Apparel

London -- Hong Kong is the world’s most expensive retail destination, with retail rents at $3,864 per square foot, according to the quarterly rankings of global retail rents from global property advisor CBRE Group. CBRE cited the city’s significant inbound tourist traffic and continued increases in domestic wealth as fueling demand from international fashion and luxury retailers.
 

New York -- Fifth & Pacific Cos., formerly known as Liz Claiborne, said that its Kate Spade LLC brand is buying out the interest of its partner in a joint venture based in Japan, the Associated Press reported.

Kate Spade will have full ownership of Kate Spade Japan Co. after it buys Sanei International Co.'s 51%  stake in the business. Fifth & Pacific said the deal is expected to cost $45 million to $50 million, including debt repayment and transaction fees.

Retailers scaled back on their promotional efforts in June this year when compared to last year—there were decreases in the number of circulars released by the majority of retailers, as well as a decrease in  the number of pages per circular.

Minneapolis -- Christopher & Banks Corp. said Thursday it has entered into a new $50 million senior secured revolving credit facility with Wells Fargo Capital Finance.

The new facility provides committed revolving funding through July 2017, and replaces the company’s $50 million credit facility that was scheduled to mature on June 30, 2014.
 

Seattle -- Nordstrom and British fashion brand TopShop said Thursday they have formed a partnership to launch TopShop and TopMan in-store departments in 14 Nordstrom stores, as well as on Nordstrom.com beginning Sept. 10.   

The joint venture makes Nordstrom the only large U.S. retailer to sell a broad assortment of the British fashion brands' merchandise in-store and online.

TopShop and TopMan have flagship stores in New York, Chicago, Las Vegas and Los Angeles (opening spring 2013).

Washington, D.C. -- Columbia, S.C.-based Edens said Wednesday that its new mixed-use development Mosaic will open this September in Washington, D.C.

NEW YORK — The popular British fashion brand Topshop, which has flagship stores in New York, Chicago and Las Vegas, is making its mass retail debut in the United States at Nordstrom this fall.

Beginning Sept. 10, 14 Nordstrom stores will carry an assortment of Topshop and Topman merchandiese. Items will also be available online, making it the only large U.S. retailer to do so.

If Hong Kong is part of your global expansion initiatives, be prepared to pay the freight.

The most recent retail rent report from CBRE Group labeled Hong Kong as the world’s most expensive retail destination, bettering New York City (No. 2) and Sydney, Australia (No. 3).