HONG KONG: Giordano sales plummet amid fierce competition
Giordano International, a leading retailer in Asia, is seeing sales at its Giordano clothing stores in Hong Kong plummet, as retail competition heats up in the region.
Blaming the financial crisis as the main reason for its poor performance Giordano said that retail store sales in January-March declined 12.8% from the same three months of 2008.
Sales in April were down 14.6% year-to-year.
The fears are the company may follow U-Right International Holdings, whose U-Right clothing stores once dominated in Hong Kong, but liquidated last October.
By Michael Fitzpatrick.
Help test our new apparel sourcing tool.
Fast fashion has for years been hailed as the "next big thing." But a glance at any major clothing store in Europe or North America would suggest fast fashion has already taken over the industry. What...
Japanese company Fast Retailing will be staging a campaign to mark 60 years in business, including lottery-style handouts....
Japanese retail chain Uniqlo has posted a 47.7% total sales increase for the month of October, as sales of winter items benefited from cooler weather....
Here is a roundup of the top five most-read stories on just-style. Click on each headline for the full story....
Japan's Fast Retailing Co Ltd is forecasting a 24.5% hike in profit for the year ahead, after surging sales at its Uniqlo casual clothing chain helped lift operating income to an eight-year high in th...
Cooler weather helped boost September sales of its autumn and winter clothing lines, cut-price apparel retailer Uniqlo said today (2 October)....
Japanese retail group Fast Retailing will focus the majority of its expansion on China, Hong Kong and Korea, according to a media report in the region....
Synthetic fibre maker Toray has announced further investments in its already burgeoning Chinese market....
- What TTIP might mean for US, EU textiles & apparel
- Four steps to reduce product defects
- Unlocks for the future fashion sourcing landscape
- Geo-political uncertainty and how to survive it
- EU eyes mandatory due diligence for apparel supply
- US Q4 in brief – PVH Corp, J Crew, Perry Ellis
- H&M, VF Corp and Levi among most ethical companies
- Sears has "substantial doubt" of future
- Vietnam limits hazardous chemicals in apparel
- PVH Corp to acquire e-commerce retailer True&Co
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective