5 retail lookout: Let's head to Asia
While the French giant LVMH is selling Marc Jacobs and buying Milan's Kiko, let's head to Asia: 1....
5 MOST EAGERLY-AWAITED STORE OPENINGS
5 MOST EAGERLY-AWAITED STORE OPENINGS
While stores are decked out in their finest decorations to celebrate the end of the year, the olympic games are approaching in Paris and stores are getting ready for the games.
Let's look to the future and the most eagerly-awaited store openings and what does it mean for the future of retail.
LOUIS VUITTON IS OPENING ITS FIRST HOTEL IN PARIS, AND GUESS WHERE?
“Don’t think big — think huge!” Pietro Beccari, Louis Vuitton chief executive officer.
The company announces a future 6000m2 Louis Vuitton hotel and the world's largest LV flagship store in Paris by 2026, in place of its current headquarters.
The launch of this inaugural hotel on the Champs Elysées in Paris marks a bold and thrilling venture for the esteemed luxury label. This move is poised to significantly influence its brand perception and prestige, while also enhancing customer engagement and loyalty. The establishment aims to be a bastion of luxury, embodying Louis Vuitton's expertise, lifestyle, and innovative spirit, while offering an unparalleled, unforgettable stay for visitors. Nonetheless, the venture comes with its own set of challenges and risks, including the need to maintain a competitive edge and distinct identity, as well as ensuring alignment with the brand's ethos and market dynamics. In navigating these waters, Louis Vuitton must exercise caution and strategic acumen in both the development and management of the hotel to fulfill its envisioned goals and aspirations.
UNIQLO TO OPEN ITS FIRST STORE IN ROME IN SPRING 2024
The first Uniqlo store in Rome will be inaugurated in the spring of 2024, on the north-west side of the Galleria Alberto Sordi. This is Uniqlo’s second store in Italy, after the opening of the first store in Piazza Cordusio in Milan in September 2019. The store, with a retail area of over 1,300 square meters across three floors, will showcase the brand's womenswear, menswear and children's wear lines.
Uniqlo has also developed the Indian market this year with a store opening in July in Mumbai.
NEW STRATEGIC LOCATION FOR CALVIN KLEIN
Calvin Klein, is gradually repositioning its offer and clarifying the lines between its Jeans by CK and Calvin Klein proposition.
The storefront at 44 avenue des Champs-Elysées, previously occupied by the ephemeral concept for the Netflix series Stranger Things, is marked by Calvin Klein's black-and-white visuals. A few months ahead of the Paris Olympic Games, which are expected to attract a large number of international tourists to the flagship avenue, the American brand of the PVH Corp group has given itself a space of several hundred square meters.
The new Calvin Klein Store in Milan
45% OF PEOPLE IN THE UK HAVE A FRAKTA BAG AT HOME
Oxford Street as a new impressive storefront, an iconic gigantic IKEA FRAKTA bag. A simple but striking display of brand identity to get shoppers excited about the new store.
The store should open Autumn 2024. There will be four floors of offices, and the brand will occupy 82,000 square feet of the retail space.
Peter Jelkeby, the CEO and Chief Sustainability Officer at Ikea UK, said:
“By having a presence at one of the most iconic shopping destinations in the world, we’re taking a significant step forward in our ongoing journey to make it easier to shop with Ikea – whenever, wherever, and however customers choose.”
TOYS"R"US RESURFACES IN THE U.S.
Six years after declaring bankruptcy, Toys "R" Us is set to make a triumphant return to the U.S. with the opening of 24 stores in 2024. This revival comes after the brand's 2017-2018 crisis, where it closed all U.S. stores following a poor holiday season. The iconic brand, established in 1948 by Charles Lazarus and known as the first big-box toy store, plans to diversify into the travel industry with additional stores in airports and on cruises. Famous for its vast selection of toys and the memorable jingle, "I don't want to grow up, I'm a Toys "R" Us kid", Toys "R" Us was a staple for children from the 1980s to the early 2000s. The announcement, made by parent company WHP Global, marks a significant step in the brand's resurgence, highlighting its enduring appeal and market potential.
WHAT DOES THOSE store openings mean for the future of retail?
The future of retail, as heralded by these upcoming openings reflects a transformative era where brands are merging traditional shopping with immersive experiences. These developments suggest a shift towards creating spaces that not only sell products but also embody the lifestyle, culture, and identity of the brand. This trend points to a more engaging, dynamic, and experiential retail environment, promising a new era of consumer interaction and brand loyalty.
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