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A year after the French luxury departmentstore originally announced it would be launching its first US location, Printemps is officially opening a brick-and-mortar store in the heart of New York Citys financial district on March 21. Departmentstores havent had the best reputation the last few years.
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.
Central’s acquisition move is not unusual,” Selvane Mohandas du Ménil, International Association of DepartmentStores managing director, told Inside Retail. Central Group made the headlines again in 2022 after snapping up Selfridges Group, making it the largest luxury departmentstore operator in Europe.
First quarter results for calendar year 2022 are in for the three biggest Korean departmentstoreretailers, and the numbers are encouraging. Shinsegae, Lotte, and Hyundai account for the top nine departmentstores in the country (coming in at number 10 is Galleria’s high-end flagship in Seoul). trillion KRW ($2.1
While American malls are experiencing increased foot traffic, there are a few things retailers need to be aware of before they rush back in with a new in-mall location. For example, one key difference between “malls today compared to yesteryear is that the anchor stores are different,” Saunders pointed out. “In That is less so today.
The US luxury retailmarket was worth US$134.6 billion last year, retail analyst and GlobalData managing director Neil Saunders told Inside Retail. Instead, the company strives to provide unique perks to the 1 per cent of shoppers who visit its stores.
Watch this (air) space. So, what does this mean for the physical store? We believe physical retail remains as relevant as ever, but with a savvy digital customer watching your every move, it wont be enough to have great products and great prices. This could mean the end of the work-from-home generation. So, our take?
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.
Unsatisfied with the natural products on the market, which she felt were either ineffective or unappealing to use, Lewisham made the decision to launch an evidence-based, B Corp-certified natural skincare brand. IR : How does Emma Lewisham fill a white space in the beauty market?
Retail activity has been a defining facet of cities since antiquity. Retailspaces have evolved over time. Urbanisation, mass production and the rise of conspicuous consumption led to the high street and CBD dominating the retail landscape across the Western world from the late 19th century until the mid-20th century.
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.
But equally, it comes down to retailers wanting to do the right thing, and it comes back to people, profit, planet. We’re achieving in the profit space, retailers know how to make money, but the people and planet piece is where the biggest opportunities lie. There are definitely some retailers that have led the charge.
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.
“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.
This is where experiential retail methods come in. Think of retailtainment as a unique space where both existing and prospective customers can familiarise themselves with the particular brand or business without the pressure of committing or immediately digging out their wallets to pay for a product or service. STORY at Macy’s.
Mall operators in parts of Asia increasingly like to see themselves as purveyors of culture, which fits well with the narrative of integrating retail with complimentary uses of space. 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.
Beggar thy neighbor: competition for tourists It hasn’t gone unnoticed by governments across Asia that the post-Covid 19 economic growth and the growth of retail, hospitality and other businesses has largely been driven by the revival of international tourism. Departmentstore renovations are a particularly important ongoing trend.
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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