What: Falabella Retail has launched a new season of its "Verde Talks," a series of discussions focused on sustainability topics.

Why it is important: This initiative underscores Falabella's commitment to promoting sustainability and raising awareness about environmental issues, aligning with global trends towards more sustainable business practices.

Falabella Retail has introduced a new season of "Verde Talks," a series dedicated to exploring various sustainability themes. These talks aim to engage audiences in meaningful discussions about environmental responsibility and sustainable practices. By focusing on sustainability, Falabella is reinforcing its dedication to environmental stewardship and contributing to the broader conversation on sustainable development within the retail industry.

Falabella Retail launches new season of Verde Talks on sustainability

What: Galeries Lafayette is celebrating its 130th anniversary by hosting an exclusive dining experience under the iconic dome of its Parisian store.

Why it is important: This event marks a significant milestone for Galeries Lafayette, highlighting its historical and cultural influence in Paris while showcasing its ability to innovate and offer unique experiences in the competitive retail landscape.

Galeries Lafayette, one of Paris's most renowned department stores, is commemorating its 130th anniversary with an extraordinary dining event beneath its iconic dome. This celebration honors the store's rich history and its role as a cultural and commercial landmark in Paris. By transforming its space to host this exclusive culinary experience, Galeries Lafayette emphasizes both its architectural beauty and commitment to providing unique and memorable experiences for patrons. The event involves meticulous planning, from sourcing high-quality ingredients to ensuring exceptional service within a bustling retail environment. Hosting a restaurant in such a unique setting presents logistical challenges, including maintaining kitchen operations at scale and creating an intimate dining atmosphere amidst the grandeur of the dome. This initiative reinforces Galeries Lafayette's status as a key player in Parisian retail and culture, attracting both locals and tourists to partake in this once-in-a-lifetime experience that blends tradition with modernity.

Galeries Lafayette celebrates 130 Years with exclusive dome dining experience

What: Galeries Lafayette has collaborated with designer Igor Dieryck to launch an exclusive knitwear capsule collection.

Why it is important: This collaboration highlights Galeries Lafayette's commitment to showcasing innovative and sustainable fashion by partnering with emerging designers like Igor Dieryck, thereby enhancing its reputation as a leader in contemporary fashion retail.

Galeries Lafayette has unveiled a new knitwear capsule collection in collaboration with designer Igor Dieryck. The collection features a range of knitwear pieces that emphasize sustainability and craftsmanship. Dieryck, known for his innovative approach to knitwear, has created designs that blend traditional techniques with modern aesthetics. This partnership is part of Galeries Lafayette's strategy to support emerging talent and offer exclusive, high-quality fashion to its customers

Galeries Lafayette launches knitwear capsule with Igor Dieryck

What: Galeries Lafayette has enlisted designer Kevin Germanier to create its Christmas window displays.

Why it is important: This collaboration highlights Galeries Lafayette's commitment to artistic innovation and enhances its festive appeal, drawing crowds and boosting its reputation as a leading fashion retailer.

Galeries Lafayette has partnered with designer Kevin Germanier to design its Christmas window displays, showcasing a blend of creativity and festive spirit. This collaboration aims to captivate audiences with unique and artistic presentations, reinforcing Galeries Lafayette's position as a prominent and innovative player in the retail industry during the holiday season.

Galeries Lafayette's Christmas windows: Kevin Germanier's creative touch

What: Boyner is hosting the "Boyner Dynamic Fest" in Istanbul, a vibrant event combining sports, wellness, and entertainment on September 28-29.

Why it is important: This festival highlights Boyner's innovative approach to retail by integrating active living and experiential concepts, aiming to engage a wide audience and promote a healthy lifestyle, which can enhance brand loyalty and community engagement.

Boyner is set to host the "Boyner Dynamic Fest" in Istanbul, an event designed to blend sports, wellness, and entertainment, reflecting the company's new store concept, Boyner Dynamic. The festival, taking place at Bonus Parkorman, will offer a variety of activities across three stages, including sustainable nutrition workshops, training techniques, and mental health-focused sessions like laughter yoga. The event is free and open to all ages, featuring activities such as running, spinning, and creative workshops. Boyner CEO Eren Çamurdan describes the festival as a groundbreaking initiative that embodies the company's commitment to experiential retail and active living, inviting everyone to participate in this dynamic celebration.

Boyner to electrify Istanbul with wellness and fun at Dynamic Fest

What: Thailand's The Mall Group wins Technology Excellence Award for innovative AR navigation solution in retail.

Why it is important: By integrating AR technology into its malls, The Mall Group demonstrates the growing importance of experiential retail in attracting and retaining customers, while also providing new marketing opportunities for brands.

The Mall Group has been awarded the Thailand Technology Excellence Award in the Virtualisation - Retail category for its innovative indoor augmented reality (AR) navigation solution. This system enhances the shopping experience by allowing customers to view accurate route information and points of interest overlaid on real-life images within the mall. The AR Navigation not only makes it easier for shoppers to find their way but also serves as a powerful marketing tool for retailers.

The technology enables brands to expand their distribution channels by displaying 3D models in AR space, effectively communicating promotions, benefits, and discounts to shoppers. The system also incorporates safety features, such as displaying a purple screen when approaching escalators to prompt customer caution. Additionally, it offers dedicated pathways for customers using wheelchairs and strollers, ensuring a more accessible shopping experience.

Introduced during the Chinese New Year festival, the AR Navigation system aims to generate excitement and encourage customers to try the new feature within the mall's loyalty app. The solution has yielded impressive results, with a 31% increase in customers' session duration, a 327% growth in page views per session, and a 9% increase in active loyalty app users.

IADS notes:

The Mall Group's AR navigation system is part of a broader strategy of digital transformation and customer engagement . The company has been consistently innovating in the retail space, with previous implementations including "chat and shop" services, live stream shopping events, and plans for further AR and VR integration. This focus on technology-driven, immersive experiences aligns with the company's overall direction, as evidenced by the recognition of its CMO, Voralak Tulaphorn, as one of Thailand's top marketing executives for her emphasis on digital platforms and customer engagement. The Mall Group has also been actively rebranding its physical spaces to create more experiential retail environments  and expanding its reach through strategic partnerships to attract both local and international customers. This AR navigation system represents another step in The Mall Group's ongoing efforts to redefine the retail experience in Thailand.

The Mall Group bags Thailand Technology Excellence Awards 2024 for AR navigation system 

What: Motier, the family holding company managing Galeries Lafayette and La Redoute, has appointed Carole Ferrand as the new Director of Strategy and Development.

Why it is important: This appointment signifies a strategic shift within Motier, as the company aims to enhance its strategic vision and explore new growth opportunities under Ferrand's leadership, leveraging her extensive experience in management, finance, and mergers and acquisitions.

Motier, the holding company of Galeries Lafayette and La Redoute, has appointed Carole Ferrand as the Director of Strategy and Development, a newly created position. Ferrand brings over 30 years of experience in management, finance, and mergers and acquisitions, having held significant roles at PricewaterhouseCoopers, Sony France, EuropaCorp, and Capgemini. Her mission at Motier includes defining and deploying the company's strategic vision, managing portfolio investments dynamically, and identifying new growth and development opportunities. This appointment follows a recent change in governance at Motier, with Philippe Houzé taking over the presidency from Ginette Moulin. Motier Ventures, part of the holding, continues to invest in tech startups, indicating a broader strategic focus on innovation and growth.

New director of strategy and development at Galeries Lafayette 

What: El Corte Inglés ranks second in Spain's corporate reputation index for 2024, with a 91% score.

Why it is important: The strong reputation score highlights the retailer's ability to maintain brand value and consumer confidence, crucial factors in today's competitive market where reputation directly impacts purchasing decisions.

El Corte Inglés has secured the second position in Spain's corporate reputation ranking for 2024, achieving a 91% score. This places the retail giant just behind Fundación La Caixa (95%) in a study conducted by Advice Strategic Consultants. The top ten list includes other major companies such as CaixaBank, Inditex, and Telefónica.

The study analyzed 40 factors grouped into three main constructs: business success, social commitment, and trust. For El Corte Inglés, business success carries the most weight (40%), followed by trust (35%) and social commitment (15%). This contrasts with Fundación La Caixa, where social commitment is the primary driver of its reputation.

Jorge Díaz Cardiel, partner-director of Advice Strategic Consultants, emphasizes that corporate reputation in 2024 is not merely theoretical but has tangible effects on consumer behavior. It influences decisions to purchase products and services, recommend them to others, and impacts companies' bottom lines.

This high ranking comes at a time when El Corte Inglés has shown strong financial performance, with recent fiscal results demonstrating significant growth in turnover and profitability, despite challenges in the retail sector.

IADS Notes:

El Corte Inglés has demonstrated remarkable financial and strategic resilience in recent years. The company's 2023-2024 fiscal results show significant growth, with turnover reaching EUR 15,327 million, a 22.5% increase, and record-breaking EBITDA and net results. This success comes despite challenges such as the rise of e-commerce and the COVID-19 pandemic. The company has focused on improving profitability and reducing debt, bringing it down from EUR 5 billion to around EUR 2 billion. Looking ahead, El Corte Inglés is preparing a new strategic plan through 2030, emphasizing traditional retail with increased digitalization. Additionally, the company has shown commitment to sustainability by increasing its sustainable product offerings by 8.5%, implementing internal protocols for sustainable procurement and production.

El Corte Inglés ranks second in terms of best corporate reputation, after a bank

What: Falabella has introduced a new edition of its second-hand fair.

Why it is important: This initiative highlights Falabella's commitment to sustainability and the growing trend of second-hand shopping, which can attract environmentally conscious consumers and promote circular fashion.

Falabella, a prominent retail company, has launched a new edition of its second-hand fair, reinforcing its dedication to sustainable fashion practices. This event aims to allow consumers to purchase pre-owned items, encouraging the reuse and recycling of fashion products. By hosting this fair, Falabella is tapping into the increasing consumer demand for sustainable shopping options and promoting a circular economy. The initiative not only aligns with global sustainability goals but also positions Falabella as a leader in environmentally responsible retailing.

Falabella unveils a new edition of its second-hand fair

What: Breuninger has successfully hosted fashion shows at its location in Düsseldorf.

Why it is important: This event highlights Breuninger's strategic expansion and its commitment to establishing a strong presence in Düsseldorf, enhancing its brand visibility and influence in the fashion industry.

Breuninger has captivated audiences with its fashion shows held at a newly opened location in Düsseldorf. The event showcased a range of fashion collections, drawing significant attention and acclaim. By choosing Düsseldorf as the site for these shows, Breuninger aims to strengthen its market presence and engage with a broader audience, reinforcing its status as a leading fashion retailer.

Breuninger fashion shows impress at new Düsseldorf location

What: Ms. Supaluck Umpuj has been awarded the Her Awards, UNFPA Thailand 2024 for Female Population Inspiration.

Why it is important: This accolade recognises Ms. Umpuj's influential role in the global retail industry and her contributions as an inspirational leader for women, highlighting her impact on both business and gender equality.

Ms. Supaluck Umpuj, the Executive Chairman of The Mall Group Co., Ltd., has been honoured with the Her Awards, UNFPA Thailand 2024: Female Population Inspiration. This prestigious award celebrates her achievements in creating a global retail phenomenon and her role as a trailblazer for women in business. The award ceremony took place at the ESCAP HALL meeting room, United Nations, Ratchadamnoen, Bangkok. Ms. Umpuj's leadership and vision have significantly contributed to advancing gender equality and empowering women in the corporate world. Her recognition by UNFPA underscores her dedication to inspiring future generations of female leaders.

Ms. Supaluck Umpuj was honoured with Her Awards, UNFPA Thailand 2024

What: The Mall Group Co., Ltd. has won three awards at the "Marketing Excellence Awards 2024," showcasing its leadership in the marketing sector.

Why it is important: These accolades highlight The Mall Group's innovative marketing strategies and its ability to engage customers effectively, reinforcing its position as a leader in Thailand's retail industry.

The Mall Group Co., Ltd., a prominent leader in Thailand's retail sector, has achieved significant recognition by winning three prestigious awards at the "Marketing Excellence Awards 2024." This event, organized by MARKETING-INTERACTIVE, celebrates outstanding marketing achievements across various industries in Asia. The Mall Group was honoured with the Excellence in CSR Cause Marketing Award for its M Heart "Sai Lohit Sai Jai" campaign, demonstrating its commitment to corporate social responsibility. Additionally, the company received the Excellence in Customer Engagement Award for the Platinum M – Platinum M Curated Dining campaign, showcasing its innovative approach to customer interaction. Lastly, it won the Excellence in Retail Shopper Marketing Award for the Bangkok Shopping Festival 2023 (Kung-fu Shopping) campaign, highlighting its creative retail strategies.

These awards reflect The Mall Group's dedication to excellence and innovation in marketing, as well as its influence in shaping the retail landscape in Thailand. The recognition from an independent panel of judges comprising industry leaders and senior marketers underscores the company's success in delivering impactful and creative marketing solutions.

The Mall Group triumphs at Marketing Excellence Awards 2024

What: SKP, despite challenging market conditions, continues to expand its footprint and open new stores, including its latest location in Wuhan.

Why it is important: SKP has established itself as one of the world's premier luxury retail destinations, maintaining its growth trajectory even amidst broader economic challenges.

SKP, a luxury department store chain under the Beijing Hualian Group, celebrated the grand opening of its new outlet in Wuhan, Hubei province, on July 26. The store generated CNY 100 million (USD 13.8 million) in sales on its launch day and has attracted over 100,000 visitors since its trial opening on July 13. This Wuhan location marks the fourth store for SKP, joining its outlets in Beijing, Xi'an, and Chengdu.

The new Wuhan store also features SKP-S, a sub-brand targeting Generation Z consumers with a curated selection of designer brands focused on youth culture and luxury retail. Despite the rise of e-commerce and livestream shopping, high-end department stores like SKP continue to perform strongly. In 2022, SKP's Beijing store reported a revenue of CNY 24 billion, which rose to CNY 26.5 billion in 2023. The Xi'an location, however, saw a revenue decrease from CNY 9.5 billion in 2022 to CNY 8 billion in 2023, while the Chengdu store reported CNY 5.5 billion in revenue last year.

The expansion of high-end retail continues across China, with new outlets such as Shenzhen Coastal City's second location and the first Mixc store in Guiyang by China Resources. This sustained growth underscores the strong demand within China's luxury market, which is projected to increase by 3 percent to USD 240 billion this year, according to the Hurun Chinese Luxury Consumer Survey.

The luxury retail sector's growth in China contrasts with the global luxury market, which has seen slower growth this year. However, regions like Europe and Japan have benefited from increased luxury tourism, particularly from Chinese travellers, bolstered by favourable currency conditions.

SKP's strategy of combining traditional retail with targeted marketing campaigns and a focus on younger consumers seems to be paying off, as it continues to strengthen its position as a leading luxury retail destination in China.

SKP keeps on growing

What: Manor is an event partner at the 77th Locarno Film Festival, presenting the Honorary Leopard award and offering exclusive experiences for myManor customers.

Why it is important: Manor's involvement underscores its commitment to the arts. It enhances the festival experience with unique offerings like the Pardo Boutique and exclusive dining for loyal customers, strengthening its brand presence.

From 7 to 12 August 2024, the Locarno Film Festival will feature Manor as an event partner, celebrating international cinema in a captivating setting. Manor will present the Pardo d'onore Manor Award to esteemed New Zealand filmmaker Jane Campion on 16 August. The festival will also screen two of her notable films, "An Angel at My Table" and "The Piano," in newly restored 4K versions. At the Pardo Boutique by Manor, visitors can find exclusive festival merchandise, including a limited edition Locarno77 bag and an official Swatch watch. For more information, see: Collections - Locarno Film Festival.  Manor World Mastercard® holders will enjoy exclusive aperitifs and dinners with a view of Piazza Grande from the department store's terrace and reserved film seating. Manor continues to offer a comprehensive omnichannel experience, supporting local producers and providing high-quality products through its department stores, food supermarkets, and restaurants across Switzerland. You can access the event photos here.

Manor's exclusive involvement at the Locarno Film Festival 2024

What: El Corte Inglés is seeking to acquire a digital terrestrial television (DTT) license to launch its own channel for its teletienda "La Tienda en Casa".

Why it is important: This initiative reflects the growing trend of retailers exploring multi-channel approaches to engage customers and drive sales.

El Corte Inglés is pursuing a digital terrestrial television (DTT) license to launch its own channel. The primary purpose of this channel would be to broadcast its teletienda program, "La Tienda en Casa" (The Shop at Home). This move comes after previous collaborations with media companies for television presence, including a partnership with Mediaset that ended in 2012 and a temporary arrangement with Unidad Editorial to use Marca TV's license.

The company's interest in acquiring a DTT license aligns with the Spanish government's potential new concession of licenses. El Corte Inglés sees this as an opportunity to establish a more permanent and controlled television presence, which could significantly boost its teletienda sales and brand visibility.

This initiative is part of El Corte Inglés' broader strategy to diversify its revenue streams and adapt to changing consumer behaviors. The company has been actively expanding its operations, both domestically and internationally. Recent developments include opening new large-format supermarkets, expanding its e-commerce platform to countries like France, and growing its own food brands in Central America.

The pursuit of a DTT license also comes at a time when El Corte Inglés is showing strong financial performance. In the fiscal year 2023-24, the company reported its highest Recurring Net Income since 2009, with significant growth across retail, travel, and insurance sectors. The company has also been reducing its liabilities through strategic asset sales, generating 660 million euros over the past four years.

El Corte Inglés considers purchasing a DTT TV channel

What: Falabella reported revenues of S/918.6 million from ordinary activities in Peru during the second quarter of 2024, marking a 1.0% increase compared to the same period the previous year.

Why it is important: This growth indicates a positive recovery trajectory for Falabella in the Peruvian market, driven by governmental economic measures and improved weather conditions. The company's efforts in cost efficiency and strategic investments further highlight its resilience and adaptability in a competitive market.

Falabella has shown a notable recovery in Peru, reporting revenues of S/918.6 million in Q2 2024, a 1.0% increase from the previous year. This growth is attributed to increased demand fueled by government measures like the release of Compensation for Time of Service (CTS) funds and pension withdrawals, as well as favourable weather conditions. The company also reported an 8.1% reduction in the cost of sales, thanks to a business efficiency plan. Investments in store renovations and a distribution centre totaled S/11.6 million, while property, plant, and equipment acquired through financial leasing stood at S/58.5 million. Despite a slight decrease in equity, Falabella continues to operate 31 stores across Peru, with a significant presence both in Lima and other provinces, alongside robust online and institutional sales channels.

Falabella retail shows revenue growth in Peru in Q2 2024

What: Motier, the Moulin Family's holding company, has restructured its governance, with Philippe Houzé becoming Chairman and Nicolas Houzé appointed as Executive Chairman of the Galeries Lafayette Group.

Why it is important: This transition marks a significant generational shift in leadership within the Moulin Family, positioning the fifth generation to steer the future direction of their diverse business interests, including Galeries Lafayette, La Redoute, and their stake in Carrefour.

In a significant move reflecting a generational shift, Motier, the holding company of the Moulin Family, has restructured its governance. Madame Ginette Moulin has stepped down, with Philippe Houzé taking over as Chairman of Motier. Nicolas Houzé has been appointed as Executive Chairman of the Galeries Lafayette Group, tasked with driving the strategic vision and transformation of the group. This evolution aligns with the family's long-term plan to integrate the fifth generation into key leadership roles across their various business assets

Galeries Lafayette: Motier holding announces generational governance shift

What: The Breuninger department store chain and its associated real estate are up for sale, with 31 interested parties, including Galeries Lafayette, El Corte Inglés, and others.

Why it is important: The sale of Breuninger, a major player in the premium department store sector, could significantly reshape the retail landscape in Europe, with interest from prominent retail chains and financial investors.

The owners of the Breuninger department store chain have initiated the sale of both the retail business and its real estate, with 31 interested parties already expressing interest. The sale, known internally as "Project Keystone," includes notable bidders such as Galeries Lafayette, El Corte Inglés, and the Thai Central Group. The sale is anticipated to fetch around EUR 2 billion, with initial offers expected by the end of October. The outcome of this sale could have a major impact on the European retail market, given Breuninger's strong presence in premium department stores and its significant online operations.

Breuninger department store chain up for sale

What: El Corte Inglés is permanently closing its department store in Barcelona's iconic Portal de l'Àngel on August 31, following the sale of the building to Redevco Iberian Ventures for over EUR 200 million. The company is shifting its focus to its Plaza Cataluña location, where a renovation is planned to streamline its commercial offerings. El Corte Inglés is adapting to changing consumer trends through store closures and business diversification.

Why it is important: This closure marks a significant shift in El Corte Inglés' business strategy as it continues to divest assets to reduce liabilities and strengthen its financial position. The sale of the Portal de l'Àngel building is part of a broader trend where the company has earned EUR 660 million from asset sales over the last four years, leading to a substantial increase in recurring net profit. El Corte Inglés' strategy highlights the need for traditional retailers to adapt and diversify in a competitive market.

El Corte Inglés, a symbol of Spanish retail for over half a century, is adapting to changing consumer trends by closing several stores and diversifying its business. The company is set to close its iconic store in Barcelona's Portal de l'Àngel on August 31, a strategic move to reduce its asset portfolio and liabilities. The building, sold to Redevco Iberian Ventures, will be transformed into a mixed-use property featuring retail and office spaces. This closure is part of a broader restructuring, which includes moving sports sections to a renovated store in Plaça Catalunya. It has seen a notable improvement in its financial performance, with recurring net profit reaching its highest level since 2009.

The Barcelona closure follows other recent shutdowns, including a store in Madrid's Méndez Álvaro shopping centre and an outlet in Teruel. El Corte Inglés has also sold about 25% of its SuperCor supermarket chain to Carrefour Group, focusing on larger formats. Despite these challenges, El Corte Inglés continues to diversify its business beyond department stores, venturing into supermarkets, travel agencies, and insurance. This strategy aims to keep the company competitive in an increasingly challenging retail environment, balancing traditional brick-and-mortar operations with evolving consumer preferences and the growth of e-commerce.

El Corte Inglés exits iconic Portal de l'Àngel store as part of strategic asset divestment

What: El Palacio de Hierro is experiencing significant issues with its payment and billing system due to a server update, affecting customer transactions, credit card services, and access to account information since August 14.

Why it is important: This incident underscores the need for robust contingency plans and clear communication strategies during system outages, especially for handling sensitive financial data and maintaining customer trust.

El Palacio de Hierro has been experiencing significant issues with its payment and billing system since August 14. The problems stem from a server update that has taken longer than anticipated, affecting the functionality of the company's website and digital platforms. Customers have been unable to pay their store credit cards, access or download account statements, or generate invoices. Some users have also reported that certain payments have not been correctly reflected in their accounts.

The company has acknowledged the issue, explaining that the server update process initiated the previous week has caused operational interruptions, particularly in services related to the Palacio Card. El Palacio de Hierro has announced that it will offer accommodations to its cardholders for late payments and transactions without penalties once the platform is restored. However, no specific date for the system's return to normal operation has been provided.

This incident follows a similar situation faced by another Mexican retailer, Coppel, which reported system failures due to a cyberattack in April. Coppel's electronic operations, including card payments and purchases, were inactive for about a week, and access to the company's mobile application was suspended.

ring its recent growth and expansion. In 2023, the retailer reported an 11% increase in sales and a 41% rise in profit, with particularly strong performance in its online channel. The company has also been actively expanding its brand portfolio and enhancing its luxury offerings.

This disruption highlights the broader challenges faced by retailers in maintaining robust and secure payment systems while implementing necessary technological upgrades.

A server update impacts El Palacio de Hierro's payment and billing systems

What: Ralph Lauren strengthens its presence in Spain by opening new corners in El Corte Inglés stores and renovating existing ones.

Why it is important: These expansions highlight Ralph Lauren's commitment to the Spanish market and its strategy to grow its retail footprint in key European cities and tourist locations.

Ralph Lauren is bolstering its retail presence in Spain with new openings and renovations in El Corte Inglés stores, including a new corner at the Serrano location in Madrid. This move is part of a broader strategy to enhance the brand's visibility and accessibility in Spain's major cities and tourist hotspots. The company's ongoing commitment to the Spanish market is reflected in its recent renovations at El Corte Inglés locations in Castellana, Pozuelo, Preciados, and Bilbao. These efforts align with Ralph Lauren's global growth strategy, which saw the company close the 2024 fiscal year with a 3% revenue increase, reaching USD 6.6 billion, and a 23% rise in profits.

El Corte Inglés welcomes new Ralph Lauren openings in Spain

What:

SKP has opened its fourth location in Wuhan, featuring a new luxury department store and an outdoor promenade with 44 high-end brands.

Why it is important:

This expansion marks a significant development in Wuhan's luxury retail landscape, introducing over 1,000 international brands and creating a unique shopping experience focusing on sustainability and immersive design.

SKP has launched its newest luxury department store in Wuhan, located in the city's Wuchang District. The store, which includes an outdoor branded promenade called K Avenue, introduces more than 1,000 international first-tier brands to the market. Designed by Sybarite, the six-story, 2.1 million-square-foot store features innovative architecture and sustainability efforts, preserving 60 percent of the existing structure. SKP Wuhan aims to redefine the shopping experience in central China, attracting approximately 100,000 visitors daily since its soft opening on July 13. The grand opening on July 26 celebrated the store reaching its daily sales target, underscoring its potential impact on the local economy and luxury retail sector.

SKP lights up Wuhan with 'Glowing Lantern' department store and branded promenade

What: In 2023, El Corte Inglés launched its own food brands in Central American countries, including El Salvador, Guatemala, Nicaragua, and Costa Rica, marking a significant step in the international expansion of its product lines.

Why it is important: This expansion strengthens El Corte Inglés' role as a key ambassador of Spanish gastronomy on the global stage, increasing its international presence and enhancing its brand recognition in over 30 countries, while also contributing to its strong financial performance in 2023.

In 2023, El Corte Inglés expanded its food brands into Central America, including El Salvador, Guatemala, Nicaragua, and Costa Rica, as part of a broader strategy to internationalize its product offerings. The company, already present in over 30 countries, also increased the number of product references in Mexico and emphasized its Club del Gourmet brand in the luxury sector there. Additionally, the company's food brands gained prominence in Belgium, Saudi Arabia, and Paraguay as representatives of Spanish gastronomy. This international growth contributed to El Corte Inglés achieving a global revenue of EUR 16,333 million and a significant increase in net profit during the 2023-2024 financial year.

El Corte Inglés expands its own food brands into Central America

What: Italian luxury brand GIADA has launched a limited-time coat-themed concept store at Wuhan SKP, featuring the "Eternal Garden" classic coat series.

Why it is important: This event highlights SKP's role in hosting exclusive high-end fashion experiences, enhancing its reputation as a premier retail destination, and marking GIADA's strategic expansion in the central China market.

On August 3, SKP Wuhan welcomed the debut of GIADA's limited-time coat-themed concept store, presenting the "Eternal Garden" classic coat series in an exhibition inspired by Milan's Brera Art Gallery. The display merges nature with fashion in a setting that reflects Italian Renaissance elegance, showcasing GIADA's minimalist and high-end design philosophy. This launch is part of GIADA's broader strategy to expand its presence in central China, including the upcoming opening of a new standalone store, further cementing its footprint in Greater China and SKP's high-end fashion department store business.

SKP hosts GIADA's limited-time coat concept store in Wuhan