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US stationery retailer Papyrus is preparing to close all of its more than 260 physical stores throughout the country.
Brand owner Schurman Retail Group’s COO Dominique Schurman broke the news in a letter to all staff, citing “current challenges of the retail industry”, explaining that the firm had been “diligently working to revitalize our business” during the previous months, without success.
Liquidation firm Gordon Brothers will help with sales as the firm drops off the brick-and-mortar retail map, having traded via its physical outlets since 1973.
“This decision is heartbreaking for me, personally of course,” said Schurman, “and also because I know how dedicated you all have been to your stores and this company”.
At present, it is unclear whether or not the firm will file for bankruptcy.
The company will reportedly maintain its online store and its wholesale business which distributes Papyrus-branded greeting cards to other retailers.
7-Eleven Singapore will collect cash payments for transactions initiated via home-grown financial-services company Pay2Home’s digital platform.
Pay2Home is one of the growing group of fintech companies creating services for consumers who are unbanked, including hundreds of thousands of migrant workers who send funds back to their families in their home countries.
Under the Pay2Home and 7-Eleven Singapore partnership, those without a bank account or debit card may now initiate a remittance transaction using the Pay2Home mobile app and pay instantly with a generated QR-code bill using cash at any 7-Eleven store. The funds are available for immediate delivery overseas.
Pay2Home co-founder David Hulme says migrant workers in Singapore continue to transact primarily in cash.
“Many are still paid in cash; they buy in cash, and their home countries are cash economies,” he says. “If you’re catering to a market that prefers cash and is more comfortable with cash, then as a FinTech company, our responsibility is to make sure that our digital services meet their needs. It’s about financial inclusion at their pace, not ours.”
Steven Lye, MD of 7-Eleven Singapore, says partnering with Pay2Home is an example of the convenience-store chain’s efforts to differentiate itself and provide relevant services to the community at large.
“With 400 7-Eleven stores Island-wide as additional payment touchpoints, Pay2Home’s underbanked customers can conveniently pay for their remittance transactions without having to queue at a conventional remittance counter.”
Founded in 2001, Pay2Home was the first remittance company to receive regulatory approval to operate online and the first to pioneer purpose-built multilingual self-service Money Transfer Machines. It is the only full omnichannel remittance operator in the country.
If you are among those who wish to become pilots someday, now is your chance to reach your dream. AirAsia has recently announced it is now accepting applications for the “Dare to Fly! The Allstars Cadet Pilot Program.”
The aim, according to a press release from AirAsia, is to select as well as train aspiring young pilots.
In this program, AirAsia has teamed up with Omni Aviation Corporation in a bid to provide successful cadets with up to two years of technical and leadership training. It is to reach the competencies that are required by the Civil Aviation Authority of the Philippines.
“AirAsia is proud to have the best pilots in the country and we will strive to train more young cadets with our partner Omni Aviation Corporation,” said Ricky Isla, the CEO of AirAsia Philippines. “Through the ‘Dare to Fly! The Allstars Cadet Pilot Program,’ we invite Filipinos to dare to dream with AirAsia.”
Locks and security-solutions company Assa Abloy plans to expand its Yale Smart Shop franchise network to 500 stores across Asia after a successful pilot in Toa Payoh, Singapore.
The company has launched a franchise program for Yale Smart Shop with a new store in Tiong Bahru, Singapore.
The store-in-store retail concept includes modular display cases that are geared for rapid deployment in new stores, the company said in a statement. The e-commerce platform fully supports a scalable yet sustainable business model to translate offline experiences into online purchases.
To ensure a consistent brand experience and smooth launch and operations at new locations, all franchisees will receive a Yale Smart Shop playbook, a store operator starter kit, and comprehensive training at the pilot store in Singapore.
“During the first few months, franchisees will receive all the support they need to build awareness in their neighborhood and local area,” said Patrick Ng, GM at Assa Abloy Singapore.
“We are very encouraged by the record-breaking results recorded at the pilot store in Singapore and look forward to significantly growing the Yale brand and e-commerce sales across the Asia-Pacific region over the next two years,” he added.
Adding to the eight Yale Smart Shops across five countries already operational in Asia Pacific, Assa Abloy plans to open 100 stores this year and add 400 stores by the end of next year.
Braun Buffel has launched its new store concept at Ion Orchard in Singapore, creating a brand experience with multiple physical and digital touch-points.
The store’s facade features Champagne-gold fonts against soft white frames. To create a modern look, marble stone tiles in light grey with streaks of white tones are used. Hand-brushed finishes on the cement provide a three-dimensional textured effect on both the floors and walls. Pastel rose pink is chosen as the themed color for the walls.
The Braun Buffel store at Ion Orchard has also unveiled its Spring/Summer 2020 collection with the theme of “Individualism” featuring different selections for men and women.
Founded 1887, Braun Buffel is exclusively distributed in the Asia Pacific region by Lianbee-Jeco, and has boutiques in The Shoppes at Marina Bay Sands, Ion Orchard, VivoCity, Suntec City Mall, Westgate, and Terminals 2 & 3 (Departure/Transit Lounge) at Changi Airport, as well as counters in selected department stores.
The Enforcement Directorate has summoned AirAsia chief executive officer (CEO) Tony Fernandes on 20 January in an ongoing probe against the airline. Summons have been issued to the entire top brass of the airline, both past and present, under the Prevention of Money Laundering Act (PMLA).
The action against Fernandes comes more than a year after both the ED and the Central Bureau of Investigation (CBI) launched their respective probes in alleged financial irregularities and criminal misconduct when the airline was lobbying to obtain its license for its Indian operations.
In May 2018, the ED had filed a case of money laundering against AirAsia officials and others for allegedly trying to manipulate government policies through corrupt means to get international license for its Indian venture — AirAsia India Limited.
In June 2018, the ED widened its probe into the AirAsia money laundering case after collecting documents from the Ministry of Commerce and Industry related to foreign direct investment (FDI) clearances given to the airline.
The probe agency had pressed charges under the PMLA to probe the trail of funds that were allegedly used to create illegal assets, following the case registered by the CBI against the airline and Fernandes.
The CBI had searched offices of AirAsia India and filed a complaint against Fernandes for allegedly lobbying the government for overseas flight permits and violating rules that prevent foreign airlines from controlling Indian operators.
CBI’s first information report stated that the violations occurred from 2013 to 2016, before the government eased restrictions on Indian airlines starting overseas flights in June 2016.
The AirAsia spokesperson was not available for comment on the matter.
Singapore Airlines will roll out one of its A350-900s on its new route between Singapore and Ahmedabad in Gujarat, India. Singapore Airlines’ new service is set to take flight from 1 February 2020. Ahmedabad will be the airline’s seventh Indian destination.
The service would operate six days a week from the start of February, ramping up to a daily service at the beginning of April 2020.
The outbound flights will push back from Singapore’s Changi Airport at dinner time for a mid-evening arrival into Ahmedabad’s Sardar Vallabhbhai Patel International Airport. The return flight is a late evening departure from Ahmedabad, flying through the night for a breakfast time arrival into Singapore. Flying time is five hours and 40 minutes. For the first two months, the flights will not operate on Wednesdays.
The Singapore Airlines A350 is a popular option for the Simple Flying team. In April 2019, Jay Singh flew from Singapore to Johannesburg on an SQ A350, an experience he described as ‘almost perfect.’
Well, he was drinking Charles Heidsieck and eating a chicken curry rustled up through the airline’s ‘Book the Cook’ service. What’s not to like about that?
Now he wants to do the ultra long haul Singapore to Newark A350 flight.
A few months later, Nick Cummins found himself on the same aircraft type when flying Singapore Airlines. He flew from Germany to Singapore in October 2019. Nick liked it so much he made a video about it.
Having had a few dodgy airline ham and cheese toasties in his time, he’s now on a quest to discover the best and worst airline ham and cheese toasties. The Singapore Airlines toastie got the thumbs up. Nick’s only real complaint was the airline didn’t have an endless supply of desserts.
This all bodes well for passengers on the same aircraft type on the new service to Ahmedabad. If, like Nick and Jay, you are lucky enough to be in business class, you’ll enjoy your Piper with 40 other passengers relaxing in lie-flat seats in a 1-2-1 layout. Even back in the main economy 3-3-3 cabin, the 263 passengers can enjoy one of the best economy class products in the sky.
Services will be six days a week initially before going daily two months later. Photo: Singapore Airlines.
The new service to Ahmedabad will provide local residents with one-stop access to North America, Oceania, Asia, and if you are not put off by a little backtracking, Africa, the Middle East and Europe.
The six days a week Singapore Airlines A350 service between Singapore and Ahmedabad will begin on 1 February 2020. It will become a daily service on 29 March 2020.
Locks and security-solutions company Assa Abloy plans to expand its Yale Smart Shop franchise network to 500 stores across Asia after a successful pilot in Toa Payoh, Singapore.
The company has launched a franchise program for Yale Smart Shop with a new store in Tiong Bahru, Singapore.
The store-in-store retail concept includes modular display cases which are geared for rapid deployment in new stores, the company said in a statement. The e-commerce platform fully supports a scalable yet sustainable business model to translate offline experiences into online purchases.
To ensure a consistent brand experience and smooth launch and operations at new locations, all franchisees will receive a Yale Smart Shop playbook, a store operator starter kit, and comprehensive training at the pilot store in Singapore.
“During the first few months, franchisees will receive all the support they need to build awareness in their neighborhood and local area,” said Patrick Ng, GM at Assa Abloy Singapore.
“We are very encouraged by the record-breaking results recorded at the pilot store in Singapore and look forward to significantly growing the Yale brand and e-commerce sales across the Asia-Pacific region over the next two years,” he added.
Adding to the eight Yale Smart Shops across five countries already operational in Asia Pacific, Assa Abloy plans to open 100 stores this year and add 400 stores by the end of next year.
Don Don Donki has opened a new store at Jem mall in Jurong, its largest store yet in Singapore.
Spanning two floors, Don Don Donki at Jem mall has turned the old Marks & Spencer department-store space into its food court.
The new Don Don Donki store offers a wide selection of Japanese products including lifestyle, homewares and cosmetics. It also features a sushi counter where its customers can buy freshly made sushi.
The Orchard Central outlet, which opened in 2017, was previously the brand’s largest store in the city state.
South Korean convenience-store chain GS25, owned by GS Retail, has opened a futuristic convenience store without a checkout counter in Jung District, Seoul this week.
The store, which is located in the headquarters building of a local credit card company BC Card, is similar to Amazon Go, checkout-free offline malls in the US.
One can enter the convenience store by scanning a BC Paybook QR code from BC Card’s mobile payment app at the speed gate.
When customers enter the store, 34 ‘deep-learning cameras’ will recognise their behaviour. In addition, some 300 weight sensors installed throughout the store detects the number of items that customers choose.
When a customer chooses their purchases and exit the speed gate, all the items will be automatically paid for through a payment system using artificial intelligence (AI) technology, and a mobile receipt will be issued.
A video-recognition speaker is also installed, where a pre-set voice will guide the customers through speakers. If customers are standing at some point or do a particular action, the speaker will provide assistance.
In the future, the company will gradually introduce technologies that guide customers to promotions when they approach a presentation product stand.
Health and beauty retailer Watsons has partnered with Tencent’s WeChat Work platform to establish an online presence and launch cloud-based WeChat stores this quarter.
Watsons China’s launch on WeChat Work and the establishment of cloud stores will enable the brand to provide more personalised, round-the-clock services to its more than 65 million-strong customer base shopping at Watsons’ 3800 physical outlets – each of which will have a corresponding cloud store under the new system.
“To retain our over 65 million loyal members as well as appeal to new customers, we have to be at the cutting edge of retailing, and find a way to stay close with them,” said Watsons China CEO Kulvinder Birring. “With big data technology, these social-commerce platforms add another dimension to our relationship with customers, enabling us to connect and interact with them, and ultimately become the most-loved brand of our customers.”
“We’ve been working very closely with Watsons,” said WeChat Work senior industry director Hau Lu. “Combining the advantages of both parties, we will further cooperate and jointly search for more business opportunities.”
The new Watsons China’s WeChat Work platform will establish a communication channel in which customers can add store staff as WeChat friends, who then become their personal beauty consultants. Customers can seek advice from store staff at any time, from anywhere, and enjoy one-to-one customer service. If a product is not available from a customer’s nearest branch, store staff can help to order the item in the cloud store system. Customers can also choose to have their order delivered via courier, “click & collect” or the “one-hour flash delivery” service.
“WeChat Work helps us nurture a closer relationship with our customers,” said Wanda Plaza ZhengZhou Watsons store manager Ellen Shen. “They can now contact us any time for personalised service and advice. We’re glad to be able to earn their trust and become their friends. Since its launch, we’ve received very positive response from customers who have added us as friends to enjoy this one-to-one service.”
Watsons has also introduced an AI chatbot called Wilson, who is a virtual spokesperson for the brand available 24/7 via WeChat Work. The bot can provide customers with professional and personalised advice, aimed at providing an entertaining and useful addition to the shopping experience.
Liverpool FC has partnered with CRC Sports to launch a merchandise pop-up store in Vietnam.
Located at Estella Place shopping mall in District 2, the pop up offers fans a full range of New Balance replica kit as well as authentic Liverpool FC merchandise, apparel and fashion accessories.
“Our new store in Vietnam will enable us to continue to expand our retail operations, so all our fans can enjoy authentic LFC experiences and purchase our whole range of official merchandise,” said Mike Cox, senior VP, merchandising at Liverpool FC.
During the Liverpool FC store’s launch event, fans were given the opportunity to meet and take photos with former Liverpool forward Luis Garcia.
Hong Kong-based retailers will continue to face tough times as domestic and international issues impact the economy according to a leading analyst.
Anne Ling, an equity analyst at investment bank and financial-services company Jefferies Group, says every 10 percent decline in retail sales impacts the earnings-before-tax (EBIT) of Hong Kong retail companies by between 7 percent and 55 percent. Retail sales in October and November fell by about 24 per cent and during the first 11 months of last year were down by 10.34 percent.
“For international brands like Prada, Samsonite and L’Occitane, we estimate the impact at the sales level is not that material [because] Hong Kong [represents] less than 2 percent to 5 percent of sales. However, at the EBIT level (circa 3 percent to 7 percent) Hong Kong has a higher contribution.”
Ling warns Hong Kong-based retailers are vulnerable to a risk of further market slowdown from a higher unemployment rate and weaker consumer confidence in the city.
“In such times, the immediate lever to hand for brands and retailers is to increase cash flow by reducing inventory and staff and/or rental costs. However, over the medium term, we would expect most players to reset or readjust their Hong Kong store networks to avoid over-reliance on tourist spending.
“We see a need for the Hong Kong and international brands and retailers listed in Hong Kong, which have heavily de-rated in recent years, to review their business strategies and seek out new business drivers, [so] that they remain relevant to investors.”
Ling says she expects Sino-US tensions to continue while the mainland Chinese government focuses on stabilizing economic growth this year.
Given that backdrop, Jeffries would favor recommending investment in Hong Kong-based retailers and manufacturers of low-ticket items like staple goods, food retailers and the fast-food segment, as they are more resilient.
Typo Vietnam has launched its second store in Ho Chi Minh City, a month after making its debut in the country.
Located at Crescent Mall, the new Typo Vietnam store features a wide collection of gifts, decor and travel accessories.
The Australian stationery brand also offers special products featuring characters from Disney, Marvel and Star Wars.
Opening last month, the first Typo Vietnam store is located at the new development Aeon Mall Ha Dong in the capital city of Hanoi.
Founded in 2009, Typo operates more than 250 stores in 14 countries and regions, as well as an online destination that ships globally. It is owned by the Cotton On Group.
Vietnam consumer-goods company Masan Group says it plans to shut down hundreds of VinMart and VinMart+ stores it purchased from VinGroup last year.
The company said they will open 10-30 new Vinmart supermarkets and close 100-300 Vinmart+ stores this year to focus on improving profitability of existing locations instead of following the program of massive expansion followed by the previous owner.
Masan will shift its focus to supermarkets of less than 1500 sqm that bring the best revenue, cut inefficient supermarkets in Hanoi, Ho Chi Minh City, Nha Trang and Can Tho and expand into tier 2 cities and within Vincom shopping centres.
The VinMart+ chain operated 2888 stores last year and had targeted opening 300 to 500 new stores while closing 150-300 less efficient stores.
Post merger, Masan aims to increase VinCommerce’s revenue to more than VND42 trillion, a year-on-year increase of 64 per cent. Masan has spent an estimated VND5.4 trillion (US$233 million) to buy a controlling stake in VinCommerce, which runs VinMart and VinMart+ stores in 50 provinces and cities and 14 VinEco hi-tech farms.
Meanwhile, VinGroup closed its VinPro chain of appliance stores on December 31 and has since announced the closure of a network of smartphone stores trading under the Vien Thong A brand. And this week, VinGroup said it was dropping plans to launch an airline as well as it seeks to focus its business on industrial categories – including cars (VinFast), and phones and flatscreen TVs (VinSmart) – along with its Vincom shopping centres and VinPearl resorts.
