PARIS — Hong Kong retailer Lane Crawford is charging into Mainland China.
The firm on Thursday revealed plans to open "several" wholly owned stores in key Chinese cities over the next five years, beginning with an 80,000-square-foot unit in Beijing's new Seasons Place mall.
That store, which Lane Crawford said involves an investment of 300 million Hong Kong dollars, or $38 million at current exchange, is slated to open in October. It will feature some 600 brands, including Prada, Givenchy, Stella McCartney, Alexander McQueen and Maison Martin Margiela.
Jennifer Woo, the retailer's president, said other cities targeted for openings include Shanghai and Macao.
The Beijing store, designed by the Yabu Pushelberg architectural firm, features a towering multimedia wall and an undulating glass facade.
"We have conducted extensive market research, and with the ever-increasing number of high-net-worth individuals and affluent customers supported by an aspirational market of approximately 4 million in Beijing, we believe there are exciting opportunities for Lane Crawford in this market," said Woo.
Lane Crawford's move into China comes as international retailers look for new markets in which to expand.
France's Galeries Lafayette is working on a store in Dubai, and is also studying the possibility of opening in China. Harvey Nichols has already opened in the Middle East, Istanbul and Hong Kong. It plans to open a store in Jakarta, Indonesia, next year. Saks Fifth Avenue, which also runs stores in the Middle East, is working on a unit in Shanghai.
With the Summer Olympics scheduled for Beijing next year, retailers anticipate a surge in visibility and spending.
"Our research shows that there is a Beijing customer with a desire to differentiate themselves," said Woo. "The China fashion customer is one of the most sophisticated and brand-savvy in the world today."
As part of the new expansion plan, Lane Crawford said it discontinued its former license and franchise operations in China's Shanghai, Hangzhou and Harbin.
Lane Crawford operates more than 450 stores in 46 markets across Asia, including its namesake stores, Joyce Boutique and Imaginex.
On Thursday, Lane Crawford also said same-store sales for its fiscal year, which ended in March, advanced 23 percent. It did not provide further details.
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)
As one of the most recognizable models in the world, Christy Turlington Burns has an insider’s view of the fashion industry and the allegations of sexual harassment swirling around it. “I can say that harassment and mistreatment have always been widely known and tolerated in the industry. The industry is surrounded by predators who thrive on the constant rejection and loneliness so many of us have experiences at some point in our careers,” Turlington told WWD, along with her suggestions for how the modeling world should protect younger women and men. Read more on WWD.com. Link in bio. (📷: Tony Palmieri) #wwdnews
@asics America has tapped a new brand ambassador: famed DJ/record producer @steveaoki. This initiative is intended to set the tone for the new brand identity and philosophy and will include partnerships with influencers and in-store and off-line activations that will continue into next year. This is Asics’ most significant marketing effort in two decades, and is expected to attract younger consumers to the brand. #wwdfashion
24-year-old Jean Prounis is redefining the rules of jewelry. Formerly a studio assistant to Jemima Kirke and a design apprentice at Ghuran, she focuses on handcrafted subtleties and ancient goldsmithing techniques. “There was a really sterile feel in the environment and I wanted to have jewelry with character that shapes how you wear it everyday,” Prounis said. Each piece is hand made in New York, either by Prounis or three other jewelers in the district. #wwdfashion
“These collections continue to build on that vision, empowering differently abled adults to express themselves through fashion,” said @tommyhilfiger of his line of adaptive apparel, which launches today. The line consists of 37 men’s and 34 women’s styles based upon the pieces from the spring Tommy Hilfiger sportswear collection. #wwdnews