The term ‘shop till you drop’ throws light on the current enthusiasm for shopping. Because looking presentable is important in every aspect of life, and these days one’s wardrobe is key to making a favorable impression on the world. There is something for every occasion and place- evening wear, office wear, party wear, bridal wear, festive wear, casual wear; the list is endless. And the world retailers are making certain that the experience in the store is enriching for both – the customers and the store. Here ten most recent mentionable activities from those retailers who are sourcing from Bangladesh. Any feedback: email@example.com
H&M sales lift 16.74% in Q4FY14
Net sales lifted 16.74 per cent year on year in the fourth fiscal quarter ending November 30, 2014, at one of the biggest global apparel retailer and Sweden based, H&M Group. As per provisional figures, for the fourth quarter of 2014, H&M recorded net sales at SEK 42,605 million as against SEK 36,495 million in the corresponding quarter of 2013. As of November 30, 2014, number of stores managed by H&M too surged to 3,511 compared to 3,132 outlets on November 30, 2013. For November, H&M said its sales in local currencies inclusive of VAT increased by 10 per cent from that reported in November 2013.
China’s JD.com to sell Gap clothing
China’s JD.com Inc. has partnered Gap Inc. to sell the US clothing retailer’s apparel online in China, as the Beijing-based e-commerce company goes head to head with Alibaba Group Holding Ltd to woo big foreign fashion names. Alibaba and JD.com, China’s No. 1 and 2 e-commerce companies respectively, are vying to ink deals with some of the world’s most recognized brands, which offer big boosts in both sales and image at home and overseas.
By announcing its partnership with JD.com in a joint statement, Gap – which already has a store on Alibaba’s Tmall website – would be the latest in a list of foreign companies to sign with some of China’s biggest Internet firms, including Tencent Holdings Ltd. JD.com this year signed international brands including Levi’s, Skechers USA Inc and Quicksilver. Meanwhile, Alibaba has been bringing in brands such as Fast Retailing Co Ltd’s Uniqlo, ASOS PLC, and high fashion names like Burberry Group PLC.
Nike sales surge in Q2
Athletic apparel and equipment giant, Nike, released its second quarter results for the 2015 fiscal year, reporting a 15 percent growth in sales reaching $7.4 billion, due to strong consumer demand. The report revealed a 7 percent increase on worldwide future orders, scheduled for delivery from December 2014 through April 2015. Excluding changes in currency, orders would have reached 11 percent. The company also reported an increase in gross margin, up 120 basis points to 45.1%, thanks to a shift in mix to higher margin products, and a rise in earnings, up 23 percent to $655 million. Diluted earnings per share increased 25 percent to $0.74.
Tesco partners with Union to improve U.K. garment supply chain
Tesco signs a groundbreaking partnership agreement with Community to improve conditions in its UK garment supply chain. The partnership follows ongoing concerns about workers in the UK garment sector and the sector as a whole facing a range of problems, including cases of under payment and non-payment of the minimum wage, excessive working hours, fraudulent declaration of earnings, worker abuse, illegal deductions from earnings and unauthorised sub-contracting. Both Community and Tesco are determined to ensure that these issues do not occur in the UK Garment supply chain, and to support suppliers to manage responsible workplaces. The new agreement will see both organisations working together to identify areas for improvement, carrying out joint assessments and developing improvement plans for UK garment manufacturers.
Zara eyes the home goods market
The world’s largest retailer, Inditex, hopes to score big with Zara Homes. A report said that the Spanish retailer is pushing to have home goods stores everywhere its clothing store operations. During the nine months ended Oct. 31, Zara Home opened nine more stores, bringing the total number of locations to 420 worldwide.Zara Home sales are growing at a faster pace than all of Inditex brands, including Zara and Massimo Dutti. However the store has a ways to grow to compete with home good giants like Ikea, which is forecasted to be worth $695 billion by 2018. In 2013, Zara Home reached $555 million in sales.
Rihanna to partner with PUMA
PUMA and Global Cultural icon Rihanna, announced a new multi-year partnership, kicking off in January 2015. Rihanna will become PUMA’s global ambassador for Women’s Training and serve as the PUMA Women’s Creative Director, bringing her styling sensibilities and innovation to PUMA’s collections. Embodying everything that PUMA stands for, Rihanna’s unstoppable spirit, creative energy and prowess both on and off the stage, make her the perfect representation of the PUMA brand.
Through this partnership, Rihanna will be the face of PUMA’s Women’s Training category. Fans can anticipate PUMA and Rihanna taking a fresh, forward thinking and non-traditional approach to sports, fitness and lifestyle – fusing Rihanna’s personality, love of sports, spirit and style into the growing footwear and apparel segment. No stranger to breaking the mold with beauty, fashion and lifestyle trends, Rihanna, with PUMA’s support, will bring her personal touch and creativity to the athletic world.
Speaking about the new partnership with PUMA, Rihanna said: “It’s great to find a brand that celebrates strength and inpiduality. I couldn’t think of a more perfect partner to collaborate with as a creative director. I’m excited for you to see what Puma and I come up with.”
PVH Corp Beats Earnings Estimate in Q3
Apparel giant PVH Corp., owner of the Calvin Klein and Tommy Hilfiger mega-brands and Van Heusen, IZOD, Speedo, Warner’s and other category-specific apparel brands, reported third-quarter adjusted earnings of $2.56 per share not only came ahead of its own guidance range of $2.45-$2.50 but also the Zacks Consensus Estimate of $2.48 per share. Moreover, the company’s adjusted earnings were nearly 11% higher than the year-ago comparable period figure of $2.30 per share.
PVH Corp.’s total revenue fell 1.2% to $2,233.1 million from $2,259.1 million in the prior-year quarter. The prior-year figure includes revenue of $67 million from the pestment of Bass business on the first day of fourth-quarter 2013. Excluding the same, the company’s total revenue registered year-over-year growth of nearly 2%. The year-over-year increase in revenue was attributed to decent sales contributions from all three business segments. However, quarterly revenue fell short of the Zacks Consensus Estimate of $2,260 million. Total adjusted gross profit improved year over year by a marginal 0.2% to $1,170.4 million while as a percentage of sales it expanded 70 basis points (bps) to 52.4%.
Li & Fung buys Primark supplier May Trading
The Hong Kong-based global supply management group Li & Fung has acquired May Trading UK, the company that supplies British brands like Primark, Topman and Next. May Trading is now one of three companies sitting under LF Europe’s private label European Apparel Group (EAG). The other two are London-based manufacturer Just Jamie and Visage, which has a head office in South Shields, Tyne & Wear. Both design and produce womens wear, menswear and kids wear.
Li & Fung, which generated revenues of 8.7 billion dollars (5.6 billion pounds) in the first six months of this year, is the world’s largest supplier of clothes and toys to retailers. It recently spun off its brands management unit, Global Brand Group, which manages over 350 licenses for brands like Coach, Tommy Hilfier, Calvin Klein and Guess, to focus on its core supplier business.
Lululemon Athletica Q3FY15 revenue climbs in double digits
Revenue at yoga inspired athletic apparel marketer, Lululemon AthleticaInc climbed in double digits, year on year for the third quarter ended November, 2014. For the third quarter of 2014, net sales rose 10 per cent to $419.4 million from $379.9 million in the third quarter of 2013. Comparable store sales for the third quarter however, declined 3 per cent on a constant dollar basis, while direct to consumer revenue surged 27 percent on a constant dollar basis.
Direct to consumer revenue grew to $77.2 million or 18.4 per cent of total revenues in the third quarter of 2014, an increase from 16.3 per cent of total revenues in the third quarter of 2013. Gross profit for the reporting quarter expanded by 3 per cent to $211.1 million and as a percentage of revenue, gross profit eased to 50.3 per cent from 53.9 per cent in same quarter of last year. Income from operations for the quarter under review slipped 12 per cent to $81.2 million, and as a percentage of net revenue was 19.4 per cent also down from 24.3 per cent from the prior year quarter.
Adidas says long-term partnerships key to global sourcing model
Adidas says long-term partnerships are the key element of its sourcing model as it celebrates more than 25 years of manufacturing in Indonesia.Instead of frequently changing suppliers depending on which one can offer the same product for the cheapest price, Adidas said it focuses on key long-term partners that are transparently disclosed in its global supplier list. The relationship with these core suppliers has existed for over a decade, it claims.This year the company celebrated more than 25 years of sourcing in Indonesia, one of its key sourcing locations.Adidas initially started sourcing footwear and apparel in Indonesia and now sources accessories and gear as well. Its Adidas Predator football boot has been consistently produced in Indonesia over the last 20 years.