Retail News CRM

Author: Mei Ling Tan

  • UBS Announces Latest Round of Personnel Decisions

    UBS Announces Latest Round of Personnel Decisions

    The bank has made further personnel decisions as it reshuffles staff following its takeover of Credit Suisse.

    UBS has made another round of personnel decisions, appointing Patrick Grob as head of Global Wealth Management Unified Global Markets in the process, according to an internal memo.

    The global markets team also reportedly includes Brent Johnson (head of execution services), Dushyant Chadha (head of derivatives & solutions), Natalie Horton (head of financing), Chris Purves (head of digital platforms), and David Innerdale (head of global markets risk & trading).

    In Asia Pacific, Thomas de Garidel and Tim Wannenmacher are co-heads of Global Markets APAC, and in Europe, Middle East, and Africa (EMEA) Paolo Croce gets the leadership role.

    Credit Suisse also made several new appointments. Olivier Charhon is named operating officer for risk and resource management at the UBS investment bank. Neil Hosie, formerly head of Global Equities at Credit Suisse, is appointed co-head of Global Markets Distribution.

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  • Charles & Keith opens first flagship store in South Korea

    Charles & Keith opens first flagship store in South Korea

    CHARLES & KEITH’s inaugural duplex flagship store in South Korea, situated in the vibrant shopping district of Gangnam, Seoul, is now open. Spanning an expansive area of over 330 sqm, the two-storey flagship store stands as the largest CHARLES & KEITH boutique in South Korea. Staying true to the brand’s signature minimalist aesthetic, the brand-new flagship store showcases a thoughtfully designed interior characterized by gradual curves and fluid lines. These design elements are seamlessly integrated with a clean and understated colour scheme, resulting in a space that emanates a modern and refined ambiance.

    The flagship store features striking sculptural artworks by South Korean artist Jeesun Park, making a bold statement throughout the space. These sculptures, while harmoniously complementing the spatial design, stand out with their unique shapes and artistic presence. Fragmented hemispheres, arcs, cut-out shapes, ellipses, and other unfinished forms intertwine to create new compositions.

    In addition to its remarkable features, the flagship store in South Korea is the first in the country to introduce Made for Me by CHARLES & KEITH, an exclusive in-house personalization service. This offering empowers customers to express their unique individuality by embroidering their names onto selected items. The embroidery also includes two exclusive icons inspired by Seoul: a magpie and a graphic artwork depicting the city’s vibrant essence. Going beyond the celebration of creativity and individuality, the Made for Me service adds an invaluable personal touch that brings deeper meaning to the act of gifting.

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  • Spotify targets Gen Z Filipino and Indonesian listeners with local artists in new brand film

    Spotify targets Gen Z Filipino and Indonesian listeners with local artists in new brand film

    Spotify aims to connect with their Gen Z Filipino and Indonesian listeners through their new “Music That Finds You” campaign that illustrates the streaming platform’s personalized music discovery services.

    The campaign, which stars Pinoy hip-hop artists Nik Makino and Flow G and Indonesian rock band NOAH, will span across film, television, OOH, and digital assets.

    “Gen Z are voracious consumers of Spotify’s library of audio content,” said Jan-Paul Jeffrey, SEA head of marketing, Spotify.

    “They play more than 578 billion minutes of music in Indonesia and the Philippines and are more engaged with digital audio than any other generation,” he continued.

    The brand film which features Nik Makino and Flow G for the Philippines begins with an individual struggling to study for her college entrance exams. When she presses play on the Discover Weekly personalized playlist, a light, reminiscent of a bat signal, shines from her bedroom window

    The hip hop duo then ziplines through the city from the party they were at to the protagonist’s house to perform for her as she resumes her studying while bopping along with them.

    The brand film brings the magic of Spotify to life and showcases the cultural influence Spotify has on Gen Z listeners that witness how niche homegrown artists are able to amass streams on Spotify, according to a statement by the brand.

    “As the world’s largest global music streaming service, Spotify has the unique ability to reach youths plugged into culture and provide them with an avenue to foster more meaningful connections with artists and podcasters they love,” added Jeffrey.

    Similarly, the advertisement for Indonesia begins with an individual playing their Discover Weekly playlist before starting their morning when members from NOAH parachute out of an airplane filled with other artists.

    As NOAH rocks out with the protagonist in his front yard, the advertisement emphasizes the playlist’s capabilities to provide listeners with personalized music that will make their day better.

    Along with Discover Weekly, Spotify has Daily Mixes and their Time Capsule which are both tailored specifically to each individual listener, while features such as BLEND offer a social experience for any two listeners with a shared playlist.

    As Spotify improves its services for their listeners, last month the streaming platform announced that it would be conducting another round of layoffs, just a few months after its previous wave of job cuts.

    This particular wave affects the podcast division, wherein approximately 2% of Spotify’s workforce in this division will be let go.

    According to Spotify in a statement, it is expanding its partnership efforts with leading podcasters from across the globe, with a tailored approach optimized for each show and creator which marks a fundamental pivot for Spotify in order to support the creator community better.

  • Uniqlo parent’s profit seen soaring to a Q3 record on China recovery

    Uniqlo parent’s profit seen soaring to a Q3 record on China recovery

    The Japanese operator of apparel retailer Uniqlo is expected by analysts to post a 25 percent jump in profit to a third-quarter record on Thursday (Jul 13), when the focus will be on whether its sales recovery in China is on track.

    Fast Retailing’s operating profit in the three months through May likely reached 102.4 billion yen (US$733.37 million), according to the average of forecasts from seven analysts surveyed by Refinitiv. That’s compared to 81.8 billion yen posted last year, a company record for the third quarter.

    The company, known for its fleece jackets and inexpensive basics, has 925 Uniqlo outlets in mainland China, more than in Japan and making it a bellwether for a retail market that was hammered by strict COVID-19 restrictions in recent years.

    Business in China started to turn around in January, resulting in sharp increases in sales and profit from the region in the second quarter, the company said in April.

    Fast Retailing’s shares have soared 30 percent so far this year, helping founder Tadashi Yanai cement his place as Japan’s richest person. The shares have outpaced a 23 percent advance in the benchmark Nikkei which has been one of the hottest equity markets worldwide.

    “The recovery in China has been weaker than expected, but Uniqlo is well positioned,” said Jamie Halse, who manages US$500 million in Japan strategies at Platinum Asset Management in Sydney but does not currently own Fast Retailing shares. “We have a positive view on the business, but are apprehensive of the elevated expectations represented in a premium valuation.”

    While China languished under lengthy pandemic curbs, Fast Retailing put more focus on its North American and European operations.

    Uniqlo had 61 locations in North America as of February, and is adding four stores in the US and two in Canada this summer as part of a plan to reach 200 by 2027.

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  • New Balance introduces new retail concept to Singapore

    New Balance introduces new retail concept to Singapore

    New Balance recently opened a concept store in Singapore, featuring a Volumental 3D foot scanner in the fitting area.

    Since partnering with Volumental in 2017, the retailer says that it has scanned the feet of more than one million shoppers worldwide.

    The scan, which takes less than five seconds, provides employees with detailed information about a customer’s feet, helping them find a shoe that’s sure to fit.

    Volumental claims that the solution helps brands and retailers to: reduce return rates by 18%; increase footwear sales by 20%; achieve email capture rates of 71%.

    Earlier this year, Volumental launched a new self-service version of its AI-powered foot scanners.

    Specifically designed for an in-store experience, customers can take their own foot measurements at the click of a button and receive their best-fitting footwear recommendations on their phones.

    Volumental said it expected to launch this globally starting with select stores in the sporting goods industry, outlet malls and brand warehouses in 2023. This followed a beta test with Under Armour.

    “Our new self-service scanners will bring the same technology that specialty footwear retailers have enjoyed to many more retail segments,” said Alper Aydemir, CEO, Volumental.

    “Having worked with footwear retailers across different store formats, service environments, and staffing models, we realized the need for a self-service enabled shopping experience that is both innovative and easy to use for shoppers.”

    “This solution takes the guesswork out of the whole fitting experience and helps shoppers make smarter and faster purchase decisions with better-fit outcomes.”

    “The personalized recommendations create a more engaging customer experience, allow retailers to manage inventory in a much smarter way, and help solve the huge returns issue facing the industry.”

    Volumental’s self-service scanners will be placed in dedicated co-branded spaces in-store.

    Touchscreens will provide the customer with instructions on use as well as nearly instant personalized size recommendations on their perfect fitting brands and styles.

    Volumental was highly commended at the 2022 RTIH Innovation Awards last month, after impressing our judging panel in the Omnichannel Retail Initiative of the Year category.

    Our 2022 winners and highly commended entries were revealed at a sold-out event in central London on Tuesday, 6th December.

    RTIH Editor, Scott Thompson, said: “Innovation and technology play a critical role in the success of the retail sector, so it is great to recognize standout examples through our awards.”

    “Thanks to all those who entered the 2022 event. We received a record number of submissions and many fantastic examples of the continued resilience and dynamism of the retail space during hugely challenging times.”

    “Congratulations to our 2022 retail technology hall of fame entrants.”

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  • Ocado launches first robotic warehouse in Asia with Aeon

    Ocado launches first robotic warehouse in Asia with Aeon

    Ocado, a British online supermarket and technology group, has launched its first robotic warehouse in Asia. The warehouse, which is located in Japan, is a joint venture with Aeon, a Japanese retailer. The warehouse will be used to fulfill orders for Aeon’s “Green Beans” brand.

    Ocado CEO Tim Steiner said that the launch of the warehouse is a significant milestone for the company. He said that the Asia-Pacific region is a “key growth market” for Ocado, and that the company plans to open more robotic warehouses in the region in the future.

    The launch of the warehouse comes at a time when Ocado is facing increasing competition from other online retailers, such as Amazon. However, Steiner said that he is confident that Ocado’s robotic technology will give the company a competitive advantage in the long term.

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  • Olive oil brand Moro launches Eco Bottle made from recycled material

    Olive oil brand Moro launches Eco Bottle made from recycled material

    Moro, Australia’s number one brand of olive oil*, has expanded its olive oil and vinegar ranges with the launch of four new products.
    The new flavours to market include:

    • Moro Intenso Extra Virgin Olive Oil;
    • Moro Sherry Vinegar;
    • Moro Unfiltered and Organic Apple Cider Vinegar with the ‘Mother’ and
    • Moro Gourmet Chilli Glaze with Balsamic Vinegar of Modena.

    Marketing and Innovations Manager at Moro, Nicolett Butchard, said these products were developed in response to the growing consumer trend towards inspired home cooking.

    “The ongoing trend towards home cooking and creating a meal experience, is leading consumers to increasingly want to discover new flavours and experiment with easy and new ways to add depth of flavour to meals,” Nicolett said.

    “As a category leader, Moro puts great importance on the early identification of cooking and flavour trends, a must when striving to provide accessible, quality and authentic flavours that appeal to consumers”.

    “We can’t wait to hear how consumers find the newest additions to their cooking,” Nicolett said.

    New innovations: 
    Moro Intenso is the most robust and peppery Extra Virgin Olive Oil in the Moro range and was developed in response to consumers’ growing appreciation for different flavours of extra virgin olive oil.

    Moro’s Sherry Vinegar is produced in the Jerez region of Spain and aged for six months in oak barrels . A deep and complex flavour which is ideal for simply enhancing salad dressings or marinades but versatile enough for use in stews, soups and sauces.

    Moro’s Organic Apple Cider Vinegar is unfiltered and retains ‘The Mother’ which is linked to health benefits such as improved digestion and cholesterol management. Made with the finest Italian apples, this versatile vinegar will add a hint of fruit flavour to dressings, marinades and sauces.

    Moro’s Gourmet Chilli Glaze is a deliciously thick consistency made with Balsamic Vinegar of Modena and Italian chillies. Brush over meats prior to cooking or drizzle over salads for an easy way to add some warmth and bite to dishes.

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  • Pirelli Launches P Zero Trofeo RS Tyres For Supercars, Hypercars

    Pirelli Launches P Zero Trofeo RS Tyres For Supercars, Hypercars

    Pirelli has expanded its range of P Zero tyre series with the new semi-slick Trofeo RS. Pirelli says that the tyres are the technical successor of the Trofeo R and unlike the latter are available to manufacturers for use as an OEM part. The Trofeo R were only offered as aftermarket alternatives. Pagani Automobili, the Italian hypercar manufacturer, has already chosen the P Zero Trofeo RS as the original equipment for their latest car, the Utopia.

    Pirelli says, the P Zero Trofeo RS delivers performance on dry surfaces and improved consistency over prolonged usage. The Trofeo RS maintains its performance for longer durations, providing both speed and safety throughout multiple track sessions. Furthermore, as a road-approved tire, Pirelli has prioritised safety even in wet conditions.

    The company says that the new Trofeo RS was developed using the company’s learning from its extensive involvement in motorsports. The tyre range also offers a degree of customisability with car manufacturers able to custom order tyres for their performance cars through an on-demand catalogue. This includes multi-compound tread which allows for personalised tire configurations by combining different tread compounds from the company’s catalogue. For the Pagani Utopia, a set of P Zero Trofeo RS tires was specifically engineered to enhance sporty driving performance compared to the original P Zero Corsa tires, without compromising the car’s balance or the driver’s experience.

    Another feature available is Virtual Geometry Development, enabling precise calibration of the tire’s response to the driver’s requirements through virtual modeling of countless footprint profiles and shapes. In the case of the Pagani Utopia, extensive 3D development was employed to optimise grip and control by fine-tuning the tire’s footprint.

    The new Pirelli P Zero Trofeo RS is already being used by car manufacturers as original equipment, and in the near future, it will become available in a wide range for the aftermarket segment. The Trofeo R range too will continue to be available for aftermarket fitment.

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  • Gasoline prices rise

    Gasoline prices rise

    Except for E5 RON 92, gasoline and diesel prices have risen by VND70-660 per liter starting 3 p.m. Tuesday.

    The price of the widely used RON95 went up 0.33% to VND21,490 (91 cents) per liter. Biofuel E5 RON92 decreased by VND60 (0.29%) to VND20,410.

    Diesel had a VND450 (2.48%) rise to VND18,610.

    Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and continued hopes for higher demand in the developing world in the second half of 2023.

    Supply cuts by top exporters Saudi Arabia and Russia set for August helped to lift the benchmark prices, which were also supported as the U.S. dollar fell to a two-month low.

  • Vietnam Airlines to auction three narrow-body aircraft

    Vietnam Airlines to auction three narrow-body aircraft

    Vietnam Airlines is set to auction three narrow-body aircraft Airbus A321CEO at a starting price of $5 million apiece in this quarter.

    The three jets were made in 2007 and are currently at Noi Bai International Airport and Tan Son Nhat International Airport.

    In 2020 the state-owned carrier sold five Airbus A321 aircraft for $7.4 million apiece.

    Selling jets was part of the airline’s plan to restructure its fleet and increase post-pandemic income.

    The airline now has a fleet of 94 jets, including 65 A321 jets with an average age of just over 9 years, according to aircraft data provider Planespotters.

    Vietnam Airlines served over 10 million passengers in the first half of this year, up 23.6% year-on-year.

    Its revenue rose by nearly half to over $1.91 billion, almost the same as in 2019.

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  • Bamboo Airways CEO resigns after two months

    Bamboo Airways CEO resigns after two months

    CEO of Bamboo Airways Nguyen Minh Hai has resigned less than two months after assuming the position.

    Following his resignation announced by the carrier on Tuesday, deputy chairman Nguyen Ngoc Trong will be the airline’s acting CEO.

    Hai was named Bamboo Airways’ CEO in late May, replacing Nguyen Manh Quan.

    Hai, 51, has a bachelor’s degree in tourism business management from Vietnam National Economics University and 25 years’ experience in the airline industry. He was deputy general director of Vietnam Airlines between April 2015 and January 2019.

    In a meeting last month, Hai informed the carrier’s shareholders the company would be restructuring under a new investor, the Him Lam Corporation. He said making Bamboo Airways profitable to satisfy investor demands was a top priority.

    And then also last month, Bamboo Airways accepted the resignation of four members: chairman Oshima Hideki, standing deputy chairman Nguyen Ngoc Trong, and two deputy chairmen Doan Huu Doan and Phan Dinh Tue.

    The new chairman of Bamboo Airways is Le Thai Sam, who now holds over 50% of the airlines’ shares. The company has said the changes in personnel are part of its restructuring.

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  • European firms worry about power shortages in Vietnam

    European firms worry about power shortages in Vietnam

    The European Chamber of Commerce in Vietnam (EuroCham) has called on the government to focus on long-term plans to mitigate power shortages, which it fears are cyclical.

    Power shortages were among the concerns raised by EuroCham in its second quarter Business Confidence Index report.

    A survey of its member companies found the recent power shortage significantly affected their business.

    While the situation has improved thanks to the heavy rains in recent weeks, 60% of the companies said the shortage had created challenges for them, with 10% saying they have been seriously affected.

    According to EuroCham, reliable power supply is a central requirement for the business sector and overall economic resilience.

    The Government should focus on making long-term plans since power shortages are likely to occur in cycles, EuroCham president Gabor Fluit said.

    Between late May to mid-June this year the northern region was crippled by regular blackouts as electricity demand shot up even as hydropower, one of the two main sources, decreased due to drought.

    European businesses also said Vietnam’s infrastructure is poorer than that of many neighboring countries, with 53% rating it inadequate.

    But the bright spot is that the Government is taking active measures to address this problem like accelerating key infrastructure projects, they said.

    The survey also found that business optimism has increased slightly and Vietnam continues to be considered an attractive destination for foreign investors.

    Some 48% of respondents expected their companies’ direct investment in the country to rise sharply in the next quarter.

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  • Vietnam spends over $480M on meat imports in first 5 months

    Vietnam spends over $480M on meat imports in first 5 months

    Vietnam imported more than 239,000 tonnes of meat and meat products worth $480 million in the first five months of this year.

    The number climbed by roughly 1.6% in terms of quantity but declined by 9.1% in terms of value, according to the General Department of Customs of Vietnam.

    In May, Vietnam imported 57,620 tonnes of meat, worth $108.8 million, up 9.5% in volume but down 10.2% in value year-on-year. This marked the fourth monthly growth in import volume of meat and meat products.

    During the period, the country imported from more than 36 markets, with the five largest suppliers being the U.S., India, Russia, Brazil, and Poland.

    In particular, meat imports from Russia have steadily soared after decreasing in 2022.

    The main types of imported meat and include poultry and offal, fresh chilled or frozen pork, and fresh chilled or frozen beef.

    Imports of chilled or frozen poultry, offal of pigs, buffaloes, and cows were on the uptrend, while pork and beef imports decreased year-on-year.

    In the first five months of 2023, Vietnam imported 29,610 tonnes of fresh chilled or frozen pork, worth $73.62 million, down 19.9% in volume and 5.7% in value.

  • Vietnam Airlines struggles to get flight slots in foreign airports

    Vietnam Airlines struggles to get flight slots in foreign airports

    Vietnam Airlines is unable to get the number flight slots it needs at airports in the U.K., India and China.

    After a period of absence due to Covid-19, the carrier has lost many flight slots in London, chairman Dang Ngoc Hoa said at a meeting with the Ministry of Transport officials Monday.

    India only provides 28 slots at its four big airports for international airlines since it seeks to protect domestic carriers, he said.

    Requests for more slots in Chinese airports too have been rejected, he said.

    The number of foreign passengers flying on Vietnamese carriers is only 60% of pre-pandemic levels, he said.

    Other challenges, such as fuel prices doubling at certain times from 2019 levels, have been slowing down Vietnam Airlines’ recovery efforts, he said.

    He sought the ministry’s assistance to get more slots in foreign airports.

    Minister of Transport Nguyen Van Thang at the meeting ordered aviation authorities to support the carrier.

    If required, the ministry would dispatch officials to other countries to negotiate slots, he added.

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  • Google is working to take Airplane Mode to the next level

    Google is working to take Airplane Mode to the next level

    Google has filed for a patent via the World Intellectual Property Organization (WIPO) that is titled “Activating a Connected Flight Mode.” What Google is doing here is taking Airplane Mode to another level. While you probably know how to activate Airplane Mode on your phone, the patent calls for sensors on the device to determine whether you are flying by  tracking changes in acceleration and speed, a drop in pressure, and by listening for certain sounds.

    According to the patent filing and Parkifly, more precisely, the triggers that would enable Connected Flight Mode include environmental factors such as a drop in pressure and changes in acceleration and velocity; cabin sounds like the noise of the flight engine and altitude ding, ultrasonic airplane beacon signals, various radio signals (GPS, Cellular ID, Wi-Fi signal), and contextual factors such as travel booking activity and check-in status.

    Once the device determines that you are flying, Connected Flight Mode is activated automatically. The goal here is to shut down the radios on your mobile device while keeping you connected to Bluetooth and the plane’s Wi-Fi signals. Currently, if you activate Airplane Mode on your phone, all connectivity including Wi-Fi and Bluetooth are turned off. But you can access Bluetooth and Wi-Fi by turning them on separately after activating Airplane Mode. This is true for both Android and iOS.
    With the Connected Flight Mode enabled as outlined in the patent application, Bluetooth and Wi-Fi connectivity remains open for use on the plane. The feature would also allow the device connected to Wi-Fi to operate as though it was connected to the same “high bandwidth capabilities and un-metered use” as the Wi-Fi you use on the ground. Thus, the inflight Wi-Fi would get treated the same as other Wi-Fi networks.
    What does this mean? Google explains. “Therefore, processes which use a lot of bandwidth, such as photo backups, may still execute while on a flight regardless of actual flight network capacities and qualities and thus can take up a significant amount of the limited resources of the plane’s internet connectivity. The disclosed technology can automatically switch a connected flight mode on before or during a flight to provide portable computing devices with granular levels of connectivity.”
    This sounds like a cool idea although Google is still working on this. Hopefully it won’t be too long before Connected Flight Mode becomes a reality on Android.
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