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.

In New York today, checking out the Lux and retail scene, and reading the excellent Financial Times Special Report on Watches and Jewellery. Interested in this article, especially as I choose independent jewellers often - and I’m doing much of 5th today and will check out the Diamond Quarter: “Independent jewellers realise potential of physical stores” by Kate Youde. https://on.ft.com/4fpfDvB New openings by jewellery makers increased 30% last year, according to property group Savills and their Global Luxury Retail 2024 Outlook, responding to two trends in luxury retail: a return to physical and personal experiences and a shift from wholesale to retail seen over the last two decades or so. https://lnkd.in/eBJN7Crt ___ #NewYorkRetail #Luxury #BagCharm #JaneBirkin #DingleDangler #FTSpecialReport #RetailTherapy #TheCPGGeek #IBMRetail #IBMConsumer #FMCG #ConsumerGoods #Retail 💙 Proud to be a #RethinkRetailTopExpert - RETHINK Retail #RethinkRetail 💙 Proud to be an #NRFRetailVoice - National Retail Federation #NRF

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

You can still get Allen's Boots in Austin, but these days you can also grab a pair of Gucci or Versace loafers! If you're into luxury goods, you might be happy to know Austin now has stores for 24 of the world's most luxurious brands. Granted, Houston and Dallas are still far ahead when it comes to high-end stores, but we're definitely getting there. #AvantResidential #AvantResidentialGroup #SusanAvant #compassaustin #compassatx #compass #luxurylifestyle #movetoaustin #atx #sellingaustinsfinestproperties #internationalrealtor #relocationspecialist #leadersinluxury #localexpert #luxuryrealestate #realm #realmglobal

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

As global luxury cools, brands are carefully shifting their retail footprint and investments in the crucial China market. First-tier cities may offer a concentrated, wealthier and fashion-savvy demographic, but lower tier locales offer less luxury saturation and thus more opportunities for creating hype and education. Balenciaga for one has begun renovations for its new store at Urumqi Mei Mei Shopping Center, marking its first boutique in Xinjiang. While the likes of Balenciaga ramp up their China expansion, other luxury players have turned more cautious. Who's found the right balance? https://lnkd.in/eYUGnSAP