Asia continues to deliver the numbers – the happy retail numbers of solid sales growth!
LVMH reported 14.8% sales increase in their 3rd quarter, and mentioned foreign mixed markets. Bain Consulting Group recognizes that Asia’s luxury sector is increasing by 10%. Expect to see continued growth in Asia, both in sales and in expansion of retailers.
Meanwhile on a more local note, Joe’s Jeans 3rd quarter numbers are up 25% to $30.3 MILLION.
Remember the Chanel Cruise Show (the shoes, the hair, the Versailles Palace, OH KARL!!!!), any who…a philanthropist from Beverly Hills, SUsan Casden, and SAKS 5th Avenue created an encore presentation on her tennis courts! (phenomenal photo courtesy of NYMagazine).
Canadian retailer Hudson’s Bay (think awesome striped thick hunting blankets like the one in the picture that is actually the cover of an uber cool coffee table book!) is looking to go public. Other than The Bay, Hudson’s Bay also owns Lord & Taylor & Home Outfitters, with a total of 207 retail locations. This IPO is projected to raise $392 MILLION, although the ticker will be listed on the Toronto Stock Exchange.
reversecommuter went to a roadshow for a potential Hudson’s Bay IPO over 10 years ago (in another life) and it fizzled. Looks like a new CEO with a taste for real estate investments, a strong real estate market and some solid natural resources can bring life back to anything. This one is going to be interesting.
Have a TREMENDOUSLY FASHIONABLE weekend!