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Tag: Store

  • Global Brands in talks with Alibaba, JD.com

    Global Brands in talks with Alibaba, JD.com

    Global Brands Group is discussing a possible “strategic alliance” with Chinese eCommerce companies Alibaba and JD.com.

    The two e-tailers are declining to comment on the matter, but based on comments by Global Brands CEO Bruce Rockowitz, Bloomberg reports the alliance “could involve online sales of brand-name children’s wear, among other products, through Alibaba’s Tmall and JD.com, and co-operation offline”.

    Rockowitz said a formal announcement is likely later this year.

    “We are working with JD and Alibaba on a strategic alliance, joint venture,” he said. “It’s a relationship or joint venture together that can create a solution online, offline and mobile that none of us can do by ourselves.

    “Both of them want to do something. They don’t have the content, just platforms, but they want to go to the next level.”

    The comments came in the wake of Global Brands’ first full year results announcement earlier this week when it reported stronger margins as it continues to shed non-performing brands in favour of higher end products.

    Last December, Global Brands announced a joint venture with David Beckham and his business partner Simon Fuller. The joint venture, Seven Global, focuses on the continued development of the brand around David Beckham as well as on creating large scale brands in partnership with a select number of high‐profile sports and entertainment icons. The venture will cover all major consumer product categories.

  • Dalian Wanda shutters stores

    Dalian Wanda shutters stores

    China’s Superstar days are over.

    Hong Kong listed retail group Dalian Wanda is to close down China’s largest karaoke chain Superstar, a victim of the mainland government’s mission to discourage excessive spending on entertainment and gifts.

    The company has also flagged the closure of an unspecified number of its department stores due to tough competition from online retailers, eating into store sales volumes.

    Some Chinese news media are reporting as many as half of the company’s 90 department stores could be shuttered, but the company remains vague.

    “China’s consumer behaviour is undergoing significant changes, inevitably hurting some large-scale retailers,” said Qu Dejun, president of Dalian Wanda subsidiary Dalian Wanda Commercial Properties.

    Before the Chinese government’s clampdown on entertainment expenses, karaoke parlours were popular destinations for government officials and businessmen entertaining clients and contacts.

    Qu said Superstar would close because the chain’s profits were now very thin due to “national policy”.

    Taiwan karaoke chain Cashbox Partyworld has already trimmed back its mainland karaoke network.

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  • 7‑Eleven, Inc. to enter Vietnam with Seven System Vietnam Co. Ltd. franchise agreement

    7‑Eleven, Inc. to enter Vietnam with Seven System Vietnam Co. Ltd. franchise agreement

    7‑Eleven, Inc., the world’s largest convenience retailer with 56,400 stores worldwide, has signed a master franchise agreement with Seven System Vietnam Co. Ltd. to develop and operate 7‑Eleven® stores in Vietnam. The expansion marks the company’s first stake in the Pacific Rim since 7‑Eleven entered Indonesia in 2009.

    7‑Eleven’s entry into the country aims to enhance the convenience-shopping experience for Vietnamese customers and contribute to modernizing small retailers in the world’s 13th most populous country.

    The new master franchisee plans to construct 7‑Eleven stores, convert existing locations to the 7‑Eleven brand supported by enhanced infrastructure, and eventually franchise operations to local businesspeople.

    Internationally popular products like Slurpee® frozen carbonated beverages and Big Gulp®soft drinks, as well as immediately consumable fresh foods, with recipes developed for regional tastes, will be part of the convenience offerings.

    7‑Eleven and its parent company, Seven-Eleven Japan, will provide start-up support for its newest master franchisee by assisting Seven System Vietnam in implementing 7‑Eleven’s successful strategies of market concentration, team merchandising and item-by-item management.

    Vietnam will be the 18th country or region where 7‑Eleven stores operate. In addition to the United States, other countries include Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China (including Hong Kong), The Philippines, Australia, Singapore, Malaysia, Indonesia, Norway, Sweden, Denmark and the United Arab Emirates, where its first 7‑Eleven store will open early this autumn.

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  • Orchard Rd rents slide gains momentum

    Orchard Rd rents slide gains momentum

    Retail rents on Singapore’s prime retalstrip, Orchard Rd, slipped by 1.6 per cent in the latest quarter.

    But worse is yet to come according to Colliers International in its quarterly review of Singapore retail rents, tipping a full year decline as high as five per cent.

    The average monthly gross rent for Orchard Rd retail space fell to S$35.25 per sq ft in Q2 2015 from S$35.83 per sq ft in the previous quarter. That 1.6 per cent drop follows a 0.9 per cent fall in the first quarter, showing the decline is already gaining momentum.

    Colliers says Orchard Rd rents are being dragged down by tougher competition from suburban malls which are drawing locals away from the heart of the city.

    And an apparent oversupply of space on the fringe of Orchard Rd is unlikely to be helping either.

    Complicating the picture is spirited competition for domestic and visitor spending.

    In contrast, prime rents in the city state’s regional centres were steady at S$33.94 per sq ft.

    “The retail property sector has continued to experience attrition, with reports on closure of shops and certain malls in Orchard Rd suffering from poor shopper traffic and pedestrian footfalls,” Colliers’ deputy MD Calvin Yeo said.

    “However, given the demand for more retail variety by an increasingly more affluent consumer base, new-to-market F&B and retail operators continue to set up shops in Singapore. This has helped to shore up occupancy rates of retail malls and cushion rental falls.”

    Colliers says while a five per cent decline in Orchard Rd rents is likely this year, rents in regional centres could grow by up to one per cent, based on current trends.

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  • Xiu.com confirms model enlargement

    Xiu.com confirms model enlargement

    On-line luxurious trend retailer Xiu.com says it’ll use its recent $30 million capital injection to attach extra western manufacturers with internet buyers in China.

    Xiu.com lately raised $30 million in collection C funding, led by personal fairness firm Pacific Enterprise Companions, a deal reported by Inside Retail Asia on Might 19, however solely formally introduced in the previous few days.

    Launched in 2008, Xiu.com sells worldwide branded trend merchandise, together with clothes, cosmetics, luggage, jewelry, footwear and homewares.

    “As an online-fashion main firm, Xiu.com operates superior logistic networks that cowl Europe and the US,” stated Ji Wenhong, founder and CEO.

    “Working instantly with established worldwide corporations, Xiu.com might supply quite a lot of Worldwide model merchandise and supply Chinese language shoppers in-season trend merchandise with lower cost than these in different markets.”

    “We’re very assured in Xiu.com after we studied the Chinese language eCommerce market for a very long time,” stated Tan Changwen, a associate in PVP.

    “We’ll help Xiu.com’s strategic improvement, particularly in growing its efforts of cellular e-commerce and expansions in Asia markets.”

    Regardless of Chinese language shoppers tending to buy luxurious items once they journey overseas, Xiu.com discovered that Chinese language at the moment are displaying extra willingness to buy luxurious items on-line.

    Greater than 600 abroad corporations, together with Salvatore Ferragamo, Blue Nile, and Hugo Boss, are partnering with Xiu.com, and almost 200 of them promote solely on Xiu.com to Chinese language internet buyers.

    Greater than 10 million shoppers have registered with Xiu.com and greater than 85 per cent of orders come from repeated consumers. The typical order worth is US$240.

    Xiu.com will use the funds to consolidate its worldwide provide chain community and to take a position into the venture of connecting offline shops in western nations with internet buyers.

    “We assist shops in western nations promote their inventories on Xiu.com,” Ji stated. “We might improve our product choices quickly, whereas shoppers may benefit from extra alternatives for new-arrival merchandise.”

    The Shenzhen based mostly firm additionally plans to make use of the funds to organize its forthcoming IPO.

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  • German soccer big opens on Tmall

    German soccer big opens on Tmall

    European soccer powerhouse FC Bayern Munich has opened a flagship retailer on Tmall.com, China’s largest B2C purchasing web site.

    The membership, Germany’s newly topped champion, is promoting jerseys and different fan merchandise on to Chinese language shoppers via a collaboration with Tmall International, Tmall’s cross-border options supplier, and DHL eCommerce, in line with a press launch from the businesses.

    DHL eCommerce, a part of DHL, the world’s main logistics firm, will present worldwide supply providers and handle a part of FC Bayern Munich’s merchandising in China, working with Tmall International on product itemizing, order administration, achievement of orders, native distribution and returns, native customer support and market entry help.

    By opening a Tmall flagship retailer, FC Bayern Munich joins British membership Liverpool, in addition to America’s NBA basketball and NFL soccer leagues, as sports activities organisations that use the location to faucet China’s giant and rising base of followers. The German membership has an estimated 90 million followers on the mainland.

    “Making our fan merchandise accessible is essential to attach with our followers in China,” stated Bayern Munich Chairman Karl-Heinz Rummenigge in a press release.

    Jörg Wacker, FC Bayern Munich’s government board member, internationalisation and technique, added that the nation is vital to the membership’s efforts to succeed in followers worldwide and “for our market entry in China, Tmall International is the perfect platform since lots of our followers already use the platform at present. Along with our strategic companion DHL, we’ll guarantee a quick supply.”

    Tmall.com is a part of e-commerce big Alibaba Group, which operates China’s largest online-shopping marketplaces with some 350 million Chinese language customers.

    Jeff Zhang, president of China Retail Marketplaces for Alibaba, referred to as the addition of FC Bayern Munich’s unique flagship retailer to the Tmall platform “an important step in our European technique”.

    FC Bayern Munich is likely one of the world’s largest soccer golf equipment with over 255,000 members and in addition one of the crucial profitable having gained 5 Champions League titles, three Membership World Cup trophies in addition to 25 nationwide championships.

  • Microsoft Malaysia builds phone store network

    Microsoft Malaysia builds phone store network

    Microsoft Malaysia will convert 39 Nokia retail stores into a network of Microsoft authorised reseller smartphone shops.

    The company’s GM of mobile devices sales for Malaysia, Singapore and Brunei, Bruce Howe, revealed the plan during the opening ceremony of the first Microsoft Malaysia store at the Suria KLCC shopping centre in downtown Kuala Lumpur.

    Malaysia is the first country in the Asia-Pacific region to see the new telco store format and the conversions are scheduled to be complete by the end of the year.

    “This transition is a big leap for our brand besides giving opportunity in terms of scaling up the retail footprint and widen the Microsoft range in Malaysia,” he said at the launch..

    Microsoft Malaysia chief marketing and operation officer Rukmani Subramaniam described the launch as a “significant development” for the brand.

    “We get feedback from Microsoft customers that its hard to find Microsoft stores in Malaysia, so we ran this transition to give more chances for them visit and learn how to make the most of Microsoft technology,” she said.

    Microsoft, the world’s largest computer software company, acquired the Finnish Nokia telecommunications technology company’s devices and services division business in April 2014, forming a wholly owned Finland-based subsidiary Microsoft Mobile Oy. That company has the rights to use Nokia branding on some phones, but not on the popular Lumia range, which is now sold as a Microsoft handset.

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  • Xiniya Fashion axes 685 stores

    Xiniya Fashion axes 685 stores

    Chinese menswear chain Xiniya Fashion culled 685 stores last year as part of a major restructure to restore profits.

    It says it opened 180 new retail outlets and closed 864 plus one flagship outlet.

    The result was a 38.4 per cent decline in revenue to RMB813.1 million (US$131 million), compared with RMB1.32 billion in 2013.

    It posted a net loss of RMB170.7 million ($27.5 million), compared with a net profit of RMB97.2 million in 2013.

    Fourth quarter revenue was down 58.6 per cent

    “We continued to focus on stabilising our retail network during the quarter as China’s economy enters a period of slowing growth and the menswear industry faces a crisis of excess capacity and intense competition,” said Qiming Xu, Xiniya’s chairman and CEO.

    “We completed the first phase of our inventory buyback from our distributors during the quarter. Remaining flexible and adaptable is key to the future success of our strategy. We will continue to monitor our distributors and authorised retailers closely during the next phase, and may implement appropriate initiatives accordingly.

    “We are making every effort to sell the remaining inventory, which is mostly composed of more recent products, through our retail network by offering discounts and promotions over 2015.

    “We also implemented a number of cost cutting initiatives such as reducing advertising and promotional expenses during this transition stage. I am confident that these initiatives and changes to our business model will further strengthen our brand’s popularity and allow us to weather these difficult and unpredictable times.”

  • India’s Big Bazaar opens 100th store

    India’s Big Bazaar opens 100th store

    India’s Big Bazaar is now present in more than 100 cities in India. The last store to be opened by the retail chain last December was the Rourkelo store in Orissa.

    In the last three months prior to the opening of its newest store, Big Bazaar also opened 17 new stores across the country, in cities like Jharsugda, Bhopal, Varanasi, and Bokaro.

    To celebrate its 100th city milestone, Big Bazaar held the “100 cities Celebration” last month in all Big Bazaar outlets, offering as much as 50 percent discounts in various product categories like kitchenware, home furnishings, fashion apparels, and electronics.

    “Our strategy has been to understand the art of doing business in India, while putting in the best practices in Science of retailing. This has helped us customize a complete experience for our customers,” Sadashiv Nayak, CEO Big Bazaar, said in a news release.

    Big Bazaar said it has a loyal customer base of over 2.5 crore (25 million). These customers are part of its various loyalty programs like, Payback, T24 Mobile and Big Bazaar.

    The retail chain is the flagship hypermarket retail chain from Future Group, with  has over 184 stores across the country.

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  • Inditex acquires New York property for new Zara store

    Inditex acquires New York property for new Zara store

    A new Zara store will rise in Inditex’s newly acquired 4,400-square metre commercial property in the heart of New York’s SoHo Cast Iron Historic District, one of the world’s best known shopping districts.

    The new store, to be located in a building at 503-511 Broadway, between Broome and Spring Streets, complements recent flagship store openings by Inditex in the US market.

    The company said it has invested USD280 million to acquire the property, but its store opening strategy remains focused on leased properties, while the commercial thrust is still to further enhance the integrated store & online sales model.

    “This opening marks a very significant milestone in the Group’s US growth strategy,” said Inditex’s Chairman & CEO, Pablo Isla. “The growth model for the US market consists of a combination of flagship store openings and online sales growth underpinned by strong support from American shoppers.”

    By the end of 2015, including the stores on Broadway on the Upper West side, at 666 Fifth Avenue and 750 Lexington Avenue, Zara will have eight stores in Manhattan as well as another seven in the greater metropolitan area.

    As for the overall US market, Inditex plans to open over a dozen new Zara stores in 2015 in major cities such as New Jersey, Las Vegas, Los Angeles, San Diego, Boston, Sacramento, Houston, Dallas, Chicago, Seattle and Puerto Rico.

  • Tmall global sales increase 10 times in 10 months

    Tmall global sales increase 10 times in 10 months

    China’s largest e-commerce group Alibaba said on Monday transaction size at its overseas shopping division Tmall International added more than 10 times since its initial launch in February this year.

    By the end of November this year, as many as 5,400 overseas brands from 25 countries and regions have opened official marketplace at Tmall. Among them, 30 Tmall stores have recorded transaction of more than CNY10 million (USD1.6 million).

    Foreign retailers such as Metro AG are also planning to open their official stores on Tmall early next year.

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