What: SM Foundation Inc. and the Fast Retailing Foundation formally launched their 'Grow Trees Community' project in Nasugbu, Batangas in September as the first of three provinces that the two foundations intend to reforest.

Why it is important: The initiative will plant and grow trees across the Philippines while creating livelihood opportunities for those in the communities with which the project interacts.

The project will address social and economic needs while also caring for the environment in a way that can enhance prospects for eco-tourism alongside community job creation.

SM and Fast Retailing Foundation's reforestation initiative

What: SM focuses on a strategic expansion plan of adding seven SM Supermarket, SM Hypermarket and Savemore stores to bring better food shopping to developing Filipino regions and communities.

Why it is important: SM is also expanding its imported offerings including adding El Corte Inglés' brand to its assortment.

SM Markets are expecting the holidays and the ongoing return to in-person work and classes post-pandemic to bring a boost to consumer spending which has already been visible in increased sales of fresh food products, snacks, beverages and school-related commodities.

SM Markets open stores in developing communities

What: Footfall in Manor stores is higher compared to 2021, but the average basket size has shrunk likely due to inflation

Why it is important: According to CEO Jérôme Gilg, the pandemic improved digital business which has become complementary to strengthening physical store performance with customers shopping online from inside stores.

10% of turnover for the Manor website is completed by sales advisers on iPads inside the physical locations. Compared to what can be housed in a traditional store, Manor.ch offers half a million items.

Post-COVID, many customers are returning to in-store shopping, but their on-site purchases are shrinking. Click & Collect is growing with 40% of online purchases picked up in-store.

Mr Gilg stated that the group will continue to invest heavily in digital technology and its partnerships with brands such as Sephora, Decathlon, Fnac, Aeschbach, etc. through dedicated spaces.

Manor basket size shrinks

What: The department store ended the period with an EBITDA of 3,919 million Mexican pesos (196.2 million euros), 1.9% times more than in the same period last year. Online sales grew 37% compared to the same period last year. The company has ended the first nine months of the year with an increase in sales of 28%, to 29,587 million Mexican pesos (1,481.3 million euros).

Why it is important: Compared to the first nine months of 2019, company revenues have increased by 26%. El Palacio de Hierro has explained that the increase in sales is due to its omnichannel strategy  and "greater dynamism on the part of the consumer". Department stores turnover growth was 14.7% in comparable stores and 17% in total stores.

El Palacio de Hierro increases its sales by 28% in the first nine months of 2022

What: Luxury is upping the game in SKP by opening private salons which are slowly becoming HNWI social clubs.

Why it is important: The trend should spread across the world as, once an individual has experienced the ultra-premium experience, accepting to be downgraded to a "normal" boutique is not acceptable. However top-end department stores should be prepared and take into account the space consumption involved in such activities: will it be possible to negotiate the commercial terms in a way which makes these sacrifices of square meters profitable?

Several luxury brands have announced the opening of private boutiques dedicated to VIP customers around the world, such as Chanel and LVMH. SKP in Beijing is a particularly coveted location to open such salons, as the most prestigious department store in the country with the highest sales numbers.

While the first one to do so was Louis Vuitton, Chanel and Dior are now following suit by opening VIP-only salons on the third floor of their boutiques. These salons are advertised as highly exclusive and generate a lot of attention from customers, although they are also invisible to the non-connoisseurs visiting the boutique.

In those salons, where new customers are not invited, experience is all that matters, as they are imagined as galleries rather than stores, or even social clubs.

Luxury brands open private salons in SKP 

What: The head of the e-commerce research department at the Cologne trade research institute EHI reports the top 1000 Germain online retailers for 2021.

Why it is important: Amazon and Otto remain the top two, however, Breuninger has broken into the top 20 as one of the 541 out of the top 1000 online stores which also had physical locations.

The 1000 largest online shops increased their sales by 16.1% to 79.9 billion euros last year and the market share of the top ten remained at 40%.

Breuninger joins top 20 list for German online retail

What: Numerous specials for visitors are available during the two-week anniversary period of Sanisbar by Breuninger's five years in the city of Stuttgart.

Why it is important: The anniversary event kicked off with an exclusive evening for invited guests and customers, offering a twelve-course menu to highlight signature dishes and the gastronomic expertise of the lifestyle location.

Breuninger celebrates 5 years of Sansibar in Stuttgart

What: The Galeries Lafayette Haussmann store will now feature the largest dedicated space within a department store in Europe to Rolex.

Why it is important: The luxuriously designed space features codes of the brand and furniture and interiors designed in Geneva to bring the embodiment of the brand into the Galeries Lafayette Paris Haussmann location.

The space is accessible from the first floor or the ground floor and features a watchmaker's workshop where various operations guaranteeing Rolex quality will take place.

The 250-square-meter is decorated with Alpi Verde marble and walnut lath ceilings. On the ground floor, customers are greeted by a fluted travertine and brushed bronzed brass entrance.

Galeries Lafayette dedicates largest exclusive space to Rolex

What: Breuninger becomes the official outfitter for the Bundesliga club FC Bayern Basketball and thus equips coaching staff, team and club officials with both formal and casual looks with a signed contract set for two years.

Why it is important: The sponsoring package includes, among other things, the presence on advertising boards at all home games. In addition, there are advertisements and commercials in the club media, other promotional opportunities for the club and an extensive hospitality contingent.

Breuninger partners with FC Bayern Basketball

What: Manor celebrates its 120th anniversary by partnering with Swiss designer Yael Andrews and launching their very first capsule collection in fashion, home and stationery as well as a one-of-a-kind NFT collection.

Why it is important: The capsule collection reflects the values and DNA of Manor: exclusivity, innovation and creativity, while the NFT collection opens up new paths in the metaverse through a community-based approach linked by tokens.

The young designer drew her inspiration from the old Manor logos, the original names of the Manor department stores as well as from the sites spread throughout Switzerland to create an original collection for the fashion, home and stationery departments. The NFT collection was launched as a complement to reinforcing the innovative and exclusive aspect of this collaboration.

Manor's very first capsule and NFT collections

What: As part of El Corte Inglés' divestment process, the group has sold its property in Portal de l'Àngel to Redevco Iberian Ventures.

Why it is important: El Corte Inglés is focusing on the most profitable complexes as part of its strategic plan to divest part of its portfolio, including the Titania tower in Madrid as well as several non-commercial assets.

The joint real estate venture by Redevco Iberian Ventures aims to transform the Portal de l'Àngel complex into a mixed-use building by investing around 200 million euros to create commercial floors and offices.

El Corte Inglés sells Portal de l'Àngel centre 

What: Juan Carlos Escribano, CEO of El Palacio de Hierro, shares his experiences as Spanish director for the Mexican luxury department store and how this has influenced his views on the future success of this retail format.

Why it is important: As crisis looms over many countries, the effects will vary from location to location based on their respective interdependence, according to the CEO.

The interview demonstrated Escribano's perceived importance of specialisation and scale, along with the ability to execute projects and improvise when facing unexpected issues. He cites the recent EPH Coyoacán store as an example of execution and improvisation as there were two earthquakes that damaged the AC and elevators one week before the opening, yet the department store still managed to fix everything before the deadline.

International experience and age have also taught him that a strong team is more important than being individualistic. According to Escribano, fashion retail is both a mathematical and scientific execution through study, Excel and programming applications combined with an uncanny eye for operations, something that cannot be learned in school. Both factors contribute to what can be described as magical success for department stores.

For years, the El Palacio de Hierro CEO has been warning of the death of department stores. His reasoning highlights the elimination of home, technology, and F&B offerings; the disappearance of which has caused department stores to turn into fashion stores. On top of this, many department stores have over-expanded by opening too many locations which Escribano believes leads to dilution and a lack of consistent standards. This is a critical point to miss when clients are looking for a perfect service that encourages them to return and spend time in-store, or even online. As well, other luxury department stores now have more outlet locations than their full-priced stores which confuses the main mission of the company.

Department stores can be competitive by having anything from a gym to a barber shop to keep people in the store and having a great time. Of course, Escribano puts a caveat on this advice by noting that a department store can't be everything and that the company must choose in which area they will specialize to dominate that particular niche (i.e. cheapest, biggest, etc.).

His advice for all companies is that ownership and management do not mix.

El Palacio de Hierro CEO speaks on the future of department stores

What: Two credit agencies, Fitch Rating and HR Rating, have awarded El Palacio de Hierro a AAA rating following the close of a 102 million euros bond issue with a three-year maturity.

Why it is important: As part of a larger refinancing plan, the department store group will use the capital to improve the profile of its debt and investment plan.

The credit agencies have deemed the bond issue stable due to El Palacio de Hierro's diversification of business and the stability in its operating cash flows. As well, the agencies highlighted the department store group's success with commercial strategies for maintaining its market positioning.

The resources obtained will be used to refinance another bond of 51 million euros due in 2023. In addition, investment in digital technologies has been mentioned following a registered 31% increase in digital sales in the first half of 2022.

El Palacio de Hierro receives AAA credit rating 

What: After launching its online shop in Poland a year ago, Breuningerr has expanded its online business to Belgium, the Netherlands, Luxembourg, Spain, Italy, and now the Czech Republic.

Why it is important: Breuninger continues to open new markets through store openings and expanding its online business with the addition of six countries just this year.

The online shop is structured in the same format as its existing online shops in the Czech language with a usual Breuninger standard product range. Delivery to the Czech Republic is expected to be between three and five days.

Breuninger opens online shop for the Czech Republic

What: Breuninger won over the Porsche company gaining the automotive company's tenancy in the Dorotheen Quartier and opening the first Porsche brand store.

Why it is important: Porsche's first brand store settles in beside other quality retailers, reinforcing the history of the area and bringing its values of innovation and visionary concepts to the inspiring real estate district; thanks to Breuninger.

Breuninger continues to deliver quality retail experiences for the Stuttgart residents and tourists by influencing the development of Dorotheen Quartier's offerings.

Breuninger brings first Porsche store to DOQU

What: SM is committed to supporting women in its effort to be a more inclusive company that welcomes diversity.

Why it is important: SM Investments appointed Ms Elizabeth Anne "Lizanne" C. Uychaco as the company's first Group Diversity Officer following its official support of female empowerment after signing the UN Global Compact Women Empowerment Principles in March 2021.

Ms Uychaco is currently the Senior Vice President for Corporate Services at SM and sits as a director in various SM companies such as Belle Corporation, NEO, Goldilocks Bakeshop, Inc., Brownies Unlimited, Inc., ACE Hardware Philippines, Inc., Philippines Urban Living Solutions and more.

SM strives to empower women, which can be seen through its workforce comprising 63% of women. As well, 58% of its female workers hold senior leadership positions. SM believes that having a mix of individuals with diverse backgrounds and skill sets will always improve business and better support the communities it serves.

Ms Uychaco also leads the Felicidad Sy Sunshine Place which offers comprehensive and enriching programs for seniors.

SM's diversity and inclusion milestones

What: El Corte Inglés sealed two long-term solar energy purchase contracts that will reduce the cost of its electricity bill by up to 30%.

Why it is important: Despite already using 100% renewable energy, their purchase of solar will both reduce the cost of electricity as well as prevent the emission of an estimated 215,000 tons of CO2 for El Corte Inglés.

This will also cover 40% of the group's annual electricity consumption. El Corte Inglés aims to generate zero waste in all its subsidiaries by 2025.

El Corte Inglés seals deal to reduce electricity bill

What: Magasin du Nord has repurchased 4 of its most strategic stores.

Why it is important: Controlling the real estate is the best way to be prepared for future potential crisis, as Magasin du Nord is not rent-dependent anymore.

Magasin du Nord has repurchased four stores to ATP and PensionDanmark pension funds, including the Kongens Nytorv flagship store in Copenhagen, but also the Lyngy, Aarhus and Odense stores, which are the most performing ones.

They have been rented by the retailer for the last 10 years and are now fully controlled by Magasin du Nord, which sees this transaction as a way to regain control of their own future.

Magasin du Nord buys back its stores 

What: Galeries Lafayette hosts a René Magritte-themed pop-up for Tory Burch on display in-store and across three windows.

Why it is important: Galeries Lafayette showcases the T Monogram collection, including exclusive pieces for the department store. Along with the installation of the collection's blue sky-covered podiums, the Tory Burch T Monogram is also featured on the billboard above Galeries Lafayette and on its website and social media.

Galeries Lafayette welcomes Tory Burch pop-up

What: Inuikii, a Swiss shoe brand, will be hosted for the first time in Germany for a pop-up in Breuninger's Düsseldorf flagship.

Why it is important: Breuninger will be the launch pad for Inuikii to unveil its new ready-to-wear collection during the pop-up event which will include a DJ and art installation.

From now until 7 November, Breuninger's basement will house a variety of new and classic Inuikii styles.

Breuninger opens first Inuikii pop-up

What: Galeries Lafayette has become the official partner of the Galeries Émergentes sector at the first edition of Paris+ par Art Basel to support and boost the visibility of 16 galleries.

Why it is important: Galeries Lafayette shows their 120-year commitment to enabling creatives by promoting contemporary design at the French capital's important upcoming cultural event for the first edition of Art Basel's Paris+.

As well, the department store group's corporate foundation, Lafayette Anticipations, will present a new exhibition visible at both the Foundation and Palais de Tokyo. Lafayette Anticipations will also select an artist to support the realisation of a new piece of work that will then be presented at the Foundation during Paris+ by Art Basel next year. The artist will be chosen by qualified professionals from the art world.

In addition to its event-related activities, Galeries Lafayette will involve stores including hosting a large piece by Yngve Holen in the atrium of the Champs-Elysées location.

The event will take place from 20 to 23 October 2022 at the Grand Palais Ephémère.

Galeries Lafayette to support 16 galleries at Paris+ by Art Basel

What: The new offerings will be available on manor.ch as well as in 5 shop-in-shops in Manor department stores.

Why it is important: The partnership will allow Manor to expand its brand offerings (including Nike, Vans, UGG, Dr. Martens, Hugo Boss, Timberland, Geox, Clarks) and benefit from Aeschbach's established reputation in Switzerland.

Manor customers will benefit from a considerable expansion of the online assortment on manor.ch (via the marketplace) with a vast choice of shoes for women, men and children and by 5 Aeschbach shop-in-shops in Basel, Geneva, Lausanne, Lugano and Vevey.

The Aeschbach company currently has 15 own points of sale and offers more than 3,000 new products a year in the categories of shoes, fashion accessories and clothing for women, men and children.

From the second quarter of 2023, 5 new shop-in-shops will open in Manor stores.

Manor partners with footwear retailer Aeschbach

What: The agreement allows the Spanish company to take advantage of the global e-commerce network to boost its expansion in Russia and Central European countries;

Why it is important: El Corte Inglés and AliExpress have taken a new step in their alliance by reaching an agreement that will allow the Group's international expansion in Russia, Poland and Central Europe and will boost online sales in these markets.

In this way, El Corte Inglés strengthens its alliance with AliExpress by incorporating six new fashion brands that are sold through the Alibaba Group marketplace. Unit, one of the six brands, has become very popular among younger customers, positioning itself among the favorite brands of AliExpress users in Spain.

Alibaba will use the logistics infrastructure of El Corte Inglés.

Eduardo Sotillos , Director of Purchasing at El Corte Inglés, explains that "we have always worked to offer customers the best quality in products and services. The collaboration with AliExpress is a lever to boost online sales, and especially the expansion in the international market. For its part, AliExpress will be able to take advantage of our logistics infrastructure in Spain."

El Corte Inglés strengthens its alliance with AliExpress

What: The biggest Swiss department store company is celebrating its 120th anniversary this October by offering clients special collections and products, prizes and promotions, a metaverse experience and an NFT series.

Why it is important: Manor's 120th-anniversary celebration, taking place from the 7th of October to the 23rd, taps into its heritage as a contributor to Swiss culture and experience through offering prizes, promotions, limited edition products and NFTs created in collaboration with Swiss designers.

For its dive into the Metaverse, Manor has partnered with Swiss designer, Yael Anders, to launch an NFT series available online and in-store. Yael Anders is known for his physical sculptures which have been adapted to a digital format in collaboration with VARY AG to create a collection of art videos. The limited run of NFTs is also intended to show Manor's commitment to innovation and the support of Swiss creators.

With 59 department stores, 27 supermarkets and 24 restaurants, Manor brings Switzerland unique experiences and exclusive brands in everything from services and F&B to luxury apparel and electronics. Its partnerships with brands like Fnac, Decathlon, Sephora and LEGO have enriched the customer experience over the years.

Manor has also recently celebrated the 40Th anniversary of the Manor Cultural Prize which will showcase seven Swiss artists in different museums across the country.

Manor celebrates 120 years of business