Newly opened in Hamburg is British icon Paul Smith‘s very first retail location in Germany. Situated in an elegant mid-19th century Biedermeier-era townhouse in the city’s historic Altstadt district, the shop carries both men’s and women’s clothing alongside accessories, furniture, and more. Within the stone facade, each room has been uniquely designed to pay homage... Continue Reading →
Chinese business tycoon Yuan Yafei is in talks with British department store group House of Fraser regarding a bid that values the company at more than 450 million pounds ($749 million), according to a source familiar with the situation. The proposed take-over, first reported by British newspaper The Sunday Times, was tabled by Sanpower, the... Continue Reading →
European coffee house, Caffè Nero, opened its first store in the Republic of Ireland on 13 March, creating eight new jobs. The launch into Dublin represents an investment of €20million into the Irish economy over the course of the next five years, creating a total of 320 jobs. Headquartered in London, Caffè Nero Group Ltd... Continue Reading →
Japanese fast-fashion retailer Uniqlo is in advanced negotiations to open a 35,000 square foot store at Toronto's Yorkdale Shopping Centre, according to the Financial Post. Uniqlo is also negotiating to open other Canadian stores, the first of which could open as early as 2016. Uniqlo's negotiations with Yorkdale are “are pretty advanced,” according to one... Continue Reading →
Debenhams is preparing to open the latest addition to its Baltic expansion with a new store in Riga next month. The British department store chain will launch a new £2 million store at the Spice mall in the Latvian capital, covering an area of 2,948.5 m. The new store will create 40 jobs, and joins... Continue Reading →
SuperValu breathes down Tesco’s neck after Superquinn rebrand Tesco is perilously close to losing its pre-eminent position in the Irish supermarket sector with the latest figures from retail analysts Kantar Worldpanel indicating that its market share has fallen again while both Aldi and Lidl outperform the market. The research published this morning, shows that Aldi... Continue Reading →
ARROYOMOLINOS, Spain - At the Xanadu shopping mall in Madrid's suburbs, the indoor ski slope is busy with children but the designer stores are quiet. In this former mecca for high spenders, discount shop 'Lefties' looks like just another post-recession pop-up budget brand. In fact the store belongs to the world's biggest fashion retailer Inditex... Continue Reading →
Dubai: Community mall Oasis Centre, owned by retail and hospitality conglomerate Landmark Group, will open seven new properties by the end of 2015, bringing the total number of malls to 12, according to Neelesh Bhatnagar, director of Oasis Centre. Bhatnagar was speaking at a press conference in Dubai on Tuesday. There are currently five Oasis... Continue Reading →
Nakheel on Tuesday announced plans for two new shopping destinations, offering a total of 1.5 million sq ft of retail space in Dubai. The Dubai developer revealed plans for a 1 million sq ft regional shopping mall in Jumeirah Village Triangle and a 500,000 sq ft mall in Jumeirah Village Circle as part of its... Continue Reading →
Shoprite opened its first outlet in northern Nigeria on Thursday, as part of an aggressive expansion drive and defying wider concerns about security in the region. The store in Kano, the north’s largest city and main commercial hub, is situated in the new $110 million (R1.2 billion) Ado Bayero Mall that has taken three years... Continue Reading →
According to WWD, talks to sell close to 80 per cent of the company are said to be 'entering the final stages", though there is still some issue over the company's valuation. Equity fund Permira, which owns Hugo Boss, New Look and R.Griggs Group Ltd, parent of the Doc Martens brand, is said to be... Continue Reading →
Marks & Spencer confirmed the departure of two senior executives as the brain drain from the high street chain continues. IT director Darrell Stein and Clem Constantine, director of property, both of whom sit on the M&S management committee, are leaving in the summer. The retailer has suffered a stream of senior defections, but a... Continue Reading →
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Mumbai, March 21: Tesco, the £72-billion British retailer, today announced that it had picked up a 50 per cent stake in Tatas-owned Trent Hypermarket Ltd (THL), becoming the first global supermarket chain to enter India’s multi-brand retail segment. The world’s second-largest retailer by profits will invest £85 million (or Rs 850 crore) in THL. In... Continue Reading →
Asian tycoon Li Ka-shing will sell a near 25 per cent stake in his AS Watson health and beauty chain to Singapore’s Temasek for $5.7bn, rather than pursue a planned dual listing in Hong Kong and London. The investment was announced late on Friday by Hutchison Whampoa, the conglomerate controlled by Mr Li that owns... Continue Reading →
Sources tell us that Japanese fast-fashion retailer Uniqlo will open in Canada, and that it will arrive via Nordstrom. We cannot confirm this information, though we have been contacted by sources from across Canada (as well as one in the United States) notifying us of Uniqlo and Nordstrom's potential business relationship. If these sources are... Continue Reading →
Apparel retailer Express Inc forecast a profit for the current quarter that fell far short of analyst expectations, citing deep discounting and a steeper-than-expected fall in store traffic. The company's shares fell 17 percent in premarket trading after the specialty fashion apparel retailer also reported fourth-quarter results that also missed analyst estimates. Express said it... Continue Reading →
Dubai’s Outlet Mall is planning an expansion, tapping demand for bargain brands. “Phase two will be expanding the Outlet Mall. It has been on the cards for sometime, but we are working more seriously now towards expansion,” said Mr Vishal Mahajan, the mall’s director. “It takes a couple of years to build so not before... Continue Reading →
Next has reported a 12% increase in annual profits to £695m. The UK fashion retailer also reported a 5.4% growth in sales to £3.7bn to the end of January, and increased its expectations for the year ahead. Sales via its online and catalogue business, Next Directory, grew by more than 12%, while sales at its... Continue Reading →
Bloomington, Minn. -- Mall of America has launched a $325 million expansion project in cooperation with Mortenson, a U.S.-based construction and development services company, Hotel Development LLC, an enterprise of the Shakopee Mdewakanton Sioux Community, and the city of Bloomington, Minn. The expansion will include a 342-room JW Marriott hotel, office tower, high-end retailers, new... Continue Reading →
San Francisco -- Gap Inc. plans to open five franchise-operated Old Navy stores in the Philippines in 2014. The first two Old Navy stores will open in Manila in March and there are plans to open three more stores in the second half of the year for a total of five Old Navy stores in... Continue Reading →
Sephora (LVMH) has inaugurated in Via Durini in Milan, and in world preview, the new retail concept of the brand. Baptized Techno experience beauty store, the space, born by architect Giacomo De Zoppi’s pencil, is an authentic trip of the senses where an olfactive wall turns into an experience to breathe, while the virtual make... Continue Reading →
Fossil plans to set up 25 stores in 5 years Bangalore: Watches and accessories maker Fossil Inc. will open 20-25 stores under its namesake brand in malls in India over the next five years and will also start selling jewellery as it seeks to increase its presence in the country. After Fossil India got approval... Continue Reading →
Moynat (LVMH Group) opened this week a new flagship store in London’s fashionable Mayfair on Mount Street. The new Moynat store is the second global flagship after the one in Paris on Rue St Honore. The iconic French trunk maker features in London its entire accessories collections, including handbags and luggage for men and women.... Continue Reading →
Milton Keynes, UK, 2014-3-18 — /EPR Retail News/ — Home Retail Group today announces a new management structure for Argos as a result of the promotion of John Walden, formerly Manager Director of Argos, to the role of Group Chief Executive. All changes are effective immediately. As Group Chief Executive, John Walden will continue to... Continue Reading →
The British government is hopeful that high-income earners in the United Arab Emirates are ready to splash out on luxury brands exporting their products to the country. Lord Ian Livingston, UK Minister of State of Trade and Investment, is visiting the UAE to launch a brand awareness campaign for British retail, luxury and design companies.... Continue Reading →
The online discount clothing website M and M Direct is to change hands for more than £80m amid a frenzy of deals involving some of the UK's best-known retailers. Sky News understands that TA Associates, the private equity group which bought M and M in 2007, has appointed bankers from Canaccord Genuity to handle the... Continue Reading →
Porsche Design inaugurated yesterday in Milan’s Via Spiga its largest store globally, covering over 400 sqm on two floors. The new Porsche Design store features and expanded ready to wear collection for both men and women, as well as its extended range of accessories. The opening of the Milanese store is not only symbolic in... Continue Reading →
It’s been more than a year of planning, but the Walmart to Go convenience-store format quietly opened in Bentonville on Saturday (March 15), with the grand opening set for March 19. Store workers told The City Wire this was a soft opening and it was a busy day with heavy in-store traffic as travelers on... Continue Reading →
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Sanjay Lalbhai-controlled Arvind has finalised a deal to buy out 49% stake jointly held by the Murjani Group and the US-based private equity fund Matrix Partners in Calvin Klein India for close to 100 crore, said three persons close to the transaction. The deal will help the denim major widen its ties with its existing... Continue Reading →
HONG KONG - Fast Retailing Co Ltd jumped 4 percent in its Hong Kong trading debut on Wednesday as the operator of Japan's Uniqlo clothing outlets listed in the island city in an effort to boost its profile in mainland China and beyond. At one point, the shares shot up as much 31 percent in... Continue Reading →
Prada buys a slice of Pasticceria Marchesi, a Milanese pastry shop Milanese fashion house Prada has finally got a bite of the cake business as it acquires an 80 per cent stake in 190-year-old patisserie Pasticceria Pasticceria Marchesi Let them eat panettone! That's what we imagine the big wigs at Prada Group HQ were saying... Continue Reading →
Bolingbrook, Ill. -- Ulta Beauty’s fiscal fourth-quarter earnings rose 9.5% on better-than-expected sales. The fast-growing beauty products retailer plans to add 100 net new stores, expanding square footage by 15% and remodel 12 locations in its current fiscal year. “Ulta Beauty achieved excellent top line growth in the fourth quarter,” said Mary Dillon, CEO. “We... Continue Reading →
Ann Summers is putting the underwear brand Knickerbox up for sale as the lingerie and adult toys company tries to recapture the risqué edge that made it a success story. The retailer has hired accountants KPMG to run a sale process for the business. It is thought interest may come from big supermarkets and department... Continue Reading →
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Online fashion retailer boohoo.com has seen its shares jump by more than 50% on its first day of trading on the stock market. The company, listed on London's alternative investment market (AIM) exchange, is now valued at around £870m. Its shares first started at 70% above the offer price of 50p each, before easing. Boohoo.com... Continue Reading →
LVMH owned Sephora to open 7 stores in India this year NEW DELHI: Louis Vuitton owned Sephora is planning to open 7 stores in India by the end of this year; Afif Haddar, General manager, South East Asia for Sephora, told ETRetail.com. When queried on the choice of cities for expansion, Haddar said Delhi would... Continue Reading →
Italian luxury menswear house of Ermenegildo Zegna has recently inaugurated its 9th mono-brand store of its main label Ermenegildo Zegna in Ciudad de México at Santa Fe Mall. The new Zegna opening follows the recent inauguration of a new Ermenegildo Zegna mono-brand boutique in Cancun at the Fashion Harbour La Isla shopping centre. Ermenegildo Zegna... Continue Reading →
In line with this week's theme of shop-in-store concessions, we've been told that Nordstrom is looking to possibly feature Prada and other concessions within some of its Canadian locations. Nordstrom has become more receptive to the concept of in-store concessions (designer-operated shops within a larger store), evident by the increase in boutiques for Gucci, Chanel... Continue Reading →
Saudi Arabian retail franchise operations Fawaz Abdulaziz Alhokair on Monday announced it is considering an acquisition in the UK or US after purchasing Spanish brand Blanco for EUR 11 million. Speaking in Dubai on Monday, Al Hokair Fashion Retail company strategy and investor relations director Rob Cass said the company is considering three to five... Continue Reading →
Centrepoint, a retail concept comprising four brands from Dubai's Landmark Group under one roof, has unveiled expansion plans across the Middle East, Asia and Africa. With 100 stores in its retail portfolio, Centrepoint is set to launch 20 stores this year and 15 stores next year across existing territories as well as new markets including... Continue Reading →
Baby products retailer Mothercare has appointed former Shop Direct boss Mark Newton-Jones as interim chief executive after Simon Calver resigned last month. Mr Calver was ousted after less than two years in charge following a profits warning that caused shares in the retailer to slump more than 30pc, wiping out a year’s gains. Mr Calver,... Continue Reading →
Men’s Wearhouse Inc. (MW) agreed to buy smaller rival Jos. A. Bank Clothiers Inc. (JOSB) for about $1.8 billion in cash, ending a five-month takeover battle between the two menswear retailers. Both companies’ boards have approved the transaction, the retailers said today in a statement. Jos. A. Bank also will terminate a separate deal to... Continue Reading →
Tesco is preparing the ground for the departure of its finance director amid tensions with its chief executive as the retail giant attempts to reverse the declining fortunes of its core UK operations. Sky News has learnt that Laurie McIlwee, who has served as Tesco's chief financial officer since 2009, could leave the company within... Continue Reading →
Saks Fifth Avenue's Canadian stores will feature large upscale food departments, modelled on the food hall at London's iconic Harrod's department store. Toronto will become home to the world's first Saks food hall, and it's expected to open in the fall of 2015 within the new Saks Fifth Avenue store at the Toronto Eaton Centre.... Continue Reading →
It has been confirmed by New Look that its chairman, Alistair McGeorge, is to step down from the Board at the end of May 2014 to pursue other opportunities. McGeorge who entered the fashion retailer in 2011 following the retailer’s then chief executive, Carl McPhail’s departure. At that time, the retail had made pre-tax losses... Continue Reading →
Lidl is planning to add 20 new stores to its current 525 stores located across Spain in a EUR 180 million investment. Additionally, the retailer is also aiming to launch another warehouse in Murcia this autumn. German discount supermarket is also looking to invest in a batch of existing stores, its Spanish arm’s spokesperson said.... Continue Reading →
Staples Inc., the largest U.S. office supplies retailer, forecast a fall in current-quarter sales as it loses customers to mass market chains and e-retailers, and the company said it would close up to 225 stores in North America by 2015. Staples' shares fell 9 percent before the bell, after the company also posted lower-than-expected fourth-quarter... Continue Reading →
LONDON, United Kingdom - British retailer Tesco, under pressure to turn around declining sales in its domestic market, is considering reducing its exposure to Turkey, the Financial Times reported on Friday. Tesco, the world's third-largest retailer, is looking at combining its operations in Turkey, where it trades as Kipa, with the country's biggest food retailer... Continue Reading →
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