Author: Mei Ling Tan

  • Kiko Milano expanding store network in India

    Kiko Milano expanding store network in India

    Italian cosmetic brand, Kiko Milano, is to expand its retail network in India next year.

    Kiko Milano India plans to open six stores across the country, including two new stores in the national capital Delhi.

    “We will focus on having more points of sale, whether exclusive outlets, online or shops-in-shops,” said Abhishek Bhattacharya, country director at Kiko Milano.

    He said the company aims to launch two more outlets in Delhi, and one each in Lucknow, Mumbai, Guwahati (the first in northeast India), and Kolkata.

    “Initially we thought of opening just the retail stores, but we have understood that in Indian market, it has to be a mix of retail and other modes of expansion. We have our shop-in-shop concept, and we are also going to tie with more departmental stores, in addition to exclusive brand outlets,” he added.

    Founded in 1997, Kiko Milano has put Italy on the beauty map with more than 900 stores in 18 countries and the online capability to deliver to 36 countries.

  • Philippines’ Cebu Pacific stops flights to Siem Reap

    Philippines’ Cebu Pacific stops flights to Siem Reap

    Budget carrier Cebu Pacific has stopped its flights to and from Siem Reap, leaving only one Philippine carrier servicing the Cambodia-Philippines air route.

    Difficulties in turning out a profit was the main reason for Cebu Pacific’s departure from the Kingdom, according to Philippine media reports last week. Cebu Pacific ended its Siem Reap flights yesterday.

    Cebu Pacific spokesperson Charo Logarta-Lagamon was quoted as saying by Philippine Star that “route viability became a concern” for its Siem Reap service.

    The reports confirmed rumors that have been circulating as far as back last year that the Gokongwei-owned airline was contemplating such a move.

    The difficulties faced by Cebu Pacific were also a topic of discussion among Filipinos who attended the 3rd Cambodia Travel Mart.

    Then last week, Dirk Salcedo, an aviation blogger based out of the Philippines, reported that closure of the route was imminent, citing its online booking platform and data from FlightRadar24.com that show no Cebu Pacific flights beyond Dec 7.

    The news saddened many Filipinos in Cambodia. The Kingdom is host to more than 6,000 Filipino nationals.

    Cebu Pacific started flying to Siem Reap in 2012 amidst a growing number of Filipinos visiting Angkor Wat, the Kingdom’s leading tourist destination.

    The thousands of Filipinos working and residing in Cambodia also factored in Cebu Pacific’s decision to establish a direct flight to Siem Reap, becoming the first such carrier from the Philippines to do so.

    Since then, the airline has been flying three times a week from Manila to Siem Reap and vice versa using an Airbus A-320 aircraft.

    Cebu Pacific’s decision to close the Siem Reap route means that Philippine Airlines (PAL) will be the sole Philippine carrier with direct flight to Cambodia.  PAL re-opened the Phnom Penh-Manila air route last year and now flies five times a week to Cambodia.

    A few other Philippine carriers like Royal Air Philippines operate charter flights servicing the Cambodia route.

    The Siem Reap service was not the sole casualty of Cebu Pacific’s decision to focus on more profitable air routes. The budget airline also ended its flights to Guam, a United States territory in the Western Pacific.

  • Cebu Pacific announces Chinese New Year seat sale

    Cebu Pacific announces Chinese New Year seat sale

    Cebu Pacific is offering promotional fares for the Chinese New Year, the airline said Sunday.

    The country’s largest carrier is offering P99 base fare for flights originating from Cagayan de Oro, Cebu, Clark, and Davao, while passengers can book a Manila to Kota Kinabalu flight for as low as P149.

    For the complete list of promotional fares, click here.

    Promotional fares are available from Dec. 14 to 16. Travel period for domestic flights is from January 15 to March 31, 2020, while travel period for international flights is from January 1 to March 31.

  • L’Oreal to take over Prada beauty-products business

    L’Oreal to take over Prada beauty-products business

    Italian luxury fashion house Prada has appointed French cosmetics company L’Oreal to develop its fragrance business starting next month.

    According to reporting in the South China Morning Post, the deal is “the first step of a licensing agreement to run the Italian fashion house’s luxury beauty products”. It follows the firm’s decision to decline to renew its existing license with Puig.

    “We thought it was a good opportunity to select a new partner, also considering the possibility to develop new projects that today we are not ready to disclose,” read an email from Prada to the Post. “We chose L’Oreal because it’s the leading company in the beauty sector and we believe it will help us to further exploit our brand’s potential.”

    Prada’s sales are currently in decline in China, compared to sales growth for L’Oreal.

    “China is going to be an important target market for this Prada/L’Oreal deal in all aspects,” said global market research firm Mintel senior research analyst Alice Li. “China is now one of the most important luxury markets globally, with luxury beauty being the fastest-growing sector. Beauty products from Prada’s competitors, such as Chanel, YSL and Dior among others, and more recently Gucci, have resulted in a buying frenzy in China, especially among younger consumers. The expansion into beauty seems quite necessary now if Prada wants to further foster the young generation of Chinese luxury shoppers.”

  • Burberry launches Google Lens pop-up experience store

    Burberry launches Google Lens pop-up experience store

    Burberry has launched a digital flash pop-up experience powered by Google Lens at Ely’s Yard, Brick Lane in London.

    Three large Burberry porcelain fawns are displayed inside glass display cases in an industrial-like setting. By scanning one of the glass boxes with the Google Lens app, users are able to see an aerial live feed of themselves on their phone, captured by a camera suspended 35 metres above them. To share the moment, participants can take a screenshot of themselves with the fawns to post on social media.

    The experience allows people to capture “unique moments of togetherness” with friends and strangers, exploring humans’ relationship with technology by presenting users with multiple perspectives on an image of themselves, said a Burberry spokesperson.

    Forming part of Burberry’s festive campaign ‘What is Love’, the pop-up experience was open from December 11 to 15.

  • Adidas Malaysia opens first-ever Brand Centre

    Adidas Malaysia opens first-ever Brand Centre

    Adidas Malaysia has launched a new Brand Centre at Kuala Lumpur’s Sunway Pyramid as it expands in the Southeast Asian market.

    The new 1328sqm “stadium-style” outlet stocks the full Adidas range from performance to fashion items. Its retail concept design is inspired by iconic city landmarks and cultural hues. The store facade features two large floor-to-ceiling LED screens.

    “The all-new brand center is Adidas Malaysia’s largest store to date, showcasing the latest retail concept and innovations from Adidas as well as our commitment as the No 1 global sports brand,” said Adidas Malaysia country manager Philip Ho. “[We want to be] the best sports company in the world to provide Malaysian consumers with the best products, best experiences and best services, and we intend to inspire the city further with our brand’s unique strength and creativity.”

    Features inside the store include a jersey customization hub, a footwear testing treadmill, and an area for original collections. Space will also serve as a consumer activation and engagement hub.

  • Thai Union Group Increases stake in Thammachart Retail

    Thai Union Group Increases stake in Thammachart Retail

    Food business Thai Union Group has increased its shareholding in Thammachart Seafood Retail to 65 per cent in a move to capture a greater portion of the seafood industry in Thailand.

    The firm purchased its initial 25.1-per-cent shareholding in Thammachart last year to build on its existing strength in frozen seafood and food services.

    “Thammachart Seafood provides professional management services to leading Thai retailers for their seafood counters, handling fresh and frozen products at 190 locations throughout Thailand,” Thammachart Seafood Retail CEO Julian G Davies told The Nation.

    “This includes four food-and-beverage concepts at 18 locations, The Dock Seafood Bar, The Lobster Lab, Seafood Mahanakorn as well as management of the Ocean Bar. We opened our third business unit earlier this year, the seafood-focused food service business, and this currently supplies top-end hotels and restaurants including several Michelin-star restaurants in Bangkok,” said Davies.

    “Having Thai Union on board will help us realise our mission to be the customers’ first choice in seafood.”

    Thai Union is expected to cross over into the Laotian, Cambodian and Chinese markets following its domestic expansion phase.

  • Japanese used goods seller Bookoff to double outlets in Malaysia

    Japanese used goods seller Bookoff to double outlets in Malaysia

    Japanese second-hand retailer Bookoff is planning to double its outlets to 10 locations in Malaysia.

    It’s fifth Jalan Jalan Japan store is due to open in Vandal Baru Bangui near Kuala Lumpur at the end of the month.

    “Local people have a preference for new and used products made in Japan,” said Bookoff Group spokesman Takaharu Kominato in an NNA Business News report. “Japanese products have a reputation for reliability.”

    The 1875sqm KiP Mall store will sell roughly 200,000 SKUs from apparel and household sundries through to baby supplies and sporting goods.

    The firm is considering further outlets beyond Malaysia in other Asean territories within the next few years.

  • Kiehl’s Seoul pop up exhibition uses digital engagement to share Christmas cheer

    Kiehl’s Seoul pop up exhibition uses digital engagement to share Christmas cheer

    A three-day Kiehl’s Seoul pop-up store was unveiled on Saturday, drawing several of South Korea’s most famous KoLs and incorporating multiple digital touchpoints and VR.

    For the first time, Shinsegae Duty-Free allowed a single brand to take over the entire center court on the 10th floor of its Myeongdong department store, the hub of its downtown duty-free retail space. Kiehl’s Travel Retail Asia Pacific created multiple installations around the golden mirror carousel in the center of the floor, the highlight a real snowmobile where guests could don a virtual-reality headset and speed through the streets of downtown New York City.

    The pop-up store was opened by popular K-pop R&B star Eric Nam and Kiehl’s Travel Retail Asia Pacific GM Petrina Kho.

    Two of South Korea’s most famous KoLs were also on hand:  Risa Bae and Ha Neul, both of whom boast more than 1 million followers on Instagram and spent more than an hour posing for selfies with fans.

    The pop-up space was themed Make it Merrier with Kiehl’s and was designed to appeal to both children and adults. One of the installations allowed people to customize a children’s storybook and – by scanning a QR code – download it in digital form. Others included QR-based interactions where visitors could answer questions to redeem free samples of Kiehl’s products.

    The pop up was topped off with a giant colorful animated 360-degree video wall on the balcony of the 11th floor, framing the centre court. Artwork for the pop up was created by Finnish graphic artist and illustrator Janine Rewell

    Kiehl’s has built a reputation for sustainable practices and corporate social responsibility and this event reinforced that commitment. The company committed up to US$10,000 to the charity Room to Read, by donating $1 for every sale of 125ml Ultra Facial Cream Holiday Limited Edition between November 1 and December 31. The funds will be used to purchase books.

    Dr Geetha Murali, Room to Read’s CEO, told guests at the launch the cash would be sufficient to fund reading programs for 200 children in developing countries.

    “Room to Read’s mission is to create a world free of illiteracy and a safe place in schools for young girls to read and study.” The organization’s internal research shows that 80 percent of the children it has helped to date have graduated from school, compared with just 20 percent on average in the countries they work in.

    Meanwhile, all the displays created for the pop up were made from sustainable wood and after they are disassembled this week, all the items will be donated to schools and charities for children to enjoy.

    Kho said the pop up was designed with the spirit of “giving and sharing”.  It follows a successful series of Kiehl’s Loves promotions in Bangkok, Hainan, and Seoul earlier this year.

    “Holiday is a joyous time of the year and Kiehl’s is delighted to push the boundaries of disruptive and engaging retail expressions with Shinsegae Duty-Free through our immersive popup,” she said.

    Hong Seok Ho, merchandising division senior VP at Shinsegae Duty-Free, said the partnership with Kiehl’s was part of the retailer’s mission to constantly deliver “unique and inspiring retail experiences” for customers.

  • Razer opens its first London flagship store

    Razer opens its first London flagship store

    Singapore and Hong Kong-backed gaming company Razer has opened a flagship store in London’s West End as it tries to boost its global reputation.

    Backed by Singapore fund Temasek with Hong Kong tycoon Li Ka-shing and founded by Singaporean entrepreneur Min-Liang Tan, Razer has expanded from its gaming-hardware roots into software and financial services.

    The new RazerStore in London is the first in Europe and the brand’s largest yet with a 3700sqft footprint. It follows stores in Las Vegas, and San Francisco in California, Causeway Bay and Tsim Sha Tsui in Hong Kong and another in Taipei. RazerStore London opened to long queues.

    Like Razer’s other stores, the British venue is almost all black with contrasting bright green throughout.

    “All in all, it’s a decent retail experience, quite dissimilar to the Apple retail stores, but in a familiar kind of way,” observed Adrian Ip of WCCF Tech in a commentary posted online.

    “Where Apple is all light colors and airy atmospheres, Razer knows its audience and is primarily targeting it at hardcore gamers so thumping music, black paint, and RGB everywhere is the order of the day.”

    Visitors can try out all the Razer goods including mice and keyboards designed for gamers, headsets and the brand’s Blade-series laptops. Accessories and a small range of apparel complement the offer.

    In the downstairs area of the store, guests can play the game Fortnite, using Razer equipment, and there is a streaming booth.

    Ip said he was told by staff that RazerStores offer the brand a physical presence in major cities to market their goods as well as get more people hands-on with their gaming equipment.

    “This makes them less reliant on reviewers, but these are no glory loss-leaders: the stores have quickly reached profitability after launch”.

    “Given London’s location as a major global city with a large and wealthy population, it seems likely that this shop should reach profitability relatively quickly too.”

  • Delivery Hero Acquired Korean rival Woowa

    Delivery Hero Acquired Korean rival Woowa

    Berlin-headquartered online food-delivery operator Delivery Hero has acquired Seoul-based rival Woowa for US$4 billion.

    The acquisition will see Delivery Hero owning 88 percent of Woowa, with the remaining shares to be acquired over time.

    Woowa operates food delivery platform Baedal Minjok in South Korea, which it says generated approximately 100 million orders during the third quarter. It also includes the Baemin service in Vietnam, operated by Baedal Minjok.

    “Woowa is at the forefront of innovative technology services and has put Korea on the map in the global online food delivery industry,” said Delivery Hero CEO Niklas Ostberg.

    “We fully support Woowa to continue making investments and innovate for the benefit of the wider industry participants, including consumers, restaurants, employees, and riders,” he added.

    Along with the acquisition, the two companies agreed to set up a joint venture in Singapore to explore investment opportunities in the Asia-Pacific region and to further expand Delivery Hero and Woowa’s Asian footprint.

    The deal marks a complete circle of delivery services in Vietnam. Foodpanda exited the market in December 2015 and its then-parent sold the database to rival Vietnam. Delivery Hero bought out Foodpanda a year later and earlier this year, Baedal Minjok bought Vietnammm before rebranding it Baemin.

    Frankfurt-listed Delivery Hero was founded in 2011 with operations in more than 40 countries internationally, offering delivery services in more than 300 cities.

    Last year, Woowa grew revenues in South Korea by 96 percent over 2017 to €242 million, turning a pretax profit of €46 million. In the first nine months of this year, Woowa grew revenues in South Korea by 84 percent to €301 million, with GMV pretax profit of around €3 million. Its Vietnam subsidiary fulfilled about 1.5 million orders during the third quarter of this year.

  • Bangkok Bank Snaps Up Bank Permata

    Bangkok Bank Snaps Up Bank Permata

    Bangkok Bank emerges as the buyer of PT Bank Permata after Singapore’s DBS and OCBC reportedly backed out from bidding. Thailand’s second-largest lender Bangkok Bank bought Permata for about $2.7 billion to obtain a near 90 percent stake from Standard Chartered and PT Astra. The deal, which was advised by Morgan Stanley, was valued at 1.77 times Permata’s book value.

    According to a Bangkok Bank release, it found the acquisition attractive due to Permata’s «leading retail deposit franchise and best-in-class digital capabilities» with more than 300 branches in 60 cities in Indonesia.

    According to a filing, the acquisition is part of Bangkok Bank’s strategic transformation to become a regional lender, describing Indonesia as a «highly attractive and fast-growing market”.

    International expansion is our key strategy,» said Piti Sithi-Amnuai, chairman of Bangkok Bank. «Indonesia, in particular, is a key focus for us, as it is one of the fastest-growing major economies in Asia with highly attractive macroeconomic fundamentals, favorable demographics, and increasing ASEAN regional integration.

    Standard Chartered had signaled its intention to dispose of the stake in February, as it was no longer core to its strategy, and the funds raised from the sales could be used to further its share repurchase program which has already returned $1 billion.

  • Ant Financial and Vanguard Launch Advisory Joint Venture

    Ant Financial and Vanguard Launch Advisory Joint Venture

    Ant Financial and Vanguard establish a joint venture to provide advisory services to China’s onshore retail market.

    U.S. asset manager Vanguard would provide customized solutions to investors based on their risk profile, time horizon, and investment objectives, according to a report citing a statement, with a minimum investment of 800 yuan ($115) to access the service through Ant Financial’s Alipay app.

    The tie-up marks the second partnership Ant Financial has established in the last month. In late November, it signed a partnership with Postal Savings Bank of China to focus on areas such as digital payments, online lending, rural finance, and corporate finance alongside the establishment of a joint lab to explore other innovations.

    Vanguard, which launched a wholly foreign-owned enterprise in China in May 2017, recently bolstered its onshore capabilities with the hire of Yan Pu as its managing director and China head of investment management group.

  • HSBC Nets Bankers From UBS and Credit Suisse

    HSBC Nets Bankers From UBS and Credit Suisse

    HSBC Private Bank appointed four senior executives to strengthen the key areas of family advisory services and philanthropy within the Private Wealth Solutions business in Asia Pacific.

    As part of its push to grow its private banking business in the Asia Pacific, HSBC announced four senior hires on Monday. Aik-Ping Ng joins as Co-Head of Family Office Advisory and Senior Family Governance Advisor, Asia Pacific while Edith Ang will be Co-Head of Family Office Advisory and Senior Family Governance Advisor, Asia Pacific, the bank said in a media statement on Monday.

    Both of them will work with client families to develop long-term succession plans, which includes providing the highest standard of advisory on establishing and professionalizing family offices, trusts and estate planning, family governance and preparing for the transition of responsibility to the next generation.

    Aik-Ping Ng has over 17 years of international and China-based experience in private equity, corporate finance, strategic M&A, family office advisory and asset management to HSBC. Most recently, Ng was a Senior Advisor at UBS, working with Ultra High Net Worth (UHNW) clients in the formulation, review, and implementation of family office solutions.

    Edith Ang joins HSBC after 13 years at UBS, where she worked with UHNW families in Asia on the formulation, review, and implementation of family legacy solutions.

    In addition, Dorothy Chan has been appointed to be Head of Philanthropy Advisory and Charitable Services, Asia Pacific, while Christine Wong will take up the role of Head of Greater China Market, Private Wealth Solutions. Dorothy Chan succeeds Cynthia D’Anjou-Brown, the previous head, as the latter will retire from HSBC in December this year after almost 15 years of service.

    As a leading private and institutional client trustee platform, we are dedicated to building lasting relationships with HNW and UHNW families to identify the solutions to support them across the generations, said Cynthia Lee, Regional Head of Private Wealth Solutions, the Asia Pacific in a media statement.

    Dorothy Chan joins HSBC after 19 years of experience in a variety of senior roles in the private, public and not-for-profit sectors. She previously worked at Galaxy Entertainment as Vice President, Corporate Relations. Chan has deep experience working with a number of leaders to define a vision and create solutions that contribute to the sustainable development of a range of diverse communities.

    Working closely with HSBC’s teams in EMEA and the Americas, Chan will help drive coordinated philanthropy efforts including building charities and connecting. She will also lead the team supporting clients in the development of their charitable goals.

    Christine Wong joins HSBC from Credit Suisse, where she was Director of Trust and Estate Advisory Team for the Greater China Market. Prior to joining HSBC, she gained 25 years of experience in cross-border trusts in senior wealth planner roles at Credit Suisse, Edmond de Rothschild, UBS, and J.P. Morgan.

    She also has served as Managing Director of the Asiaciti Trust group’s Hong Kong office with responsibility for the fiduciary management and trust operations of the business. In her new role, Christine Wong will be integral to the further development of HSBC’s Private Wealth Solutions business in Greater China.

  • Vietjet CEO among world’s 100 most powerful women

    Vietjet CEO among world’s 100 most powerful women

    Vietjet Air CEO Nguyen Thi Phuong Thao is one of 100 most powerful women in the world this year, according to a Forbes listing. The only Vietnamese woman on the list, Thao was placed 52nd, down eight places from last year. This is the third year in a row she has been included in Forbes magazine’s list of 100 most powerful women in the world.

    The list was compiled based on assets, impact, spheres of influence and media presence, the magazine said.

    It estimated that the budget carrier CEO and the richest woman in Vietnam to have a net worth of around $2.7 billion as of December 13.

    Thao, 49, has done business in Vietnam and abroad in many fields, including finance, banking, aviation, real estate, and retail.

    She launched Vietjet in 2011. The airline now leads the domestic market with a 45 percent share. It operates 385 flights daily within Vietnam and to Japan, Hong Kong, South Korea, Taiwan, Singapore, mainland China, Thailand, Myanmar, and Malaysia.

    The carrier launched its IPO on the Ho Chi Minh City Stock Exchange in February 2017, becoming the first airline in Vietnam to list publicly.

    Vietjet has now surpassed national flag carrier Vietnam Airlines in terms of passengers carried. It has a fleet of 80 aircraft flying to 120 destinations.

    German Chancellor Angela Merkel was adjudged the most powerful woman in the world for the ninth consecutive year. She was followed by French politician Christine Lagarde, who serves as the President of European Central Bank, and Speaker of the U.S. House of Representatives Nancy Pelosi.