Retail News CRM

Tag: VF Asia

  • Bespoke Club celebrates new flagship store

    Bespoke Club celebrates new flagship store

    Tailoring brand The Bespoke Club has launched its flagship store at Suntec Boutique, hosting a celebration attended by VIP clients, celebrities and other special guests.

    The Bespoke Club specialises in bespoke suits and shirts. Club patrons have complete governance over style, cut and materials, with access to more than 5000 European fine fabrics, haberdashery and accessories.

    bespoke

    It takes up to 50 hours of manual work to create a bespoke garment. Rolling the lapel, felling the collar, setting the canvas and sewing the buttons are all done by hand at The Bespoke Club. Its new store offers the style of a Savile Row boutique, and includes a personal shopping suite for privacy and discretion.

    However, clients do not need to visit the store – The Bespoke Club offers a personalised tailoring service at the client’s home or office.

    A range of packages is available, and there are special rates for corporate partners. Also available at The Bespoke Club are accessories, leather goods and custom-made shoes.

    Meanwhile, at the opening party, brand ambassador Srikant Ramaswami gave the opening speech on the essence of bespoke, while Buro 24/7 Singapore editor Norman Tan gave a presentation on the art of fine tailoring. As guests mingled over canapés, wine and champagne, Tan hosted a tie-a-bowtie competition with prizes for participants.

    Srikant Ramaswami - The Bespoke Club

    Reflecting the colours of the brand, the venue was dressed in blue and white.

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  • Hong Kong retail sales ‘worst in history’

    Hong Kong retail sales ‘worst in history’

    A MasterCard spending survey released ahead of the official government data this afternoon shows March Hong Kong retail sales declined at the worst rate in the history of the survey.

    “Overall retail sales in Hong Kong contracted by 18.5 per cent year-on-year, reflecting the deepest decline since 2014,” according to the latest MasterCard SpendingPulse Hong Kong Report.

    Clothing and jewellery sales in March dropped by more than total retail sales, while only grocery outperformed overall retail sales. The March results brought the year-on-year Q1 retail sales decline to 11.7 per cent from the same period in 2015.

    Sarah Quinlan, senior VP of market insights for MasterCard Advisors, said the sharp decline was a result of the contraction in spending from Mainland Chinese tourists and in discretionary spending by domestic Hong Kong consumers.

    “The early Easter holiday did nothing to stimulate spending as consumer confidence remains subdued.

    “Overall our outlook for Hong Kong retail sales remains weak as the slowdown in spending from Mainland China continues to negatively impact the Hong Kong retail economy,” said Quinlan.

    Analysing local retail performance and spending, the macroeconomic report uses aggregated and anonymous transaction data, along with all other payment forms including cash, to offer insight into consumer spending trends, providing an early overview of market indices to help retailers, investors, card issuers, banks and government agencies in their decision-making processes.

    Launched by MasterCard Advisors, a unit of MasterCard, the SpendingPulse report is available to subscribers the third week of every month and shares quality insights on consumer spending. The monthly report also includes an overall retail sales and price index, so that subscribers can understand whether spending growth is truly being driven by increased shopping or by inflation or increased promotions.

    SpendingPulse is currently available to subscribers in Australia, Brazil, Canada, Hong Kong, Japan, the UK and the US, and is delivered ahead of retail spending figures provided by other sources. It is one of the most quoted reports on macroeconomic trends in the US and is often used as a source of reference by major international news outlets.

    In preparing the report, MasterCard analyses the transactions processed by the MasterCard Hong Kong payments network and uses statistical models which take into account the trends of other payment methods (cash) to produce accurate and efficient reports.

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  • Myntra India pins hopes on sportswear

    Myntra India pins hopes on sportswear

    Adding more products and international brands to its portfolio, online fashion retailer Myntra India aims to grow its outdoor and sports range revenue by 20 per cent over the next 15 months.

    Owned by Flipkart, the company earns about 15 per cent of its revenue from sportswear and has just introduced apparel and footwear from US brand The North Face (TNF), reports The Times of India.

    “The North Face is an important addition to our list of international exclusive brands,” says Myntra head of eCommerce Prasad Kompalli.

    He says the outdoor category is expected to double its growth in 2016-17.

    TNF’s range went on sale this month. Part of VF Inc, it was founded in California in 1966 and specialises in outerwear, fleece and coats. It competes directly with Columbia Sportswear, which entered India in December 2013.

    VF Asia executive Bruno Feltracco says India offers a huge opportunity as a market.

    “Our experience in China helped us decide to first go online and understand the market. There is nothing that prevents us to go offline after we reach a certain stage,” he says. “We already have some of our other brands here doing really well.”

    VF Asia’s other brands include Lee, Wrangler and Nautica.

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