Retail News CRM

Author: Mei Ling Tan

  • New York-based LAGUARDA.LOW ARCHITECTS has announced the completion of KK One

    New York-based LAGUARDA.LOW ARCHITECTS has announced the completion of KK One

    New York-based LAGUARDA.LOW ARCHITECTS has announced the completion of KK One, a new 1.1 million square-foot retail complex in Shenzhen. Set at the base of an expansive mixed-use complex encompassing three residential towers, four office towers, and one hotel tower, KK One connects two adjacent land parcels to create a premiere shopping facility in the city’s Futian District.

    The exterior swooping facade, composed of aluminum panels in three tones of gray, was designed to create a sense of movement around the dense blocks of high-rise towers. The aluminum skin gives unity to the site’s eight towers and peels back at several points to reveal a minimal glass and steel structure. To give the development a distinctive presence at night, rows of inset, vertical bands of LED lights illuminate the facade.

    The interior of the five-story mall is luminous with gently curving forms and a palette of white surfaces and clear glass throughout. Natural light permeates through the clerestory at the top level and four sky-lit atrium spaces. To soften direct light from above, LAGUARDA.LOW designed custom ceiling grids for the two main atrium spaces that filter daylight through five levels and create a dynamic pattern of light and shadow throughout the day. 

    “With five levels of shopping, food and entertainment and direct access to the subway, KK One was designed to be the center of commerce for this growing urban district,” states John Low, Principal of LAGUARDA.LOW.  He continues: “The fluid exterior façade and bright interior spaces create an inspiring destination for shoppers and a tranquil point of refuge from the fast pace of the city.” 

    The opening of KK One marks LAGUARDA.LOW’s second completed project for KingKey Real Estate Group, following the 2010 completion of KKMall in Shenzhen. The completion of KK One follows LAGUARDA.LOW’s recent announcement for the design of OCT Longhua – an expansive new 3.7 million square-foot mixed-use development in Longhua New District of Shenzhen.

  • DHL encourages employees to help local communities

    DHL encourages employees to help local communities

    Deutsche Post DHL calls upon its 500,000 employees to participate in Global Volunteer Day (GVD) for the sixth year in a row. During this year’s official GVD period, employees from all business units will again team up with independent organizations and charities to help in numerous non-profit projects to benefit the local communities in which they live.

    As Christof Ehrhart, Executive Vice President of Corporate Communications and Responsibility at Deutsche Post DHL Group, explains, the Global Volunteer Day 2016 motto – “Working Together for a Better World” – stresses the importance the company places on collaboration: “Employee volunteerism lies at the core of our efforts to connect people and improve their lives. Our GVD activities highlight the fact that when our employees join forces, not only do they donate their energy and skills to help their local communities, but they also grow together as a team. They achieve common goals, they enjoy and are proud of what they do, and they incorporate the GVD spirit into their daily work.”

    In addition to a wide range of specially planned activities for the core GVD period, many employees remain active year-round, cementing lasting ties with the charitable organizations with which they work. Entirely separate from GVD, more than 13,000 Deutsche Post DHL Group employees in Germany have volunteered to participate in initiatives to help refugees. The Group thus operates a dedicated fund to which employees can apply for financial support on behalf of the projects they themselves commit to all year round.

    The vast majority of GVD projects at Deutsche Post DHL Group focus on one or other of the company’s long-standing GoTeach, GoHelp and GoGreen initiatives. Many activities take place in kindergartens and schools, while others take the form of job application workshops.

    However, others see employees volunteer to help people in need, becoming involved in restructuring efforts to rebuild homes in the wake of natural disasters or by organizing donation drives. And as environmental protection remains a major concern for many employees, some choose to plant trees, clean waste from beaches and parks, and support the upcycling trend by turning old, discarded materials into something useful and new.

    Deutsche Post DHL Group launched Global Volunteer Day in 2008. By 2015, over 110,000 employees were involved in providing support to non-profit projects in their local communities as part of the GVD program, contributing more than 260,000 volunteer hours in more than 2,000 individual projects in 114 countries around the world. As an integral component of our Corporate Citizenship activities, Global Volunteer Day supports our sustainability strategy to serve the company’s economic interests and those of our stakeholders’ while balancing these with social and environmental needs.

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  • Currency hurt Walgreens Boots Alliance sales

    Currency hurt Walgreens Boots Alliance sales

    Walgreens Boots Alliance sales figures have been an early victim of the strengthening dollar, especially against sterling in which the majority of which Boots’ sales are denominated.

    This dynamic has turned a 1.4 per cent international sales gain in local currency terms into a decrease of 10.9 per cent in the final accounts. In turn, this has diminished overall turnover growth to a paltry 0.4 per cent – markedly down on the 35 per cent uplifts posted a year ago when not yet annualised Alliance Boots’ sales were providing a healthy boost to the figures.

    Fortunately, thanks to some one-off expenses and losses on equity interest last year – neither of which reoccurred this year – the bottom line outcome is strong, with net income rising by well over 3130 per cent. Given that Walgreens is still in the process of driving synergy savings from the Boots Alliance merger it will generate further profit uplifts well into the next fiscal, even against a more challenging growth backdrop.

    It is inevitable, however, that the returns from cost savings and the streamlining of the business will diminish over time. And given that the prospects for a recovery in sterling look slim, the company will need to look to its domestic operation to drive future growth.

    On this front there are two pieces of somewhat disappointing news from today’s results.

    The first is the merger with Rite Aid which was scheduled to close in the second half of this year has now been extended into the next fiscal. There is no real mystery about this – it comes down to the glacial pace at which the Federal Trade Commission, which is examining the deal, moves. However, the extension means Walgreens will not be able to rely on Rite Aid to boost its numbers in the next quarter. Longer term, the deal will be value accretive, mostly thanks to the forecast $1 billion in synergy savings and to the productivity improvements Walgreens can bring to Rite Aid’s rather lacklustre stores.

    The second concern comes from Walgreens’ front of store sales numbers in the US, which fell by 0.3 per cent on a comparable basis and by 0.5 per cent in total. Such an outcome is discouraging given that these had been on an upward trajectory thanks to the improvements the company has been making in its beauty offer. Given that Walgreens has also marketed its general merchandise offer more heavily this year, it is disappointing not to see gains in customer traffic. That said, the numbers are up against some tough comparatives from last year and with the new beauty offer continuing to attract interest from consumers, these metrics will strengthen over the holiday quarter.

    The new fiscal year presents Walgreens Boots Alliance with more opportunities than it does challenges. As such, after a softer start expect to see strong growth in both sales and profits across the year as a whole.

     

    -Neil Saunders

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  • Laziz Pizza to fast-track growth with 100 new stores

    Laziz Pizza to fast-track growth with 100 new stores

    Overwhelmed by response to its first 50 stores across India, local brand Laziz Pizza plans to double its outlets in the short term.

    Owned by Laziz Food and Beverages, the chain is primarily targeting tier-one, -two and -three cities.

    Founder/CEO Keirron Patil says the company started franchising in 2013, and as well as India now has its expansion sights set on Malaysia (it already has one store in Johor Bahru), Singapore, Sri Lanka, Bangladesh and Nepal.

    Laziz allows its franchisees to team its outlets with other brands so they can offer customers multiple products under one roof, including a vegetarian outlet. An unusual aspect of the Laziz business is that franchisees are not charged a royalty fee nor have to share profits with the franchisor.

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  • Starbucks Reserve Roastery Japan for Tokyo

    Starbucks Reserve Roastery Japan for Tokyo

    A Starbucks Reserve Roastery Japan will open in Tokyo’s Nakameguro district in 2018.

    Starbucks Coffee Company says the 1200 sqm space will be in an upscale neighborhood known for its boutiques and art galleries. It will offer customers an immersive coffee environment unlike any other in the market.

    Starbucks Roastery Lower Bar

    Customers will be able to watch green coffee beans arrive, connect with coffee specialists and master roasters and choose from a curated range of handcrafted beverages.

    Starbucks Roastery Scoop Bar

    Artisan food and breads baked on site by Italian food purveyor Princi will also feature at the roastery.

    Starbucks Roastery Copper R

    Architect and Tokyo Olympics 2020 designer Kengo Kuma is leading the design of the roastery, which will blend art and nature with a Japanese design sense to pay tribute to coffee artistry and craft. His design for the Starbucks store in Fukuoka has won awards.

    Starbucks Roastery Upper Bar1

    Starbucks Roastery Upper Bar

    Japan is one of the largest markets in Asia Pacific for Starbucks and is regarded as a key driver of the company’s global growth.

    Starbucks Roastery

     

    Starbucks Roastery had its debut in Seattle in 2014, the most successful store opening in the company’s history. The company has announced new Roastery locations for Shanghai next year and New York in 2018.

  • Asian duty-free market buoyant

    Asian duty-free market buoyant

    The Asian duty-free market is growing at five times the global growth rate.

    New data released by the travel retail trade association TFWA (Tax Free World Association) shows that sales in the first quarter of 2016 rose by 5 per cent in Asia-Pacific. Global growth was just under 1 per cent.

    The TFWA is optimistic that the duty-free sector “faces a bright future” at a time when other sectors of the international retail market are struggling.

    Global duty-free sales are estimated at US$62 billion according to duty free and travel retail specialist Generation Research. The market has been growing steadily for the past six years, and while it suffered a decline in 2015, the figures for the first quarter of 2016 show the business is back on its upward trajectory.

    The fragrance and cosmetics category is the main driver of growth globally and its sales were up 7.8 per cent in the first quarter, while sales of wines and spirits were up by 4 per cent. Sales on board ferries grew by 6.5 per cent, while airport sales remained stable.

    TFWA president Erik Juul-Mortensen said the figures allowed the sector to be cautiously optimistic and tips further growth from the booming air travel market.

    The trade association Airports Council International predicts passenger numbers worldwide will more than double from 2015, when the number of air travellers reached 7.2 billion, to just over 19 billion in 2035 – a compound annual growth of 5 per cent.

    The World Tourism Organisation’s says international tourist arrivals were up 4 per cent in 2015 to reach a record of 1.2 billion, 50 million more than in 2014. The latest figures for the first half of this year show that tourism got off to a strong start in 2016, with international arrivals up 4 per cent compared with the same period last year.

    “This can only be good news for our industry, and all the indicators would suggest that we have plenty to be upbeat about,” said Juul-Mortensen. “This is a great sector to be in, and with growth rates that have been, in many years, the envy of many high street retailers, duty free and travel retail presents a wealth of opportunities.”

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  • ICT vendors must prepare for China’s 13th Plan

    ICT vendors must prepare for China’s 13th Plan

    As China moves to implement its 13th Five-Year Plan, ICT vendors need to reassess their positions to take advantage of the major business opportunities it will offer, according to IDC.

    China’s 13th Five-Year Plan, and the decisions and policies introduced at the Third Plenary Session of the 18th Central Committee of the Communist Party of China will serve as the roadmap and action plan for the country’s economic development over the next five to ten years.

    Based on these two guiding documents and amid a challenging macroeconomic environment, the Chinese government has rolled out a host of policies and initiatives to advance the cause. These efforts will bring huge opportunities and become the cornerstone of China’s IT market in coming years, IDC predicts.

    IDC sees six areas that will be the foundation for China’s economic development as follows:

    1. Some 165 major projects to maintain economic growth – IDC estimates that total investment in these 165 projects will exceed 6 trillion yuan ($900 billion), generating over 500 billion yuan ($ 75 billion) in ICT business opportunities, with 300 billion yuan ($45 billion) alone in the rollout of 5G.

    2. Innovation to advance economic restructuring – The Chinese government has established innovation and entrepreneurship as two of its top policy initiatives to facilitate economic restructuring. IDC believes that such government-led endeavors will generate immense business opportunities for ICT vendors in ICT infrastructure; cloud computing and big data; mergers and acquisitions of startups; and the transition of traditional industries to digital.

    3. Policies to improve public well-being – In 2016, the State Council issued a joint initiative to promote Internet+Government services and kicked off 80 pilot cities with the One Window One Network plan that introduced interregional sharing of electronic certificates and public service information across government offices.

    For ICT vendors, the main business opportunities will be ICT infrastructure, cloud computing and services, big data platforms, smart community, and mobile apps, which are seen as the basis for the digital transformation of government.

    4. The Belt and Road Initiative to facilitate globalization – Initially introduced in 2013, this initiative has connected 18 of China’s provinces with nearly 40 countries along its route across Asia and Europe. For ICT vendors, IDC predicts the initiative to  give rise to abundant business opportunities as Chinese companies venturing abroad upgrade their IT systems, countries along the route construct their IT infrastructures, and China develops its own big data platforms for the initiative.

    5. Expanding Free Trade Zones – The first Free Trade Zone (FTZ) was established in Shanghai in 2013. In 2014, the second batch of FTZs was established in Tianjin, Guangdong, and Fujian. In 2016, Liaoning, Zhejiang, Henan, Chongqing, Sichuan, and Shanxi provinces were approved to set up FTZs. Currently, 11 FTZs have been established across China. Collectively, they support the Belt and Road Initiative in promoting globalization and the smooth development of China’s economy.

    According to IDC, ICT vendors should focus on developing smart parks, smart transportation, smart logistics, and other smart city projects, in addition to utilizing the cloud platform infrastructure to support the digital transformation of FTZ regions.

    6.China as an internet powerhouse – China’s national IT development strategy was first introduced in 2006 and has acted as the basis of many of China’s IT development policies since then. In 2016, the Chinese government introduced an outline that standardizes and guides the next 10 years of China’s IT development.

    To remain competitive in this market, multinationals will have to radically transform many things, including their domestic business models, strategic investment, technology transfer, equity transfer, and joint investment strategy.

    “ICT vendors should capitalize on China’s supportive policies and economic environment, making use of ICT technologies and displaying their strengths to discover the opportunities being brought by Digital Transformation,” IDC China VP and chief analyst Lianfeng Wu said.

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  • Nokia to transform Globe’s fixed, wireless networks

    Nokia to transform Globe’s fixed, wireless networks

    The Philippines’ Globe Telecom has contracted Nokia to transform the operator’s fixed and mobile networks into a flexible cloud-based infrastructure ready for 5G and the IoT.

    Globe has signed two frame agreements  with the vendor – one covering wireless networks and the other for IP, optical and SDN technologies – to set the stage for the upgrade.

    Under the collaboration, Nokia will deploy its 4.5G Pro technology including 5G-ready base stations and small cells, in the Visayas and Mindanao regions. Some of the areas in these regions will be receiving broadband for the first time as a result of the deployment.

    Nokia will also set Globe up to support mobile edge computing and advanced carrier aggregation technologies on its network.

    The fixed agreement will involve the deployment of IP, optical and carrier SDN technologies across the Philippines, allowing the operator to deliver coverage to more regions, and to provide flexible data services over Nokia’s SDN platform to enterprise customers nationwide.

    “As the Philippines’ leading fixed and mobile service provider, we are devoted to improving people’s connected lives day-by-day. With Nokia’s innovative technologies, we are confident to lead the 5G and cloud network evolution,” Globe CEO Ernest Cu said.

    Last week, Globe’s rival PLDT announced that its wireless division Smart achieved data speeds of 1.4Gbps over LTE-A during a trial conducted with Huawei. The trial used five-carrier aggregation technology to achieve the blazing fast speeds.

    “It will take time for carrier aggregation on five frequencies to be deployed, largely because capable handsets are not yet commercially available. But the excellent results of these tests have encouraged us to roll out LTE-A using two or three component carriers which can already be utilized by several handset models in the market,” PLDT and Smart CTO Joachim Horn said.

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  • Dtac, True slam new computer crime bill

    Dtac, True slam new computer crime bill

    Legal representatives from both TrueMove and Dtac have slammed the new computer misuse act for moving the burden of proof to ISPs to prove their innocence while True said that the Single Gateway government mass surveillance program was still alive and well.

    Speaking at a recent seminar entitled Online life: which way shall we go, Akarawit Jongsawasdiworakul from Dtac’s legal division said that unlike the US’ common carrier law, Thailand’s computer misuse act article 15 puts telcos at risk of criminal prosecution for the actions of their subscribers as service providers face the same criminal liability as their users for, say, an illegal posting.

    Dtac has to invest significant resources into monitoring its users to stay safe legally, resources that could have better been invested in 5G, he said.

    Unlike most aiding and abetting clauses in Thai law in which the aider gets two-thirds of the punishment, the computer misuse act doles out the same punishment to the service provider as it does to the criminal using it.

    However, the latest draft amendment is much worse. In trying to fix that glaring problem, the new version lays out a system where authorities can issue orders to service providers to block the offending post. The law then goes on to say that if the service provider can prove they complied with the order, then they are exempted from any punishment.

    Akarawit said that the computer misuse act shifts the burden of proof. Instead of the prosecution proving guilt, the service providers will now have to prove their innocence to a court.

    He also noted that under the current law, censorship orders must be only via a court order. The new version only needs an order from a “the official in charge” without any judicial oversight.

    Suporn Hornchaiya from True’s legal division, added that the definition of service provider is so vague that anyone with an unsecured WiFi hotspot would be subjected to the full force of the law.

    Suporn said that today authorities use article 20 to block websites, not just those which are a threat to national security or good morals which are allowed under the law, but also use it to block gambling websites and copyright infringement sites which is not allowed under the law. He noted that courts regularly grant blocking orders for the latter.

    Suporn said True has in the past appealed a court order, but the appeal was not accepted as the courts said that True was not an affected party to the blocking order.

  • Oysho lingerie arrives in Indonesia

    Oysho lingerie arrives in Indonesia

    Spanish lingerie brand Oysho, owned by Inditex, continues its international expansion with the opening of its first store in Indonesia.

    In Jakarta’s centre, the 300 sqm shop is in Plaza Indonesia, a shopping centre that is also home to other Inditex brands such as Zara, as well as luxury labels including Burberry, Chanel, Hermes and Louis Vuitton.

    oysho-store

    Since launching in 2001, Oysho has expanded its presence to 44 countries with more than 600 stores. The brand specialises in lingerie, sleepwear, loungewear and footwear. It generated 229 million euros (about US$252 million) in the first quarter of this year, representing an 8 per cent increase year-on-year.

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  • ITU pushes G.fast speeds to 2Gbps

    ITU pushes G.fast speeds to 2Gbps

    ITU standards experts have doubled the access speeds achievable with the G.fast standard, achieving the capability of enabling data rates of up to 2Gbps over traditional copper telephone last mile connections.

    The new standard has achieved first-stage approval, and is expected to see final approval by the end of the year, the ITU said.

    The third amendment of the G.fast standard doubles the aggregate net data rate achievable to 2Gbps using spectrum up to 212 MHz.

    According to the ITU, the update tot he standard maintains spectral compatibility with VDSL2, offering operators the ability to switch customers between the connection technologies as their demand fluctuates.

    “The amendment extends G.fast’s application to coaxial cable, enabling the coexistence of G.fast and satellite signals in coaxial cable infrastructure,” the ITU said in its announcement.

    “The amendment also specifies a mechanism for dynamic time assessment, functionality that enables upstream or downstream transmission to exploit G.fast’s full aggregate net data rate.”

    In addition, the ITU has completed and achieved first-stage approval for standards detailing commonalties in SDN and automatically switched optical networks, tools to meet the expected synchronization demands of 5G systems, and the characteristics of next-generation optical fiber.

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  • Yaok offers online service for luxury boutiques

    Yaok offers online service for luxury boutiques

    Chinese company Yaok has built an online reservation service for offline brand boutiques to tackle the online/offline conflict.

    It is the result of 10 years of market research the preparation, including five years of in-depth communication with more than 100 luxury brands.

    Founder/CEO Steven Yao says that many luxury brands, including Chanel and Dior, have realised the importance of the internet, but while finding online partners still have concerns about brand image.

    “Everyone is looking for an online solution, especially one that’s appealing to Chinese consumers,” he says. “Unfortunately, current Chinese online players can’t fulfill luxury-brand needs because of false brand perception, unfit target audience, and lack of control on product authenticity.

    “Some chose to set up their own eCommerce platforms, but found it difficult to attract traffic with one single brand.”

    Through Yaok, a brand can have its own official reservation platform, giving it absolute control in managing its image, product inventory, order status and customer database. It also allows instant communication between brand and customer.

    According to the China’s Fortune Character Institute, 73 per cent of Chinese consumers have a shopping list before overseas travel, 45 per cent of which cannot be fulfilled because of such factors as lack of desired size or model, resulting in loss of sales and unsatisfying customer experiences.

    Agreements in place

    Yaok lets customers reserve products in advance and have VIP services in store. Already the company has global or regional collaboration agreements with most international luxury brands.

    Yao says that when the platform officially launches at the end of next month, products from 80 per cent of luxury brands will be available. Users will be able to make VIP reservations in nine countries and regions.

    He estimates that 500,000 shoppers, all with a net wealth exceeding $2 million, will use Yaok to buy luxury goods globally. Its prestige service is either by invitation only or for current brand VIPs. Applications can be submitted via Yaok app or WeChat, but acceptance is not guaranteed.

    Yaok has completed two rounds of fundraising, with Feng Ye as angel investor.

    Yao was the first CEO for the Hurun Report, the magazine known for its “China Rich List”. Other core Yaok members have also worked in brand houses like Giorgio Armani or Louis Vuitton for more than 10 years.

    Yaok is affiliated to the Fortune Character group, founded in 2008, which specialises in researching the luxury market.

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  • Estee Lauder buys out Becca Cosmetics

    Estee Lauder buys out Becca Cosmetics

    Estee Lauder has signed an agreement to acquire Becca Cosmetics, a high-growth makeup brand offering complexion and color products that flatter a wide range of skin tones and enhance women’s features.

    Now the beauty giant says it wants to speed up the Becca Cosmetics’ brands rollout in Asia and further abroad.

    While the majority of the brand’s sales are in North America, it is currently engaged in a strategic global expansion with Sephora across Southeast Asia, Europe and the Middle East. Becca Cosmetics has a strong social media presence, with more than 1 million Instagram followers, and an engaged consumer base of all ages and backgrounds.

    Launched in 2001, Becca Cosmetics has experienced exceptional growth for years, with a curated product line-up including primers, concealers, foundations, blushes and highlighters that use “the beauty of light” to enhance the complexion. Most of the brand’s foundations are available in up to 20 shades, with half designed for medium to deep tones and half designed for light to medium tones.

    Since 2011, Becca has been led by president and CEO Robert DeBaker, and CFO/COO James MacPherson. It has been part of Luxury Brand Partners’ portfolio since 2012. The brand has a robust presence in specialty multi retailers Sephora and Ulta in North America, and is also sold in select department stores, as well as through BeccaCosmetics.com.

    “Becca Cosmetics is a wonderful addition to our portfolio of prestige beauty brands,” said Fabrizio Freda, president and CEO of The Estee Lauder. “Its unique focus on complexion products that flatter a wide range of skin tones, combined with its sophisticated yet accessible consumer and digital engagement across channels has inspired a devoted fan base. We see terrific growth opportunities for Becca as it expands globally and continues to cultivate its online and digital expertise.”

    “The Estee Lauder Companies is the ideal home for Becca,” said DeBaker. “The company has the scale and vision to help elevate Becca to its next phase of growth while encouraging us to continue to build our unique brand equity. We believe that beauty products should reflect a diverse range of skin tones and help all women create a naturally beautiful, yet individual look – and ELC is incredibly supportive of our mission.”

    Estee Lauder is one of the world’s leading manufacturers and marketers of skin care, makeup, fragrance and hair care products, its brands sold in more than 150 countries and including Estee Lauder, Aramis, Clinique, Lab Series, Origins, Tommy Hilfiger, Mac, Bobbi Brown, Donna Karan New York, Aveda, Jo Malone London, Michael Kors, Tom Ford, Smashbox, Ermenegildo Zegna, Tory Burch, Glamglow and By Kilian.

    Terms of the deal were not disclosed. The acquisition is expected to close in November.

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  • Singapore, Manila rise in retail rent rankings

    Singapore, Manila rise in retail rent rankings

    The data may be a little dated, but Asian cities are holding their own in the retail rent rankings.

    New York’s Fifth Avenue still tops the list with an average rent of US$3500 per sqft per year. Hong Kong’s Causeway Bay is cemented in second place at $2399 and the Champs Elysee in Paris a distant third at $1372.

    (It should be noted, the list ranks the single most most expensive shopping strip in each country, not overall.)

    Data released by Cushman Wakefield this month – albeit more than a year out of date – shows the Philippines making the biggest gain: retail rental rates in Manila’s Bonifacio Global City High St were a mere US$56.40 per sqft per annum, but that is enough to make Manila 51st on the top 65 list – up eight places.

    Singapore’s Orchard Rd ranked 14th – up two places – at $336.80 and Taipei’s ZhongXiao East Rd 20th, up three places, at $273.20.

    The Ginza in Tokyo,  Japan, ranks a modest eighth at $881.90 in a virtual tie with Myeongdong in Seoul, Korea at $881.80.  The Ginza has fallen from sixth in last year’s survey, while Myeongdong has dropped from eighth.

    Cushman & Wakefield stresses that the global rankings focus on high street locations. This excludes mall rental rates – and in cities like Manila, Bangkok and Kuala Lumpur, malls dominate the premium retail landscape, not high street strips.

    Vietnam’s Ho Chi Minh City CBD retail rents are more expensive than in Bangkok at $150.50 for 32nd place, and $125.40 for 35th respectively. Bukit Bintang in Kuala Lumpur, Malaysia, ranked 40th (up one place) at $111.

  • Bangladesh’s oldest cellco set to lose license

    Bangladesh’s oldest cellco set to lose license

    Bangladesh’s oldest mobile operator Citycell is on track to losing its license after failing to pay its required license and related fees.

    The CDMA-based Citycell had its spectrum revoked last week, and now the Bangladesh Telecommunication Regulatory Commission (BTRC) is seeking permission from the government to revoke the operator’s license.

    Citycell owes dues of 4.77 billion taka ($60.8 million), which include unpaid spectrum renewal fees, license fees, late fees and value-added tax.

    The Supreme Court had ordered Citycell to pay two thirds of the amount owed by October 19, but the operator only managed to pay 1.3 billion taka, and its spectrum was accordingly revoked the next day.

    The BTRC has been advising Citycell customers since the end of July to switch to another operator in preparation for the shutdown.

    Citycell commenced operations in 1993, but found itself relegated to a niche player as GSM outmatched CDMA by popularity. At its peak in 2011 the operator had around 1.9 million customers.

    Singtel is the largest shareholder in Citycell with a 44.54% share, while Far East Telecom has 17.51% of the company. These shareholders have been attempting to sell Citycell’s license for several years but have not found any buyers.

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