Member News
The Mall's "Help Thailand fight" project
The Mall's "Help Thailand fight" project
What: The retailer is catering to people affected by the Covid crisis.
Why is it important: After participating in the Covid vaccination efforts, The Mall commits in helping the ones in need.
Five thousand food bags were distributed to communities around The Mall Bangkae, Bangkapi, Tha Phra, The Mall Life Store Ngamwongwan and The Mall Korat.
Falabella's sustainability efforts in Chile and Peru
Falabella's sustainability efforts in Chile and Peru
What: The Chilean retailer continues to optimize its sustainable strategy and confirms that it will supply 151 facilities in Chile and 93 in Peru with 100% renewable energy.
Why is it important: These contracts will begin during the first half of 2022 and will supply most of the demand at premises operated by Falabella Retail, Sodimac, Tottus, Ikea, Open Plaza and Mall Plaza.
The company highlights that this is one of the most important negotiations of electricity supply contracts within the year 2021 and involves the reduction of around 261,000 tons of carbon dioxide (CO2) per year.
It includes an electro-mobility agreement with Enel X in Chile, which involves setting up and operating charging centres for electric vehicles at stores, malls and distribution centres throughout the country. Customers and logistics operators will then be able to charge their vehicles at Falabella group premises.
Falabella premises in Chile and Peru will be supplied with renewable energy
The Mall Group supports healthcare workers
The Mall Group supports healthcare workers
What : The retailer continues to support healthcare workers by providing ventilators and medical equipment to 5 hospitals.
Why is it important : After participating in the Covid vaccination efforts and helping the ones in need, The Mall continues helping the ones affected by Covid.
Breuninger donates to Stuttgart Community Foundation
Breuninger donates to Stuttgart Community Foundation
What: On the 70th anniversary of its confectionery business, Breuninger donated EUR 3,000 to the Stuttgart Community Foundation.
Why it is important: Breuninger gives back to its community in a creative way to help ease some of the impacts of the pandemic.
To celebrate 70 years of its confectionery business, Breuninger donated EUR 3,000 to the Stuttgart Community Foundation. Instead of writing the donation on a giant cardboard check, they delivered it in the form of a cake.
SKP's Chairman on the cover of System Magazine
SKP's Chairman on the cover of System Magazine
What: The next issue dedicates 34 pages to Mr Ji, the founder of SKP stores.
Why is it important: Demonstrating SPK's leading position in the luxury fashion business, it's the first time Mr Ji is giving an interview outside of China.
The chairman of SKP, Ji Xiao An gets 34 pages in the issue, including a long conversation with Prada honcho Patrizio Bertelli. The two men spar over a number of subjects, including where Mr. Ji should open his next branch of SKP. He has already expanded from Beijing to Xi'an, and Bertelli is pushing for him to open in Shanghai.
The Chinese retail pioneer told the magazine he expects the fashion industry in China to grow at least three-fold in the next decade.
Breuninger hosts digital beauty masterclass
Breuninger hosts digital beauty masterclass
What: Breuninger offered a beauty masterclass with Charlotte Tilbury.
Why it is important: The masterclass comes as the third digital event hosted this year by Breuninger.
Breuninger hosted a "Beauty Masterclass" with Hollywood brand Charlotte Tilbury Beauty live from Breuninger's Flagship Store in Düsseldorf.
The online event featured make-up artist Isabel Pimentel and influencer Farina Opoku , known to her followers as "novalanalove", as they revealled the best tips and insider makeup tricks. Just like the past digital events hosted by Breuninger, all featured products could be ordered at breuninger.com during the show.
In case you missed it, click the link below to watch a replay.
El Corte Inglés ended the year with positive EBITDA
El Corte Inglés ended the year with positive EBITDA
The company managed to mitigate the effects of the pandemic thanks to digitalisation and new business development. The company ended financial year 2020 with positive EBITDA of EUR 142 million.
The company's ability to adapt to unfathomable change fuelled growth in the online business, which registered year-on-year growth of 2019. Online sales are now 17.3% of total retail revenue and marked a year-on-year growth of 132%.
The Group reported a EUR 10.43 billion revenue and a net loss before provisions of EUR 445 million in 2020, due to closure of much of its business during the initial lockdown and successive restrictions at the regional level, compounded by the total absence of domestic and international tourism.
The company reports that retail sales are trending in line with expectations, at close to 2019 levels, despite the lingering effects of the pandemic.
Breuninger to take over Konen
Breuninger to take over Konen
The München department store Konen will soon have new owners. Breuninger's CEO Holger Blecker said in an interview: " München has long been a dream locations for Breuninger. The family-owned company Konen, with its "strong brand, deep local roots and close customer relationships, is a perfect addition to our store portfolio".
The acquisition is still subject to approval by the Bundeskartellamt, expected by the end of June.
Press release - Fashion stores KONEN and BRAM become part of Breuninger (English)
Press release - Fashion stores KONEN and BRAM become part of Breuninger (German))
Breuninger boss Holger Blecker on the Konen takeover (English)
Breuninger boss Holger Blecker on the Konen takeover (German)
Falabella launches a new channel for younger generations
Falabella launches a new channel for younger generations
What: Falabella Play will air on Falabella.com with interviews and live music.
Why is it important: While increasing online traffic, the retailer aims to create a community and better understand its younger customers.
Falabella Play will broadcast on Mondays, Wednesdays and Fridays on Falabella.com, as well as YouTube, Tik Tok, Instagram, Facebook and Twitch.
Falabella Play: New multiplatform channel designed for young people
The Manor Culture Prize awarded to six Swiss artists
The Manor Culture Prize awarded to six Swiss artists
What: Launched in 1982, the Manor Cultural Prize is one of the most important prizes for the promotion of contemporary art in Switzerland.
Why it is important: The prize was launched with the aim of offering a platform to young Swiss artists.
For 39 years, the Manor Cultural Prize has been encouraging young Swiss artists in the field of visual arts: painting, sculpture, photography, video art and installations. This year, the winners will once again be able to present their work at exhibitions in Basel, Graubünden, St. Gallen, Schaffhausen, Zurich, and Geneva.
Falabella offers free international shipments in 7 days
Falabella offers free international shipments in 7 days
What: The retailer intends to compete with Amazon free shipments to Chile for purchases over USD 49.
Why is it important: Falabella.com and Linio counterattack with an even more ambitious promotion.
Not only do they offer free international shipping, but deliveries will be done in seven days. The international catalogue includes computing, cell phones, fashion, beauty, technological accessories, watches, pet items, collectibles, decoration.
El Corte Inglés is considering entering cryptocurrencies
El Corte Inglés is considering entering cryptocurrencies
What: The department store studies its entry into the cryptocurrency business, having applied for Bitcor and Bitcor El Corte Inglés trademarks.
Why is it important: It is another step in the company's diversification strategy.
The company has made a double trademark application with the European Union Intellectual Property Office: Bitcor and Bitcor El Corte Inglés. Both under the classification of 'financial services; financial transactions related to currency exchange, and foreign exchange trading.' If the process progresses as planned, on June 28, both marks will be formally registered.
However, sources close to the company explain that there is no imminent plan to launch a cryptocurrency or services linked to that activity. It is a preventive register, with the aim of pre-reserved this name.
P&C Düsseldorf acquires Magasin du Nord
P&C Düsseldorf acquires Magasin du Nord
What: The Danish department store chain Magasin du Nord will become part of the Düsseldorf-based Peek & Cloppenburg group of companies at the end of May.
Why is it important: After the acquisition, Magasin du Nord will remain an independent company under P&C umbrella.
The Peek & Cloppenburg Group currently operates around 140 P&C and Anson's sales outlets in 15 countries as well as various international online shops through its subsidiary Fashion ID.
Founded in 1868, Magasin du Nord has seven outlets in Copenhagen, Lyngby, Roedovre, Fields, Odense, Aarhus and Aalborg, as well as a Danish online shop. Since 2009, the retailer has been run as an independent company under the umbrella of British department store chain Debenhams.
"We are pleased to have found a trusted and long-term partner with the family-owned company Peek & Cloppenburg, who sees the potential of Magasin du Nord and appreciates the entrepreneurial roots. Our two companies have many similarities and together have around 275 years of experience as a multi-brand retailer," says Peter King, CEO of Magasin du Nord'.
Manor launches online marketplace
Manor launches online marketplace
What: Manor launched a digital platform for selected Swiss and European partners.
Why it is important: the move is made as an integral step in Manor's digital transformation process.
Manor has opened its digital marketplace to external partners. This is the next step in their omnichannel business model.
Over time, the retailer hopes to double its online assortment without building up additional inventory. The launch features 12 partners and 20,000 products. By the end of 2021, there will be 100 selected partners that will double the product range on manor.ch.
El Corte Inglés launches podcasts
El Corte Inglés launches podcasts
What: "Ámbito Cultural" programme offers poetry, literature, history, music and even theatre content.
Why is it important: Available on Spotify, Apple, iVoox, Google and Amazon, the podcasts are an alternative to live cultural events.
New content for children and adults will upload every Friday.
The Mall Group part of the "Bangkok Safe" project
The Mall Group part of the "Bangkok Safe" project
Starting 27 May, the Mall Group is part of "Bangkok Safe" project. Covid-19 vaccination units are open at The Mall Bangkae, The Mall Bangkapi, The Emporium, Siam Paragon for eligible people from 18 to 59 year-old.
The Mall Group is a part of the Thai United Project "Safe Bangkok".
Falabella increases sales by 11% in first quarter
Falabella increases sales by 11% in first quarter
What: Chile's retailer has closed the first three months of the year with a figure of USD 2,479 million and a profit of USD 137 million.
Why is it important: The group recorded USD 2,238.7 million for 2020 Q1, compared to USD 2,479.2 million this year.
The retailer's revenue increased by 10.7% in the first quarter, increasing its profit by 713.8%. The net result was USD 137.3 million, while gross merchandise value (GMV) was USD 581.3 million, up 142% from the first quarter of 2020,
In this context, Chile was the main market achieving significant growth thanks to a partial physical stores recovery as well as the sustained growth of e-commerce. Department stores results achieved a 41.8% growth, to USD 425.5 million. Supermarkets, on the other hand, increased by 19.8%, to USD 222.2 million.
In Peru, the business of department stores and supermarkets decreased by 0.4% and by 0.6%, respectively, to USD 121.3 million and USD 252.2 million.
In Colombia, the retailer's turnover increased the household turnover by 20%, to USD 251.7 million.
Finally, in Brazil, where the group only operates with the home improvement category, sales fell by 1.1%, up to USD 48.6 million.
El Corte Inglés discontinues some of its private labels
El Corte Inglés discontinues some of its private labels
What: The department store reorganises its women's fashion brands.
Why is it important: The retailer bets on third party brands under concession model.
Two brands (Amitié and Síntesis) are going to disappear. The objective is to reduce own brands and incorporate new third-party brands such as Violeta by Mango, which can already be found in store since last summer.
El Corte Inglés boosts product recycling
El Corte Inglés boosts product recycling
Since 2015, El Corte Inglés has collaborated with the Grow Playing Foundation by participating in the Share and Recycle initiative. In the last campaign, 145,308 kg of toys were collected and recycled by El Corte Inglés. Seventy-eight percent were donated to Spanish charities.
The company has also launched a new service through which customers can buy second-hand mobile phones and electronics, and have their devices repaired. All items have a 2 year warranty and have been tested.
In 2020, El Corte Inglés also collected 240,000 kg of used clothing thanks to 49 collection points put in place in collaboration with Caritas. Company's own brands are emphasizing sustainable materials whether it relates to its bath line, stuffed animals, single-use tableware or toilet paper.
In addition, various initiatives are already in place, contributing to the objective of achieving Zero Waste certification in all stores in 2022. The Group already uses 100% of renewable electricity.
SKP expands to Wuhan
SKP expands to Wuhan
The Beijing-based department store group has signed a contract with Wuhan's government to build a new property in the city's Wuchang district, set to open in two years.
Retail sales of consumer goods in Wuhan rose 67.4% in the first quarter of this year, making it one of the top ten performing cities in China.
In 2020, Beijing SKP's sales reached RMB 17.7 billion (USD 2.77 billion), making it China's top luxury department store for the 10th consecutive year.
El Corte Inglés to sell its logistics centres
El Corte Inglés to sell its logistics centres
What: They represent a portfolio of 1.2 million square meters distributed in fifty warehouses.
Why is it important: The operation is the first step in a strategy to reduce debt by obtaining EUR 2 billion from the sale of real estate assets.
BNP Paribas has valued the company's logistics assets to EUR 400 million. All of them won't be put for sale.
While some real estate assets have already been transformed into dark stores, Marbella's centre will be transformed into offices to be leased.
El Corte Inglés puts its logistics centers up for sale to reduce debt
Galeries Lafayette Haussmann flagship's iconic dome restoration
Galeries Lafayette Haussmann flagship's iconic dome restoration
Galeries Lafayette Haussmann's famous dome will be returned to its full splendour this spring, after over two years of extensive renovations. The restoration of this Art Nouveau treasure – one of the largest refurbishments ever undertaken by the Boulevard Haussmann flagship store – was overseen by Citynove, the group's real-estate asset management business.
To this day, the dome, or "Coupole", continues to be admired by the department store's 37 million annual visitors, and is one of the French capital's key attractions.
Commenting on the renovation, Galeries Lafayette group Image and Communications Director Guillaume Houzé, said: "The 'Coupole' encapsulates Galeries Lafayette's historic values and desire to offer visitors a unique blend of creation and commerce. It is a symbol of innovation, expertise, and rich cultural heritage."
Galeries Lafayette Group completes the restoration
El Corte Inglés launched a personalized loyalty cosmetics program
El Corte Inglés launched a personalized loyalty cosmetics program
What: Mimo is a digital cosmetics loyalty plan that will function as a "tailor-made experience".
Why it is important: It offers a level of customization with the aim of providing the client with custom proposals based on their tastes and needs.
Mimo is a digital cosmetics loyalty program that El Corte Inglés has launched in order to provide customers with customized product proposals based on their preferences.
The plan offers a 10% discount on the first purchase of beauty products made by the client and will continue with tailored proposals, experiences, gifts, promotions, events and content with relevant information based on the profile of the client.
The program will use the El Corte Inglés app to communicate with the clients by means of 'push' notifications and through the 'My offers / coupons' area that appears in the application.
SM Investments Q1 net income rises 5%
SM Investments Q1 net income rises 5%
SM Investments Corporation (SMIC) reported its consolidated net income grew 5% to PHP 9.5 billion (USD 198 million) in the January to March period from PHP9.0 billion (USD 188 million) in the same period last year. Consolidated revenues in the first quarter lower by 13% in the same period last year.
Retail accounted at 13% of SM's reported net earnings. The total assets of SMIC remained at PHP1.2 trillion. Gearing ratio stood at 38% net debt to 62% equity.
SM Retail reported first-quarter revenues of PHP 70 billion (USD 146 million), lower by 14% compared to the same period last year. Retail net income however grew 36% in the same quarter last year, boosted by cost reductions. In Food Retail, significant savings were realized in utilities with the shift to more energy-efficient lighting and refrigeration.
Specialty stores likewise benefitted from cost reductions as net earnings grew 58% for this segment.
