French retail and luxury group PPR on Friday posted forecast-beating first-half sales and profits, pulled by the strong growth of its luxury brands in major markets such as China.
The owner of Fnac retail chain and Yves Saint Laurent and Gucci luxury brands posted recurring operating income of EUR749 million (USD1.08 billion) on revenues of EUR7.22b for the six months to 30 June.
French luxury house Hermès inaugurated on Wednesday its first major flagship store in India, in the heart of Mumbai. The Hermès store is housed within a beautiful Victorian building, with a corner location in Horniman Circle, steps from the historical Fort area.
It is the first international luxury brand to open a street level stand alone store in Mumbai, most other international luxury brands being situated within malls and shopping galleries within hotels.
With so many millions of shoppers online, how do you win the Chinese consumers' hearts when it comes to luxury products? Seeing the country's strong demand for luxury products and the growth potential of Business to Customer (B2C) commerce, Francis Gouten and his partner Remi Chabrat launched a luxury e-commerce website The Luxury Club (TLC) in June. With more than 35 years of experience in the luxury business, Francis Gouten is well-connected with all major players in the luxury market from distribution to real estate.
Amid great fanfare, Taiwan's three major mobile operators yesterday opened flagship stores in the bustling Xinyi District of Taipei, setting the stage for intensified competition in which operators will amass users with low rates and advanced services.
Taking Stock: How to enhance your retail efficiency and customer service with hi-tech supply chain tools
When it comes to retailing, there are many potential issues and problems that can turn a profitable business into one that is struggling to stay afloat. To stay competitive, one very important consideration is of course improving your customer's overall experience whilst maintaining optimum stock management efficiency in store. Retail in Asia caught up with Andrew Tay, president of Zebra Technologies Asia Pacific to find out just how retail efficiency and customer experience can be improved by starting with the inventory.
Flat-screen maker LG Display posted on Thursday its third consecutive quarterly loss as depressed demand from television makers outweighed roaring growth in sales to its major tablet – and smartphone-screen buyer, Apple.
Panel makers are bracing for a weaker-than-usual seasonal demand pickup in the second half, as an uncertain global economy further slows TV demand.
Growth prospects for LCD TV panels are dim because many households in developed countries have already traded their bulky TV sets for flat-screen TVs and have more than one LCD TV set.
Hong Kong ranks as the most popular location for global businesses, with 68.2 percent of the world's major international companies having a presence in the city.
That finding is contained in the latest "Business Footprints" survey by property consultancy CB Richard Ellis, which also found an increasing trend among global companies to open offices throughout the wider Asian region, reflecting a shift in global economic power.
The robustness of the Major Domestic Appliances (MDA) industry in Southeast Asia brought in sales totaling more than USD2 billion in the first five months of 2011 – a 10 percent growth compared to the same time period last year. According to market research company GfK Asia, the six key markets of Singapore, Malaysia, Thailand, Vietnam, Indonesia and the Philippines reported over 7.2 million units of air-conditioners, refrigerators, washing machines, and microwave ovens being sold since the beginning of the year.
Several major ramen noodle chains whose business was impacted by the earthquake and tsunami in Japan are eyeing expansion in Hong Kong and China to help make up for lost volumes back home.
In what seems a never-ending international expansion of luxury especially in major emerging markets has definitely served its financial purpose for most brands, which have seen their distribution networks, in some cases, even double especially in the past five years. For a select few which have been expanding with direct operations such as Louis Vuitton, implementing the brand's DNA in each market has been easier than for the majority of brands which have been expanding with franchising, joint venture or wholesale.