Author: Mei Ling Tan

  • Aeon, SoftBank, Yahoo Japan team up

    Aeon, SoftBank, Yahoo Japan team up

    Aeon and Yahoo Japan have not had tremendous success with their own e-commerce ventures, according to the report.

    Softbank’s IT prowess is seen as key to enabling Aeon to make the most of its brick-and-mortar assets in a retail sector quickly evolving as customer data and technologies such as artificial intelligence are leveraged to create better, more personalized shopping experiences.

    A teaming of these companies could also help Aeon keep up with the trend toward rolling out cashierless or unmanned stores, while helping Yahoo Japan become a more formidable, competitive e-commerce player.

    As with many strategic alignments between brick-and-mortar and e-commerce retailers, this potential partnership is being seen as an attempt to build an alliance worthy of challenging the international Goliath Amazon, which has set its sights on expanding in Japan.

    Physical retailers and e-commerce companies in other countries are becoming especially sensitive to Amazon’s threat as it continues to expand e-commerce interests internationally while also building up a brick-and-mortar presence through efforts like physical bookstores, Amazon Go and Whole Foods.

    As the largest retailers in many countries prepare for inevitable war with Amazon, as well as one another in some cases, there are two priorities. One is to become even larger and broader through partnership, acquisition or strategic investment. The other is to have solid footholds in both e-commerce and brick-and-mortar.

    Aeon, Softbank and Yahoo Japan are not the only ones evolving with these priorities in mind. We already have seen significant efforts from some of the world’s largest retailers and e-commerce players to do the same. For example, Walmart recently aligned with Japan’s Rakuten. China’s JD.com has been looking to expand into the U.S. and Europe, and fellow Chinese e-commerce giant Alibaba is aggressively investing in brick-and-mortar retail firms.

    By getting together in one way or another, Aeon and Yahoo Japan in particular may be looking to strengthen what have been weaknesses in their respective retail and e-commerce strategies, but they also would be positioned to play the game at a whole new level — that of a retail superpower fit to tackle new opportunities at home and abroad.

  • Reiss North Korea makes debut

    Reiss North Korea makes debut

    British fashion brand Reiss has launched in South Korea, at Shinsegae Department Store in Kangnam.

    Introduced by Shinsegae International, the brand plans to open 12 stores in both Shinsegae and Lotte department stores across the country by the end of this year.

    Reiss says it expects high sales with its offering of trending items priced to compete with local and international brands.

    Founded in 1971, Reiss offers designs inspired by classic movies and artworks. Its international expansion has also taken it to the US, Canada and Australia.

  • Fewer sales, but more profit for Bonia

    Fewer sales, but more profit for Bonia

    While Malaysian fashion retailer Bonia sold fewer handbags in its second quarter, it did manage to grow its net profit.

    It achieved a net profit of RM11.99 million (US$3 million) for the period, to the end of December, up 8 per cent. It attributes the upswing to lower running costs and improved gross profit margins.

    Quarterly revenue dropped 7 per cent to RM160.34 million, Bonia saying this had been anticipated because of the closure of counters as part of a rationalisation process.

    However, the lower revenue was offset by improved gross profit margins, up 5 per cent.

    Year-end sales and the festive season boosted revenue and operating profit to RM15.35 million.
    Business in Indonesia, Singapore and Vietnam was hit by weak consumer sentiment.

    Still, the quarterly growth was not enough to stem the fall on its half-year earnings, which saw net profit slide 31 per cent to RM13.3 million. Revenue contracted by 10 per cent to RM279.23 million.

  • Devialet opens its new store at Hong Kong

    Devialet opens its new store at Hong Kong

    Devialet, the French innovator in breakthrough sound technology, launches its new store at the iconic Hong Kong retail destination, Pacific Place.

    Fully operational during this soft launch period, Devialet Pacific Place will be continuously upgraded over the coming months to deliver the unmistakable Devialet experience with a grand opening in April this year.

    During this soft launch period, a section of the store’s complete retail area will be open while the full sales floor undergoes an extensive two-phase remodel and renovation. The upgrades will be completed in April this year, setting the stage for a grand opening where Devialet fully unveils this new space to experience the best sound in the world.

    Founded in 2007, Devialet is a leading tech start-up and the most award-winning company in the history of audio.

    Widely acclaimed by industry experts and international press, Devialet’s products now retail at the world’s most exclusive outlets, including Colette, Harrods, Kadewe and Apple Stores. Bernard Arnault, Jacques-Antoine Granjon, Xavier Niel and Marc Simoncini are among early investors.

    In December 2016, Devialet accelerated its development with a record €100m in fundraising from leading international investors to help deploy its technologies in new sectors and accelerate commercial development in Asia and the United States.

  • CapitaLand accelerates growth momentum in Vietnam with massive investments

    CapitaLand accelerates growth momentum in Vietnam with massive investments

    CapitaLand Vietnam plans its first mixed-use project for Hanoi.

    In Tay Ho district with West Lake views, the US$217 million project will comprise 19,000sqm of retail space, about 213,000sqm of office space and 380 residences including SoHo apartments.

    Its 0.9ha site connects to both the new and old business districts and is close to the diplomatic district and new government offices as well as the expatriate enclave of Xuan Dieu. It is less than 20 minutes’ drive from Noi Bai International Airport.

    “This mixed-use development allows us to strategically diversify and optimise our Vietnam portfolio with both good trading returns and a strong recurring income stream,” says CapitaLand president/group CEO Lim Ming Yan.

    The Singapore-based group has also set up its second commercial fund in Vietnam, CapitaLand Vietnam Commercial Value-Added Fund (CVCVF), which has closed at $130 million and will have a life span of eight years. CapitaLand and EA Commercial Holdings each hold a half interest in CVCVF, which will focus on grade-A commercial properties.

    After Singapore and Malaysia, Vietnam is the third-largest Southeast Asian market for CapitaLand. At the end of December it had $717 million worth of gross assets under management in Vietnam.

  • Bubba Gump closed doors in Malaysia

    Bubba Gump closed doors in Malaysia

    Restaurant chain Bubba Gump Shrimp Company Malaysia has closed two of its three outlets.

    In a surprise announcement, the US chain says its Citta Mall and The Curve outlets have been closed permanently, while it is business as usual for its first Malaysian outlet in Sunway Pyramid in Selangor.

    Inspired by the 1994 movie Forrest Gump starring Tom Hanks, Bubba Gump Shrimp Company opened its first outlet in Monterey, California, in 1996. It entered the Malaysian market in 2008. The restaurant is named after characters in the film – Benjamin Buford “Bubba” Blue (played by Mykelti Williamson) and Forrest Gump (Hanks). Even the dishes are named after characters in the movie.

    The chain has expanded to more than 40 outlets worldwide, including outposts in Hong Kong, Indonesia, Japan, the Marianas, the Philippines and Malaysia.

  • Shopee to offer Singaporean the China Marketplace

    Shopee to offer Singaporean the China Marketplace

    E-commerce platform Shopee Singapore has launched a China Marketplace.

    Users can access it via a dedicated entry point on Shopee’s home page.

    As well as offering a variety of products from China, the new marketplace offers inroads for sellers to tap into Shopee’s retail ecosystem in Singapore.

    In a survey of local online shoppers, Shopee found that more than 60 per cent of respondents shop for products from China at least once a month. Almost 90 per cent indicated they shop from China more today as compared to five years earlier, citing product variety, convenience and cost savings as key reasons. Also, a Paypal report says an estimated half a million Singaporeans spent about S$1.2 billion on cross-border shopping.

    For Shopee’s survey, 57 per cent of respondents said a pain point of cross-border shopping is high shipping fees, 39 per cent indicated language barrier, and 37 per cent listed poor user interface.

    “We believe Shopee’s China Marketplace is the perfect answer,” says Shopee Singapore chief commercial officer/country head Zhou Junjie. “Shoppers will also enjoy free shipping and no agent fees for purchases, as well as easy access to millions of translated listings.”

    China Marketplace features more than 1 million listings across such categories as women’s and children’s fashion, home and living, and kids’ apparel. Shoppers will also have direct access to China’s top sellers and leading lifestyle brands such as Xiaozhainv, Banfang Home, and Xi Home, which have gained significant popularity in Singapore over the past few years.

    “Shopee’s China Marketplace has provided us with a platform to expand our reach to Singapore, and a way to directly engage with an overseas customer base,” said a spokesman for Chinese fashion retail Xiao Zhai Nv. “With strong logistics and integrated payments support from Shopee, we can focus our attention on other aspects of the business, including curating the best product assortment suited for the Singaporean consumer, and enhancing overall customer experience through provision of strong customer support.”

  • Bolloré Logistics launches its weekly river shuttle in France

    Bolloré Logistics launches its weekly river shuttle in France

    Bolloré Logistics is launching its brand new river transport solution today, with the first commissioning of a river unit service running between Le Havre and Bonneuilsur- Marne via Gennevilliers, near Paris (France).
    This new service is fully consistent with the development strategy undertaken by Bolloré Logistics for the Seine Valley and its drive to develop innovative and eco-friendly solutions to meet customers’ needs.

    Designed as a flexible solution, the service offers several advantages. First of all, the environmental benefits of waterway transport, which is low in pollution and reduces greenhouse gas emissions. Bolloré Logistics will thus be reducing the share of road transport in favour of a barge service, allowing it to ship deliveries to its customers located in the Paris consumer basin. A “last mile” service, primarily operated by trucks running on natural gas, will
    round out this new logistics solution.

    Bolloré Logistics also wants to offer its customers the benefits of optimized cost management by taking advantage of the best port franchises offered by the Seine corridor. “The river corridor solution can help optimise the costs of parking import containers in Le Havre. Our goal is to offer our customers a flexible solution that reduces these costs.” says Laurent Foloppe, Director of the Normandy Region at Bolloré Logistics.

    The Bolloré Logistics motor barge will provide a shuttle service every Wednesday, running between the multimodal terminal of Le Havre and Bonneuil-sur-Marne to the south west of Paris, offering additional stops at the ports of Gennevilliers and Rouen. This solution allows Bolloré Logistics to offer a capacity of more than 5,000 TEUs to Paris’ Ports (Paris port and waterways authority). The motor barge will depart loaded from the two Parisian ports to Rouen
    and Le Havre.

     

  • 7-Eleven Malaysia numbers look good last year

    7-Eleven Malaysia numbers look good last year

    For the 4th Quarter ended 31 December 2017

    The Group’s revenue for the current quarter of RM546.2 million grew by RM22.6 million or 4.3% against the
    corresponding quarter’s revenue in the previous year of RM523.6 million. The growth in revenue continued to be
    driven by the growth in new stores, higher average spend per customer and better consumer promotion activity.

    Gross profit of RM173.8 million improved by RM13.1 million or 8.2% compared to the corresponding quarter in the previous year. This was mainly attributed to the increase in revenue and improvement in gross margin by 1.1% points. The improvement in gross margin was due to higher sales contribution from those categories with higher gross profit margins.

    Other operating income of RM42.7 million increased by RM10.5 million or 32.4% compared to the corresponding
    quarter in the previous year. This is mainly attributed by compensation income from vendors of RM9.3 million in the current quarter.

    Selling and distribution expenses for the quarter increased by RM6.5 million or 4.1% against the corresponding quarter of the previous year. This was mainly due to new store expansion resulting in higher rental cost, store depreciation
    expense and utility cost. Administrative and other operating expenses for the quarter increased by RM1.0 million or 4.4% due to increase in staff cost.

    The increase in revenue, gross margin improvement and other operating income resulted in the Group’s profit after tax of RM15.9 million, an increase of RM6.3 million or 66.5% as compared to the corresponding period in previous year.

    For the 12 months ended 31 December 2017

    For the 12 months ended 31 December 2017, the Group’s revenue of RM2.19 billion grew RM83.7 million or 4.0%
    against the corresponding period in the previous year of RM2.10 billion. The growth in revenue was driven by the
    growth in new stores, higher average spend per customer, improved merchandise mix and consumer promotion activity.

    Gross profit improved by RM44.8 mil or 6.9% compared to the corresponding 12 months in the previous year. This was mainly attributed to the revenue growth and gross profit margin expansion of 0.9% points.

    Other operating income increased by RM21.7 million or 18.8% compared to the corresponding 12 months in the
    previous year. This was mainly due to increase in marketing income by RM11.5 million and compensation income
    from vendors of RM9.3 million.

    Selling and distribution expenses for the 12 months period in 2017 increased by RM55.1 million or 9.2% against the corresponding period of previous year. This is mainly due to impact of minimum wages which came into effect from 1st July 2016, new store expansion and depreciation.

    Administrative and other operating expenses increased by RM5.0 million or 5.4% against the corresponding 12 months in the previous year. This is also mainly due to the increase in staff cost and staff training.

    This resulted in the Group’s profit after tax of RM50.1 million a decrease of RM2.1 million or 4.0% compared to the corresponding 12 months in the previous year.

  • WhereIsWhere Launches to Help Singapore Brick-and-Mortar Businesses Attract Customers

    WhereIsWhere Launches to Help Singapore Brick-and-Mortar Businesses Attract Customers

    Singapore’s first free marketing platform helping offline retailers bring nearby customers to their stores, has launched. With just three clicks, users will be able to discover what to eat, shop and do based on two factors: where they are and when they search on WhereIsWhere’s mobile app. In its initial roll-out, WhereIsWhere targets retailers and mall operators: it is already working with Wisteria Mall, a community mall slated to open by the third quarter of this year, to help drive store traffic to its mall and over 100 of its tenant brands.

    Retail is a key industry for Singapore – approximately 22,000 establishments account for almost 1.4 percent of Singapore’s GDP and 3 percent of its total employment. Brick-and-mortar businesses, however, are losing their market share as consumers shift to e-commerce platforms. To help these retailers become more discoverable, WhereIsWhere has developed an effective and affordable marketing solution for targeting and converting nearby consumers.

    “Retailers today face real challenges and frustrations, from high rental prices to the constant fear of losing market share to e-commerce,” said Terence Mak, CEO and Founder at WhereIsWhere. “Brick-and-mortar businesses never really had a platform for differentiating offerings and driving in-store traffic. WhereIsWhere aims to level the retail industry playing field through effective and affordable targeting that enables consumers to better learn about great deals and happenings around them.”

    Driving mobile-first shoppers to offline stores

    With over 80 percent of Singaporeans using smartphones, WhereIsWhere allows offline businesses to cater to mobile-first consumers by enabling brands to push live updates and flash campaigns towards consumers nearby. For users, they can instantly find what to eat, shop and do based on search parameters.

    Businesses can register their listings and activities on WhereIsWhere for free. With WhereIsWhere’s interactive map, businesses can mark their exact location and easily drive nearby traffic to their storefronts. Businesses can also push unlimited marketing messages on WhereIsWhere’s self-servicing dashboard, which allows them to design and run campaigns across multiple outlet locations in real-time, for a fixed monthly fee of S$100 per outlet. In WhereIsWhere’s pre-launch phase, malls and merchants may even avail of a referral programme, which entitles them to free marketing campaign credits after successfully inviting partners such as merchants or mall developers on board.

    Wisteria Mall and Old Chang Kee tap WhereIsWhere to drive traffic

    Prior to its official launch, WhereIsWhere has expanded its merchant and mall network with the on-boarding of Wisteria Mall and Old Chang Kee, one of Singapore’s most recognised household brands.

    “We see lots of potential in this mobile application and intend to work closely with WhereIsWhere to drive higher shoppers’ traffic and sales conversion for all our 80 outlets across the island,” said William Lim, Managing Director at Old Chang Kee.

    Andrew Tan, Director of Wisteria Mall Management, also said: “As a community mall with limited advertising budget, Wisteria Mall, along with its tenants, will be happy to adopt this innovative, cost-effective medium to reach out to our target audience within the primary catchment area.”

    Built by retailers for retailers

    WhereIsWhere is founded by tech entrepreneur Terence Mak. Joining Terence at the helm are retail industry veterans Michael Leong and Patrick Lum, who bring with them over 70 years of combined retail experience across Singapore, Malaysia and Indonesia.

    “As consumers shift to online and mobile, brick-and-mortar players should leverage new solutions to deliver exceptional experiences for discerning consumers,” said Michael Leong, Industry Advisor at WhereIsWhere. “Think of a mobile map app, but for shopping deals, businesses and activities nearby consumers want – that’s how WhereIsWhere aims to revolutionise the Singapore retail scene and consumer shopping behaviour.”

    Interested retailers and mall operators who wish to drive store traffic through WhereIsWhere may register their stores, activities and listings on whereiswhere.com.

  • POLESTAR Appoints August Wu As President Of Polestar China

    POLESTAR Appoints August Wu As President Of Polestar China

    Polestar, the new electric performance brand, has appointed August Wu as its new President of Polestar China, reporting to Polestar CEO, Thomas Ingenlath.

    August joins Polestar on 1 March 2018 from Volvo Cars in Shanghai where he held the position of Head of Product and Offer for the APAC region. In this role, he was responsible for local product, specification, pricing and vehicle line management of all Volvo products in the APAC region. Prior to this, he worked for Volvo in Sweden as Business Program Leader for the Volvo 60 cluster of cars and before that, held a number of automotive industry-focussed roles within McKinsey and Company.

    As President of Polestar China, August Wu’s responsibilities will include Polestar’s commercial offer in China, the development of the network of Spaces – the Polestar retail environment, as well as increasing Polestar’s brand awareness and consideration in the important Chinese market.

    “The appointment of August Wu as the new President of Polestar China is an important step in the development of our team in China. With China being one of the world’s fastest developing markets for electrified cars, it’s clear that having somebody with a very deep understanding of the market was vitally important. In August Wu, we have found that person,” said Thomas Ingenlath, Chief Executive Officer of Polestar.

  • Toys ‘R’ Us is said in talks to sell Asia unit to Fung Group

    Toys ‘R’ Us is said in talks to sell Asia unit to Fung Group

    Toys ‘R’ Us Asia may be taken over by to its local partner, the Fung Group.

    A deal could give Toys ‘R’ Us Asia a valuation of at least US$1 billion. The private holding company of Hong Kong’s billionaire Fung brothers is considering finding partners to join it in the purchase, and if a deal is reached the group may seek an IPO after one to two years, according to the source.

    The US company and some of its North American subsidiaries filed for bankruptcy in September, the Asian unit being excluded. Growth in Asia Pacific helped offset weak sales in the US and Europe in the quarter ended October 28. The company combined its Japanese business with the broader Asia venture last year, which now has more than 400 outlets throughout the region.

    Representatives for Toys ‘R’ Us and Fung Group have declined to comment on the possibility of the Asia business being offloaded.

    Separately, the UK arm of Toys ‘R’ Us is likely to start a court-led administration process this week after failing to secure new financing to meet a tax liability due this month. The business faces a £15 million ($21 million) value-added tax bill, and talks with potential buyers have fallen through in the past few weeks.

    Toys ‘R’Us Asia was set up in 1986. Fung Group is also the biggest shareholder in Li & Fung, a supplier to Wal-Mart Stores and other US retailers. KKR, Bain Capital and Vornado acquired New Jersey-based Toys ‘R’ Us in a $7.5 billion leveraged buyout in 2005. The company has more than 1600 stores and nearly 65,000 employees worldwide.

  • Longines Masters of Hong Kong

    Longines Masters of Hong Kong

    After a gripping competition over 1.6m obstacles, on a course etched out by internationally-renowned course designer Louis Konickx, French Patrice Delaveau, astride Aquila HDC, took top honors, ahead of second-placed Max Kühner of Austria on Cielito Lindo 2 by just 0.07 seconds in the jump-off, and Longines Grand Prix of Paris 2017 winner Daniel Deusser of Germany on Cornet D’Amour, who was in with the chance of a €2.25 million bonus if he’d also won in Hong Kong, in third.

    Juan-Carlos Capelli, Vice-President and International Marketing Director for Longines, who handed the Longines Grand Prix to the winner, along with an elegant Longines watch.

    With the crown of this evening’s Longines Grand Prix in hand, Dreelaveau has an excellent chance to collect the Grand Slam Indoor bonus of €1 million if he can win the Longines Grand Prix at the final leg of the current season of the Longines Masters Series, in New York, and follow it up with a win in Paris at the start of the 2018-19 season.
    “It was great today, and my horse was fantastic,” said victorious rider Delaveau, “I love it here in Hong Kong.”

    The other competition of the final day, earlier in the afternoon, the Masters One DBS, presented by new Official Partner DBS, featured a strong field competing over 1.45m obstacles. It was Great Britain Robert Smith who showed the determination and grit to come off victorious on 11-year-old gray gelding Cimano E, clocking a time of 57.17 seconds ahead of Christian Kukuk of Germany on Cordess, and Gerco Schröder of the Netherlands on Glock’s Debalia, who finished second and third respectively.

    Earlier in the day, Hong Kong’s own Nathaniel Chan and Lay Your Love On Z won the JETS Junior Trophy, a competition that gives local fans a chance to cheer for home-grown talents from the next generation as they aspire after high-level honors in a five-star international arena. The young hopefuls were put to the test on a specially designed course in a Grand Prix format across two rounds. Both rides counted, with the winner decided by the fewest penalties across both and the best time in the second.

    The success of the Longines Masters Series has also been recognized by experts, with an award of Best Live Experience at a Professional Sporting Event by the Sports Industry Awards Asia. The 2018 edition of the Longines Masters of Hong Kong has also confirmed its “M” Mark status helping to enhance the image of Hong Kong as Asia’s sports event capital. The “M” Mark, awarded by the Major Sports Events Committee, symbolizes intense, spectacular and signature event on the territory’s sports calendar.
    The glamor and elegance of the event were echoed in the Prestige Village, where sophisticated luxury lifestyle took center stage, shining the spotlight on contemporary art, champagne and wine tastings alongside numerous fine-food outlets, and late-night musical performances from MC RiverJaxx and DJ Jérémie Charlier.

    The Prestige Village was brought to life by a selection of suitably high-end exhibitors, among them Title Partner Longines, which displayed a collection of horological masterpieces in its elegant boutique; Official Partners DBS and Maserati, and an extraordinary collection of artistic masterpieces from Macey and Sons, including works by Cézanne, Turner, Constable and Ai Weiwei.

    “Our ambition has always been to give equestrian sports the most incredible international stage. The Longines Masters Series brings together the Best of Sports and the Best of Lifestyle, with the 3 iconic capitals for backdrop: Paris, Hong Kong, New York” said Christophe Ameeuw, CEO of EEM and Founder of the Longines Masters Series.

    And so, the curtain goes down on the Asian leg of Season III of the Longines Masters Paris – Hong Kong – New York. Attention now turns to New York, which hosts the third and final leg of the Longines Masters Series.

    The American stage presented by equestrian artist Clémence Faivre to the tempo of Amazing Grace, is set to break ground, taking up new quarters in 2018 in New York, at NYCB Live from April 26 to 29, 2018, unquestionably the world’s capital for business and lifestyle, and city that calls nothing impossible.

  • Thai coffee brand Inthanin to open first store in Cambodia

    Thai coffee brand Inthanin to open first store in Cambodia

    Thailand’s Inthanin coffee brand will roll out in Cambodia following the signing of a memorandum of understanding between RCG Retail (Cambodia) and Bangchak Retail.

    RCG plans to open more than 100 Inthanin cafes in Cambodia from next month until 2022.
    It will start with a flagship branch in Phnom Penh, followed by a second flagship in Siem Reap in April, says president Jiranun Wongmongkol.

    She says the company will then seek franchisees, with the average cost of applying for a licence and opening a branch being around US$200,000 (THB6.2 million). Each location will have about 20 staff members.

    Bangchak Retail MD Viboon Wongsakul says the Inthanin deal for Cambodia is part of its business plan to expand its business in CLMV countries (Cambodia, Laos, Myanmar and Vietnam).

    He says targeted average sales for Cambodia will be 300 cups of coffee a day for the first year. The company will supply coffee from Thailand directly to franchisees in Cambodia. As master franchisee, RCG Retail will source baked goods and other food to distribute through the coffee outlets.

    Jiranun says RCG Retail has already contracted with 20 Cambodian producers to distribute their products at Inthanin branches.

    Thai coffee firm Amazon Coffee, owned by PTT, has already expanded its franchise business into Cambodia.

  • Is Asia changing its way of thinking about food?

    Is Asia changing its way of thinking about food?

    More people are eating today than yesterday. The majority of these people live in Asia, a continent which has an intense cultural connection to food. Securing a better way to feed Asia’s growing population is what motivates JUST CEO Josh Tetrick to challenge the status quo of the food industry.

    Tetrick, 37, sees Asia as the tip of the spear to fix the world’s broken food system.

    “We need to answer the question of how can we produce enough food for a planet which will see 70 percent growth in food demand between now and 2050,” says Tetrick, whose company has attracted high-profile investors such as Hong Kong business magnate Li Ka-shing.

    One of the fastest growing segments of the $8 trillion global food and agricultural market is the multi-billion dollar egg industry. China produced over 30 percent of the 1 trillion eggs that were laid last year which has raised numerous environmental concerns on the continent. To disrupt this, Tetrick introduced Just Scramble at the flagship location of Green Common, a plant-based dining and shopping store that has chains across Hong Kong. Just Scramble is made from mung bean which is one of Asia’s most familiar beans. It looks and tastes just like an egg, it is high in protein, has zero cholesterol and sold over 800 orders of “Just Scramble Teriyaki” and “All Day Just Scramble” in the first six days.

    Just Scramble requires less water and emits fewer carbon emissions than conventional eggs, but Tetrick knows that this does not drive consumers. “I think far less than 1 percent of the 7.4 billion people on earth are driven by the environmental benefit of plant-based food. People just want to feed their family with something they have confidence in. They want food that tastes amazing and makes them feel amazing,” says Tetrick.

    Green Common founder David Yeung is redefining the whole experience of selling plant-based products. “The product has to be good, innovative and fit the brand. If so, we can make foreign brands become an overnight success,” says Yeung “We know what people crave in Hong Kong, that makes us so valuable to translate these products for the Asian palette.” Green Common is already seeing great sales from the American made Beyond Burger, the world’s first plant-based burger that looks, cooks, and tastes like a fresh beef burger. Providing an option for consumers to tweak their habits is what both CEOs believe will lead to wholesale change.

    Yeung is confident Hong Kong can serve as a gateway into mainland China and the rest of Asia. Yeung believes China is desperate for a healthy brand people can trust, and is using the Starbucks strategy to expand. “For 5,000 years China never drank coffee. Now, after Starbucks sold it as a lifestyle, there are over 2,500 Starbucks in mainland China. That is not supposed to happen, but Starbucks became people’s second living room,” Yeung said.

    Yeung’s goal is not to open a thousand Green Commons in Hong Kong but rather grow business to business in order to make impactful change throughout Asia. By introducing plant-based options through restaurants and catering companies, an entire office building, school, or hospital can drastically reduce meat consumption. By doing this, a fair market is being created where people from all demographics have access to sustainable foods.

    Josh Tetrick also envisions a world where everyone is enjoying “just” food, but he knows they cannot do it alone either. “I want to inspire other companies to do this,” Tetrick continued “For the institutions and the companies, who are thinking about what’s next? Take a look at food, because we need help and Asia needs help. But we can’t wait, we have to do it now.”

    Much of the energy surrounding the plant-based movement in Hong Kong started in 2011 when Sonalie Figueiras began the personal blog Green Queen which quickly turned into a trusted media source for healthy eating.

    From this loyal following, Figueiras co-founded Ekowarehouse, the world’s first online global trade platform for sourcing certified organic products and is now available in over 140 countries. “We want to become the Alibaba of organic food, and connect the organic world,” said Figuerias. “Here in the East, the sustainable conversation does not work. Personal health and safe eating for children is the conversation we need to have moving forward.”