Retail News CRM

Author: Mei Ling Tan

Yum China Acquires Pizza Hut: Record Revenue, Store Expansion, and Surging Delivery Sales Drive Q2 Growth

After operating as a licensee for 36 years, Yum China is poised to acquire full ownership of Pizza Hut in Mainland China. This substantial move was guided by the company’s impressive second-quarter earnings report, which revealed a 13% year-on-year increase in revenue, reaching US$3.14 billion. Simultaneously, operating profit soared to US$348 million. These robust figures reflect Yum China’s competitive edge in the market, according to the company’s CEO, Joey Wat.

KFC: The Powerhouse

KFC continues to be the primary growth accelerator for the company, contributing significantly to the overall portfolio. The brand’s operating profit for the quarter stood at US$332 million, surpassing Pizza Hut’s earnings by nearly six and a half times. With a steady 7% system sales growth and a 1% increase in same-store sales, KFC reported its fifth consecutive quarter of expansion.

Yum China’s innovative approach to its menu strategy has paid off, with the aim of establishing billion-yuan product lines and expanding their reach. For instance, the whole chicken product, introduced in 2021, generated over CNY 2 billion in sales within a year. Meanwhile, projections for the Zinger burger line anticipate sales surpassing CNY 5 billion by the end of 2026.

Pizza Hut: A Revamp and Acquisition

Pizza Hut experienced a promising turnaround, with same-store sales registering a 1% growth. The Pizza Hut Burger Bar, a unique, open-kitchen burger counter set within existing restaurants, expanded to over 200 locations in six months. This novel concept significantly boosted sales, particularly among young consumers and solo diners.

Yum China is on track to expand the Pizza Hut brand’s reach, with an aim to open between 500 to 600 new locations by the end of the year. The company is also set to achieve an important milestone soon – becoming the owner of Pizza Hut in Mainland China, after more than three decades of managing the brand.

The company has ambitious plans to enhance Pizza Hut’s profitability and align its restaurant margins closer to that of KFC. It also plans to open more than 800 new locations annually by 2027 and 2028, surpassing its original target of 600 new outlets per year.

The Driving Forces Behind the Brands

Two key factors played significant roles in boosting the company’s earnings. The first is expansion, with a record 560 new stores opened during the quarter, taking the total count to 19,297. Franchisees were responsible for about 41% of these new openings.

The second key factor is the growing reliance on delivery services, which now account for 54% of the company’s total sales. Despite facing tougher comparisons in the latter half of the year, Yum China is optimistic about its prospects, buoyed by projected capital returns of US$1.5 billion and the impending full ownership of Pizza Hut.

Questions & Answers

What contributed to Yum China’s growth in the second quarter?
Yum China’s growth can be attributed to its strategic menu innovations, robust franchise expansion, and an increased reliance on delivery services.

What are some innovative strategies that Yum China has implemented this year?
One significant strategy is the introduction of the Pizza Hut Burger Bar, an open-kitchen burger counter inside existing Pizza Hut restaurants. This new concept has led to increased sales and customer engagement.

What are Yum China’s future plans for Pizza Hut?
Yum China aims to enhance Pizza Hut’s profitability, align its restaurant margins closer to those of KFC, and open more than 800 new outlets annually by 2027 and 2028.

August 4, 2026
Shein Paves Way for IPO with Investor Perks: Cash Payouts and More Shares Amid Declining Valuation

Shein, the prominent quick-fashion retailer, is contemplating reducing the investment cost for some late-stage investors as it seeks an initial public offering (IPO) at a decreased valuation. This information has been revealed through filings at the Hong Kong Stock Exchange.

The firm may present early investors with payouts, as well as offering more shares at a reduced conversion price for their holdings, as indicated in the public filings. This strategy aligns with a report from July, which stated that Shein would be compensating investors for the decrease in valuation, including through cash payments.

There has been a noticeable drop in Shein’s valuation from US$98.2 billion in a 2022 funding round to $64 billion in a 2023 round. It has been suggested that the company is aiming for a valuation of up to $50 billion in the impending IPO.

Investment Strategy and Market Response

According to the filings, Shein has reached an agreement to provide investors from its Pre-D, D, and D+ funding rounds a guaranteed cash payout equivalent to an 8 percent annual return. This equates to roughly $1.1 billion in total, based on their initial investment.

Calculated from when they initially invested until March 4, 2026, this payout will be distributed in three equal cash payments by the end of March, June, and September 2026. Additionally, invested parties are safeguarded from financial loss if the company goes public at a lower price than what was originally paid.

Investors holding preferred shares will automatically be converted into standard Class B shares upon listing. Their conversion price is adjusted downwards so they receive additional shares as a form of compensation.

However, Shein’s cash and share offer plans have yet to be commented on publicly.

In the wake of the filings, investors will likely be questioning whether Shein can justify the $40 billion to $50 billion valuation it is seeking in a Hong Kong IPO. This follows revelations of slowing growth, a significant drop in profitability, and increased regulatory and legal uncertainties.

Questions & Answers

What is Shein’s strategy for its IPO?
Shein is considering reducing the investment cost for some late-stage investors as it seeks an IPO at a lowered valuation. The firm may provide early investors with payouts and offer more shares at a decreased conversion price for their holdings.

What has happened to Shein’s valuation recently?
Shein’s valuation has declined from US$98.2 billion in a 2022 funding round to $64 billion in a 2023 round. It is now targeting a valuation of up to $50 billion in its forthcoming IPO.

How are Shein’s investors protected?
Shein plans to provide investors from specific funding rounds a guaranteed cash payout equivalent to an 8 percent annual return, totaling approximately $1.1 billion. Investors are safeguarded from financial loss if the company goes public at a lower price than what was initially paid. Furthermore, investors holding preferred shares will have their conversion price adjusted downwards and receive additional shares as a form of compensation upon the company’s listing.

August 4, 2026
Explore Thai Culture in Style: Vans Nonthaburian Concept Store Opens in Central Westgate, Thailand

Vans has proudly reopened its renovated store at Central Westgate in Nonthaburi, Thailand, introducing a unique retail concept heavily influenced by the region’s rich cultural heritage.

This innovative project was realized in conjunction with Thai artist Songsin Tiewsomboon. The store skillfully weaves together elements of local art, music, and skateboarding, offering visitors an immersive experience that goes beyond a typical retail establishment.

A Fresh Retail Concept

The principal aim of this endeavor is to showcase an expanded offering of Vans footwear, apparel, and accessories. In addition, the store presents exclusive items available only at the Central Westgate location, including the unique Faded Black Souvenir Collection.

The retail concept, coined as ‘Nonthaburian’, draws heavily from Songsin’s birthplace, Nonthaburi. Local landmarks and symbols, such as the Chao Phraya River, fruit orchards, and traditional pottery, are all reimagined within the store. Furthermore, the presence of Firehead, a character from Songsin’s graphic novel ‘Beansprout & Firehead’, adds a distinctive touch to the overall retail concept.

Invitation to Experience Local Culture

Thai Outdoor Group, the distributor of Vans in Thailand, extends a warm invitation to visitors to come and experience the first Vans Select Store in Southeast Asia. The ‘Nonthaburian’ concept offers a unique intersection of local culture, creativity, and Vans’ ‘Off The Wall’ spirit, promising a distinct and immersive retail experience.

Questions & Answers

What is the ‘Nonthaburian’ concept?
The ‘Nonthaburian’ concept is a unique retail theme, which integrates local cultural symbols and landmarks of Nonthaburi, reinterpreted within the store’s design and offerings.

What special features does the Vans store at Central Westgate offer?
The Vans store offers an expanded range of footwear, apparel, and accessories, including exclusive items only available at this location. It also provides an immersive experience, combining local art, music, and skateboarding.

Who is the Thai artist that collaborated on this project?
The artist involved in this project is Songsin Tiewsomboon. His work on the ‘Nonthaburian’ concept and the incorporation of his graphic novel character Firehead are notable aspects of the store’s design.

August 4, 2026
Unveiling the Hidden Loophole in EU’s New AI Labeling Rules: A Threat to Authentic Online Content?

The European Union (EU) understands the need for transparency in AI-generated content and has decided to enforce mandatory labeling of such content. However, this new ruling has not been without its own set of challenges.

EU’s New AI Act

The EU’s AI Act, first introduced in 2023 and approved by the EU Parliament in March 2024 with 523 votes for, 46 against, and 49 abstentions, aims to protect customers and democracy. As stated by EU parliament member Sergey Lagodinsky, the AI Act’s purpose is not solely to protect consumers but also to preserve democracy and the authenticity of online facts. The AI Act came into effect on August 2nd, requiring all AI-generated content to carry a specific label. This rule applies to AI systems that operate in the EU market, including AI-generated images, videos, audio, and text.

The Loophole and Penalties

However, the mandated labeling only applies to content designed to look real, creating a dilemma due to the subjectivity of what constitutes “real.” The law excludes personal content and “evidently artistic” works, including satirical and fictional content, making its interpretation even more ambiguous. The EU has also outlined penalties for violating the rule, with fines as high as €15m or 3% of a company’s global turnover, potentially resulting in billions of dollars for corporations such as Apple, Google, and Samsung. While the August 2nd deadline applies to new AI systems, existing systems will have an additional four months to comply.

It’s worth noting that many companies, particularly large social networks and apps, already incorporate policies regarding AI-generated content. Google, for example, utilizes a special SynthID tool to label billions of images and audio content spanning 60,000 years. Despite these policies, AI images and videos frequently slip through the cracks, making their way onto people’s feeds. With the new EU policy in effect, these companies will need to enhance their enforcement or risk financial penalties.

Questions & Answers

What is the main purpose of the EU’s AI Act?
The EU’s AI Act primarily aims to ensure transparency in AI-generated content, thereby protecting consumers and upholding the authenticity of online facts to safeguard democracy.

What kind of content does the EU’s AI Act mandate to carry labels?
The AI Act requires all AI-generated images, videos, audio, and text that are designed to appear real and operate in the EU market to carry a specific label.

What are the penalties for non-compliance with the EU’s AI Act?
Companies found in violation of the AI Act are subject to fines of up to €15m or 3% of the company’s global turnover, potentially resulting in billion-dollar fines for large corporations.

August 4, 2026
Revolutionizing Communication: Google Unveils Enhanced Customization Features for Google Messages App

As an Android user since 2009, my journey started when I bought the Motorola DROID. This marked my introduction to Google’s beta program, which offers early access to updates for Google’s main suite of apps. Over the years, this decision has proved beneficial because it allowed me to access and review new features before they were widely rolled out to all Android devices.

The following are the primary Google apps with beta programs:

– Google Play Services
– Google Messages
– Google Chrome
– Google Phone (Dialer)
– Google Maps
– Google Photos
– Google Clock
– Google Calculator
– Gboard
– Android Auto

Joining a Beta Program for a Core Google App

To join a beta program for any of these apps, one must first visit the Play Store. Once there, find the specific Play Store listing for the app you’re interested in. Scroll down until you find the “Join the beta” section. A simple tap on “Join” and a confirmation are all it takes to become part of the program. However, you might encounter situations where the beta is full, in which case, you will be notified accordingly.

This brings us to the latest update regarding Google’s testing of new designs for the Google Messages app. To experience these changes, your Android phone needs to be running the v20260731 beta version of the Google Messages app.

Determining the Version of Google Messages on Your Phone

To find out the exact version of the app on your device, navigate to Settings > Apps > See all apps. From there, scroll down to Messages and tap on it. This brings up the ‘App Info’ page for the app. The version number of the app installed on your phone can be found at the very bottom of this page.

Google’s latest update gives Google Messages users the chance to rearrange the icons in the attachment menu. Previously, tapping the attachment icon—the “+” button to the left of the text field in an ongoing chat—would display a 3×3 grid of shortcuts. These shortcuts included Gallery, Camera, GIFs, Files, Real-time Location, Contacts, Sticker, Schedule Send, and One-time Location.

The order of these icons was previously fixed, but with the new update, users can now press and hold any of the nine icons and move them around. This process can be repeated until the shortcut menu is arranged according to the user’s preference.

Questions & Answers

What does the Google Messages app’s latest update offer?
The latest update for the Google Messages app presents users the opportunity to rearrange the icons in the attachment menu to their liking.

How can I join a Google app’s beta program?
To join a beta program for a Google app, go to the Play Store, look up the specific app’s Play Store listing, and scroll down to the “Join the beta” section and tap “Join”.

How can I check the version of the Google Messages app on my phone?
You can find the version of the Google Messages app on your phone by going to Settings > Apps > See all apps. Scroll down to Messages and tap on it. The version number of the app installed on your phone can be found at the very bottom of the ‘App Info’ page.

August 4, 2026
Record-Breaking 5-Year High: Q2 Layoffs Surge in Singapore Amid Business Restructuring

Between April and June of this year, Singapore experienced a significant wave of layoffs, with approximately 4,500 workers losing their jobs. This figure represents the highest rate of retrenchment in over five years, showing a 17% increase from the prior quarter. The last time layoffs had reached this level was during the final quarter of 2020 when 5,640 workers were let go.

The Underlying Reasons

The spike in retrenchment occurred mainly within sectors focused on international operations, such as information and communications and manufacturing. This trend largely resulted from business restructuring processes. Companies within these sectors are particularly susceptible to various factors impacting their operations, including geopolitical tensions, shifts in trade policies, and fluctuations within the global economy. Their dependence on external demand makes them vulnerable and forces them to continuously reassess their operational models, leading to restructuring and rationalization of their workforce.

Despite the surge in layoffs, it is important to note that the numbers are still lower than those recorded during the global financial crisis in 2009 and the Covid-19 pandemic. Furthermore, Singapore’s broader labor market has shown resilience during this period. Overall employment grew by 10,700, and the unemployment rate remained at a steady 2%.

Economic Performance and Projections

Singapore’s economy expanded by 5.7% year-on-year during the same quarter, a rate slightly slower than the preceding three months but exceeding the government’s full-year forecast. This positive economic performance has led several economists to revise their 2026 growth projections upwards.

With regard to labor market projections, there was a marked improvement in June. Approximately 43.9% of businesses surveyed indicated plans to increase their workforce in the following three months, an increase from 40.6% in May. Additionally, around 29.3% of firms expected to raise wages during the same period, up from 23.7%. The expectation to lay off staff fell to 2.7% from the previous 3.2%.

Although these indicators demonstrate the resilience of labor demand, expectations remain below the levels seen before the energy shock triggered by the Middle East conflict. This suggests that businesses are likely to adopt a cautious approach to hiring and wage decisions in the near future.

Questions & Answers

What sectors were most affected by the wave of layoffs?
Primarily, the wave of layoffs occurred within sectors focused on international operations such as information, communications, and manufacturing, largely a result of business restructuring processes.

What factors make these sectors particularly vulnerable?
These sectors are particularly susceptible to various factors, including geopolitical tensions, shifts in trade policies, and fluctuations within the global economy. Their reliance on external demand often forces them to reassess their operational models.

How has the broader labor market in Singapore responded to these changes?
Despite the surge in layoffs, Singapore’s broader labor market has shown resilience. Overall employment grew, and the unemployment rate remained stable. However, projections indicate that businesses may adopt a cautious approach to hiring and wage decisions in the near future.

August 4, 2026
South Korea Plans Tax Hike on Wealthy Homeowners to Stabilize Surging Property Market

South Korea has put forth a proposal that seeks to introduce amendments to the existing property tax laws to levy higher rates on affluent property owners in an effort to stabilize the country’s overheated housing market. This development was made public on Monday following a confidential discussion led by the country’s President, Lee Jae Myung, who held deliberations on the local stock and property markets. The measures come as the government is attempting to calm public resentment over rocketing house prices and an unpredictable stock market.

Finance Minister, Koo Yun-cheol, stated, “Our aim is to reform the real estate taxes in a sensible way to establish a housing market that prioritizes residence. It is important to remember that a house is meant for living, not for speculative buying.”

Key Changes in the Proposed Tax Code

The proposed revisions in the annual tax code, which were announced on Monday, include various changes. The finance ministry has suggested increasing property tax exemptions for individuals who own and live in a single house, while reducing them for others. The proposal also includes a rise in real estate holding tax rates, which could go up by as much as 2.3 percentage points, depending on the property’s price. Furthermore, the tax burden on multiple homeowners and high-priced houses is set to increase due to other changes in the tax code.

Koo Yun-cheol further explained: “For households with a single property, if the value of their house is under 3 billion won (US$2.1 million), their tax burden will decrease. From 3 billion won to 4 billion won, the tax will incrementally increase, and it will normalize for properties valued between 4 billion and 5 billion.”

In the previous month, a series of public discussions were organized by Lee’s administration regarding property market policies. This was in response to a surge in house prices for the 13th consecutive month in June, which marked the highest increase since November 2021.

Other Measures to Stabilize the Economy

The Bank of Korea has also raised concerns about the significant profits in the semiconductor industry leading to high inflation and escalated housing prices. As a result, the bank increased interest rates last month for the first time in over three years and signaled further hikes in the future.

In addition to property tax changes, the ministry is planning to introduce tax exemptions on domestically produced goods for local sales in sectors such as solar energy, wind energy, rechargeable batteries, semiconductors, key materials, and AI robots. The proposed changes are expected to be submitted to parliament by September 3.

Questions & Answers

What is the primary aim of the proposed tax code revisions in South Korea?
The principal goal of the proposed tax code changes is to stabilize the country’s overheated housing market by increasing taxes on affluent property owners.

How will the tax revisions affect homeowners in South Korea?
For individuals who own and reside in a single house, their tax burden will decrease if the house is valued under 3 billion won. From 3 billion won to 4 billion won, the tax will incrementally increase. The tax will normalize for properties valued between 4 billion to 5 billion won.

What other measures are being taken in South Korea to stabilize the economy?
Apart from the proposed tax code changes, the Bank of Korea has also increased interest rates for the first time in over three years due to concerns about high inflation and escalating housing prices. The finance ministry also plans to introduce tax exemptions on domestically produced goods for local sales in several sectors.

August 4, 2026
Vietjet Skyrockets in H1 2026 with Soaring Profits and Massive 600-Aircraft Investment for 2030 Expansion

Vietjet Aviation Joint Stock Company, a leading player in the commercial aviation sector, experienced robust financial and operational outcomes in the second quarter and first half of 2026. This growth was fuelled by stable travel demand, the airline’s ongoing international growth, and its long-term commitment to a order for more than 600 next-generation aircraft, one of the most substantial in the Asia-Pacific region. In addition, Vietjet is creating an all-encompassing aviation ecosystem that includes passenger travel, ground services, air freight, training, engineering, financial services, and technology.

Strong Performance in the First Half of 2026

In the second quarter of 2026, Vietjet reported a standalone revenue of VND25.542 trillion (around US$972 million) and a consolidated revenue of VND30.499 trillion (approximately US$1.16 billion), indicating respective year-on-year growths of 44% and 71%. Profits after tax for the standalone and consolidated results were VND204 billion (approximately US$7.77 million) and VND349 billion (around US$13.3 million), respectively.

For the initial half of 2026, the company achieved standalone revenues of VND45.030 trillion (about US$1.71 billion) and consolidated revenues of VND51.536 trillion (approximately US$1.96 billion), presenting a year-on-year increase of 26% and 44%, respectively. These results accounted for 58.5% and 59.4% of each of the total annual targets.

The standalone and consolidated after-tax profits for the first half of 2026 were VND1.126 trillion (around US$42.6 million) and VND1.372 trillion (approximately US$52.2 million), respectively, reaching 55.9% and 64.5% of their total annual targets.

As of June 30, 2026, Vietjet’s total assets were worth VND149.093 trillion (approximately US$5.68 billion). Its net debt-to-equity ratio was maintained at 2.37 times, while the liquidity ratio stood at 1.36 times, both within safe operating levels for the aviation industry.

Investment in Next-Generation Aircraft and AI Integration

Vietjet continues to invest in more than 600 Airbus and Boeing aircraft, one of the largest orders in the Asia-Pacific region, to aid its international expansion and global network development through 2030.

Earlier this year, Vietjet finalized agreements with Pratt & Whitney for GTF engines to power 44 Airbus A320neo-family aircraft and arranged financing for 12 Boeing 737-8 aircraft.

At the Singapore Airshow 2026, Vietjet and its partners announced the establishment of the Asia-Pacific Aviation Financial Centre, an initiative designed to draw leading financial institutions and aviation companies to Vietnam and bolster the country’s ambition to become a regional aviation hub.

In addition, Vietjet is integrating artificial intelligence into its operations and management through partnerships with international solution providers, including OpenAirlines and Satair, to optimize fuel consumption, enhance efficiency, and reduce emissions.

Questions & Answers

What contributed to Vietjet’s growth in the first half of 2026?
The growth was driven by stable travel demand, Vietjet’s ongoing international expansion, and its long-term commitment to a large order for next-generation aircraft.

What major agreements did Vietjet finalize earlier in the year?
Vietjet finalized agreements with Pratt & Whitney for GTF engines to power 44 Airbus A320neo-family aircraft and arranged financing for 12 Boeing 737-8 aircraft.

What initiatives is Vietjet implementing to enhance operations and management?
Vietjet is integrating artificial intelligence into its operations and management through collaborations with global solution providers, OpenAirlines and Satair, to optimize fuel consumption, improve efficiency, and lower emissions.

August 4, 2026
ThunderDonks New Twist: Launches Bold Campfire Coffee Whisky Blend, Igniting Flavoured Whisky Trend

New Zealand whisky maker, ThunderDonk, has recently introduced its latest blend, Campfire Coffee. This unique combination of Colombian coffee beans and aged single malt whisky is the latest in ThunderDonk’s innovative offerings.

ThunderDonk’s journey began last year in New Zealand, where the brand was crafted by the team at Scapegrace Distilling. Since its inception, its Spiced Maple and Salted Caramel flavours have made quite an impression, selling over 5,000 cases across both New Zealand and Australia within a year.

A Unique Blend

The Campfire Coffee blend pairs rich Colombian coffee beans with toasted coconut flakes and a finely aged single malt whisky from New Zealand. This results in a flavour profile that features strong espresso notes, an undercurrent of toasted coconut, and a pleasant, tropical sweetness.

ThunderDonk’s Managing Director, Mark Neal, expressed enthusiasm about this unusual combination. “Whisky and coffee may seem like an unexpected pairing, but that’s exactly the surprise we’re aiming for,” he said. “Campfire Coffee is the perfect accompaniment for those late-night conversations around the fire. It offers a bold, smooth, coffee-driven flavour, making it ideal for cocktails, a chilled shot, or to be savoured neat.”

Availability and Market Trends

The new Campfire Coffee blend is now available across the nation and comes in three sizes: 700ml, 200ml, and 50ml. The whisky is bottled at an alcohol by volume (ABV) of 33%.

The introduction of this new flavour aligns with current market trends, as flavoured whisky is experiencing a significant surge in popularity. This segment of the whisky market is expanding at a pace that is 50% faster than traditional whisky, making it the fastest-growing segment globally.

Questions & Answers

What is the new flavour that ThunderDonk has launched?
The New Zealand whisky brand, ThunderDonk, has launched a new flavour named Campfire Coffee, blending Colombian coffee beans with aged single malt whisky.

What makes the Campfire Coffee blend unique?
The blend is unique due to its combination of rich Colombian coffee beans, toasted coconut flakes, and aged New Zealand single malt whisky. It offers a bold and smooth coffee-led flavour.

What is the trend in the whisky market?
Flavoured whisky is the fastest-growing segment in the global whisky market, growing 50% faster than traditional whisky.

August 3, 2026
Mammut Gears Up for Swift Asia Expansion Under New Chinese Ownership

Swiss outdoor brand Mammut is poised for an international growth surge following its acquisition by Chinese investment firm CPE from Jacobs Capital. The transaction will make CPE the majority stakeholder in the distinguished 164-year-old outdoor brand. The financial details of the transaction, however, remain undisclosed.

The acquisition follows a five-year period under Jacobs Capital, during which Mammut significantly established its international presence, bolstered its direct-to-consumer business, and enhanced its profitability. CPE intends to promote Mammut’s next expansion stage by boosting its presence in Asia and North America. The investment firm also plans to continue pouring investments into Mammut’s retail network, digital capabilities, and product innovation.

A New Phase, A Strong Commitment

Upon the completion of the transaction, CPE has expressed its full commitment to preserving and enhancing the brand value, technical prowess, and authentic heritage that have made Mammut a globally esteemed outdoor brand. The investment company also plans to support Mammut’s continued global expansion, according to Mark Mao, Managing Director of CPE.

Mammut’s CEO, Heiko Schafer, will maintain his leadership role in the enterprise following the transaction. He assured employees, customers, and partners that Mamut’s values and dedication to quality and performance will remain unchanged. Schafer went on to say that the company’s strategy is on track, and its global journey has just begun.

Established in 1862, Mammut markets climbing, hiking, mountaineering, and winter sports apparel and equipment to over 50 countries. The company has been expanding its footprint across Asia in recent years, given the growing demand for premium outdoor products in markets like China, Japan, and South Korea.

Questions & Answers

What are CPE’s plans for Mammut following their acquisition?
CPE plans to support Mammut’s next phase of growth by expanding its presence in Asia and North America and continuing to invest in the brand’s retail network, digital capabilities, and product innovation.

Who will lead Mammut after the acquisition?
Mammut’s current CEO, Heiko Schafer, will continue to lead the business following the acquisition by CPE.

What is Mammut’s market presence?
Mammut, founded in 1862, sells climbing, hiking, mountaineering, and winter sports apparel and equipment in more than 50 countries, with a growing presence in Asian markets such as China, Japan, and South Korea.

August 3, 2026
Mother Pearl Diversifies with Debut Food and Cocktail Bar at Lan Kwai Fong Flagship

Mother Pearl, a wellness beverage company, has broadened its horizon with the opening of its two-story flagship store in Lan Kwai Fong, Hong Kong. This expansion sees the brand venture into new frontiers, launching its debut cocktail bar and adopting an all-day food and beverage model.

A Comprehensive Retail Strategy

The new store, located in Central, perfectly embodies the brand’s wider retail strategy. It aims to cater to customers throughout the day, blending its signature functional drinks with a wide array of grab-and-go meals, specialty coffee, and sugar-free vegan gelato. The ground floor maintains the brand’s focus on wellness-oriented beverages, providing a variety of functional drinks and coffee infused with unique ingredients like lion’s mane mushroom, berries, and botanicals.

A Great Leap into Mixology

The entrance into mixology is marked by the Crafted Bar housed on the upper floor. The cocktail menu masterfully pairs superior spirits with traditional ingredients like pearl powder and aged chen pi. In a bid to cater to a wider clientele, all signature cocktails are offered in non-alcoholic versions as well.

According to Po Chen, the founder of Mother Pearl, the new flagship store is a place where “people can be inspired to stay curious, keep asking questions about what nourishes them, and feel empowered to embrace a mindful lifestyle.”

The Lan Kwai Fong flagship signifies a significant evolution for the Mother Pearl brand. It extends beyond its foundational wellness beverage offerings, aiming to combine functional beverages, dining, and social experiences all under one roof. This positions the brand firmly within Hong Kong’s wider lifestyle and hospitality market.

Questions & Answers

What is the concept behind the new flagship store of Mother Pearl?
The new flagship store represents an evolution of the brand beyond its original wellness beverage offerings. It combines functional beverages, dining, and social experiences all under one roof.

What is the Crafted Bar?
The Crafted Bar is the first cocktail bar launched by Mother Pearl. It’s located on the upper floor of their flagship store in Lan Kwai Fong, Hong Kong.

What’s unique about the new cocktail menu at the Crafted Bar?
The cocktail menu features a blend of top-shelf spirits with traditional ingredients, including pearl powder and aged chen pi. All signature cocktails are also available in non-alcoholic versions.

August 3, 2026
Chinese Brand Nice Rice Debuts First Store in Hong Kong’s Fashion Hotspot, Causeway Bay

Nice Rice, a popular Chinese fashion brand, has debuted its first outlet in Hong Kong, marking a crucial step in the brand’s expansion outside of Mainland China.

Innovative Flagship Store in a Premium Retail Location

The brand’s flagship store, which spans an impressive 1500 square feet, is located in Causeway Bay, a highly sought-after retail destination. The new Nice Rice store stands alongside a slew of top-tier streetwear brands such as Stussy, Inc., and Carhartt, thereby reinforcing Pak Sha Road’s reputation as a premier fashion retail hub.

Nice Rice, the brainchild of One Sun, was founded in 2018. It has approximately 20 stores spread across China. The brand’s Shanghai flagship stands out, operating as a unique fusion of a coffee and fashion store.

Aligning with Expansion Trends

The move to expand Nice Rice beyond China’s domestic market aligns with a growing trend among Chinese retailers. Causeway Bay, with its international appeal, robust retail infrastructure, and a diverse consumer base, remains a popular choice for brands seeking to establish a flagship presence. The location offers a unique opportunity for brands to engage with both local shoppers and international tourists.

Questions & Answers

What is Nice Rice?
Nice Rice is a popular fashion brand from China that was established in 2018 by One Sun.

Where is the Nice Rice flagship store situated in Hong Kong?
The flagship store of Nice Rice is located in Causeway Bay, a premium retail destination in Hong Kong.

What is unique about the Shanghai flagship store of Nice Rice?
The Shanghai flagship store of Nice Rice operates as a dual coffee and fashion store, which sets it apart from other outlets.

August 3, 2026
Urban Revivo Unveils Cutting-Edge Flagship Store in Beijings Sanlitun District

Urban Revivo, a well-known fashion retailer, recently established a flagship store in Beijing’s bustling Sanlitun district, thereby offering shoppers another destination for their retail therapy.

Modern Design with Traditional Inspirations

The store, designed by MVRDV, a Dutch architectural company, spans an impressive 4120 square meters. Its design intricately incorporates features of traditional Chinese architecture – a nod to the local culture. The façade is inspired by conventional Chinese roofing tiles and showcases suspended aluminum panels in the brand’s distinctive blue. The store’s main entrance and display windows are framed by seven circular openings, reminiscent of traditional moon gates.

The store’s interior design is a homage to Beijing’s historic hutong neighborhoods. It introduces grey brick finishes and presents a unique layout and material palette on each floor. The flagship store also houses six specially themed ‘Bold Rooms’, devised for product displays, seasonal presentations, and collaborations with other brands.

Jacob van Rijs, founding partner of MVRDV, said, “The aim of this project was to design a space that resonates with its surroundings while also mirroring the international ambitions of Urban Revivo. As such, we integrated local elements, such as Beijing’s roof tiles, with modern techniques to craft spaces that evolve with the customer’s experience, right from the color-changing façade down to the minutest design detail inside.”

Urban Revivo’s Global Presence

Established in 2006, Urban Revivo has successfully expanded its presence to over 380 stores worldwide. The Chinese fashion retailer made its foray into the Hong Kong market in the previous year with an 813 square-meter flagship store at the Harbour City shopping center.

Questions & Answers

What is unique about Urban Revivo’s new flagship store in Beijing?
The store’s design incorporates elements of traditional Chinese architecture and is inspired by Beijing’s historic hutong neighborhoods.

Who designed Urban Revivo’s new flagship store?
The Dutch architectural firm MVRDV designed Urban Revivo’s new store in Beijing.

When did Urban Revivo expand into the Hong Kong market?
Urban Revivo ventured into the Hong Kong market last year with a flagship store at the Harbour City shopping center.

August 3, 2026
Malaysia Boosts Digital Infrastructure with New SALAM Submarine Cable Network

Malaysia is making strides in its efforts to enhance digital connectivity within the country. The nation’s communications regulatory body is encouraging licensed telecommunications entities to consider participating in the construction of a new domestic underwater cable network.

The Malaysian Communications and Multimedia Commission (MCMC) has prompted qualified license holders to indicate their interest in this groundbreaking project on July 16. They were also asked to present an initial Universal Service Plan for evaluation. The regulator requested draft proposals, however, they did not provide a final date for submissions.

The planned network, named SALAM (Sambungan Kabel Dasar Laut MADANI), is projected to extend over 5,582 kilometers. It will consist of four submarine cable segments connecting ten landing stations scattered throughout the nation. SALAM’s primary objective is to bolster Malaysia’s internal communications infrastructure by creating a new underwater backbone that connects Peninsular Malaysia with Sabah and Sarawak.

According to Communications Minister Fahmi Fadzil, the new network is expected to eventually replace the ageing SCREAM cable system. This system has been a significant domestic link for over a decade.

With the introduction of SALAM, the MCMC plans to further augment domestic transmission capacity. It also aims to support multiple services and industries such as nationwide 5G expansion, broadband services, cloud computing, artificial intelligence applications, data centers, and other digital industries. Funded under Malaysia’s USP framework, SALAM will assist in financing communications projects in underserved regions, with contributions sourced from qualifying telecommunications license holders.

Oscar Ling, a Sibu Member of Parliament, applauded the project, stating that it would enhance connectivity between Peninsular Malaysia, Sabah, and Sarawak. He also noted that it would help deliver more reliable internet services to communities in Sibu and across Sarawak.

The progression of the project is contingent on the expressions of interest and draft Universal Service Plans submitted by eligible telecommunications companies. The MCMC has not yet announced when these submissions will be made public.

Questions & Answers

What is the aim of the SALAM network?
The SALAM network aims to bolster Malaysia’s domestic communications infrastructure by creating a new underwater backbone that connects Peninsular Malaysia with Sabah and Sarawak.

What services and industries will SALAM support?
SALAM plans to support multiple services and industries such as nationwide 5G expansion, broadband services, cloud computing, artificial intelligence applications, data centers, and other digital industries.

Who is funding the SALAM project?
The SALAM project will be funded under Malaysia’s USP framework, which finances communication projects in underserved regions with contributions from qualifying telecommunications license holders.

August 3, 2026
Indonesian Telecom Boom: Mobile Data Revenue Fuels Market Surge Amid Decline in Voice Services

The mobile services sector in Indonesia is anticipated to observe a compound annual growth rate (CAGR) of around 3.4%, thus escalating from USD 10.2 billion in 2025 to USD 12.1 billion by 2030. This expansion is principally fueled by the escalating proceeds from mobile data services, offsetting the continuous decrease in mobile voice and messaging revenues.

Shift in Mobile Services Revenue

The forecast for mobile services in Indonesia suggests that the revenue from mobile voice services is slated to reduce during the predicted period. This reduction is ascribed to a gradual decrease in mobile voice ARPU as consumers increasingly opt for OTT communication platforms, whereas service providers are incorporating free voice minutes in their offerings. In contrast, mobile data service revenue is projected to grow at a CAGR of 4.8% from 2025 to 2030. This growth is stimulated by the increasing number of mobile internet subscriptions and the growing adoption of high-ARPU 5G services. The demand for data services is further boosted by cross-border travelers, business users, and high data consumption in urban areas, signifying a market shift towards data-centered monetization.

The average monthly data usage over mobile networks is anticipated to escalate from 20 GB in 2025 to 30.3 GB in 2030. This rise can be attributed to the surge in consumption of online video and social media content on mobile networks, spurred by the expansion of 5G networks and enticing data-focused plans provided by mobile network operators.

The Rise of 5G and Role of Telkomsel

Even though 4G is expected to maintain its stronghold in mobile technology subscriptions in 2025, its share of total subscriptions is forecasted to reduce as users transition to faster, more reliable 5G services. There will be a considerable increase in the number of 5G subscriptions in Indonesia, credited to the wider availability of reasonably priced 5G-enabled smartphones and an increasing variety of premium data plans for high-bandwidth applications. The Indonesian government has set an aim to expand 5G network coverage to over 30% by the end of 2030.

In 2025, Telkomsel is set to dominate the Indonesian mobile services market in terms of subscriptions and is predicted to uphold this supremacy throughout the forecast period. This is attributed to its comprehensive 4G coverage and aggressive expansion of its 5G infrastructure, with over 97% population coverage with 4G by March 2026 and more than 2,500 5G base stations across 56 cities by mid-2025.

The future of Indonesia’s consumer mobile market will revolve around increased mobile data consumption, accelerated 5G migration, and rising demand for high-speed digital experiences. As users gravitate towards video streaming, social media, and data-intensive applications, operators will concentrate on expanding 4G/5G coverage and introducing segmented data plans to drive adoption and monetization.

Questions & Answers

What is driving the growth of the mobile services market in Indonesia?
The growth is primarily being driven by escalating revenue from mobile data services, which offsets the ongoing decline in mobile voice and messaging revenues.

What is the projected average monthly data usage over mobile networks by 2030?
The average monthly data usage over mobile networks is anticipated to escalate from 20 GB in 2025 to 30.3 GB in 2030.

Who is expected to lead the Indonesian mobile services market in 2025?
Telkomsel is expected to dominate the Indonesian mobile services market in terms of subscriptions in 2025. It will likely maintain this position throughout the forecast period due to its comprehensive 4G coverage and aggressive expansion of 5G infrastructure.

August 3, 2026