The Hefei ID Mall, a 170,000-square metre retail and office development project, is set to rise in Hefei, Eastern China in 2015.
Designed by global architecture, urbanism and design practice Broadway Malyan, the shopping mall will take up 110,000 square metres of the property across six levels. It will also have a 60,000 square metre high-grade office space in a 150 meter tower.
Starbucks opened its 30th store in India on Saturday - a flagship store in Bangalore located opposite Raheja Arcade Koramangala.
The store is spread over approximately 3,000 square feet and the store design takes inspiration from the architectural style and tradition of the Bangalore Bungalow. It also pays tribute to the significance of its location in Karnataka – the birthplace of coffee in India.
Miu Miu is pursuing its development in Asia with the expansion and transformation of its Hong Kong flagship store.
The prestigious 1,000 square-metre outlet on Peking Road carries the complete brand’s collections of ready-to -wear, footwear, handbags and accessories.
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).
The mainland's online shoppers set another record on Monday as major retailing websites offered massive discounts on Singles' Day. Taobao and Tmall, the two main online retailing platforms of Alibaba Group, smashed last year's combined record of CNY19.1 billion (USD3.1 billion) sales for the whole day in the first 13 hours yesterday. By 9.20 p.m., the total exceeded CNY30 billion (USD4.9 billion), the company said on its weibo account.
In an effort to bridge the gap between the online and offline shopping worlds, China's Single's Day online shopping festival is expanding this year to traditional stores.
Alizila, the news website of the Alibaba Group, reported that a number of brands on Tmall are extending their promotional actives to some 30,000 physical stores.
By encouraging shoppers to visit stores to touch, feel and try out the products, retailers hope to encourage sales. However, they can still opt to buy the goods online.
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.
With signs of enthusiasm for established brands waning in China, less recognized independent brands believe it may be their time. At least, dynamic duo of retailer Opening Ceremony and current Kenzo creative directors Humberto Leon and Carol Lim think so.
Taubman Asia officially announced the groundbreaking of the Hanam Union Square shopping center, a 4.5 million square feet GFA mall in Hanam City, Gyeonggi Province, South Korea.
Co-developing the site are Taubman Asia and Shinsegae Group, Korea’s leading luxury department store retailer.
David Jones and Myer face big challenges as they deal with lacklustre consumer demand in Australia, a shift in household spending away from merchandise to what the retailers call experiences – lattes instead of crockery, say, or a plane ticket instead of a new suitcase – and the expansion of internet retailing.
They are, however, making a pretty good fist of a task that many observers believed would be beyond them. The price gap between them and overseas online retailers is closing, and it seems it is doing so without creating a profit sinkhole.