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Retail Asia17/02/2021

Located in Hong Kong’s exclusive Mid-Levels neighborhood, the apartment is Asia’s priciest, according to «Bloomberg.» A 3,378 square foot penthouse at the 21 Borrett Road development was sold on Monday for HKD $459,408,000 ($59,258,165) to an unnamed buyer, according to transaction details published by the developer. The apartment on the 23rd floor also comes with its own […]

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Retail Asia11/02/2021

Kampos, the ultimate Italian brand promoting luxury with integrity, is expanding overseas by entering the South Korean market. The brand has recently signed a partnership with a local distributor, Sanghyun Yu, based in the capital, Seoul, and has already established Kampos South Korea Ltd. As part of the strategy, the brand has just launched its […]

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Retail Asia01/02/2021

Italian luxury group Prada sees revenues rising to 5 billion euros ($6.1 billion) in four to five years, its chief executive said on Thursday. “We will reach five billion euros in a matter of four to five years. COVID-19 has given a strong shock to the whole system, we will see a strong acceleration when […]

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Retail Asia18/12/2020

Gift-giving looks different in a pandemic year, but consumers aren’t eschewing luxuries entirely. If you like things you can hold in your hand but still want to get in on the crypto craze, Bitcoin Suisse’s certificates are worth a look: beautifully-crafted paper wallets hold bitcoin, ether, a Swiss franc-backed stablecoin, and others. The certificate’s design […]

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Retail Asia23/11/2020

Gucci is revisiting 1960s handbags and other classics in its latest collection, mixing them with up-to-the-minute sneakers and logoed skateboards, as it seeks to reach a wider audience and reverse a fall in sales after years of stellar growth. With traditional fashion shows cancelled because of the coronavirus pandemic, designer Alessandro Michele teamed up with […]

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Retail Asia20/11/2020

Sales of luxury goods worldwide are set to fall by 23 percent to US$258 billion this 12 months, their largest ever drop and first since 2009, as a result of fallout from the coronavirus pandemic, in line with consultancy Bain. The anticipated decline, regardless of a powerful sales recovery in China, is on the decrease […]

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Retail Asia23/09/2020

Luxury fashion house Hermes has opened a new store in Osaka, its fourth store in the city. Located at Parco shopping center, the new Hermes store spans two stories and occupies a 515sqm space. Designed by the Parisian architecture agency RDAI, the store facade features floor-to-ceiling undulating glass windows, creating a “water-like effect” on both […]

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Retail Asia11/09/2020

French luxury-goods group LVMH has dropped its plan to take over Tiffany & Co, prompting the New York jeweler to announce it will file a lawsuit to enforce the deal. The US$16.2 billion takeovers was agreed to before the advent of the Covid-19 pandemic and the jeweler’s share price had dropped well below the price […]

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Retail Asia20/07/2020

Jeff Meng, a 25-year-old watch lover from a well-heeled Guangdong family, had US$22,800 burning a hole in his pocket. He could not find the Rolex Daytona watch he wanted, dubbed “panda” for its black-and-white face, anywhere in China. Thanks to the coronavirus pandemic that’s halted travel and disrupted networks of parallel importers, Chinese high-end shoppers […]

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Retail Asia09/07/2020

Burberry is reorganizing its creative team as the luxury label welcomes back Adrian Ward-Rees to lead its ready-to-wear business. The British-based luxury retailer will set up three new business units – ready-to-wear, accessories, and shoes and says it plans to “pool expertise within them” to improve its focus on products and improve quality. “The changes […]

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Retail Asia01/07/2020

The Asia-Pacific luxury-goods market is projected to sink by US$2.1 billion this year as pessimistic consumers switch from big-ticket items to the affordable-luxury realm. Retail intelligence group GlobalData has forecast luxury sales in the region will decline by 3.4 percent to reach $60.3 billion this year, compared to $62.4 billion last year. The industry has […]

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Retail Asia25/05/2020

French luxury label Chanel is under investigation for alleged breaches of South Korea’s Free Trade Act. The Korean Free Trade Commission (KFTC) is looking into allegations that the firm is placing unfair restrictions on duty-free operators distributing its products to local retailers. Korean law has recently relaxed restrictions on how duty-free companies can sell and […]

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Retail Asia13/05/2020

High-end brands have taken to online social-networking platform Line to sell luxury products during the Thai coronavirus lockdown. Off-the-runway fashion items, currently unavailable at temporarily shuttered department stores in Bangkok, are now being sold on Thailand’s dominant messaging service, previously the domain of local brands engaging in e-commerce. International names in luxury retail such as […]

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Retail Asia28/04/2020

Senior management of British luxury fashion house Burberry has taken a voluntary pay cut and the company has opted to retain base pay for all its employees during the Covid-19 crisis, without relying on UK government support for jobs. During the past three months, the firm has temporarily closed retail stores and implemented strict social-distancing […]

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Retail Asia27/04/2020

So-called ‘revenge spending’ has been credited with a significant upturn in sales of high-priced retail goods in South Korea which has tentatively emerged in recent days from a lockdown during the Covid-19 pandemic. Industry analysts say that the pent-up desire for consumption is leading to an increase in purchases of luxury goods to display wealth. […]

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Retail Asia02/04/2020

Vestiaire Collective, the online platform for pre-owned luxury fashion, has launched a charity sale to support the fight against coronavirus. Vestiaire Collective has partnered with more than 50 influential celebrities, including Kate Moss, Rachel Weisz, Thandie Newton, Anna Dello Russo and Charlotte Tilbury, to offer luxury pieces from their wardrobes. Some items were already sold […]

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Retail Asia24/03/2020

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The Hong Kong recession has proved a strong incentive for locals to sell off their luxury goods, according to a report by the Nikkei Asian Review. Several local citizens and businesses told the Japanese publication of an uptick in the private trade of luxury items, including those of a grounded flight attendant who traded her […]

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Retail Asia17/03/2020

The first MCM Philippines store has opened its doors, at the giant Mall of Asia complex in Metro Manila. The German luxury leather accessories brand MCM Worldwide store is located inside the Luxe Duty-Free precinct in the mall. The MCM Philippines boutique offers leather handbags, luggage and accessories and the store open featuring the Spring/Summer […]

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Retail Asia27/01/2020

Rich Chinese continue to snap up luxury homes in the city-state as they seek a safe and calm offshore location to park their wealth. Protests in Hong Kong are driving rich Chinese property buyers away from the special administrative region to relatively calm and stable Singapore. The Lunar New Year period is a particularly busy […]

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Retail Asia16/01/2020

Sales of luxury cars in Vietnam surged in 2019 with the rich showing greater preference for premium vehicles in a fast-growing economy. Mercedes-Benz sold the highest number of luxury cars at 6,800 units, up 8 percent from 2018. The imported crossover SUV Mercedes-Benz GLC 300, priced at VND2.56 billion ($110,600), was the best-seller, accounting for […]

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