What: Forbes reviews Abu Dhabi’s new airport retail proposition and its added value compared to the regional giant, Dubai.

Why it is important: Due to their regional competition, UAE countries are going to try to attract an increased share of the international transiting traffic.

The newly opened Terminal A at Abu Dhabi International Airport is set to elevate the city's status as a key hub for tourism, trade, and business. This luxurious terminal aims to compete with Dubai's bustling airport and offers an extensive retail space of 380,000 square feet, featuring 163 retail and food & beverage units.

Passengers can look forward to high-end brands like Gucci, alongside more accessible options such as Muji. Terminal A will also be home to the airport's first restaurant by celebrity chef Todd English, offering a diverse international menu.

With advanced biometric touchpoints and streamlined baggage systems, the terminal promises a swift and efficient experience for travellers.

Etihad Airways, as the main tenant, is central to Abu Dhabi's ambition to strengthen its global aviation presence, despite a smaller network compared to regional competitors. Terminal A represents a significant step in Abu Dhabi's growth strategy and aims to attract passengers with its unique offerings.

Abu Dhabi's new international airport retail proposition

What: Reliance Retail Ventures Limited has acquired exclusive rights to Sephora's presence in India, aiming to dominate the Indian beauty market.

Why it is important: The partnership with Sephora will boost Reliance Retail's beauty platform, Tira, and help them compete with Nykaa, a leading player in the Indian beauty market.

As part of the agreement, Reliance Retail will take over the operation of Sephora's 26 stores in India, expanding the brand's footprint in the country. The Indian beauty and personal care market, valued at $17 billion, is still considered to be in its early stages, presenting significant growth opportunities. With a growing desire for self-expression and increasing aesthetic refinement among Indian consumers, the beauty market is expected to thrive.

Reliance Retail to take over Sephora India

What: Central Group has reaffirmed its commitment to supporting its European luxury stores, including KaDeWe and Selfridges, regardless of the situation with Signa.

Why it is important: The ongoing support from Central Group provides stability and optimism for the future of Selfridges and KaDeWe.

Signa is reportedly facing difficulties due to rising interest rates, plummeting real estate values, and poor management.

Central Group and Signa jointly acquired Selfridges two years ago for a reported GBP 4 billion, splitting it into a property business and a retail business. Selfridges and KaDeWe have stated that their businesses will not be affected by Signa's troubles and that they have the full support of Central Group. It remains uncertain if Signa will sell its 50 % stake in Selfridges and if Central Group will purchase it.

Central Group vows to back luxury properties amid Signa scandal

What: Through a strategic partnership, Amazon will start selling Hyundai cars next year;

Why it is important: Although, for many safety and local regulation reasons, this is mostly a PR stunt, it also shows that the nature of e-commerce has changed, and the gap between China and the rest of the world is tightening. The use of marketplaces is the only way for department stores to expand their product categories beyond the traditional and remain on par with Amazon.

Amazon will start selling Hyundai vehicles online in the U.S. from next year, building on their previous collaboration. This service will allow customers to select, customize, and purchase a Hyundai car on Amazon.com and arrange its delivery through a local dealer. Initially established in 2018, Hyundai's digital showroom on Amazon has been expanded to facilitate this new buying process. Additionally, the 2025 Hyundai models will integrate Amazon's Alexa voice assistant. Hyundai Motor CEO Jay Chang sees this partnership as a significant step towards expanding Hyundai's portfolio and advancing into electrification and smart mobility.

Amazon to sell Hyundai cars online in 2024

What: Siam Piwat Group has received 3 international awards: Best Developer, best luxury lifestyle mall, and Iconic Developer.

Why it is important: International department stores need to keep an eye on what is going on in Thailand as the 3 major groups are rivalizing in terms of retail innovation.

Siam Piwat Group, a prominent Thai real estate and retail business developer, has been recognized with three major awards at the Global Brand Awards 2023 in the UK. The honours include 'Iconic Developer of the Year' for Siam Piwat, 'Best Luxury Lifestyle Mall' for Siam Paragon, and 'Best Cultural Attraction' for IconSiam.

These accolades underline Siam Piwat’s success in creating globally renowned destinations that provide exceptional experiences and showcase Thai identity on the world stage.

The Global Brand Awards, hosted by Global Brands Magazine, acknowledge excellence in branding and customer engagement across various sectors.

Siam Piwat Group honoured at Global Brand Awards

What: Saks CEO Marc Metrick recently addressed the state of the luxury market, emphasizing its long-term potential for growth.

Why it is important: The article provides insights into the perspective and growth strategies of Marc Metrick, as well as his view on the long-term potential of the luxury market.

Metrick highlighted Saks' "three horizons" of growth: international potential, Barneys and the 2023 holiday season. He believes that luxury consumers are more resilient during economic downturns, often being the last to cut back on spending and the first to recover. Saks also plans to expand internationally, with a digital-first approach to entering new markets and partnering with local stakeholders. Metrick also discussed the importance of using AI and analytics to prevent fraud and enhance the shopping experience. While he did not specify any explosive or significant plans for Barneys at Saks, Metrick emphasized a careful and measured approach to its development. They are committed to nurturing and expanding the concept but will proceed cautiously. The focus is on seizing strategic opportunities and ensuring the long-term success of Barneys at Saks.

Saks’ CEO, Marc Metrick on Saks and the luxury market

What: Emmanuelle Claverie-Veysset has been appointed as the new general manager of BHV previously under the Galeries Lafayette Group and now owned by the SGM group.

Why it is important: The appointment of a new general manager marks strategic leadership change that aims to revitalise the department store by enhancing customer experience and adapting to new market trends under the ownership of the SGM group.

Claverie-Veysset, who joined the SGM group in 2022, has a long history with Galeries Lafayette, holding various roles from 2004 to 2021, including director positions at several Galeries Lafayette stores.

In her new role, she will lead the transformation of BHV, focusing on optimising customer experience, increasing physical store traffic, strengthening the online presence, and responding to new consumption trends. Her primary focus will be on the home, DIY, and leisure markets, with less emphasis on fashion. Additionally, Claverie-Veysset will maintain her role as director of the department stores division within SGM, overseeing the development and transformation of seven Galeries Lafayette stores in various French cities.

BHV appoints Emmanuelle Claverie-Veysset as new general manager 

What: EBay has launched a streetwear pop-up store called "Canal Street Wear" in New York City.

Why it is important: This offline presence complements eBay's efforts to attract customers in-person, such as previous pop-up shops and authentication events.

The store sells authenticated products from top-rated eBay sellers and allows customers to verify the authenticity of their own streetwear items. It features brands like Nike, New Balance, Louis Vuitton, Bape, and Chrome Hearts.

EBay has seen a significant rise in consumer interest in streetwear, with worldwide searches increasing by over 150% since the beginning of 2023. The company aims to make eBay the most trusted destination for streetwear by expanding its Authenticity Guarantee program.

The pop-up store is located on Canal Street, known for its counterfeit goods, and eBay has been combating fakes by expanding verification services and acquiring a digital identification and authentication firm.

EBay opens streetwear pop-up in New York City

What: Walmart shares closed 8.1% lower after predicting weaker consumer spending during the holiday season.

Why it is important: The company's cautious holiday outlook for consumer spending reflects potential shifts in consumer behaviour and sentiment towards essential purchases amidst inflationary pressures.

Walmart's third-quarter revenue of USD 160.8 billion and adjusted earnings of USD 1.53 per share came in slightly ahead of expectations. Sales strength in the US operations was led by grocery and health categories, while general merchandise sales declined modestly.

The company raised hopes for relief from inflationary pressures, as grocery inflation starts to normalize and pricing on general merchandise comes down. Walmart is forecasting full-year net sales growth in the range of 5% to 5.5%, with adjusted earnings per share between USD 6.40 and USD 6.48.

Walmart stocks drops after forecasting cautious spending by consumers

What: Fortnum & Mason CEO, Tom Athron, has urged the government to scrap the tourist tax in the Autumn Statement to prevent losing sales to France, which will be hosting the Olympics next year.

Why it is important: Athron emphasized the need for immediate action, as people are already planning their travel for the upcoming year.

While experts suggest that allowing overseas tourists to shop VAT-free could strengthen the economy by GBP 10bn, the government has rejected calls to eliminate the tax thus far. Athron believes that the weak pound is currently disguising the impact of the levy, but this may change as currency markets fluctuate. In 2021, the Treasury discontinued tax-free shopping for overseas visitors, arguing it would lead to GBP2bn in lost tax revenue, but supporters argue that higher sales and increased visitor numbers would offset this.

Fortnums CEO urges government to ditch tourist tax before it’s ‘too late’

What: End-of-year shopping season significantly increases the risk of costly cyberattacks on retailers, necessitating enhanced cybersecurity measures and preparedness.

Why it is important: Retailers face a heightened risk of cyberattacks during the end-of-year shopping season, and they must invest in robust cybersecurity strategies to protect themselves and their customers.

The end-of-year shopping season poses a heightened risk for cyberattacks on retailers and their customers, with these incidents becoming more frequent and costly. In 2023, the average cost of a cyberattack incident rose to $1.7 million. Retailers, who often manage large amounts of sensitive customer data, are particularly vulnerable.

The impact of these attacks can be significant, disrupting operations and causing substantial financial losses. Retailers are responding by allocating a larger portion of their IT budgets to cybersecurity, though the overall investment remains lower compared to other sectors. The evolving nature of cybercrime, including the use of advanced technologies like artificial intelligence, makes it imperative for retailers to share threat intelligence and have robust response plans in place to minimize damage and recover quickly from attacks.

Tis the season for Cyberattacks

What: Fortnum & Mason has resumed deliveries to European countries after facing Brexit-related customs challenges.

Why it is important: The move is part of the retailer's strategy to meet international demand, including plans to open a store in Dubai International Airport and explore opportunities in the US.

The company has launched a dedicated website for its EU customers and is now shipping to 15 countries from a fulfilment centre in Belgium. UK customers can also use the website to ship products to friends abroad.

Fortnum & Mason resumes delivery to the EU

What: Neiman Marcus Group has committed to the Science-Based Targets initiative (SBTi) and become a sponsor for the Supplier Leadership on Climate Transition (Supplier LOCT) program.

Why it is important: This commitment is part of the group's broader environmental, social, and governance (ESG) strategy. Neiman Marcus Group is the first luxury retailer to sponsor the Supplier LOCT program.

The company aims to reduce scope 3 emissions throughout its supply chain, and the Supplier LOCT program will play a crucial role in achieving this. NMG is offering its suppliers opportunities to participate in seminars to set and meet emission reduction targets. Currently, 35 suppliers, including Golden Goose, Eileen Fisher, Canada Goose, and FM Global, have enrolled in the program. With the support of NMG and other leading brands, more than 800 global suppliers are receiving practical guidance to measure, monitor, and reduce their carbon emissions.

Neiman Marcus Group commits to science-based climate targets

What: Simon Property Group is now setting its focus on Indonesia with a first outlet center in Jakarta.

Why it is important: With the slowdown in developed markets, international players are looking for new relays of growth at a moment when developing markets are maturing.

Simon Property Group has initiated construction on its first premium outlet center in Indonesia, set to open in West Jakarta by early 2025. This venture, in collaboration with Genting, aims to introduce Indonesians to upscale brands at more accessible prices. The centre will feature 150 stores and eateries over 28,000 square meters, strategically located near a major highway and the densely populated Jakarta metropolitan area.

The move capitalizes on Southeast Asia's growing middle class, which is increasingly brand-conscious yet value-oriented due to economic pressures. Jakarta, now classified as an 'upper middle-income country' by the World Bank, has a significant consumer base with disposable income, making it ripe for such development.

Simon's foray into the Indonesian market is part of a broader strategy to expand internationally in regions with rising incomes and untapped market potential, as the U.S. nears saturation for malls and outlets. The company, which is performing well with net income of $1.5 billion from revenue of $4.1 billion over nine months, sees international development as a key priority moving forward. Simon’s Jakarta Premium Outlets will be their 19th in Asia, joining other successful outlets that have shown strong sales figures pre-Covid. The new outlet will face competition from The Grand Outlet – East Jakarta, a venture by Tuan Sing Holdings and Mitsubishi Estate, scheduled to open earlier with a different configuration and possibly a different brand mix.

Why Jakarta is the next destination for premium outlet retailers

What: Macy’s announces their Q3 results and their CEO, Jeff Gennette reports his last earnings reports to Wall Street before retirement.

Why it is important: Macy's Inc.'s third-quarter sales and performance, including the CEO's remarks, financial figures, and the company's strategies to address sales challenges and maintain inventory control is relevant for all stakeholders as well as reflects the industry performance.

Jeff Gennette, the CEO of Macy's, reported adjusted earnings per share of 21 cents, surpassing analysts' expectations. However, net income fell 60% compared to the previous year. Revenues for the quarter decreased by 7.8% to USD 5 billion. Despite challenging sales, Macy's maintained controlled inventory and introduced new initiatives like the On 34th private brand.

Gennette expressed confidence in his successor, Tony Spring, and emphasized the importance of a strong merchandising team and the integration of data analytics. Macys' stock rose by as much as 14.4% in morning trading following the earnings beat.

Macy's CEO Jeff Gennette reports Q3 earnings as Tony Spring prepares to take over

What: John Lewis has kicked off its Black Friday sale earlier than ever, offering discounts on various products throughout the whole month of November.

Why it is important: The department store aims to support customers in spreading the cost of Christmas by providing a longer sales period.

The retailer's executive director, Naomi Simcock, stated that they are abandoning the traditional one-weekend Black Friday event in favour of offering discounts all month long. The move comes as more Britons begin their Christmas planning a month ahead of time. Sales of Christmas ranges at John Lewis have already seen a 10% YoY increase in October, and the store's festive department has experienced a 13% rise in visitor numbers.

John Lewis kicks off Black Friday sale ‘earlier than ever’

What: Klarna has expanded its Ads Manager and Creator Shops tools in the UK, Sweden, and the US.

Why it is important: Klarna aims to transform into a growth partner and retail media network, providing more powerful ways for retail partners and creators to reach high-intent shoppers, while consumers enjoy a personalized shopping experience.

The tools aim to help retailers and creators engage with their audiences more effectively and enhance the shopping experience for consumers. Ads Manager allows retailers to reach high-intent shoppers based on Klarna's 150 million strong shopper audience, providing personalized ad targeting and reporting for campaign optimization. Creator Shops, which allows creators to launch their own storefronts, is now available in the US. It provides a consistent shopping experience and allows shoppers to find and shop their favourite creators' product recommendations.

Klarna expands Ads Manager and Creator Shops in UK, Sweden, US

What: Liz Rodbell has been appointed as the President and CEO of the Hudson's Bay division in Canada, returning to the company after working as a consultant and serving as Steve Madden's group president of retail.

Why it is important: Liz Rodbell brings her extensive retail experience and success, signalling a focus on customer satisfaction and driving growth.

During her previous tenure at Hudson's Bay, she drove a 22% increase in sales. According to Richard Baker, the governor and executive chairman of HBC, Rodbell's focus will be on providing a relevant assortment, strong brand partnerships, and an inspiring shopping experience for customers.

Michael Culhane has also been appointed as the Chief Operating Officer and Chief Financial Officer of Hudson's Bay.

Liz Rodbell named President and CEO of Hudson’s Bay

What: The Economist gives a close look at the situation at Signa and Reneé Benko’s situation

Why it is important: Many department stores could be impacted by the situation if it was to become out of control

René Benko, founder of Austrian property giant Signa, is facing significant challenges as his company, known for owning high-profile assets like the Chrysler Building and London's Selfridges, undergoes urgent restructuring. Despite attempts to project strength, including a lavish party with Boney M’s performance, Signa is grappling with unclear, yet substantial debts and is pressured to raise capital or sell assets in a difficult real estate market.

Benko, who built a vast empire and became a billionaire before 40, is being pushed out of the boardroom by minority co-investors. Signa's complex ownership involves various trusts and holding companies across different regions, and its debts are collateralized against individual properties.

The restructuring process is being led by German expert Arndt Geiwitz, who is tasked with finding long-term solutions and possibly raising fresh capital or selling assets. Signa faces immediate challenges like unfinished projects and a €200 million private bond due for repayment.

Financial regulators and banks, particularly Austrian ones like Raiffeisen, are closely monitoring the situation, assessing their exposure to potential losses. The Thai Central Group, co-owner of some of Signa's valuable properties, might emerge as a potential buyer. Meanwhile, Benko's involvement in a corruption investigation and his controversial business practices, including dealings with major European retail chains and a significant stake in Austria's largest newspaper, add to the complexity of the situation.

How tycoon behind Selfridges was forced out

What: The retail rental price evolution is usually a great manner to understand where the challenges are.

Why it is important: HK has for long remained the commanding location when it comes to retail. Three years after the pandemic, things have changed.

Hong Kong's Tsim Sha Tsui, previously the world’s most expensive retail district, has slipped to third place globally behind New York's Fifth Avenue and Milan's Via Montenapoleone. Tsim Sha Tsui now commands annual rents of US$1,493 per square foot, compared to US$1,766 in Milan and US$2,000 in New York. The decline in Hong Kong is attributed to the pandemic's impact on tourism and a period of civil unrest, resulting in a 39% drop in rents.

Despite this downturn, Tsim Sha Tsui remains the most expensive retail destination in Asia-Pacific, followed by Causeway Bay and Tokyo's Ginza. Hong Kong's stringent pandemic measures led to a tourism and retail recession, causing Upper Fifth Avenue in New York to overtake Tsim Sha Tsui as the world's costliest shopping area last year.

Cushman & Wakefield notes that Hong Kong's retail recovery is resilient, supported by growth potential from a low base during Covid-19. However, shifts towards "retailtainment" and experiential offerings are changing the retail landscape. This shift might discourage luxury brands from expanding in Hong Kong, as local brands and businesses like pharmacies increasingly take up retail space. The trend of mall operators using entertainment features to attract customers is growing, reflecting consumers' desire for unique shopping experiences.

Despite the recovery of Hong Kong's tourism and retail sectors, visitor spending on shopping remains below pre-pandemic levels. The changing retail landscape, e-commerce growth, a strong Hong Kong dollar, and competition from neighboring cities pose challenges for Hong Kong retailers. As a result, innovative retail solutions are being implemented to stay competitive.

World’s priciest retail streets

What: Louis Vuitton is venturing into the world of Web3 with the release of a phygital trunk bag sold as an NFT.

Why it is important: This release is part of Louis Vuitton's strategy to test customer interest in digital-physical goods and NFTs. The brand recently opened a Discord server to engage with online communities and NFT holders. The addition of NFTs adds a culturally relevant digital layer to the brand's existing product strategy.

Designed by Nicolas Ghesquière, the Via Tile Trunk features the iconic Louis Vuitton checkerboard motif and made its debut at the Spring/Summer 2024 show. The digital version of the trunk is accompanied by a physical counterpart that owners can claim in March 2024. It is priced at EUR 6,000, and only available to owners of the Louis Vuitton Treasure Trunk NFTs.

The Via project by Louis Vuitton involves the release of phygital silver "Treasure Trunks" priced at EUR 39,000. The NFT tokens associated with the trunks are "soul-bound," discouraging flipping. Louis Vuitton has also enlisted influential personalities in the Web3 fashion space to advise on the project.

Louis Vuitton is selling a €6,000 digital mini trunk by Nicolas Ghesquière

What: Frasers Group has opened new stores for Sports Direct and Flannels at Gateshead’s Metrocentre, transforming the former Debenhams unit.

Why it is important: The transformation of the former Debenhams unit into flagship spaces for luxury fashion, sports retail, and a hybrid gym, offers a diverse range of experiences for shoppers.

The flagship 50,000sq ft Flannels store on the ground floor features luxury fashion brands like Givenchy, Marc Jacobs, and Vivienne Westwood, as well as contemporary brands such as Amiri and Off-White. It also includes a beauty shop with fragrance counters from Burberry and Moncler. The store now offers the newly-added Kylie Cosmetics and a Dermalogica Skin treatment room.

On the first floor, Frasers unveiled a new 50,000sq ft Sports Direct store with specialist areas for running, football, and outdoor sports across men’s, women’s, and children’s wear. The store also accommodates Frasers' USC, Games, and Evans Cycles brands. Additionally, the group's Everlast Gyms is opening its 10th elevated and largest hybrid gym, providing a variety of fitness areas, including a full-size boxing ring, saunas, and chill tubs.

Frasers Group opened ‘revolutionary’ Sports Direct and Flannels stores 

What: Kohl’s president exits after only 8 months in the job.

Why it is important: Finding the right COO is hard for retail companies. Keeping said COO becomes increasingly harder.

On Friday, Kohl's revealed through a Securities and Exchange Commission filing that its President and Chief Operating Officer, Dave Alves, who joined the company in April with extensive retail experience, has departed. Alves's departure, described as a move to pursue other opportunities, comes amidst Kohl's recent struggles, including pressures from activist investors and challenges in its leadership team. The company expressed gratitude towards Alves for his contributions. Kohl's, facing a 5% year-over-year decline in store comps and a 60% drop in profits in its most recent quarter, remains in a precarious position as it prepares to announce its Q3 results.

Kohl’s president, COO exits after less than a year

What: Reliance is aggressively expanding its private labels in free standing distribution in India.

Why it is important: Expect more Indian players expanding their private labels inside and outside their home turf.

Reliance Retail's beauty brand Tira is set to open its first store in the national capital region at DLF Avenue Mall, New Delhi, occupying about 3,000 sq. ft. previously held by Forever 21. The launch is part of a strategic mall rebranding effort to refresh the shopping experience. Right next to Uniqlo, this store adds to the Saket District Centre's allure as a key shopping destination in South Delhi.

Overseen by Isha Ambani, Mukesh Ambani's daughter, Tira aims to capitalize on India's booming beauty and cosmetics market. The brand, which began as an e-commerce platform in February 2023, has already established a flagship store in Mumbai and additional stores in Hyderabad and Chennai. Tira's retail spaces are known for their digital features, including a vending machine for beauty samples, and stock over 150 brands.

Further expanding its beauty portfolio, Reliance Retail recently acquired the India franchisee business of Sephora from Arvind Fashions. This move brought 26 Sephora stores across 13 cities under its wing. Tira also distinguishes itself with high-profile endorsements, having signed Bollywood celebrities Kareena Kapoor Khan, Kiara Advani, and Shah Rukh Khan’s daughter Suhana Khan as brand ambassadors.

Reliance to open Tira beauty store in Delhi