HARDLY a month has gone by this year without construction starting on yet another new mall or a newly completed one opening its doors. In fact, at least 25 new shopping centres, each one exceeding 30,000m² in size, are expected to be added to the market between 2013 and 2016, according to figures from the... Continue Reading →
Undertaking an extensive expansion programme while minimising the impact on an estimated 24 million visitors per annum is no small feat. In a R140 million upgrade to its Victoria Wharf Shopping Centre, the V&A Waterfront has managed to not only improve its retail trade performance over the nine month construction period, but also increase the... Continue Reading →
The evolution of UAE retail: From corner shops to mega malls When Talal Al Dhiyebi was a child, the central souq in Abu Dhabi was the heart of retail in the capital. Today he is an executive at Aldar, which built both the modern answer to the market on the same site and a mall... Continue Reading →
Argos unveils revamped store as part push into a brave new digital world Argos store in Old Street, east London, is part boss John Walden's five-year plan to secure the firm's future by turning it into a 'digital retail leader'. Argos is banking on voice-activated computer systems, iPads, free Wi-Fi and digital screens flashing up... Continue Reading →
Tiffany & Co. (TIF) posted third-quarter profit that topped analysts’ estimates and boosted its annual earnings forecast as the rising U.S. stock market gave wealthy consumers the confidence to snap up higher-priced merchandise. Net income in the quarter ended Oct. 31 rose 50 percent to $94.6 million, or 73 cents a share, from $63.2 million,... Continue Reading →
UAE-based conglomerate Al Futtaim Group has announced the official opening of its Cairo Festival City Mall project. Cairo Festival City is a 3 million sq m development by Al-Futtaim Group Real Estate (AFGRE), a unit of Al-Futtaim Group. Al-Futtaim vice chairman Omar Al Futtaim said that when fully complete the mall will offer more than... Continue Reading →
Lefties, owned by Spanish parent company Inditex, once stated out as an outlet store for left over stock from Zara, now appears to be in the process of reinventing its brand image. Although Lefties first began selling last season Zara stock, hence the name origin from the phrase 'left over,' little by little the name... Continue Reading →
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Cairo Festival City Mall, a 168,000-square metre shopping centre, is set to finally open its doors for the first time today as a wave of new super malls is expected to hit the troubled Egyptian market. The long awaited mall, developed by Al-Futtaim Group Real Estate Egypt, part of the Dubai-based Al-Futtaim Group, had originally... Continue Reading →
Value supermarket Iceland Foods has acquired seven Iceland stores in the Republic of Ireland for an undisclosed sum, as the retailer accelerates its international expansion. Iceland Chairman and Chief Executive Malcolm Walker said the retailer sees great opportunities for growth in Ireland and said taking direct control of these stores will help it to ensure... Continue Reading →
Technocorp Holding Ltd, a Swatch Group company, said on Monday it is increasing its stake in Dubai-based company Rivoli Investments. In a statement, it said it was purchasing a tranche of shares and would be taking control of Rivoli Investments, without specifying how big a stake it now held. Swatch Group previously held a 40... Continue Reading →
The former CEO of Hermès is set to receive a reported USD 1 million dollars a year as part of a ten year non-competition contract, according to fashionunited.co.uk. Patrick Thomas – who will be succeeded by Axel Dumas early next year – signed the contract this week and is set to receive EUR 966,300 each... Continue Reading →
The Swedish group said the medium-term home furnishing market looked bright as housing sales and consumer confidence improve. A spokesman said: “The economy looks like it’s picking up and we have every hope that will continue.” It has overhauled its ranges – including a £4million makeover of its living room and children’s departments nationwide –... Continue Reading →
Morrisons has announced that its online delivery service will begin delivering groceries on 10th January 2014. Morrisons said its new online service will focus on freshness, with the website giving customers an indication of how good the food is via a rosette rating, representing the “quality of the product available for sale including the seasonality... Continue Reading →
Value fashion retailer, Mr Price has taken its homeware division, Mr Price Home online. Mr Price Apparel launched its online sales platform in South Africa in July 2012 and internationally in July 2013. The group noted in its recent results presentation that it hoped to launch online businesses for Mr Price Home, Sheet Street and... Continue Reading →
Msheireb Downtown Doha, the flagship project of Msheireb Properties, will feature extensive retail outlets including a mall, its CEO said on Sunday. The Galleria will comprise approximately 100 stores set across four levels of shopping and entertainment space. Spanning approximately 48,000 square metres of gross leasable space, the Galleria will comprise an anchor supermarket on... Continue Reading →
Ever wonder where Starbucks got its name? How about Google or Yahoo? It's not something we think about often, but the names of many major companies that now seem familiar are often made up, seemingly unrelated, and quite quirky. After all, why would you call a cell phone company BlackBerry? What does IKEA have to... Continue Reading →
India doesn't have enough malls to open shops: Marco Bizzari, CEO, Bottega Veneta Marco Bizzari, president and chief executive of Bottega Veneta, has no plans to expand the Italian fashion brand's retail presence in India unless there is good infrastructure and more shopping malls. He is, however, optimistic about the Indian luxury market and plans... Continue Reading →
H&M is traversing Mexico in search for possible store locations following the opening of its 50,000-square-foot store in Guadalajara this month. Despite H&M insisting that they have yet to settle on a store location, members of the Mexican press are speculating that its next store could be in San Luis Potosí in central Mexico or... Continue Reading →
Edcon plans move into Ghana, Nigeria next year Edcon CEO Jürgen Schreiber THE owner of Edgars and Jet, Edcon, will open stores in Ghana and Nigeria next year, CE Jürgen Schreiber said on Thursday. As the world’s second-fastest growing region, the continent’s booming economies have caught the eye of retailers in search of higher yield... Continue Reading →
Dubai real estate giant Emaar Properties may consider spinning off its retail business into a separate entity, chairman Mohamed Alabbar said in an interview with Bloomberg Television. The company, which built the world’s tallest tower Burj Khalifa, currently counts Dubai Mall and Dubai Marina Mall among its retail assets. It has increasingly relied on revenue... Continue Reading →
New Delhi, Nov.20 (ANI): Famed coffee retailer Starbucks will soon open its first outlet in Bangalore. Starbucks, which has joint venture with Tata Global Beverages, parent of Tata Coffee will open its outlet in Bangalore on November 22. Addressing mediapersons here on Wednesday, Group President, Starbucks Coffee China and Asia Pacific John Culver said: "I... Continue Reading →
The Shoprite Group has once again been honoured in the recently announced 2013 The Times / Sowetan Retail Awards with its flagship brand, Shoprite, achieving the Grand Prix award as top retailer overall for the fifth consecutive year. Several of the other brands in the Group also took top-ranking positions throughout various categories based on... Continue Reading →
London commuters will be able to pick up their grocery shopping at London Underground stations under plans being drawn up by Asda. The supermarket group has reached a deal with Transport for London to open click-and-collect points in the car park at six London Underground stations. The move by Asda is part of a plan... Continue Reading →
Another luxury brand has opened a boutique in Abu Dhabi, joining a growing list of premium labels setting up shop in the capital. Berluti, a Paris-based shoe brand owned by LVMH, has opened a boutique in The Galleria, two weeks after the Italian company Momodesign opened its first store outside its home market in the... Continue Reading →
Hollister reveals new store concept Tuesday, 19 November 2013 Abercrombie & Fitch, owners and operators of Hollister Co., are introducing new changes to the existing store concept for Hollister. This announcement comes after the parent company reported its total sales for the third quarter had declined 12 percent from 1.17 billion US dollars, to 1.03... Continue Reading →
Tie Rack is to begin closing its 44 UK stores, threatening the loss of up to 200 jobs. The closures mark the end of the neckwear specialist's tricky 30-year existence. It has been in gradual retreat since its 90s heyday, when it had 450 shops, as men's fashion has changed and competition has intensified. The... Continue Reading →
Dubai’s Majid Al Futtaim (MAF) will spend AED200m ($54.4m) on upgrade works at its Sharjah City Centre mall. The refurbishment will include additional gross leasable retail space of 13,500 sqm, which will house a cinema and 28 new shopping and dining outlets, MAF Properties said in a statement. “Sharjah City Centre 's expansion and refurbishment... Continue Reading →
India's malls are struggling amid weak consumer sentiment and poor planning, with up to 80 per cent of retail space lying vacant in more than 250 shopping centers that have opened in the country over the past couple of years, according to a survey. "Vacancy levels are due to poor location, poor design and poor... Continue Reading →
Prada has this week opened a new store in Tokyo, Japan. Located in Ginza’s Chuo Dori St, the new store comprises of: men’s, women’s ready-to-wear, accessories and leather-wear sections over three floors and 1,000 sqm. At present, the Italian fashion house operates 14 sales points in Tokyo, half of which are within luxury department stores.... Continue Reading →
Retail and hospitality conglomerate Landmark Group is set to expand with the announcement it will add 40 stores under its Sports One brand across the GCC by 2016. With six stores currently in operation, plans are underway to expand its network. However, the company has made no mention of where the new stores will be... Continue Reading →
Gucci, Al Tayer Insignia in joint venture Luxury brand announces direct entry into the UAE market to build on its six points of sale Dubai: Gucci, the luxury fashion brand, has announced its direct entry into the UAE through the signing of a memorandum of understanding for the establishment of a joint venture with Al... Continue Reading →
Burberry Group Plc (BRBY), the U.K.’s largest luxury-goods maker, said earnings at its nascent beauty business will be less than half its original forecast this fiscal year as it steps up marketing spending. The division, which Burberry has controlled directly since April, will earn about 10 million pounds ($16 million), the London-based trenchcoat maker said... Continue Reading →
Sir Philip Green says he is considering moving into food for the first time by setting up high street convenience stores at BHS sites. The retail tycoon said that Arcadia, his fashion conglomerate, has drawn up plans for a prototype food store within BHS and plans to decide by the end of the year whether... Continue Reading →
Crocs, known for its colorful clogs, is considering going private, according to reports. The company has held talks with a small group of private equity firms, including Blackstone and KKR, a source told Reuters. Representatives for Crocs, Blackstone and KKR either declined to comment or did not immediately respond to requests for comment. Crocs shares... Continue Reading →
John Lewis to open four-tier, 230,000sq ft department store at Westfield London in 2017 - Retail Times John Lewis goes west John Lewis is to open a four-level department store at the UK’s number one shopping centre, Westfield London, creating approximately 600 new jobs for London. The 230,000sq ft department store will be John Lewis’s... Continue Reading →
Middle East customers are among the most sophisticated in the world Dubai: Louis Vuitton, the world’s biggest luxury brand in terms of sales, plans to double the size of its existing Dubai Mall store, Roberto Eggs, the company’s president for Europe, the Middle East and Africa told Gulf News in an exclusive interview on Tuesday.... Continue Reading →
Mr Price Group Ltd. (MPC), a South African clothing and household goods retailer, said first-half profit gained 24 percent as it focused on customers paying in cash amid falling consumer confidence. Net income in the six months through Sept. 28 advanced to 747 million rand ($72 million) from 605 million rand a year earlier, the... Continue Reading →
Bangalore: Reebok, owned by German sportswear brand Adidas AG, may open 150-300 stores over the next three years in India as it promotes its new retail format and focuses on offering fitness-related products. Reebok, which along with its former senior management is being investigated by Indian regulators for alleged fraud, had introduced a new retail... Continue Reading →
New Look Group Ltd., Britain’s second-biggest women’s budget-fashion retailer, said three international markets have the potential to overtake the U.K. in terms of importance as it expands beyond home. Germany, Russia and China “can be as big as the U.K., or significantly bigger,” Anders Kristiansen, chief executive officer of the closely-held company, said on a... Continue Reading →
Deloitte's 2013 Christmas Spending survey predicts Irish consumers will again spend more than EU counterparts over the festive season Nov 8 2013 The average spend this Christmas per household is suggested to reach €894 The annual Deloitte Christmas Spending survey, carried out during the second and third week of September this year, has been released... Continue Reading →
Level Shoe District, the world’s largest shoe store in Dubai Mall, sells 600 pairs a day but aims to almost double the number in the next few years. The 96,000 square foot store, which includes 300 brands, of which around 40 are stand-alone designer boutiques, opened in October 2012 in an underused area of the... Continue Reading →
Following the opening of the J.Crew flagship store on Regent Street, today French luxury brand Louis Vuitton opened its new multi-leveled shop-in-shop, known as ‘Townhouse,’ in London department store Selfridges. The new shop-in-shop was designed by interior designer Gwenaël Nicolas to give its customers a true luxury Louis Vuitton experience. The project took over 4... Continue Reading →
Preppy American retailer Abercrombie & Fitch will introduce larger sizes in a bid to boost their ailing sales figures The brand has often been criticised for excluding larger women with their sizing and CEO Mike Jeffries has been surprisingly candid about the company's 'thin and beautiful' policy - which applies to both customers and staff.... Continue Reading →
Debenhams bosses have lost out on cash and share bonuses this year after profits slipped, according to the department store's annual report. Michael Sharp, the chief executive of the retailer, saw his total pay package drop to £754,000 in 2013, 22% below last year, after missing out on a potential bonus worth 100% of his... Continue Reading →
Qatari retailer Al Meera Consumer Goods Company has announced that it has signed an agreement to build seven new neighbourhood shopping malls. The deal has been struck with Al-Aliaa Trading and Contracting Company and Al-Muftah Trading and Contracting Company, it said in a statement. According to the agreement, Al-Muftah Company will build three new malls... Continue Reading →
Johannesburg - Truworths International Ltd., South Africa’s largest listed clothing retailer, fell the most in more than four years as inflation curbed consumer spending and slowed its sales growth. The stock slid 8.1 percent to 85 rand by the 5 p.m. close in Johannesburg, the biggest decline since November 2008. Truworths was the worst performer... Continue Reading →
New York -- Hennes & Mauritz (H&M) will open a 42,000-sq.-ft. store in the heart of New York City’s Times Square on Nov. 14 at 12:01 a.m., with a ribbon-cutting and lighting of the H&M logo on the top of the building by global recording and fashion superstar, Lady Gaga. "This is truly a milestone... Continue Reading →
Marks & Spencer Group Plc (MKS), Britain’s largest clothing retailer, plans to double store numbers in India and expand its lingerie offering there, making the Asian nation its largest international market. “India is an extremely important market for us,” Chief Executive Officer Marc Bolland told reporters today before the opening of a store in Mumbai.... Continue Reading →
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