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The prime shopping hubs of Causeway Bay and Tsim Sha Tsui, among the most expensive in Hong Kong in terms of rental costs, remain attractive for retailers amid overall sluggishness in the sector. Retail rents in Causeway Bay fell 8 per cent in the rental…
The official Coach Tmall flagship shop has been abandoned. Luxury bag brand Coach Inc says it will replace its shop on Alibaba Group Holding’s business-to-consumer sales site by selling directly through its own website and on its WeChat account, the…
Unconventional British fashion brand Ted Baker has opened its first store in Vietnam. Ted Baker Vietnam joins other luxury brands at the revamped Saigon Center in Ho Chi Minh City, with its re-opening celebrated at an event featuring Vietnamese entertainers.…
Michael Kors Asia sales are showing healthy growth – at the same time as same-store figures are falling heavily in its US home market. Michael Kors has kicked off its new financial year with a weak set of numbers this week. Total revenue was virtually flat,…
While the latest Kate Spade figures are respectable, there is a clear slowdown in the pace of growth compared to last quarter. This is most noticeable in the direct-to-consumer segment, where comparable revenue rose by a fairly meagre 4 per cent, compared to…
Thai importer and distributor of 14 fashion brands Pacifica Group plans to expand its free-standing shops from 80 to 140 over three years. Costing about Bt400 million (US$11.3 million), the store expansion will be 60 to 70 per cent mass-market fashion brands,…
Coach Asia has reported a strong rise in Mainland China sales in the last quarter – which was eroded by a decline in Hong Kong and Macau. The rebounding US fashion retailer says international sales rose 5 per cent in the three months to March 27 to US$448…
Coach Inc says its net sales totalled US$1.27 billion for the second fiscal quarter – up 4 per cent year on year, and up 7 per cent on a constant currency basis. China was a primary driver of the increase in the three months to December 26, with sales up in…
Apple’s stores typically spotlight the company’s devices, with the most expensive audio accessories topping out in the hundreds of dollars. The Phantom is the first high-end non-Apple gadget that Ms. Ahrendts, the former chief executive of the fashion house…
In the heart of Guangzhou’s Yuexiu district, the shopping centre La Perle is a symbol of luxury living in the southern mainland city. The high-end shopping mall, which opened in January 2004, has long been the first stop for many international brands seeking…
Even as slumping sales force luxury brands renegotiate retail rent prices and close stores in Hong Kong, a new report finds that it’s still the second-priciest place in the world to open up shop. According to Cushman & Wakefield’s newly published “Main…
“Landlords have to face the reality, no matter how reluctant they are,” Lawrence Wong, a director at property agent Sheraton Valuers Ltd., said in a telephone interview Saturday. “It’s still better than leaving their property empty.” Russell Street has lost…
Lagardère Travel Retail has opened the first high-end luxury concession in Kunming’s Changshui International Airport in South-Western China, which the retailer says is the result of a ‘close and successful partnership’ with Yunnan Airport Group and Asiaray…
The closure of the watch brand TAG Heuer’s outlet in Causeway Bay in August this year is a sign of luxury brands’ withdrawal from Hong Kong and the end of the city’s status as a center for Asian luxury goods. Following TAG Heuer’s exit, luxury fashion brand…
As China devalues yuan and the U.S. is on track to raise rates, Hong Kong, whose currency is pegged to the dollar, is in trouble. Forecasting “black sky”, UBS now sees the Hang Seng Index to end the year at 19,775, another 5.5% downside from its current…
Leather goods maker Coach Inc. is shutting one of its three flagship locations in Hong Kong, the latest retailer to be hit by the drop in the number of mainland Chinese visitors to the city amid a slowing economy and weaker yuan. The store towers above…
