Retail News CRM

Author: Mei Ling Tan

  • China Duty Free Group confirms Kunming arrivals award

    China Duty Free Group confirms Kunming arrivals award

    China Duty Free Group (CDFG) has confirmed to DFNIonline it has been awarded the 489sq m Kunming airport arrivals duty-free contract. The airport handled 37.7 million passengers in 2015, an increase of  16.8% on 2014.

    The award follows China National Service Corporation for Personnel Working Abroad’s (CNSC) recent capture of the five-year Chongqing airport arrivals contract spanning 572 sq m.

    Speaking in the Cannes issue of DFNI last year, CDFG chairman Peng Hui said: “In recent years, the Chinese have undoubtedly been the main force for luxury spend. Maintaining high-end consumption at home is a key part of the government’s strategy. The opportunities in inbound shops are in response to this national strategy.”

    News of the government’s plan to open arrivals duty-free shops in Chinese airports and seaports to boost the domestic economy was first revealed in 2015. The motive was to encourage domestic consumption and deter Chinese consumers was purchasing duty-free products overseas. Duty-free arrivals shops are already operational at Beijing Capital and Shanghai Pudong and Hongqiao International airports. But in February 2016 the government announced it will be extended to 13 other airports and six border port locations as previous reported.

    The full list of those Chinese airports comprise: Guangzhou Baiyun, Hangzhou Xiaoshan, Changdu Shuangliu, Nanjing Lukou, Shenzhen Bao’an, Kunming Changshui, Chongqing Jiangbei, Tianjin Binhai, Dalian Zhoushuizi, Shenyang Taoxian, Xi’an Xianyang, Urumqi Diwopu and Qingdao Liuting International airports. Four border ports are located in Shenzhen (Futian, Huanggang, Shatoujiao and Wenjindu) with the others located in Zhalou (Zhuhai) and Heihe (Heilongjiang).

    The situation further developed last November with the announcement CDFG, CNSC, Shenzhen Duty Free and Zhuhai Duty Free had been named as qualified bidders for the licenses.

    All contract awards are expected to be awarded by March or April, according to CNSC deputy general manager Duty Free Department Jacky Yan, who told DFNIonline during a visit to Beijing last year: “All winners should be revealed by March or April after the airports have registered results through the Ministry of Finance.”

  • What exactly is wrong with China’s ‘Apple’ Xiaomi?

    What exactly is wrong with China’s ‘Apple’ Xiaomi?

    Although it crossed $1 billion in revenue in 2016 within the first two years of its operations in India, Xiaomi — once touted as the “Apple” of China — has slipped to fourth spot back home as the demand for its smartphones declined 22 per cent annually — eventually taking it to seventh spot in the global smartphone ranking with a 16 per cent drop in sales.

    The decline came even as Hugo Barra, Xiaomi’s high-profile head of international operations, left the company in January and joined Facebook to lead its virtual reality (VR) project.

    According to the experts, the key reason for this decline is Xiaomi’s rivals racing ahead with key features, better innovations, bigger marketing budgets and wider online and offline distribution channels.

    “Until 2016, Xiaomi relied only on online channels for smartphone sales which contributes approximately 30 per cent of the total smartphones sales in China, leaving a huge chunk of the market untapped. Its competitors invested heavily in building strong offline channels, expanding their reach to tier-2 and tier-3 cities and moving ahead of Xiaomi,” Shobhit Srivastava, Research Analyst, Mobile Devices and Ecosystems at market research firm Counterpoint Research, told IANS.

    Another reason for Xiaomi’s slipping growth is the rising average selling price (ASP) of the maturing China smartphone market, experts noted.

    “Bulk of the sales in China is coming from upgrades where Huawei, OPPO and Vivo are gaining market share while Xiaomi remains in the below-$150 category. Xiaomi also lacks in research and development unlike its Chinese counterparts which are vertically integrated,” Srivastava added.

    An email sent to the company for its reaction to the decline in global smartphone sales didn’t elicit any response.

    Xiaomi’s main markets have been China and India which combined get more than 95 per cent shipment share. While performance in India improved in 2016, the company lost market share in China resulting in the decline of overall global smartphone ranking.

    Huawei, Oppo and Vivo have emerged as clear winners with Oppo and Vivo registering significant growth in China.

    Shipping 44.9 million iPhones to China, even Apple has beaten Xiaomi that shipped 41.5 million smartphones in 2016, market research firm International Data Corporation (IDC) revealed earlier this month.

    According to IDC’s “Quarterly Mobile Phone Tracker” report, Apple dropped from 58.4 million iPhones in 2015 and Xiaomi from 64 million Mi phones — drops of 23 per cent and 36 per cent, respectively.

    Amid the global gloom, it is the Indian smartphone market that has helped Xiaomi gain profits.

    “They (Xiaomi) have already established their presence in India with a revenue of more than $1 billion in 2016 in the country. They will keep going as they have a strong management team,” Jaideep Mehta, Managing Director, IDC South Asia, told IANS.

    “On Barra, I would say that a senior executive has just moved on. Of Course, he will be missed, but the company is bigger than one individual,” he added.

    Coincidently, Xiaomi is not going to showcase any product at the upcoming Mobile World Congress (MWC), the telecom industry’s largest event, in Barcelona, Spain, later this month. There are reports that Xiaomi doesn’t have new devices to showcase during the MWC show.

    This indicates there is something wrong somewhere and the company needs to plug the problem fast before its global presence plunges further.

    “To recover and sustain growth, Xiaomi will have to focus on building strong offline channels as it will open up a significant market for the company. It needs to concentrate more on its R&D and come up with a device in the higher-mid end segment for the increasing Chinese middle-class population with higher disposable incomes,” Srivastava emphasised.

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  • AirAsia inks pact with Odisha to run direct flights to Kuala Lumpur

    AirAsia inks pact with Odisha to run direct flights to Kuala Lumpur

    Malaysia-based low-cost carrier AirAsia on Friday signed a memorandum of understanding (MoU) with the Odisha government for running direct international flights from Bhubaneswar to Kuala Lumpur.

    The agreement was signed between Nitin Bhanudas Jawale, Director of tourism department in the state and AirAsia Chief Executive Officer (CEO) Aireen Omar.

    “AirAsia’s engagement is very important for Odisha. This pact marks the culmination of our efforts and very soon, we will be starting international flights. We have asked for permission to ply two to three flights per week. The state government is offering subsidy in the form of Viability Gap Funding (VGF)”, said Jawale
    AirAsia CEO said an announcement would be made shortly regarding the commencement of international flights from Bhubaneswar — a development industry experts feel could attract other players to launch operations from Odisha’s capital.
    “Sometime in April,  the services will start but it may be in the first or the last week. The exact date will be known in a week’s time. Air Asia will also be starting another flight to Bangkok in the next three to four months. With Air Asia launching its operations, we are hopeful that other players will be attracted to start their operations from Bhubaneswar. Invest Bhubaneswar has been pursuing Air Asia for the past five years to start operations from the city”, said Debasish Patnaik, convenor of the Invest Bhubaneswar event.
    AirAsia has selected through competitive bidding. The state government had invited an Expression of Interest (EoI) from the scheduled air carriers for running flights to destinations in South East Asia like Singapore, Bangkok and Kuala Lumpur. To woo the air carriers, the state government had agreed to provide reasonable VGF in the form of subsidy grant.
    The state government has offered to provide the subsidy grant initially for six months with the possibility of extending it for a year from the date of starting commercial flight operations. The continuation of subsidy grant would depend on the trend in passenger traffic.
    If an operator is already running flights from an Indian city to Singapore, Bangkok or Kuala Lumpur and is keen to use Bhubaneswar as a hopping destination, the state government would offer subsidy grant. However, the grant would be released on the condition that the operator reserves 30 per cent of seats for passengers flying from and to Bhubaneswar.
    The subsidy would be provided on a monthly basis and would be given if there are regular flights on scheduled days irrespective of the passenger flow. If the operator chooses to increase or decrease the frequency as per demand, the state government would vary the subsidy grant accordingly. Despite getting the international tag since October in 2013, international flight operations are yet to take off from Bhubaneswar except for Air India, which currently routes international passengers from the city via New Delhi.
    To incentivise global flight operations, the state government has announced the complete waiver of VAT (value added tax) on aviation turbine fuel (ATF).
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  • Tata Steel explores Myanmar

    Tata Steel explores Myanmar

    Boosted with the success of its solution business in the retail segment in the domestic market, steel major Tata Steel is now exploring possibility of entering overseas markets like Bangladesh and Myanmar with retail branded steel solution products.

    “We have a great success in developing brands and distribution network in B2C markets in India.

    Bangladesh and Myanmar are the two B2C markets which have similar profile as India.

    We see the opportunity there in the B2C markets to build the brand and distribution network,” Tata Steel MD (India and South East Asia) T V Narendran said.

    Tata Steel terms consumer products as B2C and has marketed these steel products similar to FMCG strategy.

    Narendran however, did not elaborate further on the overseas foray.

    Tata Steel offers branded rebars, doors, windows, modular housing, toilets and water ATMs etc in the Indian market and generates some Rs 700 crore revenue annually and was aiming to increase the same to 20 per cent of the topline over the next few years.

    Speaking at Bengal Chamber of Commerce organised Metal 2017, he said country’s steel industry had been spending less towards R&D compared to global standards.

    “Most industries and countries spend about 2 per cent (of the revenue) towards R&D.

    Indian steel industry is spending less than 0.5 percent to it.

    The government is providing incentives to the industry to invest more in R&D,” he said here.

    “R&D expenditure is not about spending the money but having the right projects,” he added.

    Narendran also mentioned that India lacks in high end steel processing for automotive sector.

  • Coffee Craft cafe takes culture to Beijing suburbs

    Coffee Craft cafe takes culture to Beijing suburbs

    Beijing’s new Coffee Craft cafe takes coffee culture to the capital’s suburbs.

    It is in the largely residential area of Beixuaguan, in Beijing’s northwest. Covering 400 sqm, the outlet has been designed by United Units Architects, a practice based in both Beijing and London.

    Coffee-Craft-Cafe-by-United-Units-Architects-Beijing-China-04

    While primarily a venue for specialty coffee, it also anticipates the hybrid lifestyles of today’s young generation, says Retail Design Blog. It features four specific areas – a bar, a seating area, two meeting rooms and a kitchen space – all separated by partitions crafted from a mix of vertical louvres and wire mesh, allowing for a variety of configurations.

    Each space has a distinct feel while seamlessly blending with the other sections.

    The bar comprises wall panels of shiny steel and capsule-shaped copper equivalents on the ceiling, while the seating area features an indoor cactus garden as a focal point. It is framed and encapsulated on one side by slabs of mirror that make it appear double its actual size. Hovering directly above is a large circle made of the same material. A Vespa scooter installation adds a quirky and frivolous touch to the austere aesthetic, says Retail Design Blog.

    Coffee-Craft-Cafe-by-United-Units-Architects-Beijing-China-05

     

    Coffee Craft’s menu features specialty coffee from such countries as Brazil, Colombia, Ethiopia , Guatemala, Indonesia, Kenya and Panama, all marked on a wooden wall plaque with a pinboard world map.

    Coffee-Craft-Cafe-by-United-Units-Architects-Beijing-ChinaCoffee culture is not only catching on in China, but accelerating and diversifying to meet the lifestyle requirements of the country’s growing demographic of savvy consumers, says the blog.

    “Obviously, this trend has manifested itself most vigorously in plush downtown neighbourhoods of the country’s booming first- and second-tier cities. The middle class continues to expand with leaps and bounds – it has doubled from 399 million to 784 million in just a decade – and coffee and modern lifestyle appreciation has grown in equal measure across suburban fringe, and increasingly in surprising contemporary form.”

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  • Clarion Events Asia Announce the Acquisition of RetailEX ASEAN

    Clarion Events Asia Announce the Acquisition of RetailEX ASEAN

    Clarion Events Asia, part of the global Clarion Events Group – a leading event organiser, producing and delivering innovative and cutting edge events since 1947 – today announced that they have acquired RetailEX ASEAN, a fast growing trade exhibition serving retailers in the ASEAN region. Co-organising the event with IMPACT, the premium venue in Thailand, Clarion Events look to enhance its offering to the retail industry in Asia.

    The purchase of RetailEX, based in Thailand, further increases Clarion Events involvement in the Asian retail market. “The combination of RetailEX ASEAN’s early success with Clarion’s history of nurturing events will provide our clients with the business intelligence to transform retail in Asia” said Richard Ireland, Managing Director of Clarion Events Asia. “The acquisition is expected to result in a show that can support the needs of retailers across ASEAN as they transition through the next 5-10 years of exciting transformation. We are grateful that the co-founder of RetailEX ASEAN, Ms Rosalind Ng, Managing Director of Globe International Events Consultancy has set a good foundation for us to bring the event to the next level.”

    “A partnership was formed with Clarion Events Pte Ltd (Asia) to broaden and strengthen RetailEX ASEAN’s position in the ASEAN region,” commented Mr Loy Joon How, General Manager, IMPACT Exhibition Management. “This new collaboration with Clarion Events could not have come at a better time for us as we are anticipating new upcoming challenges for the ASEAN retailers in this digital age of disruption. Clarion Events, with their success in e-Commerce and Internet Retailing events will bring a whole new dimension to RetailEX ASEAN, which now promises to be the most complete and most exciting retail trade show in the region.”

    RetailEX Asean will continue to operate under that name. Clarion Events will leverage the IMPACT team’s knowledge of the market and to work closely with them during the integration of both companies – which will take place over the next 6 months, leading to the RetailEX ASEAN show happening on 14-17 September, at the IMPACT Exhibition Hall, Bangkok. “With the involvement of Clarion Events, our clients will expect higher international quality services,” stated Mr Loy. 

    To augment the offering to retailers of the region, Clarion Events will introduce Internet Retailing Expo (IRX) ASEAN to co-locate with RetailEX ASEAN. With a successful history in Indonesia the event provides a vital digital/ ecommerce offering to retailers looking to compete in the online retail space. “We look to offering the Thailand retail market even more expertise from around the world and seeing more visitors attracted to the show this September” says Richard Ireland. 

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  • Lotte Duty Free sales up 25 per cent

    Lotte Duty Free sales up 25 per cent

    Lotte Duty Free has reported a 26 per cent increase in turnover to W5.9 trillion (US$5.1 billion) for last year.

    The figures are believed to excludes sales from its overseas airport and downtown outlets (Guam, Indonesia, Tokyo), reports DFNI Online.

    For 2015, its sales reached W4.82 trillion, a decline from W4.55 trillion the previous year.

    The Mers outbreak hit the retailer, despite it being awarded five-year contracts for two perfumes and cosmetics concessions and a liquor and tobacco concession at Seoul Incheon airport. It also beat off competition for a downtown duty-free shop in Jeju. The disease outbreak chopped off Chinese tourist arrivals to South Korea.

    Lotte Duty Free was further dented by the loss of its pivotal World Tower licence to travel retail newcomer Doosan Corporation (Doota Duty Free), but it has since regained the licence and re-opened the store.

    Marketing division manager Bo Joon Kim describes it as “one of the most chaotic times” in the group’s history.

    Lotte accounted for 48.7 per cent of total Korean duty-free sales last year, which amounted to W12.3 trillion. It started the year by opening its 4396 sqm Korean-style downtown duty-free store in Tokyo.

    Other developments included the reopening of its Gimpo airport store in August and the re-launch of its Gimhae airport outlets.

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  • Real Singapore retail sales slightly rising

    Real Singapore retail sales slightly rising

    Real Singapore retail sales – the data excluding motor vehicles – recovered 0.7 per cent in December over November – and by an even smaller 0.3 per cent year-on-year.

    Retail sales index Feb.

    The total value of retail sales in December 2016 was estimated at $4.2 billion, similar to that of December 2015.

    Sales of computer & telecommunications equipment and department stores fell 6.8 per cent and 2.2 per cent month-on-month.

    But sales of watches & jewellery, medical goods & toiletries, optical goods & books, recreational goods, mini-marts & convenience stores, furniture & household equipment, petrol service stations and supermarkets increased between 1.2 per cent and 6 per cent. Retailers of wearing apparel & footwear and food & beverages recorded marginal growths of 0.2 per cent and 0.1 per cent respectively.

    Year-on-year, retail sales of medical goods & toiletries, recreational goods, furniture & household equipment, mini-marts & convenience stores, optical goods & books and supermarkets rose between 0.8 per cent and 9.9 per cent in December 2016.

    In contrast, sales of computer & telecommunications equipment fell 9 per cent, with sales of petrol service stations, food & beverages, wearing apparel & footwear, watches & jewellery and department stores down by between 0.3 per cent and 2.2 per cent.

    Food & beverage services

    Sales of food & beverage services (seasonally adjusted) fell 2.2 per cent in December 2016 month-on-month. Compared to the same period last year, sales of food & beverage services declined 0.3 per cent in December 2016.

    F&B index Feb.

    After seasonal adjustment, turnover of fast food outlets decreased 5.6 per cent month-on-month, while sales of other eating places (such as cafes), restaurants and food caterers fell between 1.5 per cent and 1.8 per cent over the same period.

    Year-on-year, restaurant sales declined 7.9 per cent, but turnover at other eating places, food caterers and fast food outlets rose between 3.7 per cent and 5.1 per cent.

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  • Singapore soya-sauce chicken chain for Taipei

    Singapore’s soya-sauce chicken hawker outlet is heading overseas with Taipei as its first stop.

    The Michelin star restaurant’s Taiwanese debut will be at Hoyii North Station in the first half of this year.

    Owner Chan Hon Meng says he is excited to share Singapore’s food culture with the rest of the world, and hopes this will encourage more young people to join the hawker profession.

    Like Hawker Chan, which opened in Smith Street in November, the Taipei outlet will be a quick-service restaurant.

    Chan’s signature soya-sauce chicken dish earned a one-star rating in the inaugural Singapore Michelin Guide last July. His hawker stall at Chinatown Food Complex is touted as the cheapest Michelin-starred food establishment in the world, with its award-winning noodles selling at only S$2.50 (US$1.76).

    If the Taipei branch succeeds, Chan hopes to next expand into Malaysia.

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  • Record growth boosts Jollibee Foods’ income 24pc

    Record growth boosts Jollibee Foods’ income 24pc

    Philippine-headquartered quick-service restaurant chain Jollibee Foods income jumped 24.6 per cent to 6.14 billion pesos (US$123.26 million) last year, thanks to aggressive store openings.

    Jollibee says it opened 340 outlets across nine brands – its biggest expansion in a single year – of which 243 stores were in the Philippines. Including JVs, such as Smashburger in the US and Highlands Coffee in Vietnam, Jollibee opened 468 stores last year.

    This pushed system-wide retail sales, derived from franchised and company-owned stores, by 14.1 per cent to 149.14 billion pesos.

    Jollibee Foods Philippines CEO Ernesto Tanmantiong says the company is spending 14 billion pesos this year, up from 10.4 billion pesos last year, to open more outlets and expand its commissaries.

    Jollibee says its business in China – about half of its overseas interests – has returned to growth, with sales expanding by 6 per cent in the fourth quarter.

    Poor sales in China earlier prompted the company to reorganise there. It unloaded its San Pin Wang noodle chain and took over a food-processing company.

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  • Innisfree to launch in Indonesia

    Innisfree to launch in Indonesia

    Beauty products brand Innisfree is launching in Indonesia with brand curator Time International.

    Part of Korean global beauty company AmorePacific Group, Innisfree offers products made with natural ingredients from Jeju, a volcanic island off the southern coast of the Korean Peninsula.

    Innisfree’s first store will open at Central Park Mall Jakarta on March 24, following its introduction in such markets as China, Hong Kong, India, Malaysia, Singapore, Taiwan, Thailand and Vietnam.

    As well as skincare, Innisfree will offer colour cosmetics in Indonesia, says international business VP Chul Kim.

    Innisfree was launched by AmorePacific Group in 2000, joining its brands Laneige and Sulwhasoo.

    Founded in the 1960s, Time International manages multi-brand retail stores as well as mono-brand boutiques for such brands as Cartier, Chanel, Chopard, Diesel, Fendi, Fossil, Project X, Rolex, Sweet Monster and Tag Heuer.

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  • Japanese tariffs hobble Vietnamese tuna exports

    Japanese tariffs hobble Vietnamese tuna exports

    Thai and Filipino tuna exporters have accessed the market tariff-free for years. Vietnam’s tuna exports to Japan have steadily declined since 2013 due to exceptionally high tariffs, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

    Following a bilateral trade deal, Japan scrapped tariffs on Thai canned skipjack tuna, which carried a 3.2 percent tariff in 2009 and 1.1 percent tariff in 2011. During the same time, Japan has maintained a 6.4 percent tariff on similar products from Vietnam, according to VASEP.

    Japan extended the same policy to canned yellowfin tuna and frozen tuna loin, lifting duties entirely on Thai yellowfin imports in 2012 and Filipino imports the following year under the Generalised Systems of Preferences (GSP).

    During that time, Japan levied a 9.6 percent tariff on canned yellowfin tuna from Vietnam, even after the Vietnam – Japan Economic Partnership Agreement (VJEPA) came into effect in October 2009.

    The two countries have yet to set a timeline on lifting tariffs on Vietnamese tuna exports, which generates between $450-550 million, annually.

    Japan ranks among Vietnam’s top-eight tuna export markets and VASEP has called on the Ministry of Industry and Trade to negotiate a deal similar to the arrangement enjoyed by exporters in Thailand and the Philippines.

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  • Swire plans to double Qinyuan bakery China network

    Swire plans to double Qinyuan bakery China network

    Swire plans to nearly double the size of its Qinyuan bakery chain by 2020.

    Over the next three years, Swire Pacific plans to grow the number of its bakery shops in Chengdu, Chongqing and Guiyang to 1000 through its wholly owned subsidiary Swire Foods.

    The Hong Kong conglomerate believes the benefits from stable, long-term growth from the food market outweigh the small scale of the business compared with its aviation and property businesses, reports the South China Morning Post.

    Swire Foods last year paid HK$1.4 billion (US$200 million) for bakery chain Qinyuan. Selling Chinese and Western­-style pastries, it added more than 500 retail outlets in southwest China to Swire’s portfolio. The deal also included a 65,000 sq­m bakery goods factory in Chongqing. “Bakery is a very fragmented market in China,” says Swire Foods MD Max Lau. “We have not yet seen any player dominating the market, so there a big opportunity there.”

    He says the demand is set to rise because Chinese per-­capita consumption is currently low, with an average spend on bakery goods of around 140 yuan (US$20) a person annually. This is half the amount spent in Singapore, while people in Hong Kong spend three times as much as the mainland, and Japanese spend close to seven times as much.

    Lau says that while retail is being challenged by the rise of e­Commerce in China, “food retail cannot be replaced by e­Commerce just yet”.

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  • PLDT, Smart seal 5G partnership with Huawei

    PLDT, Smart seal 5G partnership with Huawei

    PLDT, together with its mobile arm Smart Communications, has signed a MoU with Huawei Technologies to jointly conduct research and development into 5G mobile technology.

    The goal of the partnership is to commercially launch 5G networks in in the Philippines by 2020, PLDT said in a statement released this week.

    Under the MoU, PLDT and Smart will work with Huawei to shape the strategic and commercial development of a 5G ecosystem in the country.

    The companies will identify and develop areas of technical innovation to deliver 5G. Plans include setting up a 5G innovation lab and the creation of a showcase network.

    Late last year, Smart and Huawei combined five frequencies through Carrier Aggregation (CA) to achieve data speeds of 1.4 Gbps. Smart also used CA in April 2016 to roll out a LTE-A service. Initially deployed in Boracay and soon in major urban areas such as Metro Davao, Metro Cebu, and Metro Manila, Smart’s LTE-A service delivers peak speeds of more than 100 Mbps to users with LTE-A capable devices.

    “Smart is focused on LTE, as it provides us the best platform to bring high-speed mobile internet throughout the country. LTE facilities, with strengthened transport links, can be quickly upgraded to LTE-Advanced (LTE-A), and will be an integral part of our future 5G network,” said Joachim Horn, chief technology and information advisor for PLDT and Smart.

    At present Smart is in the middle of a multi-year, multi-million dollar nationwide network expansion program to improve both coverage and quality of its 4G LTE service. A major leg of this network expansion was recently completed in Metro Davao, where Smart users are already reporting much improved mobile data experience, the operator said.

    The rollout is currently underway in Metro Manila and in Metro Cebu, and is expected to significantly boost Smart’s voice, SMS, and mobile data services – especially its indoor LTE coverage – in these urban centers. An upgrade of PLDT’s fixed access networks, part of the company’s transformation toward 5G-readiness, is also underway.

    “We are focused on ensuring that our current investments in network facilities will enable us to be ready with the necessary infrastructure foundation for 5G when it arrives sometime in 2020,” Horn noted.

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  • H&M hiring staff for first store in Hanoi

    H&M hiring staff for first store in Hanoi

    The Swedish fashion giant Hennes & Mauritz (H&M) is preparing for its Vietnam debut this year. The Swedish low-cost clothing outlet, H&M, announced it would open a store in Vietnam this year, making it the fourth fast fashion label to enter Vietnam after Zara, Mango and Gap.

    The company has remained circumspect about where and when the first outlet would open, but a source at the Manpower Group, a multinational human resource consulting firm, told it is handling the entire recruiting process.

    According to a recruitment announcement, H&M’s first store in Vietnam will occupy about 2,000 square meters in Hanoi and employ roughly 100 people.

    The firm also plans to hire employees in Ho Chi Minh City, according to the Manpower announcement.

    H&M currently operates around 4,200 stores across 64 markets.

    In spite of falling earnings, the retailer has shown no sings of slowing down its global expansion.

    In addition to Vietnam, it has announced the plan to open stores in Georgia, Colombia, Iceland and Kazakhstan this year.

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