Retail News CRM

Author: Mei Ling Tan

  • Ben & Jerry’s co-founder quits, citing loss of independence

    Ben & Jerry’s co-founder quits, citing loss of independence

    Jerry Greenfield, co-founder of the renowned ice cream brand Ben & Jerry’s, has announced his departure from the company. His exit comes as a result of the eroding independence that he and fellow co-founder Ben Cohen had established within the company’s governance structure when they sold the enterprise to Unilever over 20 years ago.

    An Emotional Departure

    In a public statement, Greenfield conveyed his deep sadness and regret over his decision to leave the company. He stated, “It’s with a broken heart that I’ve decided I can no longer, in good conscience, and after 47 years, remain an employee of Ben & Jerry’s.” Greenfield clarified that his decision to leave was not due to a loss of affection for his colleagues at the company, but rather due to the company’s dwindling autonomy.

    Ben & Jerry’s, which was acquired by Unilever in 2000, has a well-known reputation for advocating social justice issues. Greenfield noted that the company has traditionally used its independence to take a stance and vocalize their support for peace, justice, and human rights in relation to real-world events. He expressed his profound disappointment over the fact that this independence, which was a fundamental condition of their sale to Unilever, has disappeared.

    Unilever’s Response

    In response to Greenfield’s exit, a spokesperson for Unilever expressed the company’s gratitude for Greenfield’s tenure and contributions. Although the spokesperson mentioned that the company disagreed with Greenfield’s standpoint, they extended their appreciation to him for his decades of service and wished him all the best in his future endeavors. The spokesperson also mentioned the company’s attempts to involve both co-founders in discussions aimed at reinforcing Ben & Jerry’s value-based position in the world.

    Questions & Answers

    Why has Jerry Greenfield decided to leave Ben & Jerry’s?
    Greenfield has chosen to leave due to the perceived loss of the company’s independence, which he believes was a fundamental aspect of the company’s sale to Unilever.

    What was Ben & Jerry’s reputation prior to its acquisition by Unilever?
    Prior to its acquisition by Unilever, Ben & Jerry’s was known for its outspoken stance on various social justice issues. The company often used its independent status to vocalize support for peace, justice, and human rights in relation to real-world events.

    What was Unilever’s reaction to Greenfield’s departure?
    Unilever expressed gratitude for Greenfield’s contributions and service to the company, despite disagreeing with his perspective on the company’s autonomy. The company also conveyed their attempts to involve both co-founders in discussions aimed at bolstering Ben & Jerry’s value-based position in the world.

  • L Catterton targets Japan’s furniture sector with stake in Seki Furniture

    L Catterton targets Japan’s furniture sector with stake in Seki Furniture

    L Catterton, an investment firm supported by luxury goods group LVMH, has entered into a strategic partnership with Seki Furniture, a prominent furniture producer and retailer in Japan.

    Established in Okawa in 1968, Seki Furniture originated as a wholesaling business and has since evolved into a leading omnichannel company. Currently, it operates 26 retail outlets, incorporating its Crash Gate brand, and maintains a formidable online presence.

    Seki controls the majority of Japan’s wholesale residential furniture market and is broadening its reach into sectors such as offices, hotels, restaurants, and hospitals.

    The company is backed by an expert in-house design team and an extensive supplier network. Its brands, notably Relaxform, garner recognition for their design, quality, and affordable pricing.

    CEO Hideki Haruta stated, “Moving ahead, we aim to collaborate with L Catterton to achieve additional medium- to long-term growth and augment our corporate value. We remain committed to providing our customers with services and products that offer enduring value.”

    This investment follows L Catterton’s previous investments in home furnishing businesses, including Restoration Hardware and Boll & Branch.

    Earlier this year, L Catterton entered into a strategic agreement with Megabass, a high-end Japanese fishing gear manufacturer, to assist in the company’s expansion.

    Questions & Answers

    What is Seki Furniture’s current market position in Japan?
    Seki Furniture holds the largest share of Japan’s wholesale residential furniture market and is expanding into sectors such as offices, hotels, restaurants, and hospitals.

    What kind of brands does Seki Furniture have?
    Seki Furniture has several brands under its umbrella, notably Relaxform, which is well-recognised for its design, quality, and pricing.

    Who has L Catterton previously invested in within the home furnishing sector?
    L Catterton has previously invested in home furnishing companies such as Restoration Hardware and Boll & Branch.

  • Friends forever: Central Perk Coffeehouse to open in Times Square

    Friends forever: Central Perk Coffeehouse to open in Times Square

    Fans of the iconic sitcom “Friends” are in for a treat as they will soon have the chance to gather for a cup of coffee in the well-known fictional New York cafe made popular by the show.

    Warner Bros Discovery Global Experiences has teamed up with Central Perk Coffee C and CenPer Holdings to set up a Central Perk Coffeehouse in Times Square, New York City. The launch is scheduled for the later part of this fall.

    Coffeehouse Concept with a Twist

    The coffeehouse is being designed in collaboration with Tom Colicchio, a celebrated Top Chef winner, and the reputable New York design firm, Glen & Co. The unique concept of the coffeehouse will showcase an assortment of food, coffee, and merchandise, all inspired by the well-loved “Friends” television series.

    One of the key highlights of the coffeehouse will be its interior design, which will feature the iconic Orange Sofa room, a homage to the famous couch from the series.

    Peter Van Roden, an Executive VP at Warner Bros Discovery Global Experiences, shared, “Friends is a unique show that has the power to unite people across generations. Central Perk has always been at the core of these shared experiences.”

    A Dream Come True

    Paul Landino, an executive at CenPer Holdings, expressed his excitement over the expansion. He stated, “Our goal, when we launched the original Central Perk Coffeehouse in Boston, was to eventually bring it to New York City. Opening a branch in Times Square, often referred to as the crossroads of the world, provides a unique, once-in-a-lifetime opportunity to turn this vision into reality.”

    The Times Square location will also offer exclusive merchandise and the six signature blends from Central Perk Coffee Co. These blends are already available at the Boston location, online, on Amazon, and at select H-E-B grocery stores.

    Questions & Answers

    What is the Central Perk Coffeehouse?
    It’s a coffeehouse themed on the famous fictional café from the sitcom “Friends”. It will feature food, coffee, and merchandise inspired by the series.

    Who is behind the idea of the Central Perk Coffeehouse?
    The coffeehouse is a joint venture between Warner Bros Discovery Global Experiences, Central Perk Coffee C, and CenPer Holdings.

    Where and when will the Central Perk Coffeehouse open?
    The Central Perk Coffeehouse is set to open in Times Square, New York City, in the later part of this fall.

  • Vietnam Airlines Soars Back to Positive Equity Thanks to Strategic State Investment

    Vietnam Airlines Soars Back to Positive Equity Thanks to Strategic State Investment

    State-owned Vietnam Airlines has reversed its negative net worth thanks to a VND7.77 trillion (US$295 million) infusion of capital by the government.

    In a significant turnaround for the airline industry, Vietnam Airlines has successfully rehabilitated its financial position, emerging from a state of negative net worth due to a substantial capital injection from the government. The State Capital Investment Corporation (SCIC) announced on Tuesday that it finalized the purchase of additional shares in Vietnam Airlines on September 12, providing the company with a vital boost to secure stable long-term cash flows and enhance its capacity to meet debt obligations.

    As detailed in the airline’s consolidated financial statements, this capital infusion, totaling VND7.77 trillion, has lifted Vietnam Airlines from nearly VND3.1 trillion in negative shareholders’ equity as of June 30. In a market that is often as turbulent as a stormy flight, this funding means the airline not only survives but also has the resources to expand its fleet as travel demand rebounds.

    The shares acquired by SCIC form part of a broader strategy involving the issuance of 900 million new shares to existing shareholders, aiming to raise VND9 trillion to navigate the financial turbulence induced by the Covid-19 pandemic. Shareholders that held 1,000 shares were permitted to apply for 406 new ones, furthering their stake in the airline’s recovery.

    Previously, in September 2021, SCIC had injected VND6.98 trillion to assist Vietnam Airlines in maintaining liquidity during the pandemic’s peak. Now, SCIC boasts a 47.09% ownership stake in the airline, firmly rooting government support within this critical national carrier.

    Vietnam Airlines is showing signs of resilience following a rough patch that began early last year. Recent figures reveal that in the first half of this year, the airline reported a 10% year-on-year increase in revenues, reaching VND58.68 trillion. Impressively, its pre-tax profit surged by 19.3%, climbing to VND6.68 trillion — a refreshing change amidst a turbulent industry.

    Questions & Answers

    How has the government support affected Vietnam Airlines’ financial health?
    The infusion of VND7.77 trillion allowed Vietnam Airlines to move out of negative net worth and significantly improve its cash flow and ability to meet debt obligations, enabling it to plan for future fleet expansions.

    What previous support has Vietnam Airlines received from the government?
    Before this recent capital injection, SCIC provided VND6.98 trillion in September 2021 to help sustain the airline during the height of the Covid-19 pandemic and stabilize its operations.

    What are the latest performance metrics for Vietnam Airlines?
    In the first half of the year, Vietnam Airlines reported a revenue increase of 10% year-on-year, totaling VND58.68 trillion, along with a pre-tax profit increase of 19.3%, reaching VND6.68 trillion, indicating a strong recovery.

  • Watsons creates a ‘family’ of collectables to tap into character craze

    Watsons creates a ‘family’ of collectables to tap into character craze

    Health and beauty retail giant Watsons has unveiled its new initiative, The Watsons Family, a character-driven brand strategy set to enhance customer interaction throughout Asia.

    The Watsons Family Initiative

    The Watsons Family comprises 16 distinctive characters inspired by the Myers-Briggs Type Indicator (MBTI). These characters are featured on the packaging of various Own Brand products, ranging from skincare to body care essentials. This creative marketing concept makes the packaging itself an appealing and collectible item.

    The campaign is set to kick off in Hong Kong where three core characters will take center stage:

    – Sunny, representing wellness supplements.
    – Kilo, symbolizing energy and wellness.
    – Flora, embodying beauty through facial masks.

    Jared DeGuzman, Customer Director of Brand Marketing at Watsons, explained that the objective of this campaign is to transition the brand from traditional retail into a more experience-driven model.

    “We are leveraging the power of character-based storytelling,” DeGuzman shared. “Our aim is to create a health and beauty universe that not only sells products but also brings joy, inspiration, and a sense of community to our customers across Asia.”

    Retail Transformation

    As part of the campaign, Watsons stores in Hong Kong will feature branded visuals, interactive campaigns, digital extensions, and even meet and greet events with the characters.

    Following its initial launch, the expansion of The Watsons Family will continue into Mainland China, Malaysia, Taiwan, and Thailand. These new markets will be supported by significant marketing campaigns tailored to each region.

    Questions & Answers

    What is the purpose of The Watsons Family initiative?
    The Watsons Family initiative is designed to transform Watsons from a traditional retailer into a more experiential brand, using character-driven storytelling to create a universe where health and beauty are sources of joy, inspiration, and community connection.

    Who are the three flagship characters of The Watsons Family initiative?
    The three main characters are Sunny, who represents wellness supplements; Kilo, embodying energy and wellness; and Flora, symbolizing beauty through facial masks.

    Where will The Watsons Family initiative be launched and expanded?
    The campaign will initially roll out in Hong Kong and later expand into Mainland China, Malaysia, Taiwan, and Thailand.

  • Francesca Bellettini confirmed to lead Gucci

    Francesca Bellettini confirmed to lead Gucci

    The esteemed luxury conglomerate Kering has announced the appointment of Francesca Bellettini as the new president and CEO of one of its prime brands, Gucci. She steps into the role, succeeding Stefano Cantino who served for a brief tenure of nine months.

    Bellettini will be reporting directly to Luca de Meo, the CEO of Kering. In addition, Jean-Marc Fuplaix, the Group’s COO, will continue his role, providing additional support to de Meo in the strategic development and management of the group.

    A New Direction

    At this critical juncture, de Meo has expressed his intent to create a more streamlined and transparent organization, enabling the industry’s top talent to propel Kering’s brands forward. He emphasized that Gucci, being the group’s flagship brand, warrants the keenest focus. He is confident that Bellettini, who is among the most seasoned and revered professionals in the luxury industry, will provide the effective leadership and impeccable execution required to reinstate the brand to its prestigious position.

    Bellettini has a long-standing association with Kering, having held various leadership positions since she joined the company in 2003. Her commendable career progression includes being named the president and CEO of Saint Laurent in 2013 and later earning the designation of deputy CEO in charge of brand development at Kering in 2023.

    A New Role, A New Vision

    Bellettini expressed her gratitude for the opportunity to directly oversee Gucci, one of the world’s most recognized luxury brands. She looks forward to working under the guidance of Luca de Meo, whose innovative and fresh approach motivates the team to transcend conventional boundaries.

    Questions & Answers

    Who is the new president and CEO of Gucci?
    Francesca Bellettini has been appointed as the new president and CEO of Gucci.

    Who will Francesca Bellettini report to in her new role?
    Francesca Bellettini will report to Luca de Meo, the CEO of the Kering group.

    What is Luca de Meo’s vision for Kering with this new appointment?
    Luca de Meo intends to streamline the organisation, ensuring the best talent drives the group’s brands forward. He believes Francesca Bellettini’s leadership will be instrumental in restoring Gucci to its rightful place in the luxury industry.

  • Hong Kong Banks Urged to Dive into the Future with Tokenized Deposits and Assets Exploration

    Hong Kong Banks Urged to Dive into the Future with Tokenized Deposits and Assets Exploration

    Authorities in Hong Kong are gearing up to regulate the burgeoning sector of tokenized finance. The Hong Kong Monetary Authority (HKMA) is set to advance Project Ensemble, an initiative aimed at urging local commercial banks to embrace tokenized deposits and facilitate real-time transactions of tokenized assets. This bold step signals a significant shift in the city’s financial landscape.

    In his Policy Address on September 17, Chief Executive John Lee announced, “We are implementing a regime for stablecoin issuers and formulating legislative proposals regarding licensing regimes for digital asset dealing and custodian service providers.” This proactive approach not only addresses regulatory needs but also positions Hong Kong as a competitive player in the global digital asset arena.

    The HKMA is expected to play a crucial role in overseeing the issuance of tokenized bonds while encouraging banks to enhance their risk management practices through a supervisory sandbox environment. This innovative framework allows for the experimentation of new financial products in a controlled setting before a full-scale launch.

    Meanwhile, the Securities & Futures Commission (SFC) is exploring the introduction of a broader array of digital asset products for professional investors, prioritizing adequate investor protection measures. Lee remarked that “the SFC will also introduce automated reporting and data surveillance tools” to mitigate risks tied to digital assets, further reinforcing Hong Kong’s commitment to creating a secure investment ecosystem.

    In a relevant twist for sustainability enthusiasts, Lee also highlighted plans to strengthen collaboration with the Greater Bay Area (GBA) carbon market. The government intends to work closely with mainland regulatory bodies to address the intricacies of participating in the international carbon market. This includes developing voluntary carbon credit standards, as well as streamlining registration, trading, and settlement processes associated with carbon emission reductions, reminiscent of a high-stakes dance between finance and environmental stewardship.

    Questions & Answers

    What is Project Ensemble?
    Project Ensemble is an initiative by the Hong Kong Monetary Authority aimed at encouraging local banks to adopt tokenized deposits and facilitate real-time transactions of tokenized assets, thereby modernizing the financial infrastructure in Hong Kong.

    What measures is the SFC planning to enhance investor protection?
    The Securities & Futures Commission plans to introduce automated reporting and data surveillance tools as part of its strategy to protect professional investors from the inherent risks associated with digital assets.

    How will Hong Kong’s collaboration with the GBA carbon market evolve?
    Hong Kong will deepen its cooperation with the Greater Bay Area’s carbon market, focusing on developing voluntary carbon credit standards and improving processes for registration, trading, and settlement of carbon emissions, showcasing a commitment to sustainability in finance.

  • Bel Group Targets Australia’s Lucrative String Cheese Market With Babybel Mini Rolls Launch

    Bel Group Targets Australia’s Lucrative String Cheese Market With Babybel Mini Rolls Launch

    Bel Group, well-known for their cheese products, is expanding its offerings in Australia’s string cheese segment through the introduction of its Babybel Mini Rolls. These spiral-shaped snacks represent the company’s latest foray into the Australian market.

    Bel Group established their Australian subsidiary, Bel Brands Australia, in November of the previous year. The move was made to directly handle distribution and to strengthen relationships with retailers. Since its inception, Bel Brands Australia has assumed command of nationwide distribution for the brand’s cheese products.

    Babybel Mini Rolls are set to make an impression on Australia’s lucrative string cheese market, which is estimated to be worth between $150 million to $200 million each year.

    The Mini Rolls will be available in packs of six, conveniently pre-portioned for ease of consumption. A special feature of these packs is the inclusion of Disney Pixar characters, making them particularly appealing to young consumers.

    Rucha Sarma, Senior Brand Manager at Bel Brands Australia, commended the spiral design of the new product, citing its interactive appeal. “Mini Rolls carry the same quality and taste of the original Babybel that consumers love; however, they are presented in a playful shape that can be enjoyed by both children and adults,” Sarma explained.

    She further elaborated that like all Babybel products, the Mini Rolls are made from pasteurised milk and are a rich source of calcium. Importantly, they are also free from artificial preservatives, colours, and flavours. Their portable size makes them an ideal addition to children’s lunchboxes or for snacking during travels.

    The Babybel Mini Rolls are set to hit the shelves of Coles supermarkets beginning mid-September. Distribution to independent stores across the country is planned to commence from the following month.

    Questions & Answers

    What is the estimated value of Australia’s string cheese market?
    The Australian string cheese market is estimated to be worth between $150 million and $200 million each year.

    What are the key features of Babybel Mini Rolls?
    Babybel Mini Rolls have the same quality and taste of the original Babybel cheese but are presented in a fun spiral shape. They are made from pasteurised milk and are free from artificial preservatives, colours, and flavours.

    When and where will Babybel Mini Rolls become available?
    The Babybel Mini Rolls will become available at Coles supermarkets from mid-September, with distribution to independent stores set to commence from the following month.

  • Kinder Joy Partners With Funko To Launch Harry Potter Quidditch Collection Nationwide

    Kinder Joy Partners With Funko To Launch Harry Potter Quidditch Collection Nationwide

    Kinder Joy has teamed up with Funko, a renowned pop culture brand, to unveil the Harry Potter Quidditch Collection. This collection comprises 18 themed figurines and accessories that can be found inside Kinder Joy’s signature twin-chambered chocolate eggs.

    Character Figurines and Quidditch Accessories

    The collection includes a variety of characters from the Harry Potter franchise such as Harry Potter, Hermione Granger, Ron Weasley, Draco Malfoy, and Cedric Diggory. Additionally, fans will be delighted to find Quidditch-related items, like Madam Hooch’s whistle and a Quaffle. Each egg contains a surprise – a collectible on one side, and Kinder Joy’s characteristic chocolate and wafer treat on the other.

    Kinder Joy aims to create exciting moments of discovery, reminiscent of the enchantment of Harry’s first flight on a Nimbus 2000. However, this time, the excitement is paired with a scrumptious chocolate treat. The thrill of finding a collectible in each egg adds to the overall enjoyment of the Kinder Joy experience.

    Availability and Pricing

    The Kinder Joy x Harry Potter Quidditch Collection is available nationwide. Consumers can find these unique products at Coles and other leading retailers. Each egg is priced at a recommended retail price (RRP) of $3.30.

    Questions & Answers

    What is included in the Kinder Joy x Harry Potter Collection?
    The collection includes 18 different Harry Potter-themed figurines and accessories within Kinder Joy’s twin-chambered chocolate eggs.

    Where can I buy the Kinder Joy x Harry Potter Collection?
    The collection is available nationwide at Coles and other leading retailers.

    What is the price of each Kinder Joy x Harry Potter egg?
    Each Kinder Joy x Harry Potter egg has a recommended retail price (RRP) of $3.30.

  • Wanderlust Unveils Biohack: A New Wellness Range Promising Enhanced Mental And Physical Performance

    Wanderlust Unveils Biohack: A New Wellness Range Promising Enhanced Mental And Physical Performance

    Australian health and wellness brand, Wanderlust, has unveiled a new product range, BioHack by Wanderlust. This supplement collection aims to enhance both mental and physical performance, promoting vitality, focus, resilience, and energy.

    The product line, which will be accessible online and in Chemist Warehouse locations, consists of a diverse selection of 23 formulations. Each is specifically designed with the goal of supporting various aspects of human wellness, ranging from vitality and focus to resilience and energy.

    One notable product in this collection is the NAD+ Boost. This unique supplement features the NAD+ precursor ingredient, known for its beneficial role in energy metabolism and cellular vitality.

    Wanderlust Chairman, Radek Sali, expressed the company’s philosophy and goal behind the new product line. “We believe that age is a privilege and our mission is to assist individuals in embracing their current stage of life,” he said. “This way, they can optimise their journey moving forward. BioHack by Wanderlust is not a fringe experiment in biohacking. Instead, it represents intelligent, science-supported decisions that empower individuals to take control of their evolution.”

    Questions & Answers

    What is the goal of Wanderlust’s new product line, BioHack?
    BioHack by Wanderlust is designed to enhance mental and physical performance. The products aim to promote vitality, focus, resilience, and energy.

    Where can consumers access the BioHack by Wanderlust collection?
    The BioHack by Wanderlust collection is available online and at Chemist Warehouse locations.

    What is the function of the NAD+ precursor ingredient in the NAD+ Boost supplement?
    The NAD+ precursor ingredient helps to boost energy metabolism and cellular vitality.

  • Italian Fashion Powerhouse OVS To Open First Store In India Amid Global Expansion

    Italian Fashion Powerhouse OVS To Open First Store In India Amid Global Expansion

    Italian fashion retail giant, OVS, is preparing to penetrate the Indian market. The company is set to open its first store at Pacific Mall, Tagore Garden, New Delhi, next month. This move is part of the company’s larger global expansion strategy. OVS, which reported sales of €1.63 billion in 2024 and operates over 2200 stores globally, sees the Indian market as a significant growth opportunity.

    Targeting India’s Dynamic Fashion Market

    India is known for its dynamic fashion landscape, fueled by a young population with an increasing appetite for international styles. Sundeep Chugh, MD at OVS India, shared his enthusiasm about introducing OVS’s unique blend of Italian design, quality, and affordability to Indian consumers.

    Store Features and Collection Highlights

    The New Delhi OVS store will showcase the brand’s latest retail concept. Additionally, it will offer a diverse product range, from everyday essentials to premium lines. The company’s creative director, Massimo Piombo, designs collections with the goal of inspiring and encouraging customers to embrace their creativity. The essence of Italian style – a blend of art, travel, and culture – is embodied in all OVS collections. With India’s vibrant and style-conscious market, the brand anticipates a significant response to their offerings.

    Global Footprint Expansion

    OVS already serves more than 6 million customers worldwide. The company views its entry into India as a critical turning point in its growth strategy. OVS plans to bring its ‘Love People, Not Labels’ philosophy to global markets, adding another dimension to its international expansion.

    Questions & Answers

    What is the significance of OVS’s entry into the Indian market?
    The entry into the Indian market is a part of OVS’s broader international expansion strategy. It provides the company access to one of the world’s most dynamic fashion markets, characterized by a young demographic with a growing preference for global styles.

    What can customers expect from the first OVS store in New Delhi?
    Customers visiting the New Delhi store can expect to see the brand’s latest retail concept and a diverse product range, from everyday essentials to premium lines.

    What is OVS’s growth strategy?
    OVS’s growth strategy includes expanding its global footprint and bringing its ‘Love People, Not Labels’ philosophy to international markets. This involves catering to diverse customer preferences and promoting inclusivity in fashion.

  • Uniqlo Ceo Yanai Warns Of Economic Fallout From U.S. Tariffs; Unveils Plans To Raise Prices

    Uniqlo Ceo Yanai Warns Of Economic Fallout From U.S. Tariffs; Unveils Plans To Raise Prices

    Tadashi Yanai, the founder of the global fashion brand Uniqlo and CEO of Fast Retailing, has expressed his concerns over the impact of tariffs on international trade, particularly the United States. Yanai, who is Japan’s wealthiest individual, has previously vocalized his apprehensions about the potential economic fallout from the extensive tariffs put in place by the U.S. administration.

    Tariffs and their Impact

    Yanai aired his views during a Uniqlo event in New York City, where the brand was showcasing its LifeWear clothing line and an art collaboration with Toray Industries of Japan and The Museum of Modern Art. Speaking through a translator, he stated, “I fear the world could go bankrupt,” before adding, “America is the one that could suffer the most.” He did not elaborate further on his statement.

    Fast Retailing, under the leadership of Yanai, has grown to become a dominant force in the Asian apparel market and is currently executing an ambitious expansion plan in Europe and North America.

    Effects on Uniqlo and its Operations

    The company announced in July that the increase in U.S. tariffs would have a significant impact on its American operations starting from the later part of the year. To counteract this, the company plans to raise prices.

    The majority of Uniqlo products sold in the U.S. are manufactured in Southeast Asia and South Asia, making the brand particularly susceptible to any shifts in the tariff landscape.

    Questions & Answers

    Who is Tadashi Yanai?
    Tadashi Yanai is the founder of global fashion brand Uniqlo and the CEO of Fast Retailing. He is also Japan’s richest man.

    What is Yanai’s viewpoint on U.S. tariffs?
    Yanai is concerned about the potential economic fallout from extensive tariffs imposed by the U.S. administration. He believes that the United States could suffer the most from these tariffs.

    How is Uniqlo planning to counteract the impact of these tariffs?
    Uniqlo plans to raise prices to mitigate the financial impact of the increased U.S. tariffs on its operations.

  • Valentino And Vans Unveil Ai-driven Campaign For Innovative Capsule Collection

    Valentino And Vans Unveil Ai-driven Campaign For Innovative Capsule Collection

    Luxury fashion house Maison Valentino and popular footwear brand Vans have joined forces to launch an innovative campaign that leverages artificial intelligence (AI) for a new capsule collection. This ingenious blend of physical and digital storytelling is a testament to the evolving frontiers of fashion marketing.

    The AI-Infused Campaign and Collection

    The campaign visuals were produced by AI, utilizing raw footage from Maison Valentino’s Fall/Winter 2025 Paris runway show where the collection was initially showcased. Guided by Maison Valentino’s Alessandro Michele’s vision, the team has imaginatively redefined the classic silhouette of Vans Authentic sneakers. This transformation retains the distinctiveness of Valentino and the originality of Vans through canvas uppers adorned in a spectrum of vibrant prints.

    The novel design features a checkerboard motif, overlapping patterns, and dynamic motion graphics. According to Michele, the product is a surreal and dreamlike fresco where nature erupts.

    The Collection Details

    The collection consists of six styles tailored for both men and women, each distinguished by a unique ‘I Love Valentino x Vans’ print that evokes the style of souvenir typography.

    The collaborative Valentino Garavani and Vans sneakers are available for purchase on both the brands’ official websites. A special edition of the collection will also be presented in Valentino boutiques globally and at the Vans’ London flagship store, with sales commencing this Friday.

    Questions & Answers

    What is unique about the new campaign by Maison Valentino and Vans?
    The campaign is notable for its use of artificial intelligence to generate visuals, blending physical and digital storytelling.

    Who is the creative force behind the redesigned silhouette of Vans Authentic sneakers?
    The redesign was guided by Maison Valentino’s Alessandro Michele, who ensured that the distinctiveness of both brands was preserved in the new design.

    Where can the Valentino Garavani and Vans sneakers be purchased?
    The sneakers are available on both companies’ official websites, as well as in Valentino boutiques worldwide and at the Vans’ London flagship store.

  • Ios 26 Update Revolutionizes Apple Wallet With Enhanced Card Information Storage

    Ios 26 Update Revolutionizes Apple Wallet With Enhanced Card Information Storage

    The recent iOS 26 update has unveiled a host of minor enhancements, including a significant upgrade to the Apple Wallet. The digital wallet can now store detailed information about all your credit and debit cards, enhancing the user experience and accessibility.

    Storing Card Details in the Wallet App

    The iOS 26 iteration of Apple Wallet now allows detailed storage of physical card information alongside their digital counterparts within the app. This empowers users to access essential information such as the card number, expiry date, and other specifics, even in the absence of the physical card.

    Previously, the Wallet was somewhat limiting, offering no option to store comprehensive physical card information for debit and credit cards—a feature exclusive to the Apple Card. This update simplifies and enhances the user experience, positioning the Wallet app as a comprehensive replacement for a physical wallet—a functionality competitor apps like 1Password have been offering for a while.

    Manual Data Entry

    However, while this feature enhances convenience, Apple Wallet does not automatically store all card details. Users must manually input the information into the app. This can be done through a straightforward process:

    1. Open Wallet and select a card.
    2. Click on the ‘123’ button in the upper right corner and authenticate with FaceID or a passcode.
    3. Select “Add Physical Card information.”
    4. Scan the card or manually input the details to be saved.
    5. Confirm by tapping ‘Done.’

    Users can store the card number, expiration date, security code, cardholder’s name, and even add a specific description. Aside from the card number, all other details are optional, allowing users to customize what gets stored. This feature is particularly useful for cards with dynamic security codes.

    Apple has assured users that the saved data is both encrypted and stored in the user’s iCloud Keychain, accessible only by the particular user. Importantly, this information does not get used for Apple Pay transactions.

    A Competitive Edge

    The addition of detailed card information storage to Apple Wallet effectively eliminates the need for many users to stick with 1Password instead of transitioning to Apple’s own Passwords app. This development underlines Apple’s strategy of integrating features of utility apps into its operating systems, rendering separate apps superfluous.

    Questions & Answers

    What new features does the iOS 26 update bring to the Apple Wallet?
    The iOS 26 update allows users to store detailed information about their physical credit and debit cards within the Wallet app.

    How does one add physical card details to the Apple Wallet?
    Physical card details can be added manually by selecting a card within the Wallet app, clicking on the ‘123’ button, selecting “Add Physical Card information,” scanning the card or manually entering the details, and confirming the action.

    Is the card information stored in Apple Wallet secure?
    Yes, Apple assures users that all stored data is encrypted and kept in the user’s iCloud Keychain, accessible only to the user. The stored card information is not used for Apple Pay transactions.

  • Lotte Shopping Expands Horizons with Plans for New Shopping Malls Across Vietnam

    Lotte Shopping Expands Horizons with Plans for New Shopping Malls Across Vietnam

    South Korean retail behemoth Lotte Shopping is poised to expand its footprint in Vietnam, planning to open two to three new large-scale shopping malls in key cities by 2030. This initiative emphasizes Vietnam’s burgeoning significance within Lotte’s global strategy for growth.

    The announcement, made by Lotte Shopping CEO and Vice Chairman Kim Sang-hyun during the “CEO IR Day” event in Seoul on September 15, aligns with the company’s ambitious “Transformation 2.0” strategy. This roadmap is designed to bolster international operations while also embracing innovative, technology-driven retail ventures as pathways for future growth.

    Currently, Lotte Shopping has established a solid presence in Vietnam with three department stores and 16 supermarkets, complementing its operations in Indonesia, which include one department store and 48 supermarkets. The company highlights the triumph of its flagship Lotte Mall West Lake Hanoi, opened in 2023; it serves as a prototype for upcoming premium shopping complexes. Kim expressed ambitions to replicate this successful model in other major cities throughout Vietnam.

    As of now, Lotte’s international ventures contribute 13% to its consolidated revenue and account for 18% of its operating profit, illustrating a robust growth trajectory. The company targets an overseas sales milestone of 3 trillion KRW (approximately US$2.2 billion) by 2030. Key components driving this expansion include initiatives such as retail consulting and collaboration with local partners to leverage distribution systems across Southeast Asia.

    In 2024, Lotte Shopping reported substantial figures, with revenue hitting KRW 13.98 trillion and an operating profit of KRW 473.1 billion. By 2030, the company anticipates reaching a revenue target of KRW 20.3 trillion, along with a goal of boosting its operating profit to 1.3 trillion KRW, nearly tripling its profit compared to levels recorded in 2024. Sounds like a retail thriller in the making!

    The CEO IR Day drew over 100 participants, including asset management experts, institutional investors, securities analysts, and banking officials. It served as a platform for Lotte to present its performance goals and strategic plans aimed at enhancing its corporate value.

    Questions & Answers

    What is Lotte Shopping’s plan for expansion in Vietnam?
    Lotte Shopping intends to open two to three large-scale shopping malls in key Vietnamese cities by 2030, as part of its broader international growth strategy.

    How does Lotte Shopping currently operate in Vietnam?
    In Vietnam, Lotte Shopping operates three department stores and 16 supermarkets, while also establishing a successful presence with its Lotte Mall West Lake Hanoi, which opened in 2023.

    What financial goals has Lotte Shopping set for 2030?
    Lotte Shopping aims to achieve KRW 20.3 trillion in revenue and increase its operating profit to 1.3 trillion KRW by 2030, significantly boosting its current profit levels.