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A year after the French luxury departmentstore originally announced it would be launching its first US location, Printemps is officially opening a brick-and-mortar store in the heart of New York Citys financial district on March 21. Unlike its other locations, the Printemps New York store will not have shop-in-shops.
Indian retail conglomerate Reliance Industries Limited has signed a franchise agreement with American luxury departmentstore Saks Fifth Avenue to expand its luxury retail portfolio through its subsidiary Reliance Retail, the company said in its third-quarter financial report last week.
Central’s acquisition move is not unusual,” Selvane Mohandas du Ménil, International Association of DepartmentStores managing director, told Inside Retail. Central Group made the headlines again in 2022 after snapping up Selfridges Group, making it the largest luxury departmentstore operator in Europe.
Macy’s has been stepping up to the plate with a series of new moves, from the expansion of its smaller-footprint stores, to a new digital fashion platform targeting younger shoppers. But while these initiatives sound promising, the question remains: can the departmentstore chain truly adapt to the needs of the modern-day consumer?
Inside Retail connected with retail experts Nikki Baird, the vice president of strategy and product at Aptos, a retail technology company, and Neil Saunders, managing director and retail analyst at GlobalData, to gather their thoughts about the potential “Great Mall Resurgence” and what retailers should keep in mind.
The US luxury retailmarket was worth US$134.6 billion last year, retail analyst and GlobalData managing director Neil Saunders told Inside Retail. The brand plans to increase the number of locations from four to 24 by the end of next year.
The Role of E-Commerce in Inflationary Periods During times of inflation, online retailers have an advantage over physical stores. Many costs are avoided by digital shops, including multiple locations, large staff teams, and high utility bills. When inflation is high, departmentstores expand their clearance sections.
As more retail chains file for bankruptcy and close more stores amidst the ongoing pandemic, Amazon is looking for opportunities among the ruins. . The location of the malls also affords Amazon the advantage of easy access to its mini-warehouses for the items from the third-party sellers it supports on its platform.
And while Central Group’s publicly listed subsidiary, Central Retail, has denied any involvement in the transaction, multiple reports suggest that another division of the conglomerate is involved in the talks. Central’s superregional malls and departmentstores are ubiquitous in Thailand.
“In fact, we’ve made a big bet on the latter with multiple investments in companies that are focused on bridging the gap of DTC to physical, including Neighborhood Goods (the departmentstore of the future) and Shelfleet , which allows services businesses to add retail to their locations via rentals.”
The Editors’ Perspectives column offers insights and opinions from the Retail TouchPoints editorial team as they dig into the latest trends in retail, marketing and tech. Stay tuned next week for our coverage of the Jordan Brand’s District 23 activation at the former iconic Tati Barbès departmentstore.
“In fact, we’ve made a big bet on the latter with multiple investments in companies that are focused on bridging the gap of DTC to physical, including Neighborhood Goods (the departmentstore of the future) and Shelfleet , which allows services businesses to add retail to their locations via rentals.”
Many retailers are finding that their investments in UCC technology have given them a standard set of functionality in common with their competition. It also enables retailers to support implementations that deliver a seamless experience regardless of customer location or communications preference — at the retailer’s chosen pace.
So, it came as a surprise to some when the LVMH-owned retailer announced on its Korean social media accounts that it would be gradually terminating all its operations in South Korea, including its app, online store, and physical stores, beginning May 6. billion won (US$9.26 million), 14.5 billion won (US$10.6 billion won (US$12.9
The place to be and be seen In Australia (and elsewhere), the CBD was at the epicentre of the evolution of discrete retail spaces. It offered a smorgasbord of independently owned shops, national and international chain stores and departmentstores. In short, the CBD was the place to see and be seen.
Skims, Kim Kardashian’s shapewear brand, is reportedly in talks to take over the vacant Ted Baker flagship store at 245 Regent Street, London, Drapers has reported. The prime retaillocation has been empty since August, following Ted Bakers closure of its remaining UK stores.
Vincom is easily the largest mall developer and operator in Vietnam, and wants to focus less on new development this year and more on a trifecta of objectives aimed at its existing mall fleet: driving rental growth, upgrading its market positioning, and strengthening the shaky operating metrics of elements of its far-flung portfolio.
MAGIC , the leading industry connector for the trend and young contemporary markets, organized by Informa Markets Fashion, recently announced its 2022 event calendar, which includes the debut of a new event – MAGIC Nashville, aimed to expand the retailmarket and fill gaps between primary buying seasons.
Recent reports suggest that Walmart is beating Amazon in India’s fast-growing online retailmarket, which is expected to be worth $200 billion by 2026. Loyalty members will enjoy free unlimited delivery while employees in the store can dedicate themselves to helping customers.
We have assembled all the numbers you need, including store operations, shopper behaviors, how retailersmarket their businesses, and much more. If you own a retailstore or are considering shop ideas for a new one, take a look at the stats below. Retail Statistics: The Big Picture. Physical Stores.
For small retail outlets, this might mean offering goods that aren’t available in big departmentstores, giving you an edge in the market. Leveraging retail recruiters to go find professionals in your organization to find reliable suppliers can be a competitive edge.
As a business grows and introduces more products, locations, and channels, the complexity of managing merchandise planning increases exponentially. Spreadsheets, which work for small-scale operations, become cumbersome and unreliable for multi-locationretailers managing thousands of SKUs. billion in 2024 to $85.07
This week, Macy’s announced plans to shut down 150 “underproductive” stores, more than one-fifth of its departmentstore assemblage, over the next three years. The closures are a part of the retailer’s plan “to create a more modern Macy’s, Inc. However, the legacy retailer’s reputation has been on shaky ground of late.
Take Indigo, for instance: The opening of their first “cultural departmentstore” at the Sherway Gardens location last year marks the upgrade from the original Chapters model to an unparalleled shopping experience.
They arrived with great fanfare but many international retail brands have found the Australian retailmarket has been a graveyard. Even prime locations, local partners, name recognition and often a portfolio of new merchandise brands haven’t kept Australia from becoming a dead end for some major international retailers.
Under his leadership, the K11 chain of malls was created: the first of them, opened in 2009, was the K11 Art Mall in Tsim Sha Tsui, located adjacent to the teeming Tsim Sha Tsui and East Tsim Sha Tsui stations and connected to the Hyatt Regency Hotel. K11, for all its quality and ambition, is not yet bringing culture to the broader public.
Here, we speak with CEO Graham Dean about the challenges of scaling a business at the right pace, the importance of a consistent growth strategy and how global departmentstores can compete with specialty retailers. Inside Retail : Harris Scarfe is marking 175 years of trading this year. GD: Many times.
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