Retail News CRM

Author: Mei Ling Tan

  • Sa Sa International looking good, thanks to tourists

    Sa Sa International looking good, thanks to tourists

    Stronger store traffic drove overall sales for cosmetics retailer Sa Sa International for its third quarter to the end of December.

    This was in line with expectations, says the company.

    Total transactions increased by 5 per cent year on year to 5.1 million, while the number of transactions with local and mainland tourists grew 6.6 and 4.1 per cent respectively. The average transaction value also rose, by 4.2 and 2.8 per cent (to reach $367) respectively.

    The group’s total turnover grew by 6.5 per cent to HK$2.2 billion (US$281 million), led by Hong Kong and Macau where the growth was 8.1 per cent to reach $1.8 billion, while same-store sales increased by 3.7 per cent.

    Overall retail sales and same-store sales had 9.5 and 5.6 per cent growth respectively during December.

    Turnover in Mainland China, Singapore and Malaysia grew 13, 3.6 and 3.9 per cent respectively, while the turnover for Taiwan and e-commerce dropped by 5.5 and 21.9 per cent.

    Total turnover for the nine months to the end of December was $5.9 billion, up 3.4 per cent. For Hong Kong and Macau the figure was $4.8 billion, up 4.5 per cent.

    Same-store sales were flat for the nine months, while the average sales per transaction rose 3.3 per cent for to $343. There were 14 million transactions, up 1 per cent.

    At the end of December the company had 290 stores, no change from a year previously. However, the number of stores increased in Hong Kong and Macau (from 115 to 119), while there was a drop in Singapore (from 21 to 19) and in Taiwan (from 25 to 21). China and Malaysia had no change with 56 and 73 stores respectively.

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  • Toyota, Mazda to build $1.6 billion plant in Alabama

    Toyota, Mazda to build $1.6 billion plant in Alabama

    Alabama will be the site of a new $1.6 billion Toyota Motor Corp and Mazda Motor Corp auto plant, a victory for President Donald Trump who had prodded manufacturers to build new U.S. facilities and threatened tariffs on foreign production, sources said on Tuesday.

    The plant, which will employ up to 4,000 people and produce about 300,000 vehicles a year, will be located in Huntsville, Alabama, and is a boon for the state, where Toyota has a large engine plant and an existing network of automotive suppliers.

    A formal announcement by company and state officials is expected on Wednesday in Montgomery, sources briefed on the matter said.

    The new plant –in a state Trump won by 28 points in 2016 — could be a political boost to the Republican president, who has urged automakers to build plants in the United States and add jobs. The companies said they expect the plant to open in 2021.

    Trump tweeted in March he wanted “new plants to be built here for cars sold here.” The White House did not immediately comment on Tuesday.

    The announcement also comes at a time of declining U.S. auto industry sales, so it could exacerbate overcapacity and add pressure to cut prices. U.S. new vehicle sales fell 2 percent in 2017, after hitting an all-time record high in 2016, and are expected to fall further in 2018.

    Details of an anticipated tax and incentive package for the investment were not yet known. It has been reported the companies sought at least $1 billion in incentives.

    A Toyota spokesman declined to comment, except to say an announcement was expected soon. A Mazda spokeswoman also declined to comment.

    In recent months, the companies had narrowed their choices down to sites in Alabama and North Carolina.

    Local media last month said the leading site under consideration was in northern Alabama’s Limestone County, near Toyota’s large engine plant in Huntsville. In September Toyota announced a $106 million technology upgrade for the Huntsville plant.

    A Chamber of Commerce of Huntsville website for the “Huntsville Mega Site” touts the fact it has been “certified as development-ready.” The commerce chamber, local and state officials declined to comment on Tuesday on plans for the plant.

    A year ago, President-elect Trump criticized Toyota and threatened hefty tariffs against the Japanese automaker if it built its Corolla sedan for the U.S. market in Mexico.

    “Toyota Motor said will build a new plant in Baja, Mexico, to build Corolla cars for U.S. NO WAY! Build plant in U.S. or pay big border tax,” Trump posted on Twitter in early 2017.

    Toyota and Mazda announced plans for a new plant in August. Toyota said it would shift production of Corollas from Canada to the new venture rather than in Guanajuato, and would build Tacoma pickups in Mexico instead. Mazda plans to build new crossover SUVs at the plant.

    Trump praised the joint venture announcement, saying in August on Twitter: “Toyota & Mazda to build a new $1.6B plant here in the U.S.A. and create 4K new American jobs. A great investment in American manufacturing!”

    In October, Toyota said it would scale back investment in a planned plant in Mexico by 30 percent to $700 million and cut planned annual capacity in half to 100,000 vehicles as it shuffles its production plans to meet market demands.

    Toyota has 10 U.S. plants in eight states in an arc running from West Virginia through Kentucky, Indiana, Alabama, Mississippi and Texas.Toyota and Mazda announced a capital alliance in August and are exploring joint development of technologies for the basic structure of competitive electric vehicles.

    Over the last 30 years Toyota, along with German and Asian automakers, has built a second auto industry in the United States, rivaling the operations of the Detroit Three automakers in size and employment, but with newer, and fewer unionized, plants.

    States covet auto assembly plants because they typically pay above-average wages and spin off jobs at suppliers and service companies. Southern U.S. states have the advantage of good transportation infrastructure, business-friendly regulators and generally anti-union politicians.

    The Alabama Department of Commerce shows 150 of the large automotive suppliers operate in the state, providing the logistical strength that Kristin Dziczek, a researcher at the Center for Automotive Research in Michigan, said helped land the plant.

    Dziczek said that Alabama in 2017 was tied for fifth among U.S. states in auto production, at 9 percent with Tennessee. It was behind Michigan at 19 percent; Indiana at 12 percent, Kentucky at 11 percent; and Ohio at 10 percent.

    “The impact of an auto assembly plant extends beyond its immediate economic impact, and that’s why states offer robust incentives,” said Dennis Cuneo, a site-selection consultant and former Toyota executive. “It creates a halo effect that in turn helps attract other projects.”

    Alabama spent an estimated $250 million to woo Daimler AG’s Mercedes-Benz to put an auto plant in Tuscaloosa two decades ago.

  • Jollibee Foods to try Guam after a decade withdrawal

    Jollibee Foods to try Guam after a decade withdrawal

    Filipino fast-food giant Jollibee Foods plans to re-enter Guam this year after pulling out more than a decade ago as the islands went through an economic downturn.

    Jollibee Foods assistant VP/head of international franchising Maxi Peralata Jr says it will open a restaurant in a strategic location in the fourth quarter, near Marine Corps Drive and Route 16/Army Drive in Dededo.

    The outlet will be built within the Micronesia Mall compound, but this has not been confirmed by the mall’s management.

    Peralta says a franchisee has been appointed. He has not disclosed the franchisee’s identity but says their partner has business interests in Guam and the Philippines.

    Jollibee had two franchised restaurants on Guam and two on Saipan, but its Marianas presence ended with the economic downturn. Jollibee also had trouble competing with Guam players offering larger portions.

    Internationally, Jollibee has 139 stores – 72 in Vietnam, 32 in the US, 19 in the Middle East, 13 in Brunei, two in SIngapore and one in Hong Kong.

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  • The Macallan targets Indian travellers at Dubai Airport

    The Macallan targets Indian travellers at Dubai Airport

    A recent Diwali-themed activation held by Edrington Europe, Middle East & Africa Travel Retail in partnership with Dubai Duty Free has resulted in a +107% sales uplift in store for The Macallan.

    The activation is the first phase of Edrington’s strategy to drive single-malt recruitment and premiumisation among Indian travellers – traditionally known as blended whisky drinkers. The Macallan is the first single-malt to actively target Indian passengers at Dubai Duty Free during Diwali, said the company.

    Traditionally known as blended whisky drinkers, Indian travellers represent a huge opportunity for the single-malt market

    The ‘Celebrate Diwali With The Macallan’ campaign placed the single malt on promotional pedestals in the centre of Dubai Duty Free’s Concourse B East and West stores, each with a sales consultant on hand to advise.

    Diwali-2-2-e1515768193699-39e9736e149ea751a9901577d393518a25a9baf9

    The campaign’s visual identity centred on the peacock – a symbolic animal in Hindu mythology also used to represent ‘Natural Colour’ – one of The Macallan’s Six Pillars. Premium gift bags featuring the campaign imagery and slogan were offered to customers making a purchase.

    The concept was tested and adapted through research in key Indian cities – Delhi, Mumbai and Bangalore – and in Dubai. India is the number one destination country from Dubai in terms of passenger volume, with over 1 million travellers in August 2017, and Mumbai the number three destination city.

    “India is a market packed with potential; its rapid economic growth and burgeoning middle classes present a major opportunity for us to not only foster single malt consumption in a traditionally strong blended whisky market, but also to drive premiumisation by leveraging the power of The Macallan brand,” said Edrington Middle East & Africa Travel Retail Commercial Manager Florence Chevallier.

    “This Diwali activation was the first stage in our long-term strategy to ‘win India’ through an insight-driven approach, executed at key airports in close partnership with our retail partners.”

    Dubai Duty Free Senior Vice President-Purchasing Saba Tahir commented: “To have a brand with the prestige of The Macallan spearheading the single malt category’s growth amongst the key Indian demographic is extremely exciting. The premium appeal of this activation, combined with the strong gifting elements clearly resonated with shoppers and delivered exceptional initial sales results.”

  • Say Chiizu stretchy cheese toast opening outlets across Singapore

    Say Chiizu stretchy cheese toast opening outlets across Singapore

    Thailand’s Say Chiizu cheese toast is stretching all the way to Singapore, with takeaway kiosks being set up at four malls next week.

    Its cheese is made on the company’s own farm in Thailand which has cows and machinery imported from Japan, hence its main product being called Hokkaido cheese toast. Its special formula combines three types of cheese to produce its special taste and super-stretchable texture.

    Its Hokkaido milk toast comes in five flavours: charcoal, chocolate, strawberry, matcha and original.

    As well as its toast, Say Chiizu offers snacks such as Pizza Cheese Fries, BBQ Pull Chicken/Pork Cheese Fries, Cheese Fries and Classic Fries.

    Its drinks line-up includes yuzu, matcha, strawberry and peach cheese teas.

    Say Chiizu’s first outlet opens at VivoCity on Monday, followed by 313 @ Somerset on Tuesday, White Sands Shopping Centre on Wednesday and The Clementi Mall on Thursday.

    The brand is aiming to open 10 outlets in SIngapore by the end of the year, including a sit-down cafe at Bugis next month.

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  • Pizza parlor chain plans expansion for 2018

    Pizza parlor chain plans expansion for 2018

    Following a “banner year”, Shakey’s Pizza Asia Ventures (SPAVI) plans to add 20 restaurants to reach a total of 228 outlets by year end.

    In a disclosure to the Philippine Stock Exchange, the family-led company says it opened 24 stores last year, exceeding its target of 20.

    “It has been a banner year for Shakey’s – our maiden year as a publicly listed company – as this is the fastest we’ve grown in terms of store network,” says president Vicente Gregorio. “We are keeping pace with the accelerating growth of our economy.”

    He says Shakey’s aims to open stores in areas outside of first-tier cities. It opened restaurants in provincial locations last year including Iligan, Puerto Princesa, Antique, Gapan, and Palo, Leyte.

    “As Filipinos are now looking for more premium dining experiences, we are driven by our mission to consistently ‘wow’ them. This includes upgrading our look, launching innovative products and emphasising quality service,” says Gregorio.

    Earlier, the company said its plans were to reach a total network of 500 local and overseas restaurants in the next five years, to be funded by internally generated cashflow alongside proceeds from its public offering.

    Established in California in 1954, Shakey’s business in the Philippines is now bigger than in the US. In fact, the Philippine market is the brand’s largest market. The Philippine company is independent after acquiring the brand’s trademark and intellectual property rights, and also owns perpetual rights for the brand for the Middle East, Asia (excluding Japan and Malaysia), China, India, Australia and New Zealand.

    The company’s recurring net income for the first nine months of last year grew by 15 per cent year-on-year to PHP519 million (US$10.3 million) on higher sales. System-wide sales rose by 15 per cent to PHP6 billion, driven by same-store sales growth of 6 per cent and the increase in store numbers.

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  • LV chooses Korea for the launch of its new menswear collection

    LV chooses Korea for the launch of its new menswear collection

    French luxury brand Louis Vuitton has chosen Korea for the launch of its new collection for men.

    The new SS18 menswear and bags will be available in Shinsegae Department Store from 19 January, and Louis Vuitton men’s exclusive store in Seoul from the 10 January 2018.

    Louis Vuitton said the collection is pre-sold at seven stores in seven countries with maily trend-conscious consumers.

    Louis Vuitton selected 7 countries to introduce its new menswear collection, namely Korea, France, the United States, Japan, China, Hong Kong and Singapore.

    In each country, the brand selected one store to represent the brand, and pre-release the collection.

    This new product reflects the design inspired by famous islands around the world with the subject of ‘luxury island hopping’.

    Leather goods, clothing, shoes, accessories, including the Monogram Reflective Keypole Bag, which was first unveiled in the menswear collection in Paris last June, are all available in the selected stores.

    Kim John, Artistic Director of the Louis Vuitton Men Collection Design said “this collection has been designed with a special reminder of beautiful islands such as New Zealand, Easter Island and Hawaii,” and “Travel and Island, where different cultures and identities can be experienced, that is where I got the idea from.”

    Meanwhile, Louis Vuitton store specializing in menswear was opened on the sixth floor of Shinsegae Department Store’s main branch in Seoul. The department store has accommodated a renovated store featuring women’s collections as well on the ground floor.

    Other Louis Vuitton stores can only be found at Saks Fifth Avenue in New York, Harrods in London, and Shin Kong Place in Beijing, as well as Shinsegae Department Store’s Gangnam branch stores having also womenswear.

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  • Red Wok invests in Quan Ut Ut chains

    Red Wok invests in Quan Ut Ut chains

    Vietnam’s F&B group Red Wok has invested in Quan Ut Ut Barbecue, which owns the American-style restaurant of the same name as well as craft-beer brand BiaCraft.

    Red Wok will support Quan Ut Ut with business services, technology and marketing management with the aim of helping it to expand. The level of investment has not been disclosed.

    Backed by Mekong Capital, Red Wok plans to invest in small-scale dining chains, with fewer than 10 restaurants, over the next three years. It so far has interests in Wrap & Roll, Cuon Viet and Lau Bo Sai Gon Vivu, which has 25 locations nationwide and six franchised outlets in Singapore and Shanghai.

    Founded in 2014, Quan Ut Ut Barbecue has four branches in Ho Chi Minh City.

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  • Global Electric Vehicle Market to Reach 10.8 Million Units by 2026

    Global Electric Vehicle Market to Reach 10.8 Million Units by 2026

    Increasing global concerns regarding the negative effect of climate change along with alarming pollution levels recorded in the major cities have created a demand for electric vehicles. A major factor behind the growth of electric vehicles is the support provided by various governmental agencies to encourage the sale of these vehicles.

    Furthermore, the well-established road infrastructure network has further aided the market for these vehicles, with charging points available more frequently on the civilian roads. Today, electric vehicles have transformed from an experimental mode of vehicle to a necessity, with automakers worldwide putting in efforts to make EVs available in all the economic ranges. This is evident from the meteoric rise in its sales over the last five years, with over 2 million electric vehicles on the road at present, as compared to a few thousands back in 2012.

    With number of initiatives and product developments taking place, it won’t be long before EVs occupy a significant share of the global automotive market. The market in terms of volume is estimated to witness growth at a CAGR of 28.3% over the period of 2017 to 2026. The report is a compilation of various segmentations including market breakdown by propulsion type, component type, vehicle type, and different geographical regions.

    The report provides a detailed market analysis and forecast with respect to different propulsion types in the electric vehicles market which are Battery Electric Vehicle and Plug-in Hybrid Electric Vehicle (PHEV). On the basis of component, the electric vehicles market is segmented into battery, motor, and regenerative brake. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different vehicles that are analyzed, which include passenger and commercial vehicles.

    The report addresses the following key questions about the global electric vehicles market:
    • What is the global electric vehicles market size in terms of volume in the period 2017-2026?
    • Which is the dominant propulsion type by volume for the global electric vehicles market?
    • Which is the dominant vehicle by propulsion type in terms of volume in 2016?
    • What is the revenue generated by the different components in the global electric vehicles market in the period 2017-2026?
    • What is the revenue generated by the different components for different propulsion type in the global electric vehicles market in the period 2017-2026?
    • Which vehicle type will lead by volume in the global electric vehicles market by the end of the forecast period?
    • What are the different factors driving the market forward in the forecast period?
    • What are the major factors challenging the growth of global electric vehicles market?
    • Which type of new strategies are being adopted by the existing market players to make a mark in the industry?
    • Which region will lead the global electric vehicles market by the end of the forecast period?

    The report includes an exhaustive analysis of the geographical split into North America (the U.S and Canada), Europe (Germany, the U.K, France, Netherlands, and Norway), and Asia-Pacific (China, Japan, and South Korea). Analysis of each of the geographical regions details the individual push and pull forces in addition to the key players from that particular region.

    The report examines the role of the leading market players involved in the industry. The company profiles section includes highlights of significant information about the key companies involved, along with their financial positions, key strategies & developmental activities of recent years (2014-2017).

    Some of the key players are Tesla Inc. (U.S.), BYD Company Limited (China), Volkswagen AG (Germany), Nissan Motor Corporation (Japan), and Mitsubishi Motors Corporation (Japan). EV components manufacturers such as Samsung SDI (South Korea), Automotive Energy Supply Corporation (Japan), LG Chem. (South Korea), Panasonic Corporation (Japan), and Continental AG (Germany).

    Executive Summary
    The automobile industry is one of the fastest-growing industries in the manufacturing sector. Intense global competition along with consumer preference driven innovation have been crucial factors driving the industry.

    However, the growing demand of and subsequent increase in the number of vehicles have contributed majorly to the depletion of non-renewable resources and deterioration of the earth’s atmosphere. A steep rise in the conventional fuel vehicle sales along with global population and urbanization has brought with it some serious concerns such as global warming and alarming pollution levels. There are innumerable issues that are plaguing the planet and the natural resources (especially fossil fuels) are declining at a rapid pace.

    This has consequently led the governments, environmental agencies, and automobile manufacturers to develop modes of transport that run on alternate means. Electric vehicles are considered the most desirable option of all the alternative forms of vehicles. The support of the governments of various nations and revolutionary developments by the automakers can be credited for the growing prominence of Electric Vehicles in the automobile industry.

    Several countries have pledged to ban the sale of gasoline-powered vehicles within the next two decades, with many others to follow. The Electric Vehicle Initiative launched in 2010 by some of the major countries across the globe is one of the many initiatives undertaken that are accelerating the growth rate of the market for EVs on a global scale.

    The report defines and estimates the market size in terms of volume and the section on electric vehicle components market size has been provided in terms of value. The global electric vehicles market is estimated to reach 10,761.42 thousand units by 2026. The market is driven by a number of factors such as stringent governmental regulations in terms of emissions and fuel economy, growing demand for fuel efficient vehicles, and governmental initiatives such as tax benefits and subsidies to promote the sales of electric vehicles. However, there are certain challenges which are inhibiting the overall growth for the global electric vehicles market such as high initial cost and time required to charge the electric vehicles.

    The global electric vehicles market has been fundamentally benefiting from the changing paradigms in governmental regulations and increasing environmental awareness among the consumers. BEVs held the highest market share in 2016 in terms of volume and is expected to grow at a higher growth rate as compared to PHEV.

    BEVs produce no pollution when being driven, as there is no gasoline interaction which means tailpipe pollution is zero. Factors such as improved charging infrastructure, governmental initiatives, and increased range are expected to propel the market growth for BEVs.

    Battery held the maximum share in the market and accounted for 68.8% share in 2016. Battery is the most important component of an electric vehicle and is used to power the main propulsion system.

    While a battery serves as the primary source of power in Battery Electric Vehicles (BEVs), it works in tandem with a combustion engine in PHEVs and other conventional hybrids. The battery makes up substantial cost of an electric vehicle owing to its high price.

    The electric passenger cars held the highest share in the market in 2016 in terms of volume and is also expected to grow at a higher rate as compared to commercial vehicles. Factors such as governmental initiatives, urbanization, and increasing disposable income is responsible for such a gigantic share of electric passenger cars. A major factor expected to play the key role in the development of passenger electric vehicles is the development of adequate road infrastructure for easing the adoption of these vehicles.

    This report also covers the global electric vehicles market, by geography and consequently provides the volume of the key regions which include North America, Europe, and Asia-Pacific (APAC). APAC dominated the global electric vehicles market by volume in 2016.

    The APAC automotive electric vehicles market is mainly dominated by the South Asian countries comprising of some of the biggest automotive producers in the world. The automotive market in the APAC region is growing rapidly, and the development of electric vehicles is gaining attention due to a collective effort from the government and manufacturers to initiate reforms and develop technologies which will promote the sale of these vehicles and make them economically efficient to use.

    Some of the key players in the electric vehicles market are Tesla Inc. (U.S.), BYD Company Limited (China), Volkswagen AG (Germany), Nissan Motor Corporation (Japan), and Mitsubishi Motors Corporation (Japan). EV components manufacturers such as Samsung SDI (South Korea), Automotive Energy Supply Corporation (Japan), LG Chem.

    (South Korea), Panasonic Corporation (Japan), and Continental AG (Germany). These companies are aiming for an increased number of product launches and collaborations to expand their operations and prevent new companies from becoming potential future competitors.

  • Puma Parents Announces Plan To Sell 70% Of Its Stake

    Puma Parents Announces Plan To Sell 70% Of Its Stake

    Luxury fashion brand owner Kering says it will sell off the majority of its Puma stake.

    Under the plan, Kering will reduce its 86 per cent holding in the German athletics-wear label to 16 per cent, the remaining 70 per cent of stock distributed proportionally to Kering shareholders.

    While Puma has proven successful under Kering’s ownership, the Paris-headquartered company wants to shift its focus to what it sees as its core business – luxury brands like Gucci, Balenciaga and Stella McCartney, and a growing focus on watches and jewellery.

    “With Puma’s unique DNA, heritage of innovation and creativity, the ongoing successful implementation of its “Forever Faster” transformation plan has started to deliver results,” said Kering in a statement.

    “The brand is enjoying strong revenue growth momentum and achieving an improvement in its profitability. Furthermore, Puma’s management team is fully committed to pursue its successful strategy, and continue to deliver the growth and profitability potential of the brand.”

    “We are very pleased that Kering has proposed this way to reduce its stake in Puma, said Bjørn Gulden, CEO of Puma. “It would allow us to continue with our current business strategy that has started to show good results. We would be able to carry on to invest in becoming the Fastest Sports Brand in the world, create value for retailers, improve performance for athletes and excite consumers.

    “Puma would become much more attractive for investors as our shares would have a substantially higher free float and larger trading volumes. Kering and [Kering’s largest shareholder] Artémis, however, would remain strong partners and shareholders, which proves that they believe in our strategy and Puma’s future success,” said Gulden.

    The Puma stake divestment will be voted on by Kering shareholders on April 26.

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  • Ace Turtle, CEVA to enable freight forwarding for international brands in Southeast Asia

    Ace Turtle, CEVA to enable freight forwarding for international brands in Southeast Asia

    Ace Turtle, Asia’s omni-channel platform company, has partnered with CEVA Logistics to manage global freight forwarding for International brands that Ace Turtle will power through its cross border solution in Southeast Asia.

    Ace Turtle, with its proprietary platform Rubicon which integrates offline and online channels automating and optimising Omni-channel fulfilment for brands will also be enabling cross border commerce solutions for international brands. Ace Turtle’s Cross Border solution will enable brands to reach new customers in newer geographies where the local customers can shop within the same ecosystem of e-commerce which they are used to.

    CEVA will handle international air-freight service, local transportation in origin and destination countries and manage custom clearance for the international brands. Under the agreement, CEVA will provide international freight forwarding services for the following countries, US – Singapore, China – Singapore, China – India, India – Singapore, India – Malaysia, and subsequently from Europe to APAC region.

    Speaking on the partnership, Nitin Chhabra, CEO, Ace Turtle said, “In Southeast Asia, cross border e-commerce has a significant contribution in the total e-commerce sales. With the launch of Cross Border solution, our solution is now complete for Southeast Asia. Through our platform, brands will be able to expand their reach in Southeast Asia. Our partnership with CEVA is a step towards this direction, as we envisage in providing high class logistic service to enable cross border business for international brands in Southeast Asia.”

    Elaine Low, executive vice president, SEA, CEVA Logistics said, “We are excited to partner with Ace Turtle in their e-commerce journey, providing logistics solutions including freight management and cross border trucking across Southeast Asia and other regions. We are confident that CEVA’s commitment to operational excellence coupled with Ace Turtle’s technology will increase service delivery quality to all their customers. We look forward to a partnership that creates more value and efficiency in a growing e-commerce market.”

    Backed by Singapore based Vertex Ventures and C31 Ventures, the venture capital arm of Capitaland, Ace Turtle’s technology helps in drastically reduce the costs and complexity of Omni-Channel transformation for enterprise retail clients by using the existing framework of their legacy system.

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  • Exploring the Chatuchak market easier with newest launched app

    Exploring the Chatuchak market easier with newest launched app

    Bangkok’s Chatuchak weekend market has launched a mobile app as a guide to its 8000 shops and restaurants.

    The Chatuchak Guide also offers special offers, promotions and discounts.

    Developed by Digital Ventures, a subsidiary of Siam Commercial Bank, in collaboration with State Railway of Thailand, the app aims to provide the market’s retailers with an online presence to attract both local and international shoppers.

    App users can search for shops by name or type, while a “live” map helps prevent users becoming lost in the market as well as find the shop they want to visit. They can also set up a shopping map by placing pins on shops they want to visit, or they can explore using the app’s recommendations.

    Other features include The Spirit of Chatuchak, a video featuring each shop in the historic market, plus information on where to find toilets, meeting points, ATMs and other services. There is also the Flash Sale & Promotion section with special offers and discounts.

    The app can be downloaded for use on both Android and iOS, and is available in English, Chinese and Thai.

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  • Vietnam to celebrate its new retail sales highest record US$129 billion

    Vietnam to celebrate its new retail sales highest record US$129 billion

    Spurred by a rising middle class and influx of international retailers, Vietnam retail sales hit a record US$129.6 billion last year.

    This was growth of 10.9 per cent over 2016, according to the Vietnam General Statistics Office (GSO).

    Vietnam’s largest real estate company, Vingroup, starting expanding its Vinmart Plus convenience store chain in 2016 and has already topped 1000 stores – it opened 100 last month alone. It is predicted the store network could reach 3000 this year.

    Meanwhile, Vietnam last year saw the arrival of a slew of foreign retail brands, headed by Japan’s Seven & I Holdings opening its first Vietnamese 7-Eleven convenience store in Ho Chi Minh City in June.

    Swedish fast-fashion brand H&M followed in September with a store in the same city, while Zara, the chain of Spanish rival Inditex, opened its second Vietnam location in Hanoi in November (its first store, covering two levels, launched at Vincom Centre Dong Khoi in Ho Chi Minh City in September 2016).

    Thailand’s Central Group has made several acquisitions in Vietnam, including the Big C supermarket chain and electronics retailer Nguyen Kim Trading. It also launched its first stationery and office supplies store in Vietnam last year.

    South Korea’s GS Retail partnered with Vietnam’s Son Kim Group 12 months ago to open the first of their convenience stores in Ho Chi Minh City this month. They plan to open 2000 locations within 10 years.

    Double-digit growth

    Since joining the World Trade Organisation in 2007 and opening up to foreign goods and businesses, Vietnam has seen continued double-digit growth, led by a 31.5 per cent spike in 2008. With the Association of Southeast Asian Nations Economic Community taking full effect this month, Vietnam has eliminated nearly all tariffs on goods from within the region.

    Meanwhile, supermarkets and convenience stores are selling meat and vegetables at prices that are 20 to 30 per cent higher than at traditional markets, and the number of specialty shops selling organic vegetables is growing.

    Spending on cars, home electronics and other consumer durables is also brisk, with 70 per cent of Vietnam’s GDP coming from personal consumption.

    The GSO says auto sales grew by 14 per cent in value, gemstone and precious metals by 13.2 per cent, food and foodstuffs by 11.1 per cent, cultural and educational products by 10.2 per cent, apparel by 9.6 per cent, and home products by 8.5 per cent.

    Vietnam still has room for growth as modern retail channels like supermarkets and shopping centres account for only a quarter of total retail sales, and most of these businesses are in big cities, reports VIetnamNet. By 2020, the proportion of modern retail channels is forecast to rise to 45 per cent.

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  • Santander and JD.com to support UK brands expanding into China

    Santander and JD.com to support UK brands expanding into China

    Santander UK has partnered with Chinese retailer JD.com to give British brands access to China’s massive retail and consumer market.

    As part of the agreement, small and medium-sized business customers at Santander with turnover of at least £10 million and international trading experience will be able to launch stores on JD.com, which is known as one of China’s largest B2C online retailers.

    The online marketplace has a customer base of over 266 million people, and its extensive delivery network has attracted top European and American brands. Luxury brand Saint Lauren was the latest to join the platform this week as it announced its launch on JD.com’s Toplife.

    The Santander/JD announcement comes after the signing of a Memorandum of Understanding in July 2016.

    Deputy general manager of JD.com worldwide Kaisi Li commented: “This partnership with Santander opens up many more opportunities to small and medium-size enterprises across the UK. Demand for imported products in China is strong and growing rapidly, and we’re excited to work with Santander to enable more UK-based brands to benefit from the growth of this huge market.”

    JD rival ecommerce site Alibaba features brands such as Burberry, Hugo Boss and Gucci.

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  • Nordstrom Ends Rocky Year With Modest Holiday Sales Growth

    Nordstrom Ends Rocky Year With Modest Holiday Sales Growth

    Department store chain Nordstrom has seen a boost in sales during the holiday season buoyed by greater consumer confidence, lower unemployment and e-commerce growth.

    Nordstrom posted a 2.5 per cent increase in net sales and a 1.2 per cent increase in same store sales for the nine weeks ending December 30, 2017 compared to the previous corresponding period.

    For the Nordstrom brand, including US and Canada full-line stores and Nordstrom.com, net sales when combined with Trunk Club, increased 0.7 per cent and comparable sales increased 1.0 per cent. In the Nordstrom Rack brand, which consists of Nordstrom Rack stores and Nordstromrack.com/HauteLook, net sales increased 8.2 percent and comparable sales increased 2.9 per cent.

    Based on holiday results, the company has updated its fiscal 2017 expectations for an increase in net sales of approximately 4.2 per cent, inclusive of the 53rd week, and an increase in comparable sales of approximately 0.5 per cent.

    The retailer announced it is expecting full-year earnings per diluted share to be in a range of $2.90 to $2.95, compared with its prior outlook of $2.85 to $2.95.

    The company is scheduled to report its fourth quarter and full-year 2017 financial results after the close of the financial markets on March 1.

    Nordstrom has also recently announced the president of its Rack brand, Karen McKibbin, will retire in March.

    McKibbin joined Nordstrom in 1985 and has held many leadership roles within the company, including president of Nordstrom Canada, where she led the first-ever international expansion of Nordstrom’s full line stores.

    “We are indebted to Karen for the many contributions she’s made over her more than 30-year career with Nordstrom,” said Blake Nordstrom, co-president of Nordstrom, Inc. “During her long tenure, Karen brought great depth of experience to her various roles including president of Canada, president of Nordstrom Rack, and a member of the Executive Team. Her leadership will be missed across the company and we wish her all the best in her next endeavor.”

    Geevy Thomas, chief innovation officer, will succeed McKibbin.

    Thomas, who joined Nordstrom in 1983, has held numerous senior leadership positions throughout the organisation and served as president of Nordstrom Rack from 2010 to January 2017.

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