New York -- Uniqlo will continue its expansion in the United States by entering the Los Angeles market. The Japanese retail powerhouse announced it will open five stores in the Los Angeles area, starting in September, with locations at South Coast Plaza, Costa Mesa; Northridge Fashion Center, Northridge; and Glendale Galleria, Glendale. In October, the... Continue Reading →
Next Plc (NXT), the U.K.’s second-largest clothing retailer, raised its full-year profit forecast little more than a month after setting it, as sales for the first quarter of the year exceeded analyst estimates. The retailer also increased its sales predictions for the second time this year after the early part of 2014 benefited from warmer... Continue Reading →
Iconic luxury goods maker Hermes on Tuesday revealed it had beaten forecasts for its first quarter as like-for-like sales rose 14.7 per cent. Demand for both its fashion and leather goods and accessories drove the increase, with a particularly strong performance in Japan, one of Hermes’ biggest markets. Revenue in Japan, where Hermes retails in... Continue Reading →
Coach shares dropped more than 9% Tuesday after the company reported a disappointing decline in third quarter sales. North American comparable store sales plunged 21%, marking the fourth straight quarter of declines. The company also reported a 7% decline in third quarter revenue to $1.1 billion. Here's why the company is in trouble: 1. Coach's... Continue Reading →
Tesco, the world’s third largest retailer, will this week formally sign an exclusive partnership with Dubai-based supermarket chain Choithrams, sources have confirmed. The partnership will be officially announced at a press conference in Dubai on Wednesday and will pave the way for Tesco-branded products being exclusively sold in Choithrams’ 31 stories across the UAE, a... Continue Reading →
Italian luxury lingerie specialist La Perla pursues its international retail expansion with two new store openings in Hong Kong at Harbour City and in Macau at The Venetian. Both stores feature the lingerie and ready to wear lines of the house. The stores reflect the new retail store concept signed by Roberto Baciocchi. La Perla... Continue Reading →
Gap Inc expects its sales in China to hit $1 billion in three years and become its second largest market, the retailer said on Wednesday at its analyst day. Last year, Gap opened 34 namesake stores in China, bringing its total there to 81. The retailer will open another 30 this year. The company recently... Continue Reading →
Miu Miu (Prada Group) opened this week its third store in Beijing at the recently renovated In88 Mall in Wanfujing district. The new Miu Miu store covers 420 sqm on two floors and features ready to wear, shoes, eyewear and handbags. Miu Miu operates its largest flagship store in Beijing at the Sanlitun Village and... Continue Reading →
Canada's first free-standing Jimmy Choo store will open at Toronto's Yorkdale Shopping Centre. Interestingly, a Jimmy Choo shop-in-store is already located steps away, within the mall's Holt Renfrew store. More Canadian Jimmy Choo locations are expected to follow. Yorkdale's new Jimmy Choo will be only steps away from Holt Renfrew's Jimmy Choo shop-in-store Jimmy Choo... Continue Reading →
Luxury British fashion house Burberry has become the first premium brand to join Chinese company Alibaba Group online marketplace, Tmall.com with the launch of its digital storefront. Burberry's official Tmall.com store launched on Thursday and offers tailored selection of the brand's product range, including menswear, womenswear, fragrance and accessories. The store opening coincided with the... Continue Reading →
Roger Owen, a former property director at Wm Morrison for 22 years, has launched a scathing attack on the retailer he left in 2009, describing current chief executive Dalton Philips as “out of his depth” and the business as a “supertanker heading towards an iceberg”. It never rains but it pours, and for Morrisons, Owen... Continue Reading →
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Reliance Industries Ltd today said its retail chain has become the largest in the country and reported a cash profit in 2013-14. Revenue at Reliance Retail rose 34 per cent to Rs 14,496 crore in 2013-14 from a year earlier. "Retail business has turned around and is now India's largest retail chain," Reliance Industries Chairman... Continue Reading →
Hong Kong - Wal-Mart Stores Inc plans to open 50 additional wholesale stores in India over the next 4-5 years, company spokesman Anthony Rose said on Tuesday. The world's largest retailer already runs 20 wholesale stores in India. The retailer will also launch wholesale e-commerce operations this summer in the country, Rose added.
British luxury shoemaker Jimmy Choo opened this week its new flagship store in Beverly Hills on Rodeo Drive, which features the new retail concept designed by David Collins Studio. A limited edition Candy bag was also launched for the occasion, exclusively available at the Rodeo Drive store. Other Jimmy Choo stores are scheduled to be... Continue Reading →
French jeweller Cartier opened this week a new store in Venice, Italy at 1474-1475 Calle San Moisè , steps from San Marco Square. The new store features the new retail concept of the brand and includes both jewellery and watches. The new store is larger than its former location.
London’s Old Bond Street, home to Louis Vuitton, Chanel, Saint Laurent and Ferragamo, has yet again landed the title of most expensive shopping street in Europe. Property advisers Colliers International on Monday revealed retailers are now spending £838 per square foot per year as demand for space on Britain’s premium luxury street continues to outpace... Continue Reading →
Gucci is the latest major international luxury brand to announce direct operations in Russia, taking over control of its 3 existing stores in Moscow (Tsum, Kutuzovskiy Prospekt e Barvikha Luxury Village) and preparing to open two new stores by the end of the year, one inside the Gum Department Store and a second one on... Continue Reading →
Coffee chain Starbucks expanding aggressively in India NEW DELHI: The world's largest coffee chain Starbucks Coffee Co. is expanding aggressively in India even as its competitors, including global rivals such as Costa Coffee and Gloria Jean's Coffees, are having a tough time in the country's cafe market. Tata Starbucks Ltd, a 50:50 joint venture between... Continue Reading →
Burberry has recently unveiled in Shanghai its largest store in Asia Pacific. Spread over three floors, the new Burberry flagship store in Shanghai is located within Kerry Centre on Nanjing Road West and features the full product range of the brand. The new Burberry store features personal tailoring service as well as a space dedicated... Continue Reading →
Aldar Properties , Abu Dhabi's leading listed property development, investment and management company, has announced that anchor tenants have accelerated fit-out of their units at Yas Mall in preparation for the scheduled opening in November to coincide with the 2014 Formula One Etihad Airways Abu Dhabi Grand Prix. Tenants are now actively engaged with the... Continue Reading →
House of Fraser could open as many as 50 stores in China following its sale to Chinese conglomerate Sanpower. Sanpower, which also owns China’s oldest department store, Nanjing Xinjiekou, revealed earlier this month that it was buying an 89 per cent stake in House of Fraser in a deal that gives the company an enterprise... Continue Reading →
Situated in the heart of Vienna in the Goldenes Quartier (1, Wallnerstrasse), the new Dior boutique in Vienna spreads over its two floors. On the ground floor, timepieces rub shoulders with the accessories, fragrances from the Collection Privée Christian Dior and leather goods creations, with a special area given over to precious skins. On the... Continue Reading →
Quebec's largest mall, Les Galeries de la Capitale, is expected to add about 150,000 square feet of retail space at a cost of about $150 million. An 11-screen Cineplex theatre will also be added, and construction could begin at the end of 2014. Located in suburban Quebec City, Les Galeries de la Capitale has almost... Continue Reading →
Massmart, one of South Africa’s largest retail groups, plans to start operating in Angola in 2015 with two stores, the group’s director for Africa, Mark Turner said in Johannesburg. During the Africa Investment Summit, organised by financial news agency Reuters, Turner also said that one of the stores would open in the first quarter of... Continue Reading →
Samsung's First Retail Stores Open In The UK The first Samsung store will open today. Samsung is planning to open up 60 stores across Europe in partnership with the Carphone Warehouse which will sell exclusively Samsung products. Samsung Experience Stores have opened already in Germany, Portugal, Netherlands, Sweden, Spain and Ireland but now the UK... Continue Reading →
SYDNEY (Reuters) - South African retailer Woolworths Holdings Ltd (WHLJ.J) is set to buy Australia's second-largest department store David Jones (DJS.AX) for $2 billion, trumping a merger proposal from Australian rival Myer Holdings Ltd (MYR.AX) with a hefty premium. The deal, the biggest for Woolworths to date, creates a leading southern hemisphere retailer that will... Continue Reading →
Wal-Mart’s brand value is waning, as competitors like Amazon have dulled its low-price edge. By contrast, the savvy use of big data to customize shoppers’ wants and needs has catapulted the brand equity of retailers as disparate as Whole Foods and Macy’s. That’s some of what Interbrand’s 2014 Best Retail Brands report revealed. The annual... Continue Reading →
MILAN, Italy - Italian fashion house Versace said on Thursday it had started 2014 on a strong footing thanks to a double-digit rise in sales from its own shops in the first quarter, following a 19 percent increase for the whole of 2013. Total revenue at the luxury group, which plans an eventual stock market... Continue Reading →
Located in the city’s prestigious Holt Renfrew Yorkdale department store, the new Miu Miu shop-in-shop features handbags and accessories collections. In a sophisticated setup, the Miu Miu boutique features original, polished-steel and mirrored cellular polycarbonate display cases set against iconic damask fabric walls. The warmly-lit space sets off the two elements to perfection, framing and... Continue Reading →
Galeries Lafayette owner Motier SAS bought a 6.1 percent stake in Carrefour SA (CA), saying the “strategic” stake is for the long term and a reflection of confidence in the company’s future. Motier, the holding company of the Moulin family, bought 44.2 million Carrefour shares, according to a statement sent after the close of French... Continue Reading →
Nigeria has "rebased" its gross domestic product (GDP) data, which has pushed it above South Africa as the continent's biggest economy. Nigerian GDP now includes previously uncounted industries like telecoms, information technology, music, online sales, airlines, and film production. GDP for 2013 totalled 80.3 trillion naira (£307.6bn: $509.9bn), the Nigerian statistics office said. That compares... Continue Reading →
A Chinese tycoon has bought British high street chain the House of Fraser, according to sources. Reuters said a 89% stake was bought by Sanpower, a Nanjing-based conglomerate controlled by Yafei Yuan. Sources have told Sky News an announcement is expected imminently. House of Fraser will now seek strategic growth in mainland China as part... Continue Reading →
World’s largest luxury group LVMH has partnered with Japanese Group Mori to invest over 600 million euros in a major real estate project in Tokyo’s Ginza district. The project expands over 147,600 sqm and will be structured on 13 floors. The new complex led by LVMH will include luxury retail and offices, marking a series... Continue Reading →
NEW DELHI: Japanese personal care products maker Shiseido Co is foraying into the high-end skincare and makeup segment in India with its brand 'Za' and plans to sell products through 250 sales points across the country by the end of 2014. "The 'Za' brand will be launched in the second quarter of the year," Shiseido... Continue Reading →
Chicago -- Claire's Stores on Tuesday said its CEO, James D. Fielding, has resigned. He will be replaced by Beatrice Lafon, currently president of Claire’s Europe, effective April 2. The specialty retailer also posted a lower profit for the fourth quarter amid a drop in sales. Fielding joined Claire's from The Walt Disney Co. in... Continue Reading →
David Cameron In Waitrose Shoppers Row Last Updated 14:36 03/04/2014 Anushka Asthana, Political Correspondent Labour has branded David Cameron as "stuck-up" and "out of touch" for saying the most friendly supermarket shoppers are found at the high-end Waitrose. Michael Dugher, the shadow cabinet office minister, said: "There's nothing wrong enjoying shopping at Waitrose but Cameron... Continue Reading →
Singapore retail rents edged higher in the first quarter of 2014, helped by continued store openings by local and international brands which offset an expected surge in new retail space, property consultant Colliers International said on Tuesday. SINGAPORE: Singapore retail rents edged higher in the first quarter of 2014, helped by continued store openings by... Continue Reading →
Research and consulting firm, Great Place To Work Institute and Retailers Association of India (RAI) came together to recognise India's Top 10 Best Retail Companies To Work for in 2014. The companies were considered on the basis of five dimensions: credibility, respect and fairness, pride and camaraderie. By executing practices across areas such as inspiring,... Continue Reading →
Marks & Spencer intends to open 250 new stores outside the UK in the next three years as part of significant global expansion plans. Marc Bolland, chief executive, revealed that the high street retailer is looking to grow its international sales by 25pc and profits by as much as 40pc. Although it is retrenching in... Continue Reading →
BOSS Womenswear Creative Director, Jason Wu hosted a cocktail party in Hong Kong to celebrate the opening of two new Hugo Boss one at the Central Building and one on Canton Road. Solange Knowles was the DJ for the evening. The new stores carry a complete range of Hugo Boss labelled product categories and the... Continue Reading →
Italian luxury lingerie and ready-to-wear house of La Perla opened this week its brand new flagship store in Beijing, a store that reflects the new global retail concept of the brand. The new La Perla store is situated within the Shinkong Palace Mall in Beijing and covers 180 sqm, featuring lingerie, swimwear and ready to... Continue Reading →
French luxury group Louis Vuitton Moët Hennessy (LVMH) is looking to buy Canadian real estate to open stores. The company is looking to own retail space as rents continue to skyrocket on some of the world's most expensive luxury retail streets. LVMH is apparently in talks to purchase a large substantial space on Toronto's Bloor... Continue Reading →
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