What: SM Investments Corporation reported its net income increased 65% to PHP38.5 billion in 2021 from PHP23.4 billion in 2020. Consolidated revenues grew 9% to PHP428.1 billion compared with PHP394.2 billion last year.

Why it is important: SM Retail reported revenues at PHP303.9 billion, from PHP296.8 billion, up 2%. Net income increased 133% to PHP9.6 billion from PHP4.1 billion. The general improvement in profitability was largely due to sustained growth in sales particularly for the SM Stores and Specialty Stores.

Despite the challenges of the pandemic, SM continued to expand its retail footprint. THE SM STORE opened two new stores in 2021 in Caloocan and Camarines Norte. The food group, which includes SM Markets (SM Supermarket, SM Hypermarket, and Savemore), Alfamart, and WalterMart added 219 new stores in 2021.

By the end of the year, SM Retail added a total of 294 new stores across the entire portfolio for a total of 3,215 outlets, consisting of 68 The SM Stores, 1,539 specialty retail stores, 62 SM Supermarkets, 52 SM Hypermarkets, 214 Savemore, 73 WalterMart, and 1,207 Alfamart stores.

The total assets of SM grew 10% to PHP1.3 trillion. SM maintains a healthy balance sheet with a conservative gearing ratio of 38% net debt to 62% total equity.

SM net income grows 65% in 2021

What: The company achieved sales of 14,120 million pesos in the fourth quarter of 2021, representing an increase of 37.2% compared to the same period of 2020.

Why it is important: When comparing to 2020, profit increased by 93.6% before financial expenses, taxes, depreciation and amortization, and represents 15.6% of sales.

The commercial division recorded an increase of 36.4%. The credit and real estate division registered an increase of 11.7% and 194.8%, respectively. The triple-digit acceleration of the real estate division is mainly due to the reopening of businesses in the shopping centers where the company participates.

El Palacio de Hierro 2021 Q4 

El Palacio de Hierro 2021 Q4 

What: Supaluck Umpujh the Chairwoman of the Mall Group has been awarded the National Order of the Legion of Honor at the rank of the Knight by decree of the President of the French Republic.

Why it is important: The National Order of the Legion of Honor at the rank of Knight is an insignia of the highest honor appointed by the French Republic with over two centuries of history and global recognitions. They are awarded to French nationals and non-French recipients who contribute to the public service of France. It is the highest honor and an invaluable pride.

Currently, there are 313 non-French recipients who received the honor. In Thailand, Supaluck Umpujh is the first woman in the retail business to receive this honor. In addition to being an honor to her family, the recognition is an honor to all Thai citizens and the retail industry of Thailand.

Chairwoman of the Mall Group awarded the 'Legion of Honor' 

What: As of Tuesday, March 22, Fnac Switzerland will be opening its shop-in-shop at Manor Zurich Letzipark. Fnac will be present on the second floor of the building on an area of about 590 square meters.

Why it is important: The shop-in-shop is part of the agreed partnership between Manor and Fnac to open 27 shop-in-shops in Manor department stores by mid-2022.

This new shop-in-shop will be offering different customer experiences including discovery vouchers that will be distributed at the cash registers of the store,  such as free Fnac membership cards during the opening, week as well as an exclusive Apple offer for the first 100 customers of the new shop-in-shop with AirPods for 99 Francs instead of 139 Francs.

Fnac Switzerland will be present on the manor.ch online store during the course of 2022 and will offer several thousand items in the newly created marketplace.

For Manor, this partnership also means that its own stores and the manor.ch online store will benefit from Fnac's know-how and sales force in the multimedia, cultural products and small household appliances categories.

Manor Zurich Letzipark location is set to open a Fnac shop-in-shop (in French)

What: El Corte Inglés has created its first 3D fashion collection with the objective of increasing the efficiency and sustainability of its collections. This approach would also shorten the development and production of garments.

Why it is important: 3D design collections are enabling companies to have shorter development and production times by decreasing processing times and allows for pre-testing by conducting preliminary test of a sample online prior to creating stock.

The 3D collections will allow the improvement of the production and offers the chance to build communication between departments and suppliers with traceable and digitized online communication. Additionally, these collections allow for collaboration and design to be the front of the collections. With the chance to collaborate with consumers for their opinions on collections prior to manufacturing while also collaborating with different designers in various locations.

The 3D fashion design will lead to a 50% sample reduction, a 15-day decrease in the time it takes to process collections for approval and allows for the teams carrying out the promotion at the point of sale can intervene two months in advanced. This results in improvements in sustainability, efficiency, in the product and in sales.

The first garments of this pilot project that will be designed in 3D are those corresponding to the spring/summer collections.

El Corte Inglés has designed its first 3D fashion collection (article in Spanish)

What: The group has enlisted Deloitte to help develop a platform to offer the retailer's 11 million-strong customer base a "new investment concept".

Why it is important: The decision is the result of an internal debate on the suitability of venturing into this world of alternative investments, and includes the creation of a new company called Bitcor, which will allow clients to trade digital assets like Bitcoin (BTC) and Ethereum (ETH).

Bitcor has already been registered with the European Union Intellectual Property Office (EUIPO) to provide "financial services, financial transactions related to currency exchange and currency trading," and approved by the European Commission.

El Corte Inglés launches crypto exchange for its customers

What: The Mexican department store company ended the year with an EBITDA 2.6 times higher than in 2020. The group's online revenue growth was 43%.

Why it is important: After investments in its digital business and remodeling stores in 2021, El Palacio de Hierro has reported a growth above 2019 and 2020.

The Mexican department store company has ended the 2021 financial year with a year-on-year growth in sales of 46.4%, to 37,215 million Mexican pesos (1,620 million euros). The company has thus exceeded the level of sales prior to the pandemic, with an increase of 6.2% compared to 2019. The company's EBITDA reached EUR 186 million euros, four times more than in 2020.

The company has accelerated its digital business in the last financial year, which has consequentially created a higher demand for new providers that are willing to join El Palacio de Hierro's network.

The retailer also increased its revenues through the online channel by 43% in 2021.

El Palacio de Hierro closes 2021 above 2019 figures (article in Spanish)

What: The Galeries Lafayette Group will soon reach a new milestone in terms of its ownership of La Redoute, of which it has held a 51% stake since the end of 2017. Over the next months, the Group's stake will rise to 100%.

Why it is important: La Redoute has proved the relevance of its business model, achieving solid results and significant growth in the last two years.

With a new chapter in the company's history about to start, Nathalie Balla and Eric Courteille, who have been La Redoute's Co-CEOs since 2014, have expressed their desire to pursue new personal projects. Following their decision, La Redoute's Supervisory Board, chaired by Philippe Houzé, has today appointed Philippe Berlan as the company's new CEO. Philippe Berlan is currently La Redoute's Deputy Managing Director, having joined the company in 2012. He is a graduate of the École des Mines de Paris and has more than 25 years of experience in the retail industry, at Casino, Petit Bateau and Lancel.

Galeries Lafayette to own 100% of La Redoute

What: The Manor Cultural Prize has been awarded to five Swiss artists in 2022.

Why it is important: For 40 years, the Manor Cultural Prize has encouraged young Swiss artists in the field of visual arts: painting, sculpture, photography, video art and installations.

In 2022, the Manor Cultural Prize is awarded to Dominic Michel (Aargau), Gil Pellaton (Bern), Claudia Kübler (Lucerne), Lucas Herzig (Ticino) and Sarah Margnetti (Vaud).

The winners will be able to present their work at exhibitions in Aarau, Biel, Lucerne, Lugano and Lausanne over the course of the year.

Manor Cultural Prize, awarded to five Swiss artists, celebrates 40 years

What: SM Investments Corporation (SM Investments) received the highest honors for their performance on sustainability initiatives from multimedia company the Asset Publishing and Research Ltd. based in Hong Kong.

Why it is important: The award recognizes companies in Asia for their performance in metrics including financial management, corporate governance; and social and environmental responsibility.

SM Investments won the coveted Platinum Award during the recent The Asset ESG Corporate Awards 2021 for the 13th consecutive year. SM Investments was also recognized as the Best Investor Relations Team, the 4th time the company received the award from The Asset.

SM takes home sustainability awards

What: Falabella reported profits of USD 772 million in the accumulated fiscal year of 2021 with online sales representing 23%.

Why it is important: Falabella has concluded this increase in sales is due to a better performance of the retail and real estate formats.

On the other hand, in 2021, the company registered an EBITDA of US$ 1,876 million, an increase of 91.2% versus 2020. They also saw a 35% increase in sales for physical stores in 2021 and a 25% increase in online sales.

Falabella reports historical profit record in 2021

Falabella Corporate Presentation Fourth Quarter 2021

What: After double-digit growth in Falabella's 2021 turnover, they confirmed a new store in Colombia coming soon.

Why is it important: With Colombia being a market with high levels of demand for clothing and fashion, Falabella is listening to their local clientele and acts according to their needs. This has been key to their huge successes.

Falabella celebrates 15 years of presence in Colombia and with full market integration, significant growth and a sustainability strategy that leads companies in the region.

Falabella to open new megastore in Colombia

What: Breuninger's Head of Style Martina Haberbosch speaks about upcoming fashion ranges.

Why is it important: With the new order round for FW22/23, buyers are faced with the challenge of planning ahead for a season whose terms and conditions are more difficult to estimate than usual.

Haberboch explains, there are different themes. At the top is the modern prêt-à-porter, so a bit dressier, but the comfort that we have come to love so much will remain. She expects that casual blazer styles and loose-fitting trousers in comfortable, high-quality materials, and ready-to-wear sets will continue to have a strong presence.

Interview with Breuninger's head of style

What: Prada continues their, exclusive to Galeries Lafayette, pop-ups with "Prada Tropico."

Why is it important: With Galeries Lafayette hosting "Prada on Ice" in early January, Prada follows the experience with the new "Prada Tropico" pop-up scheduled from January 24th to February 20th.

Presaging the warmer season, the space features combinations of colorful stripes and light effects that create a compelling experience in the pop-up store and window displays.

It will present the new Prada collection in the same patterns and colors on different hat models as well as bags in raffia, canvas and nylon. You will also find flowing silk blouses, mini-skirts, mid-length or long skirts, relaxed masculine shirts and shorts and straw hats.

Galeries Lafayette presents "Prada Tropico"

What: Stéphane Zantain has been appointed CIO (also in charge of the Supply Chain) for Galeries Lafayette and BHV Marais.

Why it is important: Stéphane Zantain will contribute to the omnichannel transformation of both department stores. He reports to Nicolas Houzé, General Manager, and becomes a member of the Executive Committee.

Zantain is a graduate from Ecole des Mines in Nancy, has nearly 25 years of experience in supply chain and IT services. He began his career in 1996 as a consultant, before joining ArjoWiggins, one of the world's leading paper companies in 2003. In 2009, he joined Capgemini's Executive Committee and led the division in charge of digital customer experience. Since 2018, he has held the position of PMU's CIO, contributing to the redesign of the company's digital ecosystem.

Galeries Lafayette has a new CIO

What: Falabella will open eight Sodimac stores in Brazil between 2022 and 2023.

Why is it important: Falabella announced that it will expand its operations in Brazil with the inauguration of eight new Sodimac stores, its home improvement chain.

These will add to the 53 already existing stores in Brazil. In 2013, Falabella bought 50.1% of the Brazilian chain Dicico and in 2018 acquired the rest of the property. Since then, they have adjusted their value proposition and been integrating their Sodimac brand in the country.

Falabella plans eight Sodimac stores in Brazil

What: Customers can drop off their clothes at any branch of The SM Store. They will be offered a discount voucher for every donation to be redeemed at their next purchase in-store or via Call to Deliver.

Why it is important: Donations are targeted to reach Odette-hit communities The SM Store partnered with SM Foundation and local organizations for the distribution.

The SM Store supports Odette-hit communities

What: El Corte Inglés has sealed an agreement with Octagon Esedos to sponsor four bike races and the Ibercaja Quebrantahuesos Cycle Tour by TotalEnergies.

Why is it important: El Corte Inglés will have a brand presence in the four bike races: Andalucía Bike Race by Garmi; La Rioja Bike Race presented by Pirelli; MMR Asturias Bike Race and Catalunya Bike Race by Oakley.

As part of the agreement with Octagon Esedos, El Corte Inglés will be present at the provisioning stations for all events and carry out promotional activities and other customer experience activities.

El Corte Inglés will also support the most important cycling competition in Spain, the Ibercaja Quebrantahuesos Cycling Tour by TotalEnergies and Treparriscos, which will bring together more than 10,000 participants in its XXXI edition. Where they will provide the participants with Boomerang brand sports bags.

El Corte Inglés sponsors four bike races and Quebrantahuesos competition

What: Men's War Paint products are available exclusively in the Manor department store in Geneva and online at manor.ch. The goal: invisible make-up and care adapted to each skin type.

Why is it important: More and more men around the world are turning to makeup and beauty products. The international trend is now revolutionising the world of beauty in Switzerland, specifically at Manor.

Men can get advice on products in-store to achieve great skin with products adapted to their specific skin types and invisible make-up. Unlike most beauty trends, men's makeup and mask rituals are unseen. The products of War Paint hide skin irregularities and is not visible to others. To enhance the radiance, the fabric masks of Wolf Project are used in addition for the best results.

Wolf Project products are developed in Switzerland and manufactured in South Korea. The Wolf Project sheet mask hydrates ten times more than traditional face creams. Natural bamboo charcoal promotes better absorption of serum by the skin. Aloe vera, hyaluronic acid and tea tree extract help restore skin's radiance and elasticity in just 15 minutes.

 Manor presents men's cosmetics

What: Mr Alberto Bailleres, former president of El Palacio de Hierro among other companies composing his business conglomerate Grupo Bal (including silver producer Industrias Penoles SAB, miner Fresnillo PLC, insurance company Grupo Nacional Provincial, pension fund manager Profuturo) passed away on 2 February in Mexico City at the age of 90.

Why it is important: He had handed over the presidency to his son Alejandro Baillères in April last year, and had been appointed honorary president of the El Palacio de Hierro board.

Mr Bailleres was known for avoiding any kind of publicity and also for his true attachment to Mexican rural life. This translated during his exemplary career into visionary goals with the community kept in mind, an approach which allowed him to receive the Belisario Dominguez medal in 2015, the highest honor awarded by the Mexican senate, for his entrepreneurship.

Alberto Baillères, former president of El Palacio de Hierro, has passed away 

What: Galeries Lafayette are eyeing to a same-day delivery service for their Gourmet offer.

Why it is important: So far, none of the large Paris department store is offering such a service, which also paved the way for a strong competition from smaller operators and newcomers. This move will probably trigger a general move to a same-day-delivery service as a stapple also from the other department stores in the city.

Irish tech unicorn Flipdish made an agreement with Galeries Lafayette to develop a bespoke product-ordering solution for Lafayette Gourmet. This new solution will allow the group to manage stock and deal with complex business issues such as order capacity and minimum preparation times. This will also allow Galeries Lafayette to offer a same day delivery service in Paris and its region.

Galeries Lafayette partnering with Irish restaurant and takeaway ordering system Flipdish

What: The Spanish retailer partners with Mondial Tissus, a French retailer selling fabrics and sewing material, with a 70 sqm corner in Pintor Sorolla store in Valencia.

Why it is important: El Corte Inglés is seeking to diversify its offer by surfing on the homemade trend, accelerated by the health crisis. Mondial Tissus – which has doubled the number of sewing machines sold in 2020 – will organise 'Do it yourself' workshops.

El Corte Inglés bets on the DIY trend

What: To cope with the diversification in payment methods, Galeries Lafayette Haussmann and BHV are now using RoverCash cash register software, developed by the French company Lundi Matin.

Why it is important: For Black Friday, the Alma BNPL solution has already been implemented. In 2022, Lundi Matin will deploy a solution transforming the seller's smartphone into a payment terminal. More developments are on the way to focus on the new customer journeys: omnichannel solutions, cryptocurrencies, automatic checkout and mobile app payment.

Galeries Lafayette's new payment tools

What: Galeries Lafayette is celebrating Smiley's 50th Birthday in order to spark joy in consumers' lives while the pandemic resurges.

Why it important: The optimistic face will be available on a plethora of media through collaborations in the worlds of fashion, beauty, decoration and food.

André Saraiva has reinterpreted the logo for this event and co-founder of concept store Colette, curated 50 brands offering their version of Smiley. The Galeries Lafayette brand has also dedicated a Smiley mini-collection for men, women and children.

These collections will be referenced throughout the department store and animations such as a giant structure in the colors of the yellow face and a gaming room within the atrium of the Homme store, boulevard Haussmann in Paris with also be on display.

Galeries Lafayette celebrates 50 years of Smiley