News
  • Trussardi opens flagship store in Shanghai

    vLocated on the third floor of the famous Plaza 66 Shanghai mall, the new store is designed in true Italian elegance with a hint of modernity. The warm lighting and golden hues reflect the DNA of the brand and features the Trussardi greyhound moniker, continental marble and brass finishings throughout the fit out. The new China store stocks Trussardi’s full men’s and women’s lines, as well as select eyewear and fragrance known to the luxury house. In addition, the Lovy bag, Trussardi’s “icon bag” for autumn/winter 2017, will be available for Chinese consumers in a range of colours. The trapezoidal bag comes made of fine leather, and boasts a polished metal greyhound clasp with a circular design, which is an update of the historical clasp from the brand’s archive, said the brand online. The Plaza 66 location is the brand’s 16th Trussardi store in China. Trussardi first entered China in 2012, opening its flagship store in Shanghai on The Bund. At the time of the opening, CEO Tomaso Trussardi told Jing Daily, that his family’s business is eyeing market growth, namely in China. “We want to grow,” Trussardi said. “We are growing at a double-digit rate in every market. And speaking of growing, since Europe is in recession and there is little market share for us in America, we would like to focus on China.” In December 2016, Trussardi named Massimo Dell’Acqua its new Managing Director, reporting to CEO Tomaso Trussardi, who was in sole charge of the group, with the support of his family. The move hopes to strengthen Trussardi’s position and management expertise. Trussardi is helmed by Finos Ltd, which is owned by Tomaso Trussardi (50%), his sister Gaia (25%) and their mother, Maria Luisa Gavazzeni (25%).

  • Victoria’s Secret to open mega store in Macau

    Victoria’s Secret will open a new mega store in Macau on April 27, as the US brand eyes further Asia expansion, following its China debut store opening last February. Under parent company L Brands, the 15,000-square-foot Macau full assortment store  — which not only sells its branded accessories and cosmetics but lingerie and sportswear — will bow at St Mark’s Square at The Venetian. In addition to the latest collections and pieces, the store will showcase five sets of Victoria’s Secret angel wings – all of which have featured on the runway of past Victoria’s Secret shows. The curate will be on display at The Venetian from April 26 to May 31. The news comes as the fashion lingerie conglomerate opened its first standalone store in mainland China in February. The four-story, 25,850-square-foot flagship opened in Shanghai, followed by a 12,294-square-foot store debut in Chengdu one week later. A Beijing store is coming later this year. Meanwhile, Victoria’s Secret’s Asia expansion is also taking on a flagship store in Hong Kong. The brand is reportedly taking up prime location in Causeway Bay, the former residence of Forever21. It is slated to open in Hong Kong next year. Fellow lingerie maker La Perla has already opened a four-storey flagship store in Causeway Bay in late 2015, located on the iconic, and expensive, Russell Street. More and more international retailers are renewing leases in the region as tents in Hong Kong continue to drop, especially in Causeway Bay. According to a recent report by Everbright Property Investment Consultancy. For the first quarter of 2017, major lease transaction records in Hong Kong’s high-traffic tourist areas — including Central, Causeway Bay, Mong Kok and Tsim Sha Tsui — featured drops in monthly rents of up to 72% in some cases. On average, Causeway Bay witnessed the sharpest rent price decline for the period, down 31%, the report said.

  • Jimmy Choo up for sale

    UK luxury retailer Jimmy Choo is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Monday. The company, which specializes in shoes and accessories, said it had discussed the strategic review process with its majority shareholder, JAB Luxury, which has confirmed it supports the process. JAB Luxury holds 67.7 percent of Jimmy Choo, which has more than 150 stores globally.

  • Shirble Department Store to acquire two properties for CNY611 million

    Shenzhen-based department store operator Shirble will invest CNY611 million to purchase two properties in Shenzhen and Changsha. Shirble will pay CNY419 million for the property in Shenzhen and it will pay CNY192 million for the one in Changsha. The related parties signed property transfer contract on March 14, 2017. The construction area of the Shenzhen property is about one million square meters and the construction area of the Changsha property is about 1.629 million square meters. Shenzhen Jingtian store is one of the most valuable department stores of Shirble and it contributed the most to Shirble in the past five years. At present, the remaining lease term of this store property is less than eight years. Meanwhile, the remaining lease term of the Changsha store property is less than 12 years. The previous owner planned to sell the two properties. To avoid the negative impact brought by the change of property owners, Shirble Group decided to buy the properties itself.

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