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Indian retail conglomerate Reliance Industries Limited has signed a franchise agreement with American luxury departmentstore Saks Fifth Avenue to expand its luxury retail portfolio through its subsidiary Reliance Retail, the company said in its third-quarter financial report last week. per cent expansion.
Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the departmentstore chain truly adapt to the needs of the modern-day consumer?
Vincom is easily the largest mall developer and operator in Vietnam, and wants to focus less on new development this year and more on a trifecta of objectives aimed at its existing mall fleet: driving rental growth, upgrading its market positioning, and strengthening the shaky operating metrics of elements of its far-flung portfolio.
Fast-growing Australian online retailer Canningvale plans to relaunch the iconic Singaporean departmentstore Robinsons as an online-only business this month after acquiring the company’s digital assets for an undisclosed sum. Some of the brands have a history with Robinsons, while others are new to the departmentstore. .
Following its launch in Australia in 2016, Danish retail group Bestseller has firmly entrenched its presence in the retailmarket, with the company making strides in its sustainability and circularity initiatives. One example of this is the recent expansion of Vero Moda.
And while Central Group’s publicly listed subsidiary, Central Retail, has denied any involvement in the transaction, multiple reports suggest that another division of the conglomerate is involved in the talks. Central’s superregional malls and departmentstores are ubiquitous in Thailand.
It felt very real when we got our first major international departmentstore when the business was six months old. In the US, we are ranged in Goop and have also just launched into all 15 Credo Beauty stores, which provides our customers additional places to shop and refill their Emma Lewisham products.
This week, Macy’s announced plans to shut down 150 “underproductive” stores, more than one-fifth of its departmentstore assemblage, over the next three years. The closures are a part of the retailer’s plan “to create a more modern Macy’s, Inc. However, the legacy retailer’s reputation has been on shaky ground of late.
As high-end retailers seek to capture and hold onto the 1 per cent shopper’s attention, Saks Fifth Avenue is ramping up its personalised shopping concept, Fifth Avenue Club. What are the factors behind the Fifth Avenue Club’s rapid expansion?
While Shepard was already aware of the needs of trans and non-binary consumers, reviewing the research and seeing the overwhelmingly positive response to the launch of Both& has shown the necessity of having such a brand in the retailmarket. “So So maybe the surprise is that there weren’t more surprises,” Shepard mused.
Google’s smart play will be continued expansion in retail – worldwide including Europe – John Lewis and Kingfisher make up less than one per cent of the European retailmarket. growth in this space will be inevitable,” Chakravarty noted.
They arrived with great fanfare but many international retail brands have found the Australian retailmarket has been a graveyard. The German hypermart chain Kaufland, and potentially the Lidl supermarket chain, were sizing up the Australian market in 2017 but decided not to proceed.
It has seven floors, blends retail, dining and art installations, and sits among tens of thousands of hotel rooms, several museums, high-end apartments and more than 100,000 day workers. A short walk south in Victoria dockside is the K11 Musea, another exponent of New Worlds cultural commerce model, an elegant mashup of retail and art.
The nationalistic trend is also evident in other categories, such as coffee retail, where Luckin has now overtaken Starbucks as market leader in China on the back of a massive storeexpansion program and a price war. Meanwhile, in Hong Kong, New World Development’s K11 Art Mall in Tsim Sha Tsui is undergoing an expansion.
Here, we speak with CEO Graham Dean about the challenges of scaling a business at the right pace, the importance of a consistent growth strategy and how global departmentstores can compete with specialty retailers. Inside Retail : Harris Scarfe is marking 175 years of trading this year. GD: Many times.
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