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Tag: Store

  • India’s WoodenStreet eyes 15 stores by end of 2019

    India’s WoodenStreet eyes 15 stores by end of 2019

    In 2016, WoodenStreet entered the retail market with its first brick-and-mortar experience store in Bangalore. Established in 2015 as an online platform for quality custom furniture, WoodenStreet expanded its reach by opening 2 stores in 2017 and 9 stores in 2018, totalling to 12 experience stores. What’s next? 15 new experience stores by the end of 2019.

    Lokendra Ranawat, CEO, WoodenStreet expressed his aim to bring customization and quality a step closer to everyone’s home. “It’s not just about an online presence”, he elaborates, “but getting down there and interacting with our customers makes buying furniture a more personal experience, as it should be. We want people to not just visualize, but also feel the quality of furniture that we offer. We want them to see the limitless configurations, combinations and customization possibilities that they can actually get for themselves.”

    2018 was a long but fruitful year for WoodenStreet. Mumbai and Jaipur stores have been established in the last quarters of 2017, and the overwhelming response from these two stores, combined with a financial push from US$ 1 million Series A funding from RVCF, hardened the resolve to expand into further cities. Hence came the first stores of Ahmedabad, Hyderabad, Chennai, Pune, Noida, Gurgaon and Indore, with two more stores in Bangalore and Jaipur. This set up a large Omnichannel network, enabling greater penetration into the furniture market with a promise of quality and flexibility.

    “Last year was challenging but fun.”, says Virendra Ranawat, COO of WoodenStreet.com, commenting on the rocking journey. “But this hasn’t stopped us. We want to ensure that 2019 sees the addition of 15 more stores to our ever-growing roster. Which means that by the end of this year, we’ll have 27 brick-and-mortar stores in total.”

    WoodenStreet.com is a custom furniture store, with more than 30 delivery hubs and 12 experience stores spread across India, bringing quality solid wood furniture and the flexibility of customization closer to people and their dream of setting up a home flavoured to their tastes.

  • Japanese megastore Don Quijote to open its first Hong Kong store

    Japanese megastore Don Quijote to open its first Hong Kong store

    Don Quijote Hong Kong is set to make its debut in the middle of this year. The Japanese discount merchandise retailer – which has three stores in Singapore and also plans to make its Thai debut in Bangkok this year – has leased a 15,000sqft space in the basement of Mira Place Two on Nathan Road in Tsim Sha Tsui.

    In Japan, most of the company’s 160 discount stores trade 24 hours, but this is unlikely in Hong Kong.

    Helen Mak, senior director and head of retail services at Knight Frank said the basement location would appeal to local consumers and tourists.

    “Don Quijote’s Tsim Sha Tsui location can attract mainland tourists who travel via the high-speed rail and mega bridge. Instead of shopping for luxury items, these same-day visitors usually spend money on cosmetics, health care items and food, products that are most celebrated at [Don Quijote].”

    According to the SCMP, Don Quijote will pay HK$1 million (US$127,000) a month for the space, with the fitout expected to be complete by July.

    Besides its general merchandise and fresh food offer, the Don Quijote Hong Kong store will feature a cafe.

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  • Tissot basketball concept store New York opens door

    Tissot basketball concept store New York opens door

    Swiss watch brand Tissot has opened a sports-themed store in New York City. The Tissot basketball concept store is the brand’s fourth boutique in the city, located at 112 W. 34th Street, a prime location in the Midtown neighbourhood. With a 2800sqft area, the boutique has a wall of multi-coloured basketballs, along with action-styled mannequins wearing uniforms of some of the brand’s nine NBA team partners.

    Hung on the walls are photos of the brand’s sponsored athletes, including three-time NBA Champion and five-time NBA All-Star Klay Thompson, four-time NBA Champion and six-time NBA All-Star Tony Parker and top rookie Trae Young.

    Besides shopping, fans can spend their time playing NBA 2K19, watch an NBA game on the large TV screens or try to beat the clock in a mixed-reality Tissot Buzzer Beater game set to debut at NBA All-Star 2019. A custom art installation debuting at NBA All-Star will then find its permanent home in the store.

    “This is a departure from our traditional merchandising strategy, but with our continued partnership growth and passion around the NBA, we wanted to harness that power to showcase our brand in a different light,” said Francois Thiebaud, president of Tissot.

    “We have seen a tremendous response so far from fans and we are excited to see what is to come.”

  • Ikea services foray boosts loyalty and sales

    Ikea services foray boosts loyalty and sales

    Ikea is turning to services to increase turnover and boost engagement with customers. Moreover, partnering with specialist companies in such areas as delivery and assembly allow it to focus on product design and sales, leaving post-checkout experiences in the hands of specialists, rather than committing its own staff and training resources. An example of the new Ikea services initiative is US odd-jobs app TaskRabbit, which Ikea bought in late 2017. Ikea recommends the service to customers who lack the time or patience to assemble their own kitset furniture products.

    Ikea reports that the number of jobs handled by TaskRabbit staff since it acquired the business had doubled and 10 per cent of the jobs undertaken are now assembling kitset furniture – five times the pre-purchase rate.

    Since the acquisition, TaskRabbit has expanded coverage to all 48 US cities with an Ikea store, launched in Toronto, Canada, and expanded in the UK beyond London.

    In Hong Kong, where few customers own cars, Ikea now offers both a delivery and assembly service with fixed fees according to location. Previously, it partnered with an app-based third party contractor.

    In Australia, Ikea has partnered with Airtasker and in India with UrbanClap, to offer assembly services.

    Reuters describes the Ikea services strategy as “a major strategic shift that it has been forced to adopt to stay in the game as waves of new competitors in an increasingly online world erode its dominance”.

    TaskRabbit’s quick success is prompting Ikea in the US to consider expanding services offered through Ikea, to include such tasks as interior design and furniture repair which would in turn potentially boost sales from stores.

    Jesper Brodin, CEO of Ingka Group, which owns most US Ikea stores, says TaskRabbit’s customer data could also help Ikea come up with new ideas for furniture.

    “As this community grows, it’s not only about fixing one or two things but actually to add professionalism in interior decoration, into ‘life at home’ practicalities,” Brodin said in an interview.

    “TaskRabbit is a super interesting business case because it is scalable, not only geographically but also into services at home.”

    GlobalData Retail MD Neil Saunders says a services foray could help Ikea boost its market penetration in the US, which is currently just 2 per cent. Despite the low market share, the US represents Ikea’s second-largest international market behind Germany, where it enjoys as 12 per cent share. Rivals like Walmart and Wayfair in the US have started offering assembly through TaskRabbit’s rival app Handy.

    Brodin wants TaskRabbit to expand into more countries.

    “We are convinced this is a way to access new customers in our cities. The convenience customer today has so many more choices, and they are used to getting a quick answer.”

  • Officine Panerai makes debut in Malaysia

    Officine Panerai makes debut in Malaysia

    Officine Panerai Malaysia has opened its first store. The Italian luxury watchmaker’s new boutique is the brand’s 81st worldwide and fourth location in Southeast Asia, forming part of Panerai’s strategy to boost its market in the region. It was designed by Spanish architect Patricia Urquiola to depict Panerai’s naval and wartime heritage.

    “Together with partner Swiss Watch Gallery, we look forward to providing an exceptional experience for our clients and conveying our values and Swiss know-how”, said Panerai Southeast Asia and Oceania MD Giacomo Cinelli at the launch.

    “It’s a little exhausting for the local watch collectors here to keep having to travel to a Panerai boutique, so we are here for our existing clients and we provide an entrance and platform for the new ones as well”, he said.

    Submersible timepieces feature prominently in the store’s range, retailing from RM57,700 (US$14,180) to RM168,470 ($41,400).

  • Uniqlo opens Manchester flagship, expands beyond London

    Uniqlo opens Manchester flagship, expands beyond London

    Japanese retail chain Uniqlo is expanding its store network internationally, announcing the opening of its latest store in the UK. Opening in the city of Manchester, Uniqlo is returning the British city after leaving Manchester back in 2004, not long after it entered the UK market. Uniqlo revealed the news this week on its Instagram: “Uniqlo Manchester – opening spring 2019. Tokyo heads up North. Register for updates on our Manchester store opening at the link in bio.”

    The post also gave location details, revealing the store is slated for Manchester Arnadale at 57 Market Street. The address is the former-space of closed down UK retail chain BHS, which shuttered on Market Street in August 2016, after 35 years of service on the city’s main shopping strip.

    The new store will occupy a 22,690 square feet and will sell Uniqlo’s full range of core items for men, women and kids, as well as jeans and t-shirts.

    The retailer said that the expansion north of London was an important step in its UK growth.

    “The launch of Uniqlo in Manchester represents another major milestone for us in the UK, as we continue to expand our presence in this important market for the company worldwide,” Uniqlo chief executive Taku Morikawa said.

    “We are very excited to be able to offer Uniqlo LifeWear to the people of Manchester and surrounding areas for the first time and show how our high quality, comfortable and functional clothing can help improve their everyday lives.”

    It is hoped that Uniqlo Manchester will fair better than BHS, and in turn compete strongly with fellow fast-fashion brands Primark and H&M, which are currently set up in the millennial-heavy city.

    Uniqlo first launched 20 stores in the UK, but then closed 15 sites outside of London three years later, including two in Manchester.

    It currently operates nine stores across London, one in Kent at Bluewater shopping centre and another in Oxford at Westgate.

    In its most recent earnings update, Uniqlo Europe said that in the year up to August 31, 2018, profits rose from €673,000 to €6.3million on a turnover of €533million, up from €410million.

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  • Vogue opens first Tokyo wedding dress salon

    Vogue opens first Tokyo wedding dress salon

    International fashion magazine Vogue has opened its first wedding dress salon. Facing Aoyama Kotto-dori in Tokyo’s Omotesando district, the salon has hired specialist staff to offer tasteful suggestions not only with regard to dresses and accessories but also extending to hair, makeup and photography services.“The biggest single keyword for contemporary today’s weddings is ‘diversification of values’”, said Vogue Wedding creative director Mayumi Nakamura. “Now is a time for brides who embrace different values to rejoice in their individuality.

     

    “At Vogue Wedding Salon, in addition to traditional wedding dresses, we have prepared a wide variety of more adventurous styles. These items include stunning bridal gowns from popular designer brands that will be familiar to readers of Vogue such as Alexander McQueen, Giambattista Valli, Oscar de la Renta, Sergio Rossi, and so on. I hope that at Vogue Wedding Salon you will enjoy choosing a stylish dress that is not bound by existing rules.

    View the gallery below (4 images) :

    In addition to traditional wedding dresses, visitors can expect to encounter a variety of fashionably styled modern dresses selected by Vogue and created by top international designers based in the world’s fashion capitals beginning with Paris, New York, Milan, and London. Visitors will find a lineup of popular luxury bridal gown brands, as well as a selection of brands that are available exclusively from Vogue Wedding Salon.

    The salon is also equipped with a photo space where aspiring brides and grooms can take advantage of Vogue’s wedding photography services.

    In addition to wedding dresses, an extensive range of eveningwear and luxury brand shoes and accessories are available. The salon can also offer customers a luxury shoe brand custom order service.

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  • D&G opens boutique in Osaka Japan

    D&G opens boutique in Osaka Japan

    Luxury brand Dolce & Gabbana has opened a new D&G Osaka store. The two-level, 905sqm #DGLovesOsaka boutique at Midosuji is designed to reflect the unique local features of Osaka while still representing the brand’s heritage, with red marble and pink onyx finishings touched off by pink rugs and wallpaper. A large baroque-styled mirror is a centrepiece of the decor.

    The #DGLovesOsaka boutique stocks ready-to-wear collections and accessories for men, women, and children.

  • HMV saved by Sunrise Records, but some stores will close

    HMV saved by Sunrise Records, but some stores will close

    Canadian firm Sunrise Records has emerged as the buyer of collapsed music chain HMV, beating competition including Sports Direct owner Mike Ashley. The firm will buy 100 stores out of administration, securing 1,487 jobs. But 27 stores will close, resulting in 455 redundancies. Sunrise Records chief executive Doug Putman said he was “delighted to acquire the most iconic music and entertainment business in the UK.”

    No price was given.

    Canadian entrepreneur Mr Putman, 34, bought the retail chain Sunrise Records in 2014. He previously bought HMV’s Canadian business in 2017, expanding his small chain into a national operation with 80 outlets.

    Mr Putman is also President of Everest Toys, the largest toys and games distribution company in North America. He said that HMV was a “fantastic, heritage brand”. He also said the chain would be looking to stock more vinyl records, in response to customer demand.

    HMV owner Hilco, which took the company out of its first administration in 2013, has blamed a “tsunami” of retail challenges for the latest collapse.

    These include business rate levels and the increasing use of streaming services to deliver music and movies.

    HMV sold 31% of all physical music in the UK in 2018 and 23% of all DVDs, with its market share growing month by month throughout the year.

    However, the music industry expects physical entertainment sales to shrink by another 17% this year.

    Will Wright, partner at KPMG and joint administrator said: “We are pleased to confirm this sale which, after a complex process, secures the continued trading of the majority of the business.

    “Our immediate concern is now to support those employees that have unfortunately been made redundant.”

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  • French bakery Brioche Doree to debut in India

    French bakery Brioche Doree to debut in India

    French Bakery Brioche Doree on Saturday launched its first store in India in partnership with HR Bakers, promoted by Haldiram Managing Director (MD) Ashish Agarwal. The store is in Connaught Place. “Internationally acclaimed Parisian French Bakery Brioche Doree launched its first exclusive store in India with HR Bakers at Connaught Place, New Delhi,” the statement said.

    According to a HR Baker statement, the Haldiram MD entered into a “master franchise agreement” with the French brand.

    “Brioche Doree is known to be the second largest bakery/cafe chain in the world. The store of the brand in India has been curated in 100 percent vegetarian avatar,” it said.

    Agarwal has invested about Rs 4-5 crore in the brand and said HR Bakers is open to exploring more synergistic tieups with other brands.

    Agarwal said four more outlets in the National Capital Region and other markets are expected in the first year of operations.

    The outlet has started serving delicacies French Bakery is known for.

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  • Marks & Spencer India to open six more stores in next 60 days

    Marks & Spencer India to open six more stores in next 60 days

    British multinational retailer Marks & Spencer (M&S) is on an aggressive pace here and is opening six more stores in the next two months alone, a top company official has said.

    According to a report, Marks & Spencer has opened its first store here way back in 2001 and in April 2008 signed a joint venture agreement with Reliance Retail to form Marks & Spencer Reliance India.

    It now has 71 stores across 30 cities like New Delhi, Amritsar, Mumbai, Pune, Kolkata, Bangalore, Chennai, Kochi, Bhopal, Kanpur, Hyderabad and Chandigarh among others.

    “India has become increasingly an important market for us. We are now the largest market for M&S outside of our home market. We are 71 stores today and we continue to invest in this market. We opened nine stores in the last six months and it is our intention to open six more in the next 60 days,” James Munson, managing Director, Marks & Spencer Reliance India said in an interview.

    Internationally, Marks & Spencer hawks its products in 57 markets across 400 stores and an online presence in 33 markets.

    Munson further said they would look to maintain that expansion pace in the next year as well and said, “there are no other markets which are expanding the way we are expanding here”.

    Of the 71 stores here, 10 are standalone beauty and lingerie stores , including two it opened in the last nine months and said half of the stores it plans to open in the next 60 days would also be for the same.

    The company clocked a revenue of Rs 908 crore last year and has been growing at a CAGR of 24 percent over the last five years, Munson said.

    It had clocked a 9 percent growth in the same store sales last year.

    A fifth of the turnover comes from outside the major metros, he said.

    It sources 30 percent of its products from locally and India is a sourcing base for the wider British market as well.

    M&S has partnered with other e-commerce players like Amazon and Flipkart over the last few years and he said its a strong area of growth and this year they are expecting 75 percent growth in online sales.

    However, the contribution from online to its revenues is still quite small here, unlike in Britain where it’s targeting 30 percent online sales.

    M&S has developed a rethink campaign specifically for this market, a first globally where a campaign has been designed for the local market.

    In Britain, food is a popular segment for the company but Munson said there are no plans at present to introduce food here.

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  • Starbucks India to add around 10 stores this fiscal

    Starbucks India to add around 10 stores this fiscal

    Starbucks, a 50:50 joint venture between Tata Global Beverages and Starbucks Coffee of the US, is planning to add up to 10 new stores in the next two months, taking the total count to around 145 outlets, said a top company official. According to a report, the premium coffee chain is increasing the number of roll outs as it is getting overall good consumer response, said Tata Global Beverages (TGBL).

    “We currently have around 136 stores and we would open another between 5 to 10 stores by the end of the year (fiscal). We have seen an increase in the store roll out. We look at activating more stores roll out in the next few years, what we have seen in the past,” L Krishnakumar, CFO, TGBL Group said.

    Tata-Starbucks has recently started food delivery through online food aggregator apps like Swiggy.

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  • Nintendo launches flagship store in Tokyo

    Nintendo launches flagship store in Tokyo

    Nintendo is opening a Tokyo flagship store, marking the iconic Japanese company’s first-ever domestic retail outlet. During Nintendo’s latest Corporate Management Briefing, the president of the Nintendo, Shuntaro Furukawa, announced the game company would be opening a store in the Japanese capital in 2019.

    The executive said that plans are set for Nintendo Toyko to be located in the tentatively named ‘Parco’, which is yet to be opened and will bow in the Shibuya district. The Nintendo store in Japan will have its own floor in a new department store and is targeted at teens and commuters.

    “We are hoping [the store] will be a new point of contact between consumers and Nintendo that a wide range of people, regardless of age, gender, or experience with games can enjoy,” explained Furukawa.

    The new store also hopes to attract shoppers to Nintendo Switch, which is struggling to draw a wider swath of users, according to Bloomberg. Last month, Nintendo cut its shipments forecast for the console, which can be used at home or on the go.

    “In addition to selling products such as video game systems, software and character-based merchandise, we plan to host events and offer opportunities to play games, and are preparing to make this shop a new base for communicating Nintendo information in Japan. We will announce further details on each of these initiatives at a later date.”

    Looking forward, Nintendo is also planning to open exhibits at Universal theme parks in Osaka, Orlando and Hollywood.

    Additionally, the company is looking to participate in more e-sports tournaments, where gamers get together and compete in stadiums

    Nintendo opened its first store in New York as Pokemon shop in 2005 in the city’s Rockefeller Centre, and has since rebranded as Nintendo New York.

    Nintendo Tokyo is scheduled to open in the fall of 2019.

  • Decathlon opens Singapore megastore

    Decathlon opens Singapore megastore

    French sports chain Decathlon opened its largest store in Singapore late last month, as the European retailer continues to build upon its popularity in the Asian market. Dubbed ‘Decathlon Singapore Lab’, the new experience store is located at Stadium Boulevard and covers 5,000 square metres of retail space, making it the biggest Singapore store. It is also opened 24 hours.

    In addition to Decathlon’s inventory of sports apparel, footwear and accessories, the new ‘Lab’ boasts a series of ‘experiential’ features including an indoor area of four different running surfaces wherein shoppers can test running shoes before purchasing, as well as a hiking path with a gravel surface for the testing products in-store.

    At a media briefing last month, Decathlon Singapore chief executive Yves Claude said the store has been named Decathlon Singapore Lab “because a lab is a disruptive and innovative place where we test new solutions.”

    The store also hosts an Active Health Lab in partnership with Sport Singapore, where users can take a free health assessment and there are free-to-play areas next to the store as well.

    To speed up the delivery process for shoppers, Decathlon has established an in-house conveyor built that transports products as soon as they are ordered online. Shoppers can also order online and collect their items at their preferred store within two hours for free.

    “We have to give new reasons for customers to come back to our store,” added Claude.

    The store is the latest in a string of ‘Decathlon Experience’ stores being rolled out across Singapore and is the fourth in the nation’s offering.

    Decathlon also has a 4,000-square-metre showroom in Joo Koon and two click-and-collect stores.

    In May last year, Decathlon signed a memorandum of understanding with Sport Singapore, which marked the announcement of this new Decathlon in Kallang.

    “We share a common purpose, which is to make sport accessible. They come with a good price point, high-quality products, (and) most importantly, they come with ideas on how to improve participation,” said Lim Teck Yin, Sport Singapore CEO.

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  • V-Mart reports 27 percent growth in topline, reaches 200-store milestone

    V-Mart reports 27 percent growth in topline, reaches 200-store milestone

    V-Mart Retail, India’s leading value fashion retailer,  announced its unaudited financial results for the quarter and nine months ended 31st Dec,2018 whichwere approved by the Company and Board of Directors at its meeting held on 5th Feb, 2019. The company posted robust numbers for the third quarter, recording 27 percent YoY growth in revenue from operations, 15 percent increase in EBITDA and same store sales growth (SSSG) of 11 percent. The quarterly revenue and EBITDA stood at Rs 4658 million and 733 million, respectively, up from Rs 3680 million and 640 million in the previous year. The strong topline growth was also mirrored in PAT, which at Rs 417 million, delivered 14 percent YoY growth.Festive season shopping – comprising Durga Puja, Diwali and Chhath – in the company’s main geographic markets was the primary growth driver for the quarter. In the 69-day duration from 6th Sep – 13th Nov spanning the three festivals, the company registered overall and like-to-like growth of 49 percent and 27 percent, respectively. This was achieved through revamped product assortment, supply chain, and marketing and sales strategies that the company executed effectively. The company has invested in ramping up its warehousing capacity and strengthening the talent pool at all levels.

    Riding on the back of healthy numbers in Q3, V-Mart continued to strengthen its performance for the fiscal year. On a YTD basis, revenue stood at Rs 10,892 million for the nine months ended 31st Dec, growing at 18 percent YoY, while EBITDA and PAT, at Rs 1127 and Rs 625 million, grew at 3 percent and 1 percent, respectively.

    Commenting on the company’s performance in Q3, Lalit Agarwal, CMD, said “There has been a great execution of fresh product ideas and customer connect which was amplified by strong festive demand in all our markets. V-Mart was well prepared and well-positioned to tap into this opportunity in all its key markets, delivering its value fashion promise with a wider and deeper assortment that resonated with the fashion aspirations of our customers. Launch of stores in Assam and Meghalaya further added the growth momentum for the company and the company witnessed its best ever Durga Puja sales during the quarter especially from the Bengal region. We thank all our valued customers for their trust and belief in V-Mart and look forward to their continued support.”

    While driving a strong execution focus during the festive season, the company maintained its consistent pace of retail network expansion, reaching the 200-store milestone in December. V-Mart opened 10 new stores during thequarter, andon a YTD basis, has added 29 stores with more launches planned in the last quarter. While the company took 12 years to open its first 100 stores, the journey to the next 100 has taken less than 3 years. Looking ahead, the company is building a strong pipeline of locations for targeted store expansion in the next fiscal year.

    For the upcoming Spring-Summer 2019 collection, the company shall be launching a new range of Indigo collection denims, camouflage, high fashion t-shirts, joggers, ladies tops, salwar suits, gowns, solid woven skirts for girls and kurti’s along with a new kids summer collection. The launch of summer collection and the special marriage range, with an emphasis on vibrant colors and silhouettes willgive shoppers a wide choice of fabricsand form key customer-centric highlights of the next quarter.

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