Author: Mei Ling Tan

  • @Cosme arrives in Hong Kong

    @Cosme arrives in Hong Kong

     

    Japan-listed cosmetics review media and retail company Istyle Inc today opened its first cosmetics @cosme Store in Hong Kong.

    In Tsim Sha Tsui, the outlet offers Japanese cosmetic brands with rankings and testers for almost all products.

    Istyle executive officer Hajime Endo, who is also president of Istyle Retail (Hong Kong), says the Hong Kong store follows the model of Japanese stores with event and salon space allowing for makeup demonstrations and the opportunity for customers to meet with the brand owners.

    Founded in 1999, Istyle Inc owns the @cosme beauty portal sites and cosmetic stores. The first @cosme Store opened in Shinjuku, Tokyo, in 2007. Istyle Inc has 25 outlets in Japan and four outlets offshore. Its move into Hong Kong was made possible through Invest Hong Kong.

  • Poundworld on the brink of collapse with 5,300 jobs at risk

    Poundworld on the brink of collapse with 5,300 jobs at risk

    UK discount retailer Poundworld is on the brink of collapse with an administrator about to be appointed following the collapse of talks with a potential angel investor.

    As reported, the company has filed a notice of intention to appoint an administrator, giving the company 10 business days protection from its creditors, and management time to finalise a restructuring plan to keep the 355-store chain trading.

    The UK financial press reports that Deloitte has been appointed to oversee the administration process and was already working on a plan as a contingency should a new owner not be found.

    Retail turnaround specialist Alteri Investors this week walked away from talks over taking over the ailing company leaving the owners with no other option than to commence administration procedures, given the business is running low on cash.

    Poundworld is owned by US private-equity company TPG Capital. Last financial year it lost £17.1 million, more than three times the loss of the prior year.

  • New  TWG Tea Leicester Square Boutique has more than 800 teas

    New TWG Tea Leicester Square Boutique has more than 800 teas

    TWG Tea has launched a London flagship in Leicester Square.

    Inside, the TWG flagship are tables laden with colourful cannisters of the company’s teas, including London Breakfast, Paris Breakfast (with candied spices), Russian Breakfast (Georgian smoky tea with bergamot); afternoon and evening blends like the Orient Express (black tea with wild berries) or Longevity tea, with white leaves; fun blends such as Silver Moon (green tea with berry and vanilla), Emerald River (green with Burma fruits) and the White House (with fruits and roses).

    There are also teas for the connoisseur: the rare first-flush and the white Darjeelings, Chinese Yellow teas, once a drink for emperors, the white Yin Zhen, and blue tea. Prices range up to £1300 for 100g. All up, there are about 800 teas in this branch. In the company’s other, smaller new shop on Brompton Road, opposite Harrods, there are 600.

    Tea can be imbibed from breakfast through to dinner in the tea-salon-cum-restaurant upstairs. This is a grand Chinese room, with tea-leaf shapes on the ceiling and red lacquer panelling. At the back, there is a museum of tea artefacts, from Russian samovars to old dragon-wreathed Chinese teapots and chests.

    As well as teas there are tea-flavoured biscuits and patisserie and ice cream. “We don’t want it just to be about afternoon tea,” says TWG co-founder Maranda Barnes. “We want it to be for every time of day, for everything you do. I was 18 before I started drinking tea. I have it with my girlfriends when I want to unwind, when I want to celebrate, when I want to get myself going. I want everyone to feel that there’s a tea for them. I don’t want it to be stuffy and intimidating.”

    Waiters recommend teas to go with the food, but there is also tea in the food … macha salt on the French fries, Sencha tea and popped rice on the butter and tea leaves in the bread, macha beurre blanc in the Norwegian salmon sauce and the Sakura! Sakura! Tea in the sorbet that goes with the Bain de Rose dessert.

  • Vietnamese coffee prices keep dipping

    Vietnamese coffee prices keep dipping

    Coffee prices in the Central Highlands have been decreasing since the beginning of the year, and are not likely to recover any time soon, according to the Ministry of Agriculture and Rural Development.

    The price stands at VND35,100–35,500 ($1.55-1.56) per kilogram, down VND400–600 from the end of last year.

    This is the lowest price in the last two months and Vietnamese farmers are holding on to their stock without selling, a ministry report said.

    It attributed the price to favorable weather in Brazil, the world’s top coffee exporter; and the start of a new season in Indonesia, another major producer and exporter.

    With global supply remaining high, a price rise is unlikely to happen soon.

    However, Vietnam still enjoyed a positive export situation in the first four months of the year, exporting 41,700 tons of coffee worth $161 million, an increase of 23.5 percent in volume and 19.6 percent in value.

    Germany and the U.S. remain the largest markets for Vietnamese coffee, respectively accounting for 13 and 11 percent of total exports, according to the agriculture ministry.

  • Lisa Lim Poh Lin appointed as independent non-executive director of Axiata Malaysia

    Lisa Lim Poh Lin appointed as independent non-executive director of Axiata Malaysia

    Axiata Group Bhd has appointed Dr Lisa Lim Poh Lin as its independent non-executive director to further strengthen the board’s diversity mix and expertise.

    The appointment came into effect on June 8.

    “We constantly strive to build a board composition of relevant business expertise, global experience and diversity of backgrounds. As an accomplished Malaysian scholar with high-profile global corporate experience, Lisa’s deep experience in the competitive world of business, technology and finance will significantly contribute to our board deliberations. We are pleased to have her join us and we look forward to her contributions,” said Axiata chairmanTan Sri Azman Mokhtar in a statement.

    Meanwhile, Axiata president and group CEO Tan Sri Jamaludin Ibrahim said Lim’s experience will add another dimension to the board’s composition and her passion for nurturing and developing digital talents and entrepreneurs is aligned with the group’s aspirations of building a vibrant digital ecosystem within Asean and South Asia.

    Lim has over 18 years’ of experience in management consulting, academic research and investment management and has served as a fund manager at Columbia Threadneedle. She was also a sector leader for Global Telecoms Research.

    She holds a first class honours (BA and MEng) in engineering and a PhD in engineering from Cambridge University.

    She was a recipient of Malaysian Public Services Commission scholarship and The Cambridge Commonwealth Trust Scholarship. She is also a certified financial analyst (CFA) charterholder.

  • Founder Bak Kut Teh lands in Vietnam

    Founder Bak Kut Teh lands in Vietnam

    Singapore’s pork ribs restaurant chain Founder Bak Kut Teh has opened its first outlet in Vietnam.

    Located on the ground floor of Ho Chi Minh City’s RomeA shopping centre in District 3, Founder Bak Kut Teh Vietnam offers the original Singapore menu.

    The brand’s founder Chua Chwee Whatt visited Vietnam for the grand opening and personally prepared the dishes for diners.

    Established in 1978, Founder Bak Kut Teh has two branches in Singapore and one in Jakarta, Indonesia.

    The brand launched in Vietnam under a franchise agreement with local Foodjoy company.

  • Muji opens flagship store on JD.com

    Muji opens flagship store on JD.com

    Muji will launch an online flagship store on JD.com, and promote the partnership with posters in 231 of its stores throughout China, it announced.

    This will make it easier for online Chinese consumers to find and purchase Muji’s full range of Japanese product categories, including clothing, household items, home furnishing and even food.

    “We are very excited to announce the opening of our store in JD.com, following the cooperation with JD Logistics, which began in September 2017,” said Naoyuki Yamamoto, president of Muji  Shanghai. “We look forward to bringing our vision of a simple, pleasant life to people, as well as contributing to society, through this partnership with JD.”

    The e-commerce giant said Muji is a “hugely popular brand” and that the launch on its platform will take it to new levels. “Known worldwide for its simple aesthetic and well-designed products, MUJI has garnered a loyal fanbase of quality-conscious customers. With our commitment to delivering authentic products with world-class service, JD is the perfect home for Muji’s premium wares.”

    The brands plan to deepen their link during the second half of the year with a more comprehensive omnichannel integration covering membership programs, products and more.

    Muji sells low-cost, high-quality items that are renowned for their clean lines and minimalist design.

  • World Bank raises 2018 growth forecast for Vietnam

    World Bank raises 2018 growth forecast for Vietnam

    Vietnam’s economy might expand by 6.8 percent this year, the World Bank (WB) says in a new report, revising upwards its previous forecast of 6.5 percent in April.

    It estimates GDP at 6.6 percent in 2019 and 6.5 percent in 2020.

    The bank explained its upward revision on better prospects for the expansion of agriculture and production for exports, continued inflow of foreign direct investment thanks to bright economic prospects.

    If the actual growth rate matches projection, it will be the same as last year, which was the highest in a decade.

    In the first quarter this year, the economy expanded 7.38 percent, also a 10-year record, thanks to the strong growth in agriculture, industry-construction and service sectors.

    In an interview in April, Prime Minister Nguyen Xuan Phuc had said Vietnam will maintain its current economic growth until 2020 by giving private firms more room to grow and driving positive change in rural areas.

    He said Vietnam will facilitate an economic environment conducive for private firms to thrive, noting that they account for 43 percent of the nation’s GDP.

    The Vietnamese government will help by developing new policies, distributing resources, encouraging the creation of new enterprises and giving firms more opportunities to use modern technologies, said Phuc.

    “We will try to put in place the most favorable policies and create the most favorable environment so that by 2020, we will have in operation over one million businesses, accounting for 50 percent of Vietnam’s GDP, up from 43 percent at present,” he’d said.

  • Gucci unveils Gucci Equilibrium

    Gucci unveils Gucci Equilibrium

    Gucci has its finger right on the pulse of the fashion industry, as its latest initiative, Gucci Equilibrium, solidifies its position as a sustainable, responsible as well as highly-desirable luxury fashion house.

    Today, on World Environment Day, the Italian fashion house launches its new online destination at Equilibrium.gucci.com, “designed to connect people, planet, and purpose,” as ideas surrounding what it means to be luxury continue to evolve.

    The initiative is part of Gucci’s mission to balance the creation of luxury fashion with a radical sustainability agenda, as its parent company Kering continues strives to offer the best products, made in the best way out of the best materials while taking the best care of the planet and its inhabitants.

    “Gucci is not a company where you must leave your values at the door, but one where they are enhanced, challenged and amplified,” said Marco Bizzarri, Gucci President and CEO in a statement. “Gucci Equilibrium is about us spreading that energy and that positive intent to everyone who loves our brand.”

    The new platform shares curated content which showcases the stories, ideas and the science behind Gucci’s environment and social impact change, all while highlighting the luxury fashion house’s perspective on some of the key issues within the industry.

    The launch is part of Gucci’s wider 10-year plan to embed a comprehensive sustainability strategy into its brand, one which will be governed by a Culture of Purpose.

    In turn, this Culture of Purpose dictates Gucci’s operations on a daily basis, which are held in place by three pillars that include the environment, people and new models of sustainable innovation. Under the first pillar, Environment Gucci highlights its commitment to reduce its environmental impacts by setting targets to develop a new standard in luxury.

    For example, on the new platform readers can learn more about Gucci’s aim to guarantee the traceability of 100 percent of its raw materials by 2025 – a tall order for any brand.

    People, the second pillar, sees Gucci recognizing the value of its employees and working to enhance the lives of the individuals who make its products by supporting local communities. For example, Gucci is committed to fighting gender inequality through its Chimes for Change for Girls’ and Women’s Empowerment campaign.

    Gucci Equilibrium also shines a light on I was a Sari, a social enterprise which works with women from marginalised communities in Mumbai, teaching them new skills to bring in recurring income.

    At the same time, Gucci also underlines its use of technical innovation to improve efficiency in its production and logistics under its third pillar, New Models. For example, its newly opened Gucci ArtLab, offers a start-up environment for innovation, craftsmanship and experimentation.

    “These are critical times when we can all play our part in helping to deliver on the UN Global Goals and the Paris Climate Agreement,” added Bizzarri. “The only way to do that is by bringing people together, sharing ideas, innovation, and experiences. This is the objective we have set for Gucci Equilibrium.”

  • Korea now fifth-biggest beauty exporter to EU

    Korea now fifth-biggest beauty exporter to EU

     

    Korea is now one of the top beauty product exporters to the European Union, surpassing Japan to take the No. 5 spot in terms of value.

    According to a report released by the International Trade Association on 5 June, Korea exported 135 million euros (US$158 million) of beauty products to the EU last year, pushing Japan down to the No. 6 spot.

    The United States took the top spot last year, with 1.2 billion euros of exports to the EU. China came in second with 630 million euros, followed by Switzerland with 574 million euros and Canada with 137 million.

    Although it placed fifth overall, Korea actually recorded the highest year-on-year increase among the top five, at 46.8 percent. The report added that the 135 million euros was a 10-fold increase compared to 2010.

    A major contributor to the rise in popularity of Korean beauty goods across Europe is the growing trend for eco-friendly or vegan lifestyle. The analysis, from Korea International Trade Association’s (KITA) Brussels office, pointed out that Korean brands managed to cater to these changing tastes as they heavily promote the use of natural ingredients like ginseng, green tea and aloe plants.

    This was backed by a survey conducted by Cosmetics Europe in April last year: 52 percent of respondents answered that a product’s effect on the environment was a major factor they considered when making beauty purchases.

    The analysis said that there is a growing perception in Europe that Korean beauty products are good quality. Korean brands also offer products that are otherwise hard to find from European brands, like sheet masks and cushion foundations.

    For companies that aim to launch businesses in Europe, KITA advised that it’s necessary to verify that product ingredients are not animal-tested, as such testing was banned by the European Union in 2013.

    “Several European companies said Korean brands have to work more to increase awareness and particularly make sure to emphasize that they are Korean, as a lot of European consumers know that animal-testing is mandatory for beauty products in China,” said the report.

  • Verizon names former Ericsson chief as new CEO

    Verizon names former Ericsson chief as new CEO

    Former Ericsson chief executive Hans Vestberg was named Friday as the new CEO of US telecom group Verizon, succeeding Lowell McAdam as of Aug 1.

    Vestberg, 52, is currently chief technology officer and head of global networks for Verizon, the leading US wireless telecom group which also owns the AOL and Yahoo brands and is a major broadband provider.

    McAdam, 64, who has been CEO since 2011, will serve as executive chairman until the end of next year, when he will retire and become non-executive chairman, a Verizon statement said.

    Under McAdam, Verizon took over the stake in the important wireless unit from Britain’s Vodafone and built a customer base of more than 150 million.

    He also led efforts to buy faded internet stars AOL and Yahoo to create a digital media operation within the firm, under the brand known as Oath.

    Vestberg, a native of Sweden, served for six years as president and CEO of that country’s big telecom-networking group Ericsson before moving to Verizon.

    He takes over as telecom firms race to build fifth-generation, or 5G networks expected to lead to an array of new services such as telemedicine and autonomous vehicles.

    The transition also comes amid a pending tie-up between number three and four carriers T-Mobile and Sprint, subject to regulatory review.

    Verizon’s main competitor, AT&T, is seeking a transformation with the purchase of media-entertainment giant Time-Warner, a deal being challenged by US antitrust authorities.

    “I am humbled to be appointed CEO of Verizon at such an exciting and dynamic time for our company and industry,” Vestberg said.

    “We are experiencing unprecedented changes in the way users interact in the digital world, and we are racing ahead to remain at the forefront of technology, connectivity and mobility.”

  • Pop by the Burberry Conservatory Pop-Up at Marina Bay Sands

    Pop by the Burberry Conservatory Pop-Up at Marina Bay Sands

    Following Dubai and Seoul, the next stop on the Burberry Conservatory pop-up world tour is Singapore.

    The headline star for the pop-up is a tote known as the Belt Bag, which made its debut at Burberry’s February show in London.

    Modelled after quintessentially English greenhouses, the space will offer exclusive Belt models, namely limited editions in medium and small sizes sewn with rainbow belt detailing and equestrian knight embroidery. For customisation, a sample of exclusive belts with rainbow and grommet details will be available, bolstered by the brand’s now-signature monogram service.

    Another model will be the Pin clutch with four colourways in leather.

    Open from June 21 to July 8, the Burberry Conservatory will be open at The Shoppes at Marina Bay Sands.

  • Devialet Hong Kong flagship store is officially open

    Devialet Hong Kong flagship store is officially open

    Devialet, the French innovator in breakthrough sound technology, has officially opened its new Hong Kong flagship in Pacific Place located at Shop 134 on Level 1.

    Following a successful soft launch period and extensive three-phase remodel and renovation, Devialet Hong Kong customers can now fully experience the best sound in the world at new Immersive Rooms located within the 732 sq foot flagship in this iconic Hong Kong retail destination.

    As one of Hong Kong’s premier lifestyle hubs and purveyors of contemporary luxury, Pacific Place is the ideal fit for the new Devialet flagship and its iconic Phantom.

    The new opening marks the latest addition to Devialet’s fast-growing retail presence in Hong Kong, spanning the Devialet store at Harbour City in TST, an Immersive Room at Elements in West Kowloon, the Devialet Private Lounge (By Appointment Only) in Lee Garden Causeway Bay, and authorised dealers.

    The new store opening coincides with the launch of the new album of The Lost Recordings by Devialet and Fondamenta, a truly remarkable set of five previously unreleased recordings by piano maestro Emil Gilels.

  • Vietnam a dream destination for expats

    Vietnam a dream destination for expats

    Getting a job is easy, cost of living is low, and quality of life is high.

    It sounded too good to be true, but Samantha Beukes decided to check the place out. Friends had been raving on Facebook about living the good life in Vietnam. It was true.

    When she first came to Vietnam from South Africa, Beukes spent a month traveling around the most famous destinations in the country.

    And then, almost effortlessly, the 25-year-old found a job that she was very happy with. Opportunities to work in Vietnam, she realized, were more easily available here than in her own country.

    The abundance of job opportunities in several fields that Vietnam needs to tap international expertise in has been attracting many expats from all over the world. Between 2004 and 2015, the number of foreigners working in the country surged by more than six times, according to the Ministry of Labor, Invalids and Social Affairs.

    Vietnam has been named among the top 10 destinations for expats in the world in the 2018 Expat Insider survey of InterNations, a global expat network with 3.1 million members.

    An overwhelming majority – 81 percent – of surveyed expats described the Vietnamese people as welcoming, and 73 percent said it was easy to settle down in the country.

    Official data shows that there are now 83,500 expats working in the country, a number that has been increasing steadily since Vietnam launched its Doi Moi or renovation policy in 1986, firmly putting behind the long years of war and its aftermath.

    While many expats come here because finding jobs is very difficult for them back home, many are also drawn by the vibrant life they can enjoy even as they earn and save.

    High demand

    Vietnam’s rapid growth after years of relative isolation has also led to high demand for expertise in various areas, and this is most visible in the need for English teachers from kindergarten to university level.

    “Expats are just a quick Facebook search away from finding many high paid jobs, including teaching,” Samantha said. Currently, Samantha teaches at an international school, and four out of five foreigners she knows in the country are doing the same job.

    While English teaching jobs are most sought after by expats without much experience or advanced education, Vietnam also offers jobs aplenty in other sectors.

    Manufacturing, banking and retails are sectors that have a high demand for expats in the country, according to Ngo Thi Ngoc Lan, regional director of Navigos Search, which provides executive search services in Vietnam.

    In a survey by Navigos Group in 2017, 50 percent of business respondents in the retail sector said they had a policy to recruit foreigners. Among them, 56 percent of employers preferred candidates from Southeast Asia, and 22 percent from Europe, the survey found.

    Apart from the availability of jobs, high pay is another factor that lures many foreigners to the country. Expats in Vietnam made around $88,000 a year on average in 2017, according to the Expat Explorer survey done by London-based lender HSBC. Some 72 percent of expat respondents said they were able to save more money in Vietnam compared to other countries.

    “An expat is paid 30 to 50 percent more than a Vietnamese national,” Lan from Navigos said. In the areas of education and manufacturing, an expat can be paid two or three times higher than a Vietnamese employee to match the wages they would receive in their home country, she said.

    For high-ranking positions, businesses need to provide their expat workers with other perks like tuition fees for their children, rent, private driver and airfare travel for the whole family, Lan said.

    Comfortable lifestyle

    Given the low cost of living in Vietnam, the salary expats receive allow them to have a very comfortable life in the country.

    Having worked in Vietnam for over two years, Frenchman Benjamin Durand is very satisfied with the $2,500 paycheck he gets each month as a software engineer in Hanoi.

    This salary, which is roughly what an average Vietnamese makes a year, allows him to spend generously. In the weekends, Durand often goes climbing in the mountains around Hanoi or dancing in pubs where many foreigners gather to have fun. “Living in Vietnam is a great experience,” he said.

    ‘Live like a king’

    As of June 2018, the cost of living in two biggest cities in Vietnam are among the cheapest in the world, according to Numbeo, a collaborative online database which enables users to submit and compare living costs between cities.

    Hanoi ranks 7th and Ho Chi Minh City 9th in the index, with lower costs of living than Philippines’ Manila, Malaysia’s Kuala Lumpur and Thailand’s Bangkok.

    Megan, an English tutor in Hanoi who asked that her last name is not used, spends only half what she used to in the United States. Furthermore, she is able to save much more in Vietnam than in South Korea, where she lived for a year before coming to Hanoi.

    “You can really live like a king or queen in Vietnam if you want to,” she said.

    In areas of expertise where expats are in high demand, local businesses compete to give them attractive benefits that most locals don’t get. Apollo English, one of the most popular English teaching brands in Vietnam with 30 facilities in the country, provides incentives like airfare to the country, free accommodation for the first week and assistance in getting visas and work permits.

    Cleverlearn, another English teaching center, offers its foreign teachers salaries of up to $2,000 a month. The center also promises to provide assistance to expat teachers in finding housing and other needs when they first come to Vietnam.

    Visible privilege

    While many businesses hire foreigners to meet actual demand for human resource, there are those which employ them for the mere purpose of marketing, taking advantage of Vietnamese people’s preference for all things foreign.

    Advertisement agencies often employ expats to promote a product as they believe the appearance of a foreigner, especially a Western one, will attract more customers.

    This preference might not be well placed, sociologists say. “Many Vietnamese think that foreigners are wealthy and skilled in their profession, but that’s not always true,” said Dr Trinh Hoa Binh, deputy secretary of the Vietnam Academy of Social Sciences.

    The phenomenon reflects a lack of confidence of Vietnamese people in their own distinct culture, Binh said. He added that when Vietnamese people are more educated, they will start to see the true value of foreign labor in the country.

    But for now, such perceptions don’t bother expats happily enjoying their lives and privilege in Vietnam.

    Samantha, the English teacher from South Africa, says Vietnam will continue to be her second home in the foreseeable future as she has a very satisfying income in a culture where people are friendly and work opportunities are abundant.

    “I know of people back in my country who want to come over for work too”, Samantha said.

  • Fauchon Launches A Collection Of 20 Boutique Hotels

    Fauchon Launches A Collection Of 20 Boutique Hotels

    Luxury French food purveyor Fauchon will launch its global hotel brand Fauchon Hospitality in Paris on September 1.

    Long associated with fine foods, patisserie and French delicacies, the brand will open its first, the Fauchon L’Hotel Paris, as a 54-room, five-star property on the Place de la Madeleine, the home of the brand, since 1886.

    President/CEO Jacques-Olivier Chauvin says the strategy is to establish a portfolio of 20 Fauchon Hotel-branded properties over the next decade, including in Asia.

    “We are currently in advanced discussions for a hotel in Doha, Qatar and Kyoto, Japan, as well as with a top European player. We are in contact with a major US operating company regarding expansion in the US.”

    Early this year, the Fauchon Hospitality organisation was set up with  as president/CEO. A former Relais & Châteaux CEO, Chauvin is spearheading the bid to build on the brand’s 130-year-old gastronomy legacy to create a domain of service excellence, gourmet cuisine and tailored local experiences.

    He says the unique selling proposition of the hotels is that each will offer what they describe as “GLAM”: Gourmet – the most creative Parisian patisserie in traditional French culinary style; Location at the heart of major cities; Attention and experiences which are bespoke; and Mesdames – “always in tune with women, featuring sophisticated lighting, Dyson hair dryers, properly sized bathrobes, Carita amenities and more”.

    Chauvin says Fauchon Hotels will include the brand’s “in-room Gourmet Bar” which has disrupted the hotel minibar concept by providing guests with a selection of complimentary Fauchon products.