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Chloe Green to launch US collection Friday, 3rd May 2013
Image courtesy of Topshop
Sir Philip Green’s designer daughter Chloe is set to launch a range of her own shoes, jewellery and scarves at Topshop stores in New York and Los Angeles on 30 May.
“I’ve been in America for a while sussing out the customer,” Green told WWD on Tuesday afternoon at the Topshop in L.A.’s The Grove.
The collection features spiked pumps, chain-linked gladiator sandals and high-top trainers.
Kate Spade sales up 22% as Fifth & Pacific narrows losses Thursday, 2nd May 2013
Photo credit: Lucky Brand Jeans
Kate Spade and Lucky Brand owner Fifth & Pacific Cos. Inc., on Thursday posted upbeat first quarter results after managing to narrow its loss from last year.
In the three months to 30 March, net loss came in at USD 52.2 million, or 44 cents a diluted share for Fifth & Pacific, an improvement on the USD 60.6 million, or 60 cents a share recorded a year ago. Net sales rose 17.2 per cent to USD 371.8 million from USD 317.1 million.
Reporting back on the first quarter, William L. McComb, chief executive officer, said, "We were pleased with the performance of Kate Spade and Lucky Brand during the quarter, where both brands had solid increases in net sales and adjusted EBITDA. Kate Spade posted a 63 percent increase in total net sales and a 22 percent increase in direct-to-consumer comparable sales, driven by strong performance in all channels of its business."
McComb added that the group “remain excited” about the recent launch of the Kate Spade Saturday, describing a “promising start” for the lifestyle brand.
Fifth & Pacific said direct-to-consumer comparable sales for the Kate Spade brand rose 22 per cent and for the Lucky Brand business 2 per cent. Comparables at Juicy Couture fell 2 per cent.
Mulberry presses on with global expansion Thursday, 2nd May 2013
Photo credit: My Retail Media
Seemingly unperturbed by profit warnings, luxury brand Mulberry is set to ramp up expansion plans over the current fiscal year, eyeing new locations across northern Europe, Asia, the US and Canada.
According to WWD, Mulberry’s first stand-alone store located on Belin’s Kurfürstendamm is the first of a handful planned for Germany. Chief executive Bruno Guillon told the paper the company is now considering prime retail space in Düsseldorf, Frankfurt and Munich.
Mulberry’s focus on Europe is somewhat at odds with the recent trends for luxury brands based on the continent, who have instead favoured the expanding markets of China and the Middle East for increasing their global presence.
Speaking on how the label is trading in Germany, Guillon told WWD that its current turnover “is not so important. We are quite small, and are really just starting. But the customer here appreciates the brand’s focus on quality.”
As one of the favourite go-to-brands with the fashion set in the last decade, 2013 is set to be a bumper year for Mulberry as it prepares to add 15 to 20 directly operated stores across Europe, Asia, the US, Canada and the Middle East over the current financial year. Vienna will soon play host to a new Mulberry store, with Guillon also hinting at a larger location in Paris. Stateside, Mulberry will open at least four more over the course of the year, including Canada, with the view to open four to five more stores each year.
And while the brand continues to increase its global presence, the heart of Mulberry’s operations will remain firmly on UK soil, as the label works to open its second English factory this summer. The launch will enable Mulberry to double the share of bags produced in England to 40 to 45 per cent, with talk of opening a third domestic production facility in the future. Speaking to WWD, Guillon said: “You don’t see a lot of companies opening factories [at home], and hiring 300 people. We want to continue to reinforce production in England.”
Reiss director set to depart Thursday, 2nd May 2013
Image courtesy of Reiss
E-commerce director Dan Lumb is set to be the latest in a chain of executives to depart the company, although the retailer has not yet responded to questions regarding his rumoured exit.
Trading director Gwynn Milligan and commercial director Sanjay Sharma left the business in February and March respectively.
Reiss made a profit of £4 million for the year to 31 January 2012.
Hugo Boss hit with fall in Q1 sales Thursday, 2nd May 2013
Photo credit: Hugo Boss
Hugo Boss reported a bigger-than-expected fall in first-quarter sales as tough trading in Europe and a slowdown in Asia hit home for the German fashion house.
Sales eased by 2 per cent to £593 million for the first quarter, while EBITDA fell 11 per cent to £133 million.
A Reuters’ consensus poll expected flat results, with analysts forecasting a core profit decline between 7 and 13 per cent.
“The market environment proved to be very challenging in the early months of this year,” said Claus-Dietrich Lahrs, chief executive of Hugo Boss, adding, “With a better performance of the wholesale business in the further course of this year, we shall return to renewed growth in the second quarter already. We therefore reconfirm our sales and profit targets for 2013.”
Overall, sales generated in the wholesale business in the first quarter were down 14 per cent compared to the previous year after adjustment for currency effects. Hugo Boss’ own retail business, including outlets and online business, posted a sales increase of 15 per cent in local currencies.
Worldwide, Hugo Boss reported a mix bag of results: sales in Europe, where wholesale remains the most important distribution channel, were down 5 per cent compared to the previous year. In the Americas, sales in local currencies increased by 6 per cent supported by a continued positive performance in the US. A slight growth in China led to a 1 per cent increase in sales in Asia after adjustment for currency effects.
Hudson's Bay boosts Tommy Hilfiger presence in Canada Wednesday, 1st May 2013
Image courtesy of Hudson's Bay
Hudson’s Bay is to open some shops-in-shops for Tommy Hilfiger as the department store giant boosts the assortment of the American sportswear brand across Canada.
The department store is opening 59 new ‘shop-in-shops’ at 59 locations in Toronto and is planning to add 17 more this autumn. The rest of the Hudson’s Bay stores will be fitted with Hilfiger boutiques in 2014.
“Our strategic alliance with Hudson’s Bay for Tommy Hilfiger menswear has served our business very well, and we’re excited to be expanding the partnership,” said Gary Sheinbaum, chief executive officer of Tommy Hilfiger North America, a division of PVH Corp.
Asos posts 11% H1 profit boost Tuesday, 30th April 2013
Image courtesy of Asos
The British fashion e-tailer is looking to the future with optimism after it posted an 11 per cent rise in first half profit.
Its shares have more than doubled over the past year, valuing the company at £2.46 billion.
Asos recently revealed an underlying pre-tax profit of £25.7 million in the six months to 28 February - a sign that the business is defiantly bucking the gloom that appears to pervade high streets across the UK.
UK retail sales were up 26 per cent to £137.6 million for the period, while overseas sales increased 39 per cent to £214.7 million.
“Our international roll out continues and our 1 billion pounds sales ambition for the group is firmly in our sights," Chief Executive Nick Robertson told Reuters, noting that progress on establishing dedicated websites for both Russia and China remained on track.
Kookai departs UK Monday, 29th April 2013
Kookai is pulling out of the United Kingdom after the flagging retailer initiated a solvent liquidation of its UK-based assets. This move was ordered by its French owner, Vivarte Group, which is attempting to stem losses from its international businesses.
Asher Miller, partner and insolvency practitioner at David Rubin & Partners, told Insolvency News: “Kookai is currently restructuring and we were instructed by the French shareholders to wind down the UK operation. The company is retrenching back to France and withdrawing from the UK. The final payments to creditors have been made.”
The womenswear business has been struggling to make a profit at its UK arm for several years and its last set of public results revealed a 24.6 per cent sales dip for the year to 27 August. Pre-tax losses hit £2.5 million for the period.
Asos welcomes double-digit profit boost Monday, 29th April 2013
Image courtesy of Asos
Asos is tipped to report a 16 per cent rise in first half profits to approximately £25 million, according to reports.
Figures show that UK sales increased 28 per cent in the three months to the end of February, with global sales up 37 per cent to £186.5 million. The international arm of the fashion e-tailer recently reported a 45 per cent sales increase to £110.9 million in the second quarter.
Analysts at Panmure Gordon said that Asos were moving into the “very big league”.
M&S linked to Jaeger bid Monday, 29th April 2013
Photo credit: Jaeger
According to a report by the Daily Mail, M&S chief executive Marc Bolland is said to have considered putting together an offer for Jaeger before it was bought by private equity group Better Capital in April 2012.
Citing industry sources, the Daily Mail went on to suggest M&S is expected to keep an eye on Jaeger in case Better Capital looked to sell the brand on in the future.