[ 2008-09-28 ]
This month Chinese Sports Products Standardization Technology Association has set up its branch in Anta Company for quality inspection of Chinese sportswear apparels.
Industry insiders believe that, this unit will play an important role in improving the quality of sports wear. As a result of which, the upgraded Chinese products will get noticed in international markets.
To begin with, standards for widely availiable and mass produced sports clothes will be set and later on standards for professional sports attire.
More than 30 Chinese sports wear manufacturers have joined in this endeavour which includes the likes of Anta Company, Sept Wolves and Peak Group.
Besides, Anta will take the lead in setting up the standards in collaboration with the association.
2008-09-28
INVISTA to build a Textile Research Center in Shanghai
[ 2008-09-27 ]
INVISTA announced building a new research facility in Mainland China to further strengthen its ability to anticipate and address market demand for innovations in fiber and fabric applications.
The INVISTA China Textile Research Center, to be built in Qingpu District of Shanghai, will be a state of art commercial textile research center in Mainland China. It is expected to commence operations in May 2009 and is designed to serve customers in Mainland China and the rest of the Asian region.
The facility will be INVISTA's third textile research center in the world, with the other two in the U.S. and Taiwan.
The establishment of the INVISTA China Textile Research Center demonstrates our commitment to the China and Asia markets, said Dr. Eric Chang, Asia technology director of INVISTA Apparel."
Through developing the latest technologies in fiber and fabric applications, INVISTA's new research center is expected to not only help accelerate the advancement of the textile industry but also seek to align with the Chinese Government's goals to nurture high-value and innovative technologies and industries.
Focusing on application and commercialization of new fiber and fabric, the center is expected to offer comprehensive and innovative solutions to customers for every major aspect of the production process, ranging from yarn processing, knitting, dyeing to finishing.
The proximity of the center to customers?? operations is anticipated to boost their confidence in the development and application of new fabrics. Customers should also benefit by enjoying cost savings in research and development.
With a planned floor area of over 3,000 square meters, the facility will be operated by INVISTA Fiber (Shanghai) Company Limited on the same site as the company's spandex plant in the Qingpu District.
INVISTA is the world's largest producer of nylon and spandex. Its innovations in the nylon, spandex, polyester and specialty materials industries play an integral part in items that touch people's lives every day.
INVISTA announced building a new research facility in Mainland China to further strengthen its ability to anticipate and address market demand for innovations in fiber and fabric applications.
The INVISTA China Textile Research Center, to be built in Qingpu District of Shanghai, will be a state of art commercial textile research center in Mainland China. It is expected to commence operations in May 2009 and is designed to serve customers in Mainland China and the rest of the Asian region.
The facility will be INVISTA's third textile research center in the world, with the other two in the U.S. and Taiwan.
The establishment of the INVISTA China Textile Research Center demonstrates our commitment to the China and Asia markets, said Dr. Eric Chang, Asia technology director of INVISTA Apparel."
Through developing the latest technologies in fiber and fabric applications, INVISTA's new research center is expected to not only help accelerate the advancement of the textile industry but also seek to align with the Chinese Government's goals to nurture high-value and innovative technologies and industries.
Focusing on application and commercialization of new fiber and fabric, the center is expected to offer comprehensive and innovative solutions to customers for every major aspect of the production process, ranging from yarn processing, knitting, dyeing to finishing.
The proximity of the center to customers?? operations is anticipated to boost their confidence in the development and application of new fabrics. Customers should also benefit by enjoying cost savings in research and development.
With a planned floor area of over 3,000 square meters, the facility will be operated by INVISTA Fiber (Shanghai) Company Limited on the same site as the company's spandex plant in the Qingpu District.
INVISTA is the world's largest producer of nylon and spandex. Its innovations in the nylon, spandex, polyester and specialty materials industries play an integral part in items that touch people's lives every day.
Kate Moss top shop coming to Beijing
[ 2008-09-28 ]
We almost choked on our gongbao jiding when we heard this one, but believe it or not, you'll soon be able to buy clothing from Top Shop in Beijing. And not just any old rags either. We're happy to announce that the Kate Moss for Top Shop collection will soon be sold in the Beijing branch of Lane Crawford. Kate Moss' collections have been doing frightfully well back in Blighty, and will probably sell out in seconds here also. Sharpen those elbows, girls, it'll probably get nasty. For details of how to get to Lane Crawford, see the listing in our online directories.
Other excitement, for fans of posh clothing ... French brand Mushi is having a 50-80% off sale. They're trying to clear out the older stock in order to create some space for the new autumn/winter collection. We can't wait! For details of how to get to the Beijing branch of Mushi, see the listing in our online directories.
Yueshow (the poor man's Yashow) is soon to snog the wrecking ball. Rumour has it that it's going to make way for a Dazhong electronics store. Either way, it'll be chai'd fairly soon. The good news here is that the stall holders are desperately trying to flog whatever stock they've got before time is called, and now is your chance to get the bargain of the century. We've heard rumours of less-than-genuine Crocs being sold for RMB 5 per pair, which some might argue still represents something of a rip off, but there we are. Buy now, or forever hold your peace.
Speaking of Dazhong, another major electrical and white goods retailer Suning opened up a new super store out on West third ring road in August. The huge store will offer discount prices on brand name electrical goods. More details here.
Finally, we've just received news that Plastered T-shirts has been nominated for a couple of the British Business Award in China. They've made it to the final five in both the Entrepreneur of the Year and Young Icebreaker categories.
We almost choked on our gongbao jiding when we heard this one, but believe it or not, you'll soon be able to buy clothing from Top Shop in Beijing. And not just any old rags either. We're happy to announce that the Kate Moss for Top Shop collection will soon be sold in the Beijing branch of Lane Crawford. Kate Moss' collections have been doing frightfully well back in Blighty, and will probably sell out in seconds here also. Sharpen those elbows, girls, it'll probably get nasty. For details of how to get to Lane Crawford, see the listing in our online directories.
Other excitement, for fans of posh clothing ... French brand Mushi is having a 50-80% off sale. They're trying to clear out the older stock in order to create some space for the new autumn/winter collection. We can't wait! For details of how to get to the Beijing branch of Mushi, see the listing in our online directories.
Yueshow (the poor man's Yashow) is soon to snog the wrecking ball. Rumour has it that it's going to make way for a Dazhong electronics store. Either way, it'll be chai'd fairly soon. The good news here is that the stall holders are desperately trying to flog whatever stock they've got before time is called, and now is your chance to get the bargain of the century. We've heard rumours of less-than-genuine Crocs being sold for RMB 5 per pair, which some might argue still represents something of a rip off, but there we are. Buy now, or forever hold your peace.
Speaking of Dazhong, another major electrical and white goods retailer Suning opened up a new super store out on West third ring road in August. The huge store will offer discount prices on brand name electrical goods. More details here.
Finally, we've just received news that Plastered T-shirts has been nominated for a couple of the British Business Award in China. They've made it to the final five in both the Entrepreneur of the Year and Young Icebreaker categories.
Celine Nanjing Shop Opened
[ 2008-09-27 ]
The French luxury brand Celine opened its No.11 specialty shop in Nanjing,China on Sept19, 2008. It has successfully set up 10 specialty shops in Shanghai, Beijing, Guangzhou,Shenzhen,Hangzhou,Qingdao,Chengdu and other big cities in China before.
Celine Nanjing Shop locates the ground floor of Dongfang Commercial City.It covers 163 SQM.It is decorated splendently.
Celine Nanjing Shop will sell updated "Watch Me" vanity series and "Tourbillon" vanity series at the same time of Paris.And the 2008Fall/Winter fashion and accessories collections will be showcased in Celine Nanjing Shop at the earliest time.
The French luxury brand Celine opened its No.11 specialty shop in Nanjing,China on Sept19, 2008. It has successfully set up 10 specialty shops in Shanghai, Beijing, Guangzhou,Shenzhen,Hangzhou,Qingdao,Chengdu and other big cities in China before.
Celine Nanjing Shop locates the ground floor of Dongfang Commercial City.It covers 163 SQM.It is decorated splendently.
Celine Nanjing Shop will sell updated "Watch Me" vanity series and "Tourbillon" vanity series at the same time of Paris.And the 2008Fall/Winter fashion and accessories collections will be showcased in Celine Nanjing Shop at the earliest time.
ITAT Opens First Sunshine Store In Jiaxing
[ 2008-09-24 ]
Having reached its goal of opening in 317 cities around China, ITAT Group, one of the largest multi-brand apparel retailers in China, has opened its first Sunshine Store in Jiaxing, Zhejiang.
Sunshine Store is an apparel retail store brand of ITAT together with its Store Prestige Super Club, Membership Stores, Fashion ITAT, and ITAT Sports World. Focusing on creating boutique stores in top business areas of Chinese cities, the Sunshine Store aims to develop and retail well-known international brands while offering the group's own brand products.
Lai Meijin, executive director of ITAT Group, said that the group is also planning to open other boutique stores, including classical stores, gentlemen's outfitters, leisure stores, leather stores, convenience stores, and childrens stores, all of which are apparel or department stores. Unlike ITAT's original model, the design of these boutique stores will be more delicate, the products sold will be more various, and the target customers will be more specific.
At present, ITAT Group has been implementing market investigations and site selections for its boutique stores in first-tier Chinese cities, including Harbin, Shenyang, Dalian, Beijing, Qingdao, Chengdu, Chongqing, Shenzhen, and Guangzhou.
Having reached its goal of opening in 317 cities around China, ITAT Group, one of the largest multi-brand apparel retailers in China, has opened its first Sunshine Store in Jiaxing, Zhejiang.
Sunshine Store is an apparel retail store brand of ITAT together with its Store Prestige Super Club, Membership Stores, Fashion ITAT, and ITAT Sports World. Focusing on creating boutique stores in top business areas of Chinese cities, the Sunshine Store aims to develop and retail well-known international brands while offering the group's own brand products.
Lai Meijin, executive director of ITAT Group, said that the group is also planning to open other boutique stores, including classical stores, gentlemen's outfitters, leisure stores, leather stores, convenience stores, and childrens stores, all of which are apparel or department stores. Unlike ITAT's original model, the design of these boutique stores will be more delicate, the products sold will be more various, and the target customers will be more specific.
At present, ITAT Group has been implementing market investigations and site selections for its boutique stores in first-tier Chinese cities, including Harbin, Shenyang, Dalian, Beijing, Qingdao, Chengdu, Chongqing, Shenzhen, and Guangzhou.
2008-09-21
Marks & Spencer will make its Shanghai debut
[ 2008-09-19 ]
Marks & Spencer, one of British retail giants, will make its debut on Nanjing West Road in Shanghai on October 2nd. As most department stores in Shanghai, Marks & Spencer operates clothing, foods, furniture and so on. But as a British old brand department store, all the goods of Marks & Spencer are private lable goods. And shopping baskets and trolleys are available, so consumers can do shopping in department stores just like in supermarkets
Marks & Spencer, one of British retail giants, will make its debut on Nanjing West Road in Shanghai on October 2nd. As most department stores in Shanghai, Marks & Spencer operates clothing, foods, furniture and so on. But as a British old brand department store, all the goods of Marks & Spencer are private lable goods. And shopping baskets and trolleys are available, so consumers can do shopping in department stores just like in supermarkets
First L.L.Bean Store to Open in Beijing in Sept. 2008
L.L.Bean, a retailer of outdoor gear and apparel, is opening its first store in China's capital Beijing this month.
The store will be located in the Solana Mall in Beijing and will be operated through a joint venture between the 96-year old Maine outfitter and Youngone Corporation of Korea. The open-air lifestyle shopping center Solana Mall is located in Chaoyang Park, one of the largest urban parks in Asia.
The store opening marks the first time that L.L.Bean products are available directly to consumers in China. The Beijing store will offer about 300 square meters of retail space, and is the first of five L.L.Bean stores scheduled to open this year as part of the company's China-based joint venture.
The store has been designed as a "total outdoor lifestyle shop" and will provide a product assortment to support the growing active outdoor lifestyle in China. L.L.Bean product offerings will include men's, women's and children's outdoor apparel and footwear, luggage, and a selection of outdoor sporting goods including hiking and camping equipment.
Planning is currently underway for the Solana store's grand opening. There will be a number of special events and activities and special archival displays of vintage products and photographs reflecting the heritage of the company.
The store will be located in the Solana Mall in Beijing and will be operated through a joint venture between the 96-year old Maine outfitter and Youngone Corporation of Korea. The open-air lifestyle shopping center Solana Mall is located in Chaoyang Park, one of the largest urban parks in Asia.
The store opening marks the first time that L.L.Bean products are available directly to consumers in China. The Beijing store will offer about 300 square meters of retail space, and is the first of five L.L.Bean stores scheduled to open this year as part of the company's China-based joint venture.
The store has been designed as a "total outdoor lifestyle shop" and will provide a product assortment to support the growing active outdoor lifestyle in China. L.L.Bean product offerings will include men's, women's and children's outdoor apparel and footwear, luggage, and a selection of outdoor sporting goods including hiking and camping equipment.
Planning is currently underway for the Solana store's grand opening. There will be a number of special events and activities and special archival displays of vintage products and photographs reflecting the heritage of the company.
China, U.S. reach agreements on boosting trade ties
[ 2008-09-18 ]
Chinese and U.S. delegations at the 19th meeting of China-U.S. Joint Commission on Commerce and Trade (JCCT) Tuesday reached several agreements on boosting trade ties at the Richard Nixon Presidential Library near Los Angeles.
The signing of these agreements, on food security, loan for medical equipment trade, promotion of digital TV, agricultural cooperation and trade statistics respectively, marked the 25th anniversary of the establishment of the JCCT. At the one-day JCCT meeting co-chaired by Chinese Vice Premier Wang Qishan, U.S. Secretary of Commerce Carlos Gutierrez and U.S. Trade Representative Susan Schwab, the two sides also agreed to boost the cooperation between their working groups in such fields as intellectual property rights and information industry within the JCCT framework.
The JCCT is a high-level government-to-government dialogue mechanism for seeking open market opportunities and resolving trade disputes between the two countries.
Wang, heading the Chinese delegation, said the JCCT mechanism has served as a significant platform for Sino-U.S. consultation in such fields as trade and investment and has played an important role in solving their trade problems and extending economic and trade cooperation.
Noting the two countries are mutually complementary in economy and enjoy a solid foundation for cooperation, Wang said their economic and trade ties are important to each other and even to the whole world.
The two sides should take full advantage of the JCCT and resort to communication to boost mutual understanding, extend economic and trade cooperation as well as creating favorable legal, systematic and mechanism condition for the development of enterprises and markets of the two countries, Wang said.
Gutierrez, for his part, said the U.S. side has attached great importance to the JCCT mechanism and is willing to promote the U.S.-China dialogue, cooperation and partnership within the JCCT framework for a brilliant prospect for bilateral economic and trade ties.
Meanwhile, Schwab expressed Washington's willingness to solve the problems that have emerged in the development of bilateral economic and trade cooperation within the JCCT framework.
Noting China now ranks as the 2nd biggest trade partner for the United States, Schwab said the U.S. side favors a long-term and stable development in the economic and trade relations with China to benefit both peoples.
Chinese and U.S. delegations at the 19th meeting of China-U.S. Joint Commission on Commerce and Trade (JCCT) Tuesday reached several agreements on boosting trade ties at the Richard Nixon Presidential Library near Los Angeles.
The signing of these agreements, on food security, loan for medical equipment trade, promotion of digital TV, agricultural cooperation and trade statistics respectively, marked the 25th anniversary of the establishment of the JCCT. At the one-day JCCT meeting co-chaired by Chinese Vice Premier Wang Qishan, U.S. Secretary of Commerce Carlos Gutierrez and U.S. Trade Representative Susan Schwab, the two sides also agreed to boost the cooperation between their working groups in such fields as intellectual property rights and information industry within the JCCT framework.
The JCCT is a high-level government-to-government dialogue mechanism for seeking open market opportunities and resolving trade disputes between the two countries.
Wang, heading the Chinese delegation, said the JCCT mechanism has served as a significant platform for Sino-U.S. consultation in such fields as trade and investment and has played an important role in solving their trade problems and extending economic and trade cooperation.
Noting the two countries are mutually complementary in economy and enjoy a solid foundation for cooperation, Wang said their economic and trade ties are important to each other and even to the whole world.
The two sides should take full advantage of the JCCT and resort to communication to boost mutual understanding, extend economic and trade cooperation as well as creating favorable legal, systematic and mechanism condition for the development of enterprises and markets of the two countries, Wang said.
Gutierrez, for his part, said the U.S. side has attached great importance to the JCCT mechanism and is willing to promote the U.S.-China dialogue, cooperation and partnership within the JCCT framework for a brilliant prospect for bilateral economic and trade ties.
Meanwhile, Schwab expressed Washington's willingness to solve the problems that have emerged in the development of bilateral economic and trade cooperation within the JCCT framework.
Noting China now ranks as the 2nd biggest trade partner for the United States, Schwab said the U.S. side favors a long-term and stable development in the economic and trade relations with China to benefit both peoples.
Apparel Retail Sales Soar 29.5% in August
[ 2008-09-18 ]
Driven by robust consumer spending and easing inflationary concerns, Chinese retail sales climbed at the fastest pace in twelve years in August.
Sales surged 23.2% to 876.8 billion yuan or approximately 128 billion U.S. dollars, while total January through August sales were up 21.9% to 6.8 trillion yuan. What made this sales growth even more impressive was the fact that food inflation had waned.
Apparel sales were at the forefront of these gains, with sales increasing 29.5% from the previous year, while jewelry sales soared 44.3%.
Driven by robust consumer spending and easing inflationary concerns, Chinese retail sales climbed at the fastest pace in twelve years in August.
Sales surged 23.2% to 876.8 billion yuan or approximately 128 billion U.S. dollars, while total January through August sales were up 21.9% to 6.8 trillion yuan. What made this sales growth even more impressive was the fact that food inflation had waned.
Apparel sales were at the forefront of these gains, with sales increasing 29.5% from the previous year, while jewelry sales soared 44.3%.
Bringing anti-radiation clothing to future mothers
[ 2008-9-16 ]
Instead of taking over her father's company, as the daughter of a successful entrepreneur, Xu Taofang has established her own leading brand in the anti-radiation clothing sector for pregnant women: Tianxiang.
Tianxiang's turnover had amounted to 320 million yuan ($46.76 million) as of last year and it reached 370 million yuan in the first half of this year.
"We expect it to keep a growth rate at 40 to 50 percent in the second half," Xu said.
However, six years ago when Xu finished her bachelor's degree in Singapore, she was given sales work by her father, founder of Shanghai Honest Fashion Co Ltd, a clothing company specialized in producing clothing for middle- and old-aged women.
Xu, 21 years old at that time, found that the anti-radiation clothing, which can block the radiation from computers, TVs and microwave ovens, was little recognized in China, while anti-radiation clothing for pregnant women, protecting the growing babies from any radiation was very popular in Singapore.
Her father, who thought the market was very narrow, reluctantly agreed to her suggestion to turn the company gradually from traditional clothing production to high-tech anti-radiation clothing.
And so Tianxiang brand anti-radiation clothing for pregnant women was born. All materials were imported from Japan, as anti-radiation materials were unavailable in China at that time. However, high prices due to the costly imported materials, poor design and the weakness of the material impeded Tianxiang’s sales. It was sold at a price of around 1,500 yuan per piece. Its anti-radiation function decreased after being worn for three months and it was unwashable.
Overcoming the hurdle
To lower the material costs, Xu succeeded in persuading Tianxiang's Japanese material suppliers to transfer part of their production line to China. Lower labor costs benefited both of them and Xu was also able to study their production technology during the processing procedures.
Meanwhile, in order to develop their own anti-radiation cloth, she set up a 30,000-sq m base in Shangdong for anti-radiation fiber production and logistics. Finally, Tianxiang developed its own metal fiber and the nano-silver fiber cloth, greatly cutting the material costs.
"The cost of our self-developed anti-radiation cloth is only one-third of imported cloth", Xu said, Tianxiang is currently being sold at 550 yuan a piece.
"We also solved the problem that the imported anti-radiation cloth was unwashable. Now, Tianxiang supplies materials to over 60 percent of anti-radiation clothing manufacturers in China."
Tianxiang was invited to work out the national standards for anti-radiation clothing.
New sales channels
Due to limited start-up capital, Xu first chose the emerging e-commerce channel instead of traditional sales channels of department stores or direct-selling shops.
"I found the turnover of e-commerce websites, such as eachnet.com was fairly high. I think publicizing Tianxiang on the Internet will be faster than traditional advertising means and cost less", Xu said. Tianxiang has 41,327 e-commerce outlets so far.
And as well, she invited European suit-dress teams to design Tianxiang clothing in accordance with market research results and fashions. Fashionable and colorful Tianxiang soon won customers' recognition.
After opening the market, Xu begun to contact dealers, entering into department stores and establishing direct-selling shops. And two years ago, she began to cooperate with M18 and TVSN, two mail order operators to broaden Tianxiang's sales channels. Tianxiang has become a supplier to 5,017 terminal online dealers and over 10 category direct-selling dealers.
Extending production lines
The product cost of Chinese garment companies rose 15 percent in average in the first half of this year, the labor cost 30 percent, and the material cost 9 percent, according to the China National Garment Association.
Higher costs and marketing expenditure and fiercer competition in the anti-radiation clothing market leaves Tianxiang with thinner margins, Xu said.
In order to offset the pressure of higher materials, the company intended to merge a tinsel supplier and also upgrade its products to reduce costs.
Meanwhile, Tianxiang brand has been extended from pregnant women's clothing, creating new products such as anti-radiation underwears for future fathers, clothing for children and suits for white-collars.
Anti-radiation underwears for future fathers have become a new profit growth point for the company as their monthly turnover grows by more than 20 percent.
Xu and her employees are confident about their business as they believe that all computer users are potential consumers of anti-radiation clothing.
source: China Daily
Instead of taking over her father's company, as the daughter of a successful entrepreneur, Xu Taofang has established her own leading brand in the anti-radiation clothing sector for pregnant women: Tianxiang.
Tianxiang's turnover had amounted to 320 million yuan ($46.76 million) as of last year and it reached 370 million yuan in the first half of this year.
"We expect it to keep a growth rate at 40 to 50 percent in the second half," Xu said.
However, six years ago when Xu finished her bachelor's degree in Singapore, she was given sales work by her father, founder of Shanghai Honest Fashion Co Ltd, a clothing company specialized in producing clothing for middle- and old-aged women.
Xu, 21 years old at that time, found that the anti-radiation clothing, which can block the radiation from computers, TVs and microwave ovens, was little recognized in China, while anti-radiation clothing for pregnant women, protecting the growing babies from any radiation was very popular in Singapore.
Her father, who thought the market was very narrow, reluctantly agreed to her suggestion to turn the company gradually from traditional clothing production to high-tech anti-radiation clothing.
And so Tianxiang brand anti-radiation clothing for pregnant women was born. All materials were imported from Japan, as anti-radiation materials were unavailable in China at that time. However, high prices due to the costly imported materials, poor design and the weakness of the material impeded Tianxiang’s sales. It was sold at a price of around 1,500 yuan per piece. Its anti-radiation function decreased after being worn for three months and it was unwashable.
Overcoming the hurdle
To lower the material costs, Xu succeeded in persuading Tianxiang's Japanese material suppliers to transfer part of their production line to China. Lower labor costs benefited both of them and Xu was also able to study their production technology during the processing procedures.
Meanwhile, in order to develop their own anti-radiation cloth, she set up a 30,000-sq m base in Shangdong for anti-radiation fiber production and logistics. Finally, Tianxiang developed its own metal fiber and the nano-silver fiber cloth, greatly cutting the material costs.
"The cost of our self-developed anti-radiation cloth is only one-third of imported cloth", Xu said, Tianxiang is currently being sold at 550 yuan a piece.
"We also solved the problem that the imported anti-radiation cloth was unwashable. Now, Tianxiang supplies materials to over 60 percent of anti-radiation clothing manufacturers in China."
Tianxiang was invited to work out the national standards for anti-radiation clothing.
New sales channels
Due to limited start-up capital, Xu first chose the emerging e-commerce channel instead of traditional sales channels of department stores or direct-selling shops.
"I found the turnover of e-commerce websites, such as eachnet.com was fairly high. I think publicizing Tianxiang on the Internet will be faster than traditional advertising means and cost less", Xu said. Tianxiang has 41,327 e-commerce outlets so far.
And as well, she invited European suit-dress teams to design Tianxiang clothing in accordance with market research results and fashions. Fashionable and colorful Tianxiang soon won customers' recognition.
After opening the market, Xu begun to contact dealers, entering into department stores and establishing direct-selling shops. And two years ago, she began to cooperate with M18 and TVSN, two mail order operators to broaden Tianxiang's sales channels. Tianxiang has become a supplier to 5,017 terminal online dealers and over 10 category direct-selling dealers.
Extending production lines
The product cost of Chinese garment companies rose 15 percent in average in the first half of this year, the labor cost 30 percent, and the material cost 9 percent, according to the China National Garment Association.
Higher costs and marketing expenditure and fiercer competition in the anti-radiation clothing market leaves Tianxiang with thinner margins, Xu said.
In order to offset the pressure of higher materials, the company intended to merge a tinsel supplier and also upgrade its products to reduce costs.
Meanwhile, Tianxiang brand has been extended from pregnant women's clothing, creating new products such as anti-radiation underwears for future fathers, clothing for children and suits for white-collars.
Anti-radiation underwears for future fathers have become a new profit growth point for the company as their monthly turnover grows by more than 20 percent.
Xu and her employees are confident about their business as they believe that all computer users are potential consumers of anti-radiation clothing.
source: China Daily
Huahai Road in Shanghai home to Hermes
[ 2008-09-16 ]
THE fourth "Hermes Home" will make its debut in Huaihai Road along with several other upmarket brands as the street turns into a fashion window for the 2010 Shanghai World Expo, Jiefang Daily reported today.
The Hermes flagship store will be found at Huaihai Zhong and Songshan Roads covering more than 4,000 square meters. It will be a landmark for stylish Huahai Road with an outlet that will include not just retail but a fashion house and art gallery and is planned to open in April 2010.
It is part of a program to turn Huahai Road into a street of fashion and style.
In an "energetic and creative" section between Ruijin Er Road and Chongqin Nan Road, at 550 Huahai Road "The Barbie Experience Hall" will be found spreading over 7,000 square meters.
As well leading retailers "H&M," "C&A," "ZARA" and "Y By" will be neighbors in a fashion center.
The "Classic Century" project area between Shaanxi Nan Road and Ruijin Er Road on 796 Huaihai Road project will soon be welcoming visitors. The developer the Richemont Group has signed a contract to rent the garden at No. 796, Huaihai Road for boutique shops Dunhill and Vacheron Constantin, leading private club Kee and the ShanghaiArt Gallery by October.
The fashion area will see more upmarket hotels opening in the third stage of Xintiandi. Seven streets around Huaihai Road will be renovated at
the same time, including Chendu, Yandang, Madang and Maoming Road.
THE fourth "Hermes Home" will make its debut in Huaihai Road along with several other upmarket brands as the street turns into a fashion window for the 2010 Shanghai World Expo, Jiefang Daily reported today.
The Hermes flagship store will be found at Huaihai Zhong and Songshan Roads covering more than 4,000 square meters. It will be a landmark for stylish Huahai Road with an outlet that will include not just retail but a fashion house and art gallery and is planned to open in April 2010.
It is part of a program to turn Huahai Road into a street of fashion and style.
In an "energetic and creative" section between Ruijin Er Road and Chongqin Nan Road, at 550 Huahai Road "The Barbie Experience Hall" will be found spreading over 7,000 square meters.
As well leading retailers "H&M," "C&A," "ZARA" and "Y By" will be neighbors in a fashion center.
The "Classic Century" project area between Shaanxi Nan Road and Ruijin Er Road on 796 Huaihai Road project will soon be welcoming visitors. The developer the Richemont Group has signed a contract to rent the garden at No. 796, Huaihai Road for boutique shops Dunhill and Vacheron Constantin, leading private club Kee and the ShanghaiArt Gallery by October.
The fashion area will see more upmarket hotels opening in the third stage of Xintiandi. Seven streets around Huaihai Road will be renovated at
the same time, including Chendu, Yandang, Madang and Maoming Road.
Belle nets gains from takeovers
[ 2008-9-11 ]
BELLE International Holdings Ltd, China's largest retailer of women's shoes, said first-half operating profit climbed 64 percent after it bought rivals to expand in the world's fastest-growing major economy.
Operating profit rose to 1.14 billion yuan (US$167 million) from 694.2 million yuan a year earlier, the Shenzhen-based company said in a statement to Hong Kong's stock exchange yesterday. Sales jumped 60 percent to 8.23 billion yuan.Belle this year bought Hong Kong's Mirabell International Holdings Ltd in a deal valued at HK$1.57 billion (US$201.32 million), after buying the rights to the Fila Luxembourg trademarks last year.
The retailer, which also sells Adidas, Nike and Puma products, also benefited from demand before the Beijing Olympic Games in August."Acquisitions have made a significant contribution to the company," Ken Lee, a consumer analyst at UOB-Kay Hian Ltd who rates Belle stock "hold," said before the release. "The Olympics also helped the sportswear business and store openings also boosted sales."
China's retail sales rose 23.3 percent in July, the fastest pace in at least nine years, according to government data. Urban disposable incomes increased 14.4 percent in the first half, helping to drive domestic consumption as exports and fixed-asset investment slowed, Bloomberg News said.Belle's sales network increased to 8,355 outlets at the end of June, after adding 2,212 shops, including Mirabell's stores, in the first half. First-half earnings fell to 988.1 million yuan from 1 billion yuan a year earlier, as tax expenses rose and finance income dropped. Belle proposed an interim dividend of 0.03 yuan, the same as a year earlier.
Belle slid 9.8 percent to close at HK$6.23 in Hong Kong yesterday.
BELLE International Holdings Ltd, China's largest retailer of women's shoes, said first-half operating profit climbed 64 percent after it bought rivals to expand in the world's fastest-growing major economy.
Operating profit rose to 1.14 billion yuan (US$167 million) from 694.2 million yuan a year earlier, the Shenzhen-based company said in a statement to Hong Kong's stock exchange yesterday. Sales jumped 60 percent to 8.23 billion yuan.Belle this year bought Hong Kong's Mirabell International Holdings Ltd in a deal valued at HK$1.57 billion (US$201.32 million), after buying the rights to the Fila Luxembourg trademarks last year.
The retailer, which also sells Adidas, Nike and Puma products, also benefited from demand before the Beijing Olympic Games in August."Acquisitions have made a significant contribution to the company," Ken Lee, a consumer analyst at UOB-Kay Hian Ltd who rates Belle stock "hold," said before the release. "The Olympics also helped the sportswear business and store openings also boosted sales."
China's retail sales rose 23.3 percent in July, the fastest pace in at least nine years, according to government data. Urban disposable incomes increased 14.4 percent in the first half, helping to drive domestic consumption as exports and fixed-asset investment slowed, Bloomberg News said.Belle's sales network increased to 8,355 outlets at the end of June, after adding 2,212 shops, including Mirabell's stores, in the first half. First-half earnings fell to 988.1 million yuan from 1 billion yuan a year earlier, as tax expenses rose and finance income dropped. Belle proposed an interim dividend of 0.03 yuan, the same as a year earlier.
Belle slid 9.8 percent to close at HK$6.23 in Hong Kong yesterday.
Shinsegae plans to open 100 China stores before 2015
[ 2008-09-11 ]
Recently, South Korean retailer Shinsegae Department Store said that the company plans to open 100 discount stores in China before 2015. Shinsegae operates a hypermarket Kingdom E-Mart in Korea and plans to invest more than 500 billion KRW (about 461 million USD) in China in the next 6 years to open more branches.
Shinsegae said that the next goal is to open 70 stores before 2012 and complete the establishment of 100 stores in China before 2015. Currently, Shinsegae Group has opened 15 E-Mart stores in China. The sale of E-Mart will reach around 400 billion KRW in 2008, while the sale of last year is 250 billion KRW.
Recently, South Korean retailer Shinsegae Department Store said that the company plans to open 100 discount stores in China before 2015. Shinsegae operates a hypermarket Kingdom E-Mart in Korea and plans to invest more than 500 billion KRW (about 461 million USD) in China in the next 6 years to open more branches.
Shinsegae said that the next goal is to open 70 stores before 2012 and complete the establishment of 100 stores in China before 2015. Currently, Shinsegae Group has opened 15 E-Mart stores in China. The sale of E-Mart will reach around 400 billion KRW in 2008, while the sale of last year is 250 billion KRW.
Maison Mode's China Flagship Begins Trial Operation
[ 2008-09-11 ]
Maison Mode, the international department store brand, has began the trial operation of its first flagship store in the central China area.
Located at Yunda International Plaza, Changsha, the new Maison Mode department store introduces 32 top international brands, including Louis Vuitton, Salvatore Ferragamo, Gucci, Cartier, Dunhill, MaxMara, Emporio, and Armani, covering products from the world's most famous luxurious markets such as France, Italy, Switzerland, and Denmark. Of these brands, over 70% are appearing in Changsha and even in the Central China market for the first time.
The Maison Mode Changsha department store is the group's fifth flagship store in China. It has already established a presence in four major cities in China, including Chengdu, Chongqing, Shanghai, and Tianjin.
According to the group's development plan, four new Maison Mode stores will be opened in 2008 ?in Beijing, Shenyang, Urumqi, and Changsha.
Maison Mode, the international department store brand, has began the trial operation of its first flagship store in the central China area.
Located at Yunda International Plaza, Changsha, the new Maison Mode department store introduces 32 top international brands, including Louis Vuitton, Salvatore Ferragamo, Gucci, Cartier, Dunhill, MaxMara, Emporio, and Armani, covering products from the world's most famous luxurious markets such as France, Italy, Switzerland, and Denmark. Of these brands, over 70% are appearing in Changsha and even in the Central China market for the first time.
The Maison Mode Changsha department store is the group's fifth flagship store in China. It has already established a presence in four major cities in China, including Chengdu, Chongqing, Shanghai, and Tianjin.
According to the group's development plan, four new Maison Mode stores will be opened in 2008 ?in Beijing, Shenyang, Urumqi, and Changsha.
Hermes plans 3-4 new stores per year in China
[ 2008-09-09 ]
SHANGHAI (Reuters) - Paris-based luxury group Hermes plans to open three to four stores in China each year over the next three years, tapping the country's growing ranks of affluent consumers, a senior executive said on Tuesday.
The company, which already operates 12 stores in China, has doubled its sales in the country every year for the last three years although that pace will be hard to maintain in the years ahead as the revenue base has widened, Hermes Executive Vice President Patrick Albaladejo said in an interview.
He declined to give a figure for the company's annual sales in China, but said it was less than $50 million.
The company posted 1.63 billion euros ($2.30 billion) in global sales last year.
"We expect to see very, very solid growth in our existing stores in China," Patrick said. "We're just at the beginning of the potential we'd like to tap."
China had 415,000 millionaires in U.S. dollar terms at the end of 2007, ranking fifth worldwide, according to a report by Merrill Lynch and consultancy Capgemini. The number has been rising as the economy surged at double-digit rates over the last five years.
The market has been targeted by luxury goods makers including Gucci, LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz) and Italy's Tod's (TOD.MI: Quote, Profile, Research, Stock Buzz).
China has the potential to become one of Hermes' top five global markets in four to five years, Albaladejo said.
Known for its upmarket leather handbags and themed scarves, Hermes has said it will aim for 10 percent organic sales growth worldwide in 2008 and has an operating margin target of 25.5 percent for the year.
"The bulk of our customers is a select group of very rich people whose lifestyle is not influenced by the economic slowdown," Albaladejo said.
In Japan, however, many Hermes customers are middle-class consumers and its business has suffered with the soft economy, he said.
Hermes, also known for its "H"-embossed belts and perfumes such as Bel-Ami and Caleche, sells watches and perfumes through department stores in China.
SHANGHAI (Reuters) - Paris-based luxury group Hermes plans to open three to four stores in China each year over the next three years, tapping the country's growing ranks of affluent consumers, a senior executive said on Tuesday.
The company, which already operates 12 stores in China, has doubled its sales in the country every year for the last three years although that pace will be hard to maintain in the years ahead as the revenue base has widened, Hermes Executive Vice President Patrick Albaladejo said in an interview.
He declined to give a figure for the company's annual sales in China, but said it was less than $50 million.
The company posted 1.63 billion euros ($2.30 billion) in global sales last year.
"We expect to see very, very solid growth in our existing stores in China," Patrick said. "We're just at the beginning of the potential we'd like to tap."
China had 415,000 millionaires in U.S. dollar terms at the end of 2007, ranking fifth worldwide, according to a report by Merrill Lynch and consultancy Capgemini. The number has been rising as the economy surged at double-digit rates over the last five years.
The market has been targeted by luxury goods makers including Gucci, LVMH (LVMH.PA: Quote, Profile, Research, Stock Buzz) and Italy's Tod's (TOD.MI: Quote, Profile, Research, Stock Buzz).
China has the potential to become one of Hermes' top five global markets in four to five years, Albaladejo said.
Known for its upmarket leather handbags and themed scarves, Hermes has said it will aim for 10 percent organic sales growth worldwide in 2008 and has an operating margin target of 25.5 percent for the year.
"The bulk of our customers is a select group of very rich people whose lifestyle is not influenced by the economic slowdown," Albaladejo said.
In Japan, however, many Hermes customers are middle-class consumers and its business has suffered with the soft economy, he said.
Hermes, also known for its "H"-embossed belts and perfumes such as Bel-Ami and Caleche, sells watches and perfumes through department stores in China.
Shop 'til you drop in Jing'an
[ 2008-09-06 ]
START saving now - there's a shopping carnival ahead.
A three-week long festival in Jing'an District in Shanghai, from September 12 to October 5, will bring top international brands and traditional businesses together. There's more entertainment in store with cooking competitions for expats, the district government said yesterday.
The carnival is part of the Second Shanghai Shopping Festival, and malls like Westgate, Plaza 66 and Citic Square on Nanjing Road W. will stock up for the big event, said Lu Xiaodong, who is deputy head of Jing'an District.
At least 20 expats will take part in a cooking competition on September 22 at Meilongzhen Restaurant, an authentic Shanghai food joint, said Ye Jianhua, who works with the district economic commission. Expats will try their hand at traditional Shanghai cuisine after getting lessons from Chinese chefs in making dumplings, wontons and spring rolls.
The district government will also invite administrators from New York, London and Tokyo to attend a forum. They will seek suggestions for improving Nanjing Road - a major commercial and tourist zone of Shanghai.
START saving now - there's a shopping carnival ahead.
A three-week long festival in Jing'an District in Shanghai, from September 12 to October 5, will bring top international brands and traditional businesses together. There's more entertainment in store with cooking competitions for expats, the district government said yesterday.
The carnival is part of the Second Shanghai Shopping Festival, and malls like Westgate, Plaza 66 and Citic Square on Nanjing Road W. will stock up for the big event, said Lu Xiaodong, who is deputy head of Jing'an District.
At least 20 expats will take part in a cooking competition on September 22 at Meilongzhen Restaurant, an authentic Shanghai food joint, said Ye Jianhua, who works with the district economic commission. Expats will try their hand at traditional Shanghai cuisine after getting lessons from Chinese chefs in making dumplings, wontons and spring rolls.
The district government will also invite administrators from New York, London and Tokyo to attend a forum. They will seek suggestions for improving Nanjing Road - a major commercial and tourist zone of Shanghai.
Daily sales on Beijing's market up 17% during Olympics
[ 2008-09-01 ]
Sales of 193 sample enterprises in Beijing averaged 190 million yuan (about 27 million U.S. dollars) per day during the Olympics, up 17 percent from the same period last year, said Beijing Municipal Bureau of Commerce on Tuesday.
The sample enterprises included stores with a distinctive "Chinese flavor" such as those in the Silk Street and famous traditional restaurants like Quanjude, known for roast ducks.
From Aug. 1 to 24, nearly one million people visited the five-floor Silk Street mall in eastern Beijing, pushing its sales to 383 million yuan (about 56 million U.S. dollars), eight times as much as that in the same period last year.
Tailored clothes, silk by the roll, jewelries and chinaware were most popular among customers, of which foreigners accounted for 80 percent including state heads and government officials from 24 countries and world famous athletes.
For example, the 14-time Olympic gold medalist Michael Phelps, pole vault world record keeper Isinbaeva, NBA star Manu Ginobili and the Argentine soccer team all went shopping at Silk Street.
Visitors from home and abroad poured into old restaurants such as Quanjude and Bianyifang to taste the special-flavored duck.
Quanjude restaurant chains received visitors totaling more than previous records set during Golden Week holidays and Spring Festivals. On one night, people lined up outside the Quanjude restaurant at Hepingmen amounted to 400.
Another chain restaurant Bianyifang sold more than 580 roast ducks every day. Its sales were up 30 percent compared with the same period last year.
An Australian newspaper even speculated that the roast duck helped swimmer Libby Trickett win her gold medal as she could not stand a meal without it.
Sales of 193 sample enterprises in Beijing averaged 190 million yuan (about 27 million U.S. dollars) per day during the Olympics, up 17 percent from the same period last year, said Beijing Municipal Bureau of Commerce on Tuesday.
The sample enterprises included stores with a distinctive "Chinese flavor" such as those in the Silk Street and famous traditional restaurants like Quanjude, known for roast ducks.
From Aug. 1 to 24, nearly one million people visited the five-floor Silk Street mall in eastern Beijing, pushing its sales to 383 million yuan (about 56 million U.S. dollars), eight times as much as that in the same period last year.
Tailored clothes, silk by the roll, jewelries and chinaware were most popular among customers, of which foreigners accounted for 80 percent including state heads and government officials from 24 countries and world famous athletes.
For example, the 14-time Olympic gold medalist Michael Phelps, pole vault world record keeper Isinbaeva, NBA star Manu Ginobili and the Argentine soccer team all went shopping at Silk Street.
Visitors from home and abroad poured into old restaurants such as Quanjude and Bianyifang to taste the special-flavored duck.
Quanjude restaurant chains received visitors totaling more than previous records set during Golden Week holidays and Spring Festivals. On one night, people lined up outside the Quanjude restaurant at Hepingmen amounted to 400.
Another chain restaurant Bianyifang sold more than 580 roast ducks every day. Its sales were up 30 percent compared with the same period last year.
An Australian newspaper even speculated that the roast duck helped swimmer Libby Trickett win her gold medal as she could not stand a meal without it.
Berghaus Plans To Open 200 Stores In China
Berghaus, a British outdoor clothing and equipment brand, has announced plans to open 200 stores across China.
Berghaus has signed a six-year contract with Symphony Resources, a subsidiary of the Hong Kong listed Symphony Holdings to jointly expand the businesses of Berghaus in China.
Allan Chan, general manager of Symphony Resources, stated that the emerging outdoor activities market in China has a great potential and this is a perfect time for Berghaus to enter the market.
Taking its expansion in Asia as a key strategy in becoming one of the world's top five outdoor brands, Berghaus plans to open 400 stores in Asia in the next five years, of which 200 will be located in China. At present, Berghaus has 24 stores in South Korea and it has extended its brand's reach in Japan by signing a five-year agreement with licensee Arugo Active earlier this year.
Founded in Newcastle upon Tyne, the company was renamed Berghaus because of its standing in the German market.
Berghaus has signed a six-year contract with Symphony Resources, a subsidiary of the Hong Kong listed Symphony Holdings to jointly expand the businesses of Berghaus in China.
Allan Chan, general manager of Symphony Resources, stated that the emerging outdoor activities market in China has a great potential and this is a perfect time for Berghaus to enter the market.
Taking its expansion in Asia as a key strategy in becoming one of the world's top five outdoor brands, Berghaus plans to open 400 stores in Asia in the next five years, of which 200 will be located in China. At present, Berghaus has 24 stores in South Korea and it has extended its brand's reach in Japan by signing a five-year agreement with licensee Arugo Active earlier this year.
Founded in Newcastle upon Tyne, the company was renamed Berghaus because of its standing in the German market.
Skechers JV Grows Its Operations In HK & Macau
Footwear company Skechers USA, Inc. has expanded its operations in Hong Kong and Macau through a joint venture ?Skechers Hong Kong Limited ?with the Onwel Group, a leading fashion company in the region.
The new joint venture in Hong Kong follows on the heels of Skechers China Limited, a joint venture with Luen Thai Enterprises established earlier this year.
Skechers Hong Kong has already started to deliver a full-range of men's, women's and children's Skechers footwear by establishing its own retail stores. It will also deliver Skechers products through a network of wholesale accounts starting from the Spring 2009 season. Skechers Hong Kong expects to improve its wholesale distribution with 200 new stores in the next two years and plans to triple its sales within three years.
The new joint venture in Hong Kong follows on the heels of Skechers China Limited, a joint venture with Luen Thai Enterprises established earlier this year.
Skechers Hong Kong has already started to deliver a full-range of men's, women's and children's Skechers footwear by establishing its own retail stores. It will also deliver Skechers products through a network of wholesale accounts starting from the Spring 2009 season. Skechers Hong Kong expects to improve its wholesale distribution with 200 new stores in the next two years and plans to triple its sales within three years.
Xtep Plans To Open 1,100 New Stores In 2008
[ 2008-09-05 ]
Xtep, the Fujian-based sports apparel brand, has published its financial report, which says that by June 30, 2008, the company has made net profits of CNY255 million, a year-on-year increase of 214%.
According to the report, Xtep achieved revenues of CNY1.408 billion in the first half of 2008, an increase of 174.3% compared with the same period last year. Of the total revenue, the sales of footwear products rose 86.3% to CNY704 million; and the sales of clothing rose 414% to CNY687 million. In addition, the company's Disney Sports and Koling brands contributed CNY95.05 million to its revenue.
Ding Shuibo, chairman of the board of directors of Xtep International, stated that in 2008, Xtep raised the prices of its footwear products and clothing by 9% and 16%, respectively, and the company plans to further raise these prices by 5% to 10% in 2009.
The report says that by the end of June 2008, the number of retail sites of Xtep's brands, including Xtep, Disney Sports, and Koling, both those that are managed by the group's distributors and by third-party retailers had reached 5,115, an increase of 468 stores compared with the end of 2007. Of these stores, the numbers of retail stores of Xtep, Disney Sports, and Koling were 4733, 332, and 50 respectively.
According to Xtep's development plan, the company will open a total of 1,100 new Xtep and Disney Sports specialty stores in the year 2008. At the same time, the company's total sales area is expected to expand by 100,000 square meters. With three existing flagship stores in Changsha, Wuhan, and Hefei, Xtep intends to increase the number of its flagship stores to ten before the end of 2008.
Xtep, the Fujian-based sports apparel brand, has published its financial report, which says that by June 30, 2008, the company has made net profits of CNY255 million, a year-on-year increase of 214%.
According to the report, Xtep achieved revenues of CNY1.408 billion in the first half of 2008, an increase of 174.3% compared with the same period last year. Of the total revenue, the sales of footwear products rose 86.3% to CNY704 million; and the sales of clothing rose 414% to CNY687 million. In addition, the company's Disney Sports and Koling brands contributed CNY95.05 million to its revenue.
Ding Shuibo, chairman of the board of directors of Xtep International, stated that in 2008, Xtep raised the prices of its footwear products and clothing by 9% and 16%, respectively, and the company plans to further raise these prices by 5% to 10% in 2009.
The report says that by the end of June 2008, the number of retail sites of Xtep's brands, including Xtep, Disney Sports, and Koling, both those that are managed by the group's distributors and by third-party retailers had reached 5,115, an increase of 468 stores compared with the end of 2007. Of these stores, the numbers of retail stores of Xtep, Disney Sports, and Koling were 4733, 332, and 50 respectively.
According to Xtep's development plan, the company will open a total of 1,100 new Xtep and Disney Sports specialty stores in the year 2008. At the same time, the company's total sales area is expected to expand by 100,000 square meters. With three existing flagship stores in Changsha, Wuhan, and Hefei, Xtep intends to increase the number of its flagship stores to ten before the end of 2008.
Li Ning's Profits Up 68.3% In The First Half Of 2008
[ 2008-09-01 ]
According to LiNing's half year report, the company's business developed rapidly in the first six months of 2008 and its net profits increased by 68.3% to CNY333.7 million.
Chen Weicheng, CFO and executive director of Li Ning, said at a press conference that the good performance of the company was due in part to the 2008 Beijing Olympic Games. By the end of June 2008, the company had made revenues of CNY3.06 billion, a year-on-year increase of 60.3%. The average increase rate of the sales of its individual stores around China was 26% in the first six months and the average numbers rose to 43% during the Olympics with an even higher rate of increase of 51% in the six Olympic cities.
Chen said that Li Ning increased the prices of its products by 3% to 5% in the first half of 2008 and by another 3% to 8% price increase may be implemented in the second half of the year.
With four sports brands ?DHS, Lotto, Aigle and Z-do ?Li Ning owns 5,853 stores around China. According to the company's development plan, the number of Li Ning stores will be over 6,200 by the end of 2008 and the number will be further increased to 7,000 at the end of 2009. By 2013, the company is expected to have opened more than 10,000 retail stores.
In addition, the company plans to further extend its businesses in international markets. Although the revenue of Li Ning's international market increased by 57.7% in the first half of 2008, it still accounted for only 1.1% of the total revenue of the company.
According to LiNing's half year report, the company's business developed rapidly in the first six months of 2008 and its net profits increased by 68.3% to CNY333.7 million.
Chen Weicheng, CFO and executive director of Li Ning, said at a press conference that the good performance of the company was due in part to the 2008 Beijing Olympic Games. By the end of June 2008, the company had made revenues of CNY3.06 billion, a year-on-year increase of 60.3%. The average increase rate of the sales of its individual stores around China was 26% in the first six months and the average numbers rose to 43% during the Olympics with an even higher rate of increase of 51% in the six Olympic cities.
Chen said that Li Ning increased the prices of its products by 3% to 5% in the first half of 2008 and by another 3% to 8% price increase may be implemented in the second half of the year.
With four sports brands ?DHS, Lotto, Aigle and Z-do ?Li Ning owns 5,853 stores around China. According to the company's development plan, the number of Li Ning stores will be over 6,200 by the end of 2008 and the number will be further increased to 7,000 at the end of 2009. By 2013, the company is expected to have opened more than 10,000 retail stores.
In addition, the company plans to further extend its businesses in international markets. Although the revenue of Li Ning's international market increased by 57.7% in the first half of 2008, it still accounted for only 1.1% of the total revenue of the company.
Adidas sales surge
[ 2008-08-25 ]
ADIDAS AG, the world's second-largest sporting-goods maker, yesterday said the Olympic Games boosted its first-half sales in China by 60 percent. China will become adidas's second biggest market after the US by the end of this year, based on the sales performance in the first six months, the company said.
ADIDAS AG, the world's second-largest sporting-goods maker, yesterday said the Olympic Games boosted its first-half sales in China by 60 percent. China will become adidas's second biggest market after the US by the end of this year, based on the sales performance in the first six months, the company said.
Parkson plans further growth with new stores
[ 2008-08-23 ]
PARKSON Retail Group Ltd, the Beijing-based department store chain controlled by Malaysia's Lion Group, said first-half profit rose 36 percent after acquisitions and the Chinese mainland's rising incomes boosted sales.
Net income rose to 411.8 million yuan (US$60.25 million), or 0.147 yuan a share, from 303.5 million yuan, or 0.11 yuan, a year earlier, the Hong Kong-listed retailer said yesterday. Sales increased 19 percent to 1.56 billion yuan.
Retail sales rose 23 percent in June after climbing 21.6 percent in May. The supermarket operator bought out partners in units last year including in Xi'an and Anshan, and said in May it would buy stakes in two stores from parent Parkson Holdings Bhd for 240 million yuan. The company said it planned to open "additional" new stores this year.
"We are beginning to see sales contribution from last year's acquisitions," Keith Li, retail analyst at CIMB-GK Securities (HK) Ltd who has a "neutral" rating on the stock, told Bloomberg News before the earnings were announced.
Sales at stores open more than a year grew 14.4 percent.
While the company faced slowing demand from export markets and accelerating inflation in the Chinese mainland, it forecast 2008 would be a "record-breaking" year for the group.
PARKSON Retail Group Ltd, the Beijing-based department store chain controlled by Malaysia's Lion Group, said first-half profit rose 36 percent after acquisitions and the Chinese mainland's rising incomes boosted sales.
Net income rose to 411.8 million yuan (US$60.25 million), or 0.147 yuan a share, from 303.5 million yuan, or 0.11 yuan, a year earlier, the Hong Kong-listed retailer said yesterday. Sales increased 19 percent to 1.56 billion yuan.
Retail sales rose 23 percent in June after climbing 21.6 percent in May. The supermarket operator bought out partners in units last year including in Xi'an and Anshan, and said in May it would buy stakes in two stores from parent Parkson Holdings Bhd for 240 million yuan. The company said it planned to open "additional" new stores this year.
"We are beginning to see sales contribution from last year's acquisitions," Keith Li, retail analyst at CIMB-GK Securities (HK) Ltd who has a "neutral" rating on the stock, told Bloomberg News before the earnings were announced.
Sales at stores open more than a year grew 14.4 percent.
While the company faced slowing demand from export markets and accelerating inflation in the Chinese mainland, it forecast 2008 would be a "record-breaking" year for the group.
Shanghai gets two La Go Go retail stores
[ 2008-08-22 ]
Ever-Glory International Group Inc a leading apparel supplier in the People's Republic of China, announced the August opening of two additional La Go Go retail stores in downtown Shanghai.
The stores are located in City Center Shopping Mall and Longzhimeng Shopping Mall in Shanghai and occupy 115 square meters and 71 square meters, respectively. Both shopping centers are in large, densely populated commercial districts.
With these two additions, the Company now operates four retail stores in Shanghai and 44 La Go Go stores in 21 other major Chinese cities. Currently, select stores offer more than 200 styles in the brand's summer and fall collections.
"We are very confident in our La Go Go retail expansion strategy, as domestic demand continues to grow rapidly," said Mr. Edward Yihua Kang, Chairman and Chief Executive Officer of Ever-Glory.
''Shanghai is an especially important market for La Go Go's development, as we launched the brand to target the urban youth ladies' wear market segment. Several additional Shanghai stores will open soon, part of our plan to open between 80 and 100 La Go Go stores in China this year.''
With a population of 16 million, Shanghai is one of the largest cities in China and has been recognized as one of the world's fashion centers, having hosted an annual fashion culture festival for 14 years.
Ever-Glory International Group Inc a leading apparel supplier in the People's Republic of China, announced the August opening of two additional La Go Go retail stores in downtown Shanghai.
The stores are located in City Center Shopping Mall and Longzhimeng Shopping Mall in Shanghai and occupy 115 square meters and 71 square meters, respectively. Both shopping centers are in large, densely populated commercial districts.
With these two additions, the Company now operates four retail stores in Shanghai and 44 La Go Go stores in 21 other major Chinese cities. Currently, select stores offer more than 200 styles in the brand's summer and fall collections.
"We are very confident in our La Go Go retail expansion strategy, as domestic demand continues to grow rapidly," said Mr. Edward Yihua Kang, Chairman and Chief Executive Officer of Ever-Glory.
''Shanghai is an especially important market for La Go Go's development, as we launched the brand to target the urban youth ladies' wear market segment. Several additional Shanghai stores will open soon, part of our plan to open between 80 and 100 La Go Go stores in China this year.''
With a population of 16 million, Shanghai is one of the largest cities in China and has been recognized as one of the world's fashion centers, having hosted an annual fashion culture festival for 14 years.
American Apparel Expands To China
[ 2008-08-11 ]
American Apparel Expands To China
March 17, 2008
LOS ANGELES ?American Apparel Inc.'s rapid retail rollout will soon count China as among its international conquests.
Timed to coincide with the upcoming Beijing Summer Olympics that has intensified foreign retail interest in a burgeoning Chinese middle class, the vertically integrated manufacturer of slim-fit T's and other perennial basics has announced its intent to open doors in Shanghai, Beijing and Suzhou in April.
The company is currently finalizing leases for the three locations.
Fleece hoodies, Tyvek jackets and other items soon to be sold to Chinese youth will continue to be manufactured at the company's downtown L.A. headquarters뾞 stark contrast from the current trans-Pacific apparel trade flow, where Chinese imports account for about one-third of all apparel sold in the U.S.
American Apparel joins a growing list of foreign companies entering a Chinese market flooded with designer labels, yet still rife with retail opportunity. The country has supplanted the U.S. as the top market for retail opportunities, according to a recent report by the consulting firm TNS Retail Forward.
In February, Louis Vuitton unveiled its first-ever television advertising campaign specifically targeted for rapid growth markets like China, while Fendi spent a reported $10 million for an October runway show atop a stretch of the Great Wall of China. Coach, Burberry and Gucci are among a growing number of labels that have significant direct retail presence in the world's most-populous country.
But American Apparel is not Gucci. With its focus on affordable fashion basics that lack conspicuous logos, the company is a marked contrast to many European designer labels popular with Chinese consumers.
"We expect to be an anomaly, and we expect it will take time, because we're not interested in chasing the market," American Apparel CEO Dov Charney told DNR in an interview last week. "The [upscale] brands have done well there, because Chinese consumers are a little into the glitz.... American Apparel doesn't provide that. There's no status associated with it, so we'll have to appeal to the early adapters who appreciate fit and simplicity."
The brand has proved viable in other Asian markets. American Apparel now operates five doors in Japan: three in Tokyo and one each in Osaka and Fukuoka. There are eight additional locations in South Korea.
"Clearly the upscale brands have an advantage in capturing the attention of shoppers [in China]," said TNS senior economist Frank Badillo. "But well-known, mid-tier brands still have an opportunity, so long as the brand can identify the niche it wants to target."
Several foreign mid-tier brands have already found success in the market, including Swedish retailer H&M and Spain's Zara, which opened a Shanghai flagship in 2006. It now boasts six doors in Hong Kong and six other locations in Mainland China.
"If you look back 10 years, there was a lot of Chinese government pressure to have foreign companies enter the market via a partnership with a state-owned enterprise," said Doug Hart, a partner in BDO Seidman's retail and consumer products group. "But if the consumer wants certain brands, the government has now realized that it needs to give these foreign companies greater freedom."
It's unknown whether American Apparel's provocative advertising campaigns will pass muster in China, however. In September, that government's State Administration of Radio, Film and Television banned TV ads for women's underwear, breast enhancement surgery and sex toys. "Sexually suggestive ads and bad ads not only mislead consumers seriously and harm public health, but are socially corrupting and morally depraving, and directly discredit the radio and TV industry," regulators said in a statement.
Charney said he may employ a campaign strategy in China similar to the U.S., with advertisements in a range of publications, from glossy fashion magazines to lowbrow metro weeklies. "So much foolish negative attention has been paid to the ad campaign. We figured out an eon ago that it's effective," he said. "It's obvious that young metropolitan adults are more sexualized than their parents, and they appreciate ads that are sexy and artistically provocative. I believe Chinese young people will understand the message of the advertising and will connect with it."
However, it's possible that the brand will opt for a soft launch in China with little advertising, he added.
Global retail expansion has accelerated since the company was acquired last year for a reported $382.5 million by Endeavor Acquisition Corp., a publicly traded investment firm created in 2005 by Eric Watson and U.S. Office Products founder Jonathan J. Ledecky. American Apparel has grown to 160 doors in 15 countries, and currently opens between two and six stores per month. "We've said before that we think we can open 800 [doors]," Charney said. The company may detail future expansion plans in its fourth-quarter earnings conference call today, he added.
Double-digit sales growth for the brand has recently rebounded, with a 23 percent rise in same-store sales during the first three quarters of 2007. Comps had slowed to a 5 percent gain in 2006, compared with a 45 percent increase in 2005.
The company's fair-wage policy뾦t pays its factory workers $12 per hour, more than twice the current federal minimum wage뾵ill extend to Chinese retail employees as well. "[Wages] will not be the same as the L.A. workers, but we will make sure that every worker in China receives at least a U.S. federal minimum wage per hour worked," Charney said.
In a nod to Olympic spirit, retro obsession and hometown pride, Charney said American Apparel's planned Chinese doors will feature apparel and in-store photo essays themed to the 1984 Summer Olympics in Los Angeles. "We love making garments that people want to wear. And we look forward to bringing that to China."
American Apparel Expands To China
March 17, 2008
LOS ANGELES ?American Apparel Inc.'s rapid retail rollout will soon count China as among its international conquests.
Timed to coincide with the upcoming Beijing Summer Olympics that has intensified foreign retail interest in a burgeoning Chinese middle class, the vertically integrated manufacturer of slim-fit T's and other perennial basics has announced its intent to open doors in Shanghai, Beijing and Suzhou in April.
The company is currently finalizing leases for the three locations.
Fleece hoodies, Tyvek jackets and other items soon to be sold to Chinese youth will continue to be manufactured at the company's downtown L.A. headquarters뾞 stark contrast from the current trans-Pacific apparel trade flow, where Chinese imports account for about one-third of all apparel sold in the U.S.
American Apparel joins a growing list of foreign companies entering a Chinese market flooded with designer labels, yet still rife with retail opportunity. The country has supplanted the U.S. as the top market for retail opportunities, according to a recent report by the consulting firm TNS Retail Forward.
In February, Louis Vuitton unveiled its first-ever television advertising campaign specifically targeted for rapid growth markets like China, while Fendi spent a reported $10 million for an October runway show atop a stretch of the Great Wall of China. Coach, Burberry and Gucci are among a growing number of labels that have significant direct retail presence in the world's most-populous country.
But American Apparel is not Gucci. With its focus on affordable fashion basics that lack conspicuous logos, the company is a marked contrast to many European designer labels popular with Chinese consumers.
"We expect to be an anomaly, and we expect it will take time, because we're not interested in chasing the market," American Apparel CEO Dov Charney told DNR in an interview last week. "The [upscale] brands have done well there, because Chinese consumers are a little into the glitz.... American Apparel doesn't provide that. There's no status associated with it, so we'll have to appeal to the early adapters who appreciate fit and simplicity."
The brand has proved viable in other Asian markets. American Apparel now operates five doors in Japan: three in Tokyo and one each in Osaka and Fukuoka. There are eight additional locations in South Korea.
"Clearly the upscale brands have an advantage in capturing the attention of shoppers [in China]," said TNS senior economist Frank Badillo. "But well-known, mid-tier brands still have an opportunity, so long as the brand can identify the niche it wants to target."
Several foreign mid-tier brands have already found success in the market, including Swedish retailer H&M and Spain's Zara, which opened a Shanghai flagship in 2006. It now boasts six doors in Hong Kong and six other locations in Mainland China.
"If you look back 10 years, there was a lot of Chinese government pressure to have foreign companies enter the market via a partnership with a state-owned enterprise," said Doug Hart, a partner in BDO Seidman's retail and consumer products group. "But if the consumer wants certain brands, the government has now realized that it needs to give these foreign companies greater freedom."
It's unknown whether American Apparel's provocative advertising campaigns will pass muster in China, however. In September, that government's State Administration of Radio, Film and Television banned TV ads for women's underwear, breast enhancement surgery and sex toys. "Sexually suggestive ads and bad ads not only mislead consumers seriously and harm public health, but are socially corrupting and morally depraving, and directly discredit the radio and TV industry," regulators said in a statement.
Charney said he may employ a campaign strategy in China similar to the U.S., with advertisements in a range of publications, from glossy fashion magazines to lowbrow metro weeklies. "So much foolish negative attention has been paid to the ad campaign. We figured out an eon ago that it's effective," he said. "It's obvious that young metropolitan adults are more sexualized than their parents, and they appreciate ads that are sexy and artistically provocative. I believe Chinese young people will understand the message of the advertising and will connect with it."
However, it's possible that the brand will opt for a soft launch in China with little advertising, he added.
Global retail expansion has accelerated since the company was acquired last year for a reported $382.5 million by Endeavor Acquisition Corp., a publicly traded investment firm created in 2005 by Eric Watson and U.S. Office Products founder Jonathan J. Ledecky. American Apparel has grown to 160 doors in 15 countries, and currently opens between two and six stores per month. "We've said before that we think we can open 800 [doors]," Charney said. The company may detail future expansion plans in its fourth-quarter earnings conference call today, he added.
Double-digit sales growth for the brand has recently rebounded, with a 23 percent rise in same-store sales during the first three quarters of 2007. Comps had slowed to a 5 percent gain in 2006, compared with a 45 percent increase in 2005.
The company's fair-wage policy뾦t pays its factory workers $12 per hour, more than twice the current federal minimum wage뾵ill extend to Chinese retail employees as well. "[Wages] will not be the same as the L.A. workers, but we will make sure that every worker in China receives at least a U.S. federal minimum wage per hour worked," Charney said.
In a nod to Olympic spirit, retro obsession and hometown pride, Charney said American Apparel's planned Chinese doors will feature apparel and in-store photo essays themed to the 1984 Summer Olympics in Los Angeles. "We love making garments that people want to wear. And we look forward to bringing that to China."
Indian apparel brands eye Chinese mart
[ 2008-08-11 ]
Indian apparel brands eye Chinese mart
After sourcing from China, the Indian apparel brands are set to design a retail road map in the dragon nation.
The brands like Koutons, Lilliput and Spykar are exploring joint venture and inorganic growth opportunities to tap the Chinese market.
The kidswear brand Lilliput is entering China through a newly formed joint venture firm Lilliput Kidswear China.
Sanjeev Narula, Managing Director, Lilliput said, " The company has identified West Asia and China as focused markets for international expansion. We already source 20 per cent of the merchandise from China and now plan to open 6 stores through the joint venture."
The move is a part of the industry initiative to not only look at China as a sourcing hub but also a potential apparel market.
Rahul Mehta, President, Clothing Manufacturers Association of India (CMAI) said," Indian firms have never thought of China as an export market but we have realised that there is a good scope for Indian brands to compete in the Chinese market. CMAI intends to take a delegation of at least 10-12 brands to China in order to explore the market."
The Indian companies are spotting opportunity in China's vast manufacturing capability and the equally strong purchasing power. For instance, Koutons has hinted at acquiring manufacturing units to gain production scale for its Chinese operations.
D P S Kohli, Chairman, Koutons said, "Unlike the common perception of China manufacturing cheap goods, there are some good volume producers as well.
Apart from setting up a sourcing office, the company is also looking for a manufacturing base for cost efficiency and drive synergy between India and China."
Lilliput will position the brand at a higher retail price than in India. The brand's average retail price in India is $13 (about Rs 520) but it will price Lilliput at $22 (Rs 880) in China.
February 28, 2008
Rediff News
Indian apparel brands eye Chinese mart
After sourcing from China, the Indian apparel brands are set to design a retail road map in the dragon nation.
The brands like Koutons, Lilliput and Spykar are exploring joint venture and inorganic growth opportunities to tap the Chinese market.
The kidswear brand Lilliput is entering China through a newly formed joint venture firm Lilliput Kidswear China.
Sanjeev Narula, Managing Director, Lilliput said, " The company has identified West Asia and China as focused markets for international expansion. We already source 20 per cent of the merchandise from China and now plan to open 6 stores through the joint venture."
The move is a part of the industry initiative to not only look at China as a sourcing hub but also a potential apparel market.
Rahul Mehta, President, Clothing Manufacturers Association of India (CMAI) said," Indian firms have never thought of China as an export market but we have realised that there is a good scope for Indian brands to compete in the Chinese market. CMAI intends to take a delegation of at least 10-12 brands to China in order to explore the market."
The Indian companies are spotting opportunity in China's vast manufacturing capability and the equally strong purchasing power. For instance, Koutons has hinted at acquiring manufacturing units to gain production scale for its Chinese operations.
D P S Kohli, Chairman, Koutons said, "Unlike the common perception of China manufacturing cheap goods, there are some good volume producers as well.
Apart from setting up a sourcing office, the company is also looking for a manufacturing base for cost efficiency and drive synergy between India and China."
Lilliput will position the brand at a higher retail price than in India. The brand's average retail price in India is $13 (about Rs 520) but it will price Lilliput at $22 (Rs 880) in China.
February 28, 2008
Rediff News
China's fashion dragon stirs
The fashion world needs the following to keep pace with the changing world: economic power, leisure time and adaptability to globalization.
The speed of development in China has taken the world's breath away, but only two cities there meet these requirements so far: Beijing and Shanghai. Beijing is the capital, famous for its impressive history; Shanghai is known as an international city and the center of the Chinese economy.
The pace and scale of Beijing's transformation defies belief, especially in the fashion world. "Even though this is my home, I have to ask myself if this is really Beijing. I've been working on fashion shows abroad for many months and when I return to Beijing so much has changed," says Chinese supermodel Du Juan.
Rising demand usually means customers look for better quality. The Chinese fashion association, which has been around since 1993, set up a visual merchandising committee three years ago to help re-educate fashion professionals.
"The committee works with the fashion designers to improve the presentation of each product and to improve the image of the brand," says Su Bao Yan, vice chief of the association, adding that consumers in China have developed a much sharper eye for detail.
Although Hong Kong is an international city with a more globalized taste, the fashion trend in Shanghai is just as daring as that of Hong Kong, according to experts like Wang Xin Yuan, vice chairman of the Shanghai international fashion committee.
"Historically, Beijing has been represented as the capital of the nation's culture. On the other hand, Shanghai has been the center of finance, economy, trade and commerce ever since the modernization of China," he said.
Although Beijing and Shanghai are both immersing themselves in international fashion trends, there is no distinct sense of Chinese fashion yet. No Chinese designer has yet captured the true spirit of China, says Wang.
"Ninety percent of the fashion [in China] is Westernized, but the designers do not know how to capture the Chinese tradition," Wang says.
Luxury fashion brands are choosing to showcase immense events in China, though, Wang points out. The Italian brand Salvatore Ferragamo held its 80th anniversary celebrations in March this year in Shanghai instead of Florence, the brand's birthplace in Italy.
Meanwhile Italian fashion house Fendi put on a gigantic runway show at the Great Wall in Beijing that featured 88 models. "Beijing and Shanghai are busy booking fashion events. Today, tomorrow, and the day after tomorrow is booked with brands such as Louis Vuitton and parties and events from magazines such as the highly praised fashion magazine, Vogue," Wang explains. But the fashion industry has a long way to go before it can compete with overseas' brands, says Liu Jing Duan, manager of 40 department stores in China.
"It is difficult to name the best Chinese designer. Rich Chinese only buy luxury brands from abroad. Domestic products are still in the process of learning from outside brands," Liu says.
However, Chinese brands Shanghai Tang and Vivienne Tam do have a global audience. A Hong Kong native, designer David Tang founded his company in 1994 and now works in collaboration with Swiss designer brand group Richemont.
Western critics praise Vivienne Tam for her balance between Eastern and Western art. Tam's fashion designer Tan Yan Yu was born in China and raised in Hong Kong. He graduated from Hong Kong Polytechnic University and is currently working as a fashion designer in New York City. The dragon pattern often pops into mind when you think of Chinese art and design, and it is also the main pattern symbolizing Vivienne Tam, attracting the attention of numerous collections and department stores in England, Italy, Germany and countries in Asia.
The speed of development in China has taken the world's breath away, but only two cities there meet these requirements so far: Beijing and Shanghai. Beijing is the capital, famous for its impressive history; Shanghai is known as an international city and the center of the Chinese economy.
The pace and scale of Beijing's transformation defies belief, especially in the fashion world. "Even though this is my home, I have to ask myself if this is really Beijing. I've been working on fashion shows abroad for many months and when I return to Beijing so much has changed," says Chinese supermodel Du Juan.
Rising demand usually means customers look for better quality. The Chinese fashion association, which has been around since 1993, set up a visual merchandising committee three years ago to help re-educate fashion professionals.
"The committee works with the fashion designers to improve the presentation of each product and to improve the image of the brand," says Su Bao Yan, vice chief of the association, adding that consumers in China have developed a much sharper eye for detail.
Although Hong Kong is an international city with a more globalized taste, the fashion trend in Shanghai is just as daring as that of Hong Kong, according to experts like Wang Xin Yuan, vice chairman of the Shanghai international fashion committee.
"Historically, Beijing has been represented as the capital of the nation's culture. On the other hand, Shanghai has been the center of finance, economy, trade and commerce ever since the modernization of China," he said.
Although Beijing and Shanghai are both immersing themselves in international fashion trends, there is no distinct sense of Chinese fashion yet. No Chinese designer has yet captured the true spirit of China, says Wang.
"Ninety percent of the fashion [in China] is Westernized, but the designers do not know how to capture the Chinese tradition," Wang says.
Luxury fashion brands are choosing to showcase immense events in China, though, Wang points out. The Italian brand Salvatore Ferragamo held its 80th anniversary celebrations in March this year in Shanghai instead of Florence, the brand's birthplace in Italy.
Meanwhile Italian fashion house Fendi put on a gigantic runway show at the Great Wall in Beijing that featured 88 models. "Beijing and Shanghai are busy booking fashion events. Today, tomorrow, and the day after tomorrow is booked with brands such as Louis Vuitton and parties and events from magazines such as the highly praised fashion magazine, Vogue," Wang explains. But the fashion industry has a long way to go before it can compete with overseas' brands, says Liu Jing Duan, manager of 40 department stores in China.
"It is difficult to name the best Chinese designer. Rich Chinese only buy luxury brands from abroad. Domestic products are still in the process of learning from outside brands," Liu says.
However, Chinese brands Shanghai Tang and Vivienne Tam do have a global audience. A Hong Kong native, designer David Tang founded his company in 1994 and now works in collaboration with Swiss designer brand group Richemont.
Western critics praise Vivienne Tam for her balance between Eastern and Western art. Tam's fashion designer Tan Yan Yu was born in China and raised in Hong Kong. He graduated from Hong Kong Polytechnic University and is currently working as a fashion designer in New York City. The dragon pattern often pops into mind when you think of Chinese art and design, and it is also the main pattern symbolizing Vivienne Tam, attracting the attention of numerous collections and department stores in England, Italy, Germany and countries in Asia.
International retailers have designs on Mainland shopping centres
[ 2008-08-11 ]
The Global Emerging Markets Survey was released by property service company CB Richard Ellis at the World Retail Congress in Spain.
Some 80% of global retailers responding to the survey would reconsider whether or not to enter an emerging market like China and India if their preferred real estate format - whether shopping centre or stand-alone store - is not available.Around 56% of those retailers base their entry into an emerging market on the availability of suitable property.
Bryn Davies, executive director for retail services with CB Richard Ellis in Greater China, pointed out that the quality of real estate is the most important issue for a retailer to consider when preparing to enter an emerging market.For example, said Davies, Japan's Isetan chose to open its new store in Beijing's Xidan district while South Korea's Lotte chose Wangfujing.
Prime commercial locations are always the first choice for international retailers.In fact, good retail properties are rare commodities, with rentals surging in Beijing and Shanghai.The report reveals that more than 30 international retailers surveyed opened their first store on the Chinese mainland over the past year or are planning to do so imminently.
The Mainland ranks eighth on the list of most active emerging markets with a new retailer entry rate of 11%.India ranks top, with 27% of the canvassed international retailers opening their first store in that country over the past year or are planning to do so imminently.
According to CB Richard Ellis, the rate of international penetration is slowing down on the Mainland because it already has a much higher penetration of international retailers than countries like India and Thailand.
A report entitled How Global is the Business of Retail? by CB Richard Ellis, shows that the Mainland has 40% of the world's international retailers and is the only country in the Asia Pacific making the top 10 list, surpassing the US and Japan.
Ukraine and Russia, with penetration rates at 24% and 22% respectively, are the second and third most sought after destinations.According to the Global Emerging Markets Survey, retailers will take neighbouring countries as natural extensions after entering "primary" emerging destinations like Russia. This is an emerging development trend in international retailing.South Korea and Brazil, with an international penetration of only 6%, fail to make the top 10.
"Rising interest and growing expansion into emerging markets globally are being fuelled by rapid growth in consumer spending with an emerging middle class in many of these countries" said Davies.
The Global Emerging Markets Survey explores the views of some 300 retailers worldwide, representing a global portfolio of 25,000 stores. It reveals that 40% of retailers expect emerging markets like India, Russia and China to provide their main source of growth over the next five years.
The Global Emerging Markets Survey was released by property service company CB Richard Ellis at the World Retail Congress in Spain.
Some 80% of global retailers responding to the survey would reconsider whether or not to enter an emerging market like China and India if their preferred real estate format - whether shopping centre or stand-alone store - is not available.Around 56% of those retailers base their entry into an emerging market on the availability of suitable property.
Bryn Davies, executive director for retail services with CB Richard Ellis in Greater China, pointed out that the quality of real estate is the most important issue for a retailer to consider when preparing to enter an emerging market.For example, said Davies, Japan's Isetan chose to open its new store in Beijing's Xidan district while South Korea's Lotte chose Wangfujing.
Prime commercial locations are always the first choice for international retailers.In fact, good retail properties are rare commodities, with rentals surging in Beijing and Shanghai.The report reveals that more than 30 international retailers surveyed opened their first store on the Chinese mainland over the past year or are planning to do so imminently.
The Mainland ranks eighth on the list of most active emerging markets with a new retailer entry rate of 11%.India ranks top, with 27% of the canvassed international retailers opening their first store in that country over the past year or are planning to do so imminently.
According to CB Richard Ellis, the rate of international penetration is slowing down on the Mainland because it already has a much higher penetration of international retailers than countries like India and Thailand.
A report entitled How Global is the Business of Retail? by CB Richard Ellis, shows that the Mainland has 40% of the world's international retailers and is the only country in the Asia Pacific making the top 10 list, surpassing the US and Japan.
Ukraine and Russia, with penetration rates at 24% and 22% respectively, are the second and third most sought after destinations.According to the Global Emerging Markets Survey, retailers will take neighbouring countries as natural extensions after entering "primary" emerging destinations like Russia. This is an emerging development trend in international retailing.South Korea and Brazil, with an international penetration of only 6%, fail to make the top 10.
"Rising interest and growing expansion into emerging markets globally are being fuelled by rapid growth in consumer spending with an emerging middle class in many of these countries" said Davies.
The Global Emerging Markets Survey explores the views of some 300 retailers worldwide, representing a global portfolio of 25,000 stores. It reveals that 40% of retailers expect emerging markets like India, Russia and China to provide their main source of growth over the next five years.
Fashion has designs on China's rich
[ 2008-08-08 ]
EURIPEAN and American fashion designers feeling the pinch from the credit crisis can look to the growing ranks of China's nouveau riche to boost sales.
On China's mainland, the millionaires' club is expanding rapidly. And many are women who don't even blink when asked US$10,000 for a cocktail dress from a top international designer.
"The Chinese are the newcomers to the global market," said Sebastian Suhl, Asia-Pacific chief executive of Italian fashion house Prada, which has nine stores on the mainland.
"They're very hungry to learn about fashion. Fashion represents obviously status, but luxury is also a kind of bridge to the modern world for them."
As the Chinese economy surged more than 10 percent annually over the past five years, the country boasted 345,000 US dollar millionaires by the end of 2006, a third of whom were women, according to a report by Merrill Lynch and consultancy Capgemini.
Some 5,000 mainlanders had assets exceeding US$30 million, accounting for a third of Asia-Pacific's super-rich.
Even affluent Chinese women, without millions in the bank, are willing to spend their savings on designer fashions, seen as the ultimate status symbol in a country that is increasingly becoming preoccupied with the trappings of wealth.
Elegantly dressed Chinese manager Zhang Ning, 30, has never been to France but she likes to wear Hermes. "I like its simplicity, it makes me feel elegant," said Zhang, who works as a manager at an electric power company in the south China's Guangzhou City.
"France for me is elegance: good fashion and wines."
Western couture houses such as Hermes are now tapping into the discreet tastes of the super-rich.
"The Chinese mainland market is still very accessories-oriented but we believe that will change," said Alex Bolen, chief executive of New York-based couture house Oscar de la Renta, whose sleek cocktail dresses retail for up to US$10,000, while its evening gowns approach double that.
"There's definitely a market for the cocktail dress. But what has surprised us, pleasantly, is how rapidly the customer has also adopted our day wear."
Leading the charge is upmarket Hong Kong department store Lane Crawford, which is bringing cutting-edge Western designers to the mainland.
The opening of Lane Crawford's first store in Beijing last October has expanded the mainland presence of British designers such as Alexander McQueen and Stella McCartney, and heralded the arrival of more niche designers, including Dries Van Noten, Hussein Chalayan and Rick Owens.
Meanwhile, Chinese fashion editors, headed by Vogue China, have become an influential presence on the European fashion scene.
People's purchasing power and the growing sophistication of wealthy clientele is creating a very diverse market for fashion, says Angelica Cheung, editor of Vogue China. The magazine was launched in 2005 and has 320,000 readers.
"A young woman who might now be on a monthly salary of 5,000 yuan (US$716) could next year be running her own business. So it's a very aspirational market. Her first luxury product might be a Louis Vuitton bag but within a few years she might move on to something more niche such as Marni," said Cheung.
Chanel is the most preferred high-end fashion brand for affluent Chinese followed by Giorgio Armani, according to a MasterCard report.
Oscar de la Renta says China is central to a strategy for Asia which it hopes will account for 20 percent of its sales within five years.
Luxury fashion brands are all competing for space in a handful of luxury malls such as Plaza 66 in Shanghai and Lane Crawford in Beijing, where rents are sky high.
Retail analysts say that having a flagship store rather than being among dozens of brands in a department store is the best way to achieve brand recognition and exclusivity.
However, it is difficult and expensive to find good sites for boutiques on the mainland due to exorbitant rentals in high-end areas.
Reaching out beyond Beijing and Shanghai is the next step. The southern boom Shenzhen replaced Chengdu in 2007 as the city with the highest average spending on luxury goods, according to Credit Suisse.
(Shanghai Daily July 27, 2008)
EURIPEAN and American fashion designers feeling the pinch from the credit crisis can look to the growing ranks of China's nouveau riche to boost sales.
On China's mainland, the millionaires' club is expanding rapidly. And many are women who don't even blink when asked US$10,000 for a cocktail dress from a top international designer.
"The Chinese are the newcomers to the global market," said Sebastian Suhl, Asia-Pacific chief executive of Italian fashion house Prada, which has nine stores on the mainland.
"They're very hungry to learn about fashion. Fashion represents obviously status, but luxury is also a kind of bridge to the modern world for them."
As the Chinese economy surged more than 10 percent annually over the past five years, the country boasted 345,000 US dollar millionaires by the end of 2006, a third of whom were women, according to a report by Merrill Lynch and consultancy Capgemini.
Some 5,000 mainlanders had assets exceeding US$30 million, accounting for a third of Asia-Pacific's super-rich.
Even affluent Chinese women, without millions in the bank, are willing to spend their savings on designer fashions, seen as the ultimate status symbol in a country that is increasingly becoming preoccupied with the trappings of wealth.
Elegantly dressed Chinese manager Zhang Ning, 30, has never been to France but she likes to wear Hermes. "I like its simplicity, it makes me feel elegant," said Zhang, who works as a manager at an electric power company in the south China's Guangzhou City.
"France for me is elegance: good fashion and wines."
Western couture houses such as Hermes are now tapping into the discreet tastes of the super-rich.
"The Chinese mainland market is still very accessories-oriented but we believe that will change," said Alex Bolen, chief executive of New York-based couture house Oscar de la Renta, whose sleek cocktail dresses retail for up to US$10,000, while its evening gowns approach double that.
"There's definitely a market for the cocktail dress. But what has surprised us, pleasantly, is how rapidly the customer has also adopted our day wear."
Leading the charge is upmarket Hong Kong department store Lane Crawford, which is bringing cutting-edge Western designers to the mainland.
The opening of Lane Crawford's first store in Beijing last October has expanded the mainland presence of British designers such as Alexander McQueen and Stella McCartney, and heralded the arrival of more niche designers, including Dries Van Noten, Hussein Chalayan and Rick Owens.
Meanwhile, Chinese fashion editors, headed by Vogue China, have become an influential presence on the European fashion scene.
People's purchasing power and the growing sophistication of wealthy clientele is creating a very diverse market for fashion, says Angelica Cheung, editor of Vogue China. The magazine was launched in 2005 and has 320,000 readers.
"A young woman who might now be on a monthly salary of 5,000 yuan (US$716) could next year be running her own business. So it's a very aspirational market. Her first luxury product might be a Louis Vuitton bag but within a few years she might move on to something more niche such as Marni," said Cheung.
Chanel is the most preferred high-end fashion brand for affluent Chinese followed by Giorgio Armani, according to a MasterCard report.
Oscar de la Renta says China is central to a strategy for Asia which it hopes will account for 20 percent of its sales within five years.
Luxury fashion brands are all competing for space in a handful of luxury malls such as Plaza 66 in Shanghai and Lane Crawford in Beijing, where rents are sky high.
Retail analysts say that having a flagship store rather than being among dozens of brands in a department store is the best way to achieve brand recognition and exclusivity.
However, it is difficult and expensive to find good sites for boutiques on the mainland due to exorbitant rentals in high-end areas.
Reaching out beyond Beijing and Shanghai is the next step. The southern boom Shenzhen replaced Chengdu in 2007 as the city with the highest average spending on luxury goods, according to Credit Suisse.
(Shanghai Daily July 27, 2008)
Lancel Forms Strategic Partnership In China With Fairton
[ 2008-08-07 ]
After a seven-month discussion, Lancel has finally signed a cooperative agreement with Fairton to jointly explore the mainland China market.
According to the agreement, Shanghai and the surrounding cities will become the starting points for Lancel to implement its development program in mainland China. The development program includes opening new boutique stores, raising the images of its existing stores, and relocating some of its existing stores.
Marc Lelandais, CEO of Lancel, stated that China has been one of the most important overseas markets for Lancel and it is a crucial step to find a suitable partner and to realize the company's future development perspective in China. Lancel believed that with its deep understanding of Chinese market and its operating experience in this marketplace, Fairton will offer a solid platform to push the Lancel brand to a new height.
Xiao Dichong, executive director of Fairton, commented that Lancel is a leather brand with a 130 years' history. In the current Chinese market, luxury consumers are looking for something different and that is just what Lancel has. The company is very confident in its cooperation with Lancel.
Founded in 1876, Lancel is a family business started by Alphonse Lancel and his wife Angele in the very heart of Paris. In September 1997, Lancel joined the Richemont Group to develop its international network. The leather brand is now has a worldwide presence and has over 500 sales points in various countries, including China, Japan, Russia, and the United States.
Founded in 1955 in Hong Kong, Fairton is an international fashion brands management company. It now acts for 14 brands, including MaxMara, Marella, Marina Rinaldi, MAX&Co, PennyBlack, Sportmax, Weekend by MaxMara, iBLUES, Jean Paul Gaultier, Kookai, Lloyd, PlusIT, Rossetti, and Lancel in Hong Kong, Taiwan, and the mainland China.
After a seven-month discussion, Lancel has finally signed a cooperative agreement with Fairton to jointly explore the mainland China market.
According to the agreement, Shanghai and the surrounding cities will become the starting points for Lancel to implement its development program in mainland China. The development program includes opening new boutique stores, raising the images of its existing stores, and relocating some of its existing stores.
Marc Lelandais, CEO of Lancel, stated that China has been one of the most important overseas markets for Lancel and it is a crucial step to find a suitable partner and to realize the company's future development perspective in China. Lancel believed that with its deep understanding of Chinese market and its operating experience in this marketplace, Fairton will offer a solid platform to push the Lancel brand to a new height.
Xiao Dichong, executive director of Fairton, commented that Lancel is a leather brand with a 130 years' history. In the current Chinese market, luxury consumers are looking for something different and that is just what Lancel has. The company is very confident in its cooperation with Lancel.
Founded in 1876, Lancel is a family business started by Alphonse Lancel and his wife Angele in the very heart of Paris. In September 1997, Lancel joined the Richemont Group to develop its international network. The leather brand is now has a worldwide presence and has over 500 sales points in various countries, including China, Japan, Russia, and the United States.
Founded in 1955 in Hong Kong, Fairton is an international fashion brands management company. It now acts for 14 brands, including MaxMara, Marella, Marina Rinaldi, MAX&Co, PennyBlack, Sportmax, Weekend by MaxMara, iBLUES, Jean Paul Gaultier, Kookai, Lloyd, PlusIT, Rossetti, and Lancel in Hong Kong, Taiwan, and the mainland China.
Think Pink Opens Flagship Store In China
[ 2008-08-08 ]
Think Pink, an Italian apparel brand, has opened a flagship store in China Central Place Luxury Walk, Beijing.
Giancarlo Zanatta, president of Think Pink, said that August 2008 is an important milestone for both Beijing and Think Pink. This summer, people will see the opening of the Olympic Games and the opening of Think Pink's first store in mainland China. He added that on the opening of this store, Think Pink is pleased to show the free living attitude of Italians to the Chinese people.
According to the company, Think Pink now has more than 400 sales sites in countries and regions, including Italy, France, Germany, the UK, Japan, Taiwan, and Hong Kong.
Think Pink, an Italian apparel brand, has opened a flagship store in China Central Place Luxury Walk, Beijing.
Giancarlo Zanatta, president of Think Pink, said that August 2008 is an important milestone for both Beijing and Think Pink. This summer, people will see the opening of the Olympic Games and the opening of Think Pink's first store in mainland China. He added that on the opening of this store, Think Pink is pleased to show the free living attitude of Italians to the Chinese people.
According to the company, Think Pink now has more than 400 sales sites in countries and regions, including Italy, France, Germany, the UK, Japan, Taiwan, and Hong Kong.
Gucci Opens New Watch Store In Shanghai
[ 2008-08-08 ]
The international luxury brand Gucci has opened a watch boutique on the first floor of Shanghai Nine Sea Parkson Plaza.
Huang Yi, a Chinese movie star, and two Chinese top models Shi Liang and Ji Huanbo attended the opening reception of the new store. They displayed many of Gucci's watch products, including Chiodo, Pantheon, Twirl, and I-Gucci.
With a shopping area of over 40 square meters, Gucci says that the store follows the design concepts of fashion and grace and customers can appreciate and select from a complete series of Swiss made Gucci watches.
The international luxury brand Gucci has opened a watch boutique on the first floor of Shanghai Nine Sea Parkson Plaza.
Huang Yi, a Chinese movie star, and two Chinese top models Shi Liang and Ji Huanbo attended the opening reception of the new store. They displayed many of Gucci's watch products, including Chiodo, Pantheon, Twirl, and I-Gucci.
With a shopping area of over 40 square meters, Gucci says that the store follows the design concepts of fashion and grace and customers can appreciate and select from a complete series of Swiss made Gucci watches.
Lining Gains Exclusive Rights To Lotto Brand In China
[ 2008-08-07 ]
Lining has announced that the company has signed an agreement with the Italian sports brand Lotto Sport and gained a 20-year exclusive concession in China for no less than HKD1 billion.
As a famous sports brand in Italy, Lotto has top designers and management resources in the soccer and tennis sectors. The cooperation with Lotto marks an important step for Lining's multi-brand management strategy.
According to the concession agreement, Lining has the exclusive rights in development, manufacturing, marketing, promotion, distribution and sale, along with the right to use the trademark of Lotto in China. The the agreement is valid from July 31, 2008 to December 31, 2028. From January 1, 2009, Lining will pay license fee to Lotto at a certain percentage of the actual sales of the licensed products. There is a minimum annual license fee and the total license fee over the 20 years will be at least CNY934 million.
Apart from the concession, Lining will also acquire the assets, stock and real estate of Lotto Sport's two branches in China, Lotto (Nanjing) and Lotto (Shanghai). Lotto (Nanjing) mainly focuses on product design, development, purchase, distribution and marketing in China, while Lotto (Shanghai) is responsible for the retail sector in China.
Lining has announced that the company has signed an agreement with the Italian sports brand Lotto Sport and gained a 20-year exclusive concession in China for no less than HKD1 billion.
As a famous sports brand in Italy, Lotto has top designers and management resources in the soccer and tennis sectors. The cooperation with Lotto marks an important step for Lining's multi-brand management strategy.
According to the concession agreement, Lining has the exclusive rights in development, manufacturing, marketing, promotion, distribution and sale, along with the right to use the trademark of Lotto in China. The the agreement is valid from July 31, 2008 to December 31, 2028. From January 1, 2009, Lining will pay license fee to Lotto at a certain percentage of the actual sales of the licensed products. There is a minimum annual license fee and the total license fee over the 20 years will be at least CNY934 million.
Apart from the concession, Lining will also acquire the assets, stock and real estate of Lotto Sport's two branches in China, Lotto (Nanjing) and Lotto (Shanghai). Lotto (Nanjing) mainly focuses on product design, development, purchase, distribution and marketing in China, while Lotto (Shanghai) is responsible for the retail sector in China.
Thai Central Group Of Companies Seeks Development In China
[ 2008-08-06 ]
Central Group of Companies, one of the biggest department store retailers in Thailand, has announced plans to enter into China and says its first department store will be opened in Hangzhou in September 2009.
The company said that the construction of its Hangzhou department store had started and it is expected to be completed in September 2009. The store will be located in Hangzhou MIXC, in the central business district of Qianjiang new city and Central Group will lease 25,000 square meters out of the total area of 99,500 square meters of Hangzhou MIXC. In addition, Central Group has set a goal for its development in China in the next ten years, which is to open about 30 to 40 department stores and shopping malls.
Central Group of Companies is a family owned company. Founded in 1947, it has a 60-year history in the retail industry. By 2006, the market value of Central Group of Companies was about USD2 billion and its businesses cover department store retail, real estate, hotels, and food.
According to the Royal Thai Consulate-General in Shanghai, more and more Thailand companies are coming to China to seek development opportunities. By the end of 2007, the Sino-Thai trade volume had reached USD31.06 billion, making China the second biggest trade partner of Thailand.
Central Group of Companies, one of the biggest department store retailers in Thailand, has announced plans to enter into China and says its first department store will be opened in Hangzhou in September 2009.
The company said that the construction of its Hangzhou department store had started and it is expected to be completed in September 2009. The store will be located in Hangzhou MIXC, in the central business district of Qianjiang new city and Central Group will lease 25,000 square meters out of the total area of 99,500 square meters of Hangzhou MIXC. In addition, Central Group has set a goal for its development in China in the next ten years, which is to open about 30 to 40 department stores and shopping malls.
Central Group of Companies is a family owned company. Founded in 1947, it has a 60-year history in the retail industry. By 2006, the market value of Central Group of Companies was about USD2 billion and its businesses cover department store retail, real estate, hotels, and food.
According to the Royal Thai Consulate-General in Shanghai, more and more Thailand companies are coming to China to seek development opportunities. By the end of 2007, the Sino-Thai trade volume had reached USD31.06 billion, making China the second biggest trade partner of Thailand.
Shanghai a top city for business
[ 2008-07-31 ]
HONG Kong ranks highest as the best city in which to locate a business in the Asia Pacific region followed by Shanghai and Singapore in a tie for second spot, world leading real estate services provider Cushman and Wakefield said on 30 July, 2008.
Cushman and Wakefield yesterday released a report, Asia Pacific Cities Monitor 2008, which covers 16 cities across 13 countries and territories.
It examined the factors that determine the choice of one location over another when multinational corporations (MNCs) expand their presence in the region and includes comparisons of how the region's leading cities perform in key categories, ranging from those offering the best value in office space, to the best city in which to locate a new headquarters.
Access to markets and availability of a qualified talent pool were the two overwhelming factors influencing business decisions of MNCs in the region, according to the report.
Hong Kong, the traditional gateway to the Chinese mainland, remains the leading preferred destination to locate a business and is increasingly pursued by Shanghai, now clearly the major entry location on the mainland, followed by Singapore. These three cities are significantly ahead of their nearest rivals.
Beijing currently falls behind Shanghai despite being the capital city. After Singapore, Kuala Lumpur is the preferred destination in Southeast Asia and Mumbai the preferred Indian destination.
Singapore leads the pack as the preferred headquarters destination. Factors such as its central location and connectivity to other parts of Asia Pacific, quality of talent and infrastructure, transparency and ease of doing business and quality of life for employees, renders it that status.
However, though China has the greatest source of potential customers and clients, it doesn't have enough skilled staff and transparency in business still needs improvement, the report has found.
HONG Kong ranks highest as the best city in which to locate a business in the Asia Pacific region followed by Shanghai and Singapore in a tie for second spot, world leading real estate services provider Cushman and Wakefield said on 30 July, 2008.
Cushman and Wakefield yesterday released a report, Asia Pacific Cities Monitor 2008, which covers 16 cities across 13 countries and territories.
It examined the factors that determine the choice of one location over another when multinational corporations (MNCs) expand their presence in the region and includes comparisons of how the region's leading cities perform in key categories, ranging from those offering the best value in office space, to the best city in which to locate a new headquarters.
Access to markets and availability of a qualified talent pool were the two overwhelming factors influencing business decisions of MNCs in the region, according to the report.
Hong Kong, the traditional gateway to the Chinese mainland, remains the leading preferred destination to locate a business and is increasingly pursued by Shanghai, now clearly the major entry location on the mainland, followed by Singapore. These three cities are significantly ahead of their nearest rivals.
Beijing currently falls behind Shanghai despite being the capital city. After Singapore, Kuala Lumpur is the preferred destination in Southeast Asia and Mumbai the preferred Indian destination.
Singapore leads the pack as the preferred headquarters destination. Factors such as its central location and connectivity to other parts of Asia Pacific, quality of talent and infrastructure, transparency and ease of doing business and quality of life for employees, renders it that status.
However, though China has the greatest source of potential customers and clients, it doesn't have enough skilled staff and transparency in business still needs improvement, the report has found.
Intime Lotte Opens Store In Beijing
[ 2008-07-31 ]
Intime Lotte, a department store co-founded by the South Korean Lotte Shopping company and China Intime, will be formally opened on Wangfujing Street, Beijing on August 1.
Located on the north end of Wangfujing Shopping Street, the Intime Lotte covers a total area of 83,600 square meters, of which 42,900 square meters are for business use. The opening of this department store marks the South Korean department store's entry into the Chinese market and is a further sign of cooperation between Chinese department stores and international retail giants.
According to a representative from Intime Lotte, the department store is a joint venture of Lotte department store and Intime department store. Each party owns a 50% stake of Intime Lotte. The department store targets high-end consumers who have an international fashion taste. With the opening of the store, many Chinese and international fashion and cosmetics brands, including Gucci, Armani, Cartier, and Bvlgari, will be available to customers and it will be a new channel for products from South Korea and Japan to enter the Chinese market.
In addition Intime Lotte is said to combine the considerate and thoughtful Korean style of service with Chinese service and introduces facilities such as providing customers with a free shuttle service, packing service, and one-on-one private shopping assistant service. There are also membership services such as a creche and regular cultural activities and exhibitions.
Intime Lotte, a department store co-founded by the South Korean Lotte Shopping company and China Intime, will be formally opened on Wangfujing Street, Beijing on August 1.
Located on the north end of Wangfujing Shopping Street, the Intime Lotte covers a total area of 83,600 square meters, of which 42,900 square meters are for business use. The opening of this department store marks the South Korean department store's entry into the Chinese market and is a further sign of cooperation between Chinese department stores and international retail giants.
According to a representative from Intime Lotte, the department store is a joint venture of Lotte department store and Intime department store. Each party owns a 50% stake of Intime Lotte. The department store targets high-end consumers who have an international fashion taste. With the opening of the store, many Chinese and international fashion and cosmetics brands, including Gucci, Armani, Cartier, and Bvlgari, will be available to customers and it will be a new channel for products from South Korea and Japan to enter the Chinese market.
In addition Intime Lotte is said to combine the considerate and thoughtful Korean style of service with Chinese service and introduces facilities such as providing customers with a free shuttle service, packing service, and one-on-one private shopping assistant service. There are also membership services such as a creche and regular cultural activities and exhibitions.
Far Eastern Group To Open 25 Department Stores In China Over 5 Years
[ 2008-07-24 ]
Far Eastern Group, a Taiwan department store retail giant, has announced plans to increase the number of its department stores in mainland China to 25 over five years.
Xu Xudong, president of Far Eastern Group, said that if the group can successfully expand the number of its stores to 25 in mainland China, its sales are expected to be over CNY10 billion.
It is reported that the group's next department store will be opened in Beijing. It is the second Pacific Ocean Department Store in the city and the 30,000 square meter department store is expected to be opened in the first half of 2009.
Since the entry of Far Eastern Group into the mainland China market in 1993, it has opened 12 department stores in cities such as Beijing, Shanghai, Dalian, Tianjin, and Chengdu. Among the 12 department stores, ten are under the brand name of Pacific Ocean Department Store and two are Far Eastern Department Store.
Far Eastern Group, a Taiwan department store retail giant, has announced plans to increase the number of its department stores in mainland China to 25 over five years.
Xu Xudong, president of Far Eastern Group, said that if the group can successfully expand the number of its stores to 25 in mainland China, its sales are expected to be over CNY10 billion.
It is reported that the group's next department store will be opened in Beijing. It is the second Pacific Ocean Department Store in the city and the 30,000 square meter department store is expected to be opened in the first half of 2009.
Since the entry of Far Eastern Group into the mainland China market in 1993, it has opened 12 department stores in cities such as Beijing, Shanghai, Dalian, Tianjin, and Chengdu. Among the 12 department stores, ten are under the brand name of Pacific Ocean Department Store and two are Far Eastern Department Store.
ROSM To Build First Outlet In China
[ 2007-07-14 ]
ROSM, the French retail giant, plans to invest CNY13.8 billion to build its first outlet project in Greater China in Sanshui District, Foshan.
The project will cover a construction area of about 1.79 million square meters. Construction will start in the second half of 2008. Its first stage construction will be completed in 2010 and it will be completed fully in 2012. By then, about 500 world famous brands, including apparel, leather products, and perfume, will be sold in this outlet and nearly every brand will have an independent department store.
The Paris-headquartered ROSM has build thousands of outlets in 150 cities around the world and the brands sold in its outlets include famous ones such as Polo, Dior, and Gucci. The prices for these products are only 10% to 30% of the prices in a common department store. The Foshan project is ROSM's first project in China.
ROSM, the French retail giant, plans to invest CNY13.8 billion to build its first outlet project in Greater China in Sanshui District, Foshan.
The project will cover a construction area of about 1.79 million square meters. Construction will start in the second half of 2008. Its first stage construction will be completed in 2010 and it will be completed fully in 2012. By then, about 500 world famous brands, including apparel, leather products, and perfume, will be sold in this outlet and nearly every brand will have an independent department store.
The Paris-headquartered ROSM has build thousands of outlets in 150 cities around the world and the brands sold in its outlets include famous ones such as Polo, Dior, and Gucci. The prices for these products are only 10% to 30% of the prices in a common department store. The Foshan project is ROSM's first project in China.
Chickeeduck Enters The Mainland China Market
[ 2008-07-25 ]
Chickeeduck, a children's wear brand from Hong Kong, has entered the China market in Beijing, Shanghai, and Guangzhou.
Founded in 1990, Chickeeduck's stated objective is to give customers superb value by producing top-notch quality children's wear at accessible prices. The company says it attaches great importance to the comfort and safety of their products; and that through top product quality, innovative marketing, and professional operation expertise, it has established itself as a market leader in Hong Kong.
So far, Chickeeduck has opened specialty stores in almost all of the major shopping centers in Hong Kong. At the same time, the company actively expands its overseas market and has more than 20 overseas stores in countries such as Indonesia, Australia, Saudi Arabia, and the United Arab Emirates.
Chickeeduck, a children's wear brand from Hong Kong, has entered the China market in Beijing, Shanghai, and Guangzhou.
Founded in 1990, Chickeeduck's stated objective is to give customers superb value by producing top-notch quality children's wear at accessible prices. The company says it attaches great importance to the comfort and safety of their products; and that through top product quality, innovative marketing, and professional operation expertise, it has established itself as a market leader in Hong Kong.
So far, Chickeeduck has opened specialty stores in almost all of the major shopping centers in Hong Kong. At the same time, the company actively expands its overseas market and has more than 20 overseas stores in countries such as Indonesia, Australia, Saudi Arabia, and the United Arab Emirates.
China's overall retail sales rise 21.4 percnet in first half of 2008
[ 2008-07-22 ]
China's total retail sales of consumer goods reached 5,104.3 billion yuan in the first half of this year, up 21.4 percent year on year, according to statistics released by the National Bureau of Statistics (NBS) on Thursday.
The growth rate represents an increase of 6.0 percentage points over the same period of last year, said Li Xiaochao, spokesman with NBS.
China's total retail sales of consumer goods reached 5,104.3 billion yuan in the first half of this year, up 21.4 percent year on year, according to statistics released by the National Bureau of Statistics (NBS) on Thursday.
The growth rate represents an increase of 6.0 percentage points over the same period of last year, said Li Xiaochao, spokesman with NBS.
Belle: Capital injection from French LVMH
Recently, Belle Group, the women's footwear retailer, won the favour of world's largest luxury goods group LVMH of France. LVMH Group will become a strategic investor with 10% shares of Belle. It is reported that LVMH will not appoint staff to join Belle's management team in a short period of time.
Ouyang Kun, CEO of Beijing representative office of World Luxury Goods Association, said: "The capital injection action shows great cooperation potential between the two sides. LVMH may have its expansion in domestic market through cooperation with Belle, and can make up for the weak sales in footwear industry at the same time. It is a common move for foreign company of luxury goods to broaden their business into footwear market. As a matter of fact, within two years, there will be more similar phenomena besides the action taken by LVMH. "
Ouyang Kun, CEO of Beijing representative office of World Luxury Goods Association, said: "The capital injection action shows great cooperation potential between the two sides. LVMH may have its expansion in domestic market through cooperation with Belle, and can make up for the weak sales in footwear industry at the same time. It is a common move for foreign company of luxury goods to broaden their business into footwear market. As a matter of fact, within two years, there will be more similar phenomena besides the action taken by LVMH. "
JOEONE: Together with Ogilvy & Mather to promote its brand image
[ 2008-07-21 ]
Recently, the well-known domestic men's wear brand JOEONE and the international brand marketing and communication giant Ogilvy & Mather Advertising established strategic partnership.
It is said that the cooperation witnessed the formal beginning of JOEONE' s brand expansion strategy, with Ogilvy & Mather playing the role of a brand and marketing steward for JOEONE.
After signing the cooperation agreement, Ogilvy & Mather will help JOEONE to communicate with its customers in higher levels and more diversified channels through making targeted brand marketing strategy and getting insights into consumption preferences and brand culture.
Ogilvy & Mather will plan the strategic restructuring and upgrading in products, distribution channels, logistics, services, communication and other enterprises operating aspects to promote the image system, product system and the driving force system into a more effective circle. At the same time, JOEONE also sets a clear goal of being a partner with Ogilvy & Mather to gradually evolve into a fashion industry leader instead of a garment operator, and finally become an international well-known brand.
Recently, the well-known domestic men's wear brand JOEONE and the international brand marketing and communication giant Ogilvy & Mather Advertising established strategic partnership.
It is said that the cooperation witnessed the formal beginning of JOEONE' s brand expansion strategy, with Ogilvy & Mather playing the role of a brand and marketing steward for JOEONE.
After signing the cooperation agreement, Ogilvy & Mather will help JOEONE to communicate with its customers in higher levels and more diversified channels through making targeted brand marketing strategy and getting insights into consumption preferences and brand culture.
Ogilvy & Mather will plan the strategic restructuring and upgrading in products, distribution channels, logistics, services, communication and other enterprises operating aspects to promote the image system, product system and the driving force system into a more effective circle. At the same time, JOEONE also sets a clear goal of being a partner with Ogilvy & Mather to gradually evolve into a fashion industry leader instead of a garment operator, and finally become an international well-known brand.
Joseph Abboud To Open 15 Stores In China
[ 2008-07-21 ]
Joseph Abboud, an apparel company from the USA, has announced plans to open its first store in China in autumn of 2008 and will open 15 stores across the country before the end of the year.
Marty Staff, president and CEO of Joseph Abboud, said that to prepare for the opening of their first China store, a batch of high-quality men's clothes will be shipped from New Bedford, the location of their factory, to Shanghai. In addition, the company will launch its 2009 spring series in China in January 2009.
Joseph Abboud's stores in China will be managed by Judger Group, its authorized cooperative partner. Products sold in these stores will include sports clothes, outdoor clothes, shoes, and bags.
Joseph Abboud and Judger Group's plan for 2008 is to open 15 specialty department stores and high-end retail stores in China, including the flagship stores in Shanghai and Beijing, before the end of the year. The first batch of five stores will be opened in autumn of 2008. In summer of 2009, they will open more stores in cities such as Hangzhou, Ningbo, and Wuxi. By 2012, the store number will be increased to 100, of which half will be department stores.
Founded in 1987, Joseph Abboud Co. is a sophisticated American Lifestyle brand with expanding number of product lines, including men's apparel and accessories, boy's apparel, and home furnishings. With various brand names, Joseph Abboud's products are available in superior department stores and specialty stores throughout the United States, Canada, Japan, and Taiwan.
About The Joseph Abboud Brand
The Joseph Abboud Brand (www.josephabboud.com/) embodies sophisticated American style for traditional menswear. The Joseph Abboud brand instills confidence through tailored collections and unique sportswear that are crafted from the world's finest fabrics and defined by superior fit, exceptional quality and remarkable luxurious style.
Since 2004, the Company has made a successful transition from men's suit designer to global lifestyle brand. Joseph Abboud can now outfit a man in style throughout his entire life, thanks to lines of clothing for men and boys and a growing collection of casual wear. In addition, the Company has an expanding universe of products ranging from luggage to footwear to eyewear to home furnishings. Abboud brand names include Joseph Abboud, JOE Joseph Abboud, Joseph Abboud BOYS, and Joseph Abboud Home.
The Company concentrates on only on the very best retailers and specialty stores and is constantly looking for ways to improve the customer experience and reinforce its relationship with the stores that carry its products. Joseph Abboud products aren't everywhere - the large majority of domestic sales occur in about 415 "doors" in the U.S. The Company carefully chooses where to sell Joseph Abboud fine menswear and other products and intensively markets the products in those select locations. As a result, our customers develop a strong affinity to the Joseph Abboud brand.
Overseas, Joseph Abboud is partnering with leading licensees as the Company develops new products, expands into new markets and generates profitable top-line growth.
Abboud Suits "Made in the U.S.A." Will Be among the Product
Offerings at New China Locations, Expanding the Reach of Global Joseph
Abboud Lifestyle Brand
Joseph Abboud, an apparel company from the USA, has announced plans to open its first store in China in autumn of 2008 and will open 15 stores across the country before the end of the year.
Marty Staff, president and CEO of Joseph Abboud, said that to prepare for the opening of their first China store, a batch of high-quality men's clothes will be shipped from New Bedford, the location of their factory, to Shanghai. In addition, the company will launch its 2009 spring series in China in January 2009.
Joseph Abboud's stores in China will be managed by Judger Group, its authorized cooperative partner. Products sold in these stores will include sports clothes, outdoor clothes, shoes, and bags.
Joseph Abboud and Judger Group's plan for 2008 is to open 15 specialty department stores and high-end retail stores in China, including the flagship stores in Shanghai and Beijing, before the end of the year. The first batch of five stores will be opened in autumn of 2008. In summer of 2009, they will open more stores in cities such as Hangzhou, Ningbo, and Wuxi. By 2012, the store number will be increased to 100, of which half will be department stores.
Founded in 1987, Joseph Abboud Co. is a sophisticated American Lifestyle brand with expanding number of product lines, including men's apparel and accessories, boy's apparel, and home furnishings. With various brand names, Joseph Abboud's products are available in superior department stores and specialty stores throughout the United States, Canada, Japan, and Taiwan.
About The Joseph Abboud Brand
The Joseph Abboud Brand (www.josephabboud.com/) embodies sophisticated American style for traditional menswear. The Joseph Abboud brand instills confidence through tailored collections and unique sportswear that are crafted from the world's finest fabrics and defined by superior fit, exceptional quality and remarkable luxurious style.
Since 2004, the Company has made a successful transition from men's suit designer to global lifestyle brand. Joseph Abboud can now outfit a man in style throughout his entire life, thanks to lines of clothing for men and boys and a growing collection of casual wear. In addition, the Company has an expanding universe of products ranging from luggage to footwear to eyewear to home furnishings. Abboud brand names include Joseph Abboud, JOE Joseph Abboud, Joseph Abboud BOYS, and Joseph Abboud Home.
The Company concentrates on only on the very best retailers and specialty stores and is constantly looking for ways to improve the customer experience and reinforce its relationship with the stores that carry its products. Joseph Abboud products aren't everywhere - the large majority of domestic sales occur in about 415 "doors" in the U.S. The Company carefully chooses where to sell Joseph Abboud fine menswear and other products and intensively markets the products in those select locations. As a result, our customers develop a strong affinity to the Joseph Abboud brand.
Overseas, Joseph Abboud is partnering with leading licensees as the Company develops new products, expands into new markets and generates profitable top-line growth.
Abboud Suits "Made in the U.S.A." Will Be among the Product
Offerings at New China Locations, Expanding the Reach of Global Joseph
Abboud Lifestyle Brand
Cotton Imports Slip in June; 2007/08 Target too High?
[ 2008-07-17 ]
Given record domestic mill demand for cotton continuing to outpace Chinese production, imports in 2007/08 are set to rise to the second-highest volume in history, even as June volume declines from its year-ago level.
Through the first eleven months of this marketing year, Chinese cotton imports stand at 10.6 million bales, up 12.8% from this period last year. The growth came during seven of the last eleven months and was driven primarily by increased shipments from the U.S., up 15.9% from last year. This higher cumulative growth in imports offsets lower June volume, down -16.4% from twelve months earlier. Even so, arrivals through the first eleven months already outpace full-year imports in every other year except 2005/06.
While robust, this cumulative volume of cotton imports may still fall short of the USDA forecast for 2007/08. At 10.6 million bales, cumulative imports through eleven months are 1.7 million bales short of the import forecast of 12.25 million, implying the difference must be filled in July. However, evidence suggests imports may have difficulty filling that gap this month. The highest monthly import volume this year only reached 1.48 million bales in December, and never in over two years have monthly shipments climbed as high as the 1.7 million needed in July. Should July volume not reach this level, the USDA’s full-year imports may need to be revised lower to match the volume reported by China Customs Statistics.
Given record domestic mill demand for cotton continuing to outpace Chinese production, imports in 2007/08 are set to rise to the second-highest volume in history, even as June volume declines from its year-ago level.
Through the first eleven months of this marketing year, Chinese cotton imports stand at 10.6 million bales, up 12.8% from this period last year. The growth came during seven of the last eleven months and was driven primarily by increased shipments from the U.S., up 15.9% from last year. This higher cumulative growth in imports offsets lower June volume, down -16.4% from twelve months earlier. Even so, arrivals through the first eleven months already outpace full-year imports in every other year except 2005/06.
While robust, this cumulative volume of cotton imports may still fall short of the USDA forecast for 2007/08. At 10.6 million bales, cumulative imports through eleven months are 1.7 million bales short of the import forecast of 12.25 million, implying the difference must be filled in July. However, evidence suggests imports may have difficulty filling that gap this month. The highest monthly import volume this year only reached 1.48 million bales in December, and never in over two years have monthly shipments climbed as high as the 1.7 million needed in July. Should July volume not reach this level, the USDA’s full-year imports may need to be revised lower to match the volume reported by China Customs Statistics.
Apparel display: turn trash into treasure
[ 2008-07-16 ]
Same products arranged by display designers through the change of display space, arrangement of different hue and music, or even different salesperson will produce unexpected sales performance, aesthetical and art effect. Display is one kind of art, which turns commonness into wonderfulness. Display design is also regarded by young people as a perfect position combining fashion and creativity.
However, in reality, when the enterprises and the industry are paying more and more attention to display of products and display itself is developing and progressing, many enterprises and individuals suffer from inappropriate displays. Various reasons lead to the loss of compliments as "designer" or "magician" to the display personnel, while the enterprises also encounter confusions.
Many people have the opinion that the problems in display is caused by the insufficiency of display talents, absence of integrated talent team or scientific and systematic education channel, and that the talent training has become one obstacle to the whole market, but the best way to shake off the misunderstandings and ease the sufferings is dependent on the education, the source of display talents. A better combination of theory and practice is a task needed to be considered and researched by academies and training organizations in the future.
Same products arranged by display designers through the change of display space, arrangement of different hue and music, or even different salesperson will produce unexpected sales performance, aesthetical and art effect. Display is one kind of art, which turns commonness into wonderfulness. Display design is also regarded by young people as a perfect position combining fashion and creativity.
However, in reality, when the enterprises and the industry are paying more and more attention to display of products and display itself is developing and progressing, many enterprises and individuals suffer from inappropriate displays. Various reasons lead to the loss of compliments as "designer" or "magician" to the display personnel, while the enterprises also encounter confusions.
Many people have the opinion that the problems in display is caused by the insufficiency of display talents, absence of integrated talent team or scientific and systematic education channel, and that the talent training has become one obstacle to the whole market, but the best way to shake off the misunderstandings and ease the sufferings is dependent on the education, the source of display talents. A better combination of theory and practice is a task needed to be considered and researched by academies and training organizations in the future.
Qipao - a statement of Oriental beauty
SLINKY, elegant, chic (and often practical), the classic qipao was a symbol of trendy Shanghai. The old-fashioned formless dress was nipped, tucked and slit for liberated women, writes Fei Lai.
Once upon a time the qipao raised eyebrows - that was in the early 20th century when the simple form-fitting dress became the fashion for modern women in Shanghai.
The rest is history. Now the classic lady's dress is again enjoying a renaissance, especially as evening wear and in Shanghai where the standard qipao was "born."
Today qipao is a symbol of Oriental femininity. It usually has a high neck, bare shoulders, side slits and a snug fit. Some variations are quite daring, some more modest. It can be flashy or subdued, the materials brocade or cotton. Some have sleeves, some are floor-length, some touch the knees.
In any case, to wear qipao with style, one should have a nice figure. It's a rather restricting garment.
The original qipao, however, was a modest and loose garment introduced by the Manchus and popular among smart ladies in the Qing Dynasty (1644-1911).
The word qipao (literally "banner people quilt") comes from the word qi referring to the "banner" people, who were mostly Manchu. Pao means quilt. It referred to a long, straight gown, distinct from Hanfu, traditional Han Chinese clothing.
In the early 20th century, however, qipao was transformed, taken in and tailored into a garment of Chinese women's identity. In the 1920s and 1930s, it became a vogue throughout the country.
It was especially popular in trendsetting Shanghai, known for the liberation of Chinese women and for very chic women, among the first to wear qipao.
The development of the modern qipao coincided with the New Culture Movement between 1917 and 1923. Women, too, were waking up, seeking shorter hemlines and pursuing fashion.
picture -
http://www.shanghaidaily.com/sp/article/2008/200807/20080715/article_366767.htm
Once upon a time the qipao raised eyebrows - that was in the early 20th century when the simple form-fitting dress became the fashion for modern women in Shanghai.
The rest is history. Now the classic lady's dress is again enjoying a renaissance, especially as evening wear and in Shanghai where the standard qipao was "born."
Today qipao is a symbol of Oriental femininity. It usually has a high neck, bare shoulders, side slits and a snug fit. Some variations are quite daring, some more modest. It can be flashy or subdued, the materials brocade or cotton. Some have sleeves, some are floor-length, some touch the knees.
In any case, to wear qipao with style, one should have a nice figure. It's a rather restricting garment.
The original qipao, however, was a modest and loose garment introduced by the Manchus and popular among smart ladies in the Qing Dynasty (1644-1911).
The word qipao (literally "banner people quilt") comes from the word qi referring to the "banner" people, who were mostly Manchu. Pao means quilt. It referred to a long, straight gown, distinct from Hanfu, traditional Han Chinese clothing.
In the early 20th century, however, qipao was transformed, taken in and tailored into a garment of Chinese women's identity. In the 1920s and 1930s, it became a vogue throughout the country.
It was especially popular in trendsetting Shanghai, known for the liberation of Chinese women and for very chic women, among the first to wear qipao.
The development of the modern qipao coincided with the New Culture Movement between 1917 and 1923. Women, too, were waking up, seeking shorter hemlines and pursuing fashion.
picture -
http://www.shanghaidaily.com/sp/article/2008/200807/20080715/article_366767.htm
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