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Massive growth tipped for China retail

Retail research firm Conlumino projects China’s retail sector will surge 90 per cent by 2018.According to the firm, shopper spending will hit £3.513 billion ($5.9 billion) by 2018 as urban middle class booms. The biggest winner will be the fashion sector, it says, as spending on apparel doubles over the next three years. “The growth of the internet and social media have generated global fashion trends and this has made it far easier for international fashion brands to expand,” said global r…

Hong Kong’s IT’s profit falls

Hong Kong-based fashion retailer IT says full-year net profit dropped 27.3 per cent to HK$280 million (US$36.11 million). IT retails upmarket European and Japanese brands and its own brands including 5cm, B+ab and Izzue. The retailer blamed rising rental and labour costs and weaker retail spending at its major markets for the drop. Business in China’s mainland grew 16.3 per cent, however it was offset by a 3.3 per cent decline in Hong Kong, as the number of mainland visitors lowered. “We…

Singaporean fashion shoppers move online

More than two in five Singaporean shoppers have purchased shoes and clothing online in the last three months. And according to a new study by GfK, fashion and shoes are the most frequently purchased items over the Internet, with the average Singaporean shopper spending over $250 and $180 on these two categories respectively. Bags, toys, babycare and sports equipment are also attracting shoppers to spend a significant amount over the Internet. “While online retailers enjoy high sales volume …

Zalora makes virtual fitting possible

Southeast Asian online fashion retailer Zalora plans to make it easier for customers to find their right sizes. Zalora’s websites will feature a ‘virtual fitting room’, a technology created by Swedish company Virtusize, allowing customers to compare specific measurements of an item they are looking to buy with those of a similar item they already own. Displaying and overlaying silhouettes of both items then allows customers to easily compare sizes and choose the one that would fit them the be…

From lion hunters to cool hunters

For more than eight decades, at the corner of 82nd and Lexington on the Upper East Side of New York City stood a local institution by the name of Lascoff Drugs. The founder, J.L. Lascoff, a Russian-Polish immigrant to the US, opened the very first pharmacy in New York State in 1899. J.L’s son Frederick took over in 1936, and (as reported in his New York Times obituary) Fred “sold leeches to battered prizefighters, catnip oil to lion hunters, and various strange potions to people who ha…

India attractive to global fashion brands

India remains attractive to global fashion and lifestyle brands, according to a research by management consulting firm Third Eyesight. While the growth of new international fashion brands entering the Indian market has been slow over the last three years, there are already over 200 international brands present in the market, says the study. Almost 30 per cent of the international brands present in India are American while about a fifth of the brands are Italian. Other key countries from wh…

Flipkart, Myntra to merge

Indian retailers Flipkart and Myntra are reportedly in talks to merge. In a move proposed by common investors Accel Partners and Tiger Global, the two are currently in talks to combine operations. The merger would enable Flipkart to widen its product categories and help it achieve its goal of selling $1 billion gross merchandise value by next year. “It’s still undecided. We are talking, and hoping to address the concerns of everyone. The Premji Invest-led consortium is also in final sta…

Paul Smith to open 25 China stores

English fashion designer Paul Smith plans to open 25 stores in China. The plan is part of a strategy to expand business internationally to offset sluggish business in Europe. “One third of our business is Europe-based. The euro crisis hurt us in wholesale and retail,” said MD John Morley. This year, it says, has been tough as its pre-tax profit dropped from £31.7 million to £23.8 million. “Greece, Spain and Italy have been tough and then, suddenly after the French election, confide…

Indian designer Manish Arora heads online

Exclusively.in, the Indian fashion e-commerce portal, has collaborated with designer Manish Arora. Established as an international destination for Indian-inspired luxury and lifestyle products, Exclusively.in has endeavoured to take world-class products from India to the global marketplace. Exclusively.in has now built a world-class web site for Manish Arora (www.manisharora.com) to retail worldwide, by harnessing its technical know-how and e-commerce infrastructure to Manish Arora’s power…

Retail lease demand holds firm in Asia

Retailer demand for leases in Asia Pacific in the third quarter maintained its strength, fuelled by fast fashion retailers, says CBRE. Japanese and Korean groups in the fast fashion and cosmetics sectors in particular were hungry for cross-border expansion, while department stores also became more active. Likewise, in the luxury sector, big high-end brands continued to add new stores in Beijing and Shanghai but were more focused on core areas in top cities as opposed to expanding elsewhere. …

Aigner eyes China expansion

German fashion company Aigner says it continues to view China as a strong market. Aigner says it will open more points of sale in domestic and international airports in China, a key market for its travel retail business. “Tentatively, especially for the next year, we expect to be growing, especially for our China strategy in terms of domestic travel retail,” said Aigner head of international sales Mark Oliver Schellbach. He said that China is a potential market due to its investments on…

US fashion brand targets Asia online

American fashion brand Halston has launched its first e-commerce store, live in more than 80 countries. The e-commerce site – serving most Asian countries – offers ready-to-wear, dresses, evening gowns and handbags and includes a special feature dedicated to founder Roy Halston Frowick and the heritage of the brand he created. Halston says the site blends a luxury brand experience with “approachable, easy-to-shop functionality”. The launch of the online store is a partnership between Ha…