The Malaysian Timber Council (MTC) remains optimistic that Malaysia will achieve its RM25 billion export target for wood-based products by 2020 despite a fragile global trade and economy caused by the US-China trade war. “We believe that the RM25 billion target is still achievable notwithstanding the potential headwinds that may come along the way, for instance Brexit, US-China trade war and other regional conflicts,” MTC CEO Richard said.
“The good part about the timber and wood industry is that a lot of Malaysian businesses are very innovative, and they respond to changes quite quickly, in terms of adjusting to the changing needs and demands and also the challenges of the industry as well as economy,” he added.
To recap, the Ministry of Plantation Industries and Commodities (MPIC) had in 2017 reduced the wood-based exports target from RM53 billion to RM25 billion due to shortage of raw materials.
Yu said the RM25 billion target is more “realistic”, noting that the previous RM53 billion target was first formulated prior to the 2008 global financial crisis.
“The planning and the formulation of the strategy was before that (the financial crisis). At that point of time, even in terms of the exchange rate was pretty favourable to us from ringgit terms perspective.
“And looking at last year’s numbers, I think to get another incremental of about RM1 billion-RM2 billion for another three years should be quite realistic,” he added.
The timber industry’s contributed RM23.2 billion to the government coffers in 2017, up 4.8% compared to last year’s figures.
As at August 2018, the export figures had reached RM14.57 billion, in which the wooden furniture, plywood, sawn timber, fibreboard and builders’ joinery and carpentry are the main revenue generators for the sector.
However, Yu noted that there is concern raised by the industry players on the potential Chinese products dumping.
“That will obviously have an effect on our exports. But I believe the Ministry of International Trade and Industry is monitoring this issue closely,” he said.
At present, Malaysia exports timber and timber-based products in over 160 countries.
Moving forward, Yu said the country’s commitment in maintaining its forest cover at above 50% will ensure that the timber industry remains sustainable in the long-term.
The MTC was established in January 1992 to facilitate the local industry players and promote the development and growth of the timber industry.
Ambience Mall, Gurgaon, with some of the biggest food and fashion brands such as H&M, Gap, Zara, Marks & Spencers, Kiko Milano, Luxe Bridge, Iconic, Da Milano, Jack & Jones, Cover Story, Ritu Kumar etc, is the perfect destination for shoppers of all age groups. To augment its standing as the numero uno, two more luxury brands Ted Baker and Hackett London have opened their stores in the mall recently.
British clothing and accessories brand Ted Baker known for designer apparel and signature tailoring opened its latest store at the Ambience Mall, Gurgaon. The store is equipped with glamorous interiors and tons of charm. The brightly-lit store will house their wide range of both menswear and womenswear. Ted Baker is a mainstay for every stylish wardrobe with a collection of bright dresses, tops, menswear, luxe accessories and add-ons.
Located adjacent to the Ted Baker store, Hackett London is a multi-channel British menswear retailer, specialising in vintage clothing for men. As the official couturier for the British Army Polo team, the Henley Royal Regatta, the BAFTA awards and Aston Martin Racing, Hackett London is steeped in Britain’s rich sartorial heritage. With a wide repertoire of fine casual and formal clothing the store is a niche addition to the malls offering.
Speaking on the store launch, Arjun Gehlot, Director, Ambience Malls, said, “We are delighted to have some of the best international fashion luxury brands Ted Baker and Hackett London in our mall. This is part of our commitment to offer International and Domestic premium quality brands to our customers under one roof. We will continue to bring best quality brands in the future as well.”
The Ambience mall with the best offers in shopping, entertainment and culinary offering under its roof is the definitive favorite of shoppers looking for premium international and domestic brands. With an eclectic mix of top international and Indian clothing brands to cater to all age groups, wide array of entertainment options and unique decorative concepts that is constantly refreshed in-tune with changing seasons and festivities, the Ambience Mall, Gurgaon has indeed cemented its place as the perfect destination for shopping enthusiasts and thrill seekers in Delhi-NCR.
Rolls-Royce Motor Cars, the luxury car brand under the BMW Group, said Wednesday it will introduce one of its 35 limited-edition Silver Ghost Collection models in South Korea this month. Rolls-Royce made the limited edition cars to pay homage to the original Silver Ghost from the early 1990s. The car makes use of real silver accents in its interior and exterior to set it apart.
The forest green-colored limited version to be sold in Seoul carries the phrases “Silver Ghost Since 1907” and “Silver Ghost Collection – One of Thirty-Five” in the car’s interior, the company said in a statement.
Rolls-Royce began selling its vehicles in Korea 15 years ago. Its current lineup includes the Phantom, Ghost, Wraith, Dawn and Cullinan.
In 2018, the carmaker sold 123 Rolls-Royce vehicles in Korea, up 43 percent from 86 a year earlier, according to the Korea Automobile Importers and Distributors Association.
Prices and other details were not provided for the limited-edition model.
Vietnamese companies are branching out into new areas, in line with the government’s goal of establishing the country as a manufacturing powerhouse by 2020. Real estate conglomerate Vingroup has started manufacturing electric motorbikes and smartphones and is set to enter the car industry in June. VinFast, a Vingroup unit, began selling its first electric motorbike in November. Designed in the mold of Italy’s Vespa, the Klara is a stylish, well-manufactured bike that can cover up to 80 km on one charge.
Klara, like many other domestically made products, however, remains heavily dependent on foreign parts and technologies. While the collaboration with companies such as BMW, Robert Bosch and Siemens enabled Vingroup to bring the Klara to the market in just over a year after announcing plans to expand into motor vehicles, it reflects the long path the country has to travel before becoming a full-fledged industrial power.
A group of 20 European businesses are helping Vingroup produce the bike, and around 200 German engineers are currently working at Vingroup’s plant in the northern city of Haiphong. Klara offers a glimpse into the type of outside assistance that will go into building the country’s first national car, which the company plans to launch in June.
Some of the company’s cars will be based on a small vehicle produced by Germany’s Opel and use chassis provided by Western makers, according to local media. An Italian design studio that has worked for Ferrari and other European marques is in charge of designing VinFast cars.
Most of the parts have to be imported, as the country lacks a developed car manufacturing supply chain.
Vingroup’s foray into the smartphone market is also supported heavily by foreign manufacturers.
The conglomerate has teamed up with Spanish maker BQ to launch its Vsmart model, and its smartphone plant has started operation, also in Haiphong.
Vingroup has enlisted the help of Qualcomm and Google for its smartphone business.
Vietnam’s first domestically made smartphone, the Bphone, was launched in 2015 by software developer Bkav and was also largely made up of components supplied by foreign makers. Its liquid crystal display, for instance, came from Sharp and its chips from Qualcomm.
In October, Bkav put the third-generation model of the Bphone on the market.
Truong Hai Automobile, also known as Thaco, a contract manufacturer for Mazda Motor and Kia Motors, started selling Vietnamese-made agricultural machinery in 2018. The company, which has entered a technological tie-up with South Korea’s LS Mtron, reportedly makes equipment mostly with imported parts.
The government is seeking to develop a cycle of domestic manufacturing, hoping that sales of locally made products will help its industries climb up the technology ladder and create employment.
It is understood that a variety of tax and other incentives are being extended to Vingroup and other companies that are cooperating with state efforts to promote domestic production.
Some analysts, however, have questioned the sustainability of this approach.
“What Vietnam needs to do is to accelerate technology transfers to small and midsized companies for long-term development, instead of providing special incentives to specific large companies,” said a Hanoi-based Japanese consultant.
In addition, the “Made-in-Vietnam” label has yet to win over consumers, according to Cao Thi Khanh Nguyet at the Asia Pacific Institute of Research, and manufacturers need a well-designed brand strategy to establish a solid presence in the market.
Samsung Electronics, which operates two massive manufacturing plants in the country, controls 40% of its smartphone market. Many consumers also opt for Japanese, Thai and South Korean products when it comes to food and daily goods.
Manufacturers in emerging markets often look to foreign powerhouses for support in accelerating their growth and evolution.
Generally, industries begin the shift toward domestic production after they have acquired sufficient expertise and built up a dependable network of domestic suppliers.
Some analysts say that Vietnam’s push to establish full-fledged domestic production by 2020 is too ambitious. But the blueprint has been in place for years.
The 2020 target was first proposed at the ruling Communist Party’s National Congress in 1996. Two decades later, in 2016, the party reiterated its pledge to make the country a modern industrialized nation, despite widespread expectations that the plan would be abandoned.
Vingroup chose Sept. 2, 2017 to announce its entry into automotives. It was no coincidence, falling on National Day, when the Vietnamese commemorate Ho Chi Minh’s 1945 declaration of independence.
Air Asia is the world’s largest and best low-cost carrier (They have won awards for the last 10 years). Air Asia X, their low-cost long haul carrier has built a route network spanning from the middle east to southern Australia. But many people in the US have never had a chance to fly on Air Asia, as the name would imply, have only ever been centered around South East Asia.
Could Air Asia X routes from Japan to the US West Coast work?
In a massive new rumor, Air Asia might be starting direct routes between Japan and the US West Coast onboard their fleet of brand new Airbus A330-900 aircraft. As none of the 66 new aircraft on order have been delivered yet, Air Asia X has been reluctant to place address the theory. They are however one of the first airlines to order the aircraft, and as deliveries have begun, we expect news sometime this year.
Previously, the current fleet of older A330-300s has only been able to reach as far as Hawaii from Osaka, Japan (their range is 6,350 nmi (11,750 km)), limited by their ability to cross the Pacific ocean.
But these new A330neo aircraft, with a range of 7,200nmi (13,334km), allow Air Asia X to reach destinations like Los Angeles and San Fransisco. This opens up a huge potential market for the company, and on the flip side, a cheap (and good) way for American’s to access Japan, and through transfer, South East Asia.
What is the service like on Air Asia X?
Whilst there has been no information yet on the fit out of the new Airbus A330-900 aircraft, we can hazard a guess based on their current A330-300 jets.
There are three classes on board, a ‘premium’ business light class, a quiet zone and a normal economy class. There are also exit row seats scatted throughout.
The business class features “flat beds” (They do not go entirely 90 degrees flat, but are more around 70-80 degrees), as well as included entertainment (via tablet), baggage allowance and food and beverages. They have around 60 inches of pitch and are 20 inches wide.
There is every possibility that AirAsia will upgrade the seat truly lie flat in their newer aircraft.
The quiet zone on board is a section of economy row seats at the front of the economy section that only allows adults and forbids loud noise. The economy section is laid out in a 3 by 2 by 3 configuration.
Naturally, as it is a low-cost carrier, passengers will need to budget for seat selection, baggage, food and bring their own entertainment. The economy seats have 32 inches of pitch and are 16 1/2 inches wide.
The real win, however, is the cost. Typically you would be looking at around $1000 USD return in economy to fly from Los Angeles to Osaka. Air Asia typically offers premium business for the cost of an economy ticket (which is well worth the upgrade) and economy for dirt cheap prices (through economies of scale). It is very likely that Air Asia will instantly undercut the market on these routes and be the cheapest to fly.
Air Asia has claimed that Malaysia Airports Holdings Berhad (MAHB) has turned down their offer of mediation, in a letter sent by the airport operator’s lawyers. The airline said that in an attempt to resolve the parties’ ongoing dispute over passenger service charges at Kuala Lumpur International Airport 2 (klia2), they had proposed mediation to MAHB.
“We regret that MAHB has refused AirAsia’s olive branch to resolve outstanding issues between us through mediation, particularly in light of MAHB’s recent statement that it is ‘optimistic that these matters can and will be resolved’,” said AirAsia Malaysia CEO Riad Asmat in a statement on Wednesday (Feb 6).
“We will seek guidance from Malaysian Aviation Commission (Mavcom) on the next steps to address this situation. However, we reserve our rights to take all necessary actions to protect the interests of our guests and shareholders,” added Riad.
Under the Malaysian Aviation Commission (Mavcom) Act 2015, MAHB and airline operators have an obligation to mediate any dispute, and legal action may only be used as a last resort when other efforts have failed.
Last month, the budget airline sought more than RM400mil in counterclaims against MAHB in response to a suit filed by the airport operator last month over airport taxes.
The counterclaims were for losses and damages experienced by AirAsia and its long-haul sister airline, Air Asia X Bhd, due to alleged operational disruptions at klia2, the airline had said.
AirAsia claims that it agreed to move to klia2 after the government scrapped the initially approved plans for its own low-cost terminal in Labu, Negri Sembilan in 2008 following MAHB’s claim that it could build a similar terminal closer to KLIA with the same facilities and charges at the former Low-Cost Carrier Terminal (LCCT).
The airport tax in klia2 was increased to RM73 from RM50 for non-Asean international passengers.
Domestic passengers were not spared from the increase and now have to pay RM11, up from the previous RM6.
DHL Express is rolling out a new fleet of 63 electric delivery vans in the United States as part of the German company’s goal to reduce logistics-related emissions to zero by 2050. Thirty battery-powered NGEN-1000 vehicles from Workhorse Group will be deployed in San Francisco with the remainder in other unspecified markets around the country later this year.
The new vehicles have a range of 100 miles and 1,008 cubic feet of cargo capacity.
DHL said its delivery fleet in the United States already includes electric, hybrid-electric, compressed natural gas and clean diesel-powered vehicles. The company has set a target of operating 70% of first- and last-mile delivery services with what it considers “clean transport” modes by 2025.
“This year alone, nearly 30% of our new vehicles will be alternative fuel,” said Greg Hewitt, CEO of DHL Express U.S. in Plantation, Fla. “We’re excited about the technologies that continue to emerge in this area and how they are benefiting the logistics industry.”
Workhorse Group launched commercial production of the NGEN-1000 and three smaller-capacity electric cargo vans in October 2018.
DFS Group, the world’s leading luxury travel retailer, is celebrating Lunar New Year 2019, ‘The Year of the Pig’ with a series of exciting promotions, exclusive offers, personalization services and interactive activities at DFS, Singapore Changi Airport.
Until 19 February, DFS has partnered with Moët Hennessy to celebrate the new year festivities with an exclusive Hennessy pop-up store at Changi Airport, the only one of its kind in the global travel retail sphere. Offering interactive consumer experiences and tastings, the pop-up features Hennessy’s first ever engraving station in travel retail for travelers who wish to add a personalized touch to their bottles. Hennessy partnered with contemporary artist, Guang-Yu Zhang to create an exclusive art piece, incorporating the zodiac symbol of the boar and Hennessy’s double distillation process. The artwork is featured on limited-edition festive packaging for Hennessy XO, Hennessy VSOP and James Hennessy.
“Lunar New Year is one of the world’s most celebrated festivals and is a time for family, friends, giving, happiness and good fortune. As we welcome the Year of the Pig, we thank our loyal customers and look forward to welcoming new traveling customers to a luxurious shopping experience that only DFS can offer. Our Lunar New Year campaign enhances the pleasure of giving by offering an array of DFS exclusive products – for customers to show appreciation to loved ones or treat themselves to something extra special at this special time,” said Ariel Gentzbourger, DFS Group Executive Vice President Merchandising.
Exclusive and limited-edition products available at DFS Changi include the Macallan Concept No.1, an Asia First Launch, the limited-edition Benedictine Dom Chinese New Year tin and the limited-edition Royal Salute 21 Year Old. All products are also readily available on www.iShopChangi.com, where travelling customers can browse and purchase products from 18 hours to 30 days before their flight. Purchased products can be collected at the departure terminals or arrival halls. Travelers can enjoy 10 per cent discount when they check out with the ‘CHEERS10” promocode now through until 31 March 2019.
In preparation for festive feasts and celebrations, travelers arriving in Singapore during the festive period can enjoy an unlimited purchase of wines and champagnes. By absorbing all duties and taxes, DFS allows customers to purchase as many bottles as they wish from an extensive collection at an affordable price. Products range in cost and variety and start from as little as S$25, with travelers enjoying savings of up to 70% versus domestic prices.
From now through 4 February, travelers at Changi Airport can try their hand at winning a 999 Pure Gold Bar (10 g) by playing the exclusive ‘Fortune Catcher’ claw machine. Located in each DFS departure store, travelers are able to use vouchers to play the claw machine – that offers an array of prizes with a minimum purchase of S$168 in store.
Giorgio Armani Beauty is starting the year of 2019 strong by collaborating with DFS on celebrating Chinese New Year. In January, Giorgio Armani Beauty launched its first Chinese New Year pop-up stores at T Galleria Beauty By DFS, Causeway Bay and T Galleria By DFS, Canton Road respectively. Iconizing the brand’s 3 star products – the legendary Lip Maestro, the iconic My Armani To Go Cushion Foundation and the new bestselling fragrance – Sì Passione, the pop-up stores reflected Armani’s commitment to modernity whilst celebrating the traditional festival with the Asian consumers.
A UNIQUE BEAUTY EXPERIENCE Visitors were able to indulge themselves in a unique Armani Beauty experience under the Chinese New Year festivity. They discovered New Year fortune and recommended Giorgio Armani Beauty products through the in-store digital app, try their luck on the app and receive attractive gifts upon purchase; and completed their memorable experience by getting the exclusive gift set of the 3 star products featuring My Armani To Go Cushion Limited Edition “Cushion Couture”. Customers also enjoyed professional make up consultation by Giorgio Armani Beauty Face Designers.
Giorgio Armani Beauty set up at T Galleria Beauty By DFS Causeway Bay HK 2 768×512
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Giorgio Armani Beauty set up at T Galleria Beauty By DFS Causeway Bay HK 768×512
Nestled in the upmarket suburb of Dogok, Seoul, sits the newly opened reinvention of Emart’s “Star Super”: “the SSG Food Market”, designed by Landini Associates. Emart is the leading business of the Shinsegae group, the largest retailer in South Korea, operating multiple brands including department stores, discount to premium supermarkets, and the mighty Emart hypermarkets.
The brief was to create a world class premium supermarket and food hall fusion, and Landini Associates were entrusted to redesign every detail of the new store experience. This included: the built environment, naming and identity, furniture and fixtures, signage and communications, ticketing, menus, POS, advertising style guides, packaging and uniforms. In fact every customer touchpoint.
The result is a modern market, a convenient and accessible food lover’s heaven, where locals can do a daily or weekly shop, or dine in with friends at one of the many in-store restaurants and cafes. Attracting a newer younger audience, whilst rewarding its existing, the SSG Food Market is a community epicentre to meet, eat and shop in, throughout the day.
The offer
The reinvention enriched and upscaled the existing food and beverage offer to include an extensive fresh department, vegie butcher serving house-made salads and juices, take home meals, Korean deli, bakery (run by hip San Francisco brand Tartine), fishmonger, butcher, Korean traditional street food, café, 200 seater restaurant, sushi restaurant, specialist cheesemaker, western charcuterie, wine and beer department, coffee roastery, dry goods, florist and homewares.
The result is a curated selection of quality products, and a onestop-shop supermarket and refined specialist items. In addition the market is a wonderful meeting place to dine with friends and family, further enriching the retail and community experience.
SSG Food Market Landini Associates Trevor Mein Fruit and Vegetables 45
The offer is made up of both SSG run departments, franchises (such as Starbucks, a premium brand in Korea), and third-party retailers. Ensuring that these were all presented as a tangible whole required the design team to be sensitive to multiple design briefs, whilst ensuring that the customer had a seamless experience.
Additionally, the site has a low ceiling which created some challenges for the reticulation of services, and multiple entrances, including a pre-trading public access to a subway station through the heart of the store; a gift to residents from Shinsegae.
Landini’s solution creates a space of intrigue, transparency and exploration by celebrating the food, the people who make it, and its preparation.
Specialist departments are visible across the restaurant’s open kitchen and include: Korean Traditional Street Food, Korean/ Chinese Noodles and a grill. All the production is exposed, and chefs work in glazed pavilions serviced by counters showcasing this theatre whilst you order. There are also take home meals in the Korean deli prepared daily in its kitchen, or fresh fish and meat cooked to order at the Grill, to take home, or eat in.
As always, and especially because the market is in a basement, the lighting plays a key role in Landini’s design. Chiaroscuro, the contrast between light and shade, creates areas of interest and calm, gently guiding customers on a journey of discovery throughout the store. Perimeter departments use pavement lights to create space, and give sense of the world above.
In the main market hall the interior is paired back, functional yet classic. This “bare bones beauty” of exposed steel beams and concrete bulkheads contrasts with fine marbles, glass and blackened steel, and is balanced by timber fixtures and details. This subtle, considered and classic material palette allows the food to be the hero, and merchandising plays a major role. Long-life departments such as wine and dry-goods have a warmer, more earthy and textural palette, utilising brick and added timber. In the carpark, red floors and walls add vibrancy to the market experience before customers even get out of their car.
The basement site is located below two high-end residential apartment buildings. Visitors can enter from the sunken courtyard on street level, or via the red carpark inside. SSG has created a residents pre opening pedestrian route through the store, a shortcut to the train station to save locals from the blistering cold in winter. Landini designed a set of messaging icons for this route, also.
The graphics
Landini Associates established a tone of voice for the brand to reflect their new food experience. This influenced all store communications including: naming and identity, signage and communications, ticketing, menus, advertising style guides, packaging and uniforms.
The entire site required an ownable, easy to understand signage and graphic messaging system to reflect the brand’s new established tone of voice. The Landini design team evolved the existing SSG logo mark, developing an adaptation on communications applications to collateral and signage.
The design is simple, contemporary yet classic; impacting not overwhelming. The palette is one of debossed concrete, timber, black and whites, and complimentary hits of the brand’s colour, red.
Recognizing the immense scope in the lucrative fitness market that has hit the country, Superdry announces its venture into Sports category under the name SuperdrySport. The brand is all set to open its first exclusive Sport store in the country that will celebrate technical sports gear, athleisure, great design and outstanding craftsmanship at DLF promenade, Delhi.
From technical gear to workout essentials, SuperdrySport has everything from active wear, athleisure and sportswear. With pieces engineered to enhance performance and aid- goal focused activity, to more fashion lead items made with sports fabrics but designed more to turn heads, there are items carefully mastered to suit whatever your ability. Geometry and pop grid structures are complimented with layered mesh weaves. The highly technical performance range is created with a distinct ‘win’ attitude featuring compression fits and engineered ventilation designs.
The 1076sqft, brand-owned Delhi outlet located at this premium location retains the Superdry DNA of clean lines set against raw finishes yet takes a leap forward into the fresh brand of SuperdrySport by merging the future technology, lighting and finishes to enhance the experience of the customers. SuperdrySport stores will have the ability to evolve with seasonal change, product sales and popularity or gender demand allowing maximum traction from every square meter. It is sure to catch the eye of a millennial customer.
Millennials are increasingly buying clothing that’s characterized by durability and utility, this shift has led to a surge of interest in brands offering innovative designs, new functionality and practical fashion.
With many celebrities donning the athleisure look, the trend has reached Tier 2 & Tier 3 cities as well. Having understood this potential Superdry plans to open stores in these cities as well soon.
The report published by Global Industry Analysts Inc., the global market for Sports and Fitness Clothing is projected to reach US $231.7 billion by 2024. The research also indicates that technological developments designed to improve comfort and performance has also led to the growth in sales of sports apparel. The report points out that the Asia-Pacific region is expected to be fastest growing region, with a CAGR of 6.9 percent over the forecast period. Sales came from emerging markets, such as India and Thailand, as well as the US, the world’s largest sportswear market.
The Indian users of online grocery delivery service Amazon Pantry have taken to Twitter to urge the e-retail major to resume services ever since it was discontinued on February 1. “Currently, pantry items are not available on Amazon. Kindly stay tuned for more updates. Thank you for understanding,” Amazon responded to its Indian users in a tweet. The service became unavailable in India on February 1, the day revised norms for Foreign Direct Investment (FDI) in e-commerce came into force in the country.
Following the new norms, Amazon has also removed from its website sellers such as Cloudtail India and Appario Retail Pvt Ltd in which it owns a stake.
“I am missing Amazon Pantry service which catered to my monthly needs. It was super convenient,” tweeted a user.
“What happened to Amazon Pantry? Please fix it,” read another user’s tweet.
Under the Ministry of Commerce and Industry’s new guidelines issued on December 26, e-commerce platforms providing a marketplace are barred from exercising control or ownership over the inventory.
They are also barred from allowing any company to sell its products exclusively on their e-commerce platforms alone.
The Indian arm of the Seattle-based e-commerce giant did not respond to questions by IANS on the expected impact to its business in the light of the revised norms.
While the company had earlier in a statement to IANS said that “it has always operated in compliance with the laws of the land”, it did not respond to queries on the changes it may have to make to its business model to suit the new norms.
Monthly retail figures from the Australian Bureau of Statistics have shown a somewhat dismal December trading period performance, having fallen 0.4 per cent to $27 billion, compared to the 0.5 per cent increase seen in November. While online retail turnover made up 5.6 per cent of the total figure, this figure fell from 6.6 per cent enjoyed in November, indicating the increasing importance of the pre-Christmas sales events such as Black Friday and Cyber Monday.
The results show that, over the course of the holiday period Australians spent $48.7 billion on retail sales, below the $51 billion projected by the Australian Retailers Association (ARA) and Roy Morgan, though above the corresponding turnover of $47.5 billion from 2017.
National Retail Association chief executive Dominique Lamb pointed out that these figures should serve as a warning, to both sides of the political landscape, that sectors of the retail industry are struggling.
“Retail is the second biggest sector in the Australian economy, so when it goes through a challenging period there is a knock-on effect throughout the economy,” Lamb said.
“While the retail community certainly doesn’t look to government for all the answers, it is during slow periods such as these that measures are required that assist small business.”
Household goods fell 2.8 per cent, and clothing and footwear saw a 2.4 per cent decline in spending over the month, while department store turnover decreased 1.1 per cent. However, cafes, restaurants and takeaway food services rose by 1.1 per cent over the month.
ARA executive director Russell Zimmerman pointed out that, while the monthly figures were depressed, annually the industry achieved a 3 per cent growth in sales, compared to the 2.76 per cent seen the previous year.
“Although these figures are disappointing, it is important to note that there are a variety of factors that have contributed to these soft figures, including the decrease in consumer sentiment caused by rising household costs and low wage growth, which continues to plague the industry and overall economy,” Zimmerman said.
These sentiments were echoed earlier in the month by NAB chief economist Alan Oster, who noted that these factors had led to consumers becoming reluctant to spend on non-essentials, having observed a 1.4 per cent decrease in online spending over the December period.
Global sportswear brand Puma has launched Puma Shuffle, a street style weekend pop up space in Indiranagar, Bangalore on February 02, 2019. With an aim to become the hub for growing sub-cultures in the city, Puma has introduced a brand new concept that emerges over weekends to provide a dedicated space for creative expression.
PUMA Shuffle is created on the notion of an alter ego where the identity of the place oscillates between a friendly neighbourhood bar, Watson’s and a high-energy creative space that celebrates live music and sub-cultural communities of the city over the weekend. The fluid pop up space by Puma comes to life on Friday and Saturday evenings with gigs by an eclectic selection of DJ’s, musicians, artists, designers and sneakerheads.
Speaking about the new concept, Abhishek Ganguly, MD, Puma India, says, “Bangalore has always been a hub for culture, but it’s time to re imagine the city’s cultural landscape with the rise of a new generation of youngsters who are using sneaker, street art, skateboard, hip hop battles, and basketball as a form of self expression. Puma Shuffle, is an innovative concept aimed at being the hotbed for such communities and sub cultures, giving them a dedicated space, impetus and empowerment they need. This new concept of shuffling between two spaces will also be a great visual, gastronomical and creative experience for our consumers all under one roof.”
Resonating the dual identity of the space, the aesthetics are all about fusing the two entities and creating a concept that allows a smooth transformation from one identity to the other. The interiors exude an old world, heritage charm with soaring arched windows and a barrel roof with an unfinished surface that gives the space raw yet regal feel. The quirky wall art and live animation breaks the earthy palette to give the space a distinct personality. The mezzanine floor displays live graffiti – a cat silhouette and Puma Shuffle artwork are brought to life by animated projections. Vibrant layered art with mixed styles of graffiti adorns the wall beside the staircase.
Created by artist Badaal, the edgy illustration also pays homage to two of Puma’s big sneaker names – Puma Suede and RS-X Toys. There are also 5 arched frames that house images of international Puma assets on the top floor. In keeping with Puma’s first sustainable store, located below, the idea was to retain elements from the existing space and reuse materials to construct the new venue.
Puma Shuffle provides both a great visual and gastronomical treat for the audience. Much like the vibe of the place, the menu curated for Puma Shuffle is new age, vibrant and refreshing. On offer is a medley of cuisines from different corners of the world, including a few local favourites, that makes one keep coming back for more. In keeping with the theme of the space, the bar is hooked up with a mechanical pulley system used to elevate the wrought iron lighting at the facade. Here, an array of fun cocktails are created by expert mixologists.
Premium lifestyle brand Ralph Lauren increased gross profit across its third quarter period by 6 per cent to $1.46 billion (US$1.05 billion), compared to $1.37 billion (US$996 million) the year prior. The growth was driven by a 90 bps increase in gross margin to 61.6 per cent, as a result of reduced promotional activity and improved pricing.
“Solid execution on our key initiatives, especially during the important holiday period, delivered better-than-expected results for the third quarter as we drove higher average unit retail and continued to improve quality of sales overall,” Ralph Lauren president and chief executive Patrice Louvet said.
“These results give us confidence that our strategic investments in brand-building, product, digital, and global expansion are on the right track, while the strength of our balance sheet will continue to be a competitive advantage as we manage through an increasingly volatile global environment.”
The business saw momentum in Asia continue, with 11 per cent revenue growth to $379.65 million (US$275 million) led by 19 per cent constant currency growth in Greater China, and strength across Japan, South Korea and Australia.
North American sales increased by 3 per cent to $1.25 billion (US$909 million), and enjoyed flat comparable bricks-and-mortar sales and a 21 per cent increase in digital sales for the region.
Global revenue for the brand’s digital offering improved 20 per cent over the last year, with growth in the brand’s directly-operated digital flagships exceeding expectations.
Net income for the period grew to $165.67 million (US$120 million), or $2.04 per diluted share (US$1.48).
Looking toward the final quarter of fiscal 2019, Ralph Lauren expects net revenue to drop slightly due to a planned reduction in off-price sales, though predicts net revenue for the fiscal year will be up slightly, though didn’t provide concrete figures.
