Retail News CRM

Author: Mei Ling Tan

  • Hyundai Motor now ready for big races

    Hyundai Motor now ready for big races

    Hyundai Motor finalized its driver lineup for this year’s major motorsport competitions, the company said Monday.  The automaker said its target this year is to win championship titles at the World Rally Championship (WRC) and the World Touring Car Cup (WTCR). In WRC events, the carmaker participates with its own team. In WTCR events, it supplies its cars to professional racing teams.

    For the WRC, the company said last year’s vice champions Thierry Neuville and Nicolas Gilsoul – a team of driver and co-driver – will be joined by Norwegian crew Andreas Mikkelsen and Anders Jaeger in all events. This year’s WRC has a total of 14 rounds. A composite score in those events will decide the winner.

    Dani Sordo and Carlos del Barrio will take part in eight events starting at Rally Mexico.

    Nine-time WRC champions Sebastien Loeb and co-driver Daniel Elena, who joined the Hyundai team from last month on a two-year contract, will take part in six rounds.

    “I am pleased to be joining such a great lineup of crews,” Loeb said. “It is clear to me that the car was a competitive package in 2018, which enabled the team to fight for the championship titles right to the very end.”

    Hyundai Motor’s team – named Hyundai Shell Mobis – came in second at last year’s WRC using an i20 coupe WRC vehicle.

    The automaker also announced four drivers who will participate at this year’s WTCR event with Hyundai’s i30 N TCR racing car. The carmaker races in the Customer Motorsports category with competitors that include Audi, Volkswagen and Ford.

    Hyundai’s customer team consists of four drivers, each driving on their own. Last year’s champion Gabriele Tarquini and fourth place driver Norbert Michelisz are driving Hyundai cars once again. Augusto Farfus and Nick Catsburg are newcomers.

    Hyundai Motor has been active in motorsport events as it has a positive influence on European sales thanks to a huge popularity of motorsports with European customers. In the long run, the carmaker hopes to upgrade its image from a value-for-money carmaker to a company known for high-performance cars.

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  • Uniqlo sales performs well globally, not in hometown

    Uniqlo sales performs well globally, not in hometown

    Fast Retailing Group has reported a decline in revenues for Uniqlo Japan against broader successes internationally in its first quarter. A sharp profit decline on sluggish sales of seasonal ranges during a warm winter in Japan has given rise to disappointing results in the Uniqlo brand’s home territory. Uniqlo Japan posted revenues of ¥246.1 billion (US$2.27 billion), a decrease of 4.3 per cent year on year, with first-quarter profit before taxes of ¥111 billion ($1.03 billion), down 5.7 per cent; and profit attributable to owners of the parent firm of ¥73.4 billion ($678.4 million), down 6.4 per cent. Online sales expanded favourably in the market, however, showing an increase of 30.9 per cent.

    Uniqlo International saw an operating profit far exceeding that of Uniqlo Japan, with revenues at ¥291.3 billion (2.69 billion) up 12.8 per cent. Uniqlo Greater China and Uniqlo South Korea both reported higher sales and profits despite the dampening effect of the warm winter. Uniqlo Southeast Asia & Oceania continued to report significant revenue and profit gains.

    The report said Fast Retailing’s consolidated business estimates for the financial year ending August 31 remain unchanged from the initial forecasts released last October, predicting an 8 per cent expansion in revenue and 14.3 per cent increase in operating profits.

  • Ananth Narayanan steps down as Myntra Jabong CEO

    Ananth Narayanan steps down as Myntra Jabong CEO

    Fashion e-tailer Myntra Monday said its CEO Ananth Narayanan has quit, a development that ends months of speculation about his exit following a recent re-jig at its parent group Flipkart. In a statement, Myntra said Narayanan has decided to step down as CEO of Myntra and Jabongto pursue external opportunities. Amar Nagaram has been named as Head, Myntra and Jabong, and will report to Flipkart Group CEO Kalyan Krishnamurthy, it added.

    According to a report, there were speculations that Narayanan would quit after a new reporting structure was put in place when Binny Bansal — the then CEO at Flipkart Group (which owns Myntra and Jabong) — quit the company.

    As a part of the new structure, Myntra and Jabong were brought under Flipkart, with Narayanan reporting to Krishnamurthy.

    “Ananth has played an important role in making Myntra and Jabong into a formidable player in the fashion e-commerce market and steering the company towards sustainable growth,” Myntra said in its statement Monday.

    It added that over the last three and a half years, Narayanan and the management team have built a strong foundation for the company.

    “Myntra and Jabong are an important part of the Flipkart group serving our valuable customers. The company will continue to execute the growth strategy and leverage synergies with Flipkart as appropriate,” it said.

    The strong bench strength and new leadership at Myntra and Jabong will allow the business to continue on its strong and sustainable growth trajectory, the statement added. Nagaram, who recently moved to Myntra from Flipkart, has been working with the group for around seven years.

    “…(Nagaram) has played a pivotal role in making shopping accessible, delightful and affordable on every connected device. Most notably, he led the efforts on revisiting the boundaries of mobile web, making the experience on it as good as native,” the statement said.

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  • Remarkable Asian Enterprises That Will Have an Impact in 2019

    Remarkable Asian Enterprises That Will Have an Impact in 2019

    Southeast Asia has become a shining star with its several enterprises in the area. Singapore, especially, has become one of South Asia’s most attractive countries for entrepreneurs and investors, thanks to investments by technology companies, government support, and low tax rates. Singapore is closely followed by Malaysia and Indonesia in this competition.

    Malaysia, one of the three strongest economies in Southeast Asia, is one of the few countries that provide state support to entrepreneurs. These competing enterprises of the region have been developing products in the fields of machine learning and blockchain to keep up with the technology age. Entrepreneurs focus on developing problem-solving oriented products to preserve and expand their market shares. Here is a list of five Asian enterprises, which will have a great impact on the industry in 2019.

    Naulo

    Naulo is a restaurant in Kathmandu, Nepal. What makes it unique is the fact that it operates with five waiter robots, two named Ferry and three named Ginger. Customers choose their orders by touching the screen on the robots and then the robots serve the orders to the tables. With this digital service, the restaurant was the first venue in Southern Asia to use robots as waiters.

    Designed and manufactured by the Nepali technology company Paaila Technology, Robot Ginger has the ability to recognize objects and conversations, process natural language, auto-dock and even make jokes and answer basic IQ questions in both English and Nepali. Binay Raut, CEO of Paaila Technology and Naulo Restaurant, said that their new target is “to introduce this Nepali innovation in the international market.” So, we are highly like to see more robots in the restaurants in 2019 as well!

    Groove X

    Japanese engineers have a great invention for those who feel lonely! The start-up company, Groove X’s robot has the name Lovot, a combination of the words ‘love’ and ‘robot’. This penguin-looking robot uses artificial intelligence technology to move, react when it is called or loved, and sleep when it is cuddled. Lovot will compete with Sony’s artificial intelligence-equipped robot dog, Aibo, and will be released towards the end of 2019. As Groove X says, it will be “the one and only robot in this universe that heals your heart.”

    Glueck Technologies

    It goes without saying that we all depend on technology. Various technologies impact and improve almost every aspect of our lives: online education to space travels, self-driving cars to online poker are all astonishing features of technology once thought to be impossible.

    Glueck takes technology and artificial intelligence to another level. Using artificial intelligence and deep learning technologies, Glueck offers a product that enables machines to understand people’s emotions. With the algorithm they’ve developed, the analyzes people’s emotional states and their responses to real-life alerts. This unique product is designed to produce the right message to the right audience in the media, advertising and e-commerce fields.

    Dahmakan

    Dahmakan has become the first food distribution company to create an important capital in Southeast Asia. It provides first-class, chef-made food delivered to customers’ doorsteps, and appeals to a niche audience. The company’s founders are former FoodPanda employees, which is the biggest food distribution chain in Asia. Dahmakan plans to rapidly expand to other countries besides Malaysia and Thailand. You can also expect Dahmakan at your own doorstep in 2019!

    GrabCar

    GrabCar is a car-sharing app with a Southeast Asian origin. While studying at Harvard Business School in 2011, Tan Hooi Ling and her classmate, Anthony Tan, decide to take part in an entrepreneurship competition and at the end of the competition GrabCar, first known as MyTeksi, was born.

    Although it was first designed to adopt a smart local business strategy, GrabCar is currently one of the biggest shareholders in Asia in the car-sharing applications market. It operates in eight Southeast Asian countries from Malaysia to Singapore, Vietnam to Myanmar, Thailand to the Philippines.

    In March 2018, Grab announced that it had acquired Uber’s Southeast Asia operations integrating Uber’s ridesharing and food delivery business in the region into its own platform. As Grab said, in 2019 it “will drive towards becoming the number one online-to-offline mobile platform in Southeast Asia and a major player in food delivery.”

     

     

  • Top 3 reasons why Fintech is rising in Asia

    Top 3 reasons why Fintech is rising in Asia

    Fintech or financial technology is a new trend in the financial sector that is set to blow away the banking industry and you are a part of it. Yes, if you are making online payments and indulging in virtual currencies you are helping fintech grow. From what was just a startup is now a multimillion-dollar Philemon. From the United States to Asia it has quickly progressed into various regions across the globe. We will be looking into the 3 main reason for Fintech progression in Asia. Here is how fintech is rising in Asia

    1. Supports Start-ups

    Fintech has massively supported start-ups with its financial techniques. Instead of depending on banks, start-up have financial technologies to develop their businesses. From automatic payment methods, managing in and outflow of cash to a cloud-based system for all financial depositories Fintech provides a better more advanced way of money management to start-ups. Hence, a lot of companies have quickly adapted to this new wave of technology. With the introduction of Fintech Asia and especially in Asia, there are more than a thousand Fintech companies running strong helping these start-ups with all their financial needs.

    1. Rise of Internet

    Application of the internet has seen a sudden steep in Asia. Contributors being widespread internet connection and cheap smartphone availability. From small grocery shops to super markets all have accept the trend of virtual currency. Individuals knowing that they don’t have to visit the banks when they can manage their finances with the click of a button, they have entrusted their finances with Fintech. Fintech has successfully penetrated Asia’s local market with the support of rise in internet connectivity in recent years.

    1. Young Population

    The key to success for Fintech in Asia has a lot to do with its young population. Millennials are widespread amongst Hong- Kong, Singapore, Tokyo and other regions. This group of population is tech-savvy, digitally advanced and very accepting of the digital norms. They have been quick in adapting to fintech’s functionalities. Be it young entrepreneurs or working class individuals everyone has found a better more easy way to deal with their finances. Hence, Financial Technology has easily found its way into various regions of Asia.

    To sum it up

    Fintech is projected to become a billion dollar industry by the end of 2020 in Asia. Financial Technology has also merged with various banking institutes and financial organization in India. Applying for credit cards , personal loans, making your credit card bill payments and cashless transaction easier than before.

    Especially with the low margins of credit card users in India due to trust factors Fintech plans on providing a better substitute. Although a part Fintech i.e Cryptocurrency is still a controversy around the globe. It’s another service including investment techniques, finance management, and virtual payments are widely appreciated and used.

    Yes, the question of security is still up. Being an online phenomenon major questions are about security and spamming. However, Fintech organizations are making their security stronger by the day.

     

  • L’Occitane adds Elemis to portfolio

    L’Occitane adds Elemis to portfolio

    Hong Kong-listed cosmetics retailer L’Occitane International is to buy privately owned beauty and skincare brand Elemis for about US$900 million. “This is L’Occitane’s largest acquisition since listing and a major step forward in building a group of premium beauty brands,” said CEO Reinold Geiger in a statement.

    The move is part of a strategy to boost L’Occitane’s sales in the UK and the US. In a statement, the company said the the deal will allow Elemis to expand into new markets and boost L’Occitane’s business in markets in which it is not so strong as yet.

    L’Occitane has agreed to buy the Elemis brand from Steiner Leisure, which owns the US business, and Nemo UK, which owns the European business.

    The deal, to be funded by cash and bank loans, will be closed in the first quarter of this year.

    L’Occitane, which listed in Hong Kong in 2010, currently has 3285 outlets in 90 countries, including 1555 stores it owns and operates directly. Last financial year it achieved a profit of €141 million on sales of €1.3 billion.

  • Vietnam digital media giant acquires US network

    Vietnam digital media giant acquires US network

    Media giant Yeah1 Group has acquired ScaleLab, a U.S. Youtube multi-channel network, for $20 million. ScaleLab is expected to receive $12 million upfront and another $8 million later if business targets are achieved two years after the merger. ScaleLab executives have said the company agreed to the sale because it requires an infusion of funds to expand operations and desired to integrate with Yeah1’s media ecosystem.

    ScaleLab plans to expand into Asia, where Yeah1 connects Asian talents and influencers with the international market.

    Tri Dao Phuc, CEO of Yeah1, said the strategy over the next three years is to “acquire premium social media brands, optimize our existing channels to boost viewership and performance.”

    Headquartered in Hollywood, the U.S., ScaleLab is best known as the Youtube partner of Jake Paul, Jimmy Donaldson, Mariale Marrero, Erika Costell, Katie Angel, and many other YouTube stars.

    It has a roster of 1,750 influencers and 400 million subscribers, and gets three billion Youtube views a month.

    The five-year-old company was recognized as the fastest-growing media company in the U.S. by Inc. Magazine last September.

    This is not Yeah1’s first acquisition in the social media field. Last year it had bought two multi-channel network (MCN) companies, SPRINGme of Thailand and Something Big of France.

    Founded in 2006 it is Vietnam’s largest multi-channel media ecosystem, operating TV channels, movie studios, Youtube networks, and digital news.

    It was also the first media company to list when it got into the Ho Chi Minh Stock Exchange (HOSE) last June.

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  • Heytea opens store in Hong Kong

    Heytea opens store in Hong Kong

    On December, 24 Sha Tin New Town Plaza, in Hong Kong, welcomed Heytea. A huge crowd queuing up for more than 3 hours just to get a cup of Cheese Tea from the Chinese tea-drink brand Heytea was the protagonit that day. Due to the buy-one-get-one free promotion during the Christmas holidays, people started lining up as early as 6:00 am.

    Heytea officially announced that it had opened its first Hong Kong store only on january, 3. They chose to expand into Hong Kong’s market due to the city’s international status as well as its vibrant food and beverage scene. It helps to promote Heytea as a popular and innovative tea-drink brand among global consumers, especially younger generations.

    The store not only offers its signature cheese tea, but also a great variety of fruit tea and ice cream. The tea is imported from all over the world which aims to renew the traditional tea culture.

    Also, it introduces an exclusive product combined with Hong Kong local food culture, namely, the Eggette Roll Sundae, adding new vitality into the brand, according to its founder Nie Yunchen.

    He said “geographically, Hong Kong is adjacent to Guangdong Province and Shenzhen. Hong Kong people already know our brand and often buy our tea when they visit Shenzhen or other cities in Guangdong. In order to thank our supporters and cope with an increasing demand of our tea, we think it is the right time to extend our reach to the city.”

    Zhenglei, Development Director of Heytea, confirmed that Heytea opened its second Hong Kong store in Causeway Bay on 12 January 2019. “We are quite confident that our tea products will be very welcomed by our customers in Hong Kong.”

    In order to avoid a huge crowd like the last opening, Heytea planned to replace the traditional order and payment method by ordering through their mobile app.

    The second shop of Heytea located in Causeway is named as “Heyteago”, their customer can order online in anytime, anywhere for a cup of tea-to-go. Therefore, cheese-tea lovers can save their time and no need to queue up for 3 hours outside Heytea again.

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  • Tech startup Blinq to focus on Southeast Asia

    Tech startup Blinq to focus on Southeast Asia

    Tech startup Blinq is targeting Southeast Asia with software which allows users to virtually try on and purchase designer apparel and accessories from online luxury and contemporary fashion retailers globally. “Blinq uses AR and algorithmic patterns to provide users with the latest trends and personalised fittings from their digital devices,” explains entrepreneur and Blinq founder Bob Chua.

    “It also allows users to choose how they would like to consume fashion, which may not necessarily be to buy, but to also rent, subscribe, or pay later for latest luxury designs from major and upcoming brands across Southeast Asia.”

    A rental-subscription model provides users the option of renting designer apparel and accessories, while the back-end automated warehousing operation enables brands to fulfil their products throughout the Asia-Pacific region.

    Citing McKinsey’s global fashion report, Chua says the personal luxury market is predicted to grow to US$500 billion by next year, with close to 44 per cent coming from Asia.

    “There is clear retail disruption happening everywhere, and e-commerce adoption in the luxury space is growing at a staggering rate here in Asia. We see a major opportunity.

    “In a way we are fusing the successful models of Asos, Farfetch, Rent-the-Runway and The Real Real into a single platform, while targeting affluent Asians.”

    Chua says the company plans to monetise its platform by white-labelling its virtual changing room AR features to other e-commerce sites, which will ultimately reduce returns and increase purchasing propensity for retailers.

    He says Blinq has secured significant seed funding and is currently en route to a next fundraising round.

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  • Bamboo Airways to begin flying next week

    Bamboo Airways to begin flying next week

    Bamboo Airways, Vietnam’s newest airline, has begun ticket sales and its first flight is scheduled to take off next Wednesday. The airline has just officially opened ticket sales on Saturday. It has three ticket classes, Economy, Flexible Economy and Business Class, and unlike other low-cost carriers like VietJet and Jetstar Pacific, all passengers will be served hot meals or snacks.

    The carrier has announced a slew of promotions such as combining air tickets with hotel rooms at resorts owned by FLC Group, its parent company, and golfing.

    The airline’s vice president, said the first flights would be to Hanoi, HCMC, Danang and popular tourist destinations such as the central provinces of Quy Nhon, Quang Binh and Thanh Hoa and the northern province of Quang Ninh.

    Bamboo Airways start off with 60 domestic flights a day. Later this year it will fly to Japan, Korea and Singapore.

    Bamboo Airways was founded in mid-2017 with a charter capital of VND700 billion ($30 million), which it increased to VND1.3 trillion ($55.68 million) recently.

    The airline has signed deals to buy 24 Airbus A320neo and 20 Boeing B787-9 Dreamliner aircraft for around $8.6 billion.

    The four other carriers currently in Vietnam are Vietnam Airlines, Vietjet Air, Jetstar Pacific, and VASCO.

  • Samsung to introduce S10 on Feb. 20

    Samsung to introduce S10 on Feb. 20

    Samsung Electronics on Friday sent out invitations to its next unpacking event, where it is widely expected to unveil the next model in its Galaxy S smartphone series, the S10. The event is taking place on Feb. 20 at 11 a.m. at the Bill Graham Civic Auditorium in San Francisco. Samsung noted that it will “unveil new devices that promise to usher in new Galaxy experiences based on 10 years of innovations” in a press release, without detailing what phones will be showcased.

    The major question is whether the phone maker will unveil details of the foldable phone that it has been developing for the last few years. According to an article by the Wall Street Journal, the tech company plans to show a “fully functional foldable-screen handset” during the unpacking event. Samsung declined to confirm the claim.

    There is a possibility that the model could be briefly shown, like at the Samsung Developer Conference in November last year. A proof-of-concept version of its foldable phone was briefly introduced on stage at the event. The phone is often referred to as the “Galaxy Fold” and “Galaxy F,” but the electronics giant has yet to confirm the actual name for the highly anticipated product.

    Some leaders of Samsung’s mobile carrier partners said they have already seen the company’s foldable phones in closed door meetings at the Consumer Electronics Show that ended Friday.

    SK Telecom CEO Park Jung-ho said during his press briefing at the electronics exhibition that “Samsung did not open up the foldable phone to general visitors, but showed the phone to me,” adding “the phone is in good shape.”

    Park said the phone will be able to offer an improved media consumption experience.

    LG U+ CEO Ha Hyun-hwoi also said he had seen two foldable phones during his visit to CES booths, though he did not say whether they were from Samsung. Ha said they come in “various shapes” and added that they seem to be “early stage phones that will enable customers to experience various video and gaming contents newly offered on the 5G network.”

    Some other media reports, however, suggest Samsung may only show off three variants of its Galaxy S10 and hold off on its foldable phones until the Mobile World Congress (MWC) in Barcelona, which kicks off five days after the unboxing event.

    The Galaxy S10 is expected to come in a basic 6.1-inch screen version, a plus model with a larger 6.44-inch screen and a budget model with a 5.8-inch screen. A fourth variant equipped with 5G connectivity is expected to hit the market later in the year. The 5G-connected model is rumored to come with four cameras on the back.

    The Korean electronics giant unveiled its latest Galaxy S series a day before the massive mobile trade show held in Spain, but this year’s event comes about a week earlier than usual.

    It may be a move to put the spotlight on its S10 models for a few days before they get drowned out by stories about the foldable model they may intend to show off at MWC.

    The unpacking event in San Francisco, where its rival Apple is based, is expected to attract 3,000 people from global companies and the media, according to Samsung. A localized unpacking event will also be held simultaneously in London.

    Attracting global attention by coming up with an innovative design and feature upgrades is crucial for Samsung, which reported a sharp decline in earnings in the fourth quarter last year.

    Its operating profit in the October-December quarter fell 28.71 percent on year to 10.8 trillion won ($9.6 billion), according to a tentative earnings report the company released earlier this month.

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  • Starbucks opens its Coffee Sanctuary in Bali

    Starbucks opens its Coffee Sanctuary in Bali

    Starbucks has opened its largest Southeast Asian location in Bali. The 20,000sqft Starbucks Dewata Coffee Sanctuary builds on 16 years of innovation in design, customer experience and community impact for the brand in Indonesia, where there are 370 Starbucks outlets nationwide. Customers can enjoy Starbucks handcrafted core and Reserve beverages within the store’s locally-inspired design that celebrates Indonesian tradition.

    The store pays tribute to the role that Indonesia, the fourth largest Arabica coffee-growing region in the world, plays in the Starbucks business. Sumatran coffee has been a staple offering at Starbucks since 1971.
    “We began sourcing Indonesian coffees more than four decades ago and have always been struck by the sense of community and care for the coffee journey at every step,” said Starbucks Coffee Company CEO Kevin Johnson.

    View the gallery of the new outlet below (8 images) :

    “The Starbucks Dewata Coffee Sanctuary amplifies our passion for the coffee journey, our ongoing commitment to Indonesia’s rich coffee culture, and our tireless pursuit of fostering moments of connection between our partners and customers. The Coffee Sanctuary marks the 10th Starbucks Reserve Bar store in Indonesia, one of 185 stores around the world, with the majority in Asia. This is Starbucks at its best, and we are proud to open the doors of this unique experience in one of Southeast Asia’s most dynamic markets.

    Visitors enter the store through an arabica coffee farm, try their hand at coffee bean de-pulping and washing during harvest season, dry and rake green coffee beans, visit budding seedlings in the nursery, take in the store’s locally-inspired design featuring traditional Balinese craft and Indonesian art, and enjoy the more than 100 Dewata-exclusive handcrafted beverages, food and merchandise, including the Lavender Latte.

    The  Starbucks Dewata Coffee Sanctuary store’s expansive interior is inspired by traditional Balinese houses with free-flowing, connected rooms designed to promote discovery from one space to the next.

    “Bali has an envied reputation as one of Asia’s top travel destinations and Indonesia is one of coffee’s most extraordinary coffee origin regions,” said Starbucks Indonesia director Anthony Cottan said.

    “So we’re excited to invite customers here to ignite their senses and explore the seed-to-cup coffee journey at this unique Coffee Sanctuary. We’re very pleased to further strengthen the longstanding partnership between Starbucks and [licensee] PT Sari Coffee Indonesia with this truly one-of-a-kind Starbucks store, inspired by and filled with the finest examples of Indonesian art, design and craftsmanship.”

    To support the future of coffee, Starbucks Indonesia has committed to donating 100,000 coffee seedlings to farmers annually.

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  • Look more inside to Shanghai Tang Pacific Place

    Look more inside to Shanghai Tang Pacific Place

    A “plethora of paints and fabrics that radiate warmth” are at the core of the redesigned Shanghai Tang Pacific Place boutique. Design house Stefano Tordiglione Design (ST) oversaw the executive design and project management of the revamped 154sqm space, which opened last November. The project took six months to complete. Shanghai Tang is a privately owned, modern luxury brand which fuses current fashion design concepts with Chinese-inspired elements steeped in history. It is renowned for its use of bold colours, often contrasting, in fashion and homewares.

    Taking the lead in fine tuning the selection of materials, fabrics and colours, the design team created what creative designer Carlotta Turini describes as “a multi-sensory shopping experience to mirror the richness and beauty of Chinese culture”.

    Among the features are the changing rooms and home section, with the use of famed Jim Thomson wallpapers, giving the design an ‘Asiatic flavour’, with alternative wall coverings and racks fine tuned to create a sense of comfort within the shopping centre.

    The womenswear area has curved walls and a soothing beige fabric contrasted with bright paint, while the menswear area is elegant, warm and cozy, designed with dark brown wood and clean lines.

    These areas are united through a relaxed central seating area featuring art deco furniture.

    “To promote fluid movement through the space, the walls have niches features to provide attractions to the eye throughout the corridor as customers move between retail sections,” says Turini.

    The team had to interpret the original design drawings, developing a unique concept that is now demonstrated throughout the store.

    Efficient project management was vital to the success and on-time completion of the Shanghai Tang Pacific Place redesign.

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  • The Indian Luxury Outlook 2019

    The Indian Luxury Outlook 2019

    As 2018 comes to a cold & wintry end, as political environment hots up, as new alliances, mergers and acquisitions take shape in business & politics, as GST corrections & FDI norms in ecommerce are tinkered, what is it that the Indian Luxury Industry can look forward to?

    Assocham figures continue to be optimistic and bullish. As per last projection, not only is the industry expected to be of a size of USD 30b by the year end 2018, but is also to continue its growth trajectory unhindered. But alas, the suddenly disturbed seemingly stable political applecart, the floundering rupee, the growing uncertainty, and the eminent global slowdown of 2020 looms large. Ground reality for luxury could be different. Industry insiders, trade analysts and brands all alike seek the pot of gold at the end of the rainbow.

    A seeming direction that the Indian Luxury Industry could take or adopt from the rest of the world appears as under:

    1. Consolidation is the key: With Reliance brands having taken over Genesis Retail in 2018, the largest fashion and accessory conglomerate of Indian Luxury and premium space has taken shape. With almost no competition, the all-powerful group is set to be the only point of entry into India. Surely independent brands and smaller groups continue to offer their wares, the sheer strength, negotiation powers and might of Reliance will perhaps be the single most driver of the fashion & Luxury space.
    2. Power of the Common Man: Someone wise enough once said ‘don’t underestimate the power of the common man’. Sure enough, luxury has slowly spread its wings to the hitherto sleepy tier I & tier II towns. The fast emerging Indian market is not only witnessing demand for luxury products from the Metros but also Tier I and Tier II cities which have a sizable number of HNIs (High Net-worth Individuals). Alongside, an increase in wealth for the middle class coupled with internet penetration has resulted in newer segments of first-time luxury buyers. This has given ample space for a whole lot of brands to set up shop in India, retail their brands through distribution networks. This surely will be the next growth driver for Luxury in India.
    3. Travel, Tourism &Hospitality will drive further growth to the value pie: With increased e-visa processing, faster on the ground arrival support, eye catchy Incredible India campaigns, the tourist inflow from within and outside is likely to further increase. Statistics according to a new report of the World Travel and Tourism Council (WTTC) reveal that India’s travel and tourism sector ranks 7th in the world in terms of its total contribution to the country’s GDP.During January-October 2018 FEEs from tourism increased 8.30 per cent year-on-year to US$ 23.54 billion.


      Source : www.ibef.or

       

    4. The Great Big Fat Indian Wedding carnivals will drive luxury: The wedding industry and the wedding service industry sets unprecedented benchmarks. According to a 2017 KPMG report titled Market Study of Online Matrimony and Marriage Services in India, the marriage services industry is estimated to be worth approximately US $53.77 billion (Rs 3, 68,100cr).This is one sector which adds incremental sales to all sectors of the industry – from beauty, fashion, accessories,  photography, jewellery, travel, hospitality, gifting to also the cuisine segment. With high standards being set by the likes of stars like Anushka Sharma – ViratKohli ; Priyanka Chopra – Nick Jonas& finally the Ambani weddings, the aspiration of average Indian to splurge on weddings is reaching a new peak. With Rolex watches as gifts to the entire wedding procession to bespoke clothing from super luxury brands to not only the entire family but the whole procession adds further fillip to the trade.
    5. Technology and Luxury: From high end home appliances such as Sub Zero Wolf to tech controlled homes like Home Automat, luxury and technology seem to marry and create an inseparable union. What was earlier restricted to high end laptops and computer systems demand has now invaded the mobile space, the home entertainment space besides the affluent kitchens. Super expensive mobiles from Iphone X to Hanmac are finding a demand que beyond their imagination in India.
    6. Technology and Retail: Omni-presence now means beyond just available everywhere to also be ‘Phygital’. A merger of the physical and digital retail is quietly invading the global retail. Amazon Go has already launched 8 number of cashier less stores& plans to ramp up to 3000 by 2021. Can India, the tech brain of the world be far behind? In Bangalore, Decathlon launched a similar store by introducing a ‘phygital experience’- an innovative mix of physical retail and digital touch points. From virtual reality to digital payments the intent is to create a fun, unique and immersive user experience designed to engage and add value to for them at every step of the way while choosing their favourite sports gear.On other hand, another concept store called ‘Watasale’ went further to create cashier less store, its first store in Kochi and have plans to expand to other cities including Bengaluru and New Delhi in the near future. Can Indian Luxury ignore this anymore?
    7. Predictive Analysis to Predictive Selling: The Indian fashion industry proudly receives its first futuristic analysis software, ‘Stylumia’. Created by ex Myntra founder Ganesh Subramanium, the software will assist in better buying to be able to improve efficiencies and sell through ratios. Most Luxury brands dependent on the human predictions of the buyer can now resort to technology and manage their budgets better. This coupled with predictive selling, could bring in the much needed correction in stocks over load with luxury brands.
    8. Experiential retail, Virtual Reality and Artificial Intelligence: These three aspects will come to the forefront: Brands like Arvind have introduced Magic Mirrors through its brand Creyate Custom Clothing. Also, Shoppers Stop has launched an innovative augmented reality-based dressing room: ‘The Magic Mirror’. It is an intelligent photo booth that gives customers the option to select and view apparel and accessories on themselves without having to physically ‘try on’ the desired products. Apart from this, ecommerce players such as Lenskart(Eyewear) and Caratlane (Jewellery) are already into Virtual trial of the products by customers.
    9. Rent a Luxury / Reusable Luxury are a reality: What started as a trickle two years back, is now a stream with more ventures offering specialised product categories arriving at the horizon.Websites such as Confidential Couture offer usable Luxury Goods while Ziniosa & Rent A Closet offer fashion on rent.And now, even the affluent women are renting high end jewellery for their wedding. The fashion rental market is becoming the biggest trend. A wedding suit or gown worth Rs. one lakh could be rented for as low as Rs. 2000 to Rs. 2500! It is estimated that the online wedding rental  business is worth Rs. 100 crore and the existing players have claimed a 25 to 50 per cent year-on-year surge in business (Black Book).
    10. Sustainable, Authentic and Responsible Luxury is being sought for: GrassRootby Anita Dongre and Nicobar by Good Earth are few names that are famous for their Sustainable offerings.Slowly but surely, the well exposed Indian consumer seeks value over mere brand name. Value definitions are shifting rapidly in line with global shifts. A brand who pays heed to such demands will perhaps go a long way.
    11. SUVs take over the roads:  Various variants of SUVs have been introduced by automakers of all categories. From Mahindra XUV 500 to Lamborghini Urus, Rolls Royce Cullanin to Porsche Cayenne, almost all Luxury brands have come up with their SUV variant. Sale of SUVs grew seven times faster than that of passenger sedans. While small cars and sedans managed a growth of 3% in the last financial year, the sales of SUV grew 21%. The share of SUVs in overall passenger vehicle sales rose to nearly 30 % in 2017-18, compared to 14% recorded at the end of March 2017-18.According to numbers released by Society of Indian Automobile Manufacturers (Siam), 9.2 lakh SUVs were sold in 2017-18 against 7.6 lakh units in the previous year.
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  • November Singapore retail sales stagnant

    November Singapore retail sales stagnant

    November Singapore retail sales were static, rising just 0.2 per cent year on year after removing motor vehicles from the data. On a month-on-month basis, sales rose 1.4 per cent, again after disregarding motor vehicles. Perhaps the most interesting figure was the share of total retail sales which occurred online, reaching 6.6 per cent. In September, online accounted for 4.9 per cent of sales, in October 5 per cent. The November figure suggests the Singles Day shopping promotions on November 11 had a significant impact in Singapore.

    The worst-performing retail category in November Singapore retail sales was computers and telecommunications equipment, slumping 22.1 per cent year on year, which Statistics Singapore attributes to strong sales of phones in November 2017 due to the launch of new models.

    The optical goods and books categories posted sales declines of 4.6 per cent, while food retailers and supermarkets & hypermarkets fell by 3.7 per cent and 1.4 per cent, respectively.

    Department stores registered an increase of 8.7 per cent in sales, while medical goods & toiletries sales rose by 4.8 per cent.

    Turnover of fast-food outlets, restaurants and other eating places (such as cafes) increased between by 2.5 per cent and 4.5 per cent year on year in November. However, sales of food caterers decreased 2 per cent.

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