been driven by brands such as Supreme, Yeezy, and Off-White. These brands have experienced explosive growth in recent years and are considered to be redefining the fashion landscape.

    These labels have been embraced by luxury players, a move that has in turn given new life to some of the luxury brands.

    Louis Vuitton recently hired industry pro Virgil Abloh to become its new artistic director. Abloh is responsible for setting up perhaps the buzziest streetwear brand of all, Off-White, which was recently ranked the hottest label in the world.

    “The men’s business has exploded in the past five years,” Roopal Patel, fashion director of Saks Fifth Avenue said. Patel said the focus had shifted to bringing in newer menswear-focused labels such as Off-White.

    “We’ve gone from just category addressing to designers looking at how they’re going to wardrobe a man’s lifestyle, everything from work to evening to weekend to sport,” she said.

    Industry insiders say this trend is here to stay. “It’s more than a buzz. It’s a deeper trend,” said Sidney Toledano, head of LVMH’s fashion group. He continued: “There’s strong demand across the men’s fashion industry, in all its shapes and forms, and which comes in part from a younger clientele. We see it very clearly in the sales.”

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  • Nike appoints new Converse CEO

    Nike appoints new Converse CEO

    In the week leading up to Christmas 2018, Nike Inc. said it has recruited a new leader for its Converse brand, naming G. Scott Uzzell as its president and chief executive officer, to helm the heritage sneaker company in the New Year. Uzzell replaces Davide Grasso who has decided to retire at the end of this calendar year. He will report directly to Michael Spillane, President, Categories and Product, Nike Inc.

    Effective January 22, 2019, Uzzell’s new appointment comes at a time when the brand is setting “the stage to move into new spaces by reconnecting to its heritage in sport,” according to a press release in December from Nike Inc.

    “Scott’s unique blend of experience driving both strategic business growth and strong brand development is well-suited to help unlock the full potential of the Converse Brand and lead its next phase of growth globally,” said Michael Spillane, President, Categories and Product, Nike Inc.

    Uzzell comes to Converse from The Coca-Cola Company, where he most recently served as President, Venturing & Emerging Brands Group (VEB).

    As head of Coca-Cola’s VEB Group, the consumer goods executive led a portfolio of high-growth brands for The Coca-Cola Company, including Honest Tea, ZICO Coconut Water, Fairlife Milk and Suja Juice.

    Uzzell began his career within sales and marketing for companies such as Procter & Gamble, Coca-Cola and Nabisco, before returning to Coca-Cola in 2000 in the Strategy & Planning division. Since then, he has held a number of leadership positions across its business including McDonald’s U.S. Division, Global New Business Development, Global Marketing, ZICO and VEB.

    In addition, he is a member on the boards of State Bank and Trust Company; Fairlife and Suja Juice Company, as well as being a member of the Florida A&M University Foundation Board and is part of the Executive Leadership Council (ELC).

    Founded in 1908, Boston-based Converse is today owned by Nike. Converse shoes are sold globally in over 160 countries.

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  • Nike Korea blooms and upgraded its employees

    Nike Korea blooms and upgraded its employees

    Nike Korea’s revenue is forecast to exceed 1 trillion won ($884.27 million) in 2018. If all goes as expected, it will be the first sportswear company in Korea to achieve that milestone. Nike’s annual revenues in Korea have been rising by around 10 percent annually for the last two years, while competitors have only experienced average growth of 3 percent.

    Its sales have been strong across the board, both online and offline. But sales at the 15 company-owned offline stores were particularly strong, with revenues rising over 20 percent annually over the past two years.

    What’s behind the success? The company believes it was the decision to give permanent-employee status to its irregular workers.

    “Our company’s performance greatly improved after we upgraded irregular workers to permanent employees,” said a public relations officer at Nike Korea.

    Between November 2015 and May 2016, Nike Korea converted 654 of its irregular employees at company-owned stores to permanent employees.

    Prior to that, it had only had 310 permanent workers. The 654 new regular employees earned 20 percent more in wages after the change and gained access to a range of benefits, including tuition assistance for children. Labor costs for Nike Korea rose around 10 percent in total as a result of the move.

    Employees say that their new status as permanent workers made them more dedicated to the company.

    “Before, I used to say I work at a store when asked about my job, but now that I’m a regular employee, I confidently say I’m working for Nike Korea,” said 25-year-old Cho Hye-rim who works at a Nike outlet in Gimpo, Gyeonggi. “With a new sense of belonging and loyalty to the company, I began feeling a stronger sense of responsibility when dealing with customers.”

    “When I first heard that I was going to be a regular employee, I had to pinch my cheeks to check whether I was dreaming or not,” said 34-year-old Hwang Hyun-woo, who works at a Nike store in Myeong-dong, central Seoul. “With my experience working in sales at the store, I plan to try out an office job at the company headquarters as well.”

    Very few companies in Korea have converted irregular employees to permanent employees on the same scale as Nike.

    Exceptions include Homeplus, which converted around 1,000 cashiers and store assistants into regular workers this year, and SPC Group, which directly hired 800 workers from subcontracting firms.

    At Nike, the campaign to offer permanent-employee status to irregular workers was led by CEO David Wook-hwan Song, 48, after he took the top office at Nike Korea in 2015.

    He worked with the U.S. headquarters to achieve the transition.

    “I expected that performance would naturally improve if employees came together as a team and developed the pride and confidence that comes with being part of Nike, one the world’s best companies,” said Song.

    Song, who immigrated to Canada in his last year of high school, was hired by Nike Korea in 1994.

    He also earned an MBA from Harvard Business School and worked briefly at McKinsey.

    Last year, Nike included Seoul in its list of 12 key cities for growth.

    Seoul is Nike’s third-highest earning city after New York and LA.

  • Clot x Air Jordan XIII Low release date revealed

    Clot x Air Jordan XIII Low release date revealed

    International brand and retailer CLOT’s Air Jordan XIII pays tribute to co-founder and creative director Edison Chen’s youth, which he spent between Canada and Hong Kong. Chen chose to work on the Air Jordan XIII because it was his go-to during his high school basketball career — and remains a favorite shoe.

    To honor his Chinese heritage, he drew from a recent visit to Lintong county, Shaanxi province, where the Terracotta Warriors statues have remained for more than 2,000 years.

    To replicate the oxidation of that terracotta earthenware, the CLOT x Air Jordan XIII Low uses a Sepia Stone, Terra Blush and Canteen colorway.

    The design of the padded upper mirrors the armor worn by the Terracotta Warriors.

    Subtle nods to MJ come through in the side panel, where dots on each tile appear in twos and threes. To finish it off, metallic gold CLOT and Jordan Brand logos appear on the tongue, heel and sole.

    The CLOT x Air Jordan XIII Low releases exclusively at Innersect Shanghai, China, on December 8, followed by a global release December 13 at Juice Stores.

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  • Esprit appointed new chief product and brand officer

    Esprit appointed new chief product and brand officer

    Struggling fashion retailer Esprit has tapped a former Burberry and Tommy Hilfiger executive to become its chief product and brand officer. Mia Ouakim will take up the new role – a crucial post in the brand’s turnaround plan – in February, reporting to the group CEO.  She will be responsible for managing the product creation and design of all product divisions, as well as the consistent execution of the brand strategy across all product divisions and consumer touch points, according to Esprit in a stock exchange filing.

    Ouakim’s experience spans corporate strategy, product design, merchandising, planning and development, brand and communication, and distribution gained from luxury and premium fashion brands. Her most recent role was senior VP of Tommy Hilfiger menswear and tailored, overseeing the brand’s menswear division globally. Prior to that, she served as VP at Tommy Jeans, formerly known as Hilfiger Denim (Women & Men) between 2014 and

    2017 where she had full business responsibility of the denim division globally.

    Before joining Tommy Hilfiger, Ouakim held various roles with Burberry, working in product, merchandising and design roles for childrenswear between 2006 and 2014. Before that, she was with Children Worldwide Fashion in the UK, responsible for brand, communication and public relations of various luxury and premium brands, including Burberry, Timberland, Kenzo, Nike, Elle and DKNY childrenswear.

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  • Nike appointed two new leaders

    Nike appointed two new leaders

    Nike Inc is bolstering its executive management with its two latest hires. The U.S. sports giant has announced earlier in the month that Carl Grebert, currently the Vice-President, General Manager of the Global Jordan Brand, will become the company’s new Vice-President, General Manager of its Asia Pacific and Latin America (APLA) geography, effective December 1.

    In his prior role at Jordan, Grebert worked for 18 months and drove the basketball brand’s global product engines and marketing, merchandising, and oversaw Jordan category management teams for the brand, pushing the business into a position for the next phase of growth.

    Before Jordan, Grebert headed up the Japan geography team as Vice-President, General Manager of Nike Japan.

    He has also held senior roles in marketing and ran territory business units in Europe.

    Grebert replaces Ann Hebert, who will become the new Vice-President, Global Sales, after working as APLA head for two and a half years.

    Hebert will be responsible for driving Nike’s global sales teams and partnering with Nike Direct “to build a seamless Nike network that will continue to elevate service to consumers around the world,” said Nike in a statement.

    She replaces Mike Best, who has decided to retire after a nearly 30-year career stint at Nike.

    Likewise, Hebert has been at Nike for 23 years and served in various leadership roles.

    Prior to her APLA role, the Nike veteran was VP of the Global Nike Direct Partner business and led the North America sales team as the VP, North America Sales.

    Both new management roles will report to Elliott Hill, Nike’s President of Consumer and Marketplace.

     

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  • High tech Nike NYC store opens

    High tech Nike NYC store opens

    Nike opened its newest Nike House of Innovation overnight, a 68,000sqft, six-storey store on Fifth Avenue.

    Nike NYC is described by the sportswear brand as a cross-category premium store, “the pinnacle expression of modern retail, representing the best of Nike global product, experiences and sport innovation”.

    “Nike NYC is designed to be a dynamic store environment, that is just as personal and responsive as digital,” said Heidi O’Neill, Nike Direct president. “This premium destination gives consumers an authentic, immersive and human connection to the Nike Brand.”

    The store is packed with technology, interactive experiential features and zones for both professional athletes and amateurs.

    Nike NYC uses the Nike App to create digitally connected journeys for consumers to discover, learn about and find the products they want quickly and easily. New and expanded Nike App in-store features include Shop the Look, Instant Checkout and updated functionalities with Scan to Try which the company says will give consumers greater opportunity to shop in-store displays, checkout in-store or request to try-on items throughout the store.

    The store is planned as something of a testbed for Nike’s digital service offerings which will “continue to evolve … giving NikePlus members even more choice in their shopping journey”.

    “Powered by digital commerce data and inspired by Nike’s newest retail concept, Nike Live, the ground floor of Nike NYC features the new Speed Shop – offering on-the-go access to the products local members know and love most,” the company said.

    Consumers can shop these curated New York City favourites alongside seasonal picks, visit the Nike Sneaker Bar or reserve items in the Nike App and pick them up in the Speed Shop digital lockers.

    On the fifth-floor is the Nike Expert Studio – the company’s first dedicated floor to provide even more personal service to NikePlus members, including bookable sessions with Nike Experts and the Nike by You Studio, offering members-only exclusive seasonal products, one-on-one styling sessions and even create personalised products.

    Nike NYC features separate product floors for men, women and kids. On the fourth floor is the Nike Sneaker Lab, billed as home to the largest concentration of seasonally current Nike footwear anywhere in the world.

    The entrance to the store – dubbed the Nike Arena – showcases the most immersive seasonal and sport-inspired storytelling moments from the brand.

    The store’s exterior features slumped and carved glass designed to “reflect and create motion that mirrors the movement of athletes”, elevates the Nike Swoosh logo and reflects “the iconic aesthetic of Nike Air”.

    Technology at Nike NYC

    Here’s a quick rundown of the new and existing technology featuring in the new flagship:

    Shop the Look: By scanning a QR code on an in-store mannequin, consumers can browse every single item on the mannequin, check to see if their size is available in-store or online and see available colours. Then with just a tap, they can request for select products to be sent to a fitting room of their choice or receive the items from a store athlete at a designated pick-up spot.

    Nike Instant Checkout: Using Nike Scan, NikePlus members can skip the line and easily checkout from within their Nike App using stored or new payment methods. Members can scan the product(s) of their choice, check out like a traditional Nike App purchase and receive their payment receipt within the app. Nike Instant Checkout stations are positioned throughout Nike NYC so that shoppers can fold and bag products if they choose before leaving the store.

    Nike Scan to Try: While this technology was released earlier this year it has now been refined and expanded. After discovering any product in the store and scanning the item to learn more, shoppers can now simply tap “request to try-on” for various items. Requested products can then be collected at designated pick-up areas in Nike NYC, or they can be reserved to a fitting room location of the consumer’s choice.

    Nike Reserve: Using the Nike App, NikePlus members can reserve product at home to pick up in store. They can shop the product they want in the Nike App and then complete their purchase with an in-store athlete or with Nike Instant Checkout.

    Retail Home: When entering Nike NYC, members will gain access to an array of new features and content via their Nike App homepage.

    NikePlus Unlocks: NikePlus Member Unlocks are delivered through the Nike App to reward the best of Nike product, to deliver immersive brand experiences, to award activity achievements and to share partner rewards with members. Member Unlocks can be given directly from a Nike Expert in-store or targeted to consumers based on their sport and style interests. Select Member Unlocks may also be delivered to consumers outside of Nike NYC, which they can redeem in-store with an athlete.

    Product Concierge: If a product is unavailable in Nike NYC, an in-store staff member can search inventory across the entire marketplace – online or offline in Nike-owned stores, as well as its reseller network. If found, and available to ship or reserve, customers can have the item held at a local store or have it delivered. This service will be exclusively available on the fifth floor Nike Expert Studio Service Desk.

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  • US sports apparel firm mulls ditching China for Vietnam

    US sports apparel firm mulls ditching China for Vietnam

    U.S. sports apparel company Brooks Running is considering shifting its manufacturing operations from China to Vietnam to avoid trade war tariffs. The firm’s CEO Jim Weber said Monday that the impact of President Donald Trump’s trade war with China is going to put a 45-percent tariff on his company’s running shoes.

    “We’re preparing for a 25 percent tariff on our business and that’s on top of 20 percent already on running shoes. It’s really going to be upsetting for us,” Weber said.

    Vietnam will be a “possible” new supply chain for Brooks, Weber said, adding that the transition will likely cost “millions” of dollars.

    Weber said he was confident that the move will allow his company to be more competitive in the U.S. and in the world as the tariffs are lower in Vietnam.

    He added that the transition, if it happened, would likely to be permanent.

    The U.S.-China trade war escalated last month as the U.S. levied new tariffs of 10 percent on about $200 billion worth of Chinese products, with the tariffs to go up to 25 percent by the end of this year.

    China retaliated immediately with 5 and 10 percent tariffs on $60 billion worth of U.S. products.

    The announcement by Brooks, which sells sports footwear, apparel, bras and accessories in 50 countries worldwide, came after Adidas CEO Kasper Rorsted said in May that his company is shifting footwear sourcing from China to Vietnam.

    Vietnam has in fact overtaken China as Adidas’ top supplier, with Vietnamese factories producing 44 percent of its shoes by volume last year against 19 percent by Chinese manufacturers, according to the company’s data.

    This is also true of Adidas’rival Nike, which had 46 percent of its footwear made in Vietnam last year, against 27 percent in China.

    Vietnam’s footwear exporters seem to be benefiting from the ongoing trade war.

    In the first nine months this year, Vietnam’s footwear exports were worth $11.74 billion, a 10.2 percent year-on-year increase.

    Vietnam is the second biggest exporter of footwear to the U.S. behind China, shipping 404 million pairs of shoes last year.

    Last year, Vietnam’s footwear exports were worth $14.65 billion.

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  • Vietnam footwear exports benefit from US-China trade spat

    Vietnam footwear exports benefit from US-China trade spat

    Vietnamese footwear exporters seem to be benefiting from the ongoing trade war between the U.S. and China. According to customs statistics, Vietnam’s footwear exports in the first nine months of this year were worth $11.74 billion, a 10.2 percent year-on-year increase. Its exports to China in the period have risen by 28.5 percent, to Japan by 14.7 percent, and to the U.S. by 13.5 percent.

    Vietnam is the second biggest exporter of footwear to the U.S. behind China, shipping 404 million pairs of shoes last year.

    The upward trend is likely to continue, too, as rising wages in China increase the cost of goods produced there and the country is thus directing more of its manufacturing resources toward higher-priced goods like electronics, according to the global footwear news outlet Footwearnews.

    Foreign companies are moving to other countries like Vietnam to cut cost.

    Adidas CEO Kasper Rorsted said last May that his company is shifting sourcing of footwear from China to Vietnam.

    Vietnam has in fact overtaken China as its top supplier, with Vietnamese factories producing 44 percent of its shoes by volume last year and Chinese manufacturers supplying 19 percent, according to Adidas.

    This would help shield the company from potential tariffs or supply chain disruptions if President Donald Trump’s trade war with China continues to escalate, a fact its competitors also seem to be taking notice of.

    Vietnam may see export orders surging as footwear importers shun China to avoid high U.S. tariffs and choose the Southeast Asian nation instead, local media quoted Diep Thanh Kiet, vice chairman of the Vietnam Leather, Footwear and Handbag Association (Lefaso), as saying.

    “Vietnam’s leather and footwear export can reach $19.5 billion or slightly higher this year depending on the situation,” he said. Vietnam’s footwear exports were worth $14.65 billion last year.

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  • Nike’s new House of Innovation in Shanghai

    Nike’s new House of Innovation in Shanghai

    Nike unveiled its first “House of Innovation”, located in Shanghai.

    The new store concept celebrates the brand’s innovations with rotating art installations, workshops, lectures and digitally-led trialing sessions. It also offers visitors exclusive products and collectibles that can’t be found anywhere else.

    On its website, Nike defined the retail space as “cross-category”, “consumer-focused” and “hyper-local”.

    Located in the Nanjing East Road shopping district, the store occupies four floors, spanning over more than 41,000 square feet.

    Access to the Nike Expert Studio, located on the top floor, is restricted to members of the brand’s membership club, NikePlus. There, they have access to even more exclusive items, personalized product picks and private sessions with athletes. NikePlus members can also have one-on-one sessions with a designer to customize select shoes by adding dip-dye, embroidery and other embellishments.

    The sportswear giant intends to launch several Houses of Innovation around the world, with a second store opening planned for New York City this fall. The company did not disclose where future shops will be located.

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  • NIKE, Inc. reports fiscal 2019 first quarter results

    NIKE, Inc. reports fiscal 2019 first quarter results

    NIKE, Inc. has reported fiscal 2019 financial results for its first quarter ended August 31, 2018. For the quarter, double-digit revenue growth was driven by the continued success of the Consumer Direct Offense, which fueled growth across all geographies as well as wholesale and NIKE Direct, led by digital.

    “NIKE’s Consumer Direct Offense, combined with our deep line up of innovation, is driving strong momentum and balanced growth across our entire business,” said Mark Parker, Chairman, President and CEO, NIKE, Inc. “Our expanded digital capabilities are accelerating our complete portfolio and creating value across all dimensions as we connect with and serve consumers.”

    Diluted earnings per share for the quarter were US $0.67, an increase of 18 percent driven by strong revenue growth, gross margin expansion, selling and administrative expense leverage, and a lower average share count, partially offset by a higher effective tax rate.

    “We are delivering stronger global growth and profitability than we anticipated entering this fiscal year,” said Andy Campion, Executive Vice President and Chief Financial Officer, NIKE, Inc. “While foreign exchange volatility has increased, our underlying currency-neutral momentum continues to build as we transform how NIKE operates, drives growth and creates value for our shareholders.”

    First Quarter Income Statement Review

    – Revenues for NIKE, Inc. increased 10 percent to US $9.9 billion, up 9 percent on a currency-neutral basis.

    Revenues for the NIKE Brand were US $9.4 billion, up 10 percent on a currency-neutral basis driven by double-digit growth internationally and in NIKE Direct, strong momentum in North America, and growth in almost every category led by Sportswear.

    Revenues for Converse were US $527 million, up 7 percent on a currency-neutral basis, mainly driven by growth in Europe and Asia.

    – Gross margin increased 50 basis points to 44.2 percent primarily due to higher average selling prices, favorable full-price sales mix and margin expansion in NIKE Direct, partially offset by higher product costs.

    – Selling and administrative expense increased 7 percent to US $3.1 billion. Demand creation expense was US $964 million, up 13 percent primarily driven by sports marketing investments, brand campaigns and key sports moments. Operating overhead expense increased 5 percent to US $2.1 billion driven by investments in capabilities to drive the Consumer Direct Offense, particularly in NIKE Direct and global operations.

    – The effective tax rate was 14 percent, which reflects the new U.S. statutory rate and implemented provisions of the U.S. Tax Cuts and Jobs Act.

    – Net income increased 15 percent to US$1.1 billion driven primarily by strong revenue growth, gross margin expansion and selling and administrative expense leverage while diluted earnings per share increased 18 percent from the prior year to US $0.67 reflecting a 2.5 percent decline in the weighted average diluted common shares outstanding.

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  • Nike’s China sales booms in latest report

    Nike’s China sales booms in latest report

    Booming sales by Nike China helped the sportswear giant record a 10 per cent rise in global revenues in the first quarter.

    Footwear sales in greater China soared 26 per cent, apparel sales by 23 per cent and equipment sales by 8 per cent. Combined sales growth for the region was 24 per cent, from US$1.11 billion last year to $1.38 billion this year.

    Nike China profit rose 27 per cent to $502 million, while combined Asia Pacific and Latin America sales rose 7 per cent to $1.27 billion.

    “Nike’s consumer direct offense [program], combined with our deep line up of innovation, is driving strong momentum and balanced growth across our entire business,” said Mark Parker, chairman, president and CEO at Nike.

    “Our expanded digital capabilities are accelerating our complete portfolio and creating value across all dimensions as we connect with and serve consumers.”

    Revenues for the company’s Converse division rose 7 per cent to $527 million, mainly driven by growth in Europe and Asia.

    Net income increased 15 per cent to $1.1 billion driven primarily by strong revenue growth and improved gross margin.

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  • IconSiam Bangkok due to open November 9

    IconSiam Bangkok due to open November 9

    Bangkok’s massive IconSiam development will open on November 9, its developers have confirmed.

    The US$1.67 billion complex being constructed on a 400-metre-long stretch of the Chao Phraya River will feature 14 flagship stores of internationally renowned brands, many of them taking space in the ultra-luxury 25,000sqm glass pavilion called IconLuxe, located next to the river and featuring the longest pillarless glass facade in the world.

    The development will be home to two shopping centres, whose tenants will include 188 brands and store concepts from around the world making their debut in Thailand, including duplex maisons for luxury brands.

    IconSiam CEO Supoj Chaiwatsirikul says IconSiam will represent “a completely new business model for destination development” in Thailand.

    “We are committed to making IconSiam a new national landmark and an exciting global destination. We have therefore placed particular emphasis on becoming the location of choice for the flagship stores of the world’s finest brands as well as introducing many firsts and innovations at the various outlets.”

    The development will comprise a 750,000sqm mega-destination featuring not only two shopping precincts, but theme parks, a museum, hotel and apartment towers.

    “IconSiam will excite visitors with a rich diversity of offerings, including art and culture, in addition to extraordinary dining and shopping possibilities,” said Chaiwatsirikul. “The project is co-designed and co-activated in collaboration with enterprises of all sizes and with people from all walks of life, and the benefits of the project are shared among all parties.

    “We have made every participant in IconSiam – whether they be outlets selling products, or designers and artists showcasing their creations, or even neighborhood communities helping in our operations – an inseparable part of our business model and they play a part in shaping our development.”

    Flagships line up

    Flagship stores at IconSiam will include the largest Adidas Original store in Asia, H&M-owned fashion label Cos, an Aland lifestyle concept store from Korea, and local accessories brand Naraya. H&M will open a three-level store.

    UK retailer JD Sports will open its first Thai store at the development and Nike’s store will be the first in Asia with a Kicks Lounge.

    The retail development is anchored by Thailand’s first Takashimaya department store from Japan which plans to introduce 170 brands into the market for the first time.

    Details have yet to be released about world-class restaurants and a rooftop bar planned for the complex. Besides those, IconSiam will feature seven food and beverage zones, each with a different atmosphere and concept. Tenants will include Singapore’s Jumbo seafood restaurant and Taiwan’s Harbour restaurant.

    Fitness First will open its largest Thai venue yet.

    Opening festival

    Chaiwatsirikul says IconSiam has budgeted THB1 billion (US$31 million) on an opening and launch festival, including extensive international communications.

    “Because IconSiam will be a showcase for the very best that Thailand has to offer and serve as a platform to propel Thai brands, products, artists, artisans and Thai culture onto the global stage, we are investing heavily to make IconSiam globally visible. We want IconSiam to be a magnet for the country, capable of drawing hundreds of thousands of international and local visitors a day, and to bring honour to Thailand,” he said.

    Meanwhile, the development’s two luxury residential towers remain under construction. The 70-floor, luxury Magnolia Waterfront Residences with 379 residential units is 90 per cent complete, while the 52-floor, super luxury The Residences at Mandarin Oriental Bangkok with 146 units is 80 per cent complete.

    IconSiam is being developed by three Thailand companies: shopping centre operator Siam Piwat, which owns Siam Center, Siam Paragon and Siam Discovery; residential developer Magnolia Quality Development Corporation; and multinational conglomerate Charoen Pokphand Group.

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  • Nike drops matching “Qixi Festival” editions

    Nike drops matching “Qixi Festival” editions

    Nike is celebrating China’s Qixi festival, taking place this Friday, 17 August, with a duo of Classic Cortez Nylon colorways for Men and Women.

    The special edition pack features two colorways inspired by the “Dusk till Dawn” Chinese folklore of Niulang and Zhinu. The Chinese Valentine’s Day celebrates the yearly reunion of the couple, banished to the opposite ends of the Sliver River, on the seventh day of the seventh lunar month through a bridge formed by magpies.

    The Men’s edition features a gradient “Dark Obsidian” hue and the Women’s version a “Flash Crimson” wash, each boasting galaxy stars to represent the fading sky of the summer night. The constellation of Vega (Zhinu star) and Altair (Niulang star) are printed on the heel counter in glow-in-the-dark ink, while a tongue tab branded with “Today is the Day” rounds out the limited edition pair.

    Nike’s Classic Cortez Nylon “Qixi Festival” pack will launch exclusively in China on August 18 via Nike’s SNKRS app and select retailers.