Retail News CRM

Author: Mei Ling Tan

  • Dairy Farm exits Starmart Indonesia

    Dairy Farm exits Starmart Indonesia

     

    Convenience store and grocery retailer Hero Supermarket is to exit the troubled Starmart Indonesia business.

    Hero, a subsidiary of Hong Kong-headquartered Dairy Farm International, has announced the sale of 80 stores to Fajar Mitra Indah, a subsidiary of Wings Group, an Indonesian food conglomerate which owns the FamilyMart franchise in the country. The networks will be merged by the year’s end under the FamilyMart banner, taking that network to 80.

    The sale follows the closure of 50 poorly performing stores in the network last September after a long-running strategic review. The balance of the stores – the number of which is undisclosed – will be shuttered.

    The Starmart business had effectively been kneecapped by rapidly implemented Indonesian government policies, most significantly a ban on convenience stores selling alcohol which took effect last April. A general economic slowdown has not helped sales of other goods.

    In a statement, Hero said it would withdraw entirely from the convenience stores business in Indonesia. No transactional details were revealed but the company said the closure would have no material impact on its trading figures this year.

    Both Starmart and FamilyMart are relative minnows in the Indonesian convenience store sector – local chains Alfamart and Indomart – each about 10,000 outlets strong – dominate.

    According to a report in the Nikkei Asian Review, Hero’s profit fell 90 per cent in 2014 and slipped into the red in 2015. Its supermarket business is under pressure from discounters and the company has also shuttered a number of unprofitable Guardian drugstores.

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  • Global duty free retailing to hit US$98 billion

    Global duty free retailing to hit US$98 billion

    Global duty-free retailing is expected to reach nearly US$98 billion in revenue by 2019, according to a new study by global technology research and advisory company Technavio.

    With the expansion of low-cost airlines, many middle-class travellers are taking inexpensive holidays, a trend that has helped the Asia Pacific and Middle East emerge as the fastest-growing regions for duty-free retail marketing, says Technavio analyst Vijay Sarathi.

    He says China, India, Indonesia, South Korea and Sri Lanka were among some of the most-desired inexpensive destinations in 2014.

    “During the same period, it is estimated that international tourist inflow in APAC increased to almost 263 million travellers, and it has largely helped the market grow until 2019.”

    Just released in London, Technavio’s report, Global Duty-Free Retailing Market 2015-2019, provides an in-depth analysis of market growth in terms of revenue and emerging market trends.

    By products, the global duty-free retailing market for 2014 comprised fashion accessories and hard luxury (32.1 per cent), perfume and cosmetics (29.21 per cent), wines and spirits (16.02 per cent), tobacco (12.43 cent), and confectionery and fine food (10.25 per cent), says the report.
    It says the fashion, accessories and hard luxury segment was valued at close to $20.81 billion, with the most in-demand products including precious jewellery, briefcases, handbags and shoes. The more popular brands include Armani, Burberry, Fossil, Gucci and Michael Kors.
    Technavio researchers say Chinese travellers emerged as the largest consumers of luxury brands last year, contributing nearly 25 per cent of global revenue.
    The perfumes and cosmetics segment is one of the fastest-growing categories in the global duty-free retailing market. APAC and the Middle East are the key regions for this category, with some of the top-selling brands including Chanel, Christian Dior, Estee Lauder and Guerlain.

    With close to 21.5 per cent of revenue share in the category, L’Oreal created a division especially for duty-free stores in 2013, describing the division as “the sixth continent”. In 2014, L’Oréal launched theVichy and Kerastase brands in the duty-free retail segment in Asia, and also launched the Three-Minute Beauty program to engage with potential luxury product buyers at airports.
    The liquor category is expected to grow to $13.47 billion in 2019. In 2014, Diageo opened two Johnnie Walker Houses in duty-free shops in India and Taiwan.

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  • Tom Tailor Launches Its First Online-Shop in China on JD.com

    Tom Tailor Launches Its First Online-Shop in China on JD.com

    Tom Tailor has launched its first online shop in China on the e-commerce platform JD.com, China’s largest online direct sales company. The launch marks another important milestone inTom Tailor’s expansion in China, following the opening of the firstTom Tailor retail store in Shanghai in November 2015.

    TheTom Tailor online shop on JD Worldwide features products from across theTom Tailor Denim and Tom Tailor CONTEMPORARY ranges. Building on JD.com’s brand marketing, payment, logistics and after-sales support,Tom Tailor will ensure that the brand’s customers across China enjoy a world-class online shopping experience.”In order to expand our online presence with the umbrella brandTom Tailor in China, JD.com, as China’s largest e-tailer, is an excellent partner,” said Erika Kirsten,Tom Tailor’s Manager of Corporate Communications.

    “JD.com has a high-value user base. With 155 million active consumers across the country who appreciate its versatile product range and superior customer service, JD.com provides the optimal platform for launchingTom Tailor in the Chinese online market.”“We’re delighted to welcomeTom Tailor to JD.com, and look forward to supporting their growth in China,” said Josh Gartner, JD.com’s Senior Director of International Communications. “Apparel is one of the fastest growing categories on our platform because customers know that only JD.com can provide reliable and convenient access to the latest fashions from local and international brands with a 100% guarantee of product quality and authenticity.

    We are excited to expand our portfolio of brands to includeTom Tailor’s stylish designs and we’re confident that customers will respond very positively.”Tom Tailor is represented in China currently with a retail store and 14 shop-in-shops.

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  • Rakuten quits Thailand

    Rakuten quits Thailand

    Japanese eCommerce giant Rakuten is negotiating to sell its stake in Thailand’s largest eCommerce company Tarad.com to an undisclosed Thai company.

    Rakuten Tarad.com founder and MD Pawoot Pongvitayapanu has told the Bangkok Post the deal is expected to be sealed within a few days. Rakuten has a 67 per cent stake in Tarad.com since acquiring it in 2009 for US$35 million, and Pongvitayapanu holds the balance.
    Rakuten’s move follows a strategic overhaul of its business in Southeast Asia, Deal Street Asiareports. It had previously focused on business-to-business and business-to-consumer models, but now plans a shift to consumer-to-consumer (C2C) by launching a mobile app, Rakuma.
    Shopee, which already has a foothold in Thailand, is one of the main competitors for C2C apps in the region, along with Carousell.
    Tarad.com had an accumulated loss of 117 million baht ($3.2 million) in 2013, rising from losses of 35 million baht in 2010 and 5.6 million baht in 2009. Pongvitayapanu says business will continue business as usual as it prepares to implement a strategic shift following the new shareholding structure.
    Rakuten earlier announced it is shutting down its eCommerce marketplaces in Indonesia, Malaysia and Singapore from March 1, laying off about 150 employees. It plans to focus on eCommerce in Japan, where it is a market leader. It will also keep a presence in east Asia, Taiwan and the US.

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  • Jollibee Foods takes over processing unit

    Jollibee Foods takes over processing unit

    Asia’s largest fast food player -Philippines-based Jollibee Foods, is seeking to take full control of China’s Happy Bee Foods Processing.

    The Manila company will buy an extra 30 per cent stake for US$10.4 million.

    Jollibee, which now has a 70 per cent stake in Happy Bee, acquired a 40 per cent share of US-based restaurant brand Smashburger for $99 million last October. It is continuing to scour the region for acquisition targets, with as it pursues its goal of becoming one of the world’s top 10 fast-food brands.

    Jollibee VP Valerie Amante has told the stock exchange its wholly-owned subsidiary Jollibee Worldwide (JWPL) entered into an agreement with Hua Xia Harvest Holdings to acquire its 30 per cent equity shareholding in Happy Bee, which is their joint venture entity.
    Hua Xia will be selling its 3,518,018 shares in Happy Bee at $2.96 a share. Jollibee will acquire the remaining 30 per cent of Happy Bee for about $10.4 million in the form of assets related to the production of food products intended for institutions outside of Jollibee brands in China.
    It is expected the deal, which does not include any cash outlay, will be closed this year.
    “The objectives of the acquisition – essentially an equity share and asset swap – are for Jollibee to concentrate on supporting the growth of its Yonghe King business, and on further improving its food quality and increasing assurance on food safety,” says Amante.

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  • VIPshop revenue grows 65 per cent

    VIPshop revenue grows 65 per cent

    Bolstered by more customers and orders, Chinese online discount retailer VIPshop Holdings (VIPS) has seen its net revenue grow by 65 per cent to RMB13.9 billion ($2.15 billion) in the latest quarter to December 31.

    During the period, its number of active customers rose to 19.8 million (a 58 per cent year-over-year increase) and total order grew 67 per cent to 64.9 million. This boosted gross profit by 60 per cent to RMB3.35 billion.

    For the year, total net revenue rose 74 per cent to RMB40.2 billion.

    “We topped RMB40 billion in annual sales and attracted nearly 37 million active customers as at the end of the year,” said chairman and CEO Eric Shen.

    “We also continued to enhance the user experience by optimising our platform for mobile interaction and purchasing, as well as expanding our product categories.”

    Founded in August 2008, the company offers quality and popular branded products online throughout China at significant discounts.

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  • Macau retail sales weaken

    Macau retail sales weaken

    Sales of watches and jewellery, which comprise a major segment of Macau’s retail business, fell 10.4 per cent last year, fuelling the territory’s first annual retail sales decline since 2000.

    Department-store goods and leather products were also hit, according to the latest Macau retail sales data from the Statistics and Census Service.

    Overall, retail sales volume was down 7.9 per cent for the year, with their value reaching nearly MOP60.9 billion (US$7611 million), says the survey. However, the drop was in double digits for watches, clocks, jewellery, department-store goods, leather products and footwear. The watches, clocks and jewellery segment accounted for 22.2 per cent of all retail sales value – a drop of 25 per cent year-on-year to MOP13.53 billion.

    Department store goods, the second-largest retail segment, had sales fall 13.7 per cent year-on-year to MOP8.93 billion.

    Meanwhile, cosmetics and sanitary articles as well as communication equipment had double-digit increases in sales for the year, reaching MOP2.36 billion and MOP1.68 billion respectively.

    Nearly half of the retailers covered in the survey anticipate a further drop in sales for the first quarter of this year compared with the same period last year, while nearly 40 per cent expect the sales volume to be stable.

    Retail sales for the fourth quarter of last year fell 10.5 per cent to MOP15.59 billion, with sales volume dropping 7.7 per cent. There were significant decreases in footwear (down 24.5 per cent), watches, clocks and jewellery (down 16 per cent), leather goods (down 11.3 per cent) and department store sales (down10 per cent).

  • Currency, tourism hits Bossini profit

    Currency, tourism hits Bossini profit

    A strong Hong Kong dollar and fewer tourists to Hong Kong and Macau hit profits for Hong Kong-listed fashion group Bossini International Holdings for the six months to December 31.

    Revenue dipped 13 per cent to HK$1146 million (US$147 million) from $1319 million for the same period in 2014. The gross profit was $543 million ($665 million in 2014), with the Bossini profit attributable to owners sliding from $87 million to just $14 million.

    However, the group says its financial position is still healthy despite an unseasonably warm winter in several core markets and more fierce competition within the apparel retail industry.

    In Hong Kong and Macau, same-store sales declined by 14 per cent, opposed to a 5 per cent growth for the 2014 period. Same-store sales in mainland China dropped by 8 per cent (as against 2 per cent growth), while Taiwan and Singapore same-store sales declined 14 per cent (2014: 8 per cent growth) and 1 per cent (2014: flat) respectively. Overall, same-store sales for the group fell by 12 per cent, following 4 per cent growth for the same period in 2014.

    At reporting date, the group had outlets in 33 countries and regions – 267 (down 10 on June 30, 2015) directly managed stores and 678 (681) franchised stores, giving a total store count of 945 (938).

    Its export franchising business continued to expand with 15 new franchised stores, taking the total to 615 stores across 29 countries. The group also continued launching its licensing programs, a major strategy, including a Star Wars collection and a further collaboration with the Ocean Park Halloween Bash.

    CEO and executive director Edmund Mak says the group expects the demand for value-for-money apparel to grow as economies slow globally.

    “To cope with this, we intend to offer more items that are easy for mix-and-matching, as well as products with better functions under a more competitive pricing strategy over the coming years.

    “The group will also continue to implement further cost-control measures and focus on expanding operations further afield of Hong Kong and Macau to achieve a more balanced portfolio.

    “We will also continue to devote energy to expanding our apparel lines for kids, which has consistently been our competitive edge and would also perfectly complement the recently announced end to the one-child policy in mainland China. Furthermore, we will launch Bossini eyewear in mainland China through franchise arrangements.

    “Going forward, the Group will continue to create appealing, competitive and quality everyday wear that drives sustainable growth, profitability and customer satisfaction. With a firm focus on our “be happy” core brand value, we will continue to strengthen our competitive edge and endeavour to enhance the value that we offer to our shareholders.”

  • Hooters Thailand doubles presence

    Hooters Thailand doubles presence

    Hooters Thailand has doubled its network with two new locations: one more in Bangkok and the other in Pattaya – the group’s largest outlet.

    Hooters Pattaya and Hooters Nana join Hooters Bangkok and Hooters Phuket as part of a 30-location Southeast Asia development agreement between the American chain and Bangkok-based international franchisee Destination Resorts.

    In the heart of Pattaya, about an hour from Bangkok’s Suvarnabhumi Airport, Hooters Pattaya has a ‘Wild West theme’. Covering 3300 sqm, it has two bars, 50 high-definition televisions, live music, pool tables, a mechanical bull named Ricardo and two patios.

    “Opening the largest international Hooters location in the heart of bustling Pattaya signifies our commitment to continued expansion in Asia,” says Hooters of America senior VP of global development Mark Whittle.

    Meanwhile, the 630 sqm Nana outlet in the heart of the Sukhumvit district seats 271 customers. Along with, 21 high-definition flat screens, DJs and pool tables, it has a mechanical bull named Turbo.

    Based in Atlanta, Hooters America owns and franchises more than 430 Hooters outlets in 28 countries. The privately held corporation owns 160 units. Its first establishment, in Clearwater, Florida, opened in 1983. Hooters’ website says the six founders were “quickly detained for impersonating restaurateurs, but fortunately for America they were soon allowed to go about their business”.

    Hooters’ casual beach-themed establishments feature music, sports on large flat screens, and a menu that features chicken wings, seafood, sandwiches, burgers and salads.

    “Destination Resorts has proven success with many restaurants in Thailand, and we’re continuing to bolster our presence with the largest international Hooters and a new location in Bangkok,” says CEO Gary Murray.

    Destination Resorts properties include DoubleTree Resort by Hilton Phuket – Surin Beach, DusitD2 Phuket Resort, Sri Racha International Golf at Sri Racha Hills, Hard Rock Cafe Phuket at Patong Beach, Novotel Phuket Karon Beach Resort & Spa, Novotel Hua Hin Cha Am Beach Resort & Spa, Swissotel Resort Phuket and Four Points by Sheraton Bangkok Sukhumvit 15.

  • Sephora Malaysia goes online

    Sephora Malaysia goes online

    Cosmetics company Sephora has launched a one-stop online shop in Malaysia following its acquisition of independent beauty eTailer Luxola.

    Luxola founder and CEO Alexis Horowitz-Burdick says the move allows Sephora Malaysia to offer an even larger assortment of beauty products for local customers.
    Sephora Asia president Anne-Veronique Bruel says that investing in Luxola offers a great opportunity to penetrate the online beauty market and accelerate the company’s growth in Malaysia and Southeast Asia.
    As well as a wider brand selection, including products for men, the new online shop will offer advice on beauty trends. It is also offering free delivery for orders worth RM80 or more, and there is a cash-on-delivery option for selected areas in Kuala Lumpur.

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  • A parade of pandas aims to raise awareness in Thailand

    A parade of pandas aims to raise awareness in Thailand

    A parade of 1,600 papier-mache pandas will be touring Bangkok this month as part of a worldwide campaign for the conservation of the endangered species.

    Campaigning in a country that has no wild pandas at all may sound odd, but the message from World Wide Fund for Nature Thailand goes beyond just those cuddly creatures. Thailand is home to a vast population of wild animals, including Asian elephants and Bengal tigers. The panda campaign intends to raise awareness for the conservation of these species, too. At the end of the exhibition, all the pandas will be offered for “adoption” for 600 baht ($16.8) and the proceeds donated to WWF Thailand.

    The pandas, created with recycled materials by French artist Paulo Grangeon, represent the 1,600 or so that were left in the wild when the campaign was first launched in France in 2008. Since then, the art project has traveled to around 100 locations around the world and the number of wild pandas has increased to 1,864, according to the WWF.

    In the Thailand tour, the pandas will appear, flash-mob style, at 10 landmarks in Bangkok and the ancient city of Ayutthaya. They will be on exhibit for just three hours at each spot sometime between March 3 and 16.

    After that, the pandas will be on exhibition through April 10 at Central Embassy, an upscale shopping mall in Bangkok that belongs to retail giant Central Group.

    It is hoped that the pandas will also draw visitors to the mall, which opened just before the military staged a coup in May 2014. The country’s economy and consumer confidence have been sluggish since.

    “Pandas are cute, and the campaign will attract everyone from young children to families and tourists,” Barom Bhicharnchitr, managing director of the mall, said.

  • Lego to open largest retail store in Shanghai

    Lego to open largest retail store in Shanghai

    Danish toy giant Lego A/S will open its largest retail store in the world near the Shanghai Disney Resort, the company said on Tuesday.

    The 1,000-square-meter store will be located on the main shopping street outside Disneyland, and will be operated by Lego.

    The resort, the first Disney theme park on the Chinese mainland, is scheduled to open in mid-June.

    “It will be a testament to our confidence in the China market,” said Jacob Kragh, general manager of Lego China.

    Lego to open largest retail store in Shanghai

    Kragh was speaking during a conference call following the release of Lego’s annual report, which showed revenue surged 25 percent to 35.8 billion kroner ($5.2 billion) last year.

    The company did not share the size of individual markets, but China has enjoyed what Lego called a “highly satisfactory” 34 percent growth year-on-year in 2015.

    Meanwhile, CEO Joergen Vig Knudstorp told China Daily that he believes there will be opportunities for Lego to grow as China transforms into a consumption-driven economy.

    While all of the 140 countries where Lego products are sold have posted double-digit growth in 2015, China has been one of the fastest-growing markets.

    Knudstorp expects that China will join the United States and Germany as the top three largest markets for Lego soon.

    Consulting firm Euromonitor International has forecast that by 2017, the Chinese toy market will be worth 100 billion yuan ($15.36 billion) and the Asia-pacific region will outnumber North America in sales as the world’s largest traditional toy market.

    While domestic brands still dominate the market, experts said that Chinese parents are likely to spend more on foreign toys in the coming years.

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  • KerjaDulu, ‘Indonesia’s LinkedIn’ raises money from MNC Group

    KerjaDulu, ‘Indonesia’s LinkedIn’ raises money from MNC Group

    KerjaDulu, an Indonesian social recruitment portal for job seekers and employers, today announced a strategic investment from local media conglomerate MNC Group. The startup said its post-investment valuation is at $5 million, but did not disclose other terms of the deal. Following the investment, MNC plans to intensify its own use of the portal for recruitment purposes and use its media channels to help market KerjaDulu.

    “MNC itself has more than 40,000 employees and is very active with recruitment. We can utilize KerjaDulu’s innovative social recruitment platform as our priority to hire talented people,” David Audy, director of MNC Media Group, said in a statement. David will join KerjaDulu’s board of commissioners as part of the investment.

    Launched in January 2014, KerjaDulu now consists only of about ten people, CEO and co-founder Chris Liu says.
    Some of the site’s features make it resemble LinkedIn. People set up a profile page and connect with professional contacts. But unlike LinkedIn, which prioritizes a person’s CV, member pages on KerjaDulu focus on their online activities.
    Members can follow company profiles and get an alert when there are new job openings. Chris says the aim is to combine the benefits of a job portal with that of a social network.

    The site now has “somewhere in between 500,000 and 1,000,000 registered users,” according to Chris.
    So far, Chris says, 388 companies have completed the site’s sign-up procedure, where they are put through a verification process.
    KerjaDulu is free to use for companies and job seekers, explains Chris. Monetization will come at a later point, and the team is still discussing the possibilities.

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  • Sogo switching its promotion plans after predicting a bumpy year ahead

    Sogo switching its promotion plans after predicting a bumpy year ahead

    Department store Sogo expects a gloomy year ahead due to a strong Hong Kong dollar and weak mainland tourists numbers. Its iconic Causeway Bay outlet recorded a 4.5 per cent year-on-year drop in sales, according to figures released yesterday.

    To survive in the increasingly tough local economy, the shop’s operator Lifestyle International is considering extending its twice-yearly sale weeks, which traditionally see customers cramming into the stores to hunt for bargains.

    “2015 was not too bad, but 2016 will be very challenging,” chief financial officer Terry Poon Fuk-chuen told reporters at the company’s annual results meeting yesterday.

    He pointed out that the Hong Kong dollar is strong, since it is pegged to the rising greenback, and it is having a dire effect on the already battered retail sector, which has been suffering from a shortage of mainland shoppers.

    The average daily customer traffic in the Causeway Bay branch dropped 2.4 per cent to 81,700 people last year and average sales per ticket shrank 3.1 per cent to HK$850 from the previous year.

    Chief executive Thomas Lau Luen-hung expects a flat year ahead, after sales at the island outlet experienced a double-digit decline over the past two months, compared with the same period last year.

    “I am not sure when the retail market will bottom out, but the chances are slim for a short-term rebound,” said Lau.

    The total number of visitors to Hong Kong declined 2.5 per cent last year – the first drop since 2004 – and mainland tourist numbers dipped 3.0 per cent.

    However, Lau is confident the long-term outlook of Hong Kong’s retail market is positive, as he believes the city is still an attractive place for mainland tourists, thanks to the expanding middle class and ongoing economic reforms north of the border.

    Despite more discounts being offered to customers in a period of weak consumer sentiment, Sogo has been luring in younger customers in a shift away from the previous focus on tourist promotions.

    Lau said shoppers have become younger and they prefer individuality to brand names when choosing what to buy.

    To adapt to this trend, more emerging international brands have been added to the first and second floors at the Causeway Bay shop over the past year, Lau said.

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  • SM Investments to consolidate its retail assets under one entity

    SM Investments to consolidate its retail assets under one entity

    February 29, 2016:

    SM Investments Corp (SM), the holding company of Philippine-based conglomerate SM Group of Companies, is merging its retail arm SM Retail Inc with related retail firms earning revenues up to $1 billion.

    SM earlier disclosed that its board of directors approved the merger of SM Retail with companies operating leading local retail chains such as Ace Hardware, SM Appliance Center, Homeworld, Our Home, Toy Kingdom, Watsons, Kultura, Baby Company, Sports Station and several other specialty stores. Together they operate 1,374 outlets and in 2015 delivered total revenues of P53 billion.

    SM is expected to own 77.3 per cent of the enlarged SM Retail.

    The merger will complement the existing retail portfolio of SM Retail which includes 53 SM department stores, 44 hypermarkets and 213 supermarkets as well as majority stakes in the local operations of Alfamart, Forever21, Crate & Barrel and other specialty and apparel retailers in addition to a minority stake in Uniqlo.

    The combined entity will have 1,927 outlets and 2.4 million sq m of gross floor area across a diverse portfolio of food, household appliances, DIY, furniture, apparel, footwear, pharmaceuticals/cosmetics and specialty retailing stores. The portfolio will serve a wide range of Filipino consumer needs in both staple and discretionary goods categories and will continue to leverage extensive synergies across the SM group.

    SM president Harley Sy said, the move is similar to the consolidation the company undertook in 2013 to create its large-scale, mixed-use property business.

    “The merger adds greater diversity and a more extensive footprint to SM Retail’s portfolio and is consistent with our goal of simplifying our corporate structure,” Sy said. “As a result, SM Retail will be even better positioned to address the growing needs of Filipino consumers and we expect the merger to be accretive to SM Retail earnings in future years.”

    SM’s net income increased 13 per cent in 2015, while consolidated net income stood at P28.4 billion, posting the same level in 2014. Consolidated revenues grew 7 per cent to P295.9 billion for the period.

    “Our strong underlying earnings growth in 2015 was due to favorable domestic market conditions and improved efficiencies which helped us widen our margins particularly in retail and property,” Sy noted.

    SM’s underlying earnings increase was driven by a 17 per cent growth in retail earnings, 14 per cent growth in property recurring net income and 10 per cent growth in bank net income. For 2015, banks accounted for 40 per cent of SM’s consolidated earnings, property 38 per cent and retail 22 per cent.

    SM’s last trading price decreased 2.96 per cent or P25 to close at P820.