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Billionaire Cheng family in talks with Louis Vuitton on mega Hong Kong store

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Bloomberg

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March 17, 2025

New World Development Co., the Hong Kong real estate company controlled by the billionaire Cheng family, is in talks with luxury giant Louis Vuitton to open a mega store in one of the developer’s signature malls, according to people familiar with the matter.

Louis Vuitton – Fall-Winter2025 – 2026 – Womenswear – France – Paris – ©Launchmetrics/spotlight

The new store would occupy about 40,000 square feet at the K11 Musea mall, making it one of Louis Vuitton’s largest in Asia, said the people, who asked not to be identified discussing private matters. The store could feature a museum, a cafe and a lounge for the brand’s VIP customers, they said. Details over rent remain unclear. 

Discussions are at an advanced stage, but details could still change and the deal could still fall apart, the people said. 

New World didn’t immediately respond to a request for comment. A spokesperson for LVMH declined to comment.

If an agreement is reached, the expansion of fashion conglomerate LVMH’s largest brand would inject some confidence into Hong Kong’s retail industry and help its ailing commercial property sector. It would also be a boost for New World, which has been struggling with debt woes and uncertainty over its leadership. 

Located near the city’s famous Victoria Harbor and with a fashion-forward design incorporating arts and culture elements, K11 Musea is a popular destination for tourists. Its exclusive private members clubs have also attracted a group of wealthy clientele through the Cheng family’s networks. 

LVMH’s plan to open a mega store in one of Hong Kong’s most upscale shopping malls, with significant space reserved for non-retail and VIP elements, underscores luxury brands’ efforts to wring more growth from the ultra-rich at a time when China’s economic slowdown has sapped demand for discretionary consumption among middle-class shoppers. Fashion houses are designing more unique shopping experiences to develop personal connections with customers, and are focusing more on clients less affected by the downturn.

While Hong Kong has been suffering from declining retail sales and a slow recovery in tourism, the city has the highest concentration of millionaires in the Greater China region and ranked No. 9 on a list of wealthiest cities in the world, according to a report published last year by investment migration company Henley & Partners in partnership with intelligence firm New World Wealth.

K11 Musea is accelerating its pivot to luxury shopping with Prada SpA opening a new store in the mall and other high-end labels, including LVMH’s Loewe and Kering SA’s Saint Laurent and Balenciaga upgrading their facilities. The mall also hosted Louis Vuitton’s first ever fashion show in Hong Kong in 2023. 

Facing mounting pressure over its debt burden, New World has proposed pledging some of its most-prized properties valued at a total $19.1 billion, in order to refinance its loans, Bloomberg News reported earlier this year. K11 Musea, located on a site where the Cheng family has owned properties since the 1970s, is seen as a heritage asset for the clan. The family is the center of an ongoing succession saga with patriarch Henry Cheng saying he was still looking for someone to take charge of the family business.



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Havaianas taps Gigi Hadid as new brand ambassador

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Nicola Mira

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March 18, 2025

Havaianas, the footwear brand renowned for its flip-flops, has tapped a new ambassador with a global reputation for Spring/Summer 2025, Gigi Hadid. The US top model, who has over 77 million followers on Instagram, will feature in many of Havaianas’s campaigns for next season, presenting models like the Brazil Logo and the Slim Point.

Gigi Hadid is Havaianas’s new face – DR

“Growing up at the beach, I can’t remember a time when I wasn’t wearing this summer staple. I’m excited to be working with this team, and I love that Havaianas is making a comeback. I’ll make sure that flip-flops will feature everywhere, from Paris to New York to the beach,” said Hadid in a press release.

With Hadid as ambassador, Havaianas, owned by Brazilian group Alpargatas, is keen to establish itself as a genuine fashion label.

Havaianas has sold more than 5 billion pairs of flip-flops since it was founded, and currently operates approximately 1,000 stores worldwide, in addition to its network of multibrand retailers.
 

Copyright © 2025 FashionNetwork.com All rights reserved.



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Moncler Grenoble stages high-altitude show in Courchevel

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Translated by

Nicola Mira

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March 18, 2025

Moncler Grenoble has staged a high-altitude runway show in a snow-covered setting at the French Alpine resort of Courchevel, with an array of celebrities and the label’s ambassadors as guests.

Moncler Grenoble, Fall/Winter 2025-26 – DR

The luxury down jacket label brought to the resort’s airport, the Altiport, with a runway at over 2,000 metres altitude, some 140 looks by its heritage Moncler Grenoble line, combining high performance and style in a collection designed for both the pistes and après-ski.

The show took place at sunset in a cosy atmosphere, with snow-capped mountains in the backdrop and the guests warmly enveloped in white capes, sitting in front of a horseshoe-shaped walkway. The live soundtrack was a blend of modern and classical pieces played by a symphony orchestra.

The Moncler Grenoble Fall/Winter 2025 collection challenges the convention of Alpine apparel, drawing its inspiration from the world of tailoring. It blends meticulous materials research, refined knitwear, innovative techniques and fabric treatments with sophisticated embroidery and decorations, for a sartorial-tech approach exemplified by the intricate inlays on ski suits and jackets.

Knitwear features throughout the wardrobe, from outerwear to intermediate layers, and also includes skirts with a snug texture. Some of the outfits come in tweed-like textures obtained by applying wool embroidery on patchwork fabrics in lacquered nylon. Natural and faux shearling is used for wraparound coats and to decorate collars, cuffs and handbags.

Moncler Grenoble, Fall/Winter 2025-26
Moncler Grenoble, Fall/Winter 2025-26 – DR

The collection includes some unexpected materials, like workwear-inspired denim and canvas, formalwear-style houndstooth wool, and even richly textured bouclé wool. The palette chiefly consists of neutral shades like white, beige, brown, and grey with hints of blue, brightened by flashes of red and deeper navy and black hues.

Moncler Grenoble also presented an exclusive snowboard by Whitespace, designed by snowboarding legend and global Moncler ambassador Shaun White. The board, whose innovative shape is suitable to all terrains, adds to the collection’s range of high-performance equipment.

The show was the crowning event of an Alpine weekend organised by Moncler in the picturesque Les Trois Vallées resort, the label’s guests enjoying a range of skiing, snowboarding and snowshoeing activities.

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UK social commerce set to grow and accelerate

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Reports in recent years have highlighted the increasing importance of social commerce and now a new study from next-gen delivery management platform Scurri shows just how crucial s-commerce has become for retailers’ growth strategies.

Scurri

Almost 90% of British mid-market retailers believe social commerce is “democratising the sector, levelling the playing field for SME businesses”; 83% of retailers say social commerce is the UK’s fastest growing sales channel; but 89% also identify post-purchase experience as “crucial to building consumer trust and meeting expectations for delivery speed, tracking and returns”.

The company commissioned Savanta to conduct online research of a total of 123 UK retailers, including enterprise (large-scale businesses operating in multiple markets) and mid-market firms.

And 86% of them said social commerce is changing the retail landscape in a democratic way “by allowing mid-market businesses to compete against enterprise level companies and achieve commercial success regardless of size and resource”.

But larger businesses are “increasingly learning from the strategies of founder-led and SME brands that are delivering social commerce success, with 50% of enterprise retailers agreeing that social commerce is no longer an optional feature but a key driver of growth”.

Scurri said s-commerce in the UK is predicted to more than double in the next four years, rising from £7.4 billion to almost £16 billion by 2028, representing 10% of the total e-commerce market. That’s up from 6% in 2024, and growing at four times the rate of overall e-commerce sales.

As mentioned a huge majority of retailers say social is their fastest-growing sales channel in the UK and for the next 24 months, mid-market brands identified YouTube (55%), Instagram (54%), and TikTok Shop (54%) as the drivers of strategic growth opportunities. 

Enterprise retailers are more focused on Facebook (57%), along with Instagram (48%) and TikTok Shop (48%) as they look ahead to 2027.

The research reveals mid-market brands are more active than enterprise businesses in terms of shopper engagement activities on social commerce, including activation of paid partnerships (42% vs 29%), brand customer content (48% vs 39%) and live shopping events (46% vs 24%). Enterprise level respondents are more prevalent in activating partnerships with macro (32% vs 21%) and lifestyle (47% vs 37%) influencers.

But as mentioned, regardless of business size, 89% of retailers agree post-purchase experience is crucial to building trust with consumers who have very high expectations for delivery speed, tracking and returns when purchasing via social commerce. 

Copyright © 2025 FashionNetwork.com All rights reserved.



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