Authors Posts by William W. Wallace

William W. Wallace

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Connecting people to projects and resources that matter to their success is what I am currently focusing on in order to consider myself and my company successful. Going out on my own and pursuing my dream to own and operate my own blog has been a really rewarding journey so far and I am grateful to everyone who has helped.

china-retail-expansion
German fashion house Hugo Boss will expand its presence in China retail, key shareholder Gaetano Marzotto said in an interview in newspaper Welt am Sonntag.

Despite slowing growth in the world’s second-largest economy, Marzotto told the paper that he saw the potential for higher sales in China.

“Up until now China accounts for less than 10 percent of group sales, this could be ramped up,” Marzotto said in an advance extract of an interview to be published on Sunday.

His family clan holds a 7.95 percent stake in Hugo Boss, making it the company’s biggest shareholder.

The Chinese are the world’s biggest buyers of luxury goods and have been increasingly shopping abroad as big shifts in exchange rates make luxury items much cheaper for them in Europe than at home.

Hugo Boss’s currency adjusted sales in the country increased 1 percent in the six months through June versus a decline of 2 percent in the prior year period.

Finance chief Mark Langer said earlier this month he did not expect an improvement soon in China, which contributes about 8 percent of group sales.

Hugo Boss recently took over 21 stores in China, previously operated by a partner, to strengthen its brand in the market.

The group has been spending heavily on expanding its own store network, where sales are more profitable than through other retailers’ shops. (Reporting by Kirsti Knolle, editing by David Evans)

 

 

Reuters

In Retail Asia – Inside Retail Asia – Retail News Asia

China-luxury-sales
The rout in European luxury-goods makers is sparing nobody — regardless of how much they sell in China.

Burberry Group Plc and Hugo Boss AG plunged more than 7 percent in two days after China devalued its currency, even though the companies have some of the smallest sales exposure to the yuan among luxury makers, according to Credit Suisse Group AG. That’s because when taking into account purchases by Chinese travellers abroad, most of the companies are just as reliant on the nation, Sanford C. Bernstein says.

“It’s at these times that you understand the extent to which the market of luxury goods is exposed to China and how much it depends on the decisions of the Chinese government,” said Mario Ortelli, an analyst at Bernstein in London.

Looking at individual companies’ sales in the mainland isn’t a reliable gauge to determine which shares are the most at risk. Chinese consumers now do more than half of their spending abroad, according to Bank of America Corp.

Burberry gets 11 percent of its revenue in yuan, compared with 7 percent for Hugo Boss, according to estimates by Credit Suisse. Swatch Group AG, which has lost 8.8 percent in two days, has the biggest exposure, with 23 percent.

 

Business of Fashion

In Retail Asia – Retail News in Asia

Financial innovation is bubbling up around the globe, but China is where digital banking, investing, and lending have gone mainstream.

You forgot your wallet, and it’s four flights up to your apartment in Shanghai’s French Concession. No worries. You’ve got your smartphone. Open Tencent Holdings’ WeChat, the Chinese Twitter on steroids, and tap China’s versions of PayPal, E*Trade, Uber, Amazon, and TripAdvisor rolled into a single app, Bloomberg Markets magazine reports in its October issue. Order and pay for your taxi and then book a restaurant where you’ll split the bill electronically with a friend. With a few minutes to spare, transfer money into the mutual fund run by e-commerce giant Alibaba Group Holding. See a poster for a hot new movie? Snap a photo of it and let search engine Baidu find a theater and buy you tickets for later that evening.

Financial innovation is bubbling up around the globe, but China is where digital banking, investing, and lending have gone mainstream. Technology companies armed with financial apps are challenging banks and other intermediaries for a market with 1.3 billion people and $7.8 trillion of deposits. Tencent’s WeChat (called Weixin in Chinese), Alibaba’s Alipay arm, and Baidu are leading the way with digital wallets that let consumers manage their money via their phones.
The Business Fashion

As Chinese visits to Cambodia continue to grow duty-free retailers DFS Group and CDF are looking to cash in.

CDF Mall, the world’s largest duty-free mall funded by Chinese investment, opened a 4,500 square meter store in Siem Reap, Cambodia. Opening in time for the Chinese New Year, CDF Mall is home to a number of lesser-known clothing, leather goods, watch, and cosmetics brands, according to Want China Times. China is now second only to Vietnam in terms of the number of tourists it sends to Cambodia annually, and the number of Chinese visitors is expected to double by 2020. Siem Reap, in northern Cambodia, is a popular city for Chinese tourists on their way to Angkor Wat, the home of more than 100 ancient temples. Like CDF, DFS Group has its sights set on Siem Reap. DFS, of which LVMH is a majority owner, plans to open an 8,000 square-meter duty-free shopping mall in the city by 2018, which will be capable of housing 700 luxury brands.
Source: red-luxury.com

In Retail Asia – Duty Free Retail in Asia

retail-news-asia

Wet markets and traditional grocery stores are losing their share to these modern retail outlets

 

  • Vietnamese shoppers prefer convenience, wet markets under threat: Nielsen
  • Vietnamese retailers fail to savvy growing trend of online shopping on phone
  • Online shopping gathers momentum in Vietnam
  • Japan’s Aeon invests in Vietnamese retailers: report
  • Now or never for Vietnamese retailers to join joint-ventures

Business | Thanh Nien Daily

In Retail Asia – Vietnam Retail News

china-retail-update
Years of surging economic growth in China that spurred sales of Louis Vuitton handbags and BMW 5-Series cars have given way to the deepest slowdown since 1990.

The devaluation of the currency in the short term reduces the value of their sales in the country, and makes Chinese producers more competitive. While in the longer term it will help revive growth in China, for now it signals just how concerned the authorities are about the slowdown, and that there may be further pain ahead for companies operating there.

“China is clearly becoming a growing risk that materializes day after day,” said Anne d’Anselme, a money manager at Cogefi Gestion, which oversees 600 million euros ($662 million) in Paris.

LVMH sank 4.4 percent to 166.65 euros in Paris, while BMW lost 4.2 percent to 89.46 euros. Kone, the Finnish elevator maker, dropped 4.6 percent to 37.63 euros.
The Business of Fashion

In Retail Asia – The Business of Retail in Asia

asia-retail-news

Work closely with the Managing Director to help build up new businesses; Over 10 years of management experience in commercial fitting out, preferably in…

ISG ASIA (HONG KONG) LIMITED
Location : HK

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online-retail-india
Walmart expects its e-commerce segment to grow substantially in India with 90 per cent of its business to be ‘digitally-influenced’ with the advent of better online connectivity technologies such as 4G.

The company, which had recently launched two mobile solutions, ‘Best Price’ Mobile App and ‘Dial-a-Deal’ IVR system for members of its wholesale stores in India, says offering such omni-channel shopping experience is poised to be a major growth driver for Walmart in India.

“If we look at digitally influenced business, nearly 90 per cent of our business would be digitally influenced, primarily because those who are coming to our store are also checking price on web through their cell phone,” President & CEO told PTI.
Companies

Indian Retail News – In Retail Asia

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German fashion house Hugo Boss will expand its presence in China retail, key shareholder Gaetano Marzotto said in an interview in newspaper Welt am Sonntag. Despite slowing growth...
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