Denmark-based fashion house Bestseller, which owns Vero Moda, Jack & Jones and Only, recently snapped its four-year-old franchisee ties with its Indian partner, Bombay Rayon's Prashant Agarwal. Bestseller, owned by Danish billionaire Anders Povlsen and family, is the latest in a series of such splits.
The Lunar New Year holiday is now underway, a time when a big part of the 110 million Chinese expected to travel abroad this year will be packing their bags – and their wallets – for luxury expeditions.
Australia's largest retailer of consumer electronics products announced plans of listing on the Australian Securities Exchange (ASX).
Dick Smith Holdings Limited (Dick Smith) lodged the prosecutes for the Initial Public Offering (IPO) with the Australian Securities and Investments Commission (ASIC) on Thursday.
Based on a share price of AUD2.20 per share, the company expects the offering to raise AUS344.5 million (USD).
Chinese shoppers are cutting back on designer duds, leather handbags and pricey watches, putting a drag on global sales of luxury goods, which a study forecasts to expand just 2 percent this year.
The analysis released Monday by Bain & Company estimated 2013 luxury sales at EURO217 billion (USD300 billion), up from EURO212 billion (USD288 billion) in 2012. The increase is a fraction of the double-digit growth enjoyed the previous three years.
Australian retailer Premier Investments is taking its children's brand Smiggle to the UK as it forecasts a sluggish Australian retail environment.
The aggressive growth strategy for Smiggle, and the continued expansion of its Peter Alexander pyjama brand, comes as its largest businesses – Just Jeans and Jay Jays – suffer a fall in sales.
Japan's Seven and I Holdings Co Ltd, owner of the 7-Eleven convenience store chain, posted a 9.5 percent rise in first-quarter profit which was its highest on record for the traditionally dull March-May period.
Japan's biggest convenience store operator, buoyed by an expansion of its store network, left its full-year operating profit forecast for the year to February unchanged at a record JPY340 billion (USD3.41 billion), in line with forecasts.
During the China Daily Asia Leadership Roundtable, a co-branded session with the Omni Channel Retailing Conference at Retail Asia Expo 2013, a panel of four leading retailers and retail space asset managers shared their views on a variety of issues facing retailers in Asia today.
Two specialty store chains are preparing strategies to respond to fiercer competition in Thailand's health and beauty sector.
Central Watson Co, the local operator of Watsons specialty stores, plans to spend THB350 million (USD11.8m) to open 50 new stores, renovate existing stores, build brand awareness and manage customer relationships.
Archrival Boots Retail (Thailand) Co plans to open 30 outlets this year and revamp its Botanic line, one of its best sellers.
With flagging sales in their mainland stores and increasingly price savvy consumers, luxury companies are taking a leaf out of casinos' play books by offering junkets to wealthy Chinese clients eager to splurge in their Hong Kong stores.
Upmarket brands are increasingly holding private events in Beijing or Shanghai for an exclusive clientele - events where they pay deposits on items in the mainland and then are flown on an all-inclusive trip to Hong Kong to complete the purchase.
Asia-Pacific overtook Europe to become the largest regional luxury goods market in 2010. The trend continued in 2011, with record growth of over 20 percent overshadowing the more mature markets of Europe and the Americas, new research from Mintel showed.
The study on the international luxury goods market found that Asia-Pacific accounted for 36 percent of the global luxury consumer goods market, followed by Europe (35 percent), Americas (26 percent and the other regions, including the Middle East, Africa, and India (4 percent) in 2010.