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Alessandro Bastagli divestes Shanghai Tang, Balmain changes its logo , Shangri-La Group associates with Klook, and the other news of the day
Press review
Alessandro Bastagli divests Shanghai Tang
Alessandro Bastagli decided to sell Shanghai Tang House, acquired in July 2017 from Richemont. The Italian business man would have difficulties in managing a chinese brand, mostly sold in China, from Italy.
According to the journal Il Sole 24 Ore, the Chinese group Lunar Capital is the new investor. Lunar Capital, based in Shanghai, is specialised in investments in developed and growing companies. It is the second time that Lunar Capital buys an Italian company. Indeed, in 2014 they bought a child clothing brand called Pinco Pallino.
Shanghai Tang ended previous year with a 30 millions dollars turnover (26,4 million euros) mostly made by sales in China.
Balmain changes its logo
Balmain keeps reinventing itself. The brand is changing with a new modern, more simpler and more design logo/
The logo presents now two overlapped letters : P and B, in honor of the brand’s founder Pierre Balmain. Created by Olivier Rousteing, the artistic director for 8 years now, the objective is to recognize the brand more easily « A contemporary logo, refined and bold for this historical house, that reaches to keep the original heritage, while showing to everyone what it is being a luxury french contemporary house » he declared in a press-release.
This new pattern is already displayed on the 2019 pre-fall collection. It will be then added on the website and in the stores.
Shangri-La associates with Klook to enhance traveler’s experience
Klook, a worldwide activities and services booking platform and Shangri- La Hotels and Resorts Group, the biggest hotel group in Asia Pacific, associate together to enhance traveler’s experience.
Their strategic partnership’s goal is to give to the clients a direct access to the best activities in the world in order to improve their stay and help them in their choice of destination.
Local experiences, restaurants, spa…The hotel visitors will be able to book their activities via a digital tablet or a concierge, in advance or at the last minute. For the Gold members of Shangri-La, a system of points has been implemented for every booking made via a concierge. A marketing strategy to retain their clients.
Also, Shangri-La Hotel and Resorts Group announced the nomination of two new cooking chef in their Sri Lankan properties : Chef Patrick Buttgereit (Shangri La Hotel Colombo) and Chef Aris Athanasiou (Shangri La’s Hambotota Golf Resort and Spa). Their goal is to make these two institutions inescapable places for gastronomy.
The Hudson’s Bay Company slows down its loss thanks to Saks
The Hudson’s Bay Company has slowed down its loss in Q3, especially thanks to Saks Fifth Avenue which increased their sales of 7.3%. Therefore, the group which is also the owner of Lord&Taylor, declared a 2.9% rise of their sales in stores.
Saks achieves a sixth consecutive quarter with an increase in its sales according to HBC thanks to the growing demand of luxury items and apparel.
HBC reported a loss of 164 million C$ for this quarter, compared to 243 million C$, a year ago.
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