Alexander Wang LLC’s Post

Prada Group, Fendi, CHANEL, Swatch Group and other international luxury brands are closing their boutiques in Russia as the war in #Ukraine enters its third year, the Ukrainian Council of Shopping Centers (UCSC) reported on April 3. Prada is leading the exodus by closing three of its Moscow outlets, including a prominent location in GUM (shopinh centre facing Red Square) reducing its presence from six stores at the start of 2024. Similarly, Fendi is set to close its doors in Moscow, not renewing leases for three locations and planning to exit its TsUM (another luxury shopping mall) boutique by Aug. 1. CHANEL's Russian operations are following suit, opting to end leases for its 17 boutiques, predominantly located in Moscow. Meanwhile, the Swatch Group has already concluded leases for 15 stores across Moscow, St. Petersburg, and other locales.  In contrast, several #luxury retailers like Gucci, Hermès, and Louis Vuitton remain operational in Russia, with impending lease expirations prompting forthcoming decisions about their presence in the country. Despite these significant exits, only 27% of foreign luxury retailers halted Russian operations post-invasion, with conglomerates such as LVMH, Kering, and Richemont maintaining leases in Russian shopping venues. This cautious approach aligns with a broader trend identified by the Kyiv School of Economics (KSE), which noted that under 10% of foreign firms have officially severed ties with Russia, highlighting a reluctance among global businesses to exit the Russian market entirely. https://lnkd.in/dJfXW9-H

Prada Group's Bold Return to Hong Kong: A Luxury Market Resurgence? Breaking News: Prada is set to open a massive 8,000-square-foot store in Hong Kong's K11 Musea, just four years after closing its flagship there. This move signals a potential shift in the luxury retail landscape. Let's break it down: ▶ Prada's new store will be its largest in Hong Kong since 2020. ▶ Luxury brands are creeping back into Hong Kong's core districts. ▶ Rents in prime locations are still 45% below 2019 levels. ▶ High-end malls are doubling down on luxury to attract wealthy shoppers. ▶ Hong Kong remains a key market, balancing mainland China's sales slump. The Bigger Picture: ▶ This move suggests renewed confidence in Hong Kong's luxury market. ▶ It highlights the importance of physical retail in the luxury sector. ▶ The focus on wealthy local residents and returning mainland tourists is clear. Questions for my Luxpreneurs: Is this the start of a broader luxury retail resurgence in Hong Kong? And more importantly, what does this mean for luxury brands' overall Asia strategy? Prada's bold move might just be the catalyst the Hong Kong luxury market needs. #TheLuxpreneur #Luxpreneur #LuxuryNews #LinkedinNews #LuxuryRetail #HongKong #PradaMove #RetailStrategy What's your take on this development? Is Prada ahead of the curve or taking a big risk? https://lnkd.in/e5vMrg29

🌐Members News 🌐 Central Department Store Group is all set to revolutionize #Bangkok’s shopping landscape with a revamped Central Chidlom this April. 💫 After a substantial investment of THB4bn (US$109mn) last year, the store went through a remarkable transformation adopting the fresh concept of ‘The Store of Bangkok.’ The new luxury, beauty, and fashion zones will open in April, while the full revamp can be expected by December. The ‘World of Luxury’ section will offer an array of prestigious global brands like BALENCIAGA, CHANEL, Gucci, and Prada Group, while the beauty centre will host products from over 150 global brands. This remodel will also mark the official start of the Group's plans to renovate several branches nationwide in the coming years. #luxury #fashion #departmentstore #retailhub #retailindustry #transformation #designer #brands #collection #global #thailand #igdsmembers #membernews #switzerland

Luxury Market News, July 9-14 Saks Acquires Neiman Marcus for $2.65 Billion Hudson's Bay Company, the owner of Saks Fifth Avenue, has announced its acquisition of Neiman Marcus Group for a total value of $2.65 billion, signaling a major consolidation in the luxury retail sector. Brioni Opens New Location in Houston Italian luxury menswear brand Brioni has opened a new store in the River Oaks District, Houston, Texas, offering a sophisticated range of men's ready-to-wear collections. Brunello Cucinelli's Stock Slide Post-Earnings Despite meeting second-quarter earnings expectations, Brunello Cucinelli's stock fell by 2.3%, signaling potential concerns for Europe's luxury goods market. LOEWE Wins at Cannes Lions Spanish luxury fashion house LOEWE, in collaboration with Japanese ceramicist studio Suna Fujita, won the Grand Prix at the Luxury & Lifestyle Cannes Lions for their innovative project. Cartier Celebrates a Century of Trinity in Singapore Cartier is marking the 100th anniversary of its iconic Trinity collection with special celebrations and a pop-up event at The Arts House in Singapore. Mulberry Appoints New CEO British luxury brand Mulberry has named Andrea Baldo, former Ganni executive, as its new chief executive, effective immediately. Alexander McQueen's New Campaign in East London Alexander McQueen unveils a new campaign focusing on the renegade glamour of East London's youth, signaling a new chapter for the British fashion house. Louis Vuitton and Timberland Collaboration A new collaboration between Louis Vuitton and Timberland will bring durable luxury to the market, with a global release scheduled for August 8, 2024. Christian Louboutin Diversifies Into Hospitality Christian Louboutin has taken a minority stake in Experimental Group, expanding his portfolio into the boutique hotel and nightlife industry. Stay updated with the latest from the world of luxury fashion and retail. Sources: Business of Fashion, Fashion United, US Fashion Network, Independent.co.uk, Vogue Business #fashionmarket #fashionnews #marketinsights #ecommerce #businessnews #ecomm #retail #luxurybrands #luxuryfashion

Physical retail continues to be paramount for fashion brands according to the findings of Cushman & Wakefield‘s inaugural European Luxury Retail report. Also according to the American real estate services firm, fashion companies accounted for more than 40 percent of retail floor space leased across Europe in the first half of 2023.

WHAT IS CHINA\'S LUXURY MAP SPREADS AS CHANEL OPENS THE FIRST BOUTIQUE IN ZHENGZHOU AND HOW DOES IT WORK? Chanel recently opened its 18th store in China, a sprawling 841-square-meter boutique in Zhengzhou's David Plaza, showcasing a full range of products. Zhengzhou's strategic location in the Central Plains Economic Zone allows Chanel to tap into an underserved market of over 10 million people. The city's GDP exceeded 1.3 trillion RMB in 2022, making it the 15th Chinese city to achieve this milestone. With recent luxury store openings by Hermès and Dior, Zhengzhou is now the 11th city to house all five top luxury brands. Despite challenges like limited employment opportunities, Zhengzhou's potential as a luxury market is significant, attracting a new wave of first-time buyers. #chanel #luxuryretail #zhengzhouopportunity https://buff.ly/41DWbF1

Luxe Brands Expand, Lease More Space Luxury watch, jewellery, fashion and apparel brands leased 600,000 square feet space in 2023, up from 230,000 sq ft in the previous year and the highest in six years, amid robust demand in the premium consumer segment. According to CBRE data, the share of luxury brands in overall leasing surged to 9% in 2023 from 3% in 2018. #realestate #property #realestatedevelopers #realestateagents #retail #retailers #luxurybrands #cbre #data #report #therealtynews #investors #investments #demand #growth #malls #higstreetretail CBRE CBRE Asia Pacific https://lnkd.in/g2AAq36H

Hermes International SCA, the French luxury giant, is expanding its presence in one of Hong Kong's most prestigious shopping malls! Amidst economic uncertainties caused by China's slowdown, Hermes' decision to invest in Hong Kong showcases the growing confidence that premium brands have in the city. But here's the best part: Hong Kong is making a remarkable comeback! Despite social unrest in 2019 and strict Covid restrictions, it regained its position as the world's top luxury spender per-capita last year, surpassing Switzerland and the United Arab Emirates. And it's not just Hermes! Other leading brands like Chanel are also expressing optimism about Hong Kong's prospects. They seized the opportunity presented by pandemic-induced rental price slumps and rented a two-floor store in Causeway Bay. Talk about seizing the moment! This renewed focus on Hong Kong by luxury brands highlights the city's resilience and attractiveness as a high-end retail hub. Hong Kong continues to demonstrate its allure to prestigious brands seeking to tap into its discerning and affluent consumer market.

When Luxury Takes a Dip: The Glitter Fades ✨ 🔻Global luxury giants are navigating the challenges of an economic slowdown and a sluggish property market, especially in key markets like China. The slowdown in luxury spending has raised key concerns about the underlying causes and potential consequences for the industry. Furthermore, global economic instability and geopolitical tensions are dampening the consumer confidence and spending power. 📈 The result? Sales are dipping, growth is stalling, and profit margins are getting squeezed. In the past months, the luxury sector has lost $200 billion in value, with Louis Vuitton-Moët-Hennessy(LVMH) taking the biggest hit, according to Reuters. 💎 Tiffany & Co., LVMH’s leading jewelry maker, is planning to downsize a flagship store of more than 12,000 square feet in Shanghai. Burberry and HUGO BOSS have also faced significant sales drops in Asia and the Americas among the other leading luxury brands. #retail #luxurybrand #slowdown

Scoop: While ZARA USA's moving out next year, these four retailers are moving IN to Union Square on Post St., including right across from Zara's longtime 26,000-square-foot store. Union Square Alliance (Business Improvement District) #retail #sanfrancisco #luxuryretail BREITLING St. John Knits ROLEX Patek Philippe news, there's at least four new deals on will be moving on from 250 Post St. next year, but four #luxury retailers are moving in along Post, including right across the street. https://lnkd.in/gdis_gDh