Author: Mei Ling Tan

  • Rich Sport seeks IPO for international expansion

    Rich Sport seeks IPO for international expansion

    Thailand’s sole distributor of Converse footwear and sportswear, Rich Sport has submitted its filing for an IPO on the Stock Exchange of Thailand this year.

    It is hoping to raise funds to expand internationally.

    Rich Sport has been making and distributing the Converse brand in Thailand for 14 years. It has 41 retail shops and 11 counters in department stores. It reported revenue of THB601.12 million and net profit of THB122.16 million for its first half this year.

    According to its filing, the company is looking at issuing 200 million IPO shares, equivalent to about 26 per cent of its registered capital. Of that, 195 million shares will be offered to the public while the balance will be allotted to employees and subsidiaries.

    Rich Sport Holdings owns 30 per cent of shares, and the rest is held by three members of the Wongpaitoonpiya family at 23.33 per cent each. After the IPO, Rich Sport Holdings’ share will be diluted to 22.21 per cent.

  • Countdown bans the bag

    Countdown bans the bag

    Supermarket giant Countdown will remove single-use plastic bags from its stores and e-commerce operations by the end of 2018.

    The move – which means 350 million shopping bags will be taken out of the system – has been welcomed by industry associations.

    In its press announcement today, Countdown’s managing director Dave Chambers said 83 percent of its customers support the plan.

    “We are now calling on the new government to step in and regulate to completely stamp out single use plastic bags,” he said.

    “Regulatory action gives the best outcome for our oceans and sea life, and will mean a universal approach that is fair for all retailers.”

    Retail NZ says it’s great news that Countdown is moving to phase out plastic bags and congratulates all retailers that have taken steps to reduce the number of plastic bags being issued.

    “There is increasing customer demand for action by retailers on plastic bags, and we have also seen New World recently launch bagvote.co.nz to ask its customers whether or not it should introduce a charge on bags” said Greg Harford, Retail NZ’s general manager for public affairs.

    “A number of other retailers have also taken action, and we think this will increase over time.

    “Ultimately, retailers will be led by their customers.  Customers have traditionally expected a bag when they go shopping, but there seems to have been a change in public opinion, and retailers are responding to that.”

    Harford added that many businesses in the retail sector are attempting to reduce their environmental impacts and government leadership through regulation is still required to “ensure that there is a clear, consistent and universal approach” across the sector.

    “Industry action should not be seen as an excuse by government to dodge its responsibilities, however,” he said. “Ultimately, it’s important that any solution regarding plastic bags is universal, and applies to all retailers.”

    Countdown’s bag ban was also praised by Greenpeace, who said the move “makes them leader of the pack on plastic reduction”.

    “They’ve realised how strongly the New Zealand public sees these bags as pure environmental craziness,” said Greenpeace campaigner Elena Di Palma. “Better than that, they’ve done something about it.”

    “We’d like to see Foodstuffs and New World, who are considering a 5 or 10 cent charge on bags, to match Countdown’s boldness and eliminate this marine menace”

    Auckland mayor Phil Goff said if other businesses made efforts to reduce plastic bag use and the government introduces a levy on plastic bags, “that around 500 to 600 million plastic bags” a year could be cut out in Auckland alone.

    “Charging or banning plastic bags cannot be introduced through a council bylaw and I will continue to work with MPs to promote a change through a local bill in parliament,” he said.

  • South Pacific and Asia flights from $99 on AirAsia

    South Pacific and Asia flights from $99 on AirAsia

    It’s almost the end of the year and to get you through the last of 2017, AirAsia has a flight sale that’ll take you across its entire network from October 2017 to March 2018 for as little as $99.

    This super low fare is on journeys from Darwin to Bali and is one-way only. Fly return though and you won’t have to pay the cost of two one-way fares when you book through Flight Centre. Instead, you’ll pay a fraction of the cost as we found return flights down to $129. This is on journeys from 12-15 November, though these aren’t the only dates you can travel to revel in this fare.

    It’s not the only destination you can take off to in this sale either. Other cities you can discover include Kuala Lumpur from $119 (departing Perth), Auckland from $139 (departing Gold Coast) and Phuket from $183 (departing Perth).

    Flights depart from Melbourne, Sydney, Perth and Gold Coast with most including a stopover in Kuala Lumpur.

    While this sale is on travel between 2 October 2017 and 31 March 2018, blackout dates still apply during the peak Christmas season.

    As AirAsia is a budget carrier, your ticket to fly doesn’t include checked luggage or in-flight meals and entertainment. However, you can add these on for a fee during the booking process.

    This AirAsia Year-End sale ends 15 October 2017 or until seats sell out.

  • Superga Singapore opening third store

    Superga Singapore opening third store

    Superga Singapore will open its third retail store on Friday, at Westgate Mall, Jurong.

    It will be the biggest Singapore store yet for the Italian shoe brand, covering 800sqft (74sqm).

    As well as the brand’s signature white interior, the store features a red background for the first time.

    To celebrate the launch of the store, five exclusive sneakers will be available at Superga Westgate, as well as the launch of the Superga X Marvel collection inspired by Captain America.

    Also exclusive to the store will be new items like the Superga 2750 Multi Sole and Superga 2750 Espadrille from the seasonal range – on sale for just the first week.

    For each of the first three days, the first 30 customers will receive a S$30 (US$22) Superga voucher.

  • Lagardere Travel Retail unveils new stores at Gold Coast Airport

    Lagardere Travel Retail unveils new stores at Gold Coast Airport

    Lagardere Travel Retail has introduced its latest destination concept stores, ‘Out of Australia’, at the Gold Coast airports international terminal.

    Awarded five sites as part of a competitive tender process held in late 2016, Lagardere has also unveiled concessions in Gold Coast Airport’s common user terminal. The sites cover both international and domestic departure lounges, as well as arrivals.

    In tandem with newly unveiled The Gold Coast Store’ at domestic departures, the travel retailer has also upgraded the Aelia Duty Free store and added the world’s largest travel essentials brand, RELAY, to the retail mix in the international lounge.

    The revised offer showcases key brand installations including Bundaberg Rum, Sunglass Hut and tech2go to cater to the change in passenger profiles. Along with increasing its presence in an online platform, the new offers are designed to enhance the overall passenger experience.

    These new developments are all in conjunction with Gold Coast Airport’s preparation for the 2018 Commonwealth Games being held on the Gold Coast.

    “We’re delighted to deliver new and innovative concepts to the Gold Coast Airport, offering the passengers a complete travel essentials, destination and duty free offer, with a strong mix of local flavour and true sense of place” said Matthieu Mercier, Lagardere Travel Retail CEO of Pacific region.

    “We have enjoyed a long and successful partnership with the airport since 2002, so are excited to be part of this redevelopment phase.”

    Deborah Price, general manager commercial of Gold Coast Airport said the new concepts brought a “different dimension with a more sophisticated souvenir offer” and been well received.

    “This is all part of upgrading and enhancing the passenger experience in preparation for the Commonwealth Games in April 2018,” she added.

  • Uniqlo’s Hana Tajima collection displayed at Museum of Modern Art

    Uniqlo’s Hana Tajima collection displayed at Museum of Modern Art

    Japanese fashion retailer Uniqlo’s Hana Tajima range is being exhibited at the Museum of Modern Art (MoMA) in New York.

    The exhibit, “Items: Is Fashion Modern?”, is the first that MoMA has  dedicated solely to fashion design since 1944, and highlights 111 influential garments and accessories that have had a profound effect on the world over the last century.

    The items that were chosen by the Museum include the Hana Tajima for Uniqlo AIRism Printed Stole and Hana Tajima for Uniqlo AIRism Inner Hijab. Both were selected for the exhibition’s modesty-themed section  entitled “Emancipation/Modesty/Rebellion”.

    The hijab items employ AIRism – a unique, smooth texture, breathable fabric with cooling properties to enhance comfort.

    The partnership between Uniqlo and New York-based, British-born designer Tajima first appeared in the company’s Fall/Winter 2015 line in Malaysia, Singapore, Thailand, and Indonesia. Following its success, the collection later appeared in the US, the UK, and Philippines for Spring/Summer 2016 and now in 15 countries.

    According to the retailer, the purpose of the partnership is reflective of Uniqlo’s commitment to offer apparel that complements diverse lifestyles and cultural settings.

    It added the collection is intended for women who seek comfortable clothing that is not too tight and versatile enough to appeal to all women of all backgrounds, regardless of age, race or religious belief.

    “Hana was a clear choice of partners when we set out to create this collection, as we have a shared aesthetic and a similar approach to design,” stated Shu Hung, Global creative director, Brand Experience and Special Projects at Uniqlo. “With Hana, we have achieved distinctive collections that combine her creativity with our commitment to high-quality, advanced materials that provide the best experience for our customers who seek modest wear.”

    The exhibit is open to the public from October 1, 2017 to January 28, 2018.

  • Central Group buying Dean & Deluca rights outside US

    Central Group buying Dean & Deluca rights outside US

    Thailand’s Central Group is set to acquire the Dean & Deluca chain of deli-cafes outside the US from Thai luxury property developer Pace Development for US$50 million.

    The deal is in the due diligence process, says Pace, which acquired the chain through its subsidiary Pace Food Retail for $140 million in 2014. Dean & Deluca was founded in the US in 1977.

    Under the agreement, the Thai retail giant will be licensed to run and expand the business outside the US while Pace retains ownership of the brand, runs the chain in the US and owns the right to produce and distribute consumer products under the Dean & Deluca trademark.

    Pace CEO Sorapoj Techakraisri says Central Group has the financial resources, expertise and knowledge to handle the day-to-day business of the stores, logistics and licensee relationships.

    “Having Central as a partner will give Dean & Deluca healthy growth globally,” he says.

    Pace, which develops luxury residential properties, has reported operating losses for five consecutive quarters, reaching THB1.7 billion ($50.9 million) last quarter.

    Currently, the company is developing four projects worth THB34 billion in total, including the Ritz-Carlton Residences Bangkok.

    The original Dean & Deluca was an iconic delicatessen in New York which continues to trade to this day. In Thailand, Pace converted the concept into more of a cafe business, before expanding outside Thailand, including in the Middle East, Tokyo, Seoul, Singapore and the Philippines. It was pursuing an aggressive expansion strategy in Asia.

  • Brussels to hit Amazon with large tax bill

    Brussels to hit Amazon with large tax bill

    Online retail giant Amazon will reportedly be slapped with a tax bill worth several hundred million euros following a lengthy EU investigation into a sweetheart tax deal with Luxembourg.

    The EU’s competition commissioner Margrethe Vestager is expected to issue her decision on Wednesday following a near three-year investigation into whether Amazon’s tax affairs complied with state aid rules, according to the Financial Times, which cited sources.

    The probe, which was launched in October 2014, looked at a 2003 tax agreement between Luxembourg and the retailer that saw most of Amazon’s European profits recorded in the country, but not fully taxed.

    Both Amazon and the European Commission declined to comment.

    It would be the latest EU regulatory decision to affect a major US firm, with Vestager putting the tax affairs of a number of high-profile targets including Amazon under the microscope in recent years.

    The EU Commission last year hit US tech giant Apple with a 13 billion euro ($A20 billion) tax bill in the wake of an investigation which found that Apple paid 50 euro in tax for every one million of profit made outside the US in 2014.

    The government and Apple are both appealing against the decision.

    McDonald’s is also facing fire from EU antitrust officials who are investigating claims that the fast food giant avoided more than 1 billion euro in tax through the use of a royalties loophole in Luxembourg.

    When it launched its investigation in 2015, the European Commission said the European arm of McDonald’s had paid virtually no corporation tax in Luxembourg or the US since 2009, despite making significant profits in the division.

    McDonald’s subsequently announced this past December that it was moving its non-US tax base to the UK, as it battled EU regulators over its tax affairs.

  • Puregold Price Club enters Western Visayas

    Puregold Price Club enters Western Visayas

    Puregold Price Club has bought five supermarkets in Roxas City, its first move into the Western Visayas.

    This takes the group’s nationwide store network to 313. The cost of the acquisitions has not been disclosed.

    Puregold has been expanding outside Luzon with construction of its second store in Leyte expected to finish next month.

  • Global e-commerce expected to double in next five years

    Global e-commerce expected to double in next five years

    Global e-commerce continues to revolutionise the air cargo industry, and is forecast to increase 19 per cent a year over the next five years, from US$1.9 trillion in 2016 to US$4.5 trillion in 2021, according to the annual E-Commerce Revolution Report released recently by Air Cargo Management Group (ACMG). The 2017 E-Commerce Revolution Report provides an in-depth look at the explosive growth of global e-commerce air logistics.

    The report features fresh and insightful analysis of the major marketplaces, sellers, and logistics providers that are fuelling this revolution. It is not just the best-known participants, such as Amazon and Alibaba, driving this revolution, but also global express airlines, along with players lesser known outside their home countries, such as JD.com in China and Otto in Germany. The report tracks the companies using and providing e-commerce air logistics, and offers insights on global trends in the industry.

    “E-commerce has disrupted retail and is now revolutionising logistics,” said Alan Hedge, senior director of Air Cargo Management Group. “This, our second annual report, builds on the strengths of the first and covers new territory by offering descriptions of additional e-commerce companies and additional discussion of fulfilment networks in China, the largest e-commerce market on the planet.”

    New for the E-Commerce Revolution Report this year is a web-based companion database tool for exploring relationships between major e-commerce players and logistics providers. The tool allows users to search particular logistics providers and users to isolate logistics transactions worldwide. Additionally, the tool can be used to quantify e-commerce air logistics transactions on a global basis.

  • RCom-Aircel merger deal collapses

    RCom-Aircel merger deal collapses

    India’s Reliance Communications (RCom) has called off a planned merger of its wireless business with rival Aircel as a result of regulatory uncertainty and opposition from some creditors.

    RCom had been planning to merge its wireless business with Aircel to create a 50:50 joint venture with Aircel parent company Maxis, in a deal aimed at reducing its debt burden by around $3 billion.

    But the company announced on Sunday that its merger agreement with Aircel has now “lapsed by mutual consent” due to “legal uncertainties” and “interventions by vested interests” – referring to creditors to the company.

    RCom will now have to pursue alternative methods of reducing its substantial debt burden of around 450 billion rupees ($6.8 billion).

    LiveMint reports that the operator now plans a fire sale of assets ranging from spectrum to real estate as part of a plan to reduce its debt by around 250 billion rupees. This will partly involve adopting a 4G focus to allow it to monitize its existing 2G and 3G spectrum.

    RCom is also planning to sell its tower business and had been seeking to fetch around 110 billion rupees from the sale, but this will need to be revised now that Aircel’s tenancies will no longer be included in the deal.

  • Legacy networks to hamper hybrid cloud adoption

    Legacy networks to hamper hybrid cloud adoption

    Nearly all APAC IT decision makers (99%) agree that legacy network infrastructure will struggle to  keep pace with the changing demands of the cloud and hybrid networks, according to a survey by Riverbed Technology.

    The global survey, which includes responses from 1,000 IT decision makers across nine countries – including Japan, China, India and Australia — revealed a very high level of agreement that legacy infrastructures are holding back their cloud and digital strategies.

    In addition, 93% of respondents say their organization’s cloud strategy will only reach its full potential with a next generation network, and 98% agree that a next-gen network is critical to keep up with the needs of their business and end users.

    The survey also found there is a current gap in the adoption of next generation technology such as SD-WAN that will accelerate the cloud and digital transformation, however a tipping point is near.

    Of the APAC IT decision makers surveyed, 92% plan to migrate to SD-WAN within the next four years, up from just 6% today.

    Currently, performance pains experienced by businesses in APAC are glaring, as nearly half (48%) report that they experience cloud-related network issues specifically caused by their legacy infrastructure a few times a month or more; and 90% said it impacts their business at least monthly.

    But 85% of these same decision makers say they are still several years away from reaching the full potential of digital transformation, in part due to their legacy infrastructure. This number jumps to 90% for respondents in China and 94% in Japan.

    This gap between realization and actual deployment is consistent from companies across verticals such as financial, manufacturing, retail, energy and utilities, communications and media, and IT services, and could threaten their competitive positions in their respective markets.

    While a current gap exists in the adoption of next-gen technology to support cloud and digital transformation in the enterprise, this is changing quickly. Of those surveyed, 97% agree that within two years SD-WAN technology will be critical in next generation networks to manage cloud and hybrid.

    While only 6% of those surveyed are currently benefiting from SD-WAN today (slightly higher than the global average of 4%), more than half (57%) plan to migrate to SD-WAN within two years, and 92% within four years.

  • Cebu Pacific seeks extended travel tax exemption for some SE Asia routes

    Cebu Pacific seeks extended travel tax exemption for some SE Asia routes

    Cebu Pacific on Tuesday urged the government to extend the travel tax exemption on routes within Palawan, Mindanao and neighboring Southeast Asian countries, which expires next month.

    Travelers coming from the two Philippine islands who are going to Brunei, Indonesia and Malaysia were exempted from the P1,620 duty for 3 years from Oct. 24, 2014 to promote BIMP-EAGA, a Southeast Asian growth area.

    President Rodrigo Duterte also recently pushed for the revitalization of the BIMP-EAGA or the Brunei-Indoneseia-Malaysia-Philippines East Asia Growth Area.

    “We believe that this would provide relief to the Filipino travelers and accelerate trade and tourism between the member countries, in accordance with the spirit and intent behind the creation of BIMP-EAGA,” said Cebu Pacific vice president for corporate affairs JR Mantaring.

    The Mindanao Development Authority serves as the Coordinating Office of the Philippines for BIMP-EAGA.

    Cebu Pacific subsidiary Cebgo will start its Zamboanga-Sandakan route on October 29, 2017. The 4 times weekly service (Tuesdays, Thursdays, Saturdays, and Sundays) is the carrier’s 27th international destination.

  • Many office LANs reaching performance limits

    Many office LANs reaching performance limits

    Local area networks in many existing office buildings are reaching their limits in terms of performance, according to R&M, a Switzerland-based cabling systems developer and provider.

    Citing a study carried out by market research organization BSRIA, R&M notes that approximately 80% of the office buildings and functional buildings in western industrialized countries were built before 1990.

    The structured cabling in these buildings also usually dates from when the buildings were built. At that time, the LAN was designed for a maximum transmission performance of 1 Gigabit Ethernet.

    “If office networks are to remain usable for the next 20 years, they will require a performance of ten times this at 10 Gigabit Ethernet in future. This is in addition to robust protection against external interference, among other aspects,” commented Matthias Gerber, market manager for LAN Cabling at R&M.

    Gerber gives four decisive factors which, from the point of view of R&M, make a generational change in structured office and building cabling unavoidable:

    Data throughput: If a large number of computer workstations within a company have to quickly access virtual machines, cloud services and software, then an increase in IP traffic is inevitable. “And all at a scale that has never been seen before,” commented Gerber. For productive work to remain possible, the LAN requires greater performance and system reserves.

    Latency: The current trend towards integrated communication with IP-based phone, conferencing and video services requires a latency-free, secure signal transmission. Bandwidth reserves are required in order to be able to ensure these special requirements are met in parallel with normal data transmission.

    Wireless: Nowadays, every commercial building must support mobile communication and its high demand for bandwidth. This requires an increasingly denser network of access points. The many wireless LAN antennas have to be connected to a powerful cabling system. The next generation of wireless access points will require a 10 Gbit/s uplink,” explained Gerber.

    Convergence: The local data network will also cover the needs of IP-based building automation in future. Standardized IP networks and Power over Ethernet are used to integrate virtually every building function as part of the Internet of Things (IoT). Intelligent building management also helps to increase safety and brings added comfort for building users.

    “The Internet of Things with its soon-to-be 33 billion end devices – whether in intelligent buildings or smart cities – needs convergent network infrastructures in order to reach its full potential. Ubiquitous, robust LAN access points are needed,” Gerber said.

  • Aeon Indonesia shifts focus to entertainment

    Aeon Indonesia shifts focus to entertainment

    Aeon Indonesia is putting the accent on entertainment in its new mall, Jakarta Garden City.

    About an hour’s drive east from the city centre, it is the Japanese retailer’s second location after two years in Indonesia.

    Jakarta Garden City devotes relatively little space to traditional retail like clothing (H&M and Uniqlo will not be found there). Instead, it focuses on interactive experiences, and more than half of its 227 tenants are foodcourt stalls or restaurants.

    It also house Indonesia’s first skating rink to meet international standards, a movie complex and Fanpekka, a Scandinavian-style educational center for children. On the roof is one of the country’s largest Ferris wheels.

    Aeon is marketing Jakarta Garden City as Indonesia’s largest entertainment mall.