"In view of the stable nature of clothing and footwear sales, players need to precisely position themselves to gain larger market share," noted Euromonitor. "To create a range of brands aimed at different target customers is the key action taken by major players." What better place for a retailer to position itself than at the base of the tallest skyscraper in the world? Located in Taipei is the Taipei 101, the first record-setting skyscraper to be constructed in the 21st century. The multi-story retail mall at the base of the tower houses restaurants, night clubs and a number of well-known brands, including Coach, Lagerfeld, Ralph Lauren, Jean Paul Gaultier, Missoni and Moschino.
7. HONG KONG
Hong Kong remains a gateway to China, from domestic brands like Giordano to department stores such as Lane Crawford. As for foreign labels, while Valentino has had a retail presence in Southeast Asia for roughly 30 years, the opening of a flagship here marks a change in the company's strategy in the region. The shop, which opened Nov. 13, was designed by Italian architect Antonio Citterio and will become a role model for future Valentino stores in Asia, WWD said last week. Pringle of Scotland has landed in Hong Kong, as well. The brand opened its first Hong Kong unit at the Elements mall, a new one million-square-foot shopping mall which features a rooftop garden with alfresco dining options and five distinct shopping areas, including The Metal Zone — which, in addition to Valentino, houses names such as Prada, Fendi and Furla.
During a minitour of Asia in November, Juicy Couture co-founder and co-president Gela Nash-Taylor confirmed the brand has big plans for the region. Nash-Taylor cut the ribbon on two new stores, one of which is in Kuala Lumpur. She also stated the brand hopes to have 47 stores in Asia within 10 years. Located in Kuala Lumpur City Centre is Suria KLCC, a shopping complex which houses other designer names, such as Hermès, Chanel, Marc Jacobs, Giorgio Armani and Gucci, along with footwear brands like Adidas, Converse, Stuart Weitzman and Jimmy Choo. Fine jewelers, including Cartier, Chopard and Tiffany & Co. are housed here, as well.