Apparel Online India Magazine March 1st Issue 2019 | Page 14

RETAIL CURRENT TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Bossini International's heavy losses attributed to warm winter The heavy losses incurred by Bossini International – the Hong Kong-based apparel brand owner and retailer – in the 6 months up to December 2018 have been attributed to warm winter as well as poor consumer sentiments in core markets. Bossini witnessed a 10% slump in group revenue to touch US $ 111.5 million. Besides, it also saw a 5% fall in same-store sales for the same period. The gross profit slumped by 11% whereas the loss accredited to shareholders for the same period was as much as US $ 3.3 million. It is worth noting that the operating profit in Hong Kong and Macau markets has been on the rise for the apparel retailer despite a fall of 5% in same-store sales. In Singapore too, sales nosedived (23%) mainly due to store closures, whereas same- store sales dipped by 6% . In Taiwan and Mainland China, the same-store sales fell by 7% and 3%, respectively. Strong inbound tourism, especially from Mainland China, was recorded in Hong Kong. However, the consumption per capita started declining in Q3, despite the yearly increasing numbers of tourist arrivals in Hong Kong. Esprit comes up with two new Europe stores asserting its rebuilding process The month of February witnessed the launching of two new Esprit stores in Europe ascertaining brand’s rebuilding process. According to a recent news release issued in Germany, the brand’s outlet in the city of Liege in Belgium stocks some of the finest collections of ladieswear. Spread over an area of 400 square metres, the modern and bright store design creates a pleasant and warm atmosphere for the shoppers. One of the major attractions of the store is a denim wall in front of a brick wall painted in light grey. Also, the artistic floor comprises terrazzo tiles and oak parquet adding to the beauty of the store. The brand’s continual focus on e-commerce is also reflected in the store, as the shoppers can choose 14 Apparel Online India | the products ordered online from the click & collect area. The other store at Wolfsburg, Germany will be showcasing both menswear and womenswear. “Customers have been asking MARCH 1-15, 2019 | www.apparelresources.com for an Esprit store at the centre for several years; we are delighted to be able to fulfil this wish now,” said Michael Ernst, Centre Manager, Designer Outlets Wolfsburg. Amidst severe losses, 2018 saw Esprit launch a huge overhaul of its business with a new management team at the helm, promising changes to product, its retail network and its e-commerce offer.