According to Cushman & Wakefield, at least 40,000 square feet of new retail supply is coming up in luxury hotels throughout India. The list of upcomong luxury retail spaces include:
High-end retail chains are increasingly looking at existing and new hotels to house their brands in India, according to experts tracking the sector. While some brands have traditionally been located in five-star hotels, retail chains were seen opting for malls in the last few years. However, absence of quality real estate is once again pushing retailers, especially the luxury and niche brands, into the cool comfort of hotels.
GPO, Melbourne's premier shopping destination for leading contemporary fashion, is set to undergo another costly redevelopment as the USD81-million premium retail centre battles competition from the new Emporium centre under construction nearby on the old Myer site. But owner ISPT said the GPO was "not closing" and would "definitely not" become a hotel, denying claims on social media that the retail precinct was "dead" and plans were under way to transform the heritage-listed property into boutique accommodation.
Hong Kong shopping malls reported an influx of customers, bringing strong sales, over the Lunar New Year but smaller shops said trade had dipped as Hongkongers tightened their belts at the start of the Year of the Snake.
Italian premium leather goods and fashion accessories retailer Furla is opening over 100 boutiques in Greater China in the next four years. The plan is to set up stores in more than 40 cities.
Furla has teamed up with the Fung Group through Fung Capital Asia, the private strategic investment arm of the families of Victor and William Fung, to tap the growing demand of Chinese consumers for high-end products.
With Walmart sidetracked by a corruption probe, it looks like IKEA, the Swedish furniture giant, will be the multinational to bring in the largest retail investment to the newly reformed, massive, messy Indian market.
China will not only be the world’s largest luxury market by 2015, it will also be the world’s largest online retail market according to The Boston Consulting Group. Projections show that online sales will hit USD350 billion.
The top Chinese e-tailers to emerge include: Shangpin, Jiapin, Xiu, Omei, The Corner, and Glamour Sales.
Retail sales of consumer goods rose 15 percent to CNY800.6 billion (USD127.2 billion) on the mainland during the eight-day "golden week" holiday that ended on Sunday, surpassing industry expectations.
The Ministry of Commerce said the retail sector, restaurants and tourism all saw robust growth during the Mid-Autumn Festival and the National Day holiday between 30 September and 7 October.
Shopping experience is a retailer’s biggest differentiator, according to a study commissioned by Motorola Solutions. The study, surveyed 250 US-based retail executives, indicated 74pc of the respondents stated developing a more engaging in-store customer experience is going to be business critical in the next five years.
But such shopping experience is extended beyond the store environment. The survey also found half of the surveyed executives indicated integrating their online and in-store experience would be crucial by 2017.
Samsung on Friday said it is aiming to capture a larger share of the consumer segment for IT products like laptops and printers as it expands its retail presence in India to over 1,000 outlets.