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.
Central Group, Thailand's largest retail conglomerate, launched Central Embassy, a luxury shopping complex in Bangkok last month. In a country with no shortage of malls, Embassy is the most lavish yet. Its 200 stores include swanky brands such as Prada, Hermés and Audemars Piguet. It's bringing Tom Ford, Christian Louboutin and La Martina to Thailand for the first time. Its 37 stories will be topped by a Centara Hotel.
US retail giant Walmart will open around 30 high-quality stores and additional distribution centres in China this year as part of the company's the three-year growth plan announced last October, the world's biggest retailer said on Tuesday. It's also planning to invest around CNY580 million to remodel over 55 existing stores in 2014 to enhance store operations and optimize customer experience.
Indigo Living has opened a a new store on Caine Road, which is part of a move that will see its home designs and new interior trends more in the territory and across China and the United Arab Emirates.
The new stand-alone store on Caine Road is strategically located in the sophisticated Central neighborhood, minutes from Soho’s boutiques, and borders historical landmarks and luxurious new developments.
Vipshop, a Chinese online retailer that sells quality branded items at discount, on Wednesday reported better-than-expected results for the first quarter ended on 31 March 2014. Total net revenues surged 125.9 percent over the prior year period to USD701.9 million, primarily driven by growth in the number of active customers and total orders. Active customers grew 129.3 percent from 2.8 million to 7.4 million and total orders rose to 20.2 million from 8.8 million last year.
Rural areas are a promising market for Vietnamese retailers as they face intense competition from foreign businesses, especially given the full opening of the retail market from next year.
Mai Thi Tuyet Hoa, director of Niesel Vietnam's Research Department, said at a conference on the country's retail sector held in Ha Noi last Friday.
Burberry recently opened its new flagship store at the Kerry Centre. It is the brand's eighth store to open in Shanghai, following recent openings within L’Avenue, K11 Art Mall and Hongqiao airport in 2013.
Australian fashion retailer Premier Investments will focus on shop upgrades and concepts, a larger network of click-and-collect websites and new distribution centres as it prepares for the next arrival of international fashion brands.
In its first-half result for the year, the group, which runs Smiggle, Portmans, Dotti, Jacqui E, Just Jeans and Jay Jays, said the group had opened four shops and closed 13, reflecting its strategy of opening in high-value locations and closing in those where the rent was too high.