Retail News CRM

Author: Mei Ling Tan

  • Levi Strauss & Co Welcomes Anita Fung as New MD to Boost Greater China Operations

    Levi Strauss & Co Welcomes Anita Fung as New MD to Boost Greater China Operations

    Levi Strauss & Co. has announced that Anita Fung will take on the role of Managing Director for the Levi’s brand in Greater China. The region is a key strategic market for the company, and this appointment is an important step in their long-term growth plans.

    Leading Commercial Operations in Greater China

    In her new role, Fung will oversee commercial operations across all channels in the region. She will be directly reporting to Gianluca Flore, the Chief Commercial Officer at Levi Strauss & Co. This move is part of the company’s ongoing efforts to enhance its direct-to-consumer strategy.

    Expertise in the Fashion Industry

    Fung brings to the table an impressive 20 years of experience in the Asia-Pacific region. Her previous roles include notable senior positions at global luxury fashion brands Burberry and Alexander McQueen, both part of Kering. As a part of these roles, Fung was responsible for managing regional operations and played a crucial part in increasing the brands’ presence and performance.

    Confidence in the New Appointment

    “Anita’s role is crucial to our long-term growth ambitions in Greater China,” said Gianluca Flore. “I am confident in her ability to enhance our status as a leading lifestyle brand. She possesses a wealth of expertise in engaging with customers in this dynamic and fashion-forward market.”

    This appointment is a strategic move by Levi’s to strengthen its execution in Greater China, a market that is not only highly competitive but also integral to the global fashion industry’s growth.

    Earlier this year, the company also appointed Hiren Gor as Managing Director for the South Asia, Middle East, and Africa (SAMEA) region.

    Questions & Answers

    Why was Anita Fung appointed as the new Managing Director for Levi’s in Greater China?
    Anita Fung was appointed due to her extensive experience in the Asia-Pacific region and proven track record in senior roles at global luxury fashion brands.

    What are the responsibilities of Anita Fung in her new role at Levi’s?
    As the Managing Director for Levi’s in Greater China, Fung will oversee commercial operations across all channels in the region and report to the Chief Commercial Officer, Gianluca Flore.

    What is the significance of the Greater China market for Levi Strauss & Co.?
    Greater China holds strategic importance for Levi Strauss & Co. as it is central to global fashion growth. The company is working to strengthen its position in this highly competitive market as part of its long-term growth plans.

  • End of an Era: Ikea Titan Martin Lindstrom Bids Farewell After 36-Year Tenure

    End of an Era: Ikea Titan Martin Lindstrom Bids Farewell After 36-Year Tenure

    Martin Lindstrom, the current CEO of Ikea under the DFI Retail Group, has announced his decision to step down from his position by the end of May. This move marks the end of his impressive 36-year tenure at the world-renowned Swedish furniture retailer.

    Career Overview

    Lindstrom’s journey with Ikea commenced in 1993, when he joined the organization as an operations manager in Poland. His leadership skills soon led him to helm the company’s Hong Kong operations, a role he effectively performed for four years, beginning in 1996.

    Subsequently, Lindstrom relocated to Taiwan where he held the position of deputy manager from 1999 to 2000. His career trajectory then saw him dedicating seven years of service as a franchise development manager. In this capacity, he played an instrumental role in spearheading the company’s expansion into new Asian markets.

    In 2013, Lindstrom ascended to the position of CEO of Ikea under the DFI Retail Group. Here, he was responsible for supervising the franchised operations across Taiwan, Hong Kong, and Indonesia.

    Parting Thoughts

    Reflecting on his departure, Lindstrom expressed that he believed it was the right time to move on and open the door for future opportunities. Throughout his tenure, he stated that the foundational concept behind Ikea was what kept him intrigued and dedicated.

    Lindstrom emphasized that the aim of Ikea’s founder, Ingvar Kamprad, was to enhance daily life for a large number of people. Being a part of a brand and a corporation with such an inspiring mission, according to Lindstrom, was indeed a privilege.

    In an homage to the Ikea founder, Lindstrom quoted, “Most things remain to be done. Glorious future.”

    Questions & Answers

    When did Martin Lindstrom start working for Ikea?
    Martin Lindstrom began his journey at Ikea in 1993, starting as an operations manager in Poland.

    What positions did Lindstrom hold during his tenure at Ikea?
    Lindstrom held several key positions during his career at Ikea. He started as an operations manager in Poland, later headed the company’s Hong Kong operations, served as a deputy manager in Taiwan, and spent seven years as a franchise development manager. His most recent role was the CEO of Ikea under the DFI Retail Group.

    What was Lindstrom’s reason for leaving Ikea?
    Lindstrom felt it was the appropriate time to step forward, make way for fresh opportunities, and let the next phase unfold.

  • J&T Express Sees Stellar 18.5% Revenue Growth in 2025, Marks Profitability in New Markets

    J&T Express Sees Stellar 18.5% Revenue Growth in 2025, Marks Profitability in New Markets

    In 2025, global logistics service provider, J&T Global Express Limited (J&T Express), reported robust financial results. For the first time, the company’s total parcel volume breached the 30-billion mark, reaching 30.1 billion, a 22.2% increase from the previous year. The full-year total revenue also experienced significant growth, reaching US$12.2 billion – an 18.5% year-over-year (YoY) increase. These figures underscore the consistent growth momentum of the company’s global network, which spans across 13 countries.

    Continued Profitability and Expansion

    J&T Express reported continuous improvements in profitability, with an adjusted net profit of US$425 million, marking a 112.3% YoY increase. The Southeast Asia market, in particular, saw substantial growth, achieving what the company refers to as a “trifecta” of volume growth, market share expansion, and profit improvement. The adjusted Earnings Before Interest and Taxes (EBIT) in this market alone surged 77.5% YoY to US$538 million.

    In new markets, the company also reported positive figures with an adjusted EBIT of US$4 million, just three years after launching operations in 2022. Meanwhile, in the China market, despite intense competition and a challenging policy backdrop, the company maintained profitability through effective cost control, posting an adjusted EBIT of US$94 million.

    Dominance in Southeast Asia

    J&T Express further solidified its leadership position in the Southeast Asia market in 2025. The company’s parcel volume in this region reached 7.66 billion, a four-year high growth rate of 67.8% YoY. The revenue also soared 39.8% YoY to US$4.5 billion. By parcel volume, J&T Express increased its market share in Southeast Asia to 34.4%, ranking as the top express delivery operator in the region for six consecutive years since 2020.

    Growth in China

    In the China market, J&T Express reported high-quality growth in 2025, with business volume ranking fifth and revenue increasing 5% YoY to US$6.71 billion. The company handled 22.07 billion parcels, up 11.4% YoY. The company’s cost per parcel decreased YoY to US$0.28, maintaining the profit resilience of the business.

    New Markets

    In new markets, such as Saudi Arabia, UAE, Mexico, Brazil, and Egypt, J&T Express reported a parcel volume increase of 43.6% YoY to 404 million and a revenue rise of 51.2% YoY to US$870 million. The adjusted EBIT improved significantly from the same period last year to a profit of US$4 million, marking an important milestone in the company’s globalisation strategy.

    Questions & Answers

    What was the total revenue of J&T Express in 2025?
    The total revenue of J&T Express in 2025 was US$12.2 billion.

    What was the parcel volume of J&T Express in Southeast Asia in 2025?
    The parcel volume of J&T Express in Southeast Asia in 2025 reached 7.66 billion.

    What were the new markets for J&T Express in 2025, and how did they perform?
    The new markets for J&T Express in 2025 included Saudi Arabia, UAE, Mexico, Brazil, and Egypt. They reported a parcel volume increase of 43.6% to 404 million and a revenue rise of 51.2% to US$870 million. The adjusted EBIT improved significantly from the previous year to a profit of US$4 million.

  • Green Milestone: FedEx Pioneers Solar Energy at Shanghai Hub, Amplifying Renewable Commitment in Asia Pacific

    Green Milestone: FedEx Pioneers Solar Energy at Shanghai Hub, Amplifying Renewable Commitment in Asia Pacific

    FedEx, a global leader in express transportation, is bolstering its commitment to sustainability across the Asia Pacific through the inauguration of a new solar installation at the FedEx Shanghai International Express and Cargo Hub. This marks a significant landmark in the company’s drive towards sustainable logistics infrastructure, cementing FedEx’s position as the first and, currently, the only logistics and freight company at the Shanghai Pudong International Airport cargo area to generate on-site solar energy.

    Harnessing Solar Power in Shanghai

    The new solar installation at the Shanghai Hub takes advantage of existing parking facilities, with over 4,000 square meters of solar panels installed. This system is anticipated to produce around 743,000 kilowatt-hours of electricity each year. When compared to coal-fired power generation of the same capacity, this renewable energy source is expected to prevent roughly 417 metric tons of carbon dioxide emissions annually. The system will also reduce about 2.1 tons of particulate matter and 4.21 tons of sulfur dioxide. The electricity generated will primarily support office operations at the hub, substantially increasing the proportion of clean energy used in the company’s day-to-day activities.

    Fostering Renewable Energy in the Asia Pacific

    The newly installed solar panels in Shanghai represent the latest addition to a growing catalogue of renewable energy initiatives supporting FedEx facilities across Asia Pacific. Since November 2022, the FedEx Incheon Gateway in South Korea has been harnessing power from 2,400 rooftop solar panels, supplying about 19% of the facility’s monthly energy requirements. The building also exclusively uses LED lighting, resulting in annual energy savings of more than 22,000 kW hours.

    Moreover, since January 2025, over 50 percent of the electricity consumed at the FedEx South Pacific Regional Hub in Singapore has been generated by on-site solar energy, which also powers the company’s local electric vehicle fleet.

    Advancing towards Low-Carbon Operations

    FedEx has produced over 31 GWh of solar energy at more than 30 locations worldwide to date. The company continues to promote energy conservation, emissions reduction, and low-carbon operations via a mix of emerging technologies, digital innovation, and community sustainability initiatives, including an expanded global electric vehicle fleet, innovative digital tools and the use of emerging technologies such as AI and IoT.

    FedEx also prioritizes sustainability-focused community programs through FedEx Cares, the company’s global community engagement program. Through collaborations with NGOs and local organizations across Asia Pacific, FedEx supports environmental restoration initiatives.

    Questions & Answers

    What is the estimated annual energy production of the new solar installation at the FedEx Shanghai Hub?
    The solar installation at the FedEx Shanghai Hub is projected to generate around 743,000 kilowatt-hours of electricity annually.

    What are some of the renewable energy initiatives across FedEx’s Asia Pacific facilities?
    Some initiatives include using electricity from 2,400 rooftop solar panels at the FedEx Incheon Gateway in South Korea, and supplying over 50% of the electricity at the FedEx South Pacific Regional Hub in Singapore via on-site solar energy.

    What are some of the sustainable initiatives that FedEx has implemented?
    FedEx has implemented a range of sustainable initiatives, including vehicle electrification, innovative digital tools for efficient shipping, deployment of emerging technologies like AI and IoT for operational efficiency, and engaging in sustainability-focused community programs.

  • Vietnam Gold Prices Leap Amid Global Gold Slump: Largest Monthly Drop in Nearly Two Decades

    Vietnam Gold Prices Leap Amid Global Gold Slump: Largest Monthly Drop in Nearly Two Decades

    On Tuesday morning, gold prices in Vietnam experienced an increase, despite global bullion rates experiencing their sharpest monthly fall in nearly two decades. The Saigon Jewelry Company reflected this trend with its gold bar prices ascending 0.63% to VND174.9 million (US$6,640.34) per tael. This price adjustment was echoed by other sellers in the local market.

    Despite a 6.47% decrease this month, local bullion rates have still gained an impressive 14.5% since the beginning of the year.

    The price of gold rings also experienced a similar surge, reaching a price of VND174.7 million per tael. It’s important to note that a tael is equivalent to 37.5 grams or 1.2 ounces.

    Global Bullion Trends

    On the global stage, gold prices experienced an increase on Tuesday. This rise was fueled by the optimism of a de-escalation in the Middle East conflict. However, gold is also facing its worst month in over 17 years due to increased energy prices. These circumstances have diminished hopes for a U.S. interest rate cut within this year.

    Spot gold saw an increase of 1.5%, reaching $4,578.89 per ounce. Similarly, U.S. gold futures for April delivery experienced a 1.2% rise, leveling at $4,611.30.

    Despite these positive changes, bullion has experienced a 13% decrease this month. This puts it on track for its most significant drop since October 2008, largely due to a stronger dollar and dwindling expectations of a U.S. interest rate cut within this year. Despite these challenges, prices remain up by approximately 5% for the quarter.

    The dollar experienced a drop, making commodities priced in the greenback more affordable for holders of other currencies.

    A notable factor influencing gold prices was an announcement from the U.S. President, Donald Trump, stating his willingness to end the U.S. military campaign against Iran. This news triggered a positive response from the financial markets and saw gold prices bounce in the early Asia-Pacific trade, according to Ilya Spivak, the head of global macro at Tastylive.

    Questions & Answers

    What sparked the increase in gold prices in Vietnam?
    The rise in gold prices in Vietnam was primarily due to optimism about a de-escalation in the Middle East conflict and an announcement from the U.S. President about his willingness to end the military campaign against Iran.

    What factors have contributed to the global drop in bullion rates this month?
    The steep drop in global bullion rates has been largely due to a stronger dollar and diminished expectations of a U.S. interest rate cut within this year.

    How has the dollar’s decrease impacted the commodities market?
    As the dollar has fallen, commodities priced in the greenback have become more affordable for holders of other currencies, which can stimulate demand.

  • US Dollar Dominates Vietnamese Dong, Marks Biggest Monthly Gain Since July

    US Dollar Dominates Vietnamese Dong, Marks Biggest Monthly Gain Since July

    On Tuesday morning, the U.S. dollar gained strength against the Vietnamese dong and is set to have its best month since July against significant international currencies. Vietcombank quoted the U.S. dollar at VND26,357, marking a 0.008% increase from its Monday valuation. Meanwhile, the black market saw a 0.28% decline in the currency’s value, bringing it to around VND27,112.

    Vietcombank’s USD/VND Exchange Rate Performance

    The Vietnamese State Bank responded to the U.S. dollar’s performance by increasing its reference rate by 0.008%, bringing it to VND25,102.

    On a global scale, the dollar is on track for its largest monthly gain since last July. This surge in value positions the dollar as the leading ‘safe asset’ in the current economic climate, characterized by escalating military conflict in the Mideast and consequent surges in oil prices, which have increased the risk of a worldwide recession.

    The U.S. dollar index reached its maximum since last May, hitting 100.61 and marking an increase of 2.9% throughout March; this rise is the most significant monthly increase since last July.

    Performance of Other Major Currencies

    Other significant currencies experienced fluctuating fortunes. The yen, for instance, which hit its lowest point since July 2024 the day before, was traded at 159.81 in Asia on Tuesday morning. This represents a monthly decline of approximately 2.4%, due in large part to Japan’s reliance on imported energy resources, the prices of which are soaring.

    The euro also experienced a downturn, slipping 0.3% overnight and is set for a monthly decline of around 3%. The Australian dollar hit a two-month low, coming in at $0.6834 overnight and was traded at $0.6844 in the Asian morning. The New Zealand dollar is also under strain, hitting a four-month low of 57 cents and last traded nearby at around $0.5716.

    The South Korean won fell to its weakest level since 2009. Against the Swiss franc, the U.S. dollar has risen nearly 4% this month, hitting 0.80 francs.

    Questions & Answers

    What was the U.S. dollar’s value against the Vietnamese dong on Tuesday morning?
    The U.S. dollar was valued at VND26,357 on Tuesday morning.

    What is the global performance of the U.S. dollar at present?
    The U.S. dollar is currently experiencing its largest monthly gain since last July, making it the strongest ‘safe asset’ in the current global economic climate.

    How have other significant currencies performed recently?
    The yen and the euro have seen monthly declines of 2.4% and 3% respectively. The Australian and New Zealand dollars have also experienced dips, while the South Korean won has fallen to its weakest level since 2009.

  • HSBC Bolsters China Wealth Management with Strategic Duo Appointment: Max Xu and Samuel Chen

    HSBC Bolsters China Wealth Management with Strategic Duo Appointment: Max Xu and Samuel Chen

    HSBC, the London-based financial institution, recently announced two significant additions to its Chinese wealth management and private banking sector.

    New Leaders at the Helm

    Max Xu has been appointed the head of international wealth and premier banking (IWPB) at HSBC China, with the appointment effective from April 1. In this pivotal role, he will answer to Mark Wang, the CEO of HSBC China and, on a functional level, to Kai Zhang, the head of IWPB in Asia.

    Xu, who holds the current position of head of premier banking at IWPB China, has been a part of HSBC since 2025. His expansive career spanning more than 20 years is marked by his experiences in institutional and consumer banking, making him an ideal fit for this role.

    Strengthening HSBC’s Private Banking Sector

    Simultaneously, Samuel Chen has been entrusted with the role of head of the private bank at HSBC China, effective from April 1. He will report to Xu and will work closely with Lok Yim, the regional head of HSBC Private Bank in the Asia Pacific region.

    Chen has a rich banking career extending nearly 20 years, including nine years with HSBC Private Bank in crucial client-facing roles. His expertise will be invaluable in expanding the private banking sector of HSBC in China.

    Advancing HSBC’s Agenda in China

    These noteworthy appointments of Xu and Chen are a strategic move by HSBC to enhance its leadership team as it furthers its wealth and private banking operations in mainland China.

    Kai Zhang stated that these appointments solidify their dedication to achieving sustainable growth and delivering a superior client experience across the Premier, Premier Elite, and Private Bank continuum in China.

    Questions & Answers

    Who has been appointed the head of international wealth and premier banking at HSBC China?
    Max Xu, a veteran with over 20 years of banking experience, has been appointed to this role.

    Who will serve as the head of the private bank at HSBC China?
    Samuel Chen, who has almost 20 years of banking experience, including nine years in senior client-facing roles at HSBC Private Bank, will assume this role.

    What do these appointments signify for HSBC’s operations in China?
    These appointments reflect HSBC’s commitment to expanding its wealth and private banking services in mainland China, with a focus on sustainable growth and superior client service.

  • Vietnam Soars to 2nd Place in European Poultry Imports: A Boom in Southeast Asia’s Poultry Market

    Vietnam Soars to 2nd Place in European Poultry Imports: A Boom in Southeast Asia’s Poultry Market

    In 2025, Vietnam witnessed an impressive import of over 56,500 tonnes of poultry from Europe, securing the country’s position as the second-largest consumer in Southeast Asia, with the Philippines leading the pack. This considerable import included various products like duck, chicken, and goose from the European Union (E.U.). These figures, released by the European Commission, show the steadily increasing demand for imported poultry products in the country. By January 2026, Vietnam had clinched the top spot as the largest importer of European poultry in the region, with purchases amounting to over 5,300 tonnes.

    Major European Suppliers

    Poland was the key European country supplying poultry to Vietnam, exporting over 37,300 tonnes in the previous year. France trailed behind with about 4,900 tonnes. Other significant contributors were Hungary, Italy, and the Netherlands, with respective exports of 4,680 tonnes, 2,750 tonnes, and 2,170 tonnes.

    According to Dariusz Goszczynski, a representative of the European poultry sector and President of the National Poultry Council under the Polish Chamber of Commerce, Vietnam is a priority market in the region for the E.U.’s poultry industry. This was highlighted during a promotional event in Ho Chi Minh City, under the campaign “European Poultry – From Farm to Fork.”

    Recovery from Pandemic-induced Disruptions

    Poultry importation in Vietnam experienced a downturn during 2021 to 2022 due to the disruptive effects of the Covid-19 pandemic, averaging around 30,000 tonnes per year. However, the volumes have bounced back almost twofold since 2023 as consumption regained momentum.

    Piotr Harasimowicz, the head of the Polish Investment and Trade Agency (PAIH) office in Vietnam, attributed the upswing in imports to the growing consumer trust in European poultry products, renowned for their strict safety and quality standards.

    Future Projections

    Industry professionals expect the demand to continue on an upward trajectory. The annual exports of Polish poultry to Vietnam alone are projected to hit an estimated 45,000 tonnes in the upcoming years.

    According to Agro Monitor, a market data provider, chicken accounted for 33% of Vietnam’s total meat consumption in 2024, a rise from 29% in 2022. This hints at a shift in dietary preferences towards poultry. The average egg consumption per person per year was about 198 eggs, still trailing behind the global average of 250–300 eggs, signifying further potential for market expansion.

    In line with income growth and urbanization, Vietnam’s evolving food consumption patterns are expected to support both domestic livestock development and the continued growth in poultry imports.

    Questions & Answers

    What is the status of Vietnam’s poultry imports from Europe?
    In 2025, Vietnam imported over 56,500 tonnes of poultry from Europe, becoming the second-largest consumer in Southeast Asia.

    Who are the major European suppliers of poultry to Vietnam?
    Poland, France, Hungary, Italy, and the Netherlands are the major European suppliers of poultry to Vietnam.

    What are the future projections for Vietnam’s poultry market?
    The demand for poultry in Vietnam is expected to continue expanding, with annual exports of Polish poultry alone projected to reach about 45,000 tonnes in the coming years. The country’s shifting food consumption patterns, due to factors such as income growth and urbanization, suggest further potential for market growth.

  • Cambodia Slashes Import Duties on EV’s, Solar Devices, and Electric Stoves to Counter Rising Fuel Prices

    Cambodia Slashes Import Duties on EV’s, Solar Devices, and Electric Stoves to Counter Rising Fuel Prices

    In a bid to alleviate the repercussions of escalating global fuel costs resulting from the Middle East conflict, Cambodia has chosen to diminish import duties on electric vehicles (EVs), electric stoves, and solar-powered appliances.

    Curtailing Import Duties

    On March 29, the General Department of Customs and Excise disclosed that the government has resolved to slash import duties from an initial 35% to zero on passenger EVs, electric stoves, and toasters.

    The government further resolved to decrease import duties from 35% to a mere 7% on passenger plug-in hybrid electric vehicles (PHEVs).

    In addition, import duties on chargers for EV batteries, electric rice cookers, and solar lamps have been reduced from 7% to zero.

    New Tariffs from April

    The fresh tariff rates are set to commence on April 1.

    These measures are a response to the dramatic acceleration of fuel prices since the beginning of the Middle East conflict. The government hopes that by reducing import duties on these items, it will encourage more people to switch to using energy-efficient and eco-friendly products, therefore, decreasing the country’s reliance on imported fuels.

    Questions & Answers

    Why is Cambodia reducing import duties on these specific items?
    The government is encouraging the use of energy-efficient and eco-friendly products to lessen the country’s reliance on imported fuels, whose prices have soared due to the Middle East conflict.

    What are the new import duty rates for these items?
    Import duties have been reduced from 35% to zero for passenger EVs, electric stoves, and toasters. For passenger PHEVs, the rate has been reduced to 7% from 35%. Meanwhile, import duties for EV battery chargers, electric rice cookers, and solar lamps have been reduced to zero from a previous rate of 7%.

    When will these new tariff rates take effect?
    The new tariff rates are set to go into effect from April 1.

  • Freitag Bolsters Global Presence with Exclusive Dover Street Market Partnership: A New Era in Retail Strategy

    Freitag Bolsters Global Presence with Exclusive Dover Street Market Partnership: A New Era in Retail Strategy

    Swiss accessory brand, Freitag, is expanding its international retail presence through a multi-faceted partnership with Dover Street Market (DSM). The partnership will consist of both permanent and temporary retail establishments, as well as an exclusive product line.

    Expanding Retail Footprint

    The partnership will activate a recently established Freitag Space at Dover Street Market Ginza and a temporary setup at Dover Street Market London. Both of these retail spaces were introduced on March 28, alongside the launch of a three-item, DSM-exclusive product collection.

    Freitag has stated that this collaboration signifies a move towards a deeper integration within influential multi-brand environments, as opposed to singular retail expansion. Freitag’s product manager and project lead, Oliver Fischhaber, expressed that following their 2023 project with Comme des Garçons, further collaboration with the DSM team was the next logical step.

    An Unmatched Aura

    Fischhaber spoke highly of Dover Street Market, highlighting its unique atmosphere and its inspiration from various angles, cultures, and movements. He expressed admiration for DSM’s customers, describing them as possessing a finely-tuned eye and a profound sense of authenticity. These are qualities that resonate with Freitag and the consumers they aim to engage.

    Focusing on Japan

    The opening in Ginza comes at a time when brands are increasingly prioritizing Japan for retail expansion. This focus is driven by a blend of design-aware consumers and a robust desire for unique, concept-based products.

    Established in Zurich in 1993, Freitag currently manages 30 stores globally, with Japan hosting four of these locations.

    Questions & Answers

    What is the nature of Freitag’s partnership with Dover Street Market?
    The partnership will consist of both permanent and temporary retail establishments, as well as an exclusive product line.

    What does this collaboration signify for Freitag?
    This collaboration signifies Freitag’s move towards a deeper integration within influential multi-brand environments, as opposed to singular retail expansion.

    Why is Japan a focus for brands’ retail expansion?
    Japan is a focus for retail expansion due to its blend of design-aware consumers and a robust desire for unique, concept-based products.

  • Cotton On Group Dissolves Inactive Singapore Entity in Strategic Asian Restructuring Move

    Cotton On Group Dissolves Inactive Singapore Entity in Strategic Asian Restructuring Move

    The Australian fashion retail giant, Cotton On Group, has announced the shuttering of its regional division, Cotton On Asia. This decision comes in the wake of a resolution passed by shareholders that approved the winding up of the business and the appointment of liquidators.

    Despite the closure of this regional subsidiary, Cotton On Group has no intentions of withdrawing from the Asian market. Cotton On Australia’s main office has clarified that the liquidated entity was not responsible for operating any stores or hiring employees.

    “We have no plans to exit the Asia region,” a company representative stated.

    It was further explained that Cotton On Asia was an inactive holding company and its existence was no longer necessary. The closure will not affect customers, team members, stores, suppliers or operations within the Asian region in any way.

    Official documents from the Government Gazette reveal that the Singapore-based entity has entered a creditors’ voluntary liquidation. This action was a result of an extraordinary general meeting where members passed a special resolution under the Insolvency, Restructuring and Dissolution Act 2018.

    This move is reportedly part of a more extensive restructuring of the group’s corporate setup in Asia. Although the details have not been specified, it is generally believed that such actions are intended to streamline legal structures and enhance operational efficiency across different markets.

    Cotton On was first established in Singapore in 2007 and over the years have expanded its brand portfolio. The group now includes a variety of brands such as Cotton On, Cotton On Body, Cotton On Kids, Typo, and Rubi.

    The company was founded by Nigel Austin, who still maintains control over the business operations.

    Questions & Answers

    What is the reason behind Cotton On Group closing its regional division, Cotton On Asia?
    The closure is part of a broader restructuring strategy of the group’s corporate setup in Asia, aimed at streamlining legal structures and enhancing operational efficiency across different markets.

    Will the closure of Cotton On Asia affect the company’s operations in the region?
    No, the company has made it clear that the closure of this division will not impact customers, team members, stores, suppliers, or operations within the Asian region.

    Who founded Cotton On Group, and who currently oversees its operations?
    The Cotton On Group was founded by Nigel Austin, who continues to control the business operations.

  • Meituan’s Struggles Continue Amidst Food Delivery Frenzy: Can Signs of Easing Price War Restore Profits?

    Meituan’s Struggles Continue Amidst Food Delivery Frenzy: Can Signs of Easing Price War Restore Profits?

    Meituan, the leading food delivery company in China, reported its second consecutive quarterly loss, slightly missing revenue growth forecasts. This comes after a year of aggressive, subsidy-intensive competition in China’s one-hour delivery market.

    Meituan’s revenue growth and profits have been under pressure for several consecutive quarters since the introduction of new ‘instant retail’ platforms by e-commerce heavyweights Taobao, which is owned by Alibaba, and JD.com in early 2025.

    The term ‘instant retail’ or ‘quick commerce’ refers to online orders that typically include food, bubble tea, and everyday items, delivered within an hour.

    However, the early part of 2026 has signaled a potential slowdown in the instant retail pricing battle, which has been condemned as a “race to the bottom” by Chinese regulatory bodies.

    For the quarter ending on December 31, Meituan’s revenue reached 92.1 billion yuan (approximately US$13.3 billion), marking a 4.1% increase from the previous year. This figure is slightly below the 92.2 billion yuan analysts had predicted.

    The company managed to reduce its adjusted net loss to 15.1 billion yuan, down from 16 billion yuan in the third quarter. This is a stark contrast to the same period a year earlier, when Meituan reported a profit of 9.8 billion yuan.

    During a post-earnings call with analysts, Meituan’s CEO, Wang Xing, claimed that the regulatory stance on the instant retail competition is “already quite clear”. Wang stressed that regulatory authorities are vehemently against the escalating ‘neijuan’ competition and are keen on promoting a healthy, orderly market. ‘Neijuan’, or ‘involution’, refers to a situation where individuals or companies are forced into intensifying competition that yields minimal benefits.

    Earlier in the week, Meituan’s shares experienced a surge of 14% following the re-publication of a state media editorial by Chinese regulators. The editorial called for an end to the ongoing food delivery price wars, and its re-publication was perceived by industry experts as an official endorsement.

    Questions & Answers

    What is ‘instant retail’?
    Instant retail, also known as quick commerce, refers to online orders typically comprising food, bubble tea, and daily use items, delivered within an hour.

    What does ‘neijuan’ mean?
    ‘Neijuan’, or ‘involution’, refers to a situation where companies or individuals are pushed into a state of intensifying competition that brings very little benefit.

    What was the response of the market to the call for an end to the food delivery price wars?
    Following the re-publication of a state media editorial that called for an end to the food delivery price wars, Meituan’s shares experienced a 14% increase, suggesting a positive market response.

  • Air China Soars Back to North Korea After Six-Year Hiatus: A Positive Shift Towards Open Borders

    Air China Soars Back to North Korea After Six-Year Hiatus: A Positive Shift Towards Open Borders

    After a six-year break, Air China has reinstated direct flights from Beijing to Pyongyang. This comes as another indication that North Korea is gradually becoming more accessible, following the reestablishment of train services between the two capitals.

    Resumption of Flight Services

    Air China’s Flight CA121 took off from Beijing Capital Airport at 7:58 a.m. and touched down at Pyongyang’s Sunan International Airport at 10:37 a.m. The aircraft used for the journey was a Boeing 737-700, which has a passenger capacity of up to 128. However, only individuals with business or study purposes or those with special reasons are currently allowed to undertake the cross-border trip.

    Chinese ambassador to North Korea, Wang Yajun, along with other Chinese diplomats, welcomed the passengers upon their arrival at the airport.

    Passenger Perspectives

    Among the passengers ready to embark on the flight was business traveler Zhao Bin, who conveyed positive sentiments about the resumption of services. He anticipates that the increased availability of transportation options will enhance travel and communication between the two countries. Zhao, a frequent visitor to North Korea, said that the renewed flight service will significantly benefit those who regularly journey between Beijing and Pyongyang.

    In addition, Zhao expressed his eagerness to explore North Korea’s diverse culinary scene and looked forward to the potential strengthening of relations between the two nations due to increased exchange.

    Implications for Tourism

    The cost of economy class tickets for the flight was around $200. A return flight from Pyongyang is planned for midday.

    While this is a promising step, there is still no clear information regarding the resumption of tourism for Western visitors. Before the pandemic, Chinese tourists made up the majority of foreign visitors in North Korea, with approximately 350,000 in 2019, making it a significant source of revenue for Pyongyang.

    By contrast, around 5,000 Western tourists visited North Korea annually from 2009, with U.S. citizens making up 20% of these numbers.

    Slow Reopening

    North Korea has been slower in reopening its borders fully compared to China. The country resumed direct flights and train services with Russia last year, and state carrier Air Koryo reinstated flights from Beijing to Pyongyang in 2023.

    Questions & Answers

    What is the capacity of the Boeing 737-700 used for the flight between Beijing and Pyongyang?
    The Boeing 737-700 used for the flight can accommodate up to 128 passengers.

    Who are currently allowed to travel between Beijing and Pyongyang?
    Only individuals traveling for business or study purposes or those with special reasons are currently allowed to undertake the cross-border trip.

    How many Chinese tourists visited North Korea before the pandemic?
    Before the pandemic, Chinese tourists made up the majority of foreign visitors in North Korea, with approximately 350,000 in 2019.

  • Ikea’s Grand Expansion: 25 New Stores to Enliven India’s Retail Landscape by 2027

    Ikea’s Grand Expansion: 25 New Stores to Enliven India’s Retail Landscape by 2027

    Swedish furniture giant Ikea is broadening its reach in India with the inauguration of a new 3000 square foot store in Pune. This move is a continuation of the company’s assertive expansion across the country, adding to its already established locations in prominent cities such as Hyderabad, Navi Mumbai, Bengaluru, Mumbai, and New Delhi.

    Growth Plans in India

    Over the next half-decade, Ingka Group, Ikea’s parent company, has outlined its plans to establish an additional 25 small and medium-sized stores nationwide. This is part of the company’s aggressive multi-format growth strategy that aims to expand their influence in the Indian market.

    In addition to these smaller shops, large-format stores are also in the works as part of Ikea-owned shopping centres in the outskirts of New Delhi. The first of these larger establishments is scheduled to open in Gurugram, with Noida following suit.

    A Strong Understanding of the Local Market

    Ikea India’s CEO, Patrik Antoni, is confident in the company’s understanding of the local market. This confidence stems from the successful navigation of unique customer needs in different regions across the country.

    Antoni stated, “We can inspire more people to make the most of their living situations – offering ideas and solutions that may be new to many people in India. Expanding our network and becoming more accessible is key to that.”

    Questions & Answers

    What is Ikea’s expansion plan in India?
    Over the next five years, Ingka Group, Ikea’s parent company, plans to establish 25 small to medium-sized stores across the country. They are also developing large-format stores outside New Delhi as part of Ikea-owned shopping centres.

    Where are Ikea’s new large-format stores being built?
    The new large-format stores are being planned outside of New Delhi. The first of these stores is set to open in Gurugram, followed by Noida.

    What is Ikea’s approach to the Indian market?
    Ikea aims to inspire more people in India to optimize their living situations by introducing them to novel ideas and solutions. They believe that expanding their network and enhancing their accessibility is the key to achieving this objective.

  • Misto Holdings Amplifies K-fashion Revolution: 100+ Retail Outlets and New Brand Launches in Greater China on the Horizon

    Misto Holdings Amplifies K-fashion Revolution: 100+ Retail Outlets and New Brand Launches in Greater China on the Horizon

    Misto Holdings is set to broaden its reach in the Greater China region, bringing a multitude of Korean fashion brands to the rapidly growing market. The company’s portfolio consists of brands such as Matin Kim, Marithé+François Girbaud, Raive, and Rest & Recreation. It aims to manage over 100 retail units by mid-year.

    Misto Holdings reports that its brands have shown a substantial early rise. Mardi Mercredi, for example, saw its sales increase by 190 per cent in its second year, while Raive experienced a 200 per cent growth in its first year.

    In terms of digital presence, Misto Holdings oversees platforms like Tmall, Xiaohongshu, and Douyin. It uses a blend of in-house content, live-commerce studios, and influencer collaborations to interact with local consumers.

    Moreover, the company is re-evaluating its Greater China portfolio this year. It aims to diversify into men’s high-end contemporary, women’s casual, and athleisure categories. Commencing next year, the plan is to introduce approximately five new brands in the region.

    Misto Holdings emphasizes that its focus is on sustainable, long-term brand growth across both online and offline channels.

    “We are not just managing brands; we are long-term partners dedicated to building brand value across both online and offline touchpoints,” said a spokesperson for Misto Holdings. “Our focus remains on building sustainable brand equity across the Greater China region.”

    Earlier this month, Misto Holdings also announced a surge in fourth-quarter sales as the company restructured its US operations.

    Questions & Answers

    What is the expansion plan of Misto Holdings in the Greater China region?
    Misto Holdings plans to introduce multiple Korean fashion brands to the market and aims to manage over 100 retail units by the middle of this year.

    What digital platforms does Misto Holdings manage and how does it reach local consumers?
    Misto Holdings manages platforms like Tmall, Xiaohongshu, and Douyin. It reaches local consumers through a blend of in-house content, live-commerce studios, and influencer collaborations.

    What is the focus of Misto Holdings?
    The company is focused on sustainable, long-term brand growth across both online and offline channels. It aims to build brand value across both online and offline touchpoints in the Greater China region.