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Saturday 16 July, 2016

Italy luxury group Tods consider closing parts of Hong kong stor

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Rents remain high, the market performance has not improved, Italy luxury group Tods consider closing some of Hongkong stores, and cut shop plans. Tods released in 2015 reported that in the fixed exchange rate, although the group's sales rose 1.8%, but by the impact of operating and financial costs, the group net profit fell to 9270 euros from 9710 euros last year. TodsTods chief financial officer Emilio Macellari said that the Hongkong market is the only negative performance and no improvement trend.
For the Tods group, the high cost of rent in Hongkong area is still a big problem. Tods group had discussions with the owners, but still failed to reach a consensus. Group or the Hongkong area will be closed in 14 shops in the 1-2 home. Macellari Tods revealed that the group plans to open 15-20 new stores. But because the group is considering closing some stores, it may lead to the final total number of stores less.
Last year the group opened a total of 25 new stores. Luxury brands in the near future, according to RET, China's commercial real estate research center statistics, last year, Vuitton Louis, Cucci and other top 11 luxury brands, a total of 34 stores, the number of newly opened stores only 14. Among them, the Vuitton Louis clearance shop is the largest, there is news that Vuitton Louis will close about two or three stores in the first half of the 20% lines of the city. In 2013, LVMH and heart development China's second tier market. At that time, LVMH, Bernard Arnault said LVMH will launch price slightly lower flagship brand logo merchandise, entered the Chinese market in the second tier cities.
Market changes, last year, Louis Vuitton closed three stores, the end of the month would also end stores in Shanghai Huaihai Zhong Road, Lippo Plaza store and a home in Taiyuan, Shanxi. Expert of luxury goods, luxury goods authoritative research institutions wealth Quality Research Institute president zhouting said the strategic adjustment, the new store layout of active closed shop behavior is the major brands to meet consumer market and upgrading to make the positive adjustment of.

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