Retail News CRM

Tag: Store

  • Parkson Holdings Extends Store Lease in China

    Parkson Holdings Extends Store Lease in China

    Parkson Holdings’ Beijing operation Parkson Retail Development (PRD) has extended a department store lease in the city until the end of 2021.

    PRD’s Hong Kong-based owner PRGL announced in a stock exchange filing in Hong Kong the firm has signed a new lease agreement for a 189sqm area from the China National Arts and Crafts Group in Beijing’s Fuxingmen. It has agreed to pay a quarterly rental of RMB2.5 million (US$361,800).

    The group has been conducting retail activities at the site for 20 years and this lease follows renewals of seven other leases in the same building back in February. In total, Parkson leases 23,887sqm in other areas of the museum from the same landlord for terms extending as far as the end of November 2028.

    A statement from PRGL said the operation has brought stable revenue in the past, and that the new lease brings continuity to the group’s retail efforts in a location familiar to its long-term customers.

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  • Versace to expand Asian store network

    Versace to expand Asian store network

    More stores, broader range, fewer brands as fashion icon tries to double sales. Versace will open its largest store yet in China this week, part of a concerted plan by the fashion label’s new owners to expand its footprint globally.

    Capri Holdings, which also owns Michael Kors and Jimmy Choo, bought Versace from Donatella Versace late last year for US$2.2 billion. It is now implementing a plan to double the label’s worldwide sales with at least 112 new stores scheduled by 2022 along with a refurbishment program for the existing network. The new Beijing store – details of which are scant at present – is a key step in that plan.

    Worldwide, Versace has 188 stores currently and wants to reach 300 within three years. Asia will be a big benefactor from the plan, already accounting for more than half the network. China alone has 40.

    Along with new openings and revamps of existing stores, Versace will boost its product offer, adding more handbags, footwear and leather goods to its high-end clothing range. Accessories currently account for just 35 per cent of Versace’s sales and the company wants to lift that to 60 per cent.

    “It’s very clear: The productivity in our stores is not what it should be,” CEO Jonathan Akeroyd told an investors briefing this week. He plans to double the sales per square foot across the network.

    “We need to rapidly increase productivity and this will really be the real driver to take us to our US$2 billion revenue target.”

    Versace’s marketing strategy will be revised, with less focus on fashion shows in favour of a stronger social media presence.

    The company has quietly dropped its diffusion brands Versace Collection and Versace Versus and new stores will all bear the core Versace brand name alone.

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  • Eco-friendly pop-up store Mosscape opens at Scotts Square

    Eco-friendly pop-up store Mosscape opens at Scotts Square

    Verteran horticulture company Nyee Phoe Group has opened its first pop-up store, Mosscape Concept.

    Located on the first level of Scotts Square, the 2800sqft space combines horticulture and entertainment – aptly named “HortiTainment” – blending a retail space, food-and-beverage counter and an educational zone.

    Products for sale include preserved nature installations which come in several forms such as moss, foliage, flowers and trees, sold for decorations. They have been preserved so they do not need water or sunlight, making them suitable for nature lovers who are away from home often.

    Visitors can also sign up for moss art workshops where they will be able to make their own moss terrarium.

    For dining, the store offers locally grown farm-to-fork salads and desserts.

  • Luxury CBD store opens in Manhattan

    Luxury CBD store opens in Manhattan

    A new luxury CBD store in the heart of New York City speaks volumes about where the fast-growing industry is headed as regulations are relaxed around the world.

    The 420: An Entertainment Hospitality Company has launched its first CBD-focused retail concept in Manhattan’s luxury shopping district, Soho.

    The 420: A CBD Store features a collection of premium, hand-selected products from top CBD and emerging luxury brands against a backdrop of bespoke art installations.

    “Over the next several years, our company will be taking a big stake in large-scale, cannabis-related hospitality entertainment across marquee locations throughout the world,” said The 420: An Entertainment Hospitality Company founder and CEO Robert Frey.

    “We believe CBD retail is the best place to begin to elevate the consumer experience. The space is ready for a new dimension of immersive luxury retail. We aim to provide the consumer with both established and undiscovered brands plus education through high quality seminars.”

    According to cofounder Eddie Miller, plans are already underway for six additional New York locations.

    The interior of the luxury CBD store features mid-century modern furniture, antiques and modern custom designed fixtures as well as a collection of finds acquired throughout New York City.

  • Ikea Thailand opens full E-commerce store

    Ikea Thailand opens full E-commerce store

    After two years of planning, furniture and homewares retailer believes it can match a physical store experience.

    Ikea Thailand has launched an online store, with a view to matching the journey and impression customers experience at a physical Ikea shop.

    “We see the potential – it is a potential in Thailand for Ikea,” said deputy retail manager for Ikea Thailand, Singapore and the Philippines, Lacia Sherlock. “We have only been accessible within Bangkok so far, and now we will be accessible for people from across the country.

    “The delivery prices need to be affordable and all the services need to be accessible for consumers living outside of Bangkok, so that they are able to get the assembly or whatever they need.”

    According to Sherlock, the new e-commerce platform, which is already available in Malaysia and Singapore, now covers the whole of Thailand. It took about two years to develop based on studies of market demand and building the necessary infrastructure.

    “We are pleased to now be able to provide this access to Thais. We have been wanting to do this for a long time, along with providing them with a superior experience and inspiration through both of our two Bangkok stores,” said Sherlock.

    Ikea is aiming to hit 17,000 online orders this year within the territory.

  • Changi Airport liquor & tobacco concession Open

    Changi Airport liquor & tobacco concession Open

    The Changi Airport liquor & tobacco concession is up for grabs after DFS Venture opted not to proceed with a two-year extension.

    Changi Airport Group (CAG) will launch a tender for the concession on June 4, covering 18 stores, spanning more than 8000sqm of retail space across the airport’s four terminals. It will run for six years from June 9 next year.

    CAG is seeking a strong partner with retail concepts to augment the passenger experience for the liquor and tobacco concession.

    From store design and product range, to in-store activations and e-commerce strategy, the retailer should put forth a robust and compelling proposal, leveraging new technologies and innovations, to elevate travel retail at Changi, CAG said.

    The Changi Airport liquor & tobacco concession will serve more than 66 million international travellers who pass through Changi Airport annually.

    “We look forward to new retail concepts to take the liquor & tobacco concession to new heights,” said CAG VP for commercial, Lim Peck Hoon.

    “Changi is fully committed to growing with our concession partners through impactful innovation and effective collaboration. There will be a wealth of opportunities for the liquor & tobacco partner to showcase its offerings to Changi’s global audience, delivering revolutionary best-in-class retail experiences, to build and grow its business.”

    Interested retailers will be required to attend a compulsory tender briefing and site visit scheduled on June 25. The deadline for submissions is August 5.

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  • 7-Eleven Malaysia sales stable

    7-Eleven Malaysia sales stable

    Sales and profit surge in first quarter on new stores, enhanced service.

    7-Eleven Malaysia has achieved sales growth of 9 per cent in the first quarter – and net-profit growth of 24.9 per cent.

    Same-store sales rose 6.1 per cent, the rest of the growth due to store expansion with the convenience store network now numbering 2311 stores.

    But CEO Colin Harvey says more improvement us yet to come.

    “We see opportunities for improvement and confident that our strategy roadmap of strengthening the key areas of assortment, supply chain, operational excellence, store base and digitally enabling the organisation will bear fruit in terms of financial performance and overall customer experience. We continue to look forward to the challenges ahead in ensuring that 7-Eleven remain as Malaysia’s first choice convenience store.”

    Group revenue for the quarter topped RM583.7 million (US$139 million) due to new stores, a higher average spend per customer and increased consumer promotion activity. Revenue from the food service segment of the business grew more than 30 per cent year on year, and now accounts for 3.5 per cent of the overall business.

    Harvey said the company’s board believes trading conditions for the next quarter will remain challenging.

    “We will continue to focus on our customers’ needs, pursuing our core strategy pillars of operational excellence, cost management and commercial innovation, at the same time refreshing the 7-Eleven brand in the mind of customers though refreshed stores, innovations in our pricing, promotions, and developing exciting products.”

  • Online fashion retailer Mogu reports Steep Growth Numbers

    Online fashion retailer Mogu reports Steep Growth Numbers

    Chinese online fashion and lifestyle retailer Mogu has reported an 18.7 per cent increase in gross merchandise value (GMV) for the year to March 31, to RMB17.408 billion (US$2.594 billion).

    The company’s revenue for the year reached RMB1.074 billion (US$160.1 million), an increase of 10.4 per cent year on year.

    However the number of active buyers in the year to March remained the same as the previous year, at 32.8 million.

    The company said it live-video broadcast business continued to grow strongly with associated GMV increasing 138.1 per cent year on year.

    “We delivered another quarter of solid growth,” said Qi Chen, Mogu’s chairman and CEO. “During the past quarter, we continued to expand, optimise and elevate the supply chain for our fashion ecosystem by enriching content, increasing user engagement on our live-video broadcasts, and facilitating more repeat repurchases,” he said.

    “Looking ahead, we will continue to strengthen our unique three-way fashion ecosystem by further growing our content creation community of fashion key opinion leaders and live-video broadcast hosts, elevating the fashion-product supply chain and supporting deeper collaboration between merchants and KOLs, and ultimately facilitating greater user and community engagement through rich and high-quality interactive fashion content and products.”

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  • Canon opens New Delhi flagship Store

    Canon opens New Delhi flagship Store

    Canon India has launched a flagship Canon Image Square (CIS) store in New Delhi. The flagship CIS store aims to “enrich the consumer experience for all Canon products” across segments ranging from entry-level cameras to high-end professional cameras. In addition to this, the store is also exhibiting Cinema cameras, a few leading Canon printers and a wide range of lenses.

    “Commitment towards the country and dedication of Canon, together has translated into growth over the years,” said Canon India president and CEO Kazutada Kobayashi. “With the launch of first of its kind Canon Image Square flagship store, Canon India marks another milestone to ensure an interactive and informative buying experience for our existing and potential customers.

    “CIS stores have been successful in contributing to Canon’s significant customer outreach and positioning it as a market leader. Having established its presence with more than 250 stores in 100+ cities, we take pride in being total solution providers in the imaging arena. The launch of this flagship CIS stores will certainly raise the benchmark for customer service,” he said.

    “The new flagship store is fashioned in such a way that it creates a sweeping experience for the customers with the gamut of cameras including cinema cameras, lenses and complete imaging solution in order to make the right choice of the products,” said Canon India VP consumer imaging & information centre Eddie Udagawa. “The store also features some of the leading printers that have been delighting the consumers.

    “New Delhi is one of the key markets for us, not just in terms of the customer base but also for being abreast with the technology trends that influence other markets. We look forward to receiving great feedback from our customers and add value to their imaging experience.”

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  • Second Apple Taiwan store about to Open

    Second Apple Taiwan store about to Open

    Apple Taiwan is to open its second store, in Taipei’s Xinyi District.

    The firm is in the early stages of planning, although has released an image of the intended look of the new store that resembles its Chicago flagship.

    Apple’s first official store in Taiwan opened in the Taipei 101 mall, although the majority of its products are sold via its online channel and through local authorized resellers.

    Comments online following the announcement suggested significant hopes that Apple will next open an official store outside Taipei.

    Apple Taiwan issued a teaser image of the new store (above), a rare move for the company, which rarely reveals details of store developments to the press.

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  • China is experiencing a convenience-store Expansion

    China is experiencing a convenience-store Expansion

    China is experiencing a convenience-store boom.

    Nearly 12,000 new convenience stores were opened on the mainland last year, according to the China Urban Convenience Store Index, an increase of 18 percent.

    The index, released by the China Chain Store and Franchise Association, showed that new convenience stores took up 62 percent of all new openings in the territory. Around two-thirds of these were opened under a franchise arrangement.

    Typically, franchised convenience stores in China show a return on investment at the two-year mark.

    While first-tier cities are thought to have reached saturation point in terms of convenience-store market penetration, the field remains open for second and third-tier cities.

    “There is a big potential for more regional players to deepen their market penetration,” said secretary general of the China Chain Store & Franchise Association Peipei Liang, adding that hypermarket operators are now turning to smaller-scale and community stores for a new growth point.

    Association figures show that the top 100 chain stores reached sales of CNY240 billion (US$34.9 billion), and an increase of 7.7 percent on the previous year’s results. These players also benefited from a 55.5 percent increase in online revenue.

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  • VinMart Vietnam opens first virtual store

    VinMart Vietnam opens first virtual store

    Vietnamese supermarket chain VinMart claims to have opened Vietnam’s first virtual store.

    Run by VinGroup’s subsidiary VinCommerce, the new concept is being tested in 20 locations, including apartments, office buildings, schools and at bus stops, both in Hanoi and Ho Chi Minh City.

    Each store provides images and QR codes of more than 100 product groups for customers to scan and order via VinID app. The products will be delivered within two to four hours.

    VinMart launched the Scan&Go function in its app in March, applying it in 73 supermarkets across the country.

    Customers can also shop via VinMart’s printed shopping manual or online.

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  • Danish fashion label Hummel Opening in India

    Danish fashion label Hummel Opening in India

    Hummel India has signed up a Bollywood actor to help promote its launch in the country.

    Kartik Aaryan, described by one local media outlet as “the nation’s heartthrob and nation’s crush” has been appointed Hummel’s chief ambassador in India for the Danish sportswear label.

    Founded in 1932, Hummel produces clothing ranging from swimwear to casual streetwear and sneakers. It has already opened five stores in India and plans another 10 by the end of the financial year.

    The first five stores are franchised and have opened in Bengaluru, Pune, Chennai, Surat and Amritsar.

    Aaryan made his debut for the brand at a recent launch event in Bangalore.

    “In Hummel, I see a perfect fit. Hummel appeals to my style sensibilities, it is bold, fashionable, creative and youthful,” the actor told the audience.

    “I am excited that Hummel has entered the retail space and I am sure that the Indian audience will love the designs that Hummel has brought to India.”

    Soumava Naskar, MD of Hummel India, says the brand’s merchandise was available on Jabong and Myntra in 2016 but the company stopped selling directly to both the platforms in 2017 because it had no pricing control.

    “Three months ago, we listed our merchandise on Amazon and Flipkart via our partner ND Commerce, which manages our online stores and handles pricing control too. Which means, if customers receive discounts on our end-of-season products on Amazon or Flipkart, they will receive the same discounts in our physical stores as well. This is our first promise to Indian customers.”

    Hummel, owned by Thornico Group, is currently sold in more than 35 countries. It has more than 250 mono-brand stores and expects to achieve US$1.5 billion in turnover this calendar year.

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  • Sigma chairman Resigns after remuneration protest

    Sigma chairman Resigns after remuneration protest

    Brian Jamieson, chairman of Sigma Healthcare, has said he intends to step down within the next 12 months after shareholders protested the remuneration report at Sigma’s annual general meeting on Wednesday.

    Shareholders delivered an 18 percent vote against the report during the meeting, while also opting to re-elect Jamieson, as well as David Manuel, as directors.

    The vote signalled shareholders’ frustration over Sigma’s decision to reject a takeover offer by rival healthcare business Australian Pharmaceutical Industries, as well as a protest against the remuneration report itself, which included bonuses for board members in a year that has seen Sigma’s share price fall from 80 cents per share in June 2018 to 53 cents per share.

    “This has been a defining year for Sigma,” Jamieson told shareholders at the business’s AGM.

    Over the course of the year, Sigma walked away from a supply contract with Chemist Warehouse Group, causing a major fall in the business’s share price hasn’t been recovered.

    Sigma also walked away from the proposed merger with API, which Jamieson told shareholders was “somewhat opportunistic, with Sigma at its most vulnerable” after dropping the Chemist Warehouse Group supply contract.

    “To agree to proceed may have been the easy decision, but our detailed analysis supported our view that it was not the right decision for mid to long-term shareholder value,” Jamieson said.

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  • India’s Nappa Dori Opening Store in UK

    India’s Nappa Dori Opening Store in UK

    Indian luxury handcrafted-bags and luggage retailer Nappa Dori has launched in London.

    The firm’s 1400sqft location in Seven Dials on Monmouth Street is its first in Europe, adding to its seven-store network in India and an outlet in the Maldives. It features an in-store cafe serving traditional beverages such as chai tea.

    “The high volume of tourists and locals who frequent the stylish streets of Seven Dials made it the obvious choice for our first UK and European venture,” said Nappa Dori founder Gautam Sinha.

    “This opening reflects the increase in brands selecting this unique West End destination for debut UK and European stores,” said Shaftesbury senior retail portfolio manager Addy Williams, “following in the footsteps of leading brands such as Away and Beast.”

    Nappa Dori has previously engaged in collaborations with Kiehl’s and Qatar Airways, among other partnering businesses.

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