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Category: Do It Yourself

Retail News Asia is committed to providing both local and global retailers with the latest DO IT YOURSELF news throughout the Asian market. This on a daily base.

  • Mr DIY revives IPO plan, launches new format

    Mr DIY revives IPO plan, launches new format

    Mr DIY Group has revived plans for a US$500 million IPO following the postponement in March due to the coronavirus.

    The deal, which could be the largest Malaysian IPO in four years, is now pending the enthusiasm of potential investors and could be scheduled for October. It would be singularly responsible for lifting the country’s beleaguered equity capital market, floundering at just $70.7 million worth of IPOs thus far this year.

    Mr DIY saw record sales in May and June following the partial lifting of Malaysia’s movement restriction order.

    The firm has recently launched its new dollar store concept in the territory, selling snacks, drinks and food items for either RM2 or RM5, while its core business is now trading in Vietnam through a franchise partner, with two stores already in business and another under construction in Ho Chi Minh City’s Estella Place, scheduled to open in October.

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  • Bunnings to have full e-commerce offer by Christmas

    Bunnings to have full e-commerce offer by Christmas

    Bunnings managing director Michael Schnieder has announced he expects the homewares and DIY retailer will have its e-commerce operations online and fully operational nationwide before Christmas 2019.

    The business has trialled a more limited online offering in select locations, but has previously stated it would roll-out a more robust offering by September 2020.

    “We believe that, done right, our click and collect offer will be rolled out across Australia by Christmas – well ahead of schedule,” Schneider said.

    “This follows the successful introduction of click and collect in Tasmania in April. We’ve been really delighted with the progress and customers’ response to the offer.

    “This is a real testament to our team, who have worked hard to make this happen, ensuring we are building an offer that delivers choice and convenience when it comes to how people want to shop with us.”

    Schnieder also indicated that he expects lower interest rates and the Coalition’s incoming tax cuts to spur customers into spending, delivering some relief in a difficult retail environment – one which NAB chief economist Alan Oster said fallen to levels not seen since the GFC.

    Bunnings has the fourth most visited shopping and classifieds website in Australia, but only enabled online ordering of select items in June of 2018.

    The DIY retailer has previously said it will shift some of its focus toward first-time DIY customers to target the “next generation of customers”.

    The trends of high-density living and long-term renting have informed the business’ products moving forward, as opposed to its more traditional large-scale renovation focus.

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  • Queensland Officeworks sale sets record low yield

    Queensland Officeworks sale sets record low yield

    A newly developed Officeworks in Queensland has been sold on what is understood to be a national record low yield for an Officeworks store.

    The 1,661sqm Officeworks store at North Lakes in Brisbane’s high-growth northern corridor has pre-sold on a 10-year lease-back for $7.093 million, reflecting a record 4.8 per cent yield.

    Savills’ Peter Tyson and Jon Tyson handled the marketing and sale on behalf of Officeworks Limited to a private Melbourne-based investor with Joel Wald of MMJ Real Estate acting for the buyer.

    Tyson said Officeworks North Lakes attracted intense buyer interest nationally with more than 180 separate enquires and multiple offers.

    “This was a very hotly contested offering, resulting in what is believed to be a new national benchmark yield for a freestanding Officeworks,” he said.

    “New single tenant investments with long lease security and blue-chip covenants such as Officeworks are highly sought after by the marketplace due to their bond-like attributes.”

    Officeworks developed the new store with parking for 57 cars on a 4,029sqm high profile corner site on Flinders Drive in the North Lakes Business Park.

    “Officeworks viewed the location as strategic as the new store will join a growing list of retailers lining up in the North Lakes precinct,” Tyson said.

    “These retailers include Queensland’s only Costco Wholesale outlet, Queensland’s biggest Bunnings Warehouse, as well as Ikea’s recently opened store in the nearby Westfield North Lakes regional shopping centre.”

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  • Costco to open third Sydney outlet at Marsden Park

    Costco to open third Sydney outlet at Marsden Park

    Bulk discount retailer, Costco, will open its third Sydney outlet, and ninth store nationwide, at Marsden Park in Sydney’s northwest next week.

    The Costco Marsden Park store, which will span 13,575sqm, will include a Costco fuel station, tyre centre, food court, optometrist, hearing aid services and fresh food production.

    The site is located within the large format retail precinct at Sydney Business Park, in Marsden Park. Costco is the latest major retailer to open at the Business Park, which is one of Australia’s largest large format retail centres, spanning 115,000sqm in floor space.

    Owen Walsh, Sydney Business Park project manager, said Costco is a welcome addition to Sydney Business Park, which, is fast becoming a major shopping and warehouse distribution and logistics destination for the region.

    “We are pleased to be part of Sydney’s rapidly growing northwest, and it is rewarding to see the community growing around Marsden Park and the Sydney Business Park,” Walsh said.

    Walsh said in the last five years, the Marsden Park community has completely transformed with the establishment of major new retailers opening their doors.

    “New retail has created new jobs and that has attracted people to relocate here to be closer to where they work or to find work,” he said. “The next five years will see even more dramatic transformation with major commercial towers to be built as well as a major town centre. By 2025, the surrounding North West Growth Centre is expected to support 177,000 new residents and 61,900 new homes.”

    Sydney Business Park has secured approximately $600 million in investment to date, on track as part of the broader $3 billion project.

    Patrick Noone, Costco Wholesale Australia managing director, said the company was very pleased with the new site and said the store opening marks another significant milestone for the company.

    Costco joins other retailers at the centre including Aldi, Baby & Toddler Town, Beacon Lighting, Bunnings Warehouse, Carpet Call, Coles Express, Costco Wholesale, Forty Winks, Home Consortium Marsden Park, Home Hub Marsden Park, Ikea, JB Hi-Fi Home, Knotts Pine, Lindt Factory Outlet, Reece, Repco, Shell, Snooze, and The Good Guys, among others.

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  • EuroShop enters the Indian market

    EuroShop enters the Indian market

    EuroShop Düsseldorf, the leading international trade fair for all investment needs in the retail sector, is entering the Indian market-now touted to be one of the fastest growing retail markets in the world with a volume of 500 billion US dollars. Messe Duesseldorf GmbH, the parent that organises the fair which is globally well known as a trade fair organiser and as a provider of trade fair related services for exhibitors and visitors.

    Under the ‘Mall of Europe powered by EuroShop’ umbrella, the Düsseldorf-based trade fair had recently provided exhibitors the opportunity to participate in the In-store Asia fair in New Delhi in August this year, as a first step into India.

    Messe Düsseldorf has now sealed a close, long-term cooperation deal with In-store Asia organiser, Thought Shows & Events Pvt Ltd, under which they have formed a new company with equal participation between Messe Düsseldorf India Ltd. and In-store Asia called Excosa. The deal which involves retail design and in-store marketing domain related events will see In-Store Asia being organised annually in alternating locations between New Delhi and Mumbai from February 2018 onwards.

    For many years now, In-store Asia has been the largest retail fair for retail design and in-store marketing in the Indian sub-continent, and has been instrumental in bringing these domains’ Indian community onto one platform and enabling them in keeping pace with global trends, innovations and developments.

    “In-store Asia now joins the family of EuroShop, that has been the undisputed leader in this domain for the last five decades”, says Vasant Jante, founder and managing director of In-store Asia. He further explains,”This was the best option to broaden the horizon for the growing In-store clientele to enable new global opportunities in trade, partnerships, new technologies and reaching new markets in this domain. The timing is also perfect considering the healthy growth rate of the Indian retail market which has made it a top location for international investments from global brands and retailers. ”

    An official statement says that ‘for the trade fair organisers from Düsseldorf, the cooperation with the Indian trade fair is the ideal way to tap into India’s national retail scene. It is estimated that retail area in India’s top 7 metropolises will grow to 4.3 million square metres in the next 5 years.’

    Hans Werner Reinhard, managing director, Messe Düsseldorf, recalls,”We met Vasant Jante during a EuroShop presentation in India in 2013. Then in 2015 we experienced In-store Asia live for the first time, and we were really impressed with the fair. More than 5,000 decision-makers from the industry, retail, architecture and banking sectors visit the event, and its offerings range from retail design, lighting, digital signage to POP displays and visual merchandising, as well as retail technology. Excosa will enable us to gain a foothold in a highly exciting, aspiring retail market.”

    Incidentally, Messe Düsseldorf has had its own subsidiary, Messe Düsseldorf India Ltd., with headquarters in New Delhi and a branch office in Mumbai for some years now, and has gathered extensive experience in organising international trade fairs in the country.

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  • Thai cash and carry chain Makro in $86m acquisitions, expands in SE Asia

    Thai cash and carry chain Makro in $86m acquisitions, expands in SE Asia

    Thai listed wholesaler Siam Makro, through its subsidiary Siam Food Services, has entered agreements to acquire four food service businesses in Asia and the United Arab Emirates, for over 3 billion baht ($86 million).

    The Thai cash and carry operator said, in a regulatory filing, it will be buying 80 per cent each in these targeted companies, which are Indoguna (Singapore) Pte Ltd, Indoguna Dubai LLC and two Hong Kong-based firms Lordly Company Limited and Just Meat Company Limited.

    Siam Makro said it would use its own capital and bank loans to facilitate the acquisitions.

    The transactions are expected to “support Siam Food in expanding its business with respect to providing food services solutions to premium food supplies in Singapore, the United Arab Emirates and Hong Kong and in accelerating an expansion of the business to ASEAN countries,” the company stated.

    The targeted firms are engaged in a business related to Siam Food and Siam Makro operation, which is importing, exporting and distributing raw and frozen premium food supplies including Halal products and sausage and salami processing.

    In conjunction with the aim to expand in Asia, Siam Makro has also set up a $2 million joint venture in Cambodia, registered as Makro Cambodia Limited in September 2016, in which it holds 70 per cent equity.

    Siam Makro had said earlier this year that it was looking at the possibility of investing 6 billion baht to open 20 stores domestically during the year, and 3 billion baht to expand elsewhere in Southeast Asia, possibly in Cambodia, Laos and Vietnam.

    The cash and carry chain’s parent company, CP All – controlled by business conglomerate Charoen Pokphand Group, operates the 7Eleven retail outlets in Thailand. CP All is reportedly planning to bring down its major holding of 97 per cent in Siam Makro.

     

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  • Siam Makro eager to open first store in Myanmar

    Siam Makro eager to open first store in Myanmar

    Siam Makro Plc, the operator of Makro cash-and-carry stores under Charoen Pokphan Group, is keen to expand its retail business in Myanmar in the near future.

    Chief executive Suchada Ithijarukul yesterday said the company had met the Thai ambassador in Yangon to explore market opportunities in Myanmar.

    “We have conducted a feasibility study on Makro’s market opportunities in many Asean countries, with Myanmar, Vietnam and Indonesia being the priority destinations,” she said.

    Siam Makro is studying Myanmar consumer behaviour and foreign investment laws. If the regulations are clear, it is ready to open its first store immediately.

    According to an executive of ABC Group, operator of Myanmar’s second-largest convenience store chain, so far the Myanmar government has not allowed foreign retailers to invest in the country by themselves.

    Foreigners will be allowed to invest in supermarkets and hypermarkets next year but will have to form joint ventures with Myanmar companies.

    “The retail landscape in Myanmar will drastically change and new retail plazas will be gradually opened in the near future,” said Wichai Kanrahong, a counsellor at the Thai embassy in Yangon.

    About 80% of products are imported from countries including Thailand.

    “With the connected border and many Myanmar workers in Thailand, Myanmar people are quite familiar with Thai brands,” Mr Wichai said.

    Mrs Suchada said Makro’s business format allowed it to open anywhere because it has various store types.

    “The boom of tourism in Myanmar is also an opportunity for Makro,” she said.

    Makro has already opened branches in border towns near Myanmar.

    It has also conducted a feasibility study to expand into Indonesia and Vietnam, which have big populations. Laos and Cambodia are seen as second-tier countries.

    Mrs Suchada said the company would keep investing in Thailand by opening two stores in Phrae and Trat by year-end. Each will need an investment of 300 million baht.

    “Though the economy is not good, we are satisfied with our performance in the first nine months,” she said.

  • Tesco to sell off Homeplus

    Tesco to sell off Homeplus

    British retailer Tesco has kicked off a sale process for its South Korean unit, whose market value is estimated at around $5 billion, according to industry sources on Friday.

    The U.K. retail giant sent out a teaser letter to prospective buyers on Thursday and hired HSBC as the sale broker for Homeplus.

    “With this pace, Tesco may be able to begin the preliminary bid in July and wrap up the takeover deal in October,” an official at an investment bank said.

    Tesco owns a 100 percent stake in Homeplus, South Korea’s second-largest supermarket chain, which runs more than 140 stores as well as franchise and convenience stores in the country.

    Industry watchers see global buyout firms Carlyle Group, KKR & Co. and CVC Partners and Korea’s National Agricultural Cooperative Federation, or NongHyup, as potential bidders for the business.

    There seems to be a low possibility that Korean retail players will participate in the bid due to the hefty price tag and regulations on monopoly. The operation of the country’s No. 1 supermarket chain E-Mart and No. 3 Lotte Mart would be restricted by government regulations if they took over Homeplus.

    The sale of the South Korean business comes after Tesco reported the biggest ever loss in British retail history in April and its credit rating was cut to junk status by Moody’s and S&P earlier this year.

    Tesco entered the Korean market in 1999 in a joint venture with Samsung. Homeplus has grown to become its largest business outside the U.K.

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  • Courts partners with Ace Hardware

    Courts partners with Ace Hardware

    Singapore electrical goods and homewares chain Courts is expanding its hardware offer with a concession deal with US brand Ace Hardware.

    Ace already has standalone stores in Indonesia and the Philippines. Now it will open stores-within-stores in selected Courts stores, starting with an 8000 sqft space in the flagship Megastore in Tampines. It is not yet clear if Courts will take the brand into its Malaysia stores as well.

    Courts has signed a 10 year partnership with Illinois-based Ace Hardware, which has 4600 stores globally and turns over over $13 billion annually.

    In a separate agreement, Courts will partner with Danish retailer JYSK to open concessions selling homewares

    They are Ace Hardware International Holdings, and Danish retail chain JYSK, which sells mattresses, furniture and home interior decor. Despite being Denmark’s largest international retailer, it has an Asian presence to date only in China and Indonesia, where it trades under the JYSK Nordic brand.

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  • India’s Big Bazaar opens 100th store

    India’s Big Bazaar opens 100th store

    India’s Big Bazaar is now present in more than 100 cities in India. The last store to be opened by the retail chain last December was the Rourkelo store in Orissa.

    In the last three months prior to the opening of its newest store, Big Bazaar also opened 17 new stores across the country, in cities like Jharsugda, Bhopal, Varanasi, and Bokaro.

    To celebrate its 100th city milestone, Big Bazaar held the “100 cities Celebration” last month in all Big Bazaar outlets, offering as much as 50 percent discounts in various product categories like kitchenware, home furnishings, fashion apparels, and electronics.

    “Our strategy has been to understand the art of doing business in India, while putting in the best practices in Science of retailing. This has helped us customize a complete experience for our customers,” Sadashiv Nayak, CEO Big Bazaar, said in a news release.

    Big Bazaar said it has a loyal customer base of over 2.5 crore (25 million). These customers are part of its various loyalty programs like, Payback, T24 Mobile and Big Bazaar.

    The retail chain is the flagship hypermarket retail chain from Future Group, with  has over 184 stores across the country.

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  • Billabong kickstarts supply chain transformation

    Billabong kickstarts supply chain transformation

    Global surf brand Billabong and its family of brands is positioning its supply chain to support transformation of its wholesale and retail businesses.

    Billabong said it will connect suppliers and trading partners in a cloud based network using the GT Nexus platform to facilitate and automate processes for supply chain financing, order collaboration, invoice management, in-transit visibility and payment management.

    Billabong International Limited is a global marketer, distributor, wholesaler and retailer of apparel, accessories, eyewear, wetsuits and hardwoods in the boardsports sector under the Billabong, RVCA, Element, Von Zipper, Honolua Surf Company, Kustom, Palmers Surf, Xcel, Sector 9 and Tigerlilly brands.

    Jeff Streader, Chief Operating Officer at Billabong,said making data and capital more accessible to suppliers will remove friction and enable agile delivery of goods. The deployment of GT Nexus is part of a larger global initiative at Billabong to obtain real-time supply chain visibility to drive retail and wholesale business growth.

    “Risk and uncertainty remain prevalent as social, political and economic volatility pose constant threats to supply chains,” said Sean Feeney, CEO of GT Nexus. “The only way to assure undisrupted supply and delivery of goods while preserving margins is end-to-end visibility across all trading partners, brands and business channels. That’s the power of a cloud supply chain operating as a network.”

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  • American Apparel bans work romances

    American Apparel bans work romances

    What do you do if you manage a company that has just ousted its founder following a string of sexual harassment allegations? The answer is to ban workplace romances – at least according to the fashion chain American Apparel.

    The retailer has barred managers from relationships with “subordinates”, while any romantic entanglement between staff “where one person may have perceived or actual influence over the other’s terms of employment must be disclosed by the participants to the Human Resources Department”, according to the group’s new code of conduct.

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  • Berlin Jucker’s Metro deal stalls

    Berlin Jucker’s Metro deal stalls

    An attempt by Berli Jucker Plc (BJC) to buy Metro Group’s cash-and-carry unit in Vietnam was aborted on Thursday after its shareholders voted unanimously to reject the EUR655-million (USD775.7 million) deal.

  • Taiwan consumer price index rose 1.2pc in 2014: government

    Taiwan consumer price index rose 1.2pc in 2014: government

    Taiwan’s consumer price index rose 1.2 percent in 2014, the sixth consecutive year it has risen by less than 2 percent, according to government statistics released Tuesday.

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  • Urban Ladder to hire 1,400 more this year

    Urban Ladder to hire 1,400 more this year

    Online furniture vendor Urban Ladder will add 1,400 employees to its workforce this year to beef up its rapid expansion plan. The Bengaluru-based company’s current headcount is 600 across seven cities. The company is also planning to expand its presence to 25 more cities, including Coimbatore, Mysore, Kolkata and Vizag, by 2015-end and to add more product lines and categories to its existing portfolio.

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