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Italian fashion brand Prada Japan has opened a store in Narita International Airport’s Terminal, Tokyo. Covering about 200 sqm, the outlet offers women’s and men’s leather goods and accessories. Its facade on three sides is clad in black Marquinia marble,…
Prada will shut its boutique at the Peninsula hotel shopping centre on December 31 in the latest sign that the retail slump is hurting high-end brands. The Italian luxury fashion label made its debut in the city with its 3,091 sq ft outlet at the landmark…
Prada expects that its sales in Asia will account for half of its total sales within one year, while sales in China will be 3 times of current sales in the next 2-3 years. Deputy Chairman Carlo Mazzi said, “Currently 40 percent of our business comes from…
Parisian fashion house BA&SH has partnered with Hong Kong retail and brand management company ImagineX Group to strengthen its presence in Asia. BA&SH has hopes of accelerating its expansion in Hong Kong, Macau, Singapore, Taiwan and China. The label opened…
Pre-owned luxury items are becoming more popular, according to the 2016 Asia Luxury Index, compiled by Singapore-based online luxury retailer Reebonz. Drawing on industry reports and its sales data, the index reveals 30 per cent sales growth in the pre-owned…
Indonesians have become Asia’s foremost online buyers of luxury goods, according to the latest Asia Luxury Index. Amid difficult economic conditions, online sales of luxury goods in Indonesia have grown by 84 per cent, according to the index, which draws…
The Italian-headquartered, Hong Kong-listed luxury brand says its Asia Pacific sales slumped 18 per cent on a constant currency basis in the first half of this year. “The negative economic backdrop continued to impact performance in both Hong Kong and Macau,…
Italian fashion brand Prada is suffering from shrinking demand in its largest market of China, with a 20%-plus drop in first-half sales dragging down overall profit to the same degree. The Hong Kong-listed, Milano-based company announced late Friday that net…
Fashion brand Prada Hong Kong will renovate and expand its store on Canton Rd. Covering more than 1300 sqm over two storeys, the store has a secondary internal access from Harbour City. Its facade pays homage to Franco-Venezuelan kinetic artist Carlos…
Some brands are even advertising via Snapchat. In a fast-paced and technologically-savvy city-state such as Singapore, brick and mortar shops of retailers, however traditional, may not be adequate anymore. According to a report by Cushman and Wakefield,…
Italian online fashion retailer Yoox Net-A-Porter (YNAP) aims to double sales and boost profits by 2020 as it expands in new markets, including Asia, but says it is still committed to Britain despite the vote to leave the European Union. The group says it is…
Italian fashion house Giorgio Armani Asia is the latest luxury retailer to cite greater China as the cause of a downturn in sales. Burberry and Hugo Boss have also been hit by China’s economic slowdown, leading to Hugo Boss cutting its prices in Asia. Armani…
It’s already happened to middle-of-the-road stores across high streets and main streets. Now the world’s biggest luxury stores are starting to shutter outlets. The culprit is the Chinese consumer, who is starting to rein in spending at home and abroad. The…
Hong Kong has been blamed for a further decline in Burberry profit and a consequential cutback of staff and products. The British luxury goods brand has reported an 8 per cent fall in adjusted pre-tax profit to £421 million in the year to March 31 on flat…
Despite suggestions to the contrary, luxury retail spending is still rising in the UAE, albeit at a slower pace. Dubai, in particular, is leading the way. In a survey carried out before the World Retail Congress last month, Dubai Chamber said the retail…
China and the Chinese played a primary role in the growth of the luxury sector in the past decade. But what was once a boon for luxury goods brands is now turning around. Chinese consumers account for the largest portion (31 percent) of global luxury…
