Retail News CRM

Author: Mei Ling Tan

  • New contenders for McDonald’s China and Hong Kong

    New contenders for McDonald’s China and Hong Kong

    Private equity firms Carlyle Group and TPG Capital have teamed up with two different Chinese state companies to bid for the McDonald’s China and Hong Kong franchise licences.

    The deal is said to be worth between US$2 billion and US$3 billion, reports the Straits Times.
    McDonald’s has previously said it is looking for long-term partners rather than private equity firms, which typically cash out after a few years.

    Carlyle is working with Chinese state conglomerate Citic Group and TPG has joined with Beijing Capital Agribusiness Group to place binding bids ahead of this month’s deadline. Beijing Capital Agribusiness is McDonald’s current China partner.

    Reuters says the US fast-food giant, hit by food-supply scandals in China, has hired Morgan Stanley to run the sale of about 2800 restaurants in China, Hong Kong and South Korea.

    The two private equity-backed groups are bidding only for China and Hong Kong outlets, going up against Beijing Tourism Group, China Cinda Asset Management and private Chinese technology and real-estate firm Sanpower Group.

    China and Hong Kong account for more than 85 per cent of the 2800 outlets on the block.
    Meanwhile, South Korea’s Maeil Dairy Industry Co says it is considering bidding for McDonald’s Korean outlets, which are expected to fetch about $268 million. Interest has already been shown by CJ Corp and NHN Entertainment Corp.

    Changing to a less capital-intensive franchise model, McDonald’s is offering a 20-year franchise to buyers, with a 10-year extension option.

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  • LeoSat pre-signs first customer for LEO network

    LeoSat pre-signs first customer for LEO network

    Low-earth-orbit satellite network operator startup LeoSat Enterprises has signed up its first customer – a globally operating financial trading company.

    LeoSat is building a constellation of up to 108 low-earth-orbit communications satellites that aim to provide fiber-like speeds with lower latency than traditional satellite and terrestrial networks.

    The financial trading company customer plans to take advantage of this low latency to improve its automated algorithmic trading efficiency.

    LeoSat can offer an average round trip latency of less than 93ms from London to Tokyo and under 119ms from Singapore to London, by using optical inter-satellite links to create fiber-like symmetry at Gigabit speeds.

    Data is also encrypted and secured from end-to-end across the network, with no terrestrial touch points to expose the data.

    “We are excited to be in a position to announce our first customer almost four years ahead of the commercial launch of our system and while doing so, also venture into a market sector where traditional satellite systems have never had any suitable product offering,” LeoSat chief commercial officer Ronald van der Breggen said.

    “In addition to it being proof of our claim to be a game changer in the satellite communication industry, we take this customer contract as a very strong endorsement of our plans to offer global, low-latency, high-throughput satellite capacity, using a Low Earth Orbit constellation.”

    He said the company has already seen a high level of interest from the finance, enterprise, government and energy sectors ahead of the planned launch.

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  • SEA e-commerce revenue to pass $25b by 2020

    SEA e-commerce revenue to pass $25b by 2020

    Southeast Asian e-commerce revenues are likely to exceed $25 billion by 2020, Frost & Sullivan has predicted.

    This is more than double the $11 billion revenue in 2015, which the analyst firm said was achieved despite many setbacks as acquisitions, market exits and retailers’ struggles with profitability.

    New research, however, shows that growth will continue as the industry evolves.

    In 2015, Malaysia and Thailand were the largest e-commerce markets in Southeast Asia in 2015, generating revenues of $2.3 billion and $2.1 billion, respectively.

    Frost & Sullivan’s study, however, noted that both of these markets are expected to be eclipsed by emerging economies in Southeast Asia, including Vietnam and Indonesia.

    Meanwhile, total revenues from business-to-consumer (B2C) e-commerce in the six largest Southeast Asian countries – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam – are projected to increase at a compound annual growth rate (CAGR) of 17.7%.

    “Despite being relatively young, the e-commerce market in Southeast Asia is developing quickly, thanks to the astounding rate of digital adoption in the region,” said Cris Duy Tran, lead consultant in e-commerce and digital transformation, at Frost & Sullivan Asia-Pacific.

    He said though that with fewer players in the market, e-commerce firms are beginning to compete beyond price points and logistics and moving into new areas such as Online-to-Offline (O2O) e-commerce and loyalty programs.

    Meanwhile, services such as Carousell, Tokopedia, and Shopee are aggressively pursuing a ‘mobile first’ strategy, and Frost & Sullivan expects to see more sector-specific services in areas such as travel, food delivery, and luxury goods.

    Challenges, however, remain such as low credit card ownership that stands at less than 7% in all Southeast Asia markets (except for Singapore and Malaysia).

    In some countries, more than 50% of the population does not have bank accounts, making payment the biggest challenge for e-commerce companies in the region. Logistics is another issue hampering e-commerce growth, especially in areas with complex geographies such as Indonesia and the Philippines.

    “The region is well-positioned for more M&A activities during the forecast period, and we expect to see more exciting market developments in the near future,” concluded Tran.

  • Axiata may lift stake in Singapore’s M1

    Axiata may lift stake in Singapore’s M1

    Malaysia’s Axiata Group is considering increasing its stake in Singapore’s M1 as a strategic investment.

    Axiata CEO Tan Sri Jamaludin Ibrahim told that the company would “seriously consider” lifting its stake in M1 “if the price is right”.

    Axiata is already M1’s largest shareholder with a 28.5% stake. M1’s second largest shareholder Keppel Corp’s parent company Temasek Holdings is meanwhile reportedly considering selling Keppel’s stake in the operator.

    But the prospect of heightened competition in Singapore’s mobile market arising from the award of the nation’s planned fourth mobile license may limit the attraction of a potential deal.

    Jamaludin told that the company is not pursuing any major mergers and acquisitions, noting that even if the group wanted to expand into another country, the opportunity is not there.

  • Nokia launches 5G Acceleration Services

    Nokia launches 5G Acceleration Services

    Nokia has launched a new service designed to help operators develop a plan for their 5G transformation.

    The new Nokia 5G Acceleration Services will help operators carry out the required business, network and operational transformation to prepare for a 5G programmable world.

    Operators will be able to develop a tailored transformation plan, prepare and design multi-vendor 5G networks and define the pace of investment and adoption of new technologies.

    Services will include collaborative customer workshops, technical and economic analysis, a 5G spectrum assessment, technology workshops and radio access network design support.

    IDC research director for EMEA Telecommunications commented that industry adoption of 5G will take a different path compared to 4G.

    “For one thing, this time the use cases are developing ahead of the technical standard. That’s healthy for the industry, but will also require networks to support myriad performance profiles fairly rapidly,” he said.

    “Operators thus have to make sure that their 5G evolution plans incorporate both upgrades to their networks and advancements in their operational capabilities. If they can start to monetize new use cases while still migrating toward 5G, so much the better.”

    At CTIA Super Mobility 2016, tomorrow, Nokia CEO Rajeev Suri plans to lay out the ways the vendor is preparing operators for the coming of 5G – including by commercially launching 4.5G Pro network technologies – and to highlight emerging use-cases for 5G.

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  • Delsey Philippines flagship opens

    Delsey Philippines flagship opens

    French luggage brand Delsey has opened its first flagship in the Philippines.

    The Delsey Philippines store’s opening coincides with the brand’s 70th anniversary and marks another Asian market in a growing footprint in the region.

    Located in Ayala, Glorietta 4, the store follows the global concept “Maison de Voyages” featuring French design features such as European tiles, Chen Karlson drop lights and moldings bearing a resemblance to the Louis XVI era.

    “This new store concept is in line with Delsey’s global standing as the premier French luggage brand,” said Reginald de Vera, brand manager of Delsey. “We are very happy to set up more Delsey Maison de Voyage stores in the Philippines as these will transform the way Filipinos shop for luggage and other travel necessities.

    “This is also a good venue for us to showcase our collections that are innovative, stylish and very French,” he said.

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  • Uniqlo overseas push pays off for Fast Retailing

    Uniqlo overseas push pays off for Fast Retailing

    Fast Retailing raised its full-year earnings forecasts after sales at its Uniqlo casual-wear stores in China and South Korea grew more strongly than expected during the first half of the financial year, showing its overseas expansion is bearing fruit.

    Overseas growth is key to the Japanese firm’s goal of becoming the world’s top apparel retailer by 2020 ahead of Zara owner Inditex, Hennes & Mauritz and Gap.

    Chief executive Tadashi Yanai said Fast Retailing would have more Uniqlo outlets overseas than in Japan by this autumn, with openings in mainland China, Hong Kong and Taiwan to continue at break-neck pace.

    “Maybe in about five years, we’ll have 1,000 stores [in China],” he said, compared with 415 at the end of February. “Eventually we want to have about 3,000 stores [there].”

    Uniqlo, known for its HeatTech fabric technology and rainbow-coloured basics, now has close to 1,600 stores globally, with about 46 per cent of those outside Japan.

    Fast Retailing said it now expected operating profit of 200 billion yen for the financial year to August, up from its previous estimate of 180 billion yen. The average forecast of 22 analysts was for 197.25 billion yen.

    Asia’s biggest apparel retailer also bumped up its revenue forecast to 1.65 trillion yen from 1.6 trillion yen and its net profit estimate to 120 billion yen from 100 billion yen.

    Overseas sales at Uniqlo jumped 49 per cent in the first half from a year earlier, led by China and Korea, although the United States remained a weak spot. The firm did not break out sales results by country, only saying whether they met its targets.

    In Japan, sales rose 12 per cent during the period as shoppers snapped up items like its ultra-light down jackets and extra-fine merino sweaters.

    Fast Retailing also got a boost from the yen’s depreciation, booking a 13.5 billion yen foreign-exchange gain for the six-month period.

    But the company also warned it was facing rising import costs from the weaker yen. As a result, it will raise prices by 10 per cent on average for roughly a fifth of its products in the next autumn/winter season at Uniqlo Japan.

    Shares in Fast Retailing have gained 10 per cent in the year to date, while the Topix Index is up 13 per cent.

    Separately, Britain’s Co-operative Group, the supermarkets-to-funerals operator that almost collapsed in 2013, said it had been rescued by selling assets including its pharmacies and could now focus on rebuilding.

    Co-operative reported pre-tax profit of £124 million for the year to January 3, against a loss of £255 million a year earlier, on revenue of £9.4 billion, helped by disposals.

    The mutually owned group said it had emerged from the rescue phase of a three-year turnaround as a slimmer business focused on its food stores, funerals, insurance and legal services. It has cut net debt to £808 million from £1.4 billion.

    Chief executive Richard Pennycook said the hard work of rebuilding the group was under way after the completion of its rescue plan.

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  • British bank names first Filipino CEO

    British bank names first Filipino CEO

    Standard Chartered Bank, a British financial services company and the oldest international bank in the Philippines, has announced the appointment of Lynette Ortiz, currently managing director and head of international corporates and financial institutions, as the new chief executive for the Philippine branch effective Oct. 1, 2016.

    Ortiz will replace Anirvan Ghosh Dastidar, who has been appointed as the new chief executive of Standard Chartered Brunei effective same date.

    New Standard Chartered Bank Philippines
    chief executive Lynette Ortiz

    Ortiz returned to Manila in June this year from her regional posting as head of capital markets for Asean based in Singapore. She has gained reputation as a highly regarded banker both locally and within the region having led a number of landmark transactions for Asean issuers, in both domestic and international markets, in recent years.

    Prior to assuming her regional role, Ortiz was financial markets and capital markets head for the Philippines. She has over 25 years of solid banking experience starting with Citibank in New York, and has held senior roles in risk management, treasury, corporate finance and capital markets in foreign and local institutions.

    Coming back to lead the Philippine branch is both pride and tall order for Ortiz. In May, Standard Chartered announced an agreement with EastWest Bank for the transfer of retail banking business which is expected to be completed within the year.

    Post the retail business transfer, Standard Chartered in the Philippines will be operating as a purely corporate and institutional bank. “Our corporate and institutional banking business in the Philippines has built a strong track record as a leader in providing client-centered value propositions that are innovative and transformative. Over the recent years, the business has seen sustained growth in securing mandates for capital markets, corporate finance and transaction banking segments,” Ortiz said.

    Standard Chartered takes pride in having Ortiz as the first female Filipino CEO for its Philippine branch. The bank said that under the leadership of someone with such caliber and solid background in corporate banking, financial and capital markets, it is confident of Ortiz as its new country head.

    “Her appointment demonstrates the bank’s recognition of a local talent that is truly global in quality and competency. Given Lynette’s extensive banking experience, knowledge of the markets and strong client relationships, she will play a key role in delivering growth momentum and further deepen our corporate and institutional banking business in the Philippines,” said Dastidar, the outgoing chief executive.

    Ortiz is expected to lead SCB Philippines’ efforts to build its clout in the developing and growing capital markets in Asean, in a bid to support the financing and investment requirements of its clients in the Philippines, including business players who are actively bidding for major infrastructure projects in the public-private partnership program.

    Standard Chartered has been present in the Philippines for over 144 years, and is the oldest international bank in the country. The bank views the Philippines as a strategic part of its Asean network, and it represents a key part of the bank’s unique international network.

    Standard Chartered has played a key role in helping fuel the Philippines’ trade, economy and markets, participating in the PPP projects, as one of the book-runners in the Republic’s sovereign bond issuances, developing and growing capital markets, acting as a sovereign ratings advisor and supporting corporate clients’ growth into international markets.

    “The work that we have done and continue to do both domestically and overseas with large corporates in the country and with the Republic itself is testament to the importance of the market to us, and of the differentiated value that we bring to it,” said Ortiz.

     

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  • World’s Largest Watch & Clock Fair Opens in Hong Kong

    World’s Largest Watch & Clock Fair Opens in Hong Kong

    The 35th HKTDC Hong Kong Watch & Clock Fair, the world’s largest timepiece event of its kind, opened today and continues through 10 September at the Hong Kong Convention and Exhibition Centre (HKCEC). Organised by Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades and Industries Ltd, the fair features more than 800 exhibitors from 27 countries and regions, including first-time participating countries and brands from Australia, Hungary, Iran, Lithuania, Monaco, Thailand and Turkey.

    Gregory So, Secretary for Commerce and Economic Development of the Hong Kong SAR Government, was guest of honour at this morning’s opening ceremony. A highlight of the five-day fair is Salon de TE, a top-tier brand showcase for the trade that will also be open to public visitors (aged 12 or above) free of charge on the last day of the fair (10 September), with timepieces from more than 80 brands available for sale to the public.

    Premium watches at Salon de TE

    Salon de TE spotlights premium watch brands and unique watch designs, gathering 150 international brands at five thematic zones: World Brand Piazza, Chic & Trendy, Craft Treasure, Renaissance Moment and Wearable Tech. World Brand Piazza presents artisan masterpieces from 13 renowned international brands, including Blancpain, BOVET, Breguet, BVLGARI, Chopard, CORUM, DeWitt, FRANCK MULLER, Glashutte Original, H. Moser & Cie, Jaeger-LeCoultre, Piaget and Zenith.

    Chic & Trendy gathers a wide range of stylish wrist watches. Craft Treasure showcases high-end functional mechanical watches and jewellery watches. Renaissance Moment presents classic European watches in various styles, including the Swiss Eminence pavilion showcasing six top-quality Swiss brands and the Swiss Independent Watchmaking pavilion showcasing seven Swiss independent watchmakers’ collections. Wearable Tech features watches that combine new technology and stylish design.

    Salon de TE and the Watch & Clock Fair gather a wide range of eye-catching wrist watches, including:

    – Piaget’s world’s slimmest mechanical jewellery wrist watch Altiplano, priced at over HK$1.4 million. (around US$181000) (Booth no.: 3E-WBP)

    – Jaeger-LeCoultre’s Reverso Cordonnet Duetto, featuring a double-dial design with a single movement driving both front and back dials to show time, valued at HK$1.9 million. (around US$245000) (Booth no.: 3E-WBP)

    – Boegli’s Grand Opera series musical watches are equipped with a musical module and mechanical movement, capable of producing 17 notes to play classical musical pieces. Only 99 pieces are available for this limited edition watch. (Booth no.: 3E-D44)

    – Kronsegler’s da Vinci automatic mechanical watch KS 745 combines art with function by featuring a rotating 24-dial of Da Vinci’s Vitruvian Man with the figure’s head indicating the current time. (Booth No.: 3D-B43)

    – Memorigin’s Marco Fu watch series is themed around snooker with three black diamonds set at the 1, 4 and 7 dial markers, representing snooker player Mr Fu’s 147-point scoring record. (Booth No.: 3E-E18)

    – AKTEO’s finance-themed watch Wall Street 42, in which the hour hand shows the Wall Street Journal, the minute hand a US bank note, and the second hand a 999.9 gold bar. (Booth No.: 3D-A38)

    – FIYTA’s 3D Time, which emphasises 3D art, was awarded the Red Dot Academy Awards in industrial design in 2014. (Booth No.: 3E-E37)

    Smart watches as market spotlight

    Responding to the increasing popularity of smart watches, the industry is focused on creating more high-tech timepieces. Pure Performance Distribution Limited’s Garmin fenix(R) 3 HR multisport training GPS watch, with feature sets for fitness training and outdoor navigation, provides users with reliable fitness and GPS data for their daily life and for professional training. As such, this year’s fair introduces a new zone, OEM Smart Watches, showcasing the latest OEM designs. Among the exhibits, Montrichard (HK) Ltd’s smart watch Chronologia is capable of dual-time display and alarm, and can be connected to a smartphone to display lost-phone notification, SMS, fitness tips and more.

    Another dedicated zone, Pageant of Eternity returns this year to spotlight an endless range of complete watches. Other exhibiting categories consist of Complete Watches, Clocks, Machinery & Equipment, Packaging, Parts & Components and Trade Services.

    Over 70 buyer missions coming to do business

    During the fair period, the HKTDC has organised more than 70 buyer missions, comprising about 4,000 buyers from 50 countries and regions, including renowned watch and clock manufacturers, buyers and retailers, such as Rivoli Group from the Unite Arab Emirates, Abiste from Japan, Dakota Watch from the United States, Birks Group from Canada, Gmarket from South Korea, S Bacher & Co. from South Africa and Crystal Time from Singapore. Apart from Salon de TE, the popular hktdc.com Small Orders zone is featured in the lobby of Hall 1D with some 160 clock and watch showcases, targeting buyers looking to source products in minimum quantities of five to 1,000 pieces. Some of the items are also available for orders online. The award-winning entries of the 33rd Hong Kong Watch & Clock Competition are also on display in the lobby of Hall 1B to showcase local designs to international buyers.

    More than 30 events, including seminars, networking events and watch parades will be organised during the fair period to facilitate exchange of market information among industry players. Highlighted events include the Hong Kong International Watch Forum held this afternoon while the Asian Watch Conference, to be held tomorrow afternoon, will look at developing trends related to the smart wearable tech sector and the Internet. Celebrities, including Alex Lee, Lisa Ch’ng, Derek Wong, Karena Ng, Wong You-nam, Ma Wing-shing and Marco Fu, will take part in product launches. On Public Day (10 September), visitors can take part in a series of entertaining activities as well as two lucky prize draws.

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  • Visit ASEAN@50 Tourism Branding Unveiled

    Visit ASEAN@50 Tourism Branding Unveiled

    The Association of Southeast Asian Nations (ASEAN) today revealed the branding for its “Visit ASEAN@50 Golden Celebration 2017” tourism campaign.

    The branding was unveiled by the 10 ASEAN heads of state at the ASEAN Summit in Vientiane, Laos today.

    The new campaign will promote the twin objectives of commemorating the 50th anniversary of ASEAN in 2017, and embracing the ASEAN region of Southeast Asia as a single and united, yet diverse, tourism destination.

    Further objectives of the Visit ASEAN@50 campaign include raising international visitor arrivals to Southeast Asia from 108.9 million in 2015 to 121 million by the end of 2017 and increasing tourism receipts from USD75 billion in 2014 to USD83 billion, also by the end of next year.

    Multiple activities and promotions will be announced to drive the campaign. Visit ASEAN@50 partners will be revealed at the ITB Asia travel industry show in Singapore in October. Special travel experiences and offers will be announced at the World Travel Market in London in November. 

    “ASEAN’s Golden Jubilee serves as a great opportunity for our 10 member states to celebrate Southeast Asia’s strength through diversity as the world’s fastest growing tourism destination,” said Mr Thongloun Sisoulith, Prime Minister of Lao PDR and Chairman of the ASEAN Summit. “Visit ASEAN@50 will contribute towards our vision of creating a cohesive ASEAN economy,” he said.

    Key target markets for ASEAN’s 50th anniversary tourism campaign in 2017 will be long-haul markets such as Europe, Middle East and North America, as well as intra-ASEAN, China, Japan, Korea, India and Australia.

    The ASEAN Tourism Competitiveness Committee, which is responsible for the tourism campaign implementation with partners, says planned ASEAN@50 marketing activities include: 

    • “VisitASEAN@50” official launch at the ASEAN Tourism Forum early January 2017 in Singapore
    • Media familiarisation trips showcasing ASEAN connectivity and multi-country travel routes
    • Special tour packages with offers, special airfares, shopping discounts for travel in 2017 (details to be revealed at WTM London, November 2016)
    • Campaign promotion in international travel trade shows in key source markets
    • Cooperative marketing programs with travel, media and airline partners (to be announced at ITB Asia, October 2016)
    • Print and online advertising, as well as TV, video and promotions
    • Social media campaigns to enhance consumer engagement
    • Promotional programs by ASEAN’s national tourism offices targeting trade, consumer and MICE markets throughout 2017

    The 2017 50th anniversary tourism campaign is part of the ASEAN Tourism Strategic Plan 2016-2025, which was adopted by the association’s tourism ministers in Manila in January 2016.

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  • Samsung issues recall of Galaxy Note 7 globally

    Samsung issues recall of Galaxy Note 7 globally

    Samsung Electronics is recalling about 1 million units of its Galaxy Note 7 smartphone sold globally after a series of reports on battery explosions since its launch on Aug. 19.

    The company said all the phones will be exchanged with new ones regardless of battery functions. Considering inventories, the recall will affect some 2.5 million Note phones produced, it added.

    Samsung Electronics mobile chief Koh Dong-jin apologizes at a press conference held in Seoul

    “We have concluded that defective battery cells have caused the recent explosions. Among 1 million units sold, 24 have been found to have faulty batteries,” said the company’s mobile chief Koh Dong-jin at a press conference held in Seoul on Sept. 2.

    “Even though our investigation is ongoing, we have decided to exchange all the phones considering growing safety concerns among customers,” he said.

    Samsung has suspended shipments of the big-screen Note phone since early this week after several reports in Korea and abroad claiming that the phone exploded while charging. No injuries have been reported.

    The recall is expected to start from Sept. 19 in 10 countries, including Korea and the US.

    In Korea alone, some 400,000 preorders have been made.

    Koh declined to reveal the cost of the planned recall, saying: “It is a huge amount. But we have decided to do so for the safety of our customers.”

    Considering the retail price of Korea at 988,900 won (US$881), the company is recalling an estimated 2.5 trillion won (US$2.2 billion) of Note phones.

     

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  • AirAsia’s Tune Labs, rewards program startup ZAP form JV

    AirAsia’s Tune Labs, rewards program startup ZAP form JV

    Tune Labs, a venture capital vehicle formed by AirAsia founders Tony Fernandes and Kamarudin Meranun, has entered into a joint venture with top Philippine rewards and loyalty program ZAP.

    The partnership will see AirAsia BIG, the loyalty program for AirAsia and the Tune group of companies, leverage on ZAP’s platform to allow BIG members to earn and redeem points from daily purchases at physical stores with just a mobile number.

    Based in Kuala Lumpur, Malaysia, Tune Labs was launched last April 2015 as a startup incubator and accelerator program aimed mostly at the Southeast Asia region. Its goal is to identify, fund and nurture early stage companies in the travel, finance and retail sectors.

    The advanced AirAsia BIG loyalty program will be launched in the third quarter of this year tartegeting over 100 partner establishments in Kuala Lumpur, Malaysia before expanding to neighboring countries in Southeast Asia. Partners will include restaurants, services, and retail shops in commercial centers.

    AirAsia BIG has over 17 million members across the Asia-Pacific region and was recently named Loyalty Programme of the Year at the 2016 Loyalty & Engagement Awards.

    AirAsia BIG CEO Eddy Leong said customer loyalty is a large part of AirAsia’s success and the joint venture is part of their retail strategy.

    “ZAP is the tech partner to help AirAsia BIG achieve our goal of having loyal customers earn BIG points and redeem for their flights faster and easier than ever, by rewarding members’ everyday life,” Leong said.

    According to ZAP CEO Dustin Cheng, the partnership will fast-track ZAP’s expansion through the region.

    “The joint venture allows us to leverage on millions of AirAsia’s customers,” Cheng said. “Our goal in ZAP has always been to empower merchants of all sizes with an easy-to-use loyalty and CRM platform.”

    Founded in 2012, as a mobile number-based loyalty program for brick-and-mortar merchants, ZAP is one of 26 digital tech startups funded by Kickstart Ventures Inc, a wholly-owned venture capital subsidiary of Globe Telecom Inc.

    ZAP today caters to over 300,000 members and works with close to a thousand partner establishments within Metro Manila in the Philippines.

    Kickstart president Minette Navarrete said the ZAP co-founders have the high energy and agility to expand across the region, and the joint venture capitalizes on AirAsia BIG’s scale and ZAP’s growth momentum.

    “AirAsia and the Tune group of companies are among Southeast Asia’s success stories, with an ethos we truly admire. The ZAP founders have proven their ability to effectively drive customer and revenue growth, and adoption of a technology platform in a high-touch retail environment,” Navarrete said.

     

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  • Furla reports 38% H1 travel-retail sales increase

    Furla reports 38% H1 travel-retail sales increase

    Italian luxury leathergoods brand Furla has reported a 38% travel-retail sales increase in H1 2016.

    Furla currently has 223 travel-retail points of sales in 52 countries, the most recent openings in Bucharest Henri Coandă International airport and Singapore Changi airport terminal two with Lagardère Travel Retail.

    Following record results in 2015 in terms of sales and profitability, the Furla Group overall has continued growth in the first half of 2016 registering €194m ($217m) in sales versus €151m in H1 2015, an increase of 28%.

    This increase is equal to +27% at constant exchange rates and proves Furla Group’s growth is well distributed worldwide thanks to increases in sales ranging between +22% and +34% in all geographical areas where the brand is present.

    The Furla Group now counts 425 mono-brand stores, up from the 415 units registered at the end of 2015. Around 50% of these mono-brand stores are composed of property and franchising points of sale.

    Counting multi-brands and department stores, the Furla Group is present in more than 1,200 other locations worldwide. It is directly present in more than 100 countries with its products.

    Furla Group, recently opened new mono-brand stores in locations such as Citic Mall in Shanghai, Mira Mall in Hong Kong, GUM in Moscow and in Nice. In the second semester of 2016, the Furla Group plans to open new stores in London (Brompton Road) and in Paris (Rue du Faubourg Saint Honoré).

    Japan remains its strongest market, representing 26% of total sales in the semester with a 30% increase just like the US. In Europe, sales excluding Italy—that alone is responsible for a 34% sales increase—have increased by 26%. Asia/Pacific sales have risen 22%, equal to almost 20% of the total sales for the Group. Like-for-like sales have also surged significantly with well-balanced results across all regions.

    In 2016, Furla Group, which boasts a 1,500-strong workforce, intends to increase investments in areas that already appreciate the brand and where the Group sees even more potential: marketing, communications, digital and e-commerce markets.

    Furla Group general manager Alberto Camerlengo said: “We’re extremely proud of our results for the first half of the year. The Furla Group continues to grow exponentially both geographically and across the different product categories, continuing to assert itself on a global level as one of the leading Brands in all markets.

    “The quality, freshness and innovative aspects of our products are recognised all over the world and we have been able to achieve these results thanks to the commitment and dedication of our team. We will continue to work towards new growth goals, opening new distribution channels, reinforcing existing relationships and focusing on new projects for the future.”

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  • Volkswagen sets up shop in Malaysia to handle direct sales here

    Volkswagen sets up shop in Malaysia to handle direct sales here

    Volkswagen Passenger Cars Malaysia (VPCM) Sdn Bhd will be the official distributor of Volkswagen cars in the domestic market.

    VPCM is managed by European automotive retail specialist, Porsche Holding Salzburg, the car distributor said in a statement.

    The announcement comes after a series of consolidation exercises within Volkswagen Malaysia over the past six months.

    Alin Tapalaga, one of two managing directors to lead VCPM, said the company would be increasing the Completely Knocked-Down model line-up, and continue to import Completely Built-Up models into the country.

    Moving forward, Volkswagen Group Malaysia will concentrate its business interest in Malaysia on the Audi brand, as well as its vehicle assembly operation in Pekan, Pahang.

    Meanwhile, VPCM is introducing a five-year manufacturer warranty for all Volkswagen cars purchased from today, while launching the new Jetta and all-new Passat within the next few months.

    The Volkswagen franchise in Malaysia was previously handled by DRB-Hicom Bhd.

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  • Wine Australia store launched on Alibaba

    Wine Australia store launched on Alibaba

    Australian wines are set to get a big boost in China from e-commerce giant Alibaba Group’s latest venture.

    An online “flagship store” featuring Australian wine has been launched on Alibaba’s business-to-consumer platform Tmall.com.

    Alibaba’s online retail sites cater to 434 million Chinese consumers, and the group generates half of China’s online wine sales.

    The new store on Tmall, supported by Wine Australia and operated by Chinese online retailer Vinehoo.com, will initially stock 10 brands from eight Australian wine regions, followed by another 20 brands in coming months. The first brands to be featured include Brokenwood, Coriole, John Duval, Pikes and Voyager Estate. Wine Australia does not select the brands. Wine Australia chief executive Andreas Clark said Alibaba was a significant player in Chinese e-commerce — a massive company with great reach. “The muscle they can bring, potentially, to further increasing Australian wine sales is vitally important,” Mr Clark said.

    China’s food and wine culture is still evolving, he said, and more Chinese consumers are looking online for premium products.

    “Our support of Tmall’s flagship Australian wine store helps us capitalise on this growing interest in Australian wine and gives us the opportunity to further reinforce the message with consumers that wines of Australian provenance are of the highest quality,” Mr Clark said.

    Alibaba’s managing director for Australia and New Zealand, Maggie Zhou, said Australian wines are considered world-class, and come at varied price points, so the opportunity to sell to China’s growing middle class is significant. Mainland China is now Australia’s second most valuable export market after the US.

    Total Australian wine exports to mainland China in fiscal 2016 rose 50 per cent to $419 million. Exports of wine priced at $10 or more per litre grew 71 per cent to $169m.