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Hong Kong continues to demand world’s priciest retail rates Monday, 13th May 2013
Hong Kong held its place as having the world’s highest rent for prime retail properties in the first quarter, demanding almost 50 per cent more than property in comparable locations worldwide. According to a report by CBRE Group Inc., rents in Hong Kong were more than four times those in similar locations for London and Paris, with annual retail rent in high-end shopping areas in the Chinese metropolis averaging at USD 4,328 per square foot.
Galliano pulls out of Parsons workshop Wednesday, 8th May 2013
Controversial British fashion designer, John Galliano, has abruptly cancelled his ‘SHOW ME EMOTION’ workshop at Parsons, according to The Cut. The news comes after Galliano refused to engage in a “frank discussion” about his career “trajectory”. Galliano became embroiled in controversy following anti-Semitic remarks made in a Paris bar in 2011.
Mulberry presses on with global expansion Thursday, 2nd May 2013
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.
Is Costa Coffee preparing a Parisian expansion? Thursday, 25th April 2013
Costa Coffee owner Whitbread is reportedly on the hunt for high street stores in Paris as it looks to expand the chain’s presence across the Channel. The coffee chain, which is the second largest in the world behind Starbucks and the largest in the UK, has been running outlets at a number of travel hubs across Spain, Portugal and the Gare de Lyon rail station in Paris to help test interest in the brand on the continent.
Hermès announces 24.6% rise in year-end sales result Thursday, 21st March 2013
Hermès International SCA on said in a statement on Thursday that it saw a notable 24.6 per cent rise in profit in the financial year of 2012 after increasing their production capability. The profitability came as a surprise to analysts, of which most expected the profit to be EUR1.09 billion.
Riccardo Tisci to design for the Paris Opera Ballet Tuesday, 19th March 2013
Riccardo Tisci is to create the outfits for the Ballet de l'Opéra de Paris production of 'Boléro', WWD has reported.
Christian Dior SA celebrates 14% rise in sales Monday, 4th March 2013
Jennifer Lawrence stars in the Miss Dior Handbag campaign. Christian Dior SA, parent company of the Dior fashion house and LVMH Moët Hennessy Louis Vuitton reported a 14 per cent on-year rise in sales to EUR 22.81 billion in the nine months to the end of January. Sales of Christian Dior Couture rose 19 per cent to EUR 971 million in the nine months from 1 May 2012 to 31 January, while Dior continue to expand its retail network, growing by 24 per cent for the period and boosted by all product categories.
MAC to open innovative flagship store on the Champs-Elysées Saturday, 2nd March 2013
MAC Cosmetics is set to launch their new flagship store on Champs-Elysées, Paris on Friday, according to WWD.com. This store will be MAC’s third-largest store, the two New York sites being the only two to surpass it. The 4,022-square-foot property is situated in the busy Champs-Elysées that attracts more than 170 million people annually.
Galeries Lafayette plots counter offer for Printemps Friday, 22nd February 2013
Fighting talk from Galeries Lafayette as its chief executive plans a counter offer for rival Printemps. Philippe Houze, chief executive of upmarket department store Galeries Lafayette has told French daily Le Figaro the retailer plans to make a counter bid on its competitor, after news emerged that Qatari investors had teamed up with Italian businessman Maurizio Borletti.
Qatari investors in talks for Printemps Thursday, 21st February 2013
Printemps, the high-end French department store has caught the eye of Qatari investors who are reportedly involved in exclusive take-over talks with the company. According to Reuters, unnamed Qatari investors have joined forces with Italian businessman Maurizio Borletti to bid for a 70 per cent stake in Printemps, currently owned by Deutsche Bank’s real estate arm RREEF.