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Nov 14, 2024 | 
insideretail.asia | Sean Cao |Tong Van |Aron Lewin |Celene Ignacio
Hong Kong-based beauty retailer Sasa has reported double-digit declines in both sales and profit for the six months ended September 30, which management attributed to the unfavourable market conditions. The group’s turnover decreased 10.4 per cent year-on-year to HK$1.92 billion (US$246.7 million).
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Nov 14, 2024 | 
insideretail.asia | Tong Van |Aron Lewin |Celene Ignacio |Anil Prabha
Amazon.com and Ikea, in alliance with about three dozen other companies that depend on ocean freight, will invite shipping firms for the first time to bid on a contract in January to move their cargo on vessels powered by near-zero emissions e-fuels like e-methanol. The group known as the Zero Emissions Maritime Buyers Alliance wants to use the combined clout of its members, who have their own climate goals to meet, to create demand for e-fuels made with renewable electricity and carbon dioxide.
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Nov 14, 2024 | 
insideretail.asia | Celene Ignacio |Tong Van |Aron Lewin |Anil Prabha
Fashion groups Capri Holdings and Tapestry have terminated their definitive merger agreement due to the unlikelihood of receiving the required US regulatory approvals. The termination comes a month after the companies said they would appeal the US District Court for the Southern District of New York’s decision to allow the Federal Trade Commission to block the $8.5 billion merger.
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Nov 14, 2024 | 
insideretail.us | Celene Ignacio |Bhanvi Satija |Aron Lewin
Fashion groups Capri Holdings and Tapestry have terminated their definitive merger agreement due to the unlikelihood of receiving the required US regulatory approvals. The termination comes a month after the companies said they would appeal the US District Court for the Southern District of New York’s decision to allow the Federal Trade Commission to block the $8.5 billion merger.
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Nov 14, 2024 | 
insideretail.asia | Kaycee Enerva |Tong Van |Aron Lewin |Celene Ignacio
Luxury giant LVMH has made several upcoming leadership changes across its executive board, with new appointments set to take effect early next year. The shifts follow recommendations from the company’s sustainability and governance committee and reflect the company’s strategic efforts to align its leadership with the group’s growth and operational priorities. Bernard Arnault, chairman and CEO of LVMH, initiated the appointments to align with the group’s strategic vision for growth.
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Nov 14, 2024 | 
insideretail.asia | Kaycee Enerva |Tong Van |Aron Lewin |Celene Ignacio
A mixed-use development, The Peninsula Bay Project, is being developed with the aim of putting Sihanoukville, Cambodia, on the map as Southeast Asia’s luxury tourism and retail destination. Located at the seaside town of Sihanoukville, the project spans approximately 160,000sqm with a construction area of 980,000sqm and aims to bring high-end shopping, hospitality, and entertainment options to the region.
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Nov 14, 2024 | 
insideretail.co.nz | Sean Cao |Celene Ignacio |Aron Lewin |Anil Prabha
Swiss sportswear brand On has posted a “record” third quarter with sales growth exceeding expectations. The company’s net sales jumped 32.3 per cent to CHF635.8 million (US$720.5 million) for the three months ended September 30, driven by a 49.8 per cent increase in direct-to-consumer sales. The Apac region saw the biggest improvement with a 79.3 per cent sales increase during the period.
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Nov 14, 2024 | 
insideretail.co.nz | Celene Ignacio |Aron Lewin |Anil Prabha
Comvita’s store at Auckland International Airport Duty Free received high recognition at the NewZealand Retail Interiors Association Awards. The interior design studio, Blur the Lines, which designed the space, took home the Supreme Award for its work, which includes an art installation ceiling feature made of 10,000 beeswax-dipped fabric cones from Comvita’s own hives.
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Nov 14, 2024 | 
insideretail.us | Irene Dong |Celene Ignacio |Bhanvi Satija |Aron Lewin
Outdoor retailer REI has appointed Abigail Jacobs as chief marketing officer, overseeing the company’s whole marketing strategy. Jacobs will be responsible for the company’s creative, customer and member planning, marketing operations, and brand strategy. “As I got to know Abigail, I was struck by her ability to successfully marry customer-centricity and commercial performance with mission in a specialty retail environment,” said Eric Artz, REI president and CEO.
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Nov 14, 2024 | 
insideretail.us | Sean Cao |Celene Ignacio |Bhanvi Satija |Aron Lewin
Ace Hardware Corporation has reported a drop in profit for the third quarter, mainly due to higher planned expenses. The company’s net income fell from $130 million last year to $99 million, attributed to strategic investments in supply chain infrastructure and digital marketing. The reduction in profitability extended that to the second quarter when sales soared to a record high.
