Author: Mei Ling Tan

  • Fenix Outdoor Accelerates International Omnichannel Expansion  with Manhattan Associates

    Fenix Outdoor Accelerates International Omnichannel Expansion with Manhattan Associates

    Fenix Outdoor Group, a subsidiary of Switzerland-based outdoor goods specialist Fenix Outdoor International AG, has selected Manhattan Associates, Inc. to underpin its international, omnichannel growth strategy. Fenix Outdoor Group will standardise its order fulfilment operations on the Manhattan SCALE™ solution with initial deployments in its distributions centres in the U.S. and Germany, followed by the Netherlands, Norway, China and Australia.

    Fenix Outdoor Group develops and markets high-quality, low-weight equipment and clothing for outdoor activities under its Fjällräven, Tierra, Primus, Hanwag and Brunton brands, and sells through a combination of its own stores, retail partner stores and a growing online operation. The company’s major markets include North America, Germany and the Nordics.

    Established in the 1950s, Fenix Outdoor has grown organically and through a series of acquisitions. Its 2015 purchase of Globetrotter, a German retail group, transformed the company from a predominantly wholesale-oriented business to a multi-channel commerce operator. The multiple, disparate systems it had inherited over the years were, however, hindering its further development. Fenix Outdoor therefore opted for a new warehouse and distribution management solution to optimise its expanded business operation and to support its broader international and omnichannel growth ambitions.

    Marcel Gerrits, Global Supply Chain Director at Fenix Outdoor Group, commented, “With today’s consumers requiring exceptional shopping experiences, we are building our capabilities to provide a ‘best in class’ omnichannel experience – offering our customers the goods they want, whenever and wherever they want them. We selected Manhattan as our chosen partner on this journey for its unmatched omnichannel commerce experience and its SCALE solution that allows us to serve multiple channels from a single inventory pool. It also has on-the-ground support teams in all the geographies where we will deploy.”

    Pieter Van den Broecke, Managing Director Benelux and Germany at Manhattan Associates, commented: “Orchestrating the complex flow of orders across multiple channels to meet the expectations of today’s increasingly demanding consumer is one of the biggest challenges facing apparel brands and retailers today. We are confident our technologies will accelerate Fenix Outdoor’s journey to omnichannel commerce maturity while also boosting the company’s top and bottom lines.”

  • Asian Logistics and Maritime Conference Opens 23 Nov

    Asian Logistics and Maritime Conference Opens 23 Nov

    The seventh Asian Logistics and Maritime Conference (ALMC) will be held 23-24 November at the Hong Kong Convention and Exhibition Centre (HKCEC). The two-day conference is jointly organised by the Hong Kong Trade Development Council (HKTDC) and the Government of the Hong Kong Special Administrative Region (HKSAR). This year’s ALMC will spotlight three important topics, including the Belt and Road Initiative, e-Commerce and smart logistics. About 70 luminaries from the logistics and maritime sectors will speak at the conference to share their visionary ideas. ALMC is expected to attract about 2,000 industry experts from some 20 countries and regions to take part and explore business opportunities.

    HKTDC Assistant Executive Director Stephen Liang said, “As the Belt and Road Initiative is turned from vision to action, and the rapid development of logistic technology is speeding up changes in the global supply chain, there is huge demand for logistics and efficient ocean shipment services in Asia. As the largest event of its kind in Asia, the Asian Logistics and Maritime Conference strives to provide the ideal platform for the industry to learn about the latest development and explore business opportunities.”

    Belt and Road spotlight

    Stephen Liang said that to match market demand, this year’s ALMC will focus discussions on hot topics, including the Belt and Road Initiative, e-Commerce and smart logistics. Apart from the main conference and forums, exhibitions and networking receptions will also be organised led by heavyweight speakers.

    New e-Commerce Support and Tech Applications zone

    This year’s exhibition will feature over 120 exhibitors showcasing supply chain management, logistics, maritime and related services. The E-Commerce Support and Tech Applications zone will debut with a range of fundamental toolkits, such as document management and e-Commerce tools including Internet security and real-time tracking system, offering professional and comprehensive services and solutions. To drive more business cooperation, the HKTDC will arrange more than 140 one-on-one business-matching sessions to help exhibitors and participants foster new business collaborations during the event.

    Close to 70 renowned speakers share thoughts

    Some 70 industry experts and representatives of international brands will speak at the ALMC. Arkhom Termpittayapaisith, Minister of Transport, Thailand, will deliver a keynote speech at the opening session. Among the highlights will be the two plenary sessions. The first, entitled “Belt and Road: Growth Engine Driving New Era for Global Trade” (23 November), will examine the prospects and challenges for the industry in light of the rapid development of the new Europe-Asia sea and land trade route, the ASEAN market and railway cargo transport. Dr Victor K Fung, Chairman of Fung Group, will be the keynote speaker at the first plenary session. Other speakers will include Siddique Khan, President, Kerry Globalink, and chaired by Ben Bland, South China Correspondent, Financial Times.

    The second plenary session, entitled “Delivering New World Order for Online Shopping” (24 November), features speakers including Cissy Chan, Executive Director, Commercial, Airport Authority Hong Kong; James Gagne, President, SEKO Logistics; Katsuhiko Umetsu, Director and Chairman, Yamato Global Logistics Japan Co, Ltd; James Chang, Chief Crossborder Officer, Lazada Group; and chaired by Fox Chu, Partner, Transportation, Travel and Logistics Practice, McKinsey & Company.

    Forums explores industry development

    Apart from the plenary sessions, other forums will cover hot issues such as supply chain management, logistics, maritime and airfreight. Topics include Halal Logistics, Temperature-controlled Cargo Handling, and Digital Supply Chains for F&B Logistics. Canada and Zhuhai will hold two forums to discuss regional logistics cooperation. The Canadian National Railway (CN) will explore seamless cooperation between North American ports and railway logistics, while representatives of the Zhuhai Municipal Government will examine new opportunities from the completion of the Hong Kong-Zhuhai-Macao Bridge and the development of the Big Bay Area.

    Flagship event for Hong Kong Maritime Week

    ALMC is one of the celebratory events for the Hong Kong SAR’s 20th anniversary, garnering support from various sectors and matching the event’s theme “Together, Progress, Opportunity.” ALMC is also a flagship event of the Hong Kong Maritime Week, organised by the Hong Kong Maritime and Port Board. The ALMC is supported by the Hong Kong Logistics Development Council and Hong Kong Maritime and Port Board. The HKTDC invited 20 global leaders in the logistics and shipping industries and representatives of internationally renowned companies to serve as honorary advisors to provide advice on the agenda and content of the ALMC.

  • Vietnam’s richest man leapfrogs Donald Trump on Forbes’ billionaires list

    Vietnam’s richest man leapfrogs Donald Trump on Forbes’ billionaires list

    Vietnam’s richest man and first billionaire has climbed past U.S. President Donald Trump on Forbes magazine’s real time list of the world’s billionaires.

    Pham Nhat Vuong, founder and chairman of Vingroup JSC., was the world’s 640th richest person with a net worth of $3.5 billion as of 5 p.m. GMT on November 8.

    Since the release of Forbes‘ 2017 billionaires list in March, when Vuong was ranked 867th, his net worth has increased by over $1 billion. This gain is largely attributed to Vingroup’s shares gaining nearly 50 percent in the last six months and the IPO of Vingroup subsidiary Vincom Retail earlier this week.

    Meanwhile, the U.S. president and real estate mogul dropped from 544th to 734th with a net worth of $3.1 billion. His fortune has been declining over the past year due to a tough New York real estate market, a costly lawsuit and an expensive presidential campaign, according to Forbes.

    Meanwhile Nguyen Thi Phuong Thao, founder of budget airline Vietjet Air and Vietnam’s second billionaire, was ranked 1246th with a net worth of $1.9 billion.

    At the top of the billionaires list was Amazon’s founder Jeff Bezos with a net worth of $94.9 billion, followed by Microsoft co-founder Bill Gates at number two with $89.5 billion.

    Vingroup is one of Vietnam’s largest real estate conglomerates, and has also been expanding rapidly into retail, logistics, agriculture, education and healthcare. As of the end of September, its subsidiary Vincom Retail was managing, operating and renting 41 shopping malls with a total area of over 1.1 million square meters (272 acres). It also has 22 projects under construction and another 50 in early development.

  • Kiss the Tiramisu expansion to Philippines

    Kiss the Tiramisu expansion to Philippines

    South Korean dessert cafe Kiss the Tiramisu has opened its first store in the Philippines.

    In Salcedo Village, Makati City, it joins the roster of Kiss the Tiramisu branches in such countries as Hong Kong, Malaysia, Singapore and Thailand.

    Shirley Vy of local franchisee Foodeology says that as an ice-cream lover, she likes to try something new and different. “So when I was walking the streets of Hong Dae in Seoul, I saw a booth with a long queue. It was Kiss the Tiramisu … My first bite was totally magical – my unforgettable first ‘kiss’. At that moment, I knew I wanted to bring this brand to the Philippines.”

    Kiss the Tiramisu founder Jiro Kim says he wondered what would happen if tiramisu ice cream was made using mascarpone cheese. His curiosity paid off, with queues forming for the resulting product.

    His ice cream is delivered in a gold-rimmed acrylic glass. A cup is assembled with a smear of mascarpone cheese first, followed by soft-serve ice cream with layers of cookies, syrups or cakes. For the Philippines, there are four variants…

    Original Tiramisu: Mascarpone soft-serve with layers of coffee-soaked cake, coffee sauce and a sprinkling of cocoa powder.

    Matcha Ice Cream: Matcha sauce is added to the coffee-soaked cake and mascarpone ice cream, with a sprinkling of matcha powder to finish.

    Injeolmi: This features a Korean cake and a sprinkling of soybean powder.

    Midas Touch: Kiss the Tiramisu creates a special flavour for every country it has outlets, and for the Philippines it is a soft-serve cup with ube (purple yam) cake, caramel custard and layers of crushed barquillo biscuits drizzled with caramel sauce. For the “Midas” element, there is some edible gold leaf.

    More Kiss the Tiramisu branches will follow soon in the Philippines.

  • China signs $37 billion deal to buy 300 Boeing planes

    China signs $37 billion deal to buy 300 Boeing planes

    China signed an agreement Thursday to buy 300 airplanes from U.S. aerospace giant Boeing valued over $37 billion, as part of a multi-billion dollar raft of deals announced during President Donald Trump’s visit to Beijing.

    The agreement for China Aviation Suppliers Holding Co (CASC) to buy the single-aisle and twin-aisle aircraft was among the more than $250 billion in agreements announced at a ceremony attended by Trump and Chinese leader Xi Jinping.

    A Boeing statement said the agreement includes “orders and commitments” to buy the aircraft, but it did not give a further breakdown.

    In September 2015, Boeing had already received an order from CASC for 300 aircraft valued at a record $38 billion at list prices.

    Boeing and European rival Airbus are competing heavily in China, the world’s second aircraft market, with the U.S. company forecasting that the Asian giant needs over 7,200 commercial aircraft in the next 20 years.

    China, meanwhile, has developed its own medium-haul C919 in a bid to challenge the Airbus-Boeing duopoly.

  • Vietnam stock hits fresh near 10 years high

    Vietnam stock hits fresh near 10 years high

    Vietnam shares gained 0.9 percent, with real estate developer Vingroup Joint Stock Company climbing 4.7 percent to an all-time peak.

    Global equities were largely muted as concerns of a delay in U.S. tax reform proposal and apprehension over Saudi Arabia’s rising tensions with Iran soured investor sentiment.

    “Markets seem unsure which way to go next – equity markets are largely becalmed…,” ING analysts said in a note.

    Most Southeast Asian stock markets were muted today, with Indonesia slipping from a record close, as investors took a breather in the absence of market-moving data.

    Indonesian stocks slumped 0.3 percent from a record close, dragged by the telecommunications sector, with Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk, down 1.7 percent.

    Singapore index was largely flat, with real estate giant CapitaLand Ltd down 1.1 percent and Keppel Corp Ltd giving up 0.9 percent.

    Philippine stocks edged 0.3 percent lower, with industrial stocks accounting for majority of the losses, as SM Investments Corp slumped 2.8 percent, and food processor JG Summit HoldingS dropped 1.2 percent.

    Real estate stock Ayala Land was the biggest drag on the index, declining 2 percent. Manila-based RCBC Securities analyst Fio De Jesus attributed the stock’s move to profit-taking after it rose 1.3 percent in its previous session on strong nine-month earnings.

    Thai shares pared early gains in the session to trade down 0.1 percent ahead of the Bank of Thailand’s rate decision due later in the day. The central bank is expected to leave its benchmark interest rate near record lows again, with the current level seen supporting the country’s economic recovery while inflation stays benign.

  • Courts Singapore getting serious with flagship store

    Courts Singapore getting serious with flagship store

    Courts Singapore has redesigned its flagship megastore in Tampines, offering a new immersive experience for customers.

    For the upgrade, the retailer of home electronics, IT and furniture products has put a particular focus on the needs of modern apartment living.

    With its official grand opening on Saturday, the store offers 136,000sqft (12,600sqm) over three floors, with experiential areas making up most of the space.

    In conjunction with the makeover, Courts has also unveiled its relaunched online store which now seamlessly unifies the offline/online shopping experience. The webstore is the largest in its network, offering more than 17,000 SKUs as well as introducing intuitive navigation, search and a faster check-out experience. There is also the option to collect purchases in its physical stores.

    Courts Singapore - Tampines flagship - The newly redesigned Level 1 atrium at COURTS Megastore Tampines

    “We are making good living and great in-store experiences accessible and affordable to all Singapore homeowners – a vision we’ve stayed true to since we first opened 43 years ago,” says group CEO Dr Terry O’Connor.

    Courts Singapore - Tampines flagship - 50 per cent of COURTS online shoppers choose to buy online and collect in-store, at convenient Click and Collect counters

    $10 million investment

    The flagship upgrade is part of Courts Singapore’s S$10 million (US$7.3 million) investment into a series of store refurbishments for the financial year with a focus on new retail concepts and experiential areas. Courts has also launched a new brand slogan, “Better Living, Better Prices”.

    “The Courts Megastore transformation is the result of a year of planning and two months of renovation work, combining the expertise of the commercial, visual merchandising and store operations teams,” says Courts Singapore country CEO Ben Tan.

    Courts Singapore - Tampines flagship - Four new chef demonstration areas bring culinary delights and in-store theatre to shoppers

    “We’ve curated every aspect of the shopping journey,” he says. This includes online integration, a new range for lifestyle and smart technology trends, complementary furniture customisation and three-week delivery.

    Courts Singapore - Tampines flagship -Smart home link-up is demonstrated at Design Studio by COURTS, and available for purchase at COURTS' one-stop solutions provider GURU

    Courts Singapore - Tampines flagship -Customising your sofa is as easy as 1-2-3 with over 2,500 COURTS-exclusive fabrics and over 150 leather and half-leather options to pick from

    With every furniture consultation customers are offered a free cup of artisanal coffee. Bespoke options are available for every furnishing need from sofas, curtains and blinds to wardrobes, bedding and dining tables.

    In its bedding department Courts offers more than 1000 types of mattresses from 23 brands. Shoppers can customise their bed frames and headboards. The revamped bedding area has 11 galleries including new brand for healthy living.

    Courts Singapore - Tampines flagship- A wide array of dining tables in various materials, finishes and bases are offered on the floor

    Design services

    For new homeowners, the Courts Design Studio offers services covering interior design, renovation, furnishing, flexible finance and smart-home connectivity. Consultants are on hand from two award-winning interior-design firms. The studio houses a full-size four-room HDB apartment and studio apartment showroom, integrated with smart-home automation.

    Courts Singapore - Tampines flagship - COURTS is the largest bedding retailer with over 1,000 mattresses from 23 brands

    On the same level, the new Home Gallery is an adaptable showroom space that will be regularly refreshed with room settings and also doubles up as a furniture photoshoot studio. The showroom has two movable walls.

    There is also a Dulux Paint Experience area where shoppers can experiment with colours.

    Four new interactive cooking demonstration stations will feature chefs and cooking hosts. Hungry shoppers have the new Mo Cafe for single-origin coffee and cakes, and a Subway with a window overlooking the third level.

    Samsung Open House 2.0 is an experiential retail concept offering an interactive and connected smart-home experience. It showcases the brand’s range of digital appliances on a 85in. UHD display, allowing shoppers to visualise how each appliance might look in their home. The neighbouring LG Home Entertainment area showcases a range of setups.

    Hands-on gaming

    Courts Singapore - Tampines flagship - The new Gaming Zone at COURTS is a space hosting multiplayer gaming tournaments and a key experiential zone in the store

    Courts has also expanded its gaming zone with such brands as Acer Predator, Alienware, Asus Republic of Gamers, Lenovo Legion, MSI and Razer. shoppers can try out the latest PC games, and there is a space designed to host multiplayer gaming tournaments.

    Also launched at the megastore is Guru, which offers more than 100 repair and maintenance services for more than 20 home-product categories. It will be open 365 days a year with its own in-store service counter as well as a phone hotline, and will also offer home cleaning, painting and fix-it services with warranties.

    COURTS has expanded its gaming retail area with nine PC, console and augmented reality gaming brands

    To mark the flagship’s official opening, a four-week celebration will offer discounts of up to 90 per cent, and deals such as a free Xbox One, worth $499, with the purchase of any gaming laptop computer.

    There will also be a celebrity line-up including Arsenal and Liverpool football stars, singer Joanna Dong, Running Man star Kim Jong Kook and Singapore’s first boxing champion, Muhamad Ridhwan.

    Free public Wi-Fi as well as complimentary parking are also available.

  • Telco giant Viettel named biggest tax payer in Vietnam

    Telco giant Viettel named biggest tax payer in Vietnam

    A list of the 1,000 businesses that paid the most tax last year in Vietnam has been released, and includes three foreign firms in the top 10.

    Military-run telco giant Viettel topped the list after earning a pre-tax profit of nearly VND40 trillion ($1.76 billion), followed by Japanese motorbike and automobile producer Honda and state-owned energy group PetroVietnam, according to a report by the General Department of Taxation.

    Viettel is Vietnam’s largest telecom firm in terms of earnings, and operates mobile networks across 10 countries in Southeast Asia, South America and Africa with further plans for expansion. UK-based Brand Finance ranks its brand value seventh in Southeast Asia and 93rd globally.

    Japanese automobile maker Toyota and Dutch brewery Heineken were also named among the top 10 biggest tax payers in Vietnam last year.

    The rest of the top 10 was made up of state-owned enterprises: telecom firm MobiFone, major lenders Vietcombank and VietinBank, dairy giant Vinamilk and the Airports Corporation of Vietnam.

    Details of how much tax each company paid were not released, but the report said that the 1,000 biggest payers contributed more than VND90 trillion (nearly $4 billion) to the state budget in 2016, up 12 percent from the previous year.

    The top 10 accounted for nearly 75 percent of that figure, it said.

    Vietnam imposes a corporate tax rate of 20 percent.

  • Vietnam’s stock capitalization rockets to $132 billion

    Vietnam’s stock capitalization rockets to $132 billion

    Vietnam’s total stock market capitalization in the first 10 months reached $132 billion, up 83 percent from the end of last year and equal to 61 percent of Vietnam’s gross domestic product, the National Financial Supervisory Commission reported on Wednesday.

    During the first 10 months, the benchmark VN-Index on the Ho Chi Minh Stock Exchange increased by 20 percent from the last day of trading last year.

    Notably, on Wednesday, the VN-Index closed at 859.7 points, marking a 10-year high.

    On the bond market, funding raised from government bonds also witnessed an improvement. In October, the State Treasury of Vietnam issued $307 million worth of government bonds, an on-month increase of 41 percent.

    According to the commission, demand for short-term government bonds (five-year and seven-year terms) increased, but demand for long-term bonds (more than 10-year terms) declined.

    As of October, the State Treasury had completed 85 percent of its bond issuance target for 2017, which has been set at $8.03 billion.

  • Tapestry sales report

    Tapestry sales report

    The leather goods company formerly known as Coach Inc., Tapestry, has reported earnings for the first time since the name change.

    Tapestry, which is in the midst of a major rebranding, posted a 24.2 per cent increase in revenue to $1.29 billion and a net loss of $17.7 million compared with a profit of $117.4 million the previous year.

    Same store sales dropped two per cent for the Coach brand.

    Neil Saunders, managing director at GlobalData Retail, said the current period is one of transition for Tapestry, which changed its name from Coach last month as it grows into a multibrand lifestyle company following the acquisitions of accessories retailer Kate Spade and shoemaker Stuart Weitzman.

    “The inclusion of Kate Spade flatters the overall revenue number, which rose by almost 24 per cent,” Saunders said. “However, if this is excluded, a weaker picture emerges with sales down by 1.7 per cent over the prior year. This is solely the result of the continued revenue slide at Coach where overall sales dipped by 2.8 per cent, including a two per cent decline in comparables.”

    The pullback from department stores and other channels that Tapestry considers to be detrimental are part of the reason for the slide in Coach’s numbers. Saunders said this is not an unusual pattern.

    “However, we feel that there is an additional softness in this quarter’s results and that they indicate a slight worsening of performance since the prior period,” he said. “Fortunately, much of this appears to be down to transitory factors such as a shift in the Chinese Mid-Autumn festival and natural disasters in the United States. Even so, they serve as a reminder of the fickleness of demand when it comes to higher-end brands – which is why Tapestry wants to move away from being reliant on just one label.”

    Saunders said their recent store visits to Coach has led them to believe that the holiday quarter will be a positive one.

    “The collection is looking strong with some good gifting stories; merchandising is compelling and engaging,” he said. “Our consumer data also indicates that perceptions of Coach continue to rise and its status as a brand that people want to receive and to gift have both improved since last year.”

    Tapestry’s newest addition, Kate Spade, also suffered a sales decline, with comparables down by 9 per cent.

    “While this is a less than auspicious start, it is the result of deliberate action by Tapestry to wean the brand off its reliance on discounting and flash sales,” Saunders said. “Predictably, this had a negative impact on volumes, especially online where global e-commerce declined by 600 basis points.”

    As much as this is beneficial to gross margins, the shift put severe pressure on the bottom line.

    “Thanks to this, and the disruption and expense of the acquisition, Kate Spade fell firmly into the red,” Saunders said. “However, we are not overly concerned by this as we believe Kate Spade needs to take two steps back before it can move forward.”

    With Tapestry’s two leading brands in negative sales territory, it fell to Stuart Weitzman to try and make up some lost ground. The division duly delivered with a 10.2 per cent uplift in sales. Better collections in store coupled with improved demand for footwear drove the results.

    “We are confident that this uptick will continue into the holiday quarter and beyond, bolstered by the much-awaited collection from Giovanni Morelli,” Saunders said.

    According to Saunders, as important as the performance of the individual brands is, it is the way in which Tapestry will bring them together that will determine business performance. “Here, despite the negative revenue growth and this quarter’s net loss of $17.7 million, we are encouraged by the progress,” he said. “Synergy savings from the Kate Spade integration are ahead of schedule, which allowed the company to beat its earnings forecast. Moreover, Tapestry has increased its targeted savings out to 2019 from $50 million to $115 million.”

    Saunders added that all of this suggests that the current period is one of transition for Tapestry and that better numbers will come through over time.

    “Overall, we have confidence in the general direction and strategy of the group.”

  • Vietnam’s richest woman wants a Walmart connection on her airline

    Vietnam’s richest woman wants a Walmart connection on her airline

    The founder and CEO of Vietnamese budget carrier VietJet has said she wants to sell products from the world’s biggest retailer Walmart on her airline.

    Nguyen Thi Phuong Thao, the first and only female billionaire in Vietnam according to Forbes magazine, presented the idea to Scott Price, executive vice president of Global Leverage for Walmart International, at the ongoing Asia Pacific Economic Cooperation (APEC) Summit in Vietnam’s central city of Da Nang.

    “We call ourselves a consumers’ airline,” Thao said on Thursday at the APEC CEO Summit.

    “The idea to work with Walmart is an example of VietJet’s customer-oriented approach, emphasizing our philosophy of providing more convenient services for Vietnamese clients in the near future,” she said.

    She also spoke about the role of technology in trade and business, suggesting a tech connection with Walmart for VietJet’s passengers.

    Price said the company is willing to work with VietJet as it has yet to open any stores in Vietnam, providing there is demand for its products.

    “We plan to expand further,” Thao said. “Vietnamese airlines play an important role in connecting Southeast Asia. In the near future we’ll collaborate with more airlines, such as Korea’s ASIANA.”

    Vietjet already has deals with Quatar Airway and Japan Airlines, and is in talks with an airline in the U.S. and another in Europe.

    “Thanks to the connections that VietJet is building, passengers can fly anywhere they want to around the world,” Thao said.

    The CEO Summit has gathered more than 2,000 local and foreign businesses and is one of the most important events at the APEC Summit. It is hosting leaders from the 21 Pacific Rim nations and thousands of businesspeople, including Facebook COO Sheryl Sandberg, UPS CEO David Abney, and chairman and CEO of J.P. Morgan Asia Pacific Nicolas Aguzin.

    Last week, Thao secured 55th spot on the World’s 100 Most Powerful Women 2017 ranking, jumping seven places from the previous year, and was the only Vietnamese national named on the list compiled by Forbes.

    According to the magazine, Thao has an estimated net worth of $1.93 billion, eclipsing the figure of $1.2 billion it calculated in March.

    Thao launched VietJet in 2011. Her “bikini” airline, nicknamed after its unique yet controversial promotion scheme of putting female crew in bikinis on some flights, now offers 300 flights a day, or more than 40 percent of the country’s flights, with a fleet of 45 jets.

    In May, It is reported that the Hanoi-based VietJet Aviation Joint Stock Co. was in talks to become the first Vietnamese company to list on an overseas stock exchange.

    “We’ve been approached by some foreign stock exchanges including London, Hong Kong and Singapore, which expressed their interest in our stock,” Thao was quoted as saying in the report.

    According to Bloomberg, VietJet reportedly received shareholder approval in April to boost its foreign ownership limit to 49 percent from 30 percent.

    She told Bloomberg in an interview a year ago that she has plans to make VietJet a global airline. “We want to make VietJet the Emirates of Asia.”

  • Dolce & Gabbana sneakers pop-up store arrives in Vietnam

    Dolce & Gabbana sneakers pop-up store arrives in Vietnam

    The Dolce & Gabbana Sneakers pop-up store is to land in Vietnam for four weeks, at Trang Tien Plaza in Hanoi.

    After choosing their white sneakers, customers – both men and women – can head to the design lab where artists are waiting to help them customise their purchase.

    Options for the sneakers include color patches, stitches or written inscriptions.

    Besides sneakers, customers can also have white t-shirts customised.

    The Dolce & Gabbana sneakers pop-up store opens from November 5 to  December 3.

  • What Justin Trudeau does in Vietnam in spare time?

    What Justin Trudeau does in Vietnam in spare time?

    Canadian Prime Minister Justin Trudeau capped a hectic day in Ho Chi Minh City by jogging along the Nhieu Loc-Thi Nghe Canal on Thursday evening, catching locals off-guard and setting the media abuzz.

    The charismatic prime minister was on an official visit to Vietnam’s biggest city before going for a jog along the canal, which is considered an example of smart urban development.

    According to media reports, he started jogging at around 7 p.m. With his cap on, Trudeau, flanked by several of his guards, ran past many locals who were exercising outdoors.

    “He looks so handsome and gentle,” an elderly woman who was working out along the canal said.The surprise appearance of the Canadian prime minister attracted widespread attention.

    “When I realized he was the Canadian prime minister, I was in awe of such a young, handsome and down-to-earth leader,” Nguyen Thi Thanh, 61, said.

    Last May, another photo of Trudeau jogging past a group students taking prom photos in Vacouver, Canada, also went viral, creating a made-for-meme internet sensation.

    But after it was pointed out that the shot was snapped by his official photographer, his critics blasted the media for continuing to fall for what “seems to be a constant stream of PR stunts”, The Guardian reported in May.

    The report cited Robyn Urback, a columnist for the Canadian Broadcasting Corporation, as saying that in politics, even the most spontaneous run-ins are carefully set up. “And public photobombs by politicians in their Sunday sweats usually involve some sort of prior coordination,” she said.

    in-vietnams-biggest-city-justin-trudeau-concludes-official-visit-by-jogging-past-locals-1
  • Balenciaga is the hottest fashion label

    Balenciaga is the hottest fashion label

    Balenciaga has overtaken Gucci as the hottest fashion label, according to the latest Lyst Index.

    The index draws on data analysis by fashion-search platform Lyst in conjunction with the Business of Fashion website. The 4.5 million data points analysed include sales, searches and consumer perceptions of 5 million products and 12,000 brands.

    Its result is despite Louis Vuitton, Hermes and Gucci being named best fashion brands globally just last month by Interbrand consultancy.

    Ranking the world’s hottest brands and top-selling products, the Lyst Index ranked Gucci first in this year’s second quarter, followed by Kanye West’s Yeezy and Balenciaga. However, the Spanish fashion brand continued to rise, displacing Gucci in the third quarter, with Virgil Abloh’s Off-White rising to third – a jump of 31 places in three months.

    Lyst says Balenciaga’s rise was because of a new logo and the Colette residency in Paris keeping the brand top of mind “while Demna Gvasalia continues to design products that drive the fashion narrative online”.

    Additionally, the platform praised Gucci for being a “consistent performer”, reports High Snobiety.
    Rounding out the top 10 are Vetements, Givenchy, Valentino then Saint Laurent, while Stone Island leaped from 41st to eighth, followed by Moncler (previously 20th) and finally Raf Simons (previously 21st).

    Lyst Index also looked at the most influential rappers in fashion for the quarter, listing (in order) Kanye West, Nicki Minaj, Pharrell Williams, Cardi B, Drake and A$AP Rocky.

  • Microsoft supports Mitsubishi in digital transformation of trucks, logistics operations

    Microsoft supports Mitsubishi in digital transformation of trucks, logistics operations

    Microsoft Japan Co., Ltd. is leveraging its AI, mixed reality and other cutting-edge technologies to support Mitsubishi Fuso Truck and Bus Corporation (MFTBC) in an initiative to enhance its customer relations, boost employee productivity and drive the digital transformation of its business through digitalising its truck and logistics operations.

    MFTBC is pursuing digital transformation based on its Connected X concept. Connected X seeks to boost productivity and offer further added value through seamlessly connecting employees, customers, devices, trucks and factories. MFTBC launched its Connected X project in July 2017, and is pursuing a wide range of digitalisation initiatives with the goal of becoming a 100 per cent digital manufacturing company by June 2019. At present, the following three key components are in progress.

    1    AI chatbot

    MFTBC plans to streamline its operations by deploying an Azure-based internal helpdesk chatbot to respond appropriately and promptly to frequently asked questions. The chatbot will enable queries to be answered more uniformly in less time. MFTBC aims to enhance customer services, productivity, and maintenance quality by deploying the chatbot across the whole company and enabling it to also handle customer inquiries and converse with drivers and mechanics.

    2    Truckonnect operation management system

    MFTBC is using Microsoft Azure IoT Hub for its Truckonnect operation management system that connects trucks and buses to the cloud so as to enable vehicle location and remaining fuel to be monitored in real time, thereby preventing problems before they occur and enabling more efficient transport and smooth vehicle maintenance by sharing information with vehicle dispatch centres.

    3    Utilisation of Microsoft HoloLens to transform development and maintenance

    MFTBC and Microsoft Japan will make concrete preparations for deploying Microsoft HoloLens, a self-contained Windows 10-powered holographic computer, by the end of this year to revolutionise conventional vehicle design and development, preventive maintenance and other processes by enabling users, engineers, and designers to simultaneously share visualised 3-D data. HoloLens will unlock new possibilities in digital experiences, collaboration and workstyle by leveraging Mixed Reality (MR) technology that combines real and virtual worlds to utilise the best of both worlds by overlaying holograms (3-D virtual objects) on the real world in front of the viewer’s eyes.

    Microsoft Japan’s Enterprise Services will provide full backup for this project. Digital advisors belonging to a special unit dedicated to supporting the digital transformation of Microsoft Japan’s customers will assist with all aspects of the project up to deployment, including identifying issues and suggesting solutions that leverage the latest technology.