Shanghai DTianxia
A meeting a week,
Overview of the most realistic global retail storm.
Image source/Visual China
[Issue 107]
05.02-05.08
Swire Real Estate Sales in Hong Kong and Mainland China fell in the first quarter
Fujian's first K11 entry Xiamen Wuyuanwan Wetland Park TOD project
South Korea Lotte Duty Free Shop Will open a branch in Sydney
Pandora's revenue rose 21% in the first quarter to 5.69 billion Danish kroner
Starbucks China's same-store sales fell 23% in the second quarter
Yum China Net profit fell by more than 50% in the first quarter
AmorePacific's sales in Asia-Pacific fell in the first quarter. 10%
Gucci, Philipp Plein store accepts cryptocurrency payment
SHEIN intends to bid for British fast fashion Missguided
Baiguoyuan submits listing application to the Hong Kong Stock Exchange
...
1 Commercial real estate
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Performance/rental
1 Sales in five major Japanese department stores increased in April
5 major Japanese department stores announced sales data for April, as follows:
Mitsukoshi Isetan (Capital Circle) sales increased by 29.6% year-on-year, and duty-free sales exceeded the same period last year. ;
Omaru Matsuzakaya Department Store total sales increased by 23% year-on-year, and duty-free sales increased by 154.5%;
H2O Retail Company Department Store Business Department Sales increased by 42.2% year-on-year, of which Hankyu total stores increased by 56.3%, Hanshin Umeda total stores increased by 143.6%;
Takashimaya sales increased by 23.8% year-on-year, duty-free sales increased by 77.4%, and store sales increased by 21.6 except duty-free. %; sales of
Seibu Department Store
0 stores increased by 12.3% year-on-year, of which Seibu Ikebukuro's total store increased by 21.5%; duty-free sales decreased by about 35%, down about 85% from the same month in 2019.
2 Swire Real Estate's sales in Hong Kong and mainland China declined to varying degrees
On May 6, Swire Co., Ltd. disclosed the operating data of Swire Di production Co., Ltd. for the first quarter of 2022.
As of the end of the reporting period, in terms of retail properties, the rental rate of Pacific Plaza shopping mall in Hong Kong was 96%, and retail sales increased by -9.1%; the rental rate of Pacific City center was 100%, and retail sales increased by -10.4%; the rental rate of famous store warehouses in Donghuicheng City was leasing at famous stores in Donghui City 100%, retail sales increased by -21.3%.
The rental rate of Taikoo Li in Sanlitun, Mainland is 100%, and retail sales increase -3.7%; Guangzhou Taikoo Hui rental rate is 99%, retail sales increase -7.8%; Beijing Yiti Port rental rate is 99%, retail sales increase - 11.9%; Chengdu Ocean Taikoo Li rental rate was 97%, retail sales increased by -3.3%; Shanghai Xingye Taikoo Hui rental rate was 98%, retail sales increased by -27.0%; Shanghai Qiantan Taikoo Li leasing rate was 90%.
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Opening/New recruitment
1 Aeon Moon City plans to open a new shopping center in Hue, Vietnam in 2024
5 On May 6, Aeon Moon City announced its decision to be in the central area of the third economic zone in Vietnam— Hue has opened its first store, "Hue Aeon Dream City", with a site area of about 86,000 square meters and is expected to open in 2024.
2 Fujian's first K11 run Xiamen , Wuyuanwan Wetland Park TOD project
May 5th news, the winning bid for the TOD project of Xiamen Wuyuanwan Wetland Park TOD project has been released recently, and was released by Shenzhen Xinyisi Business Co., Ltd. Win the bid.
Image source/project party
Qichacha information shows that the winning company is a wholly-owned subsidiary of K1Select Management Company Limited, which means that K11 will enter Wuyuanwan , becoming the first K11 in Fujian Province.
3 Macy's and Reebok deepen cooperation
Macy's recently announced a deeper partnership with the British shoe brand Reebok. Starting from the spring of 2023, Reebok products will be released simultaneously offline and online, covering men's and women's clothing, covering men's and women's clothing. And children's clothing, and the exclusive series created by Reebok for Macy's. Previously, Macy's only sold Reebok's footwear products.
It is worth noting that Reebok was acquired by Authentic Brands Group from adidash in March, with a transaction value of 2.1 billion euros.
4 South Korean Lotte Duty Free Shop will open a branch in Sydney
South Korean Lotte Duty Free Shop said on May 3 that the company will open a branch in the commercial district of Sydney, Australia on the 5th. This is the first time Lotte Duty Free has opened a store overseas since June 2020.
Rakuten predicts that with the recovery of the Australian tourism market, the sales of newly opened stores in Sydney are expected to reach 1 trillion won (approximately RMB 5.264 billion) in the next ten years.
The Australian duty-free market had an average annual market size before the epidemic. The competition among duty-free shops around the world was fierce. Lotte plans to take this store opening as an opportunity to develop into the largest duty-free shop leader in the local area.
Lotte Duty Free Shop has suspended all overseas stores due to the epidemic, but at present, all other stores except Jinlan International Airport in Nha Trang, Vietnam have resumed business. Thanks to this, Lotte Duty Free's overseas sales soared by 140% year-on-year in the first four months of this year.
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Digitalization/Technology
1 John Lewis has formed a digital department and will recruit more than 150 new employees
As consumers become more and more accustomed to purchasing clothing products online, British department store chain retailer John Lewis recently announced that it will form a digital department , more than 150 related talents are being recruited, including software, cloud platforms, local applications, data and delivery, to better lay out omni-channel retail.
As of now, John Lewis operates 34 department stores and 331 supermarkets in the UK.
2 Brand tracking
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New store is here
1 Paris fragrance brand Diptyque Seoul opens the world's largest flagship store
Paris-based fragrance brand Diptyque cooperates with local retail wholesaler Shinsegae International to open one of the most fashionable shopping areas in Seoul The world's largest flagship store.
retail space area is no less than 260 square meters. In addition to the packaging service area, it also displays a full range of perfumes and scented candles. On the first floor, you can find a variety of experience spaces, including dining room, kitchen, laundry, living room and bathroom. The restaurant is equipped with a Louis XIV-style fireplace from France and a large plaster chandeliers.
Diptyque opens a new flagship store in Seoul, picture source/CPPLUXURY
2 Coca-Cola opens its first European fashion concept store in London
Coca-Cola opens its first concept store in London, UK. The store is located in Long Acre, Covent Garden, and is mainly sold for limited quantities. Products such as clothing series, exclusive designer collaborations, gifts and unique beverage creations, including personalized customization centers.
The store will also launch new limited edition products from local and global brands every month, with partners including Soho Grit, Alma de Ace, Bape, Herschel, Staple, Be@rbrick and Lee.
3 ARKET offline stores in Shanghai and Guangzhou will open this fall
Following the opening of the first domestic offline store in Beijing in September 2021, HM's Nordic lifestyle brand ARKET will open the second and third domestic stores in Shanghai and Guangzhou respectively. The physical store marks the expansion of the brand's offline market in eastern and southern China. In addition to still providing sustainable and high-quality classic men's and women's clothing, children's clothing and home furnishings, the new
store will also provide vegetarian coffee meals to show the unique charm of the modern ARKET market.
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Performance quick review
1 Tim Hortons expects that Canadian same-store sales may grow in medium and high digits this year
As the market changes, Tim Hortons2 expects that Canadian same-store sales will achieve medium and high single-digit growth in 2022. According to previous reports, its Canadian same-store sales increased by 10.8% in 2021 and fell by 16.5% in 2020.
Image Source/Getty Images
The coffee chain's same-store sales increased by 8.4% in the first quarter, lower than Street Account's estimated 9.6%, but same-store sales in Canada rose by double digits.
2 Japan Uniqlo html same-store sales in 54 increased by 15.8% year-on-year
According to Fast Retailing Group, Uniqlo html same-store sales in 24 increased by 15.8% year-on-year, the number of customers increased by 3.9%, and the average customer price increased by 11.5%; the comprehensive sales of the entire store increased by 1 year-on-year 18.7%, the number of customers increased by 6.5%, and the average customer price increased by 11.4%. During the period, 14 stores were opened and 4 stores were closed.
3 Woolworths sales rose 9.7%, and online sales soared
Australian supermarket giant Woolworths reported sales rose 9.7% to AUD 15.1 billion in the third quarter of this year, of which online sales rose 33.4% to AUD 1.5 billion.
The company's CEO Brad Banducci said: "Group sales grew strongly this quarter as the recovery of shopping behavior related to COVID-19 earlier this quarter led to an increase in our household consumption, while food inflation continued to rise."
Image source/Australian financial news
4 Pandora's revenue rose 21% to 5.69 billion Danish kroner
Danish jewelry brand Pandora (Pandora) released a performance announcement, showing that revenue in the first quarter rose 21% year-on-year to 5.69 billion Danish kroner 5.69 billion Danish kroner 1 .
's good performance revenue is mainly due to the successful launch of the brand's cooperation with Marvel, which has caused the brand to generate about 40 million exposures on social media, and the series sales account for 3% of the total revenue.
During the reporting period, Pandora's sales in Europe and the United States recorded strong double-digit growth. The Chinese market, which was once highly anticipated by Pandora, suffered heavy losses, falling 18% year-on-year, down 57% compared with 2019.
Previously, Pandora said in her financial report that there are still low single-digit percentages of physical stores temporarily closed. In addition, physical stores in many markets are also negatively affected by other restrictions, especially in China.
5 Starbucks' overall sales in the second quarter were higher than expected, but China's same-store sales fell by 23%
On May 3, the world's largest coffee chain brand Starbucks Group (Starbucks Corp) released (as of April 3, 2022 for a period of 13 Weekly) Key financial data for the second quarter of fiscal 2022:
In the second quarter, Starbucks sales increased by 14.5% year-on-year to a record $7.64 billion, higher than the previous analyst estimate of $7.6 billion. This is all thanks to strong demand in the US market offsetting the sharp decline in the Chinese market.
Image Source/Visual China
For the region, in the second quarter of fiscal 2022, sales in North America increased by 17% year-on-year to US$5.4 billion, mainly driven by strong performance of new stores and franchised stores.
, while the overseas market has performed poorly, affected by the sharp decline in its second largest market, the Chinese market, international same-store sales fell by 8%. With the re-imposition of lockdown after the COVID-19 pandemic, same-store sales in the Chinese market fell by 23% this quarter, affected by a decline in same-store sales of 20% and a decline in average customer unit price of 4%.
6 Yum China's net profit fell by more than 50% in the first quarter. This year's store expansion target remains unchanged
On May 4, Yum China Holdings Co., Ltd. released its first quarter financial report for 2022. The company's adjusted net profit fell 56% year-on-year to US$102 million, and revenue increased by 4% to US$2.67 billion.
Regarding the sharp decline in net profit, Yum China explained that it was mainly due to the decline in operating profits and the losses caused by the company's equity investment in Meituan based on market value. Yum China said that the epidemic has brought significant fluctuations to the company's operations in the first quarter.
Regarding the annual performance outlook for 2022, Yum China said that although it will face greater challenges in the second quarter, it is still optimistic about the long-term development potential of the Chinese market. The company's fiscal year 2022 target remains unchanged, including a net increase of approximately 1,000 to 1,200 stores; capital expenditure is between approximately US$800 and US$1 billion.
7 Korean beauty giant AmorePacific's sales in the Asia-Pacific region fell by 10% in the first quarter
South Korean beauty group AmorePacific released its first quarter performance data for the 2022 fiscal year, with sales falling by 7% year-on-year to 1.165 trillion won. Operating profit fell 10.4% to 158 billion won, and net profit fell 12.8% to 120.1 billion won.
Amorepacific Sulwhasoo high-end herbal skin care products, picture source/Visual China
The group said that the decline in performance was mainly affected by the decline of 10% in many stores in the Asia-Pacific market where China is located due to the temporary closure of operations due to the epidemic, while in North America, it is not only the same as the decline in sales of many stores in the Asia-Pacific market. Achieve a strong growth of 63%.
8 Moncler's revenue surged 60% in the first quarter
In the three months ended March, the revenue of Moncler Group rose 60% year-on-year to 589 million euros, exceeding analysts' expectations of 564 million euros, of which the Moncler brand's sales were 473 million euros, a year-on-year increase of 29%, and Stone Island's performance also recorded a 31% increase to 116 million euros.
Moncler said that although 30% of Chinese stores have temporarily closed since mid-March, brands still achieved double-digit growth in China in the first quarter.
9 Estee Lauder Revenue in the third quarter was lower than expected, and will increase the price again in the second half of the year
In the three months ended March 31, Estee Lauder Group sales increased by 10% year-on-year to US$4.25 billion, which is less than the market expectations Net profit was $4.31 billion, up nearly 22% from $460 million in the previous year. Among them, sales of skin care products increased by 6%, cosmetics increased by 9%, perfumes increased by 28%, and hair care products increased by 15%.
by region, sales in the Americas rose by 15%, sales in Europe, , Middle East, and Africa increased by 17%, and the Asia-Pacific market where China is located fell by 4%.
The group's chief financial officer Tracey Travis said that due to China's business, the group's annual sales growth will narrow to 7% to 9%, lower than the previous forecast of 13% to 16%, and in July and August this year, the group said The product price will also be raised again to deal with inflation.
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Membership/E-commerce/digital
1 Gucci stores, Philipp Plein London flagship store accepts cryptocurrency payments
Italian luxury brand Gucci will pilot more than ten cryptocurrency payments in some American stores such as Miami , Los Angeles, and New York this month , to strengthen the brand's connection with blockchain technology users and metaverse players.
As one of the first luxury brands to explore the metaverse, Gucci sold NFTs and virtual sneakers as early as last year, and built the metaverse concept store Vault earlier this year, aiming to seize more market opportunities.
In addition, the German high-end fashion brand Philipp Plein recently adopted the London Bond Street flagship store as a "cryptocurrency concept store".
Consumers can not only purchase products by scanning the QR code in cryptocurrency, but also enter the brand's meta-universe space at the NFT Art Museum M.O.N.A. on the second floor of the store. The project will be promoted to the remaining 100 Philipp Plein in the next two weeks A shop.
Philipp Plein himself revealed that 3% of the company's online turnover last year came from cryptocurrencies, and the number is expected to double this year.
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New Products/Co-branding/Marketing
1 Visual SecretOnly 120 Beauty Care Products
Victoria's Secret is bringing its beauty business to Amazon, including brand perfumes, lotions, body scrubs and bathing There are about 120 products including .
Image source/Victoria's Secret
Victoria's Secret Beauty Business CEO Greg Unis said the goal is to expand the product range as time goes by according to customer needs.In addition, Victoria's Secret is seeking partnerships with large retailers such as Target or department stores such as Nordstrom to provide their merchandise.
03 Capital Catcher
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Investment and financing
1 African home appliance brand MOOVED completed tens of millions of yuan in Pre-A round of financing
African home appliance company MOOVED recently completed tens of millions of yuan in Pre-A round of financing led by Puman Capital . The newly raised funds in this round will be used for product research and development, the expansion of talent teams in China and Africa, as well as brand investment and offline channels. It is reported that MOOVED completed an angel round financing in April 2021.
MOOVED was founded in 2020. It is a new home appliance brand born in Shenzhen. The company has entered the African markets such as Ghana and Côte d'Ivoire with home appliances such as TVs and audio. In 2021, the company's revenue doubled compared with 2020, with TVs and audio contributing most of its revenue.
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Acquisition
1 Itochu Commercial Acquisition Under Armour Japan General Agent
Japanese trading giant Itochu Commercial Announces the acquisition of American sports brand Under Armour Japan General Agent DOME More than half of the issued shares. After the transaction is completed DOME will become Itochu Commercial till after the transaction is completed DOME will become Itochu Commercial The shareholders of the company will be jointly operated by Itochu and Under Armour in the future.
DOME was founded in 1996 by rugby athlete Hikaru Yasuda and his teammate Yoshiaki Imato in 1998, and became the Japanese general agent of Under Armour. As of the end of last year, DOME's sales were 33.734 billion yen and its net profit was 1.114 billion yen.
2 It is said that SHEIN is interested in bidding for British fast fashion Missguided
According to British media citing people familiar with the matter, British fast fashion Missguided, headquartered in Manchester , is arousing the interest of multiple retailers and private equity giants. In addition to JD Sports, Asda, ASOS, Fraser Group, CVC and Carlyle Fund, potential buyers also have cross-border e-commerce dark horse SHEIN.
At the end of April, Missguided founder Nitin Passi announced his resignation as CEO and hired consulting company Teneo to develop new strategies to deal with increasingly changing market challenges and help the brand enter the next stage of transformation.
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IPO
1 Baiguoyuan submitted a listing application to the Hong Kong Stock Exchange
Chinese fruit retail enterprise Baiguoyuan submitted an IPO application to the Hong Kong Stock Exchange, and Morgan Stanley is the exclusive sponsor.
Image source/Visual China
Prospectus shows that Baiguoyuan ranks first among all retail companies selling fruits in China. Based on fruit retail sales, Baiguoyuan also ranks first among all fruit stores and chain stores in China, with a scale of 2.8 times that of the second place.
Baiguoyuan's revenue in 2021 was 10.29 billion yuan, an increase of 16.3% compared with 8.85 billion yuan in 2020. The gross profit in 2021 was 1.16 billion yuan, an increase of 43.2% compared with the gross profit of 810 million yuan in 2020. The latest data shows that Baiguoyuan has a total of 5,351 offline store networks, covering more than 130 cities in 22 provinces and municipalities across the country, of which 5,336 are franchise stores. The total number of members accumulated by each sales channel exceeds 67 million, and the average monthly active membership in 2021 exceeds 7 million.
4 Industry trend
1 Second-hand fashion industry "rides the wind and waves": the market is growing exponentially, and big brands are entering the market
According to the survey, the second-hand fashion market is moving at full speed towards a market size of US$77 billion, and in the next 10 years, it is expected to be 10% per year. Speed growth.
Among them, the most promising second-hand fashion markets are the US and Chinese markets, and fashion brands have come to explore the market one after another. According to the survey, 60% of Chinese people plan to increase purchases of second-hand products, while 29% tend to resell their clothing.
2 12 Hong Kong malls under Sun Hung Kai have all increased by 10% weekly during the May Day holiday
In the just past May Day holiday, Sun Hung Kai Real Estate flagship mall Hong Kong view Tang apm popular, The retail heat wave continues, and the number of people in shopping malls remains high, while the restaurant and electrical appliance industries have seen a 10% increase month-on-month increase.
Overall, the flow of people and business volume in 12 Hong Kong malls including Xindi East Port City, North Point Hui, and Sheung Shui Plaza all recorded a 10% increase compared with last week. Zhong Xiulian, acting director of
new local (sales and leasing), said that as the epidemic eases and social distancing measures are relaxed, its shopping malls have launched evening market dine-in discounts, driving the increase in merchant turnover.
Zhong Xiulian said that this weekend's Mother's Day is the first festival after the evening market reopens. In addition, the restaurant will be relaxed to one table of eight people, and together with the Buddha's birthday holiday, it is expected that citizens will go out to eat more enthusiastically to celebrate Mother's Day. He also started to buy gifts for his mother. He believed that jewelry, gold jewelry, home appliances, kitchenware and restaurants would benefit the most this weekend. The overall turnover is expected to increase by another half compared with last week's turnover.
5 Macro-section
1 Hainan will introduce high-end commercial bodies such as Taikoo Li and SKP to attract more wealthy consumers
According to the 8th Party Congress of Hainan Province representative, secretary of the Haitang District Party Committee of Sanya, modern service industry in Sanya Lu Zhenglan, secretary of the Park Working Committee, revealed that Sanya is introducing high-end shopping commercial complexes such as Hong Kong Taikoo Li, China Resources Super Vientiane City, Beijing Hualian SKP, and Shanghai Bailian to improve the comprehensive supporting level and strive to attract more international luxury brands. Establish a regional headquarters in Hainan, and gradually build Hainan into an Asia-Pacific regional center for international high-end brands, the world's largest duty-free tourism shopping market, and the world's first-class vacation and leisure tourism paradise.
Cover image source Visual China
Source Winshang.com , New York Times , CPP LUXURY, BOF, European Times, Fashion Business Daily, Gorgeous Zhi, Nikkei Chinese, Circulation News, Interface News, Caihua Club , Sina Finance, 36Kr , Wild Horse Finance, Economic Daily, China News Service , First Financial , Brand Clothing Network, Melbourne Times News, Oriental Fortune Network, China Net Real Estate, AFN Research Institute, Views Network, Australian Financial Experiences, ACB News "Australia Finance Online", Thailand "World Daily", Singapore "Straits Times", 21st Century Business Herald , hket
porter momo, Ben King, Cini, Yikara, Xingxing
typesetting Ben King
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