What: Lafayette Gourmet onboards 7 new restaurant concepts from young and trendy chefs.

Why it is important: The new restaurant space is 1000 sqm and is located on Lafayette Gourmet's first floor, previously dedicated to home goods. This initiative shows how department stores are increasingly developing services and experiences.

Galeries Lafayette Haussmann expands its restaurant offerings 

What: El Palacio has created a new centre in Mexico City spread across five levels featuring a variety of services.

Why it is important: Located in the Mítikah shopping complex in the Coyoacán demarcation, the newest El Palacio de Hierro department store boasts shopping, restaurants, bars, cafes, a barbershop, nail salon, shoe servicing centre, tattoo studio and a children's hair salon all under a huge glass dome.

Customers are quickly converted to frequent shoppers due to the practical nature of the services provided. The architecture design was completed by Mónica Elguea and constructed by the TPG Architecture office. The building and its décor nod to the famous residents of Coyoacán in a subtle way locals are expected to appreciate.

The centre is comprised of 40,000 sq. meters across five levels with 266 spaces for brands. The Coyoacán location employs 952 people so far.

El Palacio de Hierro invests 140 million in Coyoacán

What: The Dorotheen Quartier is celebrating its fifth anniversary as a centre of retail, gastronomy, urban life and tourism for Stuttgart.

Why it is important: The Breuninger flagship, located in the Dorotheen Quartier, will celebrate the anniversary of the district through special promotions, atmospheric decoration, live musical entertainment, culinary attractions, guest speakers and more.

In addition to the main events, guests can take part in an augmented reality treasure hunt and win exclusive prizes. fYRA Collective will open a pop-up kicking off the celebration from September 30th to October 1st.

Breuninger flagship celebrates DOQU Festival

What: The new [Re]vendez ([Re]sell) will allow customers to take used clothes back to Toulouse, Nice Cap 3000, Lyon Part-Dieu, Annecy and Nantes stores. They will receive a store gift voucher in exchange.

Why it is important: After the opening of the [Re]store department in Haussmann store a year ago, Galeries Lafayette continues developing CSR initiatives, this time outside of Paris.

Galeries Lafayette's resale service in provincial stores

What: SM subsidiary 2GO demonstrates its commitment to marine preservation through coastal cleanup events.

Why it is important: Hundreds of employees across 15 sites throughout the country came together for International Coastal Cleanup Day by staging their own activities.

SM Mall of Asia also held an activity for cleanup led by SM Cares, the corporate responsibility arm of SM Prime Holdings.

SM participates in coastal cleanup

What: Galeries Lafayette has launched a retail media platform designed for its partner brands: Tailored Insights.

Why it is important: The proprietary platform will use data to analyse and customize the customer experience for use by the company's partner brands.

Galeries Lafayette is one of the first French department stores to develop an initiative of this kind at such a scale, representing another way in which the company is pushing the development of its omnichannel presence. Partner brands are now able to understand their Galeries Lafayette customers and offer them a more personalized experience along the customer journey.

The platform is collaborative and provides strategic and operational insights to better anticipate trends to design effectively, select the best product range, develop measurable marketing plans and more.

AI algorithms have been integrated into the platform to optimize Fashion and Homeware categories, reducing data processing and its carbon footprint.

Galeries Lafayette launches retail media platform

What: El Corte Inglés' Malaga location welcomes the Swedish brand Foreo specializing in skincare technology.

Why it is important: Malaga is a priority city for El Corte Inglés due to its economic business, cultural and touristic dynamism strengthening retail and promoting growth for the company.

El Corte Inglés enriches the customer experience through the dedicated space for Foreo, a 13-square-meter corner which prioritizes testing treatments and products. The brand sells a variety of beauty products and gadgets from face cleansers and massagers to toothbrushes and light therapy devices.

Foreo skincare corner at El Corte Inglés

What: Breuninger is offering customers to participate in a variety of events to kick off the autumn/winter season with an open-air runway show.

Why it is important: Together with the Kö-Bogen, the fashion retailer is inviting Düsseldorf customers to late-night shopping, promotional campaigns and DJ sounds on Friday and Saturday, September 2nd and 3rd.

Seven fashion shows with big brands will present on a 60-metre-long catwalk in front of the Düsseldorf flagship store.

Breuninger's fashion spectacle for the AW season

What: The Mall Group received a plaque for the Royal Forest Department's helper in the field of community forest promotion and development for the year 2022.

Why it is important: The Minister of Natural Resources and Environment recognizes the company's efforts to reduce its emissions to carbon neutral.

The group plans to reduce its greenhouse gas emissions by 20%- 25% by 2030 based on the Sustainable Development Goals (SDGs), development guidelines.

The Mall Group receives sustainability plaque

What: The luxury retailer SKP is stepping out of Beijing to open its first location in Southern China in another first-tier city.

Why it is important: SKP is known for running the world's most profitable mall, SKP Beijing, making its plans a likely motivator for luxury brands to move into the dormant commercial area.

The Guangzhou market has been dominated by Taikoo Hui in recent years, which brought in luxury players like Celine and Balenciaga just this year. SKP's newest venture is likely to bring even more luxury brands to the Southern Chinese region.

At the closing ceremony of the eighth Guangzhou Annual Investment Conference China and the first Global Unicorn CEO Forum, SKP's parent company Beijing Hualian Group signed the contract with the Guangzhou government to seal the deal for its plans. The government is hoping to revive the untapped retail zone. Luxury shopping malls, MixC and Taikoo Li, also unveiled plans to open malls in Guangzhou at the conference.

An opening date is yet to be revealed for SKP Guangzhou. However, SKP is set to open a southwest retail hub in Chengdu later this year as well as a location in Wuhan next year.

Chinese luxury retail giant SKP to open in Guangzhou

What: This fall, Galeries Lafayette Haussmann will host Jaiio, a second-hand resale platform, as it expands its resale operations.

Why it is important: After the 'Kids O'clock 'children's second-hand clothing and accessories sales platform finishes its pop-up shop in Galeries Lafayette, Jaiio who will open its own on the third floor of the department store.

Used clothing and accessories from well-known premium brands will be available in the space for five weeks, along with entertainment over the duration of the ephemeral space.

Content creator Emyra (@Lacrazyrevolution) will offer her dressing room for sale, while Virginie Fauconnier, one of the stylists of the TV show "Incroyables Transformations", will play the personal shopper.

Jaiio second-hand pop-up in Galeries Lafayette

What: The Mall group has advanced its sustainability initiative to support SET and continue its projects centred around protecting wildlife and planting trees.

Why it is important: The Mall organized an activity to plant trees for a forest that totalled 6,100 trees in the Ban Na Wai Community Forest.

The project is expected to reduce greenhouse gas emissions by up to 54,900 kg of carbon dioxide. Other plans based on the Mall's sustainability projects will focus on restoring watershed ecosystems to create fertile land to increase food production and generate income for communities.

The Mall Go Green project advances

What: As community restrictions are lifting and schools and offices are back face-to-face SM has seen a surge in crowds coming to stores and malls.

Why it is important: Trends have shifted in terms of consumers leaning more towards 'athleisure,' more people are biking to work in response to the trend of health and wellness trend, as well as sustainability.

SM has addressed the shift in sustainability by providing the SM Green Finds Initiative, a collection of sustainable products.

There is a resurgence of fashion, leading to more energized spending; SM has ended the second quarter with 95% of pre-pandemic sales.

Press Release: SM sees a resurgence of fashion spending

Media: SM sees a resurgence of fashion spending

What: The first half of 2022 saw strong retail performance demonstrating shopping behaviour and resilience of Filipino consumers despite economic headwinds.

Why it is important: SM malls' foot traffic increased by more than 100% over pre-pandemic levels demonstrating the strength and culture of mall shopping.

SM retail's net income grew by 91% in addition to an overall retail revenue rise of 18%. The Filipino consumer remains interested in value-shopping, which was magnified by the pandemic, yet shopping malls have gained further standing as go-to community spaces.

Delivery and technological service demands are also increasing post-pandemic, and SM works continually to adapt and meet customer needs.

SM performance demonstrates resilience of Filipino shoppers

What: The Manor Cultural Prize 2023 announces the seven winners whose exhibitions will be presented across the cantons of Switzerland next year.

Why it is important: Manor is celebrating the 40th anniversary of the contemporary art award, the Prix Culturel Manor, which highlights emerging artists in painting, sculpture, video art, photography, performance, installations and more.

Seven museums in seven different cantons have deliberated and announced the winners. The Kunstmuseum Basel selected local visual artist Gina Folly. Geneva's Museum of Modern and Contemporary Art (MAMCO) selected the artist Lou Masduraud.  In Graubünden at the Bündner Kunstmuseum in Chur, the artist Linda Semadeni was selected. The Kunstmuseum in Saint-Gall will exhibit the first solo exhibition of the artist Juliette Uzor. At the Museum zu Allerheiligen in Schaffhausen, Reto Müller was selected for the award. The Valais Art Museum in the city of Sion will host an exhibition by the artist Aurélie Strumans. Finally, the canton of Zurich's Kunst Museum Winterthur selected Jan Vorisek whose exhibition will be accompanied by the artists first publication.

In 2023, the exhibitions will be displayed across Switzerland to uplift emerging artists and enrich Swiss culture.

Manor announces 2023 Cultural Prize winners

What:  Due to increased costs, Falabella's Q2 earnings reports showed a 51.7% drop year-over-year for net profit.

Why it is important: Falabella cites margin pressures in Chile and increased expenses caused by both local and global complex scenarios having affected the net profit for the company.

Additional expenses related to the "development of capacities" across digital platforms have also contributed to the year-over-year decrease. The financial report noted currency variations as a key factor in the profit drop as well.

The company's profit for the quarter was 65.12 billion pesos (70.8 million USD), and its second-quarter net revenue grew 16.1% to 3.08 trillion pesos (3.3 billion USD). Falabella's EBITDA fell 31.7% to 245 billion pesos in the quarter, missing the Refinitiv forecast of 316 billion pesos.

Falabella Q2 reports -51.7% for net profit 

What: Alpha Southeast Asia magazine awards released its 12th Annual Institutional Investor Poll for which SM ranked in the top tiers across four categories.

Why it is important: SM won the number one placement for 'Most Organised Investor Relations' and 'Strongest Adherence to Corporate Governance' both of which the company has won in past years, its eleventh and eighth wins respectively.

The awards are based on a poll of industry votes from more than 557 investors and analysts across Southeast Asia as well as the US and Europe.  In addition to the number ranking in the previously mentioned categories, the company also ranked among the top for 'Best Senior Management IR Support' and 'Most Consistent Dividend Policy.'

The awards recognize SM's commitment and understanding of the importance of good corporate governance practices for long-term growth, sustainability and success.

SM wins 4 awards 

What: Breuninger is one of three retailers to be the first selected by COS' as part of their new wholesale strategy.

Why it is important: COS has expanded into wholesale for the first time partnering with Breuninger to expand their reach in Europe through the retailer's e-commerce platform. Breuninger will be able to improve their online range with this unique long-term partnership.

Starting in October, a selected assortment of the COS collections will be available on breuninger.com in a total of nine European markets - Germany, Austria, Switzerland, Poland, Belgium, the Netherlands, Luxembourg, Spain and Italy.

Breuninger to carry COS online

What: SM Investments Corporation has been awarded the title of 'Hall of Famer' for the category of Corporate Governance by the Asia Responsible Enterprise Awards 2022 (AREA).

Why it is important: The award recognizes SM Investments' transparency in reporting governance practices in their annual report, while also safeguarding integrity in financial reporting, promoting ethical decision making, respecting the rights of shareholders and renumerating fairly and responsibly.

AREA is the most prominent CSR recognition program across Asia initiated by Enterprise Asia. As a company that touches many different industries in the Philippines, the honour reinforces the efforts made toward CSR and sustainability by SM Investments Corporation.

SM joins Good Governance Hall of Fame

What: The Mall Group and Siam Commercial Bank celebrate the 4th anniversary of the SCB M Visa card for clients.

Why it is important: The Mall Group is celebrating a successful four-year-long partnership with SCB in which customers have been able to receive benefits from their SCB M Visa card.

In celebration, the Mall Group is rewarding customers by offering an array of discounts and promotions for card users to redeem points and win prizes.

The Mall Group celebrates 4th anniversary of SCB partnership

What: SM Investments Corporation reported its consolidated net income increased 27% to PHP25.5 billion in the January to June period from PHP20.1 billion in the same period last year.

Why it is important: Despite inflation, consumer spending across all categories and formats along with increased foot traffic as restrictions lowered led to SM Retail reporting revenues of PHP163.7 billion, an increase of 18% from PHP138.2 billion in the same period last year.

Retail net income was higher by 91%, PHP7.0 billion from PHP3.6 billion in the previous period, benefitting from cost reductions and efficiencies across all formats. Renewed interest in shopping for fashion-related items and dining out in mall restaurants increased foot traffic.

Over the past six months ending in June 2022, SM Retail and its affiliates added 147 stores. This brought the total number of stores to 3,336 (69 SM Stores, 1,543 Specialty Retail, 62 SM Supermarket, 52 SM Hypermarket, 214 Savemore, 1,320 Alfamart and 75 WalterMart stores).

Total assets were at PHP1.4 trillion. The gearing ratio stood at 39% net debt to 61% equity. In terms of net earnings, banks accounted for 48%, followed by property at 26%, retail at 20% and portfolio investments at 6%. Consolidated revenues rose 23% to PHP238.5 billion in the first half from PHP193.5 billion in the same period last year.

SM Retail reports 91% increase in net income

What: Galeries Lafayette releases a film advertisement for television and online featuring the magasin du boulevard Haussman location.

Why it is important: The commercial marks a return to television advertisements and a shift in marketing tactics.

The one-minute ad remains in line with the shorter video formats reportedly a necessary length to retain customer attention while incorporating a cinematic style of commercial advertising rarely seen today. The ad features the iconic architecture of the Galeries Lafayette grand magasin located on boulevard Haussman in Paris. The video uses darker lighting and graphic editing to create a whimsical journey through the store and e-commerce site.

Galeries Lafayette returns to TV ads

What: El Palacio de Hierro releases a film commercial with futuristic visuals to demonstrate the mindset and goals of the company.

Why it is important: As AR and VR grow, El Palacio de Hierro has released a commercial expressing their mission to be a future-forward company.

The commercial is set on a spaceship and features a man and a woman using holograms and virtual technology to try on and materialize different apparel items and accessories. Some examples include a hologram of different constellations turning into diamond earrings and a laser placing holographic eyeliner onto a woman's eyes. While the visuals are done by special effects the products are part of the real assortment of El Palacio de Hierro.

The campaign is comprised of the film advertisement and a lookbook of cool-toned images also set on the imagined space 'palace'. There are also behind-the-scenes images and a short video showing how the department store accomplished the filming of the commercial.

Finally, the campaign encourages social media interaction with the hashtag #ElFuturoEsUnPalacio which means 'The Future is a Palace.'

El Palacio de Hierro's futuristic commercial campaign

What: Lifestyle International's 2022 interim results show decreased revenue and gross sales numbers caused by continued closures in the wake of the fifth wave of COVID-19. For the period under review, the Group's total gross sales proceeds dropped by 11.7% and revenue decreased by 12.8%

Why it is important: Consumer confidence severely affected by continued health restrictions, economic contraction and labour market issues has created a daunting operation environment for Lifestyle International Holdings.

Foot traffic naturally fell because of discouraged consumers, lowering sales for the SOGO flagship and SOGO Tsim Sha Tsui. The group maintains a sober pessimism about the market in Hong Kong. And the board of directors has decided to exclude the payment of an interim dividend.

The group will continue developing omnichannel strategies with increased digital focus to respond to the changing retail landscape.

Lifestyle International Holdings hard hit by COVID