Retail News CRM

Author: Mei Ling Tan

  • Global Brands expects massive loss this year

    Global Brands expects massive loss this year

    A big swing to a loss is expected by apparel group Global Brands Group Holding for its latest 12 months, to the end of March.

    A preliminary assessment of its accounts indicates a net loss attributable to shareholders of between US$70 million and $75 million.

    This compares to a net profit attributable to shareholders of about $90 million for the previous 12 months.

    Global Brands says the expected loss is primarily the result of one-off impairment charges from the write-off of a receivable arising from a loan made by the company, as well as impairment charges on various intangible assets. Also, a major licence expired during the year. Exceeding $100 million, the impairment charges and receivable write-off were non-cash adjustments.

    The company expects to release its annual results late next month.

  • Jollibee net profits rises in Q1

    Jollibee net profits rises in Q1

    Jollibee Foods Corp. said Friday net income rose 17.3 percent in the first 3 months of the year, as higher expenses offset growth in revenues, according to a stock exchange filing.

    Net income attributable to shareholders grew to P1.8 billion in the first quarter from P1.5 billion during the same period in 2017, the country’s largest fast food operator said.

    Gross revenues rose 19.4 percent to P35 billion while gross expenses rose 19.7 percent to nearly P32 billion, Jollibee said.

    Jollibee shares were up 2 percent at noon, compared to a 2.47-percent increase in the main index.

    Casual restaurant operator Max’s Group said Thursday net income fell 30 percent in the first quarter due to higher costs of raw materials and labor.

    Inflation reached a 5-year peak in April and on Thursday, the Bangko Sentral ng Pilipinas raised the benchmark borrowing rate for the first time since September 2014.

  • Amorepacific’s profit slide due to Chinese Challenges

    Amorepacific’s profit slide due to Chinese Challenges

    A sharp drop in Chinese tourist numbers has seen South Korean cosmetics maker Amorepacific’s profit slide 20.9 per cent in the first quarter.

    Net income came to KRW176.7 billion (US$163 million) in the January-March period, down from KRW223.5 billion won.

    Operating profit fell 25.5 per cent to KRW235.9 billion, while sales declined 8.8 per cent to KRW1.43 trillion during the cited period, it said.

    Amorepacific says the weak performance follows the decline in inbound tourists from China following the Beijing government’s ban on sales of Korea-bound package tours amid a diplomatic row over the deployment of a US missile system.

    The combined net income of Amorepacific Group, which includes brands like Etude and Innisfree, reached KRW216 billion in the quarter, also down 18.9 per cent.

    The total operating profit was down 26.5 per cent to KRW278.1 billion, and sales fell 10.3 per cent to KRW1.66 trillion.

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  • Cebu Pacific pushes fleet modernization

    Cebu Pacific pushes fleet modernization

    The Philippines’ leading carrier, Cebu Pacific Air (PSE: CEB), is beefing up its fleet with the arrival of three additional brand new Airbus A321CEO (Current Engine Option) aircraft. With these deliveries, the CEB fleet is now comprised of 65 aircraft, specifically four Airbus A321CEO, 36 Airbus A320, eight Airbus A330, eight ATR 72-500 and nine ATR 72-600.

    Cebu Pacific invested US$ 4.9 billion for its new A321 fleet, with deliveries of additional three A321CEOs and 32 A321NEOs (New Engine Option) spread from this year until 2022. These new aircraft support Cebu Pacific’s expansion plans across the region, further boosting a network that now spans over 100 routes on 37 domestic and 26 international destinations.

    The new A321CEOs can accommodate 50 more passengers, with a total seating capacity of 230 seats. Coupled with investments in avionics, this will enable CEB to operate more efficiently, and offer even lower fares to its customers.

    Cebu Pacific operates one of the youngest and most modern aircraft fleets in the world, with an average age of 4.86 years.

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  • Touché announces appointment of new Chief Legal Officer

    Touché announces appointment of new Chief Legal Officer

    Singapore based technology company Touché has announced the appointment of Mr Arvind Vij to the position of Chief Legal Officer with effect from 01 May 2018. Arvind is joining Touché’s experienced executive leadership team.

    Arvind brings with him 20+ years of international legal experience across different sectors, both as an in-house lawyer and in private practice. He founded and served as the Chief Executive Officer of Illuminati Humanista Solutions, providing specialised and customised services in the areas of Legal, Compliance and Corporate Secretarial support to a diversified range of clients in the areas of Corporate, Commercial Banking and Finance, Information Technology and Intellectual Property.  Arvind will continue to be involved with Illuminati.

    Prior to that, Arvind spent more than 14 years at JPMorgan in Singapore, Mumbai & New York and was most recently Managing Director & Associate General Counsel, Global Head Legal Entity Management and General Counsel and Head of Compliance for Offshoring and Outsourcing. Prior to JPMorgan, Arvind was with Drew & Napier in Singapore, Milbank, Tweed, Hadley & McCloy in Singapore & New York and Pillsbury Winthrop in Singapore & New York.

    Arvind will report directly to Sahba Saint-Claire, Chief Executive Officer and co-founder of Touché.

    “Arvind’s unique blend of multinational legal expertise and business acumen makes him a great addition to the team as we realise our plans to redefine payment transactions into value-added interactions, in the region and globally. He joins us at an exciting time with multiple partnerships being discussed with leading banks and merchants across APAC and the Middle-East,” said Saint-Claire.

    “Touché is a dynamic company that is uniquely positioned to reshape the payments industry and provide personalised customer experiences through its comprehensive biometric based system. I look forward to joining the team and helping Touché develop and implement new strategies on legal matters,” said Arvind.

     

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  • Aldi, Costco bring prices down of groceries

    Aldi, Costco bring prices down of groceries

    International grocery giants Aldi and Costco are driving down fruit and veg prices in Western Australia at a faster rate than anywhere else in the country, according to new research.

    Analysis conducted by Bankwest has found that Perth shoppers spent 6.9 per cent less on fruit and veg in the year to September 2017 than the previous year, signalling a step up in competitive intensity among Australia’s major supermarkets as discounters increase their investment in the state.

    Overall food and non-alcoholic beverage prices declined by one per cent in the twelve-month period, 0.3 per cent higher than the nationwide average decline of 0.7 per cent.

    Over the last three years prices have declined by 1.4 per cent in Perth, with average grocery basket price declining by 5.1 per cent from $177.7 to $168.6 in the year to June 2016.

    Richard Bator, Bankwest’s general manager of business banking in WA, said that discounters are rapidly growing their market share out west.

    “The supermarkets industry is now one of the most fiercely competitive industries in the nation due to the rapid growth of international retailers competing for a share of the $100 billion industry.”

    German entrant Aldi began its expansion into Western Australia in 2016 and has been investing heavily in the market, while American giant Costco unveiled plans for two Perth locations by the end  of 2019 in March.

    In the year to June 2016 the average price of a grocery basket in Western Australia declined by 5.1 per cent  from $177.7 to $168.6 – prices have declined 1.4 per cent over the last three years.

    Smaller retailers have been adversely impacted by the increase in competition, particularly as Coles and Woolworths move to improve their fresh offers to shore up their own operations.

    Bankwest found that the number of grocery retailers employing less than 20 staff fell by 10.6 per cent in the year to June 2016.

    The story is more positive for the overall market, Bankwest said, which is projected to grow by 9.3 per cent in the five years to June 2022.

  • YourGrocer bought Aussie Farmers Customer Base

    YourGrocer bought Aussie Farmers Customer Base

    YourGrocer has purchased the brand and database of failed online grocery business Aussie Farmers Direct (AFD) for an undisclosed sum.

    The small Melbourne-based business said it has been working with the administrators since AFD collapsed over two months ago.

    The acquisition will see YourGrocer start to use the AFD brand throughout its website and on its fruit and veggie boxes as a “stamp of quality”.

    It will also see YourGrocer expand into the Sydney market by leveraging AFD’s 100,000-strong customer database on top of the “few thousand” customers it already has in Melbourne.

    “Our goal is to expand as quickly as we can without damaging the customer experience. The challenge for us is to figure out how to keep quality high as we scale,” YourGrocer co-founder Morgan Ranieri told.

    One thing that will not change is YourGrocer’s business model, which unlike AFD, is not a franchise.

    Growing pains

    Started in 2013 by Morgan Ranieri and two co-founders, who are no longer involved in daily operations, YourGrocer gives customers access to a variety of local butchers, fishmongers, greengrocers, markets and other independent grocery retailers online, with same-day delivery available for orders placed before 11am.

    The business has grown rapidly in the Melbourne market, doubling or tripling in size each year, and has experienced some growing pains as a result.

    In an email sent to customers today, Ranieri said YourGrocer is working to reduce the number of out of stock items and training its team in continuous improvement to provide a better quality of service.

    “We are going to be very careful with how much growth we take on over the next few months. We know that in the past we’ve sometimes grown too much, too quickly and that’s not been great for existing members,” Ranieri wrote in the email.

    To combat this, YourGrocer has built a wait list and will only be taking on new members when it knows it can handle them.

    Ranieri believes this growth is testament to the high level of customer demand for a convenient alternatives to Coles and Woolworths and produce and groceries from Australian farmers and local brands.

    More drivers, vans needed

    AFD also promised to provide a convenient, local alternative to the big supermarkets, but ultimately, it was unable to compete with the duopoly.

    According to submissions to the Senate franchising inquiry, AFD’s growth was hampered by poor quality produce and insufficient investment in infrastructure, including technology issues and shortages of chillers.

    However, Ranieri said he does not anticipate any bottlenecks on the supply side.

    “Finding suppliers for us is relatively straightforward. There are thousands of amazing independent grocers. The biggest thing we need as we scale is more drivers and refrigerated vans,” he said.

    Ranieri is looking to hire some former AFD franchisees to grow YourGrocer’s delivery team. The Melbourne-based business currently employs around 25 people total.

    “We don’t have work for all of them immediately. I wish we did,” he said.

    After failing to find a buyer for AFD last month, administrators wound up the business, leaving creditors $69.2 million out of pocket, 260 employees without a job and 100 franchisees with worthless investments.

  • KBank teaming with Com7 to expand the BaNanas IT stores

    KBank teaming with Com7 to expand the BaNanas IT stores

    Com7 has teamed with Kasikornbank (KBank) to expand the BaNana store chain, enabling younger consumers to access IT products and services more conveniently.

    Their first joint BaNana pilot branch was in Yasothon, and the two companies plan to have 20 more mini-branches by year’s end offering more diverse retail business and comprehensive financial services in Thailand, says Com7 CEO Sura Khanittaweekul.

    The listed company aims to achieve 600 branches under its management by the end of the year, up from 434 last year. Com7 has set an income-growth target of not less than 15 per cent for this year. Last year’s income came in at THB22.584 billion and net profit at THB608.8 million, both records for the business.

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  • Dunhill London store in Hong Kong opens with a new Design

    Dunhill London store in Hong Kong opens with a new Design

    Dunhill describes the launch of its new Dunhill London store in Hong Kong’s IFC Mall as “a strategic milestone” in the brand’s evolution and global expansion.

    “A new language of retail design builds an engaging visual conversation, where an open and clean space showcases the best of British luxury menswear in an understated, relevant and approachable way,” the company says, describing the essence of its newest store in Hong Kong, one of four opened in greater China over recent weeks.

    “Engineering and craftsmanship are combined to create a masculine and contemporary space, through the interplay of walnut woods and marble, together with signature leather and metal details.”

    The other new stores opened simultaneously in Shanghai’s Grand Gateway, Beijing’s Wangfu Central & Xian SKP.

    The Dunhill London store at IFC Mall has a 123sqm footprint.

  • Li & Fung introduces Instant Printed T-shirts

    Li & Fung introduces Instant Printed T-shirts

    T-shirts will be the primary focus of a new partnership between retail supply-chain company Li & Fung and US sewing technology company software.

    The aim is to create a fully digital manufacturing supply chain for apparel and textile products.
    Softwear’s digital t-shirt Sewbot Workline is fully autonomous and with a single worker produces one complete t-shirt every 22 seconds – twice as fast as manual sewing.

    “This partnership with Softwear Automation is another building block in our end-to-end digital supply chain,” says Li & Fung group CEO Spencer Fung. “Through this collaboration we want to partner with an initial set of manufacturers to create our first fully digital apparel supply chain and use those learnings to scale the technology and create customised systems for our supplier network around the world.”

    “We have a shared vision with Li & Fung that the analog will become digital,” says Softwear Automation chairman/CEO Palaniswamy Rajan. “Consumers’ demand to get things faster than ever before is only increasing. With Li & Fung, our revolutionary Sewbots will enable the speed needed for on-demand, made-to-measure manufacturing at scale.”

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  • Tiffany & Co turns yellow cabs blue

    Tiffany & Co turns yellow cabs blue

    Tiffany & Co has turned New York City’s yellow cabs to the jewellery brand’s trademark eggshell blue.

    Seven locations across the city have also been given the blue treatment, inspiring an Instagram scavenger hunt.

    The move celebrates chief artistic officer Reed Krakoff’s first jewellery collection for the label, themed around the iconic moment from the movie Breakfast at Tiffany’s in which Audrey Hepburn’s character stands in front of the store’s window with a coffee and croissant.

    The Atlas clock at the Fifth Avenue flagship store has also been transformed into a digital screen featuring behind-the-scenes footage and vignettes from a campaign film.

  • Zong 4G – No.1 Data Company of Pakistan Continues its Expansion Nationwide

    Zong 4G – No.1 Data Company of Pakistan Continues its Expansion Nationwide

    In a prolific development, Pakistan’s largest telecom network Zong 4G has launched its operations in the port city of Gwadar, a future international business hub which has already seen foreign and local investment amounting in billions of dollars and rupees.

    The launch of fastest 4G services in Gwadar implies that foreign citizens from across the globe and local residents who have been pursuing their respective business endeavours in the port city will have unhindered access to the fastest 4G technology against reasonably affordable tariff. The move is likely to boost online businesses in the fast developing international city and the adjoining belt of rural Sindh.

    With its 4G consumer-base already having exceeded the 6 million mark, Zong eyes to keep expanding its matchless voice and data services.

    “Zong 4G’s network expansion symbolises our customer-centric approach to ensure that the interests of consumers stay above all the rest by offering them best and affordable network,” the telecom company said in a statement.

    “We keep expanding our operational portfolio to ensure enhanced operations in cities, towns, villages, and far-flung areas,” it said.

    The ongoing momentum of the rapid network expansion implies that Zong 4G continues to invest heavily in modernisation of the mobile network to respond to growing market needs.

    Innovation, performance and reliability have long been Zong’s hallmark. The No.1 Data Company of Pakistan epitomises professional excellence and digitised supremacy coupled with its customer-oriented policies with an aim to deliver the best but at highly affordable rates.

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  • AirAsia now flies directly from Penang to Hanoi and Phuket

    AirAsia now flies directly from Penang to Hanoi and Phuket

    AirAsia is flying directly to two popular Asean destinations from Penang – bringing the popular Malaysian state closer to Hanoi in Vietnam and Phuket in Thailand. Starting from July 1, flights to Hanoi will operate four times weekly while flights to Phuket will operate daily.

    AirAsia Malaysia commercial head Spencer Lee said Penang is a great tourism hub due to its Unesco World Heritage status, vibrant cultures and beautiful architecture.

    “More importantly, its strategic location at the crossroads in the region has helped boost the growing inbound and outbound travel demand that saw seven million tourist arrivals via air travel last year,” he said.

    Lee added that the new routes will improve the tourism sector in the region. “We are positive that the latest routes will significantly contribute to the tourism sectors of all three countries to become a desirable tourism region for travellers across the world,” he said.

    Hanoi is one of Vietnam’s main cultural centres and is steeped in rich history. The capital city boasts a bustling yet laid back atmosphere with attractions easily explored on foot such as the Hoan Kiem Lake with its famous red bridge that will lead you to the Ngoc Son or Temple of Jade Mountain located on Jade Island.

    Travellers can soak up the emerald green beauty of Halong Bay that is made up of over 3,000 limestone islets and home to caves and grottos as well as fishing villages.

    The picturesque town of Sapa in the north also awaits travellers with its rugged scenery of rice terraces and lush greenery popular for mountain trails or cycling expeditions. In addition to Sapa, travellers can also opt for other parts of northern Vietnam such as Son La and Bac Ha.

    A tour around Phuket’s town will uncover many charming old world architecture.

    Meanwhile, Phuket is more than Patong’s endless beach umbrellas and Soi Bangla’s nightlife. There are several beautiful beaches, breathtaking viewpoints, and both relaxing and extreme activities to fill your itinerary.

    A winding road leads to the top of Nakkerd Hill, where the Big Buddha marble statue looks over the island. Then, move into the interior of Old Phuket Town for a walking tour of this once-neglected district.

    Also, don’t miss the islands of Phang Nga Bay. Whether paddling into lagoons within limestone cliffs on a kayak or taking a speedboat tour of James Bond Island and the village-on-stilts Koh Panyee, you’re bound to have a memorable day cruising around these dreamy islands.

  • City Square Mall the First Retail Mall in Singapore to Receive the BCA-MSF Platinum Award

    City Square Mall the First Retail Mall in Singapore to Receive the BCA-MSF Platinum Award

    Consistently award-winning since its inception in the areas of family, retail and green leadership, City Square Mall is now Singapore’s first and only retail mall to be presented with the BCA-MSF Universal Design Mark for Family-Friendly Business Platinum Award.

    The new Universal Design Mark for Family-Friendly Business is a collaboration between the Building and Construction Authority (BCA) and the Ministry of Social and Family Development (MSF). This is a new Universal Design (UD) Mark category recognising businesses which incorporates both user-friendly infrastructure and family-friendly service and processes in facilities, both of which are indispensable in providing a family-friendly environment.

    This year, City Square Mall has been awarded in recognition for its efforts to incorporate both UD and family-friendly elements in their facilities, process and services and managed to maintain the highest UD Mark award this year for this new category.

    CDL’s Centre Director of City Square Mall, Mr. Lionel Chua, said, “Beyond a developer of quality spaces, CDL is also a builder of lives and communities. We believe in constructing spaces that are inclusive and accessible to all. When City Square Mall opened in 2009, we were one of the first malls to provide help call points at the mall’s entrances and an air-conditioned sheltered taxi stand cum drop-off point at the basement. Since receiving the BCA Universal Design Award (Gold) in 2010, we have continued to enhance the mall’s inclusive and family-friendly shopping experience with various amenities. For instance, we introduced an inclusive playground with a wheelchair-accessible merry-go-round and swing seats with safety harnesses. We also equipped our Customer Service Counter with a comprehensive range of family-friendly amenities from baby strollers, kiddy carts and wheelchairs to blood pressure monitor, first aid kit, magnifying glass reader and sewing kit. These features have brought great convenience to our shoppers and enhanced our branding as a family-friendly mall. With these constant updates to family-friendly features in and around the mall, City Square Mall has consistently seen a year-on-year increase in its annual footfall.”

    City Square Mall is an ideal venue for 3-Generation (3G) families to interact and bond through its diverse tenant mix to cater to the varied needs of families and is well integrated with amenities that provide greater comfort, safety and convenience for families, including the young, the old and persons with disabilities.

    Founder of Leap Schoolhouse, Ms Esther Lim mentioned, “We first opened our Enrichment Centre in 2009 at City Square Mall and we have been one of the pioneer tenants ever since. With a diverse tenant 2

    mix at the mall for 3-Generation (3G) families to interact and bond, such as enrichment classes for children, wellness services for the elderly, play-themed outlets for teenagers, and retail and entertainment outlets to spend more family time together in the mall, Leap Schoolhouse has seen year-on-year increment in the number of kids enrolled at our centre and this has enabled us to expand our services over the years.”

    Since receiving the BCA Universal Design Award (Gold) in 2010, City Square Mall has continued to enhance the mall’s inclusive and family-friendly shopping experience with various amenities.

    Key UD and Family-Friendly Features

    • • Since opening its doors in 2009, City Square Mall is one of the first malls to provide help call points at strategic entrances and an air-conditioned sheltered taxi stand cum drop-off point at Basement 1.
    • • Pledged its support for the Guide Dog Association of the Blind in 2012.
    • • Spacious family and nursing rooms with private cubicles complete with electric sockets, hot water dispensers, sinks and diaper-changing stations for mothers or parents to attend to the needs of their young children in comfort and privacy.
    • • Complimentary use of baby strollers, kiddy carts, magnifying glass reader, wheelchairs, sewing kit, thermometer, blood pressure monitor, drinking water, first aid kit, and mobile and tablet charging station. The mall constantly monitors equipment usage and shopper feedback and conducts competitor research so that the facilities and services provided remain relevant.
    • • The outdoor playground at Level 1 features a wheelchair-accessible merry-go-round and swing seats with safety harnesses which enable children with all abilities to play together.
    • • Diverse tenant mix that caters to 3G families, such as enrichment classes for children (e.g. Genius R Us), advice for the elderly (e.g. Agency for Integrated Care), play themed outlets for teenagers (e.g. TimeZone, PLAYe), and retail and entertainment outlets suitable for everyone such as Decathlon and Golden Village.
    • • Fun and engaging character shows, e.g. Anime Film Festival, Transformers, are organised during school holidays to allow families to spend time together at the mall.
    • • Events and activities are also organised to cater to different age groups such as Line Dance for the elderly and Zumba for working adults. Educational exhibitions advocating healthy living, heritage matters and water conservation, are held in partnerships with HPB, PUB and NHB.
    • • The Customer Service team receives regular training on the mall’s Standard Operating Procedures (SOP) on service, first aid and other relevant areas to guide them in delivering optimal service to family shoppers. The team also walks around the mall to identify and offer help to shoppers in need.

     

  • ETF Conference to be held in Shanghai

    ETF Conference to be held in Shanghai

    Shanghai Stock Exchange has distributed “Stock Share Option Industry Report” to its securities members. Report noted, in January 2018, Shanghai Exchange 50 ETF, daily deal has reached 1.29 million, with an increase of 13.74%, the highest trading day since the establishment of SH50ETF.

    One of the Private Equity Investors disclosed, with the climb in price of SH50ETF in 2017, funds are coming in from everywhere. Staring at the in-market ETF Share Option. Some of the Quantitative funds has been join in the game to look for a share of the profit.

    With the increase interest from the investors, SH50ETF has progressed itself. By the end of January, there are more than 260 thousand investor accounts. With 2126 new broker accounts. With 84 securities, 23 CTA brokers. ETF in China will be, also soon to be one of the largest in the world.

    CaishiV will be hosting the 2nd Real Estate Equity Investment & REITs, with support from our long-term partners, such as AIMA, CFA, CHFA and CAIA. For the past years, CaishiV have managed to reach out to more than 5000 management positions, company leaders and industry leaders. They provide the industry leading conference management. There will be top investors, firms and fund managers, rounding 400 attendees across the industry.

    In 2018, the event topics will be: The Future of Smart Beta, Thematic ETFs will Play a Big Role in 2018, Bitcoin ETF, Will ESG ETF Do a good job in emerging markets, Gold ETF and Bond ETFW, Quantitative investment in ETF; Equity ETF – How to Actively Manage You, Equity Portfolios, Data Mining + Tech Innovation, AI in ETF, Should We Add Blockchain Inside, What Kind of Strategy will be Most Attractive in Emerging Markets; Cross-border ETF Investment, Profit form Global ETFs…

    To learn more, please go to nextetf.com/index.php/en/index.html. Or contact dorothy.yao@finfoglobal.com.

     

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