28 March 2022, Mumbai:

As a part of its franchise deal Reliance Network has acquired 85 stores from multibrand eyewear retailer Sunglass Hut from DLF Brands.

Reliance Retail will run the business’ stores, adding to its eyewear offer as well as its premium offer.

The acquisition will be Reliance Retail’s second foreign brand acquired from DLF following its franchise acquisition of UK-based personal care and lifestyle brand Mothercare in 2018.

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Sunglass Hut retails a range of luxury and bridge-to-luxury eyewear from international brands including Prada, Burberry, Dolce & Gabbana, Oakley, and Ray-Ban, among others.

Sunglass Hut first entered the Indian market in 2013 with DLF Brands with the initial target of opening 100 brick-and-mortar stores across the country.

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DLF Brands has let go of a number of its international fashion, beauty, and personal care brands over the past few years.

In 2017, the business sold local franchisee rights to fast-fashion brand Mango to Flipkart’s fashion arm Myntra and in 2016 DLF Brands sold its Forever 21 franchise to textile giant Aditya Birla Group. 

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CREDITS: Fashion Network report.

26 March 2022, Mumbai:

The brand plans to open more such stores in leading metros across India this year. Manoj Nair, CEO, of Gaurik Lifestyle, the licensee for Guess International in India, says the store’s booming sales reinforce that customers always appreciate quality and on-trend styles.

Guess plans to add 50 new stores across India and add Rs 300 crore in revenues by 2026.

The American clothing brand and retailer produces clothing for men and women. It also markets other fashion accessories such as watches, jewelry, perfumes, bags, and shoes.

The brand was incepted in 1981 as a book of styles started by Georges, Maurice, Armand, and Paul Marciano. The brothers switched to selling jeans, with a light, form-fitting denim. Guess’s denim jeans products were officially launched in late 1981.

The company was one of the first companies to create designer jeans. In 1984, Guess introduced its new range of watches known as ‘Guess’, ‘Guess Steel’, and the ‘Guess Collection.’ In 1984, it also introduced a line of baby's clothes, called ‘Baby Guess.’

*U.S. fashion brand Guess has strengthened its retail presence in the Indian market with the opening of its fifth store in the city of Mumbai.

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The store is located at the Kurla Phoenix Mall and houses a range of apparel, handbags, accessories and more.

The brand is targeting metros to fuel its growth in India and plans to open stores in metros this year.

Commenting on the expansion, Manoj Nair of Gaurik Group which owns the rights for the Guess brand in India in a statement said, “We are thrilled to welcome shoppers to our fifth store in the country at the Kurla Phoenix Mall, Mumbai.

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CREDITS: Fashion Network.

24 March 2022, Mumbai:

Valentino, the well-known Italian luxury fashion house, is reminiscing about the days before the epidemic.

The luxury house stated that it made a profit in 2021, albeit it couldn't disclose specific figures since its financial statement hadn't been authorized yet.

The fashion label generated €1.231 billion in 2021, a 39.5 percent increase year over year (Y-o-Y). Notably, the growth was 3 percent over 2019. Valentino's revenues increased by a healthy 11% year over year in the fourth quarter, with direct retail sales increasing by 29%.

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(DTC). Valentino attributes the positive results – particularly in the fourth quarter – to an increase in price sales as well as the strengthening of the design house's tailored concierge service (available online too).

Valentino is also benefiting from the fact that it is broadening its client base by targeting young people.

In Europe, North America, and the Middle East, the Italian fashion house had the fastest growth rates.

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Valentino's DTC's short-term goal, according to FashionNetwork.com, is to reach a 70% market share by 2024-2025.

Its direct-to-consumer (DTC) sales are said to account for 57% of overall sales.

Valentino presently has over 200 directly owned outlets in over 100 countries. It was established in 1960 and is recognised for its clothing, footwear, fragrances, and fashion accessories, among other things.

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CREDITS: Apparel Resources.

25 March 2022, Mumbai:

One of India’s most popular premium denim and lifestyle brands, Pepe Jeans has adopted the Salesforce Commerce Cloud to deliver seamless eCommerce experiences.

Salesforce enables the brand’s customers to easily filter products, find what they need, fill their carts, and enjoy a quick checkout process.

They’re also shown useful outfit recommendations based on about 30 pre-defined styles curated on Salesforce.

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Salesforce also accelerates website changes and enables the brand to roll out new creatives and pages every week.

It enables Pepe Jeans to integrate the website with social channels to amplify the reach and engagement of its ongoing campaigns.

The brand is also able to track consumer behavior on the website and gauge responses to products faster.

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These insights are then incorporated into product design.

The rich reports and dashboards on Salesforce also help Pepe Jeans’ leadership teams take informed action to improve the customer journey.

The brand can view website traffic, bounce rates, conversions, and other key insights easily and make quick and better decisions.

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CREDITS: Sales Force.

25 November 2021, Mumbai:

While Covid restricts travel and duty-free shopping, South Koreans are fueling a luxury goods boom at home, with Chanel excluding roughly a third of would-be customers in order to prevent bulk buyers from snatching $10,000 bags for resale at markups of 20% or more.

Traffic to the legendary French fashion and luxury company's South Korean stores has decreased after it began screening clients it suspected of stocking up just to resell to others in the secondhand market.

"After analyzing their purchasing patterns, we were able to identify them (bulk purchasers). Since the implementation of this restriction, traffic in our boutiques has reduced by 30% "recent," Chanel said in a statement to Reuters.

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It didn't say how it determined those consumers were prospective bulk purchasers, and the privately held company doesn't break down sales by nation.

Chanel's plan, which has been in effect since July of last year, coincided with a recovery in worldwide demand for luxury products following the worst of the coronavirus epidemic. 

South Korea is the world's seventh-largest luxury goods market, and it was one of just two of the top seven economies by revenue - the other being China - to have sales increase from 2019 levels last year.

With limited internet purchasing options beyond cosmetics, fragrances, and a few tiny accessories, supply at labels like Chanel is closely managed, preserving exclusivity and promoting attractiveness.

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Long lines develop outside department shops before daybreak in downtown Seoul, as consumers prepare for what's known as an 'open run,' a dash to Chanel's doors at opening time.

"I came... at 5.30 a.m. for an open run and was told there were more than 30 people in front of me," a shopper in front of a Chanel outlet in Seoul told Reuters.

Because of privacy concerns, he spoke on the condition of anonymity. He stated the item he sought was sold out by the time he visited the store, which was approximately 10 hours later.

A Chanel medium classic flap bag was sold for 13.5 million won ($11,031) in January on KREAM, a portal that sells everything from shoes to tech and luxury items and is an offshoot of tech giant Naver Corp., demonstrating the resale market's ferocious demand. KREAM, which stands for 'Kicks Rule Everything Around Me,' was released in the year 2020.

It told Reuters that in December, monthly transactions surpassed 100 billion won, and that the resale market in South Korea is worth more than 1 trillion won, or roughly $820 million, even by conservative estimates.

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CREDITS: Reuters Euromonitor & Fashion Network.

26 March 2022, Mumbai:

Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced the appointment of Emmanuel Gintzburger as Chief Executive Officer of Versace effective September 12, 2022.

Mr. Gintzburger will report to John D. Idol, Chairman and Chief Executive Officer of Capri Holdings.

Gintzburger joins Versace from Alexander McQueen, where he served as CEO since May 2016.

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Prior to joining Alexander McQueen, Mr. Gintzburger was Worldwide Retail and Wholesale Director for Saint Laurent from 2011 to 2016, having joined the Parisian fashion house in 2009 as the Europe Retail Director. From 2007 to 2009, he served as International Retail Director at Lanvin, and prior to that, he held regional retail and marketing leadership roles at Sephora.

Mr. Gintzburger also spent six years at Louis Vuitton in Hong Kong. John D. Idol, Chairman and Chief Executive Officer of Capri Holdings, said, "I am excited to welcome Emmanuel as our new Chief Executive Officer of Versace.

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He has a proven track record of building global fashion luxury houses. We believe that Emmanuel’s vision for Versace will help us achieve our ambitions for the future.

Versace already has strong momentum and Emmanuel’s leadership will help us further accelerate our plans and strengthen our strategic initiatives."

Donatella Versace, Chief Creative Officer of Versace, said, "I am delighted Emmanuel has joined the Versace family; he has an amazing background in luxury.

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CREDITS: sg.news.yahoo (The news article has not been edited by DFU Publications staff).

24 March 2022, Mumbai:

Nike, the American sportswear behemoth, had total revenues of about US $ 11 billion in the third quarter. The company announced that its quarterly revenues were US $ 10.9 billion, up 5% from the same time a year before.

Nike's direct sales increased by 15% (on a reported basis) and 17% (on a currency-neutral basis) to a new high of US $ 4.6 billion, mainly to increase foot traffic at Nike-owned shops.

It's worth noting that Nike-owned stores saw a 14 percent increase in sales.

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While Nike's wholesale revenues fell 1% (on a reported basis) and gained 1% (on a currency-neutral basis), the company's brand digital sales increased by 19%.

In particular, Nike's digital sales increased by 33% in North America, EMEA, and APLA, offsetting a decline in Greater China.

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Nike's revenue was US $ 10.3 billion (with a good increase in EMEA), whereas Converse's was US $ 567 million (strong growth in North America and Europe).

With revenue exceeding the US $ 37.4 billion in 2020, Nike, which was founded in 1964, is the world's leading seller of sports shoes and gear.

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CREDITS: Business Today Business Wire & Apparel Resources.