What: Patrick Chalhoub explains the Group's strategy about KSA.

Why it is important: More than any other market in the region, the country has a very high potential, but also significant entry barriers.

Patrick Chalhoub, group president of Chalhoub Group, identifies Saudi Arabia as a significant opportunity for luxury retail, given its young and growing population of 27 million, most of whom are under 30. He credits the Saudi government's Vision 2030 for creating favorable conditions through rapid liberalization and modernization, which has been well-received, particularly among the youth. This societal shift is enhancing business prospects generally but presents unique challenges for the luxury sector.

Chalhoub highlights that the luxury market in Saudi hasn't expanded at the same rate as other consumer industries. Saudis now have diverse options for spending, from travel to entertainment, leading to a reduced share of luxury spending. The rapid pace of societal changes has outstripped the development of necessary retail infrastructure, posing challenges in providing genuine luxury experiences. Consequently, Chalhoub Group has opted to concentrate on enhancing the quality of service in existing stores rather than expanding further.

Additionally, the high VAT rate of 15% in Saudi Arabia, compared to about 5% in neighboring countries, coupled with superior shopping facilities elsewhere, makes it less appealing for luxury shopping. Chalhoub also mentions challenges in employee training and retention, intensified by the nationalization program requiring businesses to hire Saudi nationals.

Looking forward, the group is focusing on a full omnichannel strategy, particularly in beauty sales, which have seen significant growth online. The implementation of AI-driven hyper-personalization is a key strategy for the next five years, aiming to enhance customer loyalty and improve the overall shopping experience.

For Chalhoub Group, Saudi Arabia offers luxury potential

What: Emmanuelle Greth has been appointed as the Director of Human Resources and Sustainable Development for Galeries Lafayette, starting her role on June 4, 2024.

Why it is important: Greth's appointment highlights Galeries Lafayette's commitment to enhancing talent management, driving change within the company, and solidifying its position as a leader in committed commerce.

Galeries Lafayette has appointed Emmanuelle Greth as the new Director of Human Resources and Sustainable Development. Greth, who previously held senior HR roles at Sephora, Guerlain, and Canal+, began her new position on June 4 and joins the executive committee, reporting to General Director Nicolas Houzé. With advanced degrees in social law and human resources, Greth's mission includes supporting talent and change management, developing an attractive employer brand, and ensuring commitment to the company's transformation efforts. Galeries Lafayette operates 57 stores in France and nine international locations, with plans to open two new stores in Mumbai and New Delhi, India.

Galeries Lafayette Press Release

Galeries Lafayette appoints Emmanuelle Greth as HR and sustainable development director

What: El Confidencial reviews the recent management history at El Corte Ingles and how Marta Alavarez has managed to guide the group through the crisis.

Why it is important: As El Corte Ingles is eyeing IPO management is ever evolving in order to prepare the group for the next step.

Marta Álvarez-Guil is preparing for her renewal as the non-executive president of El Corte Inglés, five years after her initial appointment in July 2019. Despite early doubts about her management experience, she has steered the company through significant challenges, including the pandemic which threatened the very model of department stores. Contrary to predictions from consulting firms like McKinsey that department stores might disappear, companies like El Corte Inglés have rebounded, demonstrating resilience and adaptability to both physical and online retail environments.

The tenure of Álvarez-Guil has seen major restructuring and layoffs, particularly targeting about twenty unprofitable stores. Despite these challenges, the company is expected to announce historic operational results in the coming weeks, signaling a successful turnaround.

Additionally, the narrative of El Corte Inglés under Álvarez-Guil includes the departure of three significant executives: Dimas Gimeno, Jesús Nuño de la Rosa, and Víctor del Pozo, each facing varied fortunes post-departure. Gimeno is struggling with his new venture, WOW, a commercial center concept, while Nuño de la Rosa is navigating financial difficulties at Air Europa. Del Pozo has shifted to a role at MasOrange, focusing on innovation and alliances following a significant merger in the telecommunications sector.

These leadership changes reflect a broader trend of transformation within El Corte Inglés, mirroring shifts in other major companies like Inditex, which also saw leadership changes with Marta Ortega taking the helm. As Álvarez-Guil approaches the potential public listing of El Corte Inglés, she faces pressures from shareholders and must define a new executive team, signaling ongoing evolution and adaptation in her leadership approach.

Marta Alvarez-Guil is looking to be renewed as non-executive president of El Corte Inglés

What: 33,000 people will participate in the 44th El Corte Inglés La Cursa Race in Barcelona, supporting ALS research.

Why it is important: The race not only raises awareness and funds for ALS research through the Fundació Catalana d'ELA Miquel Valls but also highlights the commitment to gender equality and inclusivity in sports, with a balanced rate of female and male participants across diverse age groups.

The 44th edition of the El Corte Inglés La Cursa Race will take place this Sunday, starting at 9 am on Avenida Diagonal with the finish line at Plaza Catalunya. This annual event draws 33,000 participants and serves as a significant occasion to support ALS research and patient support, coordinated by the Fundació Catalana d'ELA Miquel Valls. The race is notable for its equal participation rates between genders and inclusivity of various age groups, reflecting its broad appeal and community engagement. Favourites for this year's podium include Xavi Tomassa, Carles Montllor, and Bilal Ziadi in the men's category, and Meritxell Soler, Cristina Silva, and Douae Ouboukir in the women's category. The event is a major fixture in the athletic calendar, celebrated for its festive and inclusive atmosphere.

33,000 people will run for ALS at the 44th El Corte Inglés La Cursa Race

What: Cem Boyner, Chairman and CEO of IADS member, Boyner Group (Boyner Büyük Mağazacılık A.Ş.), was a guest speaker at the 2024 installation of The Retail Summit that was held in Dubai this April. The Retail Summit 2024 is an event that brings together professionals and experts in the retail industry to discuss trends, insights, and innovations in retail. The summit typically includes keynote speeches, breakout sessions, panel discussions, and networking opportunities.

Why it is important: Cem Boyner was a guest speaker at the 2024 Retail Summit, representing Boyner Büyük Mağazacılık A.Ş., which is one of Turkey's largest retail chains. The Retail Summit is a annual event that brings together retail professionals and industry experts to discuss the latest trends and developments in the retail industry. Cem Boyner shared insights and experiences from his career in the retail industry during his keynote address at the summit.   Boyner Group, is a leader in the field of stores and fashion retail in Turkey with 6 group companies, more than 250 stores, e-commerce sites, mobile applications and more than 8 thousand employees. Boyner specializes in bringing multi-storey retailing, showcasing  innovative brands, and  friendly, dynamic stores to provide its customers with a unique shopping experience.

The discussions at The Retail Summit 2024 underscored a transformative era in retail, characterised by digital innovation, omnichannel operations, sustainability, and the pivotal role of Gen Z. AI was part of almost all discussions, but the future role of this technology is not clearly defined yet. The insights shared reflect a retail landscape that is increasingly becoming customer-centric, where data strategies are not just supportive elements but central to business operations. Moreover, the summit highlighted the critical role of physical stores in creating immersive consumer experiences.

Cem Boyner of Boyner Büyük Mağazacılık A.Ş. was a guest speaker at the 2024 Retail Summit

What: Manor has launched a digital version of its World Mastercard® that can be used immediately upon approval, offering a range of benefits without the wait for a physical card.

Why it is important: This innovation enhances customer convenience by providing immediate access to credit and rewards. It aligns with digital trends in financial services, offering a seamless integration with Manor's loyalty program and promoting increased customer engagement and spending.

Manor, a leading retailer, has updated its offering with the Manor World Mastercard®, now available in a digital format that customers can use right after approval. This new method eliminates the waiting period for a physical card. The card, which has no annual fee, integrates with the "myManor" loyalty program, allowing users to immediately start earning double points and accessing special offers and discounts. The application process is straightforward, done through Manor's website or mobile app, with automatic identity and credit checks by Viseca. Additionally, new cardholders can enjoy a 40% discount voucher on non-food items, enhancing the appeal of immediate sign-up and use.

Manor introduces instant Digital World Mastercard® with exclusive benefits

What: Breuninger is hosting Lemon Jelly's pool party-themed pop-ups in its Düsseldorf and Stuttgart stores, showcasing the Portuguese footwear label's SS24 collection of mules, sandals, and bags.

Why it is important: This innovative retail strategy highlights Lemon Jelly's commitment to expanding its presence in the German market, which is a top priority for the brand. The pool party concept is designed to create a memorable shopping experience, enhancing customer engagement and promoting summer-themed products.

Lemon Jelly is launching a pool party-themed pop-up at Breuninger stores, first in Düsseldorf until June 3rd, followed by Stuttgart from June 4th to 24th. The pop-ups, designed to resemble a swimming pool with yellow and blue decor, will feature the brand's SS24 collection of mules, sandals, and bags. This retail initiative aims to create a summer atmosphere and boost Lemon Jelly's presence in the German market, aligning with the brand's international growth strategy. Additionally, the shared space with other international brands is planned to enhance Lemon Jelly's profile and reach.

Breuninger hosts Lemon Jelly pool party pop-ups to enhance German market reach

What: FAO Schwarz, the iconic New York toy brand, has launched a new permanent space on the fifth floor of the Galeries Lafayette Haussmann in Paris.

Why it is important: This new addition marks a significant expansion for FAO Schwarz into the European market, further establishing its presence in a prime luxury retail destination. It enriches the shopping experience at Galeries Lafayette, already known for its extensive and diverse offerings, by bringing unique and exclusive toy brands and interactive experiences to its clientele.

Galeries Lafayette Haussmann has enhanced its children's department with the introduction of a 620 sq. meter area dedicated to FAO Schwarz. This area features the brand's signature elements like toy soldiers and a giant piano, along with toys not previously available in France. The department store's transformation includes exclusive experiences from global brands, enhancing its appeal to families and young visitors. The launch not only diversifies Galeries Lafayette's product range but also aligns with its strategy to offer distinctive, high-quality shopping experiences. This move signifies FAO Schwarz's commitment to expanding its European footprint and delivering its renowned sense of play and discovery to new audiences.

Galeries Lafayette Haussmann welcomes FAO Schwarz as new partner at their Toy section with an exclusive agreement for France

What: El Palacio de Hierro, a prominent luxury department store chain in Mexico, has enhanced its product catalog by adding four international brands.

Why it is important: This expansion reflects El Palacio de Hierro's ongoing strategy to diversify its offerings and strengthen its position in the competitive retail market.

El Palacio de Hierro has announced the introduction of four new brands to its portfolio, broadening its fashion range across both its physical stores and online platform. The French brands Le Coq Sportif and Chantelle X, alongside the English brand Hackett and the American brand Columbia, are now available at various El Palacio de Hierro locations including Coyoacán, Polanco, Santa Fe, Durango, and Interlomas. This move is part of the store's broader effort to refresh its brand mix and maintain its growth trajectory, which has seen a significant increase in net profit in the first quarter of 2024, rising by 39.5% compared to the same period last year.

El Palacio de Hierro enhances its catalog with a French double and Anglo-Saxon proposals

What: El Palacio de Hierro teams up with Chile's tourism office in order to reinforce the country's visibility.

Why it is important: an increasing number of department stores are acting at the regional level in order to be part of the touristic flows in their region. The Mall Group has led a similar activity recently.

ProChile has partnered with Palacio de Hierro, a prominent luxury department store chain in Mexico, in a significant initiative aimed at promoting Chile's tourist attractions and high-quality food offerings in Mexico. This collaboration features two strategic missions to Chile, highlighting its tourism and culinary sectors.

The first mission, focusing on tourism, took place successfully from May 12 to 21. During this period, Palacio de Hierro representatives visited key regions including Metropolitan Santiago, Valparaíso, and Los Lagos, identifying appealing destinations for Mexican tourists. Marcelo Sobarzo, the Trade Attaché of ProChile in Mexico, expressed confidence that this mission would significantly boost interest in Chilean tourism.

The second mission, scheduled for later this year, will concentrate on Chilean food products and handicrafts. It involves meetings and visits to local companies by Palacio de Hierro delegates to curate a selection of Chilean gastronomy.

In 2025, Palacio de Hierro will host the first month-long festival dedicated to a Latin American country across all its stores, showcasing selected Chilean products and promoting tourist routes. An immediate outcome of this project is the promotion of travel packages to Chile in Palacio de Hierro stores from May 15 to June 15, 2024, aiming to attract Mexican consumers to explore Chile's diverse destinations.

El Palacio de Hierro explores Chile as a way to promote inbound tourism

What: Breuninger, a family-owned fashion chain in Stuttgart, has excelled in the retail market, achieving significant growth both online and offline.

Why it is important: Breuninger's success is notable in a sector where many are struggling, showcasing how a well-executed strategy focusing on online expansion, customer loyalty, and targeted offerings can lead to substantial growth and market differentiation.

Breuninger has distinguished itself in the competitive retail market by achieving a total turnover of around €1.5 billion in 2023, up by seven percent from the previous year, with more than 50 percent of its sales generated online. This growth contrasts sharply with the broader market trends where many retailers are experiencing slower growth rates. The company has thrived due to a combination of strategies that include an early and sustained investment in online retailing, a strong focus on customer loyalty programs, and maintaining a clear focus on target groups. Breuninger has also benefited from its role as a real estate developer, further diversifying its revenue streams.

Holger Blecker, the company's CEO, emphasizes the importance of emotional engagement with customers and profitability following suit. The company plans to continue investing in future viability, including expanding its logistics capabilities. Breuninger's approach also includes a strong service orientation, which has allowed it to serve areas without physical stores effectively. The company's success factors highlighted by experts include its early commitment to online retail, a serious approach to customer loyalty programs, a clear focus on target groups, a strategic approach to regional presence, and the courage to make tough decisions about store closures when necessary. This strategic mix not only differentiates Breuninger from competitors but also positions it strongly for sustainable long-term growth.

The five pillars of Breuninger's success in the fashion retail industry

What: The Mall Group has partnered with Tellscore to promote "The Mall Life Store Bang Kapi-Bang Khae," aiming to offer a comprehensive lifestyle experience that caters to the diverse needs of families in Bangkok.

Why it is important: This collaboration underscores The Mall Group's strategy to rejuvenate its shopping centers into vibrant lifestyle hubs that blend technology, nature, and community engagement. By focusing on diverse lifestyle pillars called the "7 LIFE WONDERS," the initiative seeks to attract a broad demographic, enhance customer experiences, and foster community interaction, setting a new standard in retail and entertainment spaces.

The Mall Group's alliance with Tellscore, a prominent influencer platform, aims to transform The Mall Life Store locations in Bang Kapi and Bang Khae into key lifestyle destinations. These centers will feature specialized zones for dining, fashion, entertainment, and more, each designed to provide unique and enriching experiences. The partnership plans to leverage influencers to highlight the mall's diverse offerings, enhancing visibility and attracting visitors. Additionally, upcoming events like the Thailand Influencer Awards indicate a long-term commitment to this innovative approach, promising ongoing enhancements to consumer engagement and satisfaction.

The Mall Group partners with Tellscore to showcase "The Mall Life Store Bang Kapi-Bang Khae"

What: El Corte Inglés closes its outlet store in Barcelona.

Why it is important: the store fleet is being rationalized in a context of selected assets sales.

Barcelona's retail scene is experiencing transformative changes, highlighted by the closure of the iconic 4,500 sqm El Corte Inglés Outlet on Meridiana. Hipercor, owning the building, decided to sell the property a few months prior.

In the broader context, this closure aligns with El Corte Inglés' strategy of restructuring its physical assets in response to evolving market dynamics. This includes selling several significant properties in Barcelona, such as the Francesc Macià building, soon to reopen as 'Aura,' a high-end office space. As commercial landscapes shift, these closures reflect deeper changes in consumer habits and retail strategies.

Corte Inglés closes its Barcelona outlet store

What: El Palacio de Hierro, a prominent Mexican department store chain, reported a significant 39.5% increase in net profits for the first quarter of 2024, amounting to 515 million pesos.

Why it is important: This notable growth in profits highlights the successful implementation of El Palacio de Hierro's strategic initiatives, including the introduction of new sales channels and the application of artificial intelligence in merchandise planning. The performance not only reflects the company's strong market position but also indicates a recovery and growth in consumer spending within the retail sector in Mexico.

In the first three months of 2024, Grupo Palacio de Hierro (GPH) experienced substantial financial growth, with net profits soaring by nearly 40% to 515 million pesos and consolidated revenue rising by 7.6% to reach 11.4 billion pesos. The company attributes this success to its strategic innovations, including the launch of an 'Extended Catalog' to broaden in-store product offerings and the integration of AI to refine its merchandise distribution. Digital sales also surged by 31%, bolstered by the company's robust e-commerce and mobile platforms. Additionally, El Palacio de Hierro announced the introduction of three new brands to its fashion catalog in 2024, namely Alaïa, American Streetwear Market, and Italian jewelry brand Pasquale Bruni. These developments underscore El Palacio de Hierro's commitment to expanding its luxury and fashion segments, reinforcing its position in the competitive retail market.

El Palacio de Hierro's net profit soars by nearly 40%

What: Replay and Breuninger Expand Collaboration with 9zero1 Jeans Focus

Why it is important: This collaboration showcases the merging of vintage styles with modern retail experiences, emphasizing the enduring appeal of 90s fashion. It represents a strategic partnership between a renowned Italian jeans brand and a prominent German department store, highlighting the significance of collaborative efforts in the fashion industry to attract diverse customer demographics and celebrate individuality through timeless designs.

Replay, the Italian jeans brand, and Breuninger, the German department store, are reinforcing their alliance with a project centered around Replay's 9zero1 jeans, a staple from the '90s, alongside a new capsule collection. This initiative will be introduced in four Breuninger stores via dedicated pop-up areas, reflecting the era's essence in Munich, Stuttgart, and Freiburg. The collaboration aims to showcase the jeans' timeless design and quality in a unique shopping atmosphere. The 9zero1 model, now unisex, will be available in various washes and accompanied by a denim jacket in four styles. Highlighting the theme of diversity and individuality, the campaign features a range of personalities, including Usain Bolt and Leni Klum, to represent the brand's inclusive vision. This partnership, unfolding through specific events from March to May, marks a significant step towards a future built on cooperative relationships, making the collection accessible to a broader audience.

Breuninger and Replay strengthen their alliance

What: Ms. Aew-Suphalak Amphuch, a distinguished leader from The Mall Group in Thailand, received the prestigious World Retail Hall of Fame award at a ceremony in Paris for her transformative contributions to the global retail industry.

Why it is important: Ms. Aew's recognition is pivotal as it highlights the significant strides non-Western leaders are making in the global retail sector. Her award underscores the evolution of retail from mere transactional experiences to creating comprehensive, culturally rich shopping environments. It also points to the growing influence of Asian markets in the global luxury and retail landscape.

Ms. Aew-Suphalak Amphuch's induction into the World Retail Hall of Fame not only celebrates her success but also the broader implications for Thailand and the Asian retail market. Starting from a time when the concept of luxury was foreign in Thailand, she was instrumental in introducing luxury shopping through projects like the Emporium and Siam Paragon. Her approach to retail, focusing on creating unique experiences that blend art, culture, and commerce, has set a new standard for stores worldwide. During her acceptance speech, she touched on overcoming cultural stereotypes and her vision for enhancing Thailand's global retail presence, emphasizing tourism and high-value service industries. This event marked not only a personal achievement for Ms. Aew but also a significant milestone for Thailand in the global retail landscape.

The Mall Group's Aew-Suphalak Amphuch honored with World Retail Hall of Fame award

What: The Mall Lifestore Bangkae, a transformative shopping and lifestyle centre, officially opens in West Bangkok.

Why it is important: This new destination marks a significant addition to Bangkok's retail landscape, focusing on a diverse range of experiences across seven themed "Life Wonders." It caters to all ages and interests, featuring over 10,000 brands, ample dining options, entertainment, fashion, and a unique blend of nature within the shopping environment. The emphasis on convenience, with over 4,000 car parking spaces and easy access via Lak Song MRT, highlights The Mall Group's commitment to enhancing the shopping experience in the region.

The Mall Lifestore Bangkae, spearheaded by The Mall Group, is poised to redefine the shopping experience in West Bangkok with its "The Capital of Life Wonders" concept. Spanning over 350,000 square meters, it integrates technology and nature-inspired design to create a "Happy Place to Live Life." Highlights include a natural oasis with waterfalls, a dining hub with over 500 restaurants, an entertainment zone featuring cinemas and an "Aqua World" themed water park, fashion and beauty brands, a dedicated Japanese brand section, exciting events at the new MCC Hall, and a pet paradise. The grand opening festivities, running until April 5, 2024, offer discounts and special promotions, underscoring The Mall Lifestore Bangkae's position as a comprehensive and accessible shopping destination in Bangkok.

The Mall Lifestore Bangkae unveils new shopping wonders

What: Galeries Lafayette is hosting "Le Nouveau Cool," a series of workshops focused on sustainable fashion.

Why it is important: This event emphasizes sustainable practices within the fashion industry, promoting repair, sewing, and upcycling to encourage a more eco-friendly relationship with clothing. It also serves as an educational platform, fostering discussions on circularity and the emotional connections people have with their attire, thus aligning with broader environmental goals and consumer awareness about sustainable fashion.

"Le Nouveau Cool" at Galeries Lafayette, supported by Refashion, offers a series of engaging workshops and discussions aimed at fostering sustainable fashion practices. Held at the flagship Haussmann store and other locations across France, the event includes repair and upcycling workshops, along with "Thursday Talks" that delve into the emotional aspects of our relationship with clothes. Notable speakers such as François-Cyrille De Rendinger and Chrysoline De Gastines share insights, enhancing the dialogues around sustainable practices in the industry. These initiatives are part of a larger effort to educate and engage consumers on the importance of circular fashion, promoting a shift towards more sustainable consumption habits in the fashion sector.

Le Nouveau Cool: the more circular fashion event at Galeries Lafayette

What: Manor Geneva introduces first elements of a modernized fashion concept.

Why it is important: This initiative signifies a strategic move by Manor to elevate the shopping experience in its department stores, blending trend-driven international brands with Manor's own brand offerings. The renovation and introduction of new fashion spaces and presentation elements, such as the Fashion Pavilion, aim to create an immersive and inspiring environment for fashion enthusiasts. The facelift is part of Manor's broader plan to revamp over 20,000 square metres of fashion space across twelve major stores, underscoring the company's commitment to innovation and customer engagement in the retail sector.

Manor is embarking on a comprehensive renovation plan to modernize over 20,000 square metres of fashion space in twelve of its large department stores. The project, focused on men's and women's fashion departments, aims to enhance the overall customer experience. Manor Geneva has already unveiled first elements of the new fashion concept, offering shoppers an exceptional and Instagram-ready shopping environment that features inspiring outfits, trendy international brands, and Manor's own brand. New design areas for trends and accessories, modern presentation elements like the Fashion Pavilion, and redesigned shop windows are part of the Geneva store's facelift. The official launch of Manor's full 360-degree concept is scheduled for autumn 2024 in its Basel and Lausanne stores, promising an attractive mix of shopping and theme worlds, a refreshed brand portfolio, and the continued development of Manor's own brand.

Manor Geneva previews new fashion concept ahead of major revamp

What: Breuninger hosted the fourth annual "Fashion x Food" gourmet festival in Stuttgart, featuring 14 top chefs.

Why it is important: This event is significant as it underscores Breuninger's innovative approach to blending lifestyle sectors—fashion and gastronomy—creating a unique consumer experience that aligns with contemporary cultural trends.

Breuninger's "Fashion x Food" festival, held on the 4th floor of their Stuttgart flagship store, was a grand affair that brought together 14 renowned chefs and over 30 culinary stations to delight approximately 1,000 guests. The evening showcased a mixture of culinary delights from famous chefs like Tim Raue, Johann Lafer, and Alexander Kumptner, and fashion presentations highlighting the latest designer collections. The event also featured art installations by Berlin artist Isis-Maria Niedecken, providing interactive experiences for attendees. This festival not only catered to the taste buds but also fused fashion with food, reflecting Breuninger's commitment to creating extraordinary customer experiences.

Breuninger celebrates the "Fashion x Food" gourmet festival in Stuttgart

What: Breuninger's flagship store in Munich has been awarded the "Store of the Year 2024" by the Handelsverband Deutschland eV.

Why it is important: This award highlights Breuninger's successful transformation of its retail space into an innovative shopping and experience destination, reinforcing the significance of connected, physical retail spaces in revitalizing city centers and setting new standards in the retail industry.

During the German Retail Real Estate Congress on April 23, 2024, Breuninger's flagship store in Munich received the prestigious "Store of the Year 2024" award in the fashion category. This recognition, presented by the Handelsverband Deutschland eV, acknowledges the store's innovative design and commitment to providing a comprehensive shopping experience. The store, spanning approximately 12,500 square meters, combines fashion, lifestyle, and culinary delights to create a unique shopping environment. Key features include a personal shopping service, an in-house alteration and personalization studio, and Eduard's Bar, enhancing the customer experience by integrating gastronomy with retail. The award confirms Breuninger's effective growth strategy and dedication to enhancing the retail landscape.

Breuninger flagship store Munich is "Store of the Year 2024"

What: Dior opens a men's shop-in-shop at El Palacio de Hierro Polanco in Mexico City.

Why it is important: This launch marks a significant expansion of Dior's men's collection in Mexico, showcasing the brand's commitment to the Mexican market and strengthening its relationship with El Palacio de Hierro, a key luxury shopping destination in the city.

Dior has unveiled its fifth store in Mexico City, introducing a new men's boutique within the prestigious El Palacio de Hierro Polanco department store. This move complements the existing women's collection, illustrating Dior's strategy to cater to the luxury fashion needs of both genders in Mexico. The shop-in-shop, designed under the creative direction of Kim Jones, features the summer 2024 collection of ready-to-wear styles along with a selection of accessories. Inspired by the architectural concept of Dior's flagship in Paris by Peter Marino, the space embodies modern elegance and houses exclusive pieces, such as the Maxi Gallop backpack and Combat Derby shoes. This expansion not only strengthens Dior's footprint in Mexico City but also pays homage to the long-standing relationship between Dior and El Palacio de Hierro, a bond that dates back to 1950 and is symbolized by iconic figures like María Félix. With five stores now in Mexico City, Dior continues to solidify its presence in the Mexican luxury market, underlining the country's importance in its global strategy.

El Palacio de Hierro Polanco welcomes new Dior Men's shop-in-shop in Mexico City

What: DHIERRO is a new women's fashion brand exclusive to El Palacio de Hierro, offering high-end, minimalist designs.

Why it is important: DHIERRO marks a significant move for El Palacio de Hierro into the slow fashion industry, emphasizing artisanal craftsmanship and sustainable, high-quality materials. This launch not only enhances the luxury retailer's portfolio but also caters to the growing demand for sustainable and ethically made fashion.

DHIERRO, El Palacio de Hierro's latest brand, is capturing the attention of the fashion world with its unique blend of minimalist style and sartorial craftsmanship. Designed mainly in Europe, the brand targets modern, sophisticated women looking for contemporary cuts that highlight feminine beauty and exude confidence. The Spring Summer Collection draws inspiration from the Amalfi Coast, featuring luxurious fabrics like linen, silk, and cotton in vibrant, story-rich colors. Available across several El Palacio de Hierro locations, DHIERRO offers a variety of apparel from elegant dresses to casual wear, merging the latest trends with timeless sophistication.

Get to know the exclusive brand of El Palacio de Hierro

What: The World Retail Congress announced the induction of Jean-Paul Agon, Jay Schottenstein, and Supaluck Umpujh into its Hall of Fame. These leaders represent the pinnacle of success in the retail industry, from beauty and fashion to large-scale retail operations.

Why it is important: The induction into the World Retail Congress Hall of Fame is a significant acknowledgement of extraordinary leadership and innovation within the retail sector. Recognizing individuals like Agon, Schottenstein, and Umpujh highlights their contributions to adapting and thriving in a rapidly evolving marketplace. It also serves as an inspiration for future retail leaders to innovate and lead with resilience and agility.

Jean-Paul Agon of L'Oréal, Jay Schottenstein of American Eagle Outfitters, and Supaluck Umpujh of The Mall Group are set to be honoured at a ceremony on April 15 for their outstanding contributions to the retail industry. Each has demonstrated exceptional leadership, foresight, and an ability to navigate challenges, positioning their companies for success in a competitive landscape. Their induction is a testament to their impactful careers and the legacy they continue to build within retail. The honour places them among other prestigious Hall of Fame members, celebrating their achievements and dedication to the industry.

The Mall Group's chairwoman Supaluck Umpujh to be inducted into World Retail Congress Hall of Fame