The suburbs in Sydney are the next destination for international retail brands, with Sweden's H&M, Japan's Uniqlo, Spain's Zara and the US Gap labels all moving into the newly redeveloped Macquarie Centre in North Ryde.
Once the AUD440 million refurbishment of the mall is completed, it will be home to the most large-format international high street fashion brands of any Australian shopping centre. A fifth brand, possibly Forever 21, is said to be announced in the coming weeks.
US retail chain Walmart will replace three of the wholesale stores set up by French group Carrefour in India with its own, sources said.
Carrefour had in July announced it was exiting the India market. It has only a small team left in the country, to conclude the commercial and regulatory transactions. All senior officials, including the then India managing director, Jean-Noel Bironneau, have returned to France.
With annual global revenue of EUR100 billion (USD129.42b),
Major online shopping mall operator Rakuten Inc. is finalising negotiations to acquire major US cashback shopping site operator Ebates Inc., informed sources said on Saturday.
Rakuten aims to expand its overseas operations, mainly in the United States, through the acquisition of Ebates, the sources said. The deal is estimated to exceed USD1 billion, the sources said.
Macy's has apparently set its sights on China in its ongoing efforts at international expansion.
Terry J. Lundgren, Macy's chairman and chief executive officer, has been eyeing China for a while, planning on either opening a Macy's department store or a series of specialty stores featuring popular in-house brands like Alfani, American Rag, Material Girl, Charter Club, and INC.
Sir Philip Green's Topshop and Miss Selfridge brands are to push into China with an agreement to launch on the ShangPin.com fashion retail website next month. Sir Philip has long held the ambition of taking Topshop into China and already has two stores in Hong Kong.
The retail billionaire said: "As we continue to grow our global expansion, this will be a step forward using the power of China's online reach and therefore selling into one of the world's most exciting consumer markets."
When two young graduates of the Indian Institute of Technology-Delhi in 2007 launched Flipkart, an Amazon-inspired online book store, few Indians had ever bought anything other than airline tickets over the internet.
As a pioneer in the business, Flipkart had to wrestle with obstacles ranging from customers' reluctance to give credit card details online – or even a lack of credit cards at all – to suspicions that goods would never arrive.
Taking note of sartorial leaders in the United States and Europe, the Indonesian fashion industry is starting to realise the opportunities of e-commerce in high-end design and ready-to-wear retail.
Though the new shopping territory is still largely uncharted in Indonesia, a few product pioneers are already testing out the internet market. Their customer base, however, is still several steps behind. Shopping online, from the comfort of home, is not yet seen as an upgrade – or even as an alternative – to shopping in a store.
Apple opened a new store in Chongqing Municipality in southwest China on Saturday, bringing the number of Apple stores in the Chinese mainland to 11.
Another Apple store is expected to be opened on 2 Aug. in Wuxi City in east China's Jiangsu Province, about a one-hour drive from Shanghai. Apple CEO Tim Cook said last year the company will open more than 25 stores in China in the future.
Switzerland-based watch chain Swatch has made a formal proposal to the commerce ministry to set up stores in India under the 100 percent foreign direct investment (FDI) route, it is learnt. The watchmaker, with estimated annual sales of about USD10 billion, is the biggest international group to apply for an entry into India's single-brand retail segment with full control, after Swedish furniture maker IKEA and fashion clothing company H&M.
The development coincides with French supermarket chain Carrefour's exit from the country.
Qeelin, a Hong Kong-based high fashion jewelry brand has plans to double their mainland locations in China in just two years. The brand, which was bought by Kering in December 2012, will be debuting its first high-jewelry collection on 30 June. Guillaume Brochard, the cofounder and CEO of Qeelin disclosed to Women’s Wear Daily that Kering’s acquisition of the brand has proven very beneficial for both partners. “Joining Kering has allowed us to go further and faster, namely in the development of the collections,” he said.