Author: Mei Ling Tan

  • Bluebell Group’s BlueSpace: A New Retail Star in Shenzhen’s Premium Market

    Bluebell Group’s BlueSpace: A New Retail Star in Shenzhen’s Premium Market

    Bluebell Group has unveiled BlueSpace, an innovative multi-brand retail platform in Shenzhen, offering a curated selection of beauty products, fragrances, lifestyle items, and collector’s pieces all under one roof. This strategic move is part of the company’s ongoing expansion of its high-end retail offerings in the Chinese market.

    The first BlueSpace store is located at the Galeries Lafayette Shenzhen in UpperHills mall. The store carries a diverse selection of international and Chinese brands such as Malin+Goetz, Noble Panacea, Niance, The Different Company, Rose et Marius, Notes for Later, Chujian, To Wild, Bobo Nuts, and CosMouni.

    Aiming for Broader Growth

    BlueSpace is a significant component of Bluebell Group’s overarching growth strategy. It provides a unique retail format intended to assist brand partners in exploring and expanding their reach in China’s upscale consumer market. According to Philippe Guettat, the group’s president and CEO, this progressive model offers their brand partners an unprecedented, low-risk platform to forge meaningful connections with high-end consumers throughout China.

    Earlier in the year, Bluebell Group named Guettat as their permanent group president and CEO in a broader leadership reshuffle. This was done with the aim of reinforcing alignment across their Asian operations.

    Questions & Answers

    What is BlueSpace?
    BlueSpace is a multi-brand retail concept launched by Bluebell Group in Shenzhen. It offers a wide range of beauty, fragrance, lifestyle products, and collectibles under one roof.

    What is the significance of BlueSpace in Bluebell Group’s strategy?
    The introduction of BlueSpace is a key part of Bluebell Group’s growth strategy. It aims to provide a unique retail format for their brand partners to test and expand their presence in China’s high-end consumer market.

    Who is Philippe Guettat?
    Philippe Guettat is the group president and CEO of Bluebell Group. He was appointed to this permanent position earlier this year as part of a broader leadership reshuffle within the company.

  • US FTC Investigation Threatens Sheins Financial Health Amid Hong Kong IPO Plans

    US FTC Investigation Threatens Sheins Financial Health Amid Hong Kong IPO Plans

    Fast-fashion online retailer, Shein, recently disclosed that its US operations are currently under investigation by the US Federal Trade Commission (FTC). This news comes from documents related to its intended Hong Kong initial public offering (IPO), suggesting that the company might face significant fines as a result of the investigation.

    Shein, a company of Chinese origin, has confirmed that it is cooperating with the FTC investigation. The company stated in its filing, “The outcome of the investigation, whether in settlement or otherwise, may require us to make significant monetary payments that could have a material adverse effect on our financial condition and results of operations.”

    The FTC, whose role is to enforce US laws against unfair and deceptive business practices, confirmed on Tuesday that it is conducting a consumer protection investigation into Shein. However, Shein did not disclose the specific reason for the investigation and has not responded to requests for comments thus far.

    Shift in IPO Plans and Supply Chain Issues

    Previously, Shein intended to list its IPO in New York and London. However, due to supply-chain risk disclosures becoming a significant hurdle, the company shifted its plans to Hong Kong.

    The company has consistently stated that there is no forced labor in its supply chain. Despite this, language in the filing that identified Uyghur forced labor as a potential risk faced objections from China’s regulator.

    Last year, Shein admitted to finding two instances of child labor in its supply chain in both 2023 and 2024. This admission came in a letter to British lawmakers after the government questioned the company’s labor conditions and supply chain practices.

    The company has also faced scrutiny from the US government over the years concerning its business practices. Last year, Shein had to pay $700,000 to settle a lawsuit brought by four California counties over shipping delays. Furthermore, Texas Attorney General Ken Paxton announced in December that he was investigating Shein’s supply chain and manufacturing practices.

    Despite these challenges, Shein was able to secure a nearly $100 billion valuation in a 2022 fundraising round due to excitement about its lean business operating model. However, the company reported a quarterly loss on Sunday, partly attributed to slowed sales after the US removed the de minimis tariff exemption on small packages.

    Questions & Answers

    What is the nature of the investigation into Shein by the FTC?
    The investigation by the FTC into Shein is a consumer protection inquiry, focused on ensuring the company is not engaging in unfair or deceptive business practices.

    Why did Shein change its IPO listing location from New York and London to Hong Kong?
    Shein shifted its IPO listing to Hong Kong due to supply-chain risk disclosures becoming a major obstacle to proposed listings in New York and London.

    What issues has Shein faced concerning its supply chain and labor practices?
    In the past, Shein has faced scrutiny over its labor conditions and supply chain practices. The company admitted to finding two instances of child labor in its supply chain in 2023 and 2024. Additionally, Shein has faced inquiries from the US government regarding its business practices.

  • Surge in Electric Vehicle Sales: Vietnam Outpaces Southeast Asia with 71% Growth

    Surge in Electric Vehicle Sales: Vietnam Outpaces Southeast Asia with 71% Growth

    During the first half of this year, Vietnam emerged as the leader in Southeast Asia for battery electric vehicle (BEV) sales, with 115,986 units sold. This impressive figure marked a 71% increase compared to the previous year. Furthermore, BEVs accounted for 35.3% of all new vehicles sold, thereby claiming the highest share in the region’s four largest automotive markets – Vietnam, Indonesia, Malaysia, and Thailand.

    Leading BEV Players

    VinFast, Vietnam’s top automotive brand across all vehicle categories, was responsible for the vast majority of the BEVs sold during this period. A small number of sales were attributed to Ford’s Mustang, while some electric vehicle manufacturers did not disclose their specific sales figures.

    BEVs, vehicles powered solely by electricity, stand out from hybrids, which utilize both electricity and gasoline. In Vietnam, BEVs are bolstered by an exemption from registration fees and a favorable 3% special consumption tax, both in effect until the end of 2030.

    Regional BEV Market Overview

    Thailand followed closely behind Vietnam in BEV sales, with a total of 104,418 vehicles sold. Nonetheless, it exhibited the quickest growth rate among the region’s four largest markets, posting a 91% increase.

    In Indonesia, which continues to hold the title of Southeast Asia’s biggest auto market, BEVs made up 16% of new vehicle sales in the first half of the year. Chinese auto manufacturers BYD, Aion, and MG collectively boasted the largest share of Indonesia’s BEV market. According to local auto news outlet DetikOto, the top ten best-selling BEV models in the country all originated from Chinese automakers such as BYD, Jaecoo, and Geely.

    Meanwhile, VinFast sold 1,934 vehicles in Indonesia, with their mini SUV VF 3 model accounting for 1,355 of these sales.

    Despite reporting the lowest BEV sales among the four major markets, Malaysia achieved an 85% growth rate, the second-fastest in the region following Thailand.

    Questions & Answers

    Which country led Southeast Asia in BEV sales in the first half of the year?
    Vietnam led Southeast Asia in battery electric vehicle (BEV) sales during the first half of this year.

    What contributed to the substantial growth of BEVs in Vietnam?
    The growth of BEVs in Vietnam can be attributed to the country’s policy incentives, including an exemption from registration fees and a 3% special consumption tax.

    Which country showed the fastest growth rate in BEV sales among the four largest markets in Southeast Asia?
    Thailand posted the fastest growth rate among the region’s four largest automotive markets.

  • Kering Bounces Back with Revenue Growth in Q2 Amidst Operational Changes

    Kering Bounces Back with Revenue Growth in Q2 Amidst Operational Changes

    The luxury group Kering has reported an upturn in its performance for Q2, indicating a return to revenue growth. CEO Luca de Meo has attributed this encouraging development to the early signs of progress across Kering’s portfolio, following recent operational and commercial modifications.

    Kering’s revenue for the second quarter reached $4.16 billion, a 1% year-on-year increase, bolstered by an improved retail performance. Comparable sales from directly operated stores witnessed a 2% surge, while wholesale and other avenues of revenue saw a 3% increase. De Meo expressed his satisfaction with Kering’s improved Q2 performance, pointing out the sequential acceleration of growth within the organization, including its Gucci brand, thanks to concerted actions carried out in recent months.

    However, for the first half of the year, revenue stood at $8.22 billion, marking a 3% dip compared to the previous year. On a more positive note, recurring operating income hit the $1.04 billion mark, and the recurring operating margin saw an improvement, reaching 12.8%.

    Kering attributes these results to its ongoing efforts to optimize its store operations. Following the closure of 75 net stores in 2025, the company closed an additional 84 net stores in the first half of 2026, in line with its objective of shuttering 100 stores this year.

    Despite this positive trajectory, Kering noted the persistent geopolitical instability as a factor impacting trade in the Middle East, causing a slight reduction in the group’s second-quarter revenue growth by around one percentage point.

    Sharing the company’s future plans, de Meo revealed that Kering would remain committed to execution, technology investments, and brand development. He emphasized the positive effects of the decisive steps taken by the company to enhance the uniqueness of its brands, streamline its organization, and boost effectiveness throughout the group.

    Questions & Answers

    What was Kering’s revenue for Q2?
    Kering reported a Q2 revenue of $4.16 billion, marking a 1% year-on-year increase.

    What steps is Kering taking to improve its performance?
    Kering is focusing on enhancing the distinctiveness of its brands, streamlining its organization, and boosting effectiveness throughout the group. It has also been closing down stores and investing in technology and brand development.

    What challenges is Kering facing in its operations?
    Geopolitical instability, specifically in the Middle East, has been identified as a significant challenge. This has had a slight impact on Kering’s Q2 revenue growth.

  • DFI Retail Triumphs: H1 Profits Leap by 44% Amid Sales Surge in All Business Sectors

    DFI Retail Triumphs: H1 Profits Leap by 44% Amid Sales Surge in All Business Sectors

    DFI Retail Group has announced a substantial surge in profits for the first half of the year, with all its subsidiaries showing positive sales growth for the period. The company’s underlying profit from ongoing operations leapt by 44 per cent, reaching an impressive US$117 million for the six months ending in June.

    Rising Sales Across Segments

    In terms of like-for-like (LFL) sales, the company saw a 3 per cent improvement. This was driven by the robust performance of the health and beauty sector and a return to growth for the convenience and home furnishings segments. Health and beauty witnessed a 6 per cent increase in LFL sales, with Mannings in Hong Kong contributing a 5 per cent growth. This was fuelled by an expanded basket size and a boost in visitor numbers. Guardian in Southeast Asia posted a strong growth of 9 per cent, with Indonesia and Vietnam experiencing close to a 20 per cent enhancement.

    The company’s convenience segment, responsible for 7-Eleven stores in Hong Kong, Macao, Singapore and South China, saw a 2 per cent rise in LFL sales. The home furnishings division, which operates Ikea stores in Hong Kong, Macau, Taiwan and Indonesia, reported a 4 per cent LFL sales hike, a considerable improvement from last year’s 6 per cent decline. The food division, managing supermarket and grocery chains in East and Southeast Asia, noted a modest 0.5 per cent uplift in LFL sales.

    Affirming the Company’s Strategy

    DFI’s CEO, Scott Price, attributed the first-half results to the effectiveness of the company’s strategy, which is defined by its customer-centricity, focus on returns and principled execution. He stated, “As we continue to deepen customer engagement and build new profit pools through the DFI Omni Platform, we are well-positioned to deliver sustainable long-term value with greater earnings resilience.”

    DFI recently made news with its acquisition of Cody Hong Kong, an outdoor advertising solution provider, to the tune of approximately $3.8 million. This move is in line with DFI’s strategy to create an all-encompassing advertising solution in Hong Kong via DFIQ Media.

    DFI has also made some changes to its leadership team this month, appointing Andrew Wong as the CEO of DFI Ikea, Curtis Liu as CEO of health and beauty, Tom van der Lee as CEO of Food, and Kaizhi Wu as group CFO.

    DFI has revised its full-year outlook, projecting organic revenue growth of 3-4 per cent and an underlying profit of between $285 and $305 million. Despite a higher oil price forecast for the rest of the year, the group anticipates stronger profitability backed by improved operational efficiency.

    Questions & Answers

    What is the expected organic revenue growth for DFI Retail Group?
    DFI anticipates an organic revenue growth of 3-4 per cent.

    Who was recently appointed as the CEO of DFI Ikea?
    Andrew Wong was recently appointed as the CEO of DFI Ikea.

    What led to the strong performance of DFI’s health and beauty sector?
    The strong performance of DFI’s health and beauty sector was driven by an expanded basket size and a boost in visitor numbers in Hong Kong, and significant growth in Southeast Asia.

  • Vietnam’s E-commerce Boom: Soaring Online Sales Triple Traditional Retail Growth Rate

    Vietnam’s E-commerce Boom: Soaring Online Sales Triple Traditional Retail Growth Rate

    During the first half of 2026, online retail sales have seen a significant surge, growing by over 40% year-over-year on key e-commerce platforms. This is triple the growth rate of Vietnam’s overall retail sector.

    Online Marketplaces Experience Rapid Growth

    According to a report from an e-commerce data analytics platform, the four main multi-category online marketplaces – Shopee, TikTok Shop, Lazada, and Tiki – experienced growth in gross merchandise value (GMV) ranging from 38-52%. These platforms collectively hosted 613,900 stores, with a total GMV of VND291.6 trillion (US$11.07 billion). These stores sold more than 2.18 billion products, marking a 41% and 12% increase respectively. On average, consumers spent around VND1.6 trillion a day, purchasing 12 million products, with the majority of spending in the beauty, fashion, home and living, groceries and food, and household appliances categories.

    Many brands have reaped the benefits of this e-commerce boom. For instance, JBL, an audio equipment retailer, reported that its second-quarter sales on Lazada were double those of the previous year.

    The Impact of Livestreaming and Discounts

    The rapid growth of online retail has been partly attributed to the rise of livestreaming shopping, which has become the primary purchasing channel for online shoppers, accounting for 67% of their online expenditure. In addition to this, discounts have greatly influenced consumers’ preference for online shopping over traditional brick-and-mortar stores, with 82% of consumers citing discounts as a key factor in their purchasing decisions. Shoppers are encouraged to make immediate purchases due to livestream-exclusive vouchers and limited-time promotions.

    However, increased fees for merchants on both Shopee and TikTok Shop have led to some sellers raising their prices. The National Competition Commission has requested reports from these platforms on the impact of their increased fees.

    Questions & Answers

    What is contributing to the rapid growth of online retail sales?
    Factors such as the rise of livestream shopping, discounts, and the convenience of express delivery have contributed to the rapid growth of online retail sales.

    How are brands benefiting from the e-commerce boom?
    Brands are gaining high traffic and reaching more consumers through online channels, which also serve as effective platforms for promotional campaigns targeting younger consumers.

    How are increased fees on e-commerce platforms affecting sellers?
    Increased fees on e-commerce platforms like Shopee and TikTok Shop are leading some sellers to raise their prices. The impact of these increased fees is currently under review by the National Competition Commission.

  • DBS Amplifies Banking Experience with AI-Powered Virtual Assistants

    DBS Amplifies Banking Experience with AI-Powered Virtual Assistants

    DBS is advancing in the realm of artificial intelligence (AI), transforming its virtual banking assistants from mere information tools to digital agents with the ability to perform banking tasks on behalf of customers.

    The Singapore-based bank has introduced enhanced generative AI and agentic AI capabilities to over 10 million customers across Singapore, Hong Kong, and Taiwan. This has been achieved through its corporate banking assistant, DBS Joy, and retail banking assistant, DBS digibot. The progression signifies a wider shift in the banking sector, where AI is increasingly anticipated to perform not only as a source of information but also as an efficient and secure executor of routine tasks.

    Corporate Banking Revolutionized

    The most notable enhancement has been observed in the area of corporate banking. DBS Joy has evolved into a fully agentic AI assistant for business and SME clients in Singapore. Instead of merely guiding users to the relevant screens, the assistant is now capable of retrieving transaction information, analyzing account activity, and executing certain banking requests through a single interaction.

    Approximately 350,000 corporate clients are already utilizing the improved assistant. DBS aims to extend this service to an additional 100,000 business users in Hong Kong in September, before further expanding it to other key Asian markets.

    The bank has indicated that the most frequent requests from business clients are inquiries about payments, transactions, and account activity. By enabling customers to ask questions in natural language and receive immediate responses based on authenticated account data, DBS intends to streamline everyday treasury and cash management activities. The improved platform will also offer easier access to human advisors through an integrated live chat feature. Additional voice capabilities are planned for release later this year.

    Expanding AI in Wealth Management

    DBS is also broadening the use of AI in its retail and wealth sectors. The bank’s Gen AI-powered digibot, which already serves over nine million retail customers across Singapore, Hong Kong, and Taiwan, will be incorporated into the bank’s digiWealth platform from August.

    The assistant will assist customers with investment-related inquiries and connect them to dedicated wealth planning managers when personalized advice is needed. Later in the year, DBS plans to introduce agentic functionalities that will allow customers to complete routine tasks – such as checking card usage, tracking reward points, requesting fee waivers, and blocking or replacing payment cards – directly through the conversation. The bank predicts that the virtual assistants will handle over one million customer conversations each month.

    Questions & Answers

    What enhancements has DBS made to its corporate banking assistant, DBS Joy?
    DBS Joy has been transformed into a fully agentic AI assistant capable of retrieving transaction information, analyzing account activity, and completing selected banking requests through a single conversation.

    How is DBS expanding the use of AI in its retail and wealth sectors?
    DBS’s Gen AI-powered digibot will be integrated into the bank’s digiWealth platform, enabling it to assist customers with investment-related questions and connect them with wealth planning managers when personalized advice is required.

    What is the anticipated capacity of DBS’s virtual assistants?
    The bank predicts that its virtual assistants will handle over one million customer conversations each month.

  • UBS Sets Sights on Expansion Following Successful Credit Suisse Integration, Q2 Earnings Surpass Expectations

    UBS Sets Sights on Expansion Following Successful Credit Suisse Integration, Q2 Earnings Surpass Expectations

    UBS has outperformed second-quarter earnings predictions as it approaches the final stages of integrating Credit Suisse. As the bulk of the merger process concludes, the global leader in wealth management is progressively refocusing on expansion.

    In the second quarter, UBS posted a pre-tax profit of $3.6 billion, marking a 64% surge compared to the same period last year. The net profit reached $2.8 billion, surpassing analysts’ predictions. In the first half of 2026, UBS, the Swiss banking powerhouse, made a pre-tax profit of $7.4 billion and a net profit of $5.8 billion.

    These figures bolster the management’s belief that their acquisition of Credit Suisse, a deal completed over three years ago, is starting to yield the predicted financial benefits.

    Integration: A Hard-Won Trophy

    Sergio Ermotti, Group Chief Executive, depicted the integration as a seminal accomplishment in the bank’s recent history. He stated that acquiring Credit Suisse was not a gift, but a trophy that UBS had to earn. Ermotti acknowledged that the journey has not been smooth, but the amalgamated bank is beginning to enjoy the fruits of its extensive restructuring initiative. UBS reassured that it remains on course to surpass its 2026 profitability goals on an exit-rate basis while attaining its cost-efficiency targets.

    The initial steps of the final phase of the Credit Suisse integration were marked by the completion of large-scale client data migration in Switzerland earlier this year. UBS has now achieved $12.6 billion in gross cost savings, amounting to around 90% of its $13.5 billion target set for the end of this year. In the second quarter alone, the bank generated another $1.1 billion in gross savings.

    The technology integration is also nearing its conclusion with over 90% of legacy applications no longer being used and approximately 70% fully decommissioned, significantly reducing operational complexity across the group.

    With most integration milestones achieved, UBS is projected to devote more management attention and capital to organic growth across its global wealth management franchise.

    Wealth Management Continues to Power Growth

    The group’s principal wealth management business maintained its sturdy growth trajectory.

    Global Wealth Management drew in $36 billion in net new assets during the second quarter and $73 billion in the first half of the year. Simultaneously, Asset Management generated an additional $20 billion in net inflows.

    Invested assets hit a new high of $7.3 trillion at the end of June. UBS noticed particularly strong client inflows from Switzerland, EMEA, and Asia-Pacific, emphasizing the strategic significance of these regions to the bank’s future growth aims.

    Capital returns are also set to increase as UBS advances with integration. After concluding its previous share repurchase program in July, the bank announced a new share buyback program of up to $3 billion, set to run until the end of the second quarter in 2027. UBS intends to repurchase at least $1 billion of shares in the next three months.

    With stronger earnings, record client assets, and the near completion of integration, UBS is likely entering a new phase post-Credit Suisse—one that’s increasingly focused on growing its global wealth management franchise rather than integrating the one it acquired.

    Questions & Answers

    What were the second-quarter earnings of UBS?
    UBS reported a pre-tax profit of $3.6 billion in the second quarter, a 64% increase from the previous year. The net profit was $2.8 billion.

    What are the future plans for UBS post-Credit Suisse integration?
    UBS plans to focus more on expanding its global wealth management franchise rather than integrating the one it acquired from Credit Suisse.

    What is UBS’s new share buyback program?
    UBS announced a new share buyback program of up to $3 billion that is scheduled to run until the end of the second quarter of 2027, planning to repurchase at least $1 billion of shares over the next three months.

  • Inventory Accuracy and the Cost of Getting It Wrong

    Inventory Accuracy and the Cost of Getting It Wrong

    In Southeast Asia, retail has become faster, more mobile and more fragmented than ever before. Consumers move between marketplaces, brand sites, social platforms and physical stores with ease. They expect products to be available where and when they choose to buy, even as retailers contend with increasingly complex supply chains, shifting trade conditions and unexpected disruptions.

    For retailers, this means there is less room for error than ever before. Across the region, one of the most common causes of friction in retail experiences is uncertainty around product availability. That could be products that show as in stock but aren’t, orders that go through and then fall over, or delivery dates that change once the purchase is complete. These issues may sit behind the scenes, but customers read them as a measure of trust.

    Inventory accuracy has quietly become a trust issue

    Many retailers still operate with inventory systems that were not designed for today’s level of complexity. Stock is spread across distribution centres, stores, third-party logistics providers and, increasingly, cross-border locations. Sales are driven by flash promotions, livestream events and marketplace campaigns that can create sudden demand spikes.

    When inventory data is delayed, siloed or manually reconciled, retailers are forced to make assumptions. Availability becomes an estimate rather than a fact. Without a single source of truth across the network, systems operate on outdated or incomplete information, and the gap between what is believed to be available and what physically exists grows quickly. Customers feel the impact almost immediately.

    In Southeast Asia, this challenge is amplified by scale and diversity. Retailers may be operating across multiple countries, currencies and fulfilment models at once. A single product might be available in one market but not another, or in a store but not a warehouse. Without a unified view of inventory, decisions are made in isolation, increasing the risk of errors. Over time, this erodes confidence in the retailer.

    Consumers notice when orders are cancelled after purchase. They remember when delivery dates change unexpectedly. These experiences shape where and how they choose to shop. Trust, once lost, is difficult to regain.

    The power of accurate inventory visibility

    Accurate inventory visibility changes this dynamic, but only when it is supported by systems designed to operate at retail scale. That means visibility that spans stores, distribution centres, third-party partners and cross-border locations, and updates in real time as conditions change.

    When retailers have real-time visibility across their inventory network, they can make better promises and keep them. Orders are accepted based on what is genuinely available. Fulfilment decisions reflect actual capacity across locations. Delivery commitments are set according to what can be executed, not what is hoped for.

    This becomes increasingly important as retailers expand fulfilment options. Services such as ship-from-store, click and collect and same-day delivery rely on inventory accuracy at a granular level. A single discrepancy can disrupt an entire order flow, affecting staff, customers and margins.

    Inventory accuracy also plays a direct role in managing cost. Poor visibility leads to over-stocking in some locations and shortages in others. It increases reliance on manual intervention, split shipments and expedited transport. Each workaround adds cost and complexity.

    By contrast, retailers with accurate, unified inventory data can position stock more effectively, reduce unnecessary movement and make better use of existing assets. As margins tighten, this discipline becomes increasingly important.

    From visibility to confidence

    Inventory accuracy is not a technology problem to be solved, but an operating discipline that must be supported by systems reflecting real conditions across the retail network. In Southeast Asia’s retail environment, where demand can shift quickly and conditions vary by market, this discipline becomes a competitive advantage.

    As retail continues to evolve across the region, the retailers that stand out will not be those with the most channels or the widest reach, but those that are dependable. Those that show customers what is available, deliver what they promise and avoid unnecessary friction.

    Inventory accuracy may not be visible to shoppers, but its impact is felt in every interaction. In a region built on speed and choice, trust is increasingly defined by how accurately retailers understand their inventory and how confidently they act on it.

    Written by Raghav Sibal, Vice President APAC, Manhattan Associates

    For more information please visit: https://www.manh.com/en-sg

  • Bloom Nutrition Ignites Australia’s Health Scene with Zero-Sugar Sparkling Energy Drinks at 7-Eleven

    Bloom Nutrition Ignites Australia’s Health Scene with Zero-Sugar Sparkling Energy Drinks at 7-Eleven

    Bloom Nutrition, a health and wellness brand originating from the United States, has recently made its debut in Australia with the introduction of its Sparkling Energy Drinks.

    Nourishing Energy Beverages

    Bloom Nutrition’s unique beverage blend boasts zero sugar and a minimal 10 calories per can. It’s power-packed with 113mg of naturally-sourced caffeine from green coffee beans. The brand champions a ‘better-for-you’ range, with its products featuring health-boosting compounds like prebiotics, B-vitamins, apple cider vinegar, and ginseng. Additionally, they are free from artificial colors and aspartame.

    The pioneer selection of the drink is offered in three different flavors: Strawberry Watermelon, Peach Mango, and Raspberry Lemon. Bloom Nutrition plans to extend its flavor range with more options, including Juicy Orange and Crisp Apple, expected to be launched by the end of this year.

    Expanding Market Reach

    By partnering with 7-Eleven, Bloom Nutrition has gained immediate access to Australia’s convenience retail market, a significant move in its international commercial expansion. The Sparkling Energy Drinks, available in 355ml cans, are now being sold nationwide through 7-Eleven stores at a recommended retail price of $7.

    Mari Llewellyn, co-founder of Bloom Nutrition, expresses her excitement about the brand’s expansion to Australia: “We founded Bloom with the aim of helping people feel their best. This makes our introduction to the Australian market a moment of fulfillment. Our Sparkling Energy Drinks are designed to cater to the active, wellness-oriented lifestyles of Australians.”

    Questions & Answers

    What are some key aspects of Bloom Nutrition’s Sparkling Energy Drinks?
    The drinks contain zero sugar and are low-calorie. They are made with natural caffeine, prebiotics, B-vitamins, apple cider vinegar, and ginseng.

    What flavors are currently available in Australia?
    At present, the available flavors are Strawberry Watermelon, Peach Mango, and Raspberry Lemon.

    What are the future plans for Bloom Nutrition in Australia?
    The company plans to launch more flavors, including Juicy Orange and Crisp Apple, later this year.

  • Swedish Fashion Sensation Acne Studios Marks Malaysian Debut with Kuala Lumpur Flagship Store

    Swedish Fashion Sensation Acne Studios Marks Malaysian Debut with Kuala Lumpur Flagship Store

    Acne Studios, a renowned Swedish fashion label, has marked its maiden foray into the Malaysian market with the inauguration of its first outlet at Pavilion Kuala Lumpur. This move serves as the latest progress in the ongoing collaboration between Acne Studios and Bluebell Group. The latter also manages the brand’s operations in Singapore and Taiwan, as the duo continue their collective expansion throughout Asia.

    The store, under the creative guide of Jonny Johansson, Acne Studios’ Creative Director, is a collaboration with Halleroed, a Swedish architecture firm. The outlet stays true to the brand’s unique retail concept, reflecting the design ethos prevalent in its global store network.

    Bluebell Group, the company behind the launch, views this venture as a means to bolster Acne Studios’ regional presence. This is achieved by synergizing the brand’s innovative identity with the group’s local market acumen and retail proficiency. Bluebell Group stated that the joint venture amalgamates profound local expertise, market acuity, and a dedication to crafting extraordinary brand experiences that strike a chord with consumers across the region.

    The debut of Acne Studios in Malaysia follows the fashion brand’s ongoing growth in Southeast Asia. In the previous year, the Stockholm-based label expanded its regional imprint by launching its first outlet in Thailand at Siam Paragon.

    Questions & Answers

    What significant step has Acne Studios recently taken in its Asian expansion?
    Acne Studios has entered the Malaysian market with the launch of its first store at Pavilion Kuala Lumpur.

    Who is responsible for the design of the new Acne Studios outlet?
    The store was designed by Jonny Johansson, Acne Studios’ Creative Director, in collaboration with Swedish architecture studio Halleroed.

    What is the strategic vision behind the partnership between Acne Studios and Bluebell Group?
    The partnership aims to strengthen Acne Studios’ regional footprint by blending the brand’s creative identity with Bluebell Group’s local market expertise and retail capabilities.

  • PapaHome’s Mega Expansion: Unveiling Bigger Flagship Store in Hong Kongs Fashion Walk

    PapaHome’s Mega Expansion: Unveiling Bigger Flagship Store in Hong Kongs Fashion Walk

    PapaHome, powered by Taobao, continues its growth in the Hong Kong market by moving its primary store to a bigger location at Fashion Walk, Causeway Bay. The grand opening is slated for October.

    Expansion and Rebranding

    The upgraded flagship store will occupy over 35,000 square feet, spanning two floors, effectively doubling the size of its previous store in Tsim Sha Tsui. This relocation comes following a successful year since PapaHome launched as Taobao’s inaugural physical furniture superstore in Hong Kong. The company cites robust consumer demand and impressive sales performance at the original store as key drivers behind the decision to upgrade to a larger flagship.

    The newly relocated outlet in Causeway Bay will continue to utilize the successful OMO (Online Merges with Offline) model, while also launching the brand’s ‘More Than Home’ concept. In addition to offering a wide variety of furniture and home furnishings, the store will also house a dedicated showroom focusing on home aesthetics. Complementing this, the store will offer bespoke furniture, interior design, and home renovation services.

    Broadening Product Offerings

    With the aim of catering to more diverse lifestyle needs, the flagship store will introduce new lifestyle products. These will include the first-ever PapaCafe and dedicated areas for beauty and wellness. Additionally, it will house a floristry section and a selection of curated lifestyle accessories.

    Questions & Answers

    What prompted PapaHome to relocate its flagship store?
    Robust customer demand and impressive sales performance at their original store prompted PapaHome to relocate to a larger flagship.

    What is the new concept that PapaHome is introducing?
    PapaHome is introducing the ‘More Than Home’ concept, which includes a broader range of furniture and home furnishings, a home aesthetics showroom, and services like custom furniture, interior design, and home renovation.

    What new lifestyle offerings will be available at the flagship store?
    The flagship store will introduce new lifestyle offerings such as the debut of PapaCafe, dedicated spaces for beauty and wellness, floristry, and a selection of curated lifestyle accessories.

  • Marmite Mania: Singapore Supermarkets Face Unexpected Shortage of Beloved British Spread

    Marmite Mania: Singapore Supermarkets Face Unexpected Shortage of Beloved British Spread

    Marmite, the unique British food spread revered for its savory umami flavor, has reportedly disappeared from the shelves of Singapore’s major supermarket chains and retail outlets. This comes as a surprise to the local populace who have grown to love the uniquely flavored condiment.

    Empty Shelves in Local Stores

    The top supermarket chains in Singapore, notably FairPrice, Sheng Siong, Cold Storage, and Giant, have all reported the absence of Marmite from their inventories. An employee at FairPrice confirmed that Marmite had been out of stock for several months. Similarly, a staff member at Sheng Siong revealed that they had not received any new Marmite shipments recently. Even online searches for Marmite on these supermarkets’ websites yield no results.

    While Marmite is still available from a handful of online sellers, the prices are considerably higher than before. For instance, last week, Shopee had only a few sellers offering 8g sachets for S$4.50 (US$3.48) each. This is a stark contrast to the previous price of a 200g jar, which was sold for S$7.08 at FairPrice.

    Marmite, a dark, sticky spread made from yeast extract, is renowned for its intensely savory, salty, and umami flavor profile. Traditionally spread on toast in the UK, it has also found its way into Singaporean cuisine, featuring in popular dishes such as Marmite chicken and Marmite pork ribs.

    Under New Management

    Unilever, the consumer goods behemoth that produces Marmite, announced in late March that it had agreed to merge its food business, including Marmite, with U.S.-based McCormick. The merged entity will operate under the McCormick name and will be managed by a combination of executives from both companies. The deal is anticipated to close by mid-2027, with Unilever and its shareholders retaining 65% control in the combined company.

    Earlier this month, a notice circulated on social media suggesting that Unilever Asia, the regional distributor responsible for Marmite supplies in Singapore, had removed the product from its portfolio as of April 1.

    Questions & Answers

    Why has Marmite disappeared from Singapore’s supermarket shelves?
    According to local reports, Marmite has been out of stock for several months. The exact reason remains unknown.

    Is Marmite still available in Singapore?
    While Marmite is no longer available in major supermarkets, it can still be purchased from a few online sellers although at higher prices.

    What changes are expected after the merger of Unilever’s food business with McCormick?
    The combined entity will operate under the McCormick name and will be managed by a blend of executives from both companies, with Unilever and its shareholders retaining 65% control. The deal is expected to close by mid-2027.

  • Q2 2026 Sees 17.2 Million Passengers at Changi Airport Despite Slight Decline in Passenger Traffic

    Q2 2026 Sees 17.2 Million Passengers at Changi Airport Despite Slight Decline in Passenger Traffic

    In the second quarter of 2026, Singapore’s Changi Airport recorded 17.2 million passenger movements, representing a slight 1.5% decline compared to the same period in the previous year. Despite this, the airport saw a 0.4% increase in passenger traffic in the first half of the year.

    Quarterly Performance Indicators

    Within the quarter, there were 92,400 aircraft movements, including both landings and takeoffs, which marks a 1.3% decrease from the same period last year. The total aircraft movements for the first half of the year equaled 188,000, on par with the numbers from the previous year.

    Traffic to and from Europe and the Southwest Pacific went up by 8.7% and 3.0% respectively due to airlines increasing their capacity on these routes to streamline their operations. However, the challenging business environment, characterized by high jet fuel costs and fuel supply constraints, led to reduced services, particularly on Southeast Asian routes, which saw a 5.0% decrease in traffic.

    The top five passenger markets for Changi Airport in this quarter were China, Indonesia, Australia, Malaysia, and India. Despite the overall decline, Vietnam and China experienced robust growth, with year-on-year increases of 18.5% and 8.3% respectively. Japan also saw a steady growth of 7.0%.

    In the second quarter, Changi Airport handled 567,000 tonnes of airfreight throughput, a 9.8% increase from the same period in the previous year. This strong performance was driven by growth in all cargo flows, particularly in AI-related semiconductor and electronics shipments. The top five air cargo markets were China, the United States, Australia, Hong Kong, and India.

    Looking Forward

    Mr. Lim Ching Kiat, Executive Vice President for Air Hub and Cargo Development at Changi Airport Group, noted that although airlines continue to adjust their services due to changing operating conditions, the sustained demand for travel is encouraging, particularly to and from Europe and Northeast Asia.

    Changi Airport expanded its connectivity in the second quarter, with the introduction of new passenger and cargo services. China Eastern started services to Dalian in April, while Scoot added services to Belitung and Pontianak in Indonesia in May and June respectively. The airport also welcomed two new passenger airlines, Shanghai Airlines and Oman Air.

    On the cargo front, Tianjin Air Cargo began operations between Singapore and Haikou in June, becoming Changi Airport’s newest cargo operator.

    Questions & Answers

    What was the total number of passenger movements recorded at Changi Airport in the second quarter of 2026?
    Changi Airport recorded 17.2 million passenger movements in the second quarter of 2026.

    How did aircraft movements in the first half of 2026 compare to the same period in the previous year?
    The total number of aircraft movements in the first half of 2026 was 188,000, similar to the same period in the previous year.

    Which were the top five passenger markets for Changi Airport in the second quarter of 2026?
    The top five passenger markets were China, Indonesia, Australia, Malaysia, and India.

  • Vontobel Skyrockets to Record-Breaking Profits with an 87% Earnings Leap in H1 2026

    Vontobel Skyrockets to Record-Breaking Profits with an 87% Earnings Leap in H1 2026

    Vontobel, a Zurich-based investment manager, has reported a record profit of CHF 216 million for the first six months of 2026. This is an impressive 87 percent increase compared to the same period the previous year.

    Vontobel’s Financial Performance

    The company’s operating income jumped by 24 percent, reaching CHF 852 million. Meanwhile, operating expenses amounted to CHF 579 million. This combination resulted in a significant improvement in efficiency, indicated by the drop in Vontobel’s cost-income ratio from 77.9 percent to 67.9 percent. This is lower than the company’s ongoing target of 72 percent. Additionally, the return on equity increased to 16.9 percent, a notable rise compared to 10.2 percent in the first half of 2025.

    Company co-CEOs, Christel Rendu de Lint and Georg Schubiger, acknowledged the excellent results. They attributed the significant profit increase to higher revenues driven by robust client activity, coupled with a reduction in costs.

    Assets under management grew by 5 percent, totaling CHF 252.2 billion at the end of June. Net new money rose to CHF 2.5 billion, an improvement from the CHF 2 billion reported during the year-earlier period. Vontobel also mentioned two key factors affecting these inflows: CHF 1.3 billion in outflows linked to the return of Raiffeisen’s Futura fund management mandate, and CHF 2.5 billion in outflows from Vontobel’s Quality Growth strategies. However, excluding these factors, net new money would have amounted to CHF 6.3 billion.

    Expansion and Corporate Developments

    Vontobel’s private clients business expanded across all regions, generating CHF 2.5 billion in net new money. This corresponds to an annualized growth rate of 4.1 percent. With regards to institutional clients, assets under management increased to CHF 112.5 billion. If adjusted for outflows related to Raiffeisen and Quality Growth, net new money would have reached CHF 3.8 billion. This is equivalent to an annualized growth rate of 7.4 percent.

    Vontobel’s CHF 100 million efficiency program significantly contributed to the company’s improved profitability. The program is progressing faster than initially planned and is expected to be completed by the end of 2026. Also, Vontobel has continued to invest in growth initiatives, technology, and client-facing capabilities, integrating Quantitative Investments into its broader investment organization.

    Changes to the senior management team were also announced. Antoine Boublil will join the Executive Committee of Vontobel Holding as the Chief Financial Officer in August 2026. Meanwhile, others joining the Executive Committee, pending regulatory approval, include Gianpiero Galasso, Andrew Jackson, and Christoph von Reiche.

    Vontobel enters the second half of the year with a stronger operating performance and an improved capital base, with its CET1 ratio rising to 23.2 percent, comfortably surpassing regulatory requirements and the firm’s own continuing targets.

    Questions & Answers

    What was Vontobel’s reported profit for the first half of 2026?
    Vontobel reported a record profit of CHF 216 million for the first half of 2026.

    How much was Vontobel’s net new money for the same period?
    Vontobel’s net new money for the first half of 2026 amounted to CHF 2.5 billion.

    What changes were made to Vontobel’s senior management team?
    Antoine Boublil was appointed as Chief Financial Officer and is set to join the Executive Committee of Vontobel Holding in August 2026. Gianpiero Galasso, Andrew Jackson, and Christoph von Reiche will also join the Executive Committee, subject to regulatory approval.