Retail News CRM

Author: Mei Ling Tan

  • Hermes achieves double-digit sales growth in fourth quarter

    Hermes achieves double-digit sales growth in fourth quarter

    Hermes has posted double-digit sales growth for the fourth quarter and the full fiscal year, which management described as a solid performance in an “uncertain” environment.

    The company’s revenue surged 18 percent to €4 billion (US$4.2 billion), both on a reported and constant currency basis, during the quarter ended December 31. This extended the 11.4 percent uplift in the third quarter.

    Sales in Asia excluding Japan were up 10 per cent despite the downturn in traffic in Greater China. In Japan, sales jumped 20 per cent driven by the loyalty of local clients.

    The Americas rose 21.4 percent, while Europe increased 16.9 percent.

    For the full year, revenue rose 13 percent (15 percent in constant currency) to €15 billion, and consolidated net profit increased 7 percent to €4.6 billion.

    “In 2024, in a more uncertain economic and geopolitical context, the solid performance of the results attests to the strength of the Hermes model and the agility of the house’s teams,” said executive chairman Axel Dumas.

    “While preserving the group’s major balances and its responsibility as an employer, the house is staying the course, attached more than ever to its fundamental values of quality, creativity and savoir-faire,” he added.

    The company expects to record continued revenue growth in the medium-term despite the economic, geopolitical and monetary uncertainties.

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  • Shein offers Chinese manufacturers incentive to move to Vietnam

    Shein offers Chinese manufacturers incentive to move to Vietnam

    Shein is offering its Chinese manufacturers temporary incentives to move some of their production to Vietnam in response to rising US tariffs.

    The incentives include up to a 30 percent increase in procurement prices and larger order guarantees.

    The move is part of the fast-fashion retailer’s efforts to shift production outside of China after US President Donald Trump called a halt to Section 321 de minimis earlier this week.

    The de minimis previously allowed low-value packages from China to be shipped duty-free to the US. This means that prices of cheap Chinese goods are likely to increase in the country, affecting the operations of Shein and similar businesses like Temu and Amazon Haul.

    Shein hopes its expansion strategy in Vietnam will help mitigate the impact of Trump’s tariffs on its business model, which relies heavily on Chinese production.

    The company’s operations in Vietnam currently face some challenges after the local government required it to register its e-commerce services late last year.

    This came amid concerns about the impact of deep discounting by Chinese online platforms, as well as the potential sale of counterfeits.

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  • China replaces US as Vietnam’s largest shrimp export market

    China replaces US as Vietnam’s largest shrimp export market

    China imported US$834 million worth of Vietnamese shrimp last year, surpassing the U.S. as the largest buyer of the seafood.

    According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the figure marked an increase of 39% year over year.

    The decline in China’s supply due to unfavorable weather conditions is among the factors attributed to the import hike, VASEP said.

    Ecuador’s reduced shrimp shipment to China allowed Vietnamese exporters to snap up sale opportunities, which were also driven up by China’s many policies to promote general domestic consumption of goods, it added.

    In total Vietnam’s shrimp exports in 2024 reached $3.9 billion, up 14% from 2023.

    It was the biggest category in Vietnam’s seafood exports, which reached $10 billion.

    Pangasius contributed $2 billion. Vietnam’s shrimp exports to China seem to remain strong this year. In the first two weeks of January exports jumped 191% to $51 million.

    China was also the largest buyer of Vietnamese lobster last year, accounting for about 99% of total exports volume.

    VASEP advises exporters to prioritize lobster, salmon, and king crab this year as consumers have shown steady demand for them.

  • Spotify to introduce in 2025 the Hi-Fi service

    Spotify to introduce in 2025 the Hi-Fi service

    Just two weeks short of exactly eight (!) years ago, the news broke out that Spotify was about to introduce its Hi-Fi service that offers higher-quality music for an additional fee. Needless to say, none of that happened back in 2017; now, in 2025, it’s once again “Spotify Hi-Fi time”! Let’s hope it’s for real this time.

    The latest bit of info comes straight out of Bloomberg and their report reads that Spotify is preparing to introduce a premium tier called Music Pro, which will offer high-quality audio, but that’s not all. There could be AI-powered remixing tools and exclusive access to concert tickets as well.

    People in Reddit are not exactly feeling like they’ve won the lottery with that last perk, a quick check of the
    r/truespotify Subreddit shows:

    So, the alleged Music Pro service is expected to cost around $5.99 per month on top of existing subscriptions, though final pricing and rollout details are still being determined. The company is in discussions with major music labels to secure rights and is also exploring ways to integrate concert ticket sales, such as presale access or premium seating options.

    While Spotify has yet to make an official announcement, the service is expected to launch later this year. Just don’t make us wait another eight years, OK?

    Right now, Spotify is on the quest to diversify its offerings and generate more revenue from dedicated music fans.

    After years of keeping its pricing relatively stable across major markets, the company now sees an opportunity to introduce new plans tailored to different listener segments. This move aligns with rival trends, as record labels push streaming services to introduce higher-priced tiers to compensate for slowing growth in established markets.

    While Spotify recently raised subscription prices and expanded into audiobooks, Music Pro is designed to cater specifically to superfans willing to pay more for enhanced music experiences.

    Spotify has been working on this premium tier for some time, testing various features and negotiating with labels to secure necessary permissions. Competitors like Apple Music, Amazon Music Unlimited, and Tidal already offer high-fidelity audio, while SoundCloud provides remixing capabilities.

    However, with 675 million users and over 250 million paying subscribers, Spotify remains a major player in the audio streaming industry.

    The company plans to roll out Music Pro gradually, introducing new features over time. While not all users may be interested in the higher-cost service, Spotify believes it will attract millions of passionate music fans who regularly invest in concerts, merchandise, and fan experiences.

  • China Telecom Launches Asia Direct Cable Capacity Ahead of Schedule

    China Telecom Launches Asia Direct Cable Capacity Ahead of Schedule

    This milestone was achieved two months earlier than planned, following the completion of the ADC wet segment last November. In the past eight years, no new submarine cables have been operationalized in the Asia Pacific. This has led to a shortage of resources and created challenges in the market.

    The launch of the ADC’s capacity has been eagerly anticipated by the industry. China Telecom Global Limited, acting as the Co-chair of the ADC consortium, has worked closely with all consortium members and suppliers to overcome unexpected challenges and bring the ADC’s capacity into service ahead of schedule. This has helped to ease the strain on submarine cable resources.

    The availability of capacity will support the growth of artificial intelligence (AI), cloud computing, and big data, as well as facilitate digital transformation across various industries. Looking forward, China Telecom plans to expand its presence into international markets and enhance its global network resources to further contribute to the advancement of the global digital economy.

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  • Turkish Cargo makes eBookings more efficient and flexible for customers

    Turkish Cargo makes eBookings more efficient and flexible for customers

    Boasting the world’s widest international flight network, Turkish Cargo continues to provide innovative and flexible solutions to the air cargo industry through digital transformation. Through a direct data connection with CargoWise, Turkish Cargo offers shippers on the platform real-time rates, capacity availability, and e-Reservation services within the leading logistics operating system used by the world’s largest freight forwarders and 3PLs.

    The eReservation integration between CargoWise and Turkish Cargo’s management system, COMIS, enables real-time access to air cargo rates, flight availability, and booking confirmations. Shippers can easily choose the suitable flights and make bookings with Turkish Cargo, all without leaving the CargoWise platform. The API connection enhances operational efficiency by eliminating errors due to manual data entry. This approach makes processes more transparent and helps reduce costs.

    Commenting on the collaboration, Turkish Airlines Senior Vice President of Cargo Marketing Selçuk Gençaslan, said: “As Turkish Cargo, we transport approximately 2 million tons of cargo to over 360 destinations within our flight network every year. Our wide flight network and high capacity allow us to be globally accessible while offering competitively cost-effective, innovative solutions. Consequently, we focus on offering digital solutions to our customers by swiftly adapting to the evolving dynamics of the industry and thus, we are pleased to advance our mission of delivering the best service to our customers through this collaboration with Cargo Wise.”

    Jorre Cobelens, Vice President – Logistics Data and Connectivity, WiseTech Global, said: “By establishing direct data connectivity with Turkish Cargo we enable our CargoWise customers to efficiently process tens of thousands of unique shipments on the world’s largest air cargo network from within CargoWise. This increases productivity for the entire industry during and after the eBooking process, avoids double data entry, reduces human errors, and eliminates unnecessary emails. The API integration provides Turkish Cargo’s customers with real-time communication directly within CargoWise, which also includes the ability to modify a booking until final execution of the Master Air Waybill. With this partnership, the transparent data sharing enables Turkish Cargo to optimize their planning and capacity management.”

    Turkish Cargo continues to provide its business partners with more flexible, efficient, and reliable solutions by accelerating digital transformation projects in the logistics industry.

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  • Vietjet hikes Singapore-HCMC flight frequency

    Vietjet hikes Singapore-HCMC flight frequency

    Vietjet is set to boost its number of flights between Singapore and HCMC starting March 30.

    There will be three flights a week, up from the current two. There are now 35 flights between the two cities per week.

    The announcement comes with a 50% off sale on eco-class tickets for all Vietjet routes, including those to Hanoi and Da Nang (currently served by one daily flight each).

    Last year Vietjet added 10 aircraft to its fleet, bringing the total to 115. It operated on 170 routes.

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  • Chilean cherry prices plunge to less than $6 per kilogram

    Chilean cherry prices plunge to less than $6 per kilogram

    Cherries imported from Chile are at their lowest prices in years, with small-sized fruits selling for VND149,000 (US$5.9) per kilogram at markets and online retailers.

    Bigger ones cost VND180,000-220,000 per kilogram. These prices are 20-25% lower than a year ago and down from VND350,000 last month.

    Lan, a vendor at Ba Chieu Market in HCMC’s Binh Thanh District, said she has never seen Chilean cherries as cheap as this.

    Nguyen Van Thanh, a fruit importer in HCMC, said China, the main market for Chilean cherries, recently tightened quality regulations. As a result, exports to the market have been reduced, creating a supply overhang, causing exporters to offload the fruits to other markets, including Vietnam, at competitive prices.

    Saltoro, a ship that was delivering 1,300 containers of Chilean cherries to China, encountered a technical issue near Micronesia on Jan. 13, which delayed its journey until after the Lunar New Year.

    Demand for the fruit in China usually peaks during the holidays. This incident also contributed to the decline in prices.

    This year Chile’s cherry production was 60% higher than in 2024. According to customs data, Vietnamese im

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  • Meta to Bring World’s Longest Undersea Cable to India

    Meta to Bring World’s Longest Undersea Cable to India

    The announcement, made in accordance with the recent U.S.-India joint leaders’ statement, highlights Meta’s focus on India’s expanding digital ecosystem. The undersea network will play a crucial role in global internet connectivity, linking countries and supporting local telecom operators in delivering services.

    “Meta is investing in India—one of its largest markets—bringing the world’s longest, highest capacity, and most technologically advanced subsea cable project to connect India, the U.S., and other locations,” a Meta spokesperson said.

    This investment comes amid growing calls from telecom operators for major tech firms, including Meta, to contribute to network infrastructure development and alleviate data traffic congestion.

    According to Meta, Project Waterworth will utilize advanced routing techniques and innovative cable burial strategies to safeguard the cable system against damage, particularly in high-risk coastal regions. The cable will reach depths of up to 7,000 meters in deep-sea areas.

    A Meta spokesperson said the investment reflects the company’s commitment to economic growth, resilient infrastructure, and digital inclusion, driven by India’s increasing demand for digital services.

    The U.S.-India joint statement, released following Prime Minister Shri Narendra Modi’s visit to the U.S., also emphasized India’s plans to invest in undersea cable maintenance and financing in the Indian Ocean using trusted vendors.

    “This project will enable greater economic cooperation, facilitate digital inclusion, and open opportunities for technological development in these regions,” Meta noted. “In India, where we’ve already seen significant growth and investment, Waterworth will help accelerate progress and support the country’s digital economy ambitions.”

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  • Vietnam electricity imports from China, Laos set to soar by 2030

    Vietnam electricity imports from China, Laos set to soar by 2030

    The Ministry of Industry and Trade plans to increase electricity imports from China and Laos by 1.6 to five times from between now and 2030.

    Vietnam’s electricity demand is set to rise by 12-14% annually as the government targets an ambitious double-digit growth rate annually to achieve high-income status for the country by 2045.

    This means by 2030 Vietnam’s power capacity would need to reach 210,000 megawatts, up 35% from the current nationwide power plan.

    Imports will therefore play an important role in meeting electricity demand.

    By 2030 imports might account for 5% of total supply as against 4% last year, according to the ministry.

    It wants to import up to 3,700 MW in capacity from China by 2030, a five-fold increase from now.

    But the two sides have made no agreement for this yet. “The governments need to negotiate and sign deals soon,” the ministry said.

    It also wants to buy 6,800 MW from Laos by 2030, 1.6 times the current import.

  • Alibaba Cloud Expands Thai Presence with New Data Center

    Alibaba Cloud Expands Thai Presence with New Data Center

    Sean Yuan, Vice President of International Business and General Manager of Thailand, Indonesia, Japan, the Philippines, and the South Pacific Region at Alibaba Cloud Intelligence, stated, “Our latest data center strengthens our commitment to providing reliable, secure, and high-performance cloud services tailored to the needs of local businesses. With enhanced local infrastructure, we aim to empower enterprises to leverage the full potential of cloud technology, especially in generative AI applications.”

    With the addition of this new data center, Alibaba Cloud now operates 86 availability zones across 28 regions globally, solidifying its position as a leading cloud service provider in Southeast Asia. The first data center in Thailand was launched in 2022. Alibaba Cloud has over 140 security and compliance accreditations worldwide, ensuring top-tier protection and resilience for its cloud services. With two data centers in Thailand, Alibaba Cloud can provide scalable, elastic, and highly available cloud computing products with enhanced disaster recovery capabilities, all while adhering to strict security and regulatory standards.

    Alibaba Cloud is expanding its range of services to support businesses in Thailand, including elastic computing, storage, database, security, network products, data analytics, and artificial intelligence (AI) services. These services are designed to address specific challenges faced by different industries. By leveraging AnalyticDB’s cloud-native vector engine, businesses in Thailand, especially in the fintech and retail sectors, can create solutions that enhance customer interactions through customized large language model (LLM) applications. This allows companies to efficiently manage structured and unstructured data, develop chatbots, and provide personalized product recommendations, ultimately improving the customer experience.

    Alibaba Cloud’s Container Compute Service (ACS) simplifies workload deployment using Kubernetes, offering a serverless container environment that helps businesses scale their operations efficiently and focus on innovation while managing costs effectively. Alibaba Cloud offers industry-specific solutions tailored to digital-native clients in sectors such as fintech, retail, and public services. These solutions include the Elastic Desktop Service (EDS), eKYC solutions, a SuperApp equipped with development capabilities, and AI-driven sustainability solutions.

    Through partnerships with local companies like True Digital Group, Yell Group, and Codium, Alibaba Cloud has helped enhance operations and services using cloud computing products. These collaborations aim to improve efficiency, scalability, and innovation in various industries. Alibaba Cloud is actively working with local partners and universities in Thailand to support the digital transformation of businesses and foster digital talent. Initiatives include workshops, certified courses, and collaborations with universities to provide training in cloud computing and generative AI, as well as the launch of a global skills center at Chulalongkorn University to offer free training courses, boot camps, AI competitions, and leadership development programs. These efforts aim to enhance educational resources and promote a thriving digital landscape in Thailand.

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  • Chunghwa Telecom Expands Submarine Cable Investments

    Chunghwa Telecom Expands Submarine Cable Investments

    The company is increasing its investment in undersea cable infrastructure, allocating up to TWD 2 billion (USD 60.9 million) in 2025. The SJC2 system, spanning 10,500 kilometers, links 11 cable landing stations across Singapore, Thailand, Cambodia, Vietnam, Hong Kong, Taiwan, China, South Korea, and Japan.

    Meanwhile, the Apricot system, stretching 12,000 kilometers, will connect Taiwan to Japan, Guam, the Philippines, Indonesia, and Singapore. Chunghwa Telecom is part of the consortium overseeing the development of both cable projects.

    In addition to these deployments, the company is in discussing the possibility of other submarine cable projects with potential partners. Chunghwa Telecom Chairman, Alex Chien, indicated that the company is inclined to invest in undersea cables that connect Taiwan to Southeast Asia or Pacific nations. He also revealed that the company is considering launching more medium Earth orbit (MEO) and high Earth orbit (HEO) satellite internet services this year to bolster data security for the government and enterprises in case of undersea cable disruptions.

    Chunghwa Telecom is also addressing local connectivity issues. It has allocated funds to repair two damaged domestic submarine cables linking Taiwan and Lienchiang County (Matsu). These cables failed in late January due to natural wear and tear.

    Chunghwa Telecom’s increased investment in submarine cable systems comes amid heightened concerns over Taiwan’s digital infrastructure security due to ongoing geopolitical tensions with China.

    A quarter (25.2%) of the company’s 2025 capital expenditures (CapEx) will be directed toward non-mobile sectors, including submarine cable expansion,

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  • Samsung to invest in AI, semiconductors in Vietnam

    Samsung to invest in AI, semiconductors in Vietnam

    South Korean electronics giant Samsung is set to expand into new areas in Vietnam such as AI, semiconductors and digital transformation.

    CEO Choi Joo Ho told Prime Minister Pham Minh Chinh at a meeting in Hanoi on Wednesday that the largest foreign direct investor in Vietnam expects support from the government in making investments in these areas.

    Samsung has so far invested $23.2 billion in Vietnam and exported $54.4 billion worth of products last year.

    Chinh promised continued support for the company in investing in efficient and successful businesses in Vietnam.

    Samsung needs to continue to maintain its leading position by developing supporting industries, chips, semiconductors and promoting digital transformation in Vietnam, he added.

    The government targets 8% GDP growth this year and double-digit expansion in the coming years.

    To achieve the goals, it needs to improve the investment environment and foster strategic breakthroughs.

    Chinh urged Samsung to set up training centers at the National Innovation Center, increase its investment in Vietnam and support start-up and innovation activities.

    He also suggested that the company should have more Vietnamese executives and increase the number of local digital technology enterprises in its ecosystem.

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  • Gold prices plummet from peak

    Gold prices plummet from peak

    Vietnam gold bar price fell to VND90.2 million (US$3,524.13) per tael Wednesday morning, down 2.28% from the record high it reached the previous day.

    It reached an all-time high of VND92.3 million per tael on Tuesday morning before plunging to VND90.5 million that afternoon.

    Gold ring price dived to VND89.7 million per tael from Tuesday’s historic peak of VND91.7 million. A tael equals 37.5 grams or 1.2 ounces.

    Globally, gold prices retreated on Wednesday from an all-time high hit in the previous session, as Federal Reserve Chair Jerome Powell’s hawkish comment cemented views of slower rate cuts this year, while investors awaited a key U.S. inflation report.

    Spot gold fell 0.4% to $2,885.53 per ounce. Bullion climbed to a record high of $2,942.70 on Tuesday. U.S. gold futures eased 0.8% to $2,910.70.

    Powell said on Tuesday the economy is in a good place and the Fed isn’t rushing to cut interest rates further, but is prepared to do it if inflation drops or the job market weakens.

    Bullion is considered a hedge against inflation, but higher interest rates dampen the non-yielding asset’s appeal.

    “The bullish trend (in gold) remains intact given the tariff picture uncertainty and the resulting safe-haven flows, which could keep underpinning the precious metal,” said Tim Waterer, chief market analyst at KCM Trade.

  • Indosat Reports Strong Growth in 2024

    Indosat Reports Strong Growth in 2024

    Total revenue increased by 9.1% to IDR 55.9 trillion, driven by improvements in customer quality and contributions from all business lines. Cellular revenue grew by 7.5% due to increased revenue in the data and interconnection sector, while multimedia, data communication, and internet (MIDI) revenue rose by 23.4%, supported by increased revenue from IT services.

    EBITDA also grew by 10.2%, totaling IDR 26.4 trillion, demonstrating an EBITDA margin of 47.2% and Indosat’s efficiency in converting revenue into earnings. Profit for the period attributable to owners of the parent increased by 38.1%, totaling IDR 4.916 trillion, reinforcing the company’s financial health and ability to deliver returns to stakeholders.

    Vikram Sinha, President Director and CEO of Indosat, mentioned, “2024 was a challenging year. Despite this, we managed to secure a strong performance as a commitment to continue delivering value to our stakeholders. This strong financial and operational performance also underscores Indosat’s commitment to continuously drive the advancement in the telecommunications industry ecosystem in Indonesia.”

    Throughout 2024, data traffic increased by 12.2% year-over-year (YoY), reflecting the growing demand for Indosat’s services. The company expanded its network infrastructure by increasing the number of 4G BTS to 196,000 to enhance service quality for customers. This led to a 6.6% rise in mobile average revenue per user (ARPU), totaling nearly IDR 40,000 and showcasing the success of Indosat’s go-to-market strategy.

    In the final quarter of 2024, Indosat relaunched its postpaid service under the IM3 Platinum brand, integrating artificial intelligence (AI) to deliver a premium customer experience. The company is also embedding AI into its network operations through a partnership with Nokia, which aims to expand its 4G and 5G networks and provide smarter and more efficient connectivity.

    Indosat is also collaborating with UiPath to empower 100,000 Indonesians with enterprise automation skills by 2027, aligning with its mission to drive digital transformation and foster an AI-ready workforce in Indonesia.

    The company’s capital expenditure (CapEx) in 2024 totaled IDR 9.937 trillion. Indosat will focus on enhancing cellular networks to support the growing demand for AI-powered digital services.

    “By embedding AI across our operations and fostering collaborations rooted in the spirit of mutual cooperation, we are accelerating towards Indosat’s larger purpose of empowering Indonesia,” concluded Sinha.

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