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.
Food halls and restaurants are now taking over as the more prominent tenants in Australia's shopping centres, by size of leased area and the amount of high-margin revenue generated.
In all new developments and revamps of malls nationally, the footprint of the food and leisure offering is becoming much bigger than that being offered to the traditional apparel and footwear.
After reporting losses of close to USD200 million in the holiday quarter, Radio Shack, the US chain of electronic retail stores, announced last week that it would close a fifth of its 5,000 stores. Competition from online majors, especially the largest in the world, Amazon, is said to be behind the decline of Radio Shack and many others across product categories.
EC Harris, the leading global built asset consultancy, has joined forces with inProjects, one of Asia’s foremost project management firms. The addition of inProjects strengthens EC Harris’s presence in Asia and creates the region’s leading programme and project management delivery organisation.
The world's biggest luxury brands are slowing their expansion in China as more consumers shop abroad, leaving mall operators holding the bag. However, lower-priced fast-fashion brands such as H&M and Zara beat expansion goals.
The mid-market retailers are expanding fast, but they are not expanding fast enough to fill all of the shopping centres, according to James Hawkey, an executive at commercial property services group Cushman & Wakefield.