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Sweden's H&M posts rise in Q2 profit, reiterates expansion plan
FINANCIAL, RETAIL, SAME STORE SALES
06.20.12
Swedish fast fashion retailer Hennes & Mauritz AB, or H&M, reported a 20% rise in quarterly profits following "very strong sales" of its Spring collection. The firm posted a second quarter profit of SEK 5.22bn or SEK 3.15 per share versus SEK 4.26bn or SEK 2.57 per share last year. Sales including VAT grew to SEK 36.95bn from SEK 32.4bn in the prior-year quarter. Sales excluding VAT was up 15% year-over-year to SEK 31.66bn.
H&M's group sales, including VAT, grew 12% in local currencies in the second quarter. Sales in comparable units increased 2%.
Karl-Johan Persson, CEO, commented, "The year started well and the positive trend continued in the second quarter. In the second quarter we saw strong sales and profitability development, with a profit increase of 23%. The spring collections have been well received by our customers as shown by our increased market share in a fashion retail market that continues to be challenging..."
Moving ahead, the company plans to open around 275 new stores net during the full-year. H&M continues to open new stores in all current markets and it will add five new markets during the year: Bulgaria, Mexico, Latvia, Malaysia and Thailand. In addition, online sales will be launched in the autumn in the US, the world's largest online market.
Further, H&M intends to open stores in several new markets in 2013.
For Press Release Click Here |
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Savile Row tailors say new The Kooples store will change tone
of area
RETAIL
04.16.12
Tailors on London's formal and heritage-focused Savile Row are upset over news that French fashion brand The Kooples plans to open a store at 5 Savile Row, reported Drapers.
Tailors believe the fashion chain will lower the tone of the area. Mark Henderson, Chairman of the Savile Row Bespoke Association, told the paper: "A fashion store is not particularly welcome as it does not fit in to what Savile Row, including its heritage and history, is about."
Vice Chairman of Anderson & Sheppard tailors, Anda Rowland, added: "We just feel it is a great shame to see Regent Street wrapping into Savile Row. It has been the home of tailors for hundreds of years and we won't be able to get that character back when the chain stores move in."
Savile Row tailors have previously opposed a planned Abercrombie & Fitch kidswear store on Savile Row.
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J.Crew to enter Asia through Lane Crawford partnership
RETAIL
06.11.12
J.Crew, the American retailer and Lane Crawford, an Asia designer specialty store, have announced a strategic partnership, providing customers in Asia with special access to the J.Crew women's and men's collections through Lane Crawford's retail and online stores.
Beginning in October 2012, a curated selection of the J.Crew Autumn/Winter 2012 women's ready-to-wear and shoes, men's apparel and accessory collections will be available at select Lane Crawford stores, allowing customers throughout Hong Kong and China to shop J.Crew in a retail environment outside North America for the first time. This project is the first-ever collaboration for J.Crew with Lane Crawford. The partnership will debut at the Lane Crawford ifc mall in Hong Kong and the Seasons Place store in Beijing, as well as on lanecrawford.com, providing a new and exclusive positioning for both brands across Greater China.
Millard Drexler, J.Crew's Chairman and CEO said, "We always want to work with the 'best of the best,' and Lane Crawford was at the top of our fantasy list. When it comes to editing and presenting collections with a creative and elevated point of view, no one does it better. We are beyond excited to partner with Lane Crawford to help introduce J.Crew to Asia."
Andrew Keith, Lane Crawford's president adds, "We are thrilled to be collaborating with J.Crew on this first-ever, unique multi-channel project. J.Crew is renowned in the US for bringing together an exceptional level of quality and distinctive styling, paired together with Lane Crawford's exclusive edit, we are very excited to offer this unique experience to the Hong Kong and China markets."
Further, H&M intends to open stores in several new markets in 2013.
For Press Release Click Here |
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Zadig & Voltaire opens Madison Avenue store
RETAIL
05.28.12
French fashion brand Zadig & Voltaire has opened a 1,300 sqft. flagship at 992 Madison Avenue, reported Women's Wear Daily.
Founder Thierry Giller has already said the space is "too small. The line is big. I need more space. I'm looking already for another shop on Madison Avenue." He expects the store to do between $5m and $10m in the first year.
"The way I see it, those [Upper East Side] customers need to have this kind of product," Giller said. "Today on Madison Avenue, we're doing chic sportswear. I'm trying to build a story about a more casual way to dress every day for the Madison Avenue customer."
Giller also plans to open stores in Los Angeles, Miami, Boston, Aspen and Chicago.The company operates 200 stores worldwide, with the majority in Europe. |
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Spain's Mango sees 11% increase in FY revenues
FINANCIAL, RETAIL
04.12.12
Spanish fashion chain Mango posted an 11% increase in sales in 2011, reported Drapers.
Turnover rose to 1.4bn euros as the company continued to focus on the Russian and Chinese markets. Mango said it plans to open a further 80 retail outlets in China and another 30 in Russia because of the "huge growth potential" that exists in both countries.
According to the retailer, 82% of its turnover for its 2011 financial year came from foreign markets. The remainder came from the Spanish domestic market. Mango's online sales during the full year period rose to a total of 36.2m euros, a 72% increase year-on-year. Customers in Europe, the US, Canada, Japan, South Korea, Turkey, China, Russia, Hong Kong, Macao, India, the Philippines and Malaysia can now purchase Mango products online.
For 2012, Mango plans to continue expanding online and wants to double turnover through its own website and by selling through partner websites.
Mango is entering the markets of Myanmar and Pakistan this year.
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Club Monaco unveils renovated store at Hong Kong's IFC Mall
RETAIL
06.01.12
Just weeks after the reopening of its shop on Queen's Road Central in Hong Kong, US casual clothing brand Club Monaco has raised the curtain on its newly renovated branch at the IFC Mall, reported The South China Morning Post. The 2,000 sqft. store sports the brand's trademark mix of vintage furniture and antique artwork. |
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Battle for online market share heats up in China
E-COMMERCE, RETAIL
06.19.12
Chinese e-commerce websites are waging a battle of their own for consumers' eyeballs as they fight a price war.
Almost all of the top 10 e-commerce players are offering large discounts and rebates to users, part of their effort to attract customers and gain an upper hand in the market, reported China Daily.
On Monday, Beijing Jingdong Century Trading Co, which runs 360buy.com, on Monday offered discounts worth 1bn yuan ($157.3m) for purchases in June.
At the same time, Tmall.com, the largest business-to-consumer website in China, gave users "red-pocket money" worth 40m yuan to encourage purchases from June 15 to 18.
"The price war is very likely to be a practice for e-commerce companies for a long time to come as online shoppers like low prices," said a company official of Suning, who preferred not to be named.
Price wars have become the norm for e-commerce players, but the tactic has added to their financial burdens, and most of them remain in the red.
For China Daily Article Click Here
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H&M F/W 12 Preview
RETAIL
06.05.12
Contemporary minimalism, daring silhouettes and an updated grunge aesthetic are all major influences on the H&M F/W 12 collection.
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The Printed Sheer Shirt
RETAIL COMP
02.29.12
Offered in a variety of designs in lightweight fabrics, the Printed Sheer Shirt is the fresh alternative to the basic button-up. Pastel florals, abstract animal prints, and painterly designs are popular for this everyday top. Cropped and cuffed sleeves give this silhouette a vintage vibe while contrasting collars and hems create an edgier, modern look.
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The Midi Tank Dress
RETAIL COMP
06.13.12
The Midi Tank Dress is the perfect update to ubiquitous maxi styles. With a simple scoop neckline and hem that hits at the mid-shin, the midi makes for a simple silhouette that's both easy to wear and fresh. Stripes and racerbacks touch on activewear influences, while solid hues make for great basics.
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Festival SHORT
RETAIL ANALYSIS, DENIM DETAILS
May 2012
Festive dye treatments enhance summer's ubiquitous denim short shorts.
Denim short shorts return to retail floors for Summer / Sherbet oranges and watermelon pinks are key / Dip dye techniques offer a key move-on for the classic short silhouette / Tropical and candy colorways / Intricate tie-dye effects / Essential festival item as seen at Coachella
Markets: Juniors
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Summer Whites
RETAIL ANALYSIS, APPAREL
May 2012
A cooling capsule of white-on-white was a welcome palette cleanser.
Fresh bleached and optic whites / Textured fabrics are key – eyelet, linen, crinkled gauze and silk / Heavy cotton lace and crochet / Airy summer items – peasant tops, shift and sack dresses, full skirts, drawstring pants and shorts / Novelty details like lacing or lace insets made the difference
Markets: Plus / Women / Contemporary / Juniors
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Chiara Ferragni of The Blonde Salad
DIGITAL MUSES 2012
06.08.12
Blog: www.theblondesalad.com
Twitter/Instagram: @Chiaraferragni
Pinterest: pinterest.com/chiaraferragni/
Launched: 2009
Age: 25
Hometown: Cremona, Italy
Style: Flirtatious Italian femininity with a penchant for bright color and luxury accessories
Key Items: Oversized sunglasses, skinny pants, femme frocks, statement coats, colorful statement jewelry, printed jackets, designer handbags
Favorite Brands: Chloe, DL1961, Proenza Schouler, Miu Miu, Lanvin, Isabel Marant, vintage, Chanel, Celine, Marc Jacobs, Carven
Notable For: Collaborated with Italian brand Yamamay on a lingerie line, created a capsule collection for Mango with other key bloggers and designs a shoe line under her name. International press including New York Magazine, Vogue, Glamour and many more.
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Amy Song of Song of Style
Blog: songofstyle.blogspot.com
Twitter: @aimeesong
Instagram/Pinterest: @songofstyle
Launched: 2008
Age: 24
Hometown: Los Angeles by way of San Francisco
Style: West coast bohemian with a love for preppy basics and designer denim
Key Items: Aviator sunglasses, cutoff shorts, stiletto sandals, lightweight jackets, undone button-ups, sneakers, skinny jeans, stacked gold jewelry
Favorite Brands: J Brand, Levi's, H&M, Diesel, Chanel, Sass & Bide, Zara, Bar III, Botkier, Gorjana
Notable For: Former interior designer turned blogger who now works as a stylist for Macy's contemporary private label Bar III. Extensive press in Harper's Bazaar, Teen Vogue, Refinery 29, Glamour and New York Mag.
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