Canada is an international retail 'hot spot', according to the world's foremost fashion-industry trade publication. Many international retailers are contemplating Canadian expansions, following Nordstrom and Saks Fifth Avenue's lead. Home-grown retailers will need to innovate to compete, or risk facing demise, like bankrupt retailer Boutique Jacob. Women's Wear Daily referred to it as the 'department... Continue Reading →
COLUMBUS, Ohio, May 30, 2014 /PRNewswire/ -- Express, Inc. (NYSE: EXPR), a men's and women's specialty retail apparel chain operating over 600 stores, today announced that one of its subsidiaries has entered into a franchise agreement with Edcon Group, a retail franchise operator in South Africa, to bring the Express brand to South Africa. The... Continue Reading →
Mr Price puts R2bn into staying on top Shoppers browse through a Mr Price Home outlet. Picture: SUNDAY TIMES MR PRICE will invest R2bn over the next three years to entrench its position as the continent’s leading fast-fashion value retailer. The group, which on Tuesday reported diluted headline earnings per share growth of 22.4% for... Continue Reading →
Mr Price online sales surges 300% Value fashion retailer Mr Price said online sales grew as much as 293.4% for the year ended March 2014. The group took its home-ware division, Mr Price Home, along with Sheet Street, online in November, while Mr Price Apparel launched its online sales platform in South Africa in July... Continue Reading →
A shop unit in Hong Kong's Russell Street has been sold for $23m (£13.7m), making the shopping street the most expensive rental area in the world. Hong Kong property power broker Sebastian Skiff said he believes it is a new record, beating New York City's Fifth Avenue to the pricey shopping top spot. Mr Skiff... Continue Reading →
FRANKFURT, May 27 (Reuters) - Permira is selling a 5.6 percent stake in Hugo Boss, the latest step by the private equity house to exit from its investment in the German fashion retailer. Hugo Boss said in a statement late on Tuesday that an investment company controlled by Permira is placing up to 3.96 million... Continue Reading →
HONG KONG - The China operating arm of U.S. retailer Wal-Mart Stores Inc said on Tuesday it planned to invest 580 million yuan ($92.99 million) to remodel 55 existing stores in China this year to enhance store operations and optimize customer experience. Wal-Mart China also said it will open about 30 high-quality stores and additional... Continue Reading →
London is home to more international retail brands than any other city in the world, boosting its credentials as a global retail powerhouse. A total of 31 international retailers opened stores in London for the first time last year, including US fashion retailer J Crew and luxury brand Tom Ford. This means that 57pc of... Continue Reading →
JOHANNESBURG May 27 (Reuters) - South Africa's biggest apparel retailer, Mr Price Group Ltd, broadly met forecasts with a 22 percent rise in full-year profit on Tuesday as cash-strapped shoppers flocked to its no-frills stores. Mr Price, which runs discount stores of the same name, said diluted headline earnings totalled 715.1 cents a share in... Continue Reading →
Roberto Cavalli is in talks with Bahrain-based private equity group Investcorp about a sale of a majority stake in his eponymous Italian fashion brand after failing to reach an agreement with Permira, reports the FT. Cavalli is ready to consider a sale that would value the luxury company at 450 million euro including debt, equal... Continue Reading →
Takealot.com, South Africa’s fastest growing online retailer, has raised over $100 million for continued expansion in South Africa and sub-Saharan Africa. The South African market has shown encouraging signs of ecommerce growth in the past three years as an increasing number of consumers become accustomed to transacting online. The potential for ecommerce is large: In... Continue Reading →
Selfridges is planning to revamp its flagship London store, famous for extravagant window displays, in a £300m, five-year investment. The group will begin redeveloping the Oxford Street site next month in what Selfridges describes as the largest ever single investment in a department store. The accessories offering will be expanded, with the handbag department more... Continue Reading →
Bawabat Al Shamal Real Estate Company (BASREC), owner of Doha Festival City, which will be Qatar's largest mall upon completion, has awarded a QAR1.65bn ($453m) construction contract. The company said in a statement that Gulf Contracting Company in a joint venture with ALEC Qatar has won the main works contract for the mall. The award... Continue Reading →
New British lingerie label All Undone is thrilled to announce their two new stockists: Edinburgh boutique Odyssey, and new luxury lingerie site Full Disclosure, which will join the brand’s growing team of partners across the UK, the USA and Australia. Catering specifically for the smaller back size, larger cup size market, All Undone is inspired by the luxury of vintage fabrics, showcased within a contemporary design.
Full Disclosure Managing Director, Shirine Modad Neill, said: “It was crucial for us to launch our website with All Undone as part of our portfolio; not only because they cater to larger cup-sized women but because they are offering an equally gorgeous, luxurious and contemporary option that no one else is. All Undone hasn’t re-invented the classics, they’ve started a very cool trend for the DD+ cup-sized market!”
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Along with publication of its annual results, Giorgio Armani announced that it was taking 100% control of its fast-fashion brand A/X Armani Exchange. The Milanese designer launched the mens and womenswear collection in 1991. The young and urban line, consisting essentially of t-shirts, jeans, shirts, etc. is the group’s most affordable and caters mainly to... Continue Reading →
Christian Dior opened this week a new store in Florence, Italy. The new Dior store is located on Via Tornabuoni, the city’s prime luxury shopping destination, within the Medieval Tower of Gianfigliazzi. The store features the complete range of Dior women’s collections. Also this week, Christian Dior inaugurated a leatherwear manufacturing facility outside Florence in... Continue Reading →
Marks & Spencer is facing another setback in its attempts to get its financial performance back on track with the head of the retailer’s international business likely to depart. Jan Heere, who was hired from Inditex, the owner of Zara, in 2011, is understood to be returning to a role in Russia, although he is... Continue Reading →
Pittsburgh - On the heels of disappointing results for the first quarter of fiscal 2014, American Eagle Outfitters Inc. has decided to close 150 stores in America, including 100 namesake stores. For 2014, the company is planning to close approximately 50 American Eagle and 20 aerie stores in North America. Beginning in 2015, the company... Continue Reading →
The new Gucci Cosmetics line will be produced and distributed in licensing by P&G Prestige. The new line will be endorsed by Monaco Royalty Charlotte Casiraghi. The Gucci cosmetics line will include products for skincare, nails and eyes. The new Gucci products will be available at select speciality stores around the world.
Michael Kors has appointed Cathy Marie Robinson as its new senior vice president of global operations. Robinson joined the fashion label from Toys R Us where she was chief of logistics. Before this she worked at Babies R Us, Smart & Final and Wal-Mart. John D. Idol, chairman and chief executive officer at Michael Kors,... Continue Reading →
New Delhi: Marks & Spencer is planning to open 60 more stores in India by 2016 in order to claim a “leadership position” in the domestic retail market. The retailer “plans to open a total of 100 stores by 2016,” M&S said in a statement on Tuesday. At present, M&S operates 40 stores in India... Continue Reading →
Global 2000: The Biggest Retailers Of 2014 http://www.forbes.com/pictures/fkmm45jdee/no-1-wal-mart-stores/?ss=business No. 1: Wal-Mart Stores - Forbes.com Wal-Mart Stores, Inc. operates retail stores in various formats around the world. It operates through three segments: Walmart U.S., Walmart International and Sam's Club. The Walmart U.S. segment includes the company's mass merchant concept in the U.S., operating under the Walmart... Continue Reading →
Clothing yet again proved to be the thorn in Marks & Spencer’s side as profits for the third year in a row fell despite continued progress in its food department. The department store on Tuesday announced a 4 per cent drop in underlying pre-tax profits to £623 million for the year to the end of... Continue Reading →
Prada has recently opened its first store in Austria, in the capital of Vienna. Situated in the heart of the city in the First District, at the corner of Bognergasse and Seitzergasse, the new Prada store in Vienna is housed within the historical palace which also comprises the Park Hyat Hotel Vienna. The store covers... Continue Reading →
Dubai: The luxury label Bulgari has entered a joint venture with Al Tayer Insignia for the UAE marketplace. This upgrades an existing alliance of more than 20 years to the next level. Bulgari currently counts five points-of-sales in the UAE, with two stores located in Abu Dhabi and three spread across key locations in Dubai.... Continue Reading →
Walmart’s new convenience store test concept, Walmart To Go, is located in its hometown of Bentonville, Arkansas. The approximate 2,500-sq.-ft. store is a hybrid. Part grocery store, part c-store and part quick-serve restaurant, it offers a mix of groceries, c-store staples, and refrigerated and fresh prepared foods, complete with a deli counter. Products are priced... Continue Reading →
Asda is axing thousands of middle managers in its stores as part of a big restructuring in which more staff will be employed in e-commerce and grocery home shopping services. The grocer said a consultation with 4,100 senior store staff had begun. It is thought as many as 2,600 will leave rather than accept an... Continue Reading →
Neiman Marcus announced today that Adam Brotman, Phillipe Bourguignon, and Vivek “Vic” Gundotra have been named to the Board of Directors. Mr. Brotman is Chief Digital Officer for Starbucks Coffee Company. In this role, he has responsibility for Starbucks core digital businesses, including mobile and mobile payments, web, card, loyalty, e-commerce, wi-fi, and the Starbucks... Continue Reading →
Premium leatherwear maker Coach will open 30 new stores in China by the end of June 2014, adding to the brand’s existing 147 stores in mainland China, Hong Kong and Macau. Disappointing Q3 sales at the brand’s North American stores contrasted with a 25% sales increase in China. Sales dropped 21 percent for the quarter... Continue Reading →
Operating losses at the Irish arm of UK retailer Arcadia, which sells the Dorothy Perkins and Burton brands, last year totalled £1.54 million (€1.89 million). Accounts filed with Arcadia Group Multiples (Ireland) Ltd to the Companies Office show the firm recorded the loss after revenues decreased from £46.6 million to £19.74 million in the 12... Continue Reading →
Christopher Bailey, the fashion designer and new chief executive of Burberry, has been handed a golden hello in shares worth up to £7.6m and an annual pay package worth up to £8.1m a year, including a £440,000 cash allowance to cover clothing and other items. Bailey, who keeps his role as creative head of the... Continue Reading →
Sears Considers Selling Rest of Its Canadian Business Sears Holdings Corp. (SHLD), the department-store chain struggling to rebound from three years of operating losses, is considering a sale of its Canadian stores. The company may divest its 51 percent stake in Sears Canada, possibly as part of a sale of the whole business, according to... Continue Reading →
Popular American womenswear retailer Chico's just announced its first three Canadian store locations. All three stores will open in August, with more Canadian location announcements to follow. Its first Canadian store locations will be in the suburban Toronto area. Chico's first three Canadian stores will be located in the following malls: Square One Shopping Centre,... Continue Reading →
The retail and hospitality conglomerate launched its ecommerce site two years ago Dubai: Landmark Group, a UAE-based retail and hospitality conglomerate, could adapt “click and collect”, a service which allows consumers to order goods online and collect them in stores, according to the company’s top executive. “We already have a mechanism here to return to... Continue Reading →
New York -- The United Kingdom’s Selfridges was named ‘Best Department Store in the World’ for the third consecutive time by the Intercontinental Group of Department Stores (IGDS). The award was given at the group’s Global Department Store Summit, which was held last week. The event is held every other year. Selfridges was in competition... Continue Reading →
Online auction and ecommerce giant eBay this week announced it is repatriating almost USD 9 billion (GBP 5.3 billion) of its cash held overseas back to the US, as it looks to access funds for potential acquisitions. The statement comes as eBay revealed its first quarter earnings for 2014, with revenues up 14 per cent... Continue Reading →
Montreal-based luxury outerwear brand Mackage will open stores in selected Canadian cities. The company has retained a real estate company to establish its brand across Canada. Despite being Canadian, its first and only free-standing store is in New York City. Designers Eran Elfassy and Elisa Dahan Mackage founded Mackage in 1999. The brand focuses on... Continue Reading →
Dubai-based developer Nakheel has signed a management agreement with UK-based Premier Inn for its new, 372-room hotel at Ibn Battuta Mall, the company announced on Sunday. The hotel is part of Nakheel’s 28,000 sqm expansion of the Ibn Battuta complex and is scheduled to open in 2016. It will have a restaurant, bar, Costa coffee... Continue Reading →
UAE fast food chain Just Falafel has signed a deal to open 57 stores in three European countries, the company announced on Sunday. The new outlets will be in the Benelux region of The Netherlands, Belgium and Luxemburg and will be operated by Wadi Degla Holding, an Egyptian conglomerate that already has 27 Just Falafel... Continue Reading →
French house of Longchamp opened last week in Barcelona its largest store in Spain. Situated on Paseo de Gràcia, Barcelona’s leading luxury shopping destination, the new Longchamp store covers 700 sqm on two floors and features the full range of products of the house, including handbags, accessories and shoes. Robert Travers, Cushman & Wakefield’s head... Continue Reading →
New York -- Ralph Lauren Corp. on Friday announced that Roger Farah, executive chairman, will retire at the end of May. He will remain on the company’s board until his term expires in August. Farah, one of the retail industry’s most respected executives, is credited with turning Ralph Lauren into a global powerhouse. He has... Continue Reading →
Cork-based wholesale grocery group Musgrave recorded a loss of €94.9 million in 2013 largely due to poor trading in Britain. The company was dragged into the red by €141.2 million in exceptional items. This comprised a write down of €131 million on the value of underperforming assets in Britain and costs of €12.2 million associated... Continue Reading →
The handbag brand Radley is planning to take its famous Scottish Terrier logo across Asia after getting sales and profits back on track in the UK. The company, owned by private equity houses Exponent and Phoenix, is in discussions with “multiple partners” about opening franchise stores across the Middle East and Asia, including China. Radley... Continue Reading →
By Scott Campbell5:00PM BST 09 May 2014 Sales of the company’s Superdry brand dropped 1.3pc during quarter four Shares in British fashion retailer SuperGroup tumbled by as much as 20pc on Thursday after the company warned that its full-year profits would be “towards the lower end” of analysts’ estimates. Sales of the company’s Superdry brand... Continue Reading →
Al Meera Bookstore Company, a subsidiary of Al Meera Consumer Goods Company, has announced the launch of three WHSmith stores in Doha. Al Meera Bookstore Company, the exclusive franchise owner of the WHSmith brand in Qatar, said the shops have opened in Hayat Plaza at Al Aziziya, Ezdan Mall at Gharrafah District, and Nuaija Mall... Continue Reading →
American jeweller Tiffany & Co opened this week its new flagship store in Paris. Located at 62, Avenues des Champs Elysées, the new Tiffany store in Paris covers 976 sqm (10,000 sq ft) and is spread over 3 floors. The store features three VIP rooms and one library, one of the VIP rooms will host... Continue Reading →
Aramex plans to roll out a network of parcel lockers across the Middle East and North Africa to support the growth of e-commerce. The logistics giant yesterday said that it had formed a joint venture with Poland’s InPost, which has a parcel locker network across 17 countries worldwide, to establish a parcel network in the... Continue Reading →
Prada opened this week in Geneva its largest store in Switzerland. Situated on Rue du Rhone, the new Prada store covers 1,000 sqm and is spread on two floors. The two entrances on Rue du Rhone invite customers into two very different spaces, one for the women’s collection and the other for the men’s. The... Continue Reading →
Work to begin on Springs monster Shopping Mall Artist's impression of R850m Springs Mall, a 52 000sqm shopping mall to serve the greater Springs area in Ekurhuleni east of Gauteng. Image gallery Development will soon begin at Springs Eco Park on a R850 million Springs Mall, claimed to be the regional shopping centre serving the... Continue Reading →
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