What: The Mall Group is rebranding The Mall to the The Mall Life Store and making its Bangkapi and Bang Khae stores a flagship landmark.

Why it is important: The Bangkapi and Bangkhae stores will support the strategic plans to develop the areas into commercial and residential areas of Bangkok.

The transformation of the stores are part of a development plan in Bangkok to raise the quality of life of urban people and meet the needs of every generation.

The new look and rebranding of the stores will be completed in December.

The Mall Group transforms The Mall Life Store Bangkapi and Bang Khae

What: The Mall Group is resuming the expansion of its Gourmet Market branches after being put on hold for three years due to the impact of the pandemic.

Why it is important: The group is ready to move forward with opening more locations as consumer spending recovers.

The sales of all Gourmet Market branches have recovered by 80 to 90% in the first four months of the year and have also shown double-digit growth in comparison to the same period last year.

The company invested THB 100 million to open a stand-alone branch at Design Village Bangna, which will cover more than 2,500 square meters and offer more than 30,000 premium products and fresh food.

The new location looks to target families and foreigners living in Bang Na district, which is one of the most lucrative areas, as well as tourists due to the store's proximity to the airport.

The Mall Group has plans to open one to two more locations this year as well as the renovations of two existing branches.  Additionally, the company has 10 locations set aside for future openings.

Gourmet Market expansion back on track

What: The company has come up with multiple initiatives that will be developed throughout the year to celebrate the 40th year of Club del Gourmet.

Why it is important: The initiatives will reflect the unique and innovative concept of Club del Gourmet with exclusive and special edition products.

Club del Gourmet was created in 1982, making the company a pioneer and benchmark in haute cuisine as it launched an innovative concept that brought together a delicatessen, groceries, confectionery, winery, and a small bar.

Throughout the years, the company has partnered with nearly 1,000 prestigious national and international suppliers to offer more than 4,000 products.

Club del Gourmet has undergone different image changes, adapting to current trends but always focusing on excellence and variety and with a strict and careful selection of haute cuisine products.

Among the initiative proposed to celebrate the 40 year anniversary are agreements with suppliers and special editions of the most iconic products of its offering.

 El Corte Inglés celebrates the 40th anniversary of Club del Gourmet with new products and initiatives

What: The Société des Grand Magasins (SGM) has obtained a loan from a French banking network to ensure most of the acquisition of the Parisian department store and its branch in Parly 2.

Why it is important: The finalization of the takeover is becoming clearer as the group also received approval from the Competition Authority.

SGM obtained a loan on May 26, allowing it to provide most of the financing for the acquisition.

The group also obtained approval from the Competition Authority for this operation and received the favourable opinion of the representatives of the BHV staff.

SGM group obtains its financing and the authorization to acquire BHV

What: A press article about the fact that, while Galeries Lafayette are moving forward in China, their French partner is in deep trouble.

Why it is important: Strategic choices have been made by the French leader to focus on external markets, however, the damage control will be hard to make in case Hermione falls down, and might affect the group's reputation.

While Galeries Lafayette forms a partnership with a new Chinese partner, Hopson Group, the safeguarding procedure for 26 major stores in France raises questions about the company's attractiveness at the national level.

In China, the joint venture aims to open 10 major stores by 2025, with three more planned in Shenzhen, Chongqing, and Macao by December.

In France, an update occurred on April 19 at the Bordeaux Commercial Court after 25 major provincial stores were placed under a safeguard procedure in late February. These stores have been managed by HPB, the retail branch of Michel Ohayon's group, since 2018. The safeguard procedure allowed the cancellation of debts, including €40 million in merchandise, but requires continued payments to suppliers. Michel Ohayon's plan foresees repaying €700,000 per month starting in March 2024, which seems high to some employees. They worry about generating more profit in 2024 than in 2019, before the Covid pandemic.

With four months left to find buyers, the potential takeover of these stores raises concerns due to the size of the assets, required maintenance, and the low attractiveness of some locations. The situation becomes a national issue as it affects the attractiveness of 26 city centers across the country.

Galeries Lafayette in two opposite dynamics in China and France 

What: The group supports the Environment Office Bangkok by cleaning the area and improving the landscape at Benjasiri Park.

Why it is important: The Mall Group's participation in the event demonstrates their commitment to their community and the environment.

The event was presided over by the Governor of Bangkok, along with the Vice Chairman of The Mall Group, Khun Krisana Ampuch with management and staff also participating in the event.

The event included the renovation of bathrooms, door and fence repairs, CCTV inspections, and many other improvements to make the park a safe and convenient place for people to enjoy and relax.

The Mall Group participates in the Big Cleaning event at Benjasiri Park in Bangkok

What: Dior has opened a 200 square meter shop-in-shop inside El Palacio de Hierro's Monterrey location.

Why it is important: The store is the house's first location in the northern region of the country and pays homage to the ties between the brand and the country.

The boutique is located behind a façade featuring Dior's signature cannage with natural tones contrasted by wood and raffia furniture. The minimalist décor is reflective of excellence and uniqueness of Mexican craftsmanship, featuring walls that are made of traditional local material.

The space only features womenswear, but offers an exclusive selection of ready-to-wear clothing, footwear, accessories, jewelry, and handbags.

Dior opens at El Palacio de Hierro Monterrey

What: According to the annual ranking of Spanish 100 Brands, El Corte Inglés is the third most valuable brand in Spain and leads the distribution sector.

Why it is important: The department store company has a brand value of EUR 6,063 million, which represents a growth indicator of 16.05% compared to 2021.

El Corte Inglés follows Banco Santander who ranked first and Zara who ranked second.

Ten other fashion brands were included in the ranking, with fashion being the second most valuable sector of 2022, accounting for EUR 17,850 million of the country's total value.

El Corte Inglés among the most valuable companies in Spain 

What: A new manager is taking over Hermione People & Brands, the company who oversees 26 Galeries Lafayette department stores.

Why it is important: The turnaround specialist, Michel Maire, joins HPB as it was placed under a safeguard procedure in February.

Michel Maire has been appointed CEO, replacing Eric Damrion who retired after working for the company for five years.

The Galeries Lafayette stores operated under HPB are located across multiple French regions and employ 1,109 people.

The Galeries Lafayette shops managed by HPB are now managed by Michel Maire

What: The Mexican department store group has ended the first quarter with a sales growth of 18%, doubling its profit and reporting a turnover of 585 million dollars, representing a compound growth of 33% compared to 2022.

Why it is important: The positive first quarter results indicate that EL Palacio de Hierro has overcome the blow of the pandemic as the department store group's net profit jumped 106%, doubling that of the previous year.

Net profit jumped 106% to almost 19 million dollars and operating flow increased 36% to 71 million dollars.

The group's digital sales also reported a growth of 35% compared to the first quarter of 2022.

El Palacio de Hierro increases sales by 18% and doubles its profit in the first quarter

What: Karine Viel becomes director of sustainable development and will report to Frédérique Chemaly, director of human resources and CSR for the group.

Why it is important: Galeries Lafayette will pursue its sustainable efforts with its Go for Good label which is set to account for more than a quarter of the total Galeries Lafayette offer in 2024.

Karine Viel, a graduate of HEC, made her marketing debut in the coffee and chocolate industry with the giant Kraft Foods in France for about ten years, before joining Comité 21, a structure that disseminates expertise on issues of social and environmental responsibility in large companies and administrations. This CSR expertise brought her to Monoprix from 2012. She developed the responsible offer and worked on diversity issues and environmental footprint.

On its side, Damien Pellé becomes SMCP group's CSR and corporate communication director.

Galeries Lafayette has a new director of sustainable development

What: The company has launched a themed Star Wars space at its Sanchinarro location in Madrid where customers can enjoy activities and share their passion for the saga.

Why it is important: The event is a way to attract customers into the store with different activities and a special discount on Star Wars merchandise.

El Corte Inglés Sanchinarro will be hosting a Star Wars event from May 4th to May 7th to celebrate May the 4th, international Star Wars Day.

The space includes a recreation of a Star Wars ship, an artistic area for coloring, and a gaming area where fans can play video games. A parade will also take place with surprise characters and a special 20% discount will be applied to the entire line of Star Wars merchandise on May 4th.

El Corte Inglés creates a Star Wars space in Madrid to celebrate international Star Wars Day

What: The department store has partnered with Hideout, a company that specializes in exclusive sneakers, to host a basketball challenge in front of its Lausanne supermarket.

Why it is important: The event is a creative way for the department store to attract customers and build community.

Manor and Hideout will be giving away a pair of exclusive sneakers to every participant who makes a basket from a distance of 18 meters.

A DJ will host the afternoon and drinks will be provided by Manor Food and Manora Restaurant.

The event is organized in partnership with the Swiss Basketball Federation, Swiss Baksetball, who has provided the approved basket.

Manor partners with Hideout to host a challenge in Lausanne

What: Burberry debuted its new global store format in Mexico with the renovation of its store at El Palacio de Hierro Polanco.

Why it is important: The opening of the store marked the debut of the new concept in Latin America, making El Palacio de Hierro the first in the region to have the updated format.

The new concept features checkerboard mosaics, glossy white finishes, as well as glass and mirrors that reflect the natural light from outside, creating a bright atmosphere that imitates a gallery.

The opening included the arrival of the summer 2023 collection, which features women's ready-to-wear garments as well bags, footwear, and other accessories designed by Ricardo Tisci.

Daniel Lee's first installment, set to take place in the autumn-winter season will arrive in Mexico at the second half of the year according to Burberry's country manager in Mexico.

Burberry premieres its new global store concept in Mexico at El Palacio de Hierro

What: Merlin Properties has closed the purchase of the commercial space of El Corte Inglés in Marineda City.

Why it is important: El Corte Inglés will close the center which spans a total commercial area of 45,000 square meters and Merlin will become the sole owner of the shopping center.

El Corte Inglés sells its center in Marineda City 

What: El Corte Ingles' home department has launched a new catalog with four new collections centered around the theme "Our favorite place, your home."

Why it is important: The new catalog is committed to quality, variety, sustainability, as well as manufacturing in Spain and Portugal.

The four new collections featured in the Decora catalog include differing decoration styles. Flowers Conquer Your House is romantic and fresh, including floral and geometric prints with pops of color. Contrast Game is more modern, inspired by the 80s with intense and primary colors combined with black and white. The Inner Garden collection is tropical-inspired with bright colors and prints in green tones while the Life in Calm collection features warm, neutral tones with simple lines and vintage pieces.

Products range from a variety of furniture and decorative objects to air fresheners and textiles as well as tableware, kitchenware, and lighting.

El Corte Inglés Home presents its 'Decora' catalog with four new collections for this season

What: Galeries Lafayette is scaling up its ambitions for the Chinese market, forming a joint venture with Hopson Group, a major listed property firm in south-eastern China.

Why it is important: The alliance will accelerate the roll-out of the Galeries Lafayette brand in China, with plans to open 10 new stores by 2025 and strengthen the group's digital presence as part of an omnichannel approach.

As China gradually reopens, Galeries Lafayette is initiating a new phase in its Chinese growth through this strategic partnership. The partnership will come into effect over the next few weeks, with both parties holding equal shares and voting rights in the joint venture.

Collaboratively, the two partners will explore a new model for the development of China's high-end retail industry, creating a major retailer that is capable of responding to generational trends and has the strong potential for growth in domestic consumption between now and 2030.

Galeries Lafayette will leverage Hopson Group's property portfolio, expertise in high-end urban complexities and shopping centres, and its knowledge of the Chinese market while the Hopson Group can benefit from Galeries Lafayette's strong identity and fashion and luxury expertise.

The group is celebrating the 10-year anniversary of its Beijing store, with plans to open three more locations in Shenzhen, Chongqing, and Macau this year.

Galeries Lafayette forms a joint venture with Hopson Group to initiate a new deployment phase in China

What: SM received Platinum Awards for excellence in corporate sustainability from The Asset, a Hong-Kong based multimedia company.

Why it is important: This is the company's 14th consecutive year receiving the award which recognizes its commitment to environmental, social and governance excellence.

SM receives highest honors from Hong Kong magazine

What: The SM Group was named the Manila Bulletin UPLIFT 2023 Awardee for Big Business for their contributions to improving the lives of Filipinos.

Why it is important: SM Groups continues to uplift and support its communities and customers through its recent initiatives.

The group was recognized for its initiatives regarding a countrywide climate action plan, signing up as a supporter of the United Nations Global Women Empowerment Principles, and its partnership with UNIQLO Foundation to plant at least 200,000 trees and create livelihood opportunities.

SM Group receives Manila Bulletin's UPLIFT 2023 Awards for Big Business

What: The Mall Group won the award Top Influential Brands, as the top brand with the highest influence on consumers in 2022 in the department store category and the Outstanding Leadership Award for Brand Management.

Why it is important: The awards reinforce the success of The Mall Group's business operations, making them a leading shopping centre and department store group in the Asian retail industry

The award ceremony is considered the biggest of the year, with six countries across Asia participating for the 10th year. The awards are held in collaboration with Influential Brands CO., Ltd., and Neo Target Company Limited.

The awards involve an intensive evaluation and selection criteria by the management at Influential Brands, making it an honor and pride to be selected. Research is also conducted from more than 1,000 consumers' voices across all industries ranging from ages 24-39. The results are made available between June and July, encouraging brands to improve and develop in various dimensions.

The Mall Group wins 2 major awards from the 2022 Asia Influential Brands Awards 

What: The department store group has achieved an operating profit of 1.03 billion euros in the 2022 financial year.

Why it is important: The operating result increased 20% compared to the 800 million euros reached the previous year and exceeded pre-pandemic levels.

The results were driven by the return of tourism as well as the group's fashion business which saw the highest margin.

El Corte Inglés has obtained a net profit without extraordinary items higher than the EUR 310 million it obtained in the 2019 financial year. The figure is almost three times the EUR 120 million in capital gains earned the previous year.

The department store group closed last year with a total net profit close to 1 billion euros, when accounting for the income obtained from the agreement with Mutua Madrileña who bought 50% of the group's insurance and wealth business for EUR 550 million and acquired 8% of the holding company's treasury stock for 555 million euros.

In 2021, El Corte Inglés ended the year with revenues of 12.507 million euros and again in profit. By the first quarter of 2022, it had already returned to pre-covid sales volumes.

The company renewed its leadership in 2022 by dividing management functions and is currently in the process of restructuring its workforce.

El Corte Inglés registers an EBITDA of more than 1 billion euros in 2022

What: Galeries Lafayette has reopened its Paris Haussmann Welcome & Shopping Center dedicated to Asian tourists and customers.

Why it is important: Galeries Lafeyette aims to offer a unique and unforgettable shopping experience to Asian tourists and customers.

They are also hiring for team members to support the store, including 4 managers and 7 customer service advisors.

Galeries Lafayette reopens Welcome & Shopping Center for Asian tourists

What: Breuninger hosted its Fashion x Food culinary event for around 1,000 guests at its Stuttgart flagship.

Why it is important: The department store is offering its customers unique experiences and unforgettable moments that demonstrate its commitment to providing unique service and excellent product quality.

At the event, guests experienced a unique combination of enjoyment, table culture, and lifestyle in addition to culinary highlights by top chefs, including nine-star chefs.

Various interpretations of gourmet dishes were served at over 24 stations from top chefs and local culinary artists.

Breuninger allows customers to experience a combination of exclusive events, excellent service, and attractive product quality through its lifestyle and fashion offering as well as its restaurants, cafés, and bars.

Breuninger hosts a gourmet evening in a class of its own

What: The final amount that El Corte Inglés paid for the acquisition of half of its stores has risen to EUR 500 million, including compensation and interest.

Why it is important: With this transaction, the department store group acquired 4.2 million shares, which meant 5.53% of the group's capital, half of the 10.33% that AI Thani came to own.

El Corte Inglés repurchased half of its shares in the group from Qatari investor Al Thani in 2022. The operation was originally valued at EUR 385 million, but the final amount has increased to EUR 500 million to include compensation and interest.

EUR 115 million has been added to the price, mostly as compensation to Primefin, the Luxembourg company through which Al Thani owned shares, after granting a loan of EUR 1 billion to El Corte Inglés in 2015.

El Corte Inglés paid EUR 500 million for the acquisition of half of Al Thani's shares