Retail News CRM

Author: Mei Ling Tan

  • In South Korea, Ikea opens biggest store to lure tiny households

    In South Korea, Ikea opens biggest store to lure tiny households

    Iconic Swedish furniture retailer Ikea built its biggest store in the world to serve South Korea’s shrinking households, targeting millions of people living alone with Korea-only items like super-sized single beds and in-store kimchi rice.

    The store opened on Thursday in Gwangmyeong, less than an hour’s drive or 14 minutes by train from central Seoul, with a sales space nearly as big as the Louvre museum at 59,000 square metres. The previous record-holder at Ikea, known for its inexpensive, self-assembly products, was in Stockholm spanning 55,200 square metres.

    Stiff domestic competition and sluggish spending have made South Korea an unhappy hunting ground for global retail giants like Wal-Mart and Carrefour, who exited years ago. But Ikea’s design appeal to South Korea’s urban crowds, and few big local rivals, leave it well placed, retail experts say.

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  • Greater rental retail transparency in Singapore soon

    Greater rental retail transparency in Singapore soon

    Retailers and landlords in Singapore can look forward to greater retail rental transparency after the details of the Fair Tenancy Consideration Framework are unveiled, probably this month. The framework will comprise three components: data transparency, education and awareness, and a mediation process.

    The first component will make retail rent data transparent, likely pegged to street names, with a rough gauge of the size of the shop unit.

    “We tried to push for more rent details which give better transparency (down to per square foot rental),” said Kurt Wee, president of the Association of Small and Medium Enterprises (ASME). “But I think it’s not going to be easy to extract this data . . . If we ever want full transparency, we are talking about a new data bank. This means for every lease you sign, you have to fill up a set of obligatory information and file it with a certain data bank.”

  • Carl’s Jr. to re-enter Japan, aim for 150 burger bars nationwide

    Carl’s Jr. to re-enter Japan, aim for 150 burger bars nationwide

    US hamburger chain operator CKE Restaurants Holdings Inc. said on Friday it will open a Carl’s Jr. outlet in Tokyo next year before a nationwide rollout that will represent its second stab at the Japanese market since 1989.

    Its local partner will be Tokyo-based Mitsuuroko Group Holdings Co., whose main business is providing gas and power. Mitsuuroko said Friday it had set up Carl’s Jr. Japan Inc. to run the restaurants.

    CKE Restaurants said the first store will open in Tokyo next fall and that it aims to open 150 nationwide in the next 10 years.

  • Woolworths’ Christmas threat to suppliers

    Woolworths’ Christmas threat to suppliers

    Woolworths buyers have told suppliers their products could be pulled from shelves just days before Christmas if they refuse to fund the supermarket giant’s new Cheap Cheap advertising campaign.

    “I was asked for a contribution of almost $1 million, and when I refused to pay I was told a ‘range review’ was under way and I would be informed of the outcome early next week,” said the sales manager of one of Australia’s leading health product companies. “The implied threat is that some of my products will no longer be stocked if I don’t pay up.”

    Woolworths staff have also been accused of telling suppliers the payment requests had the “endorsement” of the Australian Consumer and Competition Commission – a claim that the consumer watchdog rejects.

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  • Lotte Mart opens 10th supermarket in Vietnam, to have 60 stores by 2020

    Lotte Mart opens 10th supermarket in Vietnam, to have 60 stores by 2020

    The South Korean retailer Lotte Mart on Thursday opened its 10th supermarket in Vietnam in Tan Binh District of HCM City, contributing to its expansion nationwide.

    Located at 20 Cong Hoa Street, Lotte Mart Tan Binh has investment capital of USD9 million and covers an area of over 8,500square metres.

    The supermarket operator, which came to Vietnam in 2008, plans to have 60 stores nationwide by 2020.

  • Vietnam’s largest mobile phone retail chain Mobile World’s profits up

    Vietnam’s largest mobile phone retail chain Mobile World’s profits up

    The Gioi Di Dong (Mobile World) Joint Stock Company, Vietnam’s largest mobile phone retail chain, has reached a post-tax profit of VND609 billion (USD29 million) after 11 months, 140 percent of the annual target, the company has announced.

    The revenue during this period was more than VND14 trillion (USD666 million), as much as 108 percent of the annual target.

    The company also announced that it will reach the target to open 350 outlets nationwide by the end of the month.

  • Emporium reopens USD91m makeover

    Emporium reopens USD91m makeover

    The Emporium shopping complex in Bangkok will fully open in March after a major renovation.

    Voralak Tulaphorn, senior vice-president for merchandising of The Mall Group, operator of the upscale shopping venue, said 95 percent of total space at the shopping centre had been reopened to customers since last Monday. Only the cinema zone remains closed.

    The company spent THB3 billion (USD91.3 million) to make over The Emporium over the past seven to eight months in anticipation of fiercer retail competition in the Pathumwan, Ratchaprasong and Sukhumvit areas next year.

  • HK Fashion Week to feature fashion talents, new trends

    HK Fashion Week to feature fashion talents, new trends

    The 21st HKTDC Hong Kong Fashion Week for Spring/Summer will feature more than 40 events, including fashion parades, seminars and forums and demo sessions that highlight new fashion talents and trends.

    The fashion parades will showcase established designers and brands, as well as new design talents and creative student works, while seminars and presentations are hosted by international trend forecasting agencies and local industry bodies.

    Ten house shows will be staged at the fair, and young designers are ready to show their creativity to international buyers.

    Fashionally Collection #3, will showcase 11 past winners and finalists of the Hong Kong Young Fashion Designers Contest, such as designs from Nelson Leung, the Overall Winner and Contemporary Day-Wear Group Winner this year.

    Four shows from the Chinese University of Hong Kong, Hong Kong Polytechnic University, Hong Kong Design Institute and Hong Kong Raffles School of Continuing Education will be staged to highlight collections of student designers.

    Moreover, international beauty brand NARS Cosmetics will unveil its nail collaboration with famed fashion designer Philip Lim – the 3.1 Philip Lim for NARS Nail Collection includes nine limited edition nail shades inspired by the “colours that exist in the shadows”.

    NARS will also collaborate with three local young designers – namely Elizabeth Lin, Mim Mak and Mountain Yam and launch its new Dual-Intensity Eye Shadow at Hong Kong Fashion Week.

    Buyers interested to learn more on technology advancement in the apparel industry should not miss the introduction of RFID solutions for production efficiency and energy-saving and the seminar on making use of accredited testing to tap into the global market.

    Always evolving, Hong Kong Fashion Week for Spring/Summer adds Activewear & Sportswear and Cashmere & Wool to its zones lineup. As its name implies, the former offers functional apparel to cater for dynamic market demand; while the latter gathers exhibitors with a wide range of cashmere and wool made outfits.

    Meanwhile, the small-order zone expects to feature 150 garment racks and showcases for buyers who require low volume supplies.

    The Hong Kong Fashion Week for Spring/Summer is expected to attract around 1,200 exhibitors from 18 countries and regions, with first time exhibitors from Madagascar, Morocco and Thailand.