Retail News CRM

Author: Mei Ling Tan

  • HKBN cleared to merge with WTT

    HKBN cleared to merge with WTT

    HKBN has secured approval from the Communications Authority to complete its acquisition of WTT Holding after making new commitments to the regulator.

    HKBN and WTT revealed plans in August last year to merger through an all stock deal valuing WTT at HK$10.5 billion.

    But the Communications Authority subsequently announced that it had identified a number of competition issues that could arise under the merger, and warned it may conduct a formal investigation into the merger.

    These issues included concerns that competing operators could face difficulty accessing buildings that are not exclusively for residential use where both companies already have equipment in order to compete with the combined company.

    The authority also raised concern that downstream rivals may become locked into wholesale agreements with the combined company, making them captive customers.

    To address these concerns, HKBN and WTT made additional commitments in January, and subsequently revised them in response to feedback from the regulator.

    Under the revised commitments, the combined company has agreed to facilitate access to any elements of its in-building communications systems in relevant buildings that will be required for rivals to serve non-residential customers.

    The merged company would also agree to provide wholesale services on existing or no less favorable terms to downstream rivals for three years after the date of the revised commitments rather than two.

    With these commitments, the authority said it is satisfied that its competition concerns have been effectively addressed, and now does not intend to commence an investigation into the deal.

    HKBN said the company is now on track to complete the acquisition by the end of the month. The company has appointed two new directors that will represent the new major shareholders it will be acquiring through the transaction. Zubin Iraini will represent TPG Capital Asia, and Teck Kong will represent MBK Partners.

    Meanwhile HKBN has selected current HKBN Enterprise Solutions COO Billy Yeung to assume the dual role of CEO of HKBN Enterprise Solutions and CEO of WTT and lead the integration of the companies.

    Current WTT CEO Vincent Ma will retire from the role immediately upon completion of the transaction.

  • SK Telecom unveils AI smart speaker

    SK Telecom unveils AI smart speaker

    SK Telecom has revealed plans to launch a new AI voice activated digital assistant named NUGU Nemo.

    NUGU Nemo is an AI speaker with a 7-inch display that contains a range of free video and learning content for children.

    This includes Pinkfong from SmartStudy, which comes with a range of video and audio content as well as games aimed at helping kids learn Korean, English and mathematics.

    The device uses video recognition technology to protect children’s’ eyesight by advising them to move back from the screen if they move within 15cm of it.

    For adults, the device displays information on its screen including stock information, real-time foreign exchange rates and a Korean-English dictionary to enhance user experience.

    The device will be priced at 199,000 won ($175) and be available to preorders from April 23, SK Telecom said.

    Lees ook:

    Lees ook:

    Lees ook:

  • Hamley’s set to be sold to Indian Toy Retailer

    Hamley’s set to be sold to Indian Toy Retailer

    Toy retailer Hamleys is set to have its fourth owner in 15 years since it was taken private by an Icelandic investor.

    According to multiple Indian news media reports, Reliance Retail is in the final stages of negotiations with China’s C.Banner International, which has been trying to find a buyer since last October, after three years of ownership.

    C.Banner bought the business in 2015 for US$130 million, but has struggled to produce a profit. The company reportedly lost $15.6 million in 2017 on sales down 2.5 per cent to $86.5 million.

    Sources in India are speculating Reliance Retail will pay between $36 and $50 million, representing a substantial loss for C.Banner on exiting the brand.

    Reliance Retail, a subsidiary of the giant Indian conglomerate Reliance Industries, is in acquisition mode as it tries to expand its business by 30 per cent annually for a decade, an ambition on a scale probably only realisable in India right now. As at the end of last year it operated 9907 stores across 6400 Indian cities with a combined retail area of more than 21 million sqft. Its retail licenses and partnerships include Marks & Spencer, Diesel, Steve Madden and Kenneth Cole.

    “Due diligence for the Hamley’s deal is at an advanced stage,” a source told Money Control, itself a subsidiary of Reliance Industries. “Reliance Retail is aggressively pursuing the deal.”

    Reliance Retail is already the Indian licensee of Hamley’s and operates 50 stores under the banner, representing the toy brand’s largest market by store numbers. There are plans to open 150 more.

    Toy retailer Hamley’s was founded in 1760 as Noah’s Ark. It has about 129 stores globally, including a Regent Street, London flagship and stores in China, Germany, Russia, South Africa and the Middle East. A foray into Vietnam in 2015 ended in failure, however the company still sells toys online there.

    If the acquisition proceeds, it will help boost Reliance Retail’s portfolio. “Reliance can scale up Hamley’s business with its capabilities in supply chain management and strong distribution network.”

    Lees ook:

    Lees ook:

    Lees ook:

  • US DOJ likely to reject T-Mobile and Sprint merger

    US DOJ likely to reject T-Mobile and Sprint merger

    One year after US operators T-Mobile and Sprint finally finished the preliminaries and announced a merger, the proposed deal is under fire. Few ever thought the deal would get through regulators unscathed, but now we’re finally getting to the details.

    DOJ has told the two carriers that it is ‘unlikely’ to approve the deal as currently structured, or at least people at the DOJ involved in the approval did, as this doesn’t appear to be a formal thing. The news adds to a growing list of regulatory objections from the states and from the FCC.

    T-Mobile CEO John Legere is disputing the reports, and there is certainly sufficient motivation to adjust the deal enough to push it through. However, there is enough doubt right now that the markets didn’t take it well and sent the stock of both companies falling.

    Perhaps like AT&T did for the Time Warner deal they will at some point take things to the courts.

  • Intel pulls out of 5G smartphone modem market

    Intel pulls out of 5G smartphone modem market

    Intel has announced plans to exit the 5G smartphone modem business hours after Apple announced it was settling its legal battles with Qualcomm over modem patent licensing.

    Apple and Qualcomm announced they have reached an agreement whereby Apple will sign a six year patent licensing deal and agree to buy Qualcomm chipsets, in return for ceasing all litigation.

    Apple had ceased using Qualcomm chips for its smartphones and replaced them with Intel chipsets after accusing Qualcomm of using its patents to maintain a monopoly on the modem chip market, and Qualcomm countered by accusing Apple of violating its patents.

    But with Apple seemingly throwing in the towel, Intel announced it no longer expects to launch 5G modem products for smartphones.

    The company pledged to continue to meet current customer commitments for its existing 4G smartphone modem product line, and said it still intends to invest in its 5G network infrastructure business and assess opportunities for 4G and 5G modems for PCs, IoT devices and other data-centric devices.

    “We are very excited about the opportunity in 5G and the ‘cloudification’ of the network, but in the smartphone modem business it has become apparent that there is no clear path to profitability and positive returns,” Intel CEO Bob Swan said.

    “5G continues to be a strategic priority across Intel, and our team has developed a valuable portfolio of wireless products and intellectual property. We are assessing our options to realize the value we have created, including the opportunities in a wide variety of data-centric platforms and devices in a 5G world.”

    Lees ook:

    Lees ook:

  • New Luk Fook store opens in Vancouver

    New Luk Fook store opens in Vancouver

    Luk Fook Canada has opened a new shop in CF Richmond Centre in Metro Vancouver.

    The new store is the first Oriental jewellery shop in the mall.

    “Adhering to the corporate vision of ‘Brand of Hong Kong, Sparkling the World’, the group has been actively expanding our retail network into the overseas market for new business opportunities as well as provision of superior products and after-sales services to our Chinese customers around the world,” said chairman and CEO of the group Wong Wai Sheung.

    At present, the group has more than 1820 shops in 10 countries and regions, where its footprint covers Hong Kong, Macau, Mainland China, Singapore, Malaysia, Cambodia, the Philippines, the US, Canada and Australia.

    “We open a new shop at CF Richmond Center, Canada with the objective of expanding our customer base while bringing premier shopping experience to our Chinese customers around the globe,” added Wong. “Looking ahead, we will continue to stay enthusiastic to shape us to be the preferred jewellery brand for customers anywhere.”

    The group set its foothold in North America in 2003. Luk Fook Canada opened retail shops in Toronto and Vancouver, which each have a significant Chinese population. The city of Richmond has the largest Chinese population in Canada, and the CF Richmond Centre is considered a shopping hotspot for local and touring Chinese.

    Lees ook:

    Lees ook:

    Lees ook:

  • L’Oreal Asia Sales for the First Time outpaces Europe

    L’Oreal Asia Sales for the First Time outpaces Europe

    L’Oreal Asia now sells more products than the company’s home European division. Sales in Asia outpaced those in western Europe for the first time in the last quarter, with China leading the growth, despite a slowing economy.

    Just a decade ago, L’Oreal Asia sales were less than one third of its European sales.

    Globally, first-quarter L’Oreal sales rose 7.7 per cent for the quarter to US$8.53 billion, excluding currency fluctuations. That news drove the company’s share price even higher, taking growth to 21 per cent so far this year. It is now France’s second-largest company by market value.

    L’Oreal, which owns Garnier, Maybelline, Acqua di Gio Armani, and Laroche Posay, has become increasingly reliant on fast-growing Asian economies to maintain growth rates impossible in its mature home and North American markets. But analysts like James Edwards Jones are unconcerned by such reliance.

    “It is true that the growth is not broad-based. But given L’Oreal’s proven ability to identify, stimulate and capitalise on those parts of the business where the most attractive growth is to be had, we struggle to find fault with this,” the company said in a client note.

    L’Oreal CEO Jean-Paul Agon says young Chinese consumers are increasingly drawn to luxury brands, a positive trend for the cosmetics manufacturer.

    European sales were rebounding but “nothing would compete with what we see in Asia,” he said in an analyst briefing.

    Lees ook:

  • Hyundai Venue Bookings Open At Dealership Level

    Hyundai Venue Bookings Open At Dealership Level

    Bookings for the upcoming Hyundai Venue have commenced at the dealership level in India. Several Hyundai dealers, especially in the Delhi & NCR region, are currently accepting unofficial bookings for the new Hyundai Venue subcompact SUV for a token of ₹ 25,000 to ₹ 50,000 depending on the showroom. One of the dealers we spoke to also said that officially Hyundai will start accepting online bookings first for the Venue. Considering the carmaker is unveiling the SUV today, it’s possible the company might start accepting bookings from today itself or later this week. The SUV is also making its global debut today at the New York Auto Show 2019.

    The all-new Hyundai Venue is slated to be launched in India next month, on May 21, 2019. It will be the first sub-4 metre SUV from the South Korean carmaker, and upon launch, it will take on the likes of the Maruti Suzuki Vitara Brezza, Mahindra XUV300, Ford EcoSport and Tata Nexon . As for the pricing, we expect the upcoming Hyundai Venue to be priced in the range of ₹ 8 lakh to ₹ 11 lakh.

    While we are yet to officially see the SUV, the Hyundai Venue featured at Times Square which tells us that it will come with quite compact proportions, with some bold character lines. The SUV also appears to get dual tone exterior treatment with a contrast roof, which in this case was a shade of blue with a white roof. Up front, the SUV gets Hyundai’s cascading grille in chequered pattern with chrome highlights, a dual lamp setup with the LED daytime running lamps positioned above flanking the bonnet line and the main projector headlights positioned below with chrome surrounds.

    The Venue also comes with black claddings along the wheel arches and side skirts, along with a set of sporty-looking dual tone diamond cut alloy wheels. The Hyundai Venue will also get the Blue Link connectivity system featuring 10 India-only features with a total of 33 connectivity features including geo-fencing, speed alerts, SOS, panic notifications, destination sharing, and road-side assistance and so on.

    As for engine options, the Hyundai Venue will come with a 1.0-litre T-GDi Turbo petrol engine along with the 1.4-litre turbo diesel. The engines will come mated to a 6-speed manual and a 6-speed torque converter automatic transmission, while there will also be the 7-speed dual-clutch automatic available as an option.

    Lees ook:

  • Ford Mustang EcoBoost High Performance Package Unveiled

    Ford Mustang EcoBoost High Performance Package Unveiled

    Think Ford Mustang and the first thing that you associate the muscle car with is a massive 5.0-litre V8 motor. But even though Ford offers only the V8 in India, there exists a variant of the Mustang with four cylinders and this model is a slightly extreme version of the standard EcoBoost Mustang. Under the bonnet, the Mustang gets the same 2.3-litre turbocharged EcoBoost four-cylinder petrol engine as on the standard model but it now makes 330 bhp and 475 Nm, which is just 20 bhp more. There is a 6-speed manual or a 10-speed automatic transmission available as well. The 0-100 kmph sprint is done in less than 5 seconds and the car has a top speed of 250 kmph. The rear axle ratio is now shorter at 3:55, which is also one of the reasons for quicker acceleration.

    The Mustang 2.3-litre high performance package also gets a few more updates such as a variable sports exhaust system, limited slip rear differential, a bigger inter-cooler and updated steering and ABS. The other addition is the active exhaust with quad tips which offer a better aural experience than the regular model. Ford will also be offering an ‘EcoBoost Handling Package’ for the 2.3-Iitre EcoBoost Mustang which includes MagneRide adaptive suspension, semi-metallic brakes and wider 19-inch alloy wheels shod with 265 mm Pirelli P Zero Corza4 tyres and a 24 mm sway bar at the rear for better rigidity.

    As far as exterior design updates go the 2.3 EcoBoost Mustang gets a new front splitter, black grille, grey stripes on the bonnet, retro pony badges and a rear lip spoiler. The 2020 Ford Mustang 2.3-litre High Performance Package will make its debut at the New York Auto show.

  • Bossini Singapore opens new store concept at Jewel Changi

    Bossini Singapore opens new store concept at Jewel Changi

    Bossini Singapore opened a new store concept at Jewel Changi today. The fashion retailer says shoppers can look forward to an enhanced visual and shopping experience in the new store.

    The interior is fitted out with materials that resemble nature while walls are fitted with LED TV screens and an interactive Lego panel for further engagement.

    The entrance is designed with three-dimensional LED lights for an inviting shop-front.

    The store will carry athleisure wear, windbreakers, jogger pants and quick-dry tops and regularly changing collaborative capsules. Past such collaborations include Disney characters featuring on an extensive and fun range of t-shirts, jackets, dresses and bottoms for both adults and kids.

    Local souvenirs for tourists are also in the pipeline.

    Bossini Singapore opens new store concept at Jewel Changi

    Lees ook:

    Lees ook:

    Lees ook:

  • Hello Kitty welcome Link’s Fresh Market shoppers

    Hello Kitty welcome Link’s Fresh Market shoppers

    Link’s Fresh Markets have partnered with Hello Kitty creator Sanrio in a campaign to have the adorable characters greet customers at seven designated markets.

    The collaboration celebrates the fresh new look of Wo Che Market in Shatin, which has recently undergone asset enhancement.

    “The event is as much a delightful surprise for the public as an immersive educational initiative for the younger generation,” said Link’s corporate affairs and marketing director Lorraine Chan, “as they can soak up local fresh market culture and healthy eating messages. There will also be activities allowing kids to unleash their artistic and creative talents.”

    From now until June 30, the Sanrio “store owners” are treating visitors to the cutest selfie experience at Link’s Fresh Markets in Kowloon and the New Territories. On April 28, Ahiru No Pekkle will show up at TKO Gateway to give away free hugs and pose for fun photos. Moreover, Nam Cheong Place Market will launch an exclusive Monkichi premium redemption programme for families.

    A set of “Link’s Fresh Markets x Sanrio Characters” limited-edition goodies will be given to customers who reach a designated spending amount within seven days at specific Link Fresh Markets and shopping centres.

    Link will also host a “Mini Master Chef Contest” at Wo Che Market. 10 finalists will channel their creativity to create a bento lunch box featuring Sanrio Characters with fresh ingredients on April 20 and 27. Local culinary tutor and cartoon bento specialist Candace Mama will give demonstrations on bento preparation and decide the winners of Link’s first “Mini Master Chef” title.

    Lees ook:

    Lees ook:

    Lees ook:

  • AirAsia abandons Vietnam venture

    AirAsia abandons Vietnam venture

    It’s wholly-owned unit, AirAsia Investment Ltd, together with Gumin Company Ltd and Hai Au Aviation Joint Stock Company, have mutually agreed to terminate the agreement to set up a joint venture in Vietnam, effective today.

    “The company, nonetheless, remains interested in operating a low-cost airline in Vietnam due to its favourable geographical location, expanding aviation market and overall growth potential,” it said.

  • Tatas raise stake in AirAsia India to 51%

    Tatas raise stake in AirAsia India to 51%

    Tata Group raised its stake in AirAsia India to 51% and injected 5b rupees together with AirAsia Investments to fund the carrier’s international expansion plans, the Economic Times reports, citing two unidentified people familiar with the matter.

    * Tata Group also holds controlling stake in Vistara

    * Vistara and AirAsia have both applied for approval to fly international routes

    Lees ook:

    Lees ook:

    Lees ook:

  • Yonghui boosts stake in Chinese grocery Zhongbai

    Yonghui boosts stake in Chinese grocery Zhongbai

    Dairy Farm Group-backed Yonghui Superstores is to boost its interest in Central Chinese regional supermarket chain, Zhongbai Holdings.

    According to a stock exchange filing in Shanghai, Yonghui is offering RMB8.10 per share to take its stake in the company from 30 per cent to 40 per cent. The deal is worth RMB559 million (US$83.3 million) and the shares will be bought from a state investment fund.

    Zhongbai, based in Wuhan, has 1255 stores, mostly in central China, including supermarkets, convenience stores, neighbourhood fresh-produce shops, foodmarkets and a premium grocery concept.

    Dairy Farm Group has a 20 per cent stake in Yonghui and has continued to invest in the business to maintain that shareholding as other investors, including Tencent and JD have invested in the retailer’s growth. Jardine Matheson executive chairman Ben Keswick is Yonghui’s chairman.

    Yonghui currently has just a single store in Hubei province, which means the investment will give it instant critical mass in the region. The company has more than 950 supermarkets in 22 Chinese provinces, its strongest representation in Guangdong.

    Lees ook:

  • Hyundai Venue Subcompact SUV Unveiled In India

    Hyundai Venue Subcompact SUV Unveiled In India

    Pulling the wraps off its highly anticipated offering, Hyundai Motor India has unveiled the all-new Venue subcompact SUV in the country. The India reveal of the new Hyundai Venue coincides with the global debut at the 2019 New York International Auto Show. The all-new offering marks the Korean car maker’s entry in the subcompact SUV space and will compete against the likes of the Maruti Suzuki Vitara Brezza, Ford EcoSport, Mahindra XUV300 among others.

    The Hyundai Venue is inspired heavily from the automaker’s bigger offerings in terms of design including the Santa Fe and the Palisade. The massive cascading grille takes prominence up front with the chrome mesh grille, while the split headlamps look in place and come with projector lens on the top variants. The SUV gets accentuated wheel arches that not only make the offering look wider but give it a rugged appearance as well, while the rear sports boxy LED taillights that look smart. The SUV also comes with projector fog lamps.

    In terms of dimensions, the new Venue measures 3995 mm in length, 1770 mm on width, and 1590 mm in height. The wheelbase measures at 2500 mm. Hyundai says the car is built using 69 per cent Advanced High Strength Steel (AHSS) and High Strength Steel (HSS), which have contributed to achieving dynamic stiffness and improved structural rigidity

    The Venue also gets a host of segment first features including wireless charging, air purifier, HD Display screen, eco-coating, Arkamys Sound, wheel air curtains and more. In fact, the SUV comes with Hyundai’s Blue Link connectivity tech that makes the Venue India’s first connected SUV and adds 33 new features, 10 of which are India specific. The company has tied up with service provider Vodafone-Idea for the new system and brings features like auto crash notification, panic notification, SOS/Emergency Assistance, stolen vehicle tracking with immobilisation (only on the 1.0-litre version) and more.

    There are features like remote engine start/stop, remote climate control, voice recognition, vehicle relationship management among other tech. The Hyundai Venue also comes with electric sunroof, cruise control, rear AC vents, cornering lamps and a cooled glovebox. The SUV also gets an 8-inch touchscreen infotainment system with Apple CarPlay and Android Auto compatibility. The cabin gets an all-black treatment for India, while the international spec could get a dual-tone finish, and there is brushed silver finish on the three-spoke steering wheel, gearshift knob, and the air-con vents. The instrument console is a dual-pod unit with a large MID unit in the centre.

    Power on the Hyundai Venue comes from three engine options including the new 1.0-litre turbocharged petrol motor that is tuned to produce 118 bhp and 172 Nm of peak torque. The motor is paired with an all-new 7-speed dual-clutch transmission in a first for Hyundai India, along with a manual gearbox. There’s also the 1.2-litre naturally aspirated petrol that churns out 82 bhp and 114 Nm of peak torque, and is offered with a 5-speed manual. Lastly, there is the 1.4-litre diesel as well with 89 bhp and 220 Nm of peak torque, and is offered with a 6-speed manual gearbox. Hyundai is yet to reveal the fuel efficiency figures of each of these engines, and expect the same to be announced at the time of the launch next month.

    In terms of safety, the Hyundai Venue gets six airbags, speed sensing door lock, ABS with ESC, VSP, Hill Assist Control, BAS, ISOFIX seats and more. The Venue enters in a highly contested segment and the model does look promising both in appearance and on the feature front to take on the established offerings in this space. In addition, the automaker is offering a segment first three years/unlimited kilometres warranty and three years roadside assistance.

    Hyundai will be launching the Venue on May 21, 2019, and select dealerships across the country have already started accepting bookings for the model for a token amount of ₹ 25,000. Deliveries can be expected towards the end of next month in the country.

    Lees ook:

    Lees ook:

    Lees ook: