Retail News CRM

Author: Mei Ling Tan

  • Hyundai’s Palisade performs great in snow

    Hyundai’s Palisade performs great in snow

    On Tuesday, Hyundai Motor said that its Palisade SUV will come with a new feature dubbed Snow Mode that is designed to help the vehicle navigate snowy terrain by redistributing power to its wheels. The Palisade, Hyundai Motor’s new large SUV, is slated to launch later this month.

    The new vehicle will be the first SUV in Korea to come with Snow Mode or an equivalent function, according to Hyundai Motor.

    The system helps redistribute driving power to the wheels so that a car stuck on a snowy road can regain traction.

    A video posted on a Hyundai Motor blog on Tuesday shows the Palisade crossing uneven snowy terrain. At one point, the car’s left rear wheel is left spinning in the air, but the Snow Mode quickly recognizes the lack of traction and transfers the driving power to the other wheels. Later in the video, power is shifted to the right rear wheel to give the vehicle a boost, enabling it to get back onto the road.

    The carmaker said the SUV model has been tested on 6,000 kilometers on snowy terrain in Arjeplog, Sweden over the past two years.

    The large Palisade SUV will launch on Nov. 28 at the LA Auto Show.

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  • Philippine’s La Lola to open in Singapore

    Philippine’s La Lola to open in Singapore

    La Lola Churreria will soon open its first store in Singapore at Clarke Quay Central. The Brazilian-inspired food-retailing concept is being brought to the city by MFT Group of the Philippines, in partnership with Bistronomia which opened the first La Lola store in the upmarket Manila Power Plant Mall at Rockwell.

    The Clarke Quay site was chosen for its close proximity to the MRT and bus stations.

    MFT Group chief marketing officer Chiqui Tan said the company chose Singapore because of locals’ dessert-driven palette and openness to new concepts.

    A former employee of the Philippines’ SM group, Tan says she has been watching La Lola with interest for several years.
    “We’ve been fans of the brand ever since they started. We thought it was genius that something so simple can be done so well. I saw the speed and the scale they grew the brand,” she said in an interview.

    “La Lola churros are so global in flavour that [the concept] can be taken anywhere and will have a strong chance of succeeding,” she said.

    The two companies are planning multiple outlets across Singapore and MFT Group is also actively looking for more food concepts to launch.

    The MFT Group, a private equity investor, has already successfully taken Singaporean chain Salad Stop to Spain. And it plans to open branches of that brand in Vietnam soon.

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  • Ikea to open world’s largest store in the Philippines

    Ikea to open world’s largest store in the Philippines

    Ikea Philippines says its first store will take up an enormous 65,000sqm space, making it the world’s largest. The current largest Ikea store globally opened in Seoul in December 2014 and takes up 59,000sqm. Local franchisor Inter Ikea Systems, which operates the homewares and furniture retailer in Malaysia, Singapore and Thailand, chose to partner with SM Malls for its Philippine launch. The store will become an anchor of the giant Pasay mall, and its largest tenant when it opens in 2020.

    The size of the store reflects the huge consumer catchment: more than 5 million households within 60 minutes drive.

    Inter Ikea says the store will stock 9000 products and host a warehouse to fulfil online orders and an integrated call centre. A Philippine-specific website will launch prior to the store opening to help build brand awareness and offer design inspiration.

    “The Ikea vision is to create a better everyday life for the many people, so we are excited to be bringing our offer to a country where millions of people share our passion for home,” said Ikea Southeast Asia MD Christian Rojkjaer.

  • India’s Myntra launches Italian handbag brand Carpisa exclusively on its platform

    India’s Myntra launches Italian handbag brand Carpisa exclusively on its platform

    Myntra has announced the launch of Carpisa, the Italian brand known for its fine collection of handbags, suitcases, wallets and accessories, exclusively on its platform. The brand is being introduced to shoppers in India for the first time exclusively on Myntra, through a range of handbags, crafted for the modern and fashion-conscious women.

    Founded in 2001, Carpisa became one of the leading retailers in the bag, luggage and fashion accessory sector and holds celebrity actor Penelope Cruz as the brand ambassador. The brand is known for its designs, quality of products and above all, represents Italian culture and lifestyle.

    Catering to the affordable luxury segment, products from Carpisa are available at an average price of Rs 3,600, targeting women in the age group of 25-40 years from Sec A and Sec A+ categories in metros and Tier 1 cities.

    The handbags segment that Carpisa caters to in India is growing at a CAGR of over 15 percent, with an annual market potential of US$ 10 billion when combined with luggage and accessories.

    Speaking on the launch, Manohar Kamath, CXO and Head, Myntra Fashion Brands and Category Business, said, “We are delighted to announce the launch of Carpisa exclusively on Myntra. Shoppers in India are increasingly becoming brand and quality conscious and are exploring international brands and designs, clearly looking up to global styles and trends. As a leader in fashion ecommerce, we are focused on making the best of international brands accessible to our customers and Carpisa is the latest entrant, targeted at the fashion conscious women in India.”

    Francesco Pinto, Pianoforte Group International Expansion Director added, “We are extremely delighted to set foot in India in partnership with Myntra. India offers a huge growth opportunity for Carpisa, considering the size of the burgeoning fashion and lifestyle market. We are proud of this association with Myntra that builds a strong launchpad for Carpisa, while also giving the much needed initial thrust to take off.”

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  • Bob’s Select Space combines bar and retail store together

    Bob’s Select Space combines bar and retail store together

    Architectural studio Designreserve has created a new store in Beijing’s Sanlitun integrating a bar into the retail experience, according to a report. Bob’s Select Space is the flagship store for liquor retailer Bob’s Wine, aimed at creating a community space in a busy shopping area. The design explores the traditions of communication in liquor culture and merchandise.

    Designreserve co-founder Feng Yue said: “We wanted to create a strong visual identity. So we invited a graphic artist to design special fonts for each major alcohol type displayed on the facade. For us it is a kind of public art

    “Previous shops of Bob’s Wine are popular for their wide range of bottle selection as well as for their relaxing atmospheres, but the spaces were geared towards retail rather than bar.”

    The 60sqm space is divided into three rooms that transition visitors from the public domain to a more intimate “hideout”.

    “Experience is the key determining factor for the success of retail spaces,” said Yue. “Therefore, our job as designers is to create spaces where people feel inspired and hopeful that city life can still be fun.”

    View the gallery below (4 images) :

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  • Exclusives for I.T’s 30th anniversary

    Exclusives for I.T’s 30th anniversary

    I.T has been in fashion retail in Hong Kong and China for over 30 years, offering a wide designer portfolio.It is renowned for curating collections across international womenswear, menswear, footwear, accessories, and lifestyle that is tailored meticulously for the Greater China customer.

    At the turn of the century, I.T opened its first China flagship in Shanghai, one of China’s fastest growing markets.

    In 2017, the company launched its multi-brand fashion lifestyle platform ITeSHOP.

    “I.T now sets sight on creating a seamless omni-channel experience that will define the future of fashion” said Kar-Wai Sham, Founder and Chief Executive Officer of I.T Group.

    To envisage the digital landscape that will shape the next 30 years, I.T took the opportunity to invite its community of brands partners and creative talents to share their vision of the future.

    Their perspectives are expressed through a series of exclusive designs, capsule collections, artistic compilations and digital exhibitions that bids the viewer to visualise the future.

    I.T’s 30 th Anniversary Exhibition integrates a see-now-buy-now approach, with live digital kiosks and a shoppable app for exhibition-goers to fully immerse in an authentic digital shopping experience.

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  • Naver Labs, Qualcomm to team up on future tech

    Naver Labs, Qualcomm to team up on future tech

    Naver Labs and Qualcomm will work together on future technology like robotics and self-driving vehicles, the local IT company said on Tuesday. The two companies signed an agreement on Monday to combine their knowledge and expertise.

    U.S.-based Qualcomm is a well-known manufacturer of semiconductors and telecommunications solutions. Naver Labs is an affiliate of Korea’s largest portal site and is currently working on a wide array of location-based technology solutions like autonomous driving, mapping and navigation using augmented reality.

    Naver Labs said it hopes to apply Qualcomm’s latest chips and solutions to its high-tech products. The first products developed by the two companies will be unveiled at next year’s Consumer Electronics Show in Las Vegas in January.

    “We plan to offer full technology support for the successful development of Naver Labs’ products and services,” said Jim Cathey, Qualcomm’s president for the Asia Pacific and India regions.

  • 6ixty8ight Singapore expands by opening stores

    6ixty8ight Singapore expands by opening stores

    Hong Kong lingerie brand 6ixty8ight is trebling its Singapore store network. 6ixty8ight Singapore will open new stores at Tampines 1 on December 1 and at Bugis Junction this week. They follow the brand’s debut at VivoCity in July.

    The Bugis Junction 6ixty8ight Singapore store will take up340sqm of space, a little larger than the 270sqm site at Tampines 1 – but both are considerably larger than the first store, which is just 185sqm.

    6ixty8ight was founded in 2005 by Hop Lun Group which has manufactured lingerie for many international brands for more than 25 years. Its strategy was to use its manufacturing expertise to create underwear for Chinese women. Such a course did not cannibalise sales from its manufacturing customers, which primary target western markets. It was the first time the manufacturer had developed its own label.

    The brand, which targets women aged 15 to 30, has found a ready market in Hong Kong, Taiwan and South Korea where its value offer and fun store decor has differentiated it from rivals. It now has more than 150 stores in the region.

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  • Tse Sui Luen Jewellery sales rise boosted by tourist

    Tse Sui Luen Jewellery sales rise boosted by tourist

    Tse Sui Luen Jewellery sales and profit both rose in the first half year – but the company has tempered the good news by expressing concerns about the impact of the US-Sino trade war. Chairwoman Annie Yau said in a stock exchange filing that the improved retail sentiment in Hong Kong since September last year due to increased numbers of mainland tourists and growing consumption appetite of local customers, the city’s retail market has continued to progress “in an L-shape”.

    “However, the recent outbreak and escalation of trade dispute between China and the US has cast some doubts on the economic outlook for both the global and local economies going forward. One consequence has been the devaluation of Renminbi during the period, which could bring certain influence to our business in Hong Kong and Mainland China during the remainder of this financial year.

    “While it is still too early to conclude the actual impact on the group’s performance, we will continue to take a cautiously optimistic approach in our major operating regions, namely Hong Kong and Mainland China,” said Lau.

    Tse Sui Luen Jewellery sales increased by 10.2 per cent to HK$1.91 billion in the six months to July (the company has changed its financial year to September, so comparative figures are based on the six months to August 31 last year).

    Profit attributable to owners of the company increased by 38.9 per cent to $24.3 million.

    Sales in Hong Kong and Macau rose by 15.3 per cent during the half year, while same-store sales growth for all businesses in the territories rose 14.8 per cent. Retail rentals in Hong Kong remained static and “at a more reasonable level than that experienced in past years”, allowing the company expand its retail business in the city and enlarge the shop area of some of its existing stores, including those in Times Square in Causeway Bay and Plaza Hollywood in Diamond Hill.

    “We will continue to identify other suitable high-traffic shopping arcades and on-street stores in order to further penetrate tourist and residential precincts as applicable,” said Lau. “Nevertheless, the ongoing manpower shortage situation in Hong Kong remains a concern in setting the pace of expansion. In respect to Macau, due to a steady increase in tourists from Mainland China and their spending powers, our business in Macau achieved an increase of 8.7 per cent in turnover during the period.”

    In Mainland China, where its self-owned stores account for 37.3 per cent of Tse Sui Luen Jewellery sales, sales rose 4.2 per cent, but fell 3.5 per cent on a same-store basis. The company is expanding its network of franchised stores, adding 25 during the period taking the number to 207. After adding 197 self-run stores, Tse Sui Luen now has 404 outlets on the mainland.

    In Malaysia, Tse Sui Luen has five stores, including the latest to open in Genting. Sales rose 13.9 per cent.

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  • 65% jump for Lotte Duty Free’s overseas sales

    65% jump for Lotte Duty Free’s overseas sales

    South Korean retail giant Lotte’s duty-free operator Lotte Duty Free posted a rapid hike in overseas sales in its quarterly performance report. According to the company, sales for the third quarter this year hit a record-high 4.1 trillion won (US$3.6 billion), a 25 percent on-year increase.

    The sales from its downtown city stores and its overseas stores amounted to 3.8 trillion won and 164 billion won, respectively.

    Lotte Duty Free currently operates seven overseas stores in countries including Japan, Vietnam and Thailand. Sales at its overseas stores increased 65 percent from a year ago, and the outlet in Vietnam recorded an 800 percent jump in sales.

    The company said it expects 200 billion won worth of overseas sales by year-end.

    It will also soon open its first duty-free store in Australia.

    According to the company, its operating profit in the third quarter totaled 228 billion won, representing an on-year jump of 550 percent.

    The company said the number proves that the retailer is recovering from China’s apparent retaliation over the deployment of the Terminal High Altitude Area Defense system here.

    After withdrawing stores from Terminal 1 at Incheon International Airport in February due to a sharp drop in sales, Lotte Duty Free is focusing on aggressive marketing for its online mall and its downtown outlets.

    Compared with last year, its sales online and at its downtown stores rose 42 percent and 50 percent, respectively, the company said.

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  • Woodland to add 60 stores, strengthen franchise model in India

    Woodland to add 60 stores, strengthen franchise model in India

    With changing lifestyles and increasing affluence, domestic demand for footwear is projected to grow at a faster rate than has been seen in India. Currently, India is the second largest footwear producer in the world, with footwear production accounting for approximately 9.6 per cent (till April 2018) of the global annual production – 22 billion pairs as compared to China, which produces over 60 per cent of the global production.

    The footwear market in India is now dominated by men’s footwear which contributes close to 58 percent of the total Indian footwear retail market and is expected grow at a CAGR of 10 percent by 2020. The women’s footwear segment, however, is projected to grow at a much faster CAGR of 20 percent.

    While the industry is currently dominated by unorganized domestic SME footwear manufacturers, changing consumer behavior and modern lifestyles have led to more organised brands coming into the fray, lured by the potential of bigger sales, but mostly in a bid to give the consumer branded, better quality products, value for money.

    A significant shift was observed post liberalisation when lifestyles expanded to foster great value for the sports/active segment and for casualization as a whole. The technological prowess of global sportswear giants enabled them to functionally and fashionably appeal to a young India. Tapping the unlocked potential in India, Woodland entered India in 1992 when the Indian footwear market was largely unorganized and soon became a recognizable name in the adventure and outdoor segment in India.

    The Right Fit

    The brand boasts of a huge product portfolio aside from footwear, including apparel and accessories.

    “In order to survive in today’s ever-changing and highly competitive market like India, diversifying our product portfolio is inevitable. Keeping a close eye on latest trends and new rising demands, we upgrade our portfolio accordingly,” Harkirat Singh, MD Woodland.

    The demand for the products is different in India and other countries because of the various factors namely demographic conditions, climatic conditions, styling culture.

    “We created a product line specifically for India and since then we have never looked back. Our product positioning was altogether unusual, and we were known as a one definite choice for adventurists, taking the market for rugged and outdoor leather shoes by storm. The phenomenal success in the shoe segment encouraged and motivated us to enter in new segments like clothes, handbags as well,” explains Singh.

    Over a period of time, the brand has expanded its product category and now has an extensive product range including handbags, wallets, travel bags, casual shoes, formal shoes, track pants, eyewear, gloves and outdoor equipment like tents, sleeping bags, umbrellas, trekking poles, waterproof outdoor backpacks.

    The prices of products have been set with a realistic approach since Woodland prides itself on being a customer-friendly brand.

    “The pricing strategy is to keep the prices in sync with the purchasing power of our target customers, which are majorly the youth segment – aged between 17-25 years, college studenst and professionals – who are interested in adventure sports and are on the lookout for stylish, yet value for money products. The price range of our jackets varies from Rs. 5,000 to 35,000 whereas the price range of our footwear starts from 3,000,” says Singh.

    Letting Technology Lead the Way

    With online channels taking over the retail industry, e-commerce has gradually become an inevitable part of the company’s sales and revenue. The company’s portal and other e-commerce sites collectively contribute to the e-commerce sales revenue, thereby adding to volumes. There is also an exclusive range of merchandise for e-commerce sites.

    The availability of Woodland products on all the prominent e-commerce websites enhances the brand visibility among the larger group of audience and helps widen the scope of sales.

    The brand is also a strong believer in Omnichannel retail, investing in online sales which are expected to grow to 40 percent in the next three to four years. It plans to concentrate more on a seamless approach through all available shopping channels, i.e. mobile internet devices, computers, bricks-and-mortar, television, radio, direct mail, catalogue, in-store experience and so on.

    Aside from this, Woodland has a history of exploring innovative technology embedded in products and integrating it with all aspects of the brand.

    “We have already launched GPS embedded jackets, BOA shoes, client T-shirts, and many more new technologies and innovations in products are in pipeline,” says Singh.

    Retail Mapping & Expansion Plans

    Globally, Woodland is present in more than 40 countries. In India, Woodland has a chain of over 600 company-owned stores and is present in over 5,000 multi-brand outlets and is planning on adding another 60 stores in this financial year in an equivalent combination of small towns and metros.

    It is also working towards strengthening its franchise model in India, to grow its presence in smaller cities and towns.

    “We are currently working on entering into more foreign countries in the near future to add to our international kitty. Woodland as a brand is already present in China, Aokang and Hon Kong. Apart from this, we are working on strengthening our presence in South-East Asia, West Asia, Europe and USA,” states Singh.

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  • Apple store to sell wearable skincare product

    Apple store to sell wearable skincare product

    Apple is now selling L’Oreal’s newest tool called the My Skin Track UV, made by the La Roche-Posay brand. The company first unveiled this product at the 2018 Consumer Electronics Show in January 2018 and it is now ready for consumers.

    This is the first time that Apple is venturing into the world of beauty and skincare in its store.

    My Skin Track UV is a small wearable device to attach on the customer’s clothes to measures their individual exposure to UVA and UVB rays; a companion app tracks their exposure to pollution, pollen, and humidity.

    The device is cleverly designed to be battery free–its sensor is activated by the sun, and is then powered by the user’s smartphone using near field communication.

    The product was designed in collaboration with Yves Behar, and relied on research gathered by Northwestern University’s John Rogers, who has developed a range of stretchable electronic devices.

    It is designed to motivate wearers to engage in safer outdoor behavior.

    While most people are aware about the sun’s impact on the skin, this knowledge often doesn’t actually prompt them to change their behavior.

    L’Oreal’s research found that when consumers had regular, accurate updates about their sun exposure, 34% applied sunscreen more often, and 37% sought shade more frequently

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  • Appliance rentals prove popular

    Appliance rentals prove popular

    Home appliance companies are building their rental service businesses as the trend is for consumers to value experience more than ownership. With the growing size of the local home appliance rental market, some companies have started management services to take care of rental customers, while others have set up entire rental business subsidiaries.

    On Nov. 17, LG Electronics announced the formation of “Care Solution,” which will manage home appliances for rental customers. While a rental management service existed before, the new offering goes beyond simply providing replacement parts and instead regularly replaces the main components of appliances.

    For rented water purifiers, LG Electronics will exchange filters and water pipes and inspect sensors. For those who rent its Tromm Styler home dry cleaning appliance, the company will replace water container components every two years and periodically provide scented aroma sheets.

    Cuckoo Electronics, known for rice cookers, jumped into the rental market last December when it established its Cuckoo Homesys subsidiary. Last month, the company introduced a new rental brand, “Inspure,” which focuses on water and air purifier products.

    Samsung Electronics has yet to launch a rental business on its own but has partnered with professional rental companies for its home appliance products. It started renting its products through Kyowon Wells last June and also joined hands with Hyundai Rental Care last July.

    Home appliance companies are focusing on the rental business as the market seems to be growing. According to the KT Economics & Management Research Institute, the rental market in Korea is expected to grow past 40 trillion won ($35.49 billion) by 2020 from 25 trillion won in 2016.

    LG Electronics recorded 128.2 billion won in rental-related sales in the first half of this year, more than doubling the 53.8 billion won reported two years ago. Operating profit for Cuckoo Homesys through the third quarter of this year was at 52.8 billion won, a 50 percent increase from the figure over the same period last year.

    With a sluggish job market and slowing economic growth in Korea, consumers are feeling the pinch and valuing experience over ownership. The result is an increase in demand for rental products.

    The rise of premium products, which have been developed by companies to stay competitive in the crowded home appliance market, has also contributed to the rental trend. As such products are expensive, consumers are looking toward rentals.

    For example, a 55-inch LG OLED TV costs 3.6 million won to buy outright, but it can be rented out at 59,900 won per month for 36 months. The price drops further when other discounts are applied, such as those offered by credit cards companies.

    “The need to use good products exists, but with troubling economic times, penny pinching is called for. Consumers are taking an interest in rentals that can meet their needs at a low cost at the moment,” said Jung Yeon-sung, a professor of business at Dankook University.

    The increase in one-person households has also contributed to the rise in rental services as it is difficult for a single person to afford appliances that could cost millions of won. According to government data, there were 5.5 million single-person households in Korea last year, accounting for 28.5 percent of the total number of households. The figure has doubled since 2000, when there were 2.22 million single-person households.

    For companies, the rental business doesn’t bring in big profits immediately, but it provides steady profits.

    “We plan to focus on management instead of just the leasing out products and help customers improve their quality of life,” said Choi Sang-gyu, head of domestic sales at LG Electronics.

  • Women can make or break Vietnam’s F&B industry

    Women can make or break Vietnam’s F&B industry

    With more women spending more on eating out, they have become linchpins of the F&B industry, a study indicates. A new survey by HCMC-based market research firm Decision Lab finds that female consumers can make or break the food and beverage industry of Vietnam.

    Average visits per capita by female consumers to the out of home food and beverage market has increased by 5 percent during last year, from 121 between the fourth quarter of 2016 and the third quarter last year to 128 between the fourth quarter last year and the third quarter this year.

    Women have also increased spending on almost all major food channels in Vietnam, namely full service restaurants (FSR), or sit down eateries where food is served directly to the customers’ table, and quick service restaurants (QSR), where table service is minimal and the typical fare is fast food, street food, convenience stores, canteens and bars.

    As a result, women’s contribution to the out of home market revenue has increased by a whopping 10 percent.

    Among the women themselves, the 15-34 year-old segment accounts for 82 percent of the visits in the out of home market, and more than half of those by white-collar workers. Students are also seen as the driving force of female visits at 25 percent.

    As such, Decision Lab points out that the growing influence of women on the foodservice market is real and the industry would be well advised to use female-friendly messages to increase the traffic.

    According to market research firm Vietnam Report (VR), Vietnamese spend more than a third of their income on food and beverages, topping education and utilities.

    VR said the food and drink market has become more exciting in recent years with the entry of technologies such as phone apps that allow users to find nearby restaurants and order deliveries.

    Food and beverages were two of the 10 most bought products online last year, it said, citing data from market research company Nielsen.

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  • Willy Bogner opens in China ski resort

    Willy Bogner opens in China ski resort

    Munich fashion firm Willy Bogner is pushing towards internationalisation with the opening of a new Bogner store at the Thaiwoo Resort near Chongli, China. The resort is located in Hebei Province directly on the Great Wall of China, and extends over 40sqkm, three hours by car from Beijing. Once completed, it will feature 200 ski slopes and 45 lifts and gondolas, fitting snugly with Bogner’s traditional ski and winter sports business.

    The store has a sales floor area of 164sqm and has been designed according to the brand’s “Modern Natural” store concept.

    As the Chongli Area is considered to be the largest ski resort in China, the Thaiwoo Resort will play an important role at the Beijing Winter Olympic Games in 2022. The Chinese government has declared its intention to attract 300 million winter sports enthusiasts to China for the event.

    Bogner CEO Andreas Baumgartner said: “The Thaiwoo Resort is currently completely focused on skiing, the skiing season here lasts over 150 days thanks to the perfect altitude and climate – ideal for a store and the corresponding clothing that Bogner offers.”

    Global representation of Bogner currently consists of 19 of its own stores, 33 partner stores and more than 6500 trading partners in more than 50 countries. Together with its partners, Bogner operates more than 100 sites in the Asia Pacific region. The Bogner store at Thaiwoo will be the first partner store there.

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