China to emerge as leading maker of luxury goods, experts say

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25 May 2011 Sign up Forward Archive Advertise Global retail industry news   Global Industry Watch    Canadian retailer The Hudson's Bay in midst of a makeover The Hudson's Bay expects to complete renovations on 80 of its 91 stores in Canada by August. The retailer has been striving to reposition itself as a higher-end retailer as Target and Wal-Mart bolster their footprint in Canada's discount sector. The Toronto Star/The Canadian Press (24 May.) Health care reform got you down? Learn more from UnitedHealthcare on how the federal changes to medical benefits will affect you and your employees. This comprehensive guide highlights incentives for enrollment and a timeline of important dates and deadlines. Don't let them pass you by—Learn more here!   Retail in Europe    JJB Sports said it could take 5 years to turn around business JJB Sports reported a £181 million full-year loss and said a total recovery could take three to five years. The struggling UK retailer said first-quarter trading met expectations. JJB plans to overhaul 150 outlets as pilot outlets performed well. "The restructuring of JJB will not be easy or quick. The retail environment is challenging, will remain so for some time and we face intense competition," JJB said. Reuters (25 May.), The Guardian (London)/Press Association (25 May.) Other News IKEA's Greek franchisee Fourlis posts drop in quarterly profit The Economic Times (India)/Reuters (24 May.) Ad Compliance Best Practices Kit — Stay ahead of consumer concern and government regulation with TRUSTe. Gain an overview of what Behavioral Advertising (OBA) is, why it is important, and what your options are. Insights from the FTC, DAA, TRUSTe, Forbes, Publisher's Clearing House and more. Register Now.   Retail in Asia    Wal-Mart plans to ramp up presence in India with new megastores Wal-Mart Stores joint venture with India's Bharti Enterprises has seven outlets across India. Wal-Mart said it plans to open as many as 20 more megastores across the country over the next two years. "We plan to open eight to 10 stores this year" and about the same number in 2012, said Raj Jain, CEO at Bharti Wal-Mart. Google/Agence France-Presse (24 May.), The Economic Times (India)/Press Trust of India (24 May.), The Wall Street Journal (tiered subscription model) (24 May.) Marks & Spencer turns attention to emerging markets Marks & Spencer is looking to India, China and other emerging markets after posting better-than-expected increase in profit in difficult trading conditions. The retailing giant is planning to open 10 outlets in India and another six shops in China. "In November we set out our plan to grow M&S into a truly international, multichannel retailer," said Marc Bolland, CEO at Marks & Spencer. "We have made good early progress and are focused on both trading the business in the short term and on delivering against our long-term targets." Telegraph (London) (24 May.) Despite being a backbone enterprise application, Enterprise Resource Planning is often misunderstood. In this guide from Focus, top experts provide their suggestions and recommendations to guide you through your evaluation of the best choices. Unravel the complexities of ERP once and for all to make an informed buying decision by downloading this free white paper.   Retail in Latin America    Comercial Mexicana to invest $290 million to open new stores Executives from Comercial Mexicana said the Mexican retailer plans to open about 22 stores this year and next as it returns to modest growth following its debt restructuring. Jose Calvillo, chief financial officer at Comercial Mexicana, said the retailer expects about a 3% increase in same-store sales. The Wall Street Journal (tiered subscription model)/Dow Jones Newswires (24 May.) Utilize the Zurich Enterprise Risk Management Healthcheck assessment tool to get a better understanding of your current ERM strategy with recommendations for improvement. Sign up for FREE access today!   E-commerce Spotlight  China's Vancl could raise $1 billion through IPO in the US Vancl, an online clothing retailer based in Beijing, is planning to float in the US this year and could raise as much as $1 billion. It would be the largest IPO from China in the US this year. However, other Chinese Internet IPOs have suffered poor performance, which could temper expectations for Vancl's valuation. Reuters (24 May.) Yoox CEO: Not planning acquisitions, but not against idea Federico Marchetti, founder and chief executive officer at Yoox, said the online fashion retailer is not planning any takeovers but would consider acquiring a technology provider if the right opportunity arose. Yoox reported a 39% surge in first-quarter sales. Reuters (24 May.)   Spotlight on Luxury Goods  China to emerge as leading maker of luxury goods, experts say At the recent Walpole Luxury Summit in London, experts said China eventually will become a source of luxury goods. "I want to move away from the view that 'made in China' is only associated with cheapness," said Alison Mary Ching Yeung of the luxury brand Mary Ching. The Independent (London) (22 May.) Italian luxury brands to test men's-only outlets in China Gucci and Bottega Veneta, both of which are part of the French group PPR, are planning to open stores in China aimed at men, the country's biggest spenders. Men buy for themselves, but also for women, according to Francois-Henri Pinault, head of PPR. "The decision of buying for women is still made by men [in China]," Pinault said. The Wall Street Journal (tiered subscription model) (24 May.)   NRF News  How can retailers ensure accurate RFPs? An article suggesting that vendors do not always provide accurate responses to Requests for Proposal is prompting the Association for Retail Technology Standards to update the Master Agreement for its RFP process. In a STORES column, ARTS Executive Director Dick Mader outlines the issue and solicits comments on how retailers verify the accuracy of RFPs. Read more. Join NRF  |  NRF Events  |  FIRAE  |  STORES  |  Training and Certification   SmartQuote  He who is sorrowful can force himself to smile, but he who is glad cannot weep." --Selma Lagerlöf, Swedish author   This SmartBrief was created for cpgbrokers.data@blogger.com   Subscriber Tools       Update account information | Change e-mail address | Unsubscribe | Print friendly format | Web version | Search past news | Archive | Privacy policy Grab our News Widget Publish your Press Release   Advertise Associate Publisher:  Susan W. 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