Inside Retail Asia latest international news including global trends and shifts, international changes in policy and offshore movements within the retail sector.

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Neiman Marcus enters bankruptcy protection, rival set to follow

High-end US department-store chain Neiman Marcus entered bankruptcy protection overnight and there are reports that rival Lord & Taylor is planning to follow.

Victoria’s Secret sale cancelled; company to be spun off

The ongoing saga of Victoria’s Secret’s survival took another significant turn overnight as parent L Brands confirmed the deal with private-equity company Sycamore Partners was cancelled and it now plans to spin the business off.

J Crew enters bankruptcy, weighed down by US$2 billion of debt

US fashion retailing icon J Crew has collapsed under the weight of US$2 billion of debt and with all of its 492 stores closed due to the Covid-19 epidemic.

Lavazza China's Shanghai flagship

Lavazza launches in China, teaming up with Yum Brands

Fast-food chain and restaurant operator Yum China has partnered with Italian coffee company Lavazza to develop a network of coffee shops across the country.

Noiseless digital product sales surge as consumers seek silence

Noiseless digital products are growing in popularity as more people are expressing frustration over noises caused by home appliances.

Few consumers plan to shop as soon as coronavirus lockdowns end

Just one in five consumers is likely to head straight for the shops as soon as their respective coronavirus lockdowns end, according to data released by finance services firm Jefferies.

Ikea China stores record strong footfall as life eases back to normal

Furniture and homewares giant Ikea is reporting a quick return of customer footfall to its stores in China as they reopen after the Covid-19 crisis.

Covid-19 blunts tremendous growth of footwear brand Skechers

US footwear brand Skechers has reported a modest 2.7-per-cent drop in first-quarter sales brought on by the coronavirus outbreak – and painted a rosy picture of life beyond the coronavirus crisis.

Burberry management take pay shave as luxury brand keeps staff on payroll

Senior management of British luxury fashion house Burberry have taken a voluntary pay cut and the company has opted to retain base pay for all its employees during the Covid-19 crisis, without relying on UK government support for jobs.

Facebook invests US$5.7 billion in India’s Jio Platforms

Facebook has paid US$5.7 billion for a 9.99-per-cent stake in Indian telco and e-commerce enabler Jio Platforms, becoming the largest minority shareholder in the Reliance Industries-controlled company.

Cath Kidston to close UK stores, focus on Asia, wholesale and online

British home-furnishings and apparel retailer Cath Kidston will permanently close all 60 of its stores in the UK, realigning itself as a wholesaler and online brand.

Sales of Galaxy S20 underwhelm amid pandemic

Sales of Samsung Electronics’ latest flagship series Galaxy S20 are hovering below those of its predecessor as the global new coronavirus pandemic has led to a slump in demand for consumer products, industry sources say.