Top Italian beauty brand Korff Milano enters UAE UAE Business • • • • Korff Milano, a leading Italian company known for its upmarket beauty solutions in the pharmaceutical industry, has announced its foray into the UAE market in partnership with BinSina Pharmacies. The premier European make-up brand marked its UAE debut with an exclusive... Continue Reading →
Introducing Nyden: H&M’s new affordable luxury brand H&M has announced it will be adding another brand to its portfolio in early 2018 aimed at millennials and co-created with “influencers”. The first /Nyden influencers will include Instagram-famous tattoo artist Doctor Woo and Swedish actress Noomi Rapace. The aim of working with influencers is to ensure the... Continue Reading →
US giant Apple said to be in talks to open first Saudi stores Tech major is reportedly in licensing talks with Riyadh; first Apple store could open in 2019 US tech giant Apple is reportedly in licensing talks with Saudi Arabia with a view to open its first stores in the Gulf kingdom. The maker... Continue Reading →
H&M’s Group newest brand, Arket, is set to open its third store in London next spring as the Swedish retail group continues to roll out its latest store concept. Set to open in spring, 2018, the store will be located in Westfield Stratford City. The third UK Arket store opening comes after the brand’s debut... Continue Reading →
Dec 11, 2017 “2018 will be the year of flagships, six of them, either brand new stores or major re-openings, which will be very impactful,” says Bruno Pavlovsky, the president of Chanel’s fashion and accessories divisions. And the destinations are all major ones. From New York, a new boutique on 57th street to a new... Continue Reading →
Christo Wiese. Photographer: Waldo Swiegers/Bloomberg South African retail tycoon Christo Wiese dropped from the billionaire ranks earlier on Thursday after the stock of Steinhoff International Holdings, the retail conglomerate where Wiese serves as the chairman, fell 80% in the course of two days. The company’s shares plunged after its CEO, Markus Jooste, resigned due to accounting irregularities,... Continue Reading →
The arrival of Amazon in Australia poses a threat to a market already grappling with weak consumer confidence amid tepid wages growth© AFP/File LEON NEAL US internet giant Amazon launched in Australia Tuesday in time for Christmas, with retailers scrambling to cut costs and boost their online offerings as they brace for an expected shake-up... Continue Reading →
• News comes ahead of the busy Christmas period, a crucial time for high street • Stores will remain open during the Christmas period and into the New Year • In September, the company’s US arm filed for bankruptcy protection Toys R Us is preparing to shut a quarter of its UK stores, with the... Continue Reading →
Image Credit: Atiq-ur-Rahman/Gulf News Dubai: Nike is planning a major overhaul of its retail offering in Dubai, according to four people familiar with the matter, with a huge new store slated for 2018. The world’s biggest sportswear maker will open a Niketown in Dubai Mall sometime next year, said the individuals, who asked not to... Continue Reading →
Galeries Lafayette has unveiled a new flagship store at the heart of the new extension to the Carré Sénart shopping centre in Paris. The opening marks the first significant addition to the Galeries Lafayette network of 56 stores in France in the past few years, and the new store concept is intended to be experience-led,... Continue Reading →
The chief of Uniqlo’s parent company Fast Retailing is to retire from the company he founded when he turns 70 in 2019. Tadashi Yanai told the Japanese financial publication The Nikkei on Friday he is due to retire, but will continue as chairman of the company, stating “there is no such thing as retirement for... Continue Reading →
Hugo Boss has launched its first digital showroom in Berlin, Germany, marking a shift in the company's strategy. The German fashion brand presented its Hugo pre-fall collection for 2018 at a pop-up space in Berlin to showcase its digital showroom last week. Via a 65 inch touchscreen, which resembles a table, viewers were able to... Continue Reading →
The Al Habtoor Group is proud to bring together two world-class brands under one roof, Bentley, and St. Regis Dubai Polo, the world’s first ever equestrian resort located at the Al Habtoor Polo Resort and Club. The brainchild of Mr. Mohammed Al Habtoor, Vice-Chairman and CEO of Al Habtoor Group, the idea of building the... Continue Reading →
London - The man who has been credited with transforming Burberry into the UK's leading luxury fashion house is set to leave his role. President and Chief Creative Officer at Burberry, Christopher Bailey, is set to leave the company by the end of 2018, marking the end of his 17-year tenure. The heritage fashion house... Continue Reading →
He will join the audit and remuneration committees and will become chairman of the audit committee in January 2018 when Mark Rolfe steps down from the Debenhams board. With 30 years retail experience, Adams is a former finance director and deputy chief executive of House of Fraser and has also been chairman of Jessops and... Continue Reading →
The firm's chief executive, Muchiri Wahome, says the move comes after South Africa-based Mr Price Group Ltd approached Deacons with a proposal to purchase the chain of stores. “The proposed transaction will be subject to various conditions that include requisite approvals from regulatory authorities and the shareholders of Deacons through a shareholders’ meeting to be... Continue Reading →
Swedish fashion retailer H&M said third-quarter profits were adversely affected by heavy discounting of the retailer’s summer collection, in a bid to boost sales over the warmer months. The world’s second-largest clothing retailer said net profits fell 20 percent in the three-month period ending August 2017. Net profit in the third quarter fell from SKr4.8bn... Continue Reading →
Italian luxury house of Gucci has recently opened a new children’s clothing store in Dubai at the Dubai Mall. The store features Gucci Creative Director Alessandro Michele’s signature style. The store stocks the complete range of products for kids of the brand.
Fitness brand Sweaty Betty has opened its first European flagship at No. 1 Carnaby Street in London. The prominent 204 sq m store is located at the south entrance to Carnaby Street and is the result of the brand upscaling from its existing store on Beak Street where it has been a resident since 2002.... Continue Reading →
Topshop and Topman New Zealand to close stores Topshop and Topman New Zealand are closing its Auckland and Wellington store after a failed attempt to find a buyer for the fast-fashion retailer. Topshop and Topman is operated by Top Retail in New Zealand, with the firm entering voluntary administration in early September on the back... Continue Reading →
Hyundai Department Store announced that it will open COS brand mall at The Hyundai.com. COS also launched the official online store in Korea. Price at online mall is the same as the offline mall. COS is a fashion brand that offers a collection of high quality at reasonable prices based on modern and practical design.... Continue Reading →
CEO Jeff Bezos has allocated $5 billion toward Amazon's expansion in India Amazon.com is set to buy a 5 percent stake in Indian retailer Shoppers Stop, valued at $27.6 million (1.79 billion-rupee), as the US company steps up efforts to gain ground in the fast-growing consumer market. Shoppers Stop’s board approved the issuance of 4.4... Continue Reading →
Max Mara opens redesigned flagship store in New York at Madison Avenue The opening event of the Max Mara flagship in New York unveiled not only the stunning reimagined space, but saw the release of a special edition mini Whitney Bag. While the bag boasts vibrant, jewel-tone colors and a luxe velvet material, the newly... Continue Reading →
Toys 'R' Us forced to file for US bankruptcy September 20 2017 2:30 AM 1 Toys R Us Stock US retail giant Toys 'R' Us filed has for bankruptcy, under a debt load piled on the business in a private-equity buyout a decade ago. The company listed debt and assets of more than $1bn each... Continue Reading →
Following the openings of Arket and Weekday on London's Regent Street in August, parent company H&M has announced plans to open two new Monki stores, one at Westfield Stratford and the other at Buchanan Galleries in Glasgow. Both stores will adopt the Monki World concept, leading customers into an imaginery universe that has inspired 115... Continue Reading →
UK retail giant Marks & Spencer reportedly in discussions over deal for Hong Kong and Macau operations UAE-based conglomerate Al-Futtaim is reportedly in talks with UK retail giant Marks & Spencer for the possible purchase and franchising of its business in Hong Kong and Macau. The UK's Financial Times said the talks could see Al-Futtaim... Continue Reading →
The ew store is part of the first phase of The Knightsbridge Estate K1 development (1, Sloane Street) and will see Burberry relocating its local flagship from nearby Brompton Road where it currently trades from twin men’s and women’s shops. The new move to a site not far from Harvey Nichols will give it the... Continue Reading →
British handbag and accessories brand Radley is set to return to the American market, following its withdrawal six years ago, after signing an exclusive deal with US department store chain Macy’s. The deal, will see Radley opening concessions in 100 Macy’s stores by Christmas, with as many as 300 possible within the next 12 months,... Continue Reading →
The chief executive of New Look is to step down just over two years after his turnaround of the high street fashion chain paved the way for its £2bn sale. Sky News has learnt that Anders Kristiansen is to leave the company, which is majority-owned by South African investor Brait, in the coming weeks. His... Continue Reading →
Abercrombie & Fitch to open first store in Jeddah as part of Middle East expansion0The new store will launch in the Red Sea Mall in September and will offer the brand’s Autumn/Winter collection for men, women and children.The expansion is part of a franchise agreement between Majid Al Futtaim Fashion and Abercrombie & Fitch.Majid Al... Continue Reading →
Swedish fashion and lifestyle brand Arket, from the H&M Group, has unveiled its long-awaited debut flagship store on Regent Street, ahead of its official opening on Friday, August 25.Located within the unit that once house Banana Republic, Arket has transformed the 17,000 square foot space into a calm, modern and very grey environment, with bespoke... Continue Reading →
Shoprite, Africa's largest food retailer, wants to expand to new continents and is eyeing Poland as its gateway to Europe, the Puls Biznesu daily has said, adding its scepticism.Photo: Lars Frantzen/Wikimedia Commons (CC BY-SA 4.0)Shoprite CEO Pieter Engelbrecht, who visited Poland last week and is in talks with two developers, said entering Eastern Europe would... Continue Reading →
International sunglasses retailer Sunglass Hut opened a new store in Hangzhou's Intime Wulin store, which is the brand's third store in the city following the ones in Hangzhou Kerry Centre and Hangzhou Bailian Outlets.Sunglass Hut has reached cooperation with many first-tier brands, including Ray-Ban, Prada, Dolce & Gabbana, Burberry, Tiffany & Co., and Coach.It started... Continue Reading →
• Underlying operating profit slumped 60%• UK like-for-like sales dropped 7.5%• Overall revenue down 4.4%The fashion retailer recorded a 4.4% drop in revenue to £338.7m in the 13 weeks to June 24, exacerbated by a 7.5% plummet in UK like-for-like sales.The retailer’s underlying operating profit plunged 60% to £12.1m whilst EBITDA fell 37% to £27.2m,... Continue Reading →
J.C. Penney is the bearer of more bad news for department-store investors.On Friday morning, the company followed Macy’s Inc., Kohl’s Corp. and Dillard’s Inc. in reporting declining sales in the second quarter. J.C. Penney also posted a deeper loss than analysts expected -- hurt by clearance sales -- sending the shares on their worst decline... Continue Reading →
The Camuto family will continue to own and operate its apparel businesses following the acquisition.Aldo, which is also a family business, said the purchase will increase both companies' capabilities and reach, and enhance their ability to offer the widest selection of footwear, handbags, and accessories through all channels, including owned stores, franchise, online and wholesale. David... Continue Reading →
Australian homewares specialist House is plotting an assault on the UK market, Retail Week can reveal.House, which is owned by Global Retail Brands, has thrown down the gauntlet to the likes of Lakeland and John Lewis with plans to open 75 stores within the next three years.It aims to open its first tranche of shops... Continue Reading →
American Eagle Outfitters has around 950 stores in the US and targets 15 to 25-year-olds with affordable, preppy fashionUS fashion retailer American Eagle Outfitters is pulling out of the UK less than three years after opening its first stores on British soil.Of its three UK shops, the company is said to have closed one - in... Continue Reading →
LVMH’s Louis Vuitton launches e-commerce website in ChinaFrench fashion brand Louis Vuitton, part of luxury giant LVMH , said on July 21st it had launched an e-commerce website in China to tap a booming online shopping market.Louis Vuitton, which opened its first store in Beijing in 1992, said the website offered leather goods, small leather goods, shoes,... Continue Reading →
Tmall has carried the Hollister brand since 2014 and from 26 July will also include a full offering of Abercrombie & Fitch and Abercrombie Kids products.In a statement, Abercrombie said the fact that 75% of Alibaba’s users are under the age of 35, and around 80% of its gross merchandise value takes place on mobile,... Continue Reading →
Michael Kors plans to open around 100 new stores in China in next three years, as the US brand continues to plan for mass global retail closures, forming part of its recently revealed “Runway 2020” restructuring program to turn dwindling sales around. Michael Kors’ initial restructuring announcement came in early June, after the brand posted... Continue Reading →
Swarovski Perth flagship store opening Australia - Retail in Asia Crystal maker and jeweller Swarovski has opened its Perth flagship store, the second store in Australia to feature the brand’s crystal drop chandelier, as part of its new retail design. Located in Perth Hay Street Mall, the new Western Australia store boasts Swarovski’s new ‘crystal... Continue Reading →
Shares of Starbucks Corp. sank Wednesday to an eighth straight loss, after a Wedbush Securities analyst downgraded the coffee giant for the first time, on concerns that investors may be too optimistic about the sales outlook. The stock SBUX, -1.07% shed as much as 1.7% intraday before closing down 1.1%, after tumbling 5.6% over the... Continue Reading →
Announcing its first set of 12-month results since moving the company’s financial year end date to March 31, Global Brands Group said that it achieved a solid performance despite a tough business environment. During the reporting period, the group revenue increased by 11.6 percent to 3,891 million dollars. The company’s total margin improved from 33.9... Continue Reading →
Amazon has once again been named the world’s most valuable retail brand in the annual BrandZ Top 100 Most Valuable Brands ranking published by WPP and Kantar Millward Brown. The online giant took fourth spot in the ranking behind technology firms Google, Apple and Microsoft, but Amazon did achieve the highest dollar value growth of... Continue Reading →
As H&M braces for the opening of its first Arket store, it is already putting a plan in motion for its second location. The fast-fashion chain announced in March that is plans to launch its new brand, Arket, in early fall. Arket, H&M’s first new brand in three years, will feature merchandise men, women and... Continue Reading →
British outdoor and leisure clothing brand Regatta Great Outdoors is making its US retail store debut exclusively at Sears with 11 shop-in-shop locations through the New England area. "We chose Sears for our American debut because their customers align well to the type of enthusiasts who have fallen in love with the Regatta brand in... Continue Reading →
US fashion brand J.Crew has announced its long-standing chief executive Mickey Drexler is to step down. The retail veteran who helmed the company for 14 years will stay on as chairman while former president of West Elm, Jim Brett, steps in to take over the role. The surprise announcement follows recent news that the company’s... Continue Reading →
The Foschini Group could be bringing some of its 22 brands to Australia: What will land first? Aussie retailers could soon see yet another influx of new competition, with South African retail giant The Foschini Group (TFG) saying it’s considering bringing some of its 22 retail brands Down Under. Speaking to Fairfax, TFG chief executive... Continue Reading →
Sears is closing 72 more stores, in addition to the more than 180 that have already been announced this year. The company released a list internally on Tuesday of the closing stores, which includes 16 Sears stores, 49 Kmart stores, and seven auto centers. Most of the stores will close in September. Sears did not... Continue Reading →
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