department store Archives - Inside Retail Asia

Hudson’s Bay Company to sell Lord + Taylor for US$100m

Hudson’s Bay Company (HBC) has announced plans to sell its US department store chain Lord + Taylor to Le Tote, a clothing subscription and rental business, for US$100 million ($149 million). The decision, announced Wednesday, August 28, will enable the Canadian retail company to focus on its other department store businesses: Saks Fifth Avenue and Hudson’s Bay. HBC, which also ow…

Kikki.K to launch in Nordstrom stores across US

Upmarket stationery chain pens deal with luxury department store retailer.

Japanese department stores target foreigners

Japan’s department stores are making moves to lure foreign shoppers. Department store operators are anticipating an increased demand for cosmetics, food and other products from foreign shoppers after those items were granted duty free status, The Japan News reported. Matsuya, for example, is setting up a duty-free counter at its Ginza store and is boosting its Japanese sake collection, a popular gift item. Takashimaya hopes to attract Muslim shoppers by including a Muslim prayer room at…

Shin Kong boosts China footprint

Taiwanese department store chain Shin Kong plans to ramp up its presence in China. Shin Kong says it will open a company-owned department store in Suzhou City, Jiangsu Province, in the first quarter next year, Chengdu City, Sichuan Province, in the second quarter next year and Chongqing City, also in Sichuan, in the third quarter of 2016. The company said the Suzhou department store is already 70 per cent tenanted. It also says the Taiwan business is strong and growing having gained $1.…

Parkson opens Jakarta d-store

Department store operator Parkson has opened its second Indonesian location. The 16,374 sqm Parkson department store is located inside Lippo Mall Puri, St. Moritz, in West Jakarta. According to Parkson Retail Asia CEO Toh Peng Koon, the new store provides exclusive personalised services to give a unique shopping experience. It follows the opening in Medan, North Sumatra, which opened in November last year. It features added facilities including a baby nursery, beauty salon and spa and p…

Sears aims for digital edge

US-based retailer, Sears, has joined a growing list of brands, including tech giant Apple, eyeing the lucrative home automation category with the launch of new store model in the US. The department store is trialling a new store in store model, known as Sears’ Connected Solutions Shops, within three of its flagships in Illinois. The 1700sqft concessions aim to provide customers with an interactive selection of smart, connected home and personal automation devices, with products ranging f…

China leads department store rebound

The global department store market is predicted to grow by 22.2 per cent to $100 billion in the five years to 2019. And according to a study by research house Verdict, 30 per cent of all department store sales will be made in China, owing to rising affluence, increasing urbanisation and expansion opportunities for both domestic and overseas players. “There are extensive growth opportunities in China, however, as overheads such as labor costs rise, we expect less profitable and weaker playe…

New World buys Shanghai department store

Hong Kong’s New World Department Store China is to buy the New World department store in Shanghai from Shanghai Hanxin. New World Department Store China Limited, through its subsidiary Shenyang New World, has agreed to pay 280 million yuan ($45.9 million) to buy the mall in Wujiaochang. The acquisition will further expand the retail network of New World and increase its market share in mainland China. “Following completion of this acquisition, the group will be in a better position to f…

Ayala expands retail business

Filipino property developer Ayala Land is to increase its focus on its retail business. AL’s target is to open as much as 10 supermarkets and department stores over the next five years. “The department stores and supermarkets will definitely be our anchors so they will be in step with our shopping malls expansion program,” said CFO Jaime Ysmael. “They will follow the opening of the malls that takes two years to construct depending the size,” adds Ysmael. Its supermarket busines…

Lane Crawford opens largest flagship

Hong Kong luxury department store Lane Crawford has opened the doors of its largest flagship in Shanghai. Located at Times Square on Huai Hai Zhong Rd, the new store encompasses some 14,000 sqm over four floors, with 500 international brands across women’s fashion, beauty and fine jewellery, menswear and home and lifestyle. The store cost Lane Crawford 400 million yuan ($65.4 million) to build. “Lane Crawford is invested in creating the future of global retail, in the market of the futu…

Galeries Lafayette returns to China

After 15 years, French department store Galeries Lafayette is returning to China, opening in Beijing. Galeries Lafayette’s new Beijing store is located in the Xidan commercial district and has 47,000 sqm of space over six floors. The department store, which offers more than 500 brands, 200 of them new to China, also houses Chinese and French restaurants. Galeries Lafayette opened its first China store in Beijing in 1998, but closed it shortly after due to the poor demand for luxury good…

MCM exits department store business

Mode Creation Munich (MCM) of Sungjoo Group is to close its department stores in South Korea citing poor performances as the reason. MCM has seen negative growth from its domestic department store business since last year, an indication of a softer consumer sentiment, reports Korea IT Times. Contrastingly, its duty-free business has been growing remarkably, boosted by foreign tourists, mainly by Chinese. It says the share of its duty-free business in total sales has exceeded the department…

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