Ultra-luxe label Hermès has unveiled a newly transformed flagship in Beijing's China World Trade Centre. It covers two floors and more than 900 sqm with an “eye-catching façade that beckons from afar”.
As expected, a poor performance from its retail operations hit the Grosvenor Group in its latest trading year as the pandemic caused the high-end property business to swing to its first loss since the financial crisis.
The financial cost of Covid could jump for many non-essential retailers, given a second High Court ruling over rent arrears. Retail group Frasers has been ordered to pay rents accrued since the start of the pandemic.
Fenwick has a new non-executive chairman. Simon Calver has been appointed to help steer the family-owned UK department store chain through a series of sweeping changes, specifically its e-tail operations.
Hermès had a good first quarter as all of its business lines returned to growth and the company said it saw "a remarkable increase" in ready-to-wear and accessories, as well as watches and other categories.
As retailers and their landlords pull out all the stops in order to attract as many shoppers as possible back into their stores, landlord Shaftesbury has relaunched an initiative in the Seven Dials area.
John Lewis Partnership may be closing some of its department stores, but it's also investing in its flagship properties and it's about to start renovating the facade of its Peter Jones store in London’s Chelsea.