Specialty retailer in name change, new store banner and hospitality deal
There’s a lot going on at the company formerly known as Quiksilver.
In a new phase of its turnaround, the company has changed its name to Boardriders, a name designed to reflect the company’s portfolio of action sports brands — Quiksilver, ROXY, and DC Shoes — which are unified by the boardriding culture and heritage.
In addition to the name change, the company will open its first Boardriders store in the Americas region in fall 2017, in Malibu, California. It also has signed a deal for Quiksilver and Roxy to integrate their brands into Accor Hotels’ new millennial-targeted Jo and Joe hospitality concept.
“The renaming of our company signifies the beginning of a new day at Boardriders,” said Pierre Agnes, CEO, Boardriders.
“Our teams around the world have been building our resurgence brick-by-brick. Their passion and tireless execution, along with the loyalty of our customers, suppliers, and partners, has allowed us to complete the restructuring phase of our turnaround and to begin shifting our focus to growth.”
In February 2016, the company’s U.S. entity emerged from Chapter 11 reorganization under the ownership of Oaktree Capital Management. It launched an aggressive turnaround program that included right-sizing its cost structure, re-engineering its entire global development engine, streamlining distribution, and reducing excess inventory along with other moves.
London tops in luxury retail openings
More luxury stores opened in London in 2016 than any other city in the world.
The British capital topped the global ranking for new luxury retail store openings in 2016, according to Savills Global Luxury Retail report.
The city saw a total of 41 luxury store openings during the year, (of which 15 were the respective brand’s first ever store in London), followed by Paris, with 36 openings, and New York, with 31. Rounding out the top five were Dubai (31), Hong Kong (25) and Milan (24).
London has consistently been the most visited city in the world by international tourists, according to Savills, making it an important luxury retail market as approximately a third of this type of spend takes place abroad.
For European luxury brands, London is a useful stepping stone prior to expanding into the U.S., while for U.S. brands it provides a gateway to Europe both geographically and in terms of brand profile.
Looking ahead, forecasts by the World Tourism Organization suggest international tourist arrivals globally will double to almost 1.8 billion by 2030, aided by further growth of low cost air travel and a rapidly expanding and mobile middle class from emerging economies. Europe will remain the largest tourist market with a projected market share of 41% by 2030 and its gateway cities, such as London, will be key target destinations for the increased tourist flow.
Destinations favored by Chinese nationals, who acquire about 40% of their luxury goods abroad, are highly attractive for luxury retailers. London’s appeal for luxury brands has therefore been enhanced by its rising popularity among Chinese travelers, with visitor numbers increasing 69% in 2015. The recent weakening in the Pound, which has provided an immediate discount for many overseas shoppers, has given luxury spend in London a further boost, Savills noted.
Denmark’s largest retailer gets ‘smarter’ about energy
Coop Denmark has deployed a new solution to help it reduce energy consumption by 20% by 2020.
The retailer, which has some 1,200 stores, will deploy Honeywell’s software-based energy management solution, Enacto, and up to 20,000 wireless Enacto submeters throughout its stores, providing the retailer with a unified view of energy use across all of its locations.
Honeywell’s connected solutions will enable Coop Denmark to identify opportunities to reduce consumption, lower energy and operational costs, and track returns on energy-saving measures. It will also help the retailer contribute to Denmark’s goal of having the world’s first carbon-neutral capital by 2025. The project is expected to be completed by 2020.
“Energy use comprises a significant portion of our total costs, so we’re always looking for ways to ensure we’re being smarter and more strategic with where and how we’re consuming it. “Today, given the pressures of our industry, coupled with carbon-reduction goals, we’re more mindful than ever of energy consumption,” said Peter Kjærgaard Svendsen, energy manager of Coop Denmark. “Honeywell’s software and energy-saving expertise will help us keep our energy costs in check so we can stay focused on providing the best retail experience for our customers.”
Honeywell will work on the project with local integrator Energidata, which will provide energy audit services to help Coop Denmark identify opportunities to save energy.