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Category: General

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

  • Carrefour China business Sold

    Carrefour China business Sold

    Suning is to buy an 80 percent controlling stake in Carrefour China for €620 million (RMB 4.8 billion).

    The first Carrefour China supermarket was opened in 1995 when the French company was one of the first foreign retailers to enter the market. Currently, it operates 234 outlets – 210 large-format hypermarkets and 24 convenience stores. Net sales for its last full year were €3.6 billion (RMB 28.5 billion) and pre-tax profit €66 million (RMB 516 million).

    Just last month, Carrefour executives denied the business was for sale, but financial media have been reporting what turned out to be markedly accurate reports of negotiations this year.

    Suning’s purchase follows the acquisition of 37 Wanda department stores earlier this year, which will be converted to Suning.com branding.

    The company says it will use its smart-retail expertise to digitalize Carrefour China’s existing store network to create a “leading innovative supermarket shopping experience”.

    “In the future, we expect to open up the access for Suning’s various business models, such as household-electronics sales, Redbaby, JIWU, Suning Financial Services, SuFresh and Suning Xiaodian’s immediate delivery, [and] to get into Carrefour China’s stores located in the central business and living areas of Chinese first- and second-tier cities,” said Tian Rui, VP of Suning.com.

    “It will help us better meet more consumers’ needs due to strengthened core capabilities achieved by store innovation. With 400 million registered customers of the company’s retailing segment, Suning.com’s users-ecosystem will complement Carrefour China’s membership system, fully improving the customer value.”

    He said that by connecting the more than 6000 Suning Xiaodian stores with Carrefour China’s outlets, Suning’s ‘last-kilometre home-delivery service will be able to serve more consumers with lower cost but higher efficiency.

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  • Telegram update adds location-based chats

    Telegram update adds location-based chats

    What not as popular in the U.S. as it is overseas, the Telegram messaging app offers end-to-end encryption and no limits on the number of people you can chat with or broadcast to at one time. It’s no wonder that protesters of all types outside of the states love to use Telegram. And today, the company announced some changes that will be found in version 5.8 of the messaging app.

    You’ll notice that all new chats have a new button on the top of the screen that says “Add to Contacts.” This feature will allow you to quickly add to your Telegram contacts list a person who has sent you a message on the platform even without knowing their phone number. Another option also available at your fingertips will let you block someone who has sent you a message. And let’s say you’re at a party and want to add someone who you’ve just met to your contacts list. Going to Contacts > Add People Nearby will allow you to exchange information with another Telegram user as long as they are standing right next to you (and have the same feature open on their phone).

    The People Nearby section allows you to find location-based group chats and even create one. As Telegram notes, “This update opens up a new world of location-based group chats for anything from conferences, to festivals, to stadiums, to campuses, to chatting with people hanging out in the same cafe.” The latest version of the app lets you transfer ownership of a group or channel to another Telegram user and toggle on or off message previews for specific chats using the Notable Exceptions feature.

    Those using Telegram on an iOS device can now open the Appearance page to see what a new theme will look like before they apply them. After installing version 5.8, iOS users can choose which icon they want on the home page from four different options. And Telegram users with the iPhone or iPad can arrange to open chats hands-free using Siri shortcuts.

    The new update just hit the Telegram app on our Pixel, so keep your eyes peeled for version 5.8 rolling out now. Telegram can be found in the App Store for iOS or the Google Play Store for Android.

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  • Oriental Watch profit steady despite sales drop

    Oriental Watch profit steady despite sales drop

    Oriental Watch’s sales fell by 15.7 percent last year – but the company’s bottom line was only minimally affected, in part due to reduced rents.

    The Hong Kong-listed retailer says that while the number of mainland visitors to the territory recovered last calendar year, the China-US trade dispute had brought uncertainties to the market. Subdued consumer sentiment and currency rate fluctuations had also impacted on sales.

    Chairman Yeung Ming Biu said the company had focused on stringently controlling rent and other costs for the last five years. The group’s aggregate rental cost (excluding related property management fees) decreased by 4.1 percent in the year to March 31 to HK$162 million, accounting for 34 percent of the group’s overall operating expenses – almost one percentage point less than the previous year.

    That result despite relocating the company’s flagship store from 100 Queens Road, Central, to 50 Queens Road, in the heart of the city’s upscale boutiques.

    “The group believes that the change of location will further fuel the brand presence and the sales once it starts operation,” he said. “In addition, regular internal assessment on the performance of all retail stores and closedown of high-rent yet non-performing stores are also the group’s strategy for better resources allocation.”

    Group turnover last year was $2.437 billion, (US$312 million), with gross profit down just 0.7 percent to $603 million and gross profit margin up from 21 percent to 24.7 percent. Profit attributable to shareholders was $138 million, just 0.7 percent less than the prior year.

    Oriental Watch has 61 stores, 46 of them in Mainland China, 11 in Hong Kong, three in China and one in Macau.

    products and purchasing stock only when existing inventory depleted to a pre-agreed level. As at March 31, overall inventory was $824 million, down 17.7 percent from the $1.001 billion of a year earlier.

    “In parallel, the group has also continued to step up its efforts in adjusting and optimizing its brand portfolio, in order to stabilize the group’s overall sales performance and keep abreast of market trends. Oriental Watch will continue to maintain a lower inventory level for a better cash position and a sustainable business development in the future,” said Yeung Ming Biu.

  • Apple and Google are the top two most valuable brands in wireless tech

    Apple and Google are the top two most valuable brands in wireless tech

    Quick. Name the most valuable brand name in the world. Apple? nope. Google? That answer is so 2018. According to the 2019 BrandZ Top 100 Most Valuable Global Brands rankings computed by WPP and Kantar, Amazon is the most valuable brand with a value of $315 billion. Since the report considers Amazon to be a retailer, Apple is the leader among tech brands just edging out Google with valuations of $309.5 billion and $309 billion respectively. Google was the most valuable overall brand last year.

    Besides Apple and Google, other wireless giants in the top ten include Microsoft (#4, valued at $251.2 billion), Facebook (#6, $159 billion), and AT&T (#10, $108 billion). The value of Microsoft’s brand rose 25% from last year while more modest gains were seen for Apple (+3%) and Google (+2%). The value of brands in the tech sector rose 4% on an annual basis while telecom providers saw their brands increase by 1%.

    Looking at the remaining names on the list, those with a connection to the wireless industry include Verizon (#11), Xfinity (#20), T-Mobile (#25), China Mobile (#27),  Intel (#36), Samsung (#38), YouTube (#39), Instagram (#44), Adobe (#45), Huawei (#47), Vodafone (#49), LinkedIn (#58), Xiaomi (#74) and HP (#93).

    Xiaomi made the Top 100 for the first time at number 74. The brand is estimated to be worth $19.8 billion. Among the fastest rising brands, Instagram led everyone with a 95% year-over-year increase that took the valuation of the Instagram name to $28.2 billion. Adobe (+57% to $27.9 billion) and LinkedIn (+46% to $22.8 billion) also were among the brands having the largest increase in value from 2018 to 2019.

  • Tse Sui Luen store network expands Again

    Tse Sui Luen store network expands Again

    Hong Kong-headquartered jeweller Tse Sui Luen has reported a 9.6 per cent increase in profit for the full year, despite a marginal 1.7 per cent drop in group turnover.

    Profit attributable to shareholders was HK$54.2 million (US$6.9 million) on sales of $4.065 billion ($521 million).

    The Tse Sui Luen store network grew by 56 during the year, to reach 473.

    Chairman Annie Yau said sales rose in the first half of the year, reflecting the continuing upturn of Hong Kong’s retail sector. “However, conversely, towards the end of the year, the group started to feel the trickle-down effects of the trade dispute between the US and China which has adversely affected the market sentiment and consumer confidence and resulted in the depreciation in the Renminbi – all leading to a slowdown in the global economy and in local retail sales performance.”

    She said the fluctuation of the Renminbi value inevitably brought adverse impact on the second half. “The group is responding to these challenges with unique signature products and reinforcement of our market positioning as ‘Wedding Expert’, all aimed to offset the negative effects…”

    During the year, the group has demonstrated its vision to optimise its retail network across Asia and broaden its international presence through new store openings in Hong Kong, Mainland China and Malaysia. Going forward, we will continue to seize the opportunities for developing existing and new business channels and expanding our retail network in all the regions where we operate, while being cautious and keeping a close watch on any and all changes as and when they occur in the market,” she says.

    Same-store sales growth in Hong Kong and Macau was 2.8 per cent, and as a result of gold product promotions and an expanded product assortment, the average amount per invoice rose by 5.6 per cent.

    Tse Sui Luen took advantage of a general downward trend in store rental rates to improve rental cost effectiveness. It expanded the size of its stores at Times Square in Causeway Bay and Plaza Hollywood in Diamond Hill and opened a new store in MCP Central (Phase II) in Tseung Kwan O.

    Self-operated Tse Sui Luen store growth continued to be a key driver of the group’s Mainland China business, accounting for 36.6 per cent of its turnover during the year. Twelve new self-operated stores and 43 new franchised stores were opened on the mainland, expanding the network from 380 to 435.

    “We will keep on expanding our retail network in Mainland China with the intention of opening an additional 100 new stores over the coming two years,” said Yau.

    In Malaysia, turnover was stable the jeweller opened one new store, at Genting, taking its network there to five.

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  • Countdown partners with UK tech startup to tackle dietary requirements

    Countdown partners with UK tech startup to tackle dietary requirements

    Countdown-owner Woolworths Group has partnered with UK tech startup Spoon Guru to add new filtering options to its online shopping experience, allowing customers with food allergies or dietary and lifestyle restrictions to sort its products based on their needs.

    According to Woolworths general manager of digital experience Ananth Sarathy, the group is the first in New Zealand and Australia to partner with the startup.

    “The platform will blend our in-house digital and data capabilities with Spoon Guru’s world-leading machine learning and AI to derive rich and detailed product attributes for our customers,” Sarathy said.

    “It’s early days but the initial response from customers using the filters have been positive, with many shoppers using the feature to build lists to shop in-store as well as online.”

    The dietary indexing was rolled out initially in May, with up to 30,000 products now filterable based on consumer needs, such as gluten free, low fat, vegan and vegetarian.

    Spoon Guru aims to help consumers all over the world struggling to manage diets based due to health, lifestyle, and religious reasons.

    “The technology provides an innovative solution to a world-wide pain-point,” Spoon Guru co-founder and co-chief executive Markus Stripf said.

    “Sixty-four per cent of the world’s population is on some form of exclusion diet and whether this is due to allergy, intolerance or health and lifestyle choices, the demand for a more personalised approach to food shopping is clear.”

    Using proprietary tagging technology, Spoon Guru combines AI and algorithms with human expertise, indexing products based on certain values, making them more accessible and searchable on digital storefronts.

    Spoon Guru has partnered with other international retailers, such as Tesco, Jet and Albert Heijn, but Woolworths Group is its first partner in Australia and New Zealand.

    Spoon Guru’s partnership with Tesco began in November 2017, and has changed the way its consumers interact with its online channel – with certain search terms increasing in popularity, and some search terms seeing up to a 500 per cent increase in conversion.

    “It’s incredibly rewarding to have the opportunity to help millions of consumers around the world to find the right foods for their personal needs,” Stripf said.

    “Jet, Albert Heijn and Woolworths are all forward-thinking brands that share the same passion as Spoon Guru, making them the perfect partners for our business as we grow into a global solution.”

  • Dark mode starts showing up in Gmail for Android

    Dark mode starts showing up in Gmail for Android

    Gmail is one of the not so many Google apps that hasn’t yet received a proper dark mode. Meanwhile, Drive, Keep and Google’s app have all received the highly-anticipated dark theme so that everyone can enjoy it.

    Well, it looks like Google is working hard to make Gmail users happy as well. The long overdue dark mode is starting to show up in Gmail for Android. Unfortunately, it’s not yet correctly implemented and lacks a toggle that would allow users to disable or enable it.

    The dark mode seems to be available in settings only for the time being and pops up randomly whenever it wants. This is more of an indication that Google is close to nailing it down rather than an official release, but it’s what we have at the moment to keep you hyped.

    Gmail is probably one of the most popular Google apps for Android devices, so it’s kind of a bummer that the Mountain View company didn’t think that it should implement a dark theme yet, while other less used apps have been treated with a dark mode a long time ago.

    Apparently, the dark mode appears in Gmail v2019.06.09, so if you have this specific version installed on your Android smartphone, you might sporadically enjoy the new implementation of dark mode, at least until a full-fledged version will be released.

  • Japanese tax-free store operator Laox Expanding in China

    Japanese tax-free store operator Laox Expanding in China

    Japanese tax-free store operator Laox plans to raise US$94 million to expand its activities in China and boost its e-commerce footprint.

    The company will issue shares to Granda Galaxy (a wholly-owned subsidiary of Suning Appliance Group), and Global Worker (a wholly-owned subsidiary of Chuben Sangyo).

    Once the funds are in the bank, Laox will further increase its investment in the Chinese market and expand its e-commerce business worldwide. Since entering the Chinese market in 2011, Laox has introduced high-quality Japanese goods and services to China through Suning’s online and offline platforms and its Tmall flagship store. In the future, Laox aims to become one of the largest suppliers of “Made-in-Japan” goods to better serve more Chinese local consumers, and plans to promote more quality products and consumption experience to other countries and regions through the Belt and Road Initiative.

    Suning believes Laox will further strengthen its close cooperation with the company in overseas purchase, commodity procurement, marketing and logistics services, thus increasing the Suning’s international influence and attracting more customers who are looking for better-quality goods.

    By the end of last year, Laox had 38 retail stores in the Japanese market, which had attracted nearly 2.5 million shop visitors in the year and achieved annual sales of about $1.12 billion.

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  • City Chain parent records another loss

    City Chain parent records another loss

    Same-store sales by watch retailer City Chain improved last year – but parent Stelux Holdings still recorded a loss of HK$34.6 million (US$4.4 million).

    That deficit would have been a lot higher but for the one-off gain of $111.8 million ($15.2 million) from the sale of the company’s optical business in June last year. The company says without the gain, and various other one-off adjustments, the company would have lost $117.5 million ($15 million). However, both figures were lower than the previous year’s loss of $123.7 million. On the positive side, inventory fell 16.6 per cent to $559.8 million ($71.7 million) as of March 31.

    Group turnover for the last financial year was down 3.4 per cent to $1.458 billion ($186.8 million).

    The City Chain Group operates around 220 stores in Hong Kong, Macau, Mainland China, Singapore, Thailand and Malaysia together with on-line stores under the City Chain and Solvil et

    Titus brands. It also has exclusive rights to the Seiko and Grand Seiko watch brands in Hong Kong, Singapore and Malaysia.

    Stelux International sold its Optical 88, Egg and Thong Sia Optical businesses last year for $400 million ($51.2 million). The purchaser was an entity controlled by Stelux CEO and chairman Joseph CC Wong, also known as Chumphol Kanjanapas.

    Wong said the company achieved same-store sales growth and profit in the first half of the financial year thanks to a refresh of the City Chain branding and house brand portfolio, store closures and cost reductions. However this was undermined in the second half as the trade dispute between China and the US intensified, Renminbi remained weak, tourist and domestic spending in regions where the company operates slowed down and consumer sentiment took a dive.

    For the full year, City Chain’s turnover fell 5 per cent to $1.167 billion ($149.5 million) as its store network reduced by 13 per cent.

    Turnover at City Chain’s Greater China business fell by 6.5 per cent, with a 19 per cent reduction in store numbers. Pre-tax loss there grew from $53 million ($6.8 million) last year to $98.9 million ($12.7 million) this year.

    “Despite the challenging operating environments in the second half, year-on-year same-store sales in Hong Kong and Macau remained stable,” said Wong. Operating costs fell by 9.8 per cent.

    Despite a generally weaker market environment, City Chain’s operations in Southeast Asia reported an increase in sales per shop of 8.9 per cent, with turnover remaining relatively stable, despite a 5.4 per cent reduction in the store network. However currency depreciation against a strong Hong Kong dollar say pre-tax earnings down from $4.2 million ($538,000) last year to just $800,000 ($102,000) this year. Excluding exchange losses the result was $3.4 million .

    Wholesale division turnover (including Seiko) grew 3.5 per cent to $291.2 million ($37.3 million) and together with improved operational efficiencies contributed to a profit of $40.1 million, a substantial improvement on the previous year’s loss of $4.6 million.

    Wong says that while uncertainties surround the completion of a trade deal between China and the US, retail sentiment is likely to remain subdued for the remainder of the 2020 year.

    “Refreshment of stores will continue and capital expenditures will be prudently managed.

    However, as part of the group’s long-term strategy to improve its competitiveness to adapt to changes in the consumer landscape, the group has prioritised investment in infrastructure and brand development to enhance customer interaction through omni channels so as to improve synergies between the online and offline businesses of the City Chain Group.”

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  • AirAsia X looking to expand into Europe

    AirAsia X looking to expand into Europe

    AirAsia X is looking into expanding its market and does not discount the possibility of re-entering the European market.

    Chairman Tan Sri Rafidah Aziz said, before the company makes any decision, it needs to consider various factors including the operational costs and the projected revenue

    “We must also look at the total picture whether it can meet the challenges such the changes in oil prices, the various taxes in Europe airports and so on.

    “For example, the planes that were flying to London and Paris previously was not the right plane. The cost factor was the one that literally killed us from the market. Moving forward, we have to be realistic in making our decisions for

    the long term,” she told reporters after the unveiling of its new A330neo aircraft at the 53rd International Paris Air Show here.

    Rafidah said with the new planes which use more efficient engines, it would give added flexibility to the company to strategise and give better returns to its shareholders.

    On when the aircraft would be in operation, she said it would be decided by the board of directors based on the proposal by the management.

    Meanwhile, AirAsia X group chief executive officer, Nadda Buranasiri said the delivery of the A330neo aircraft would be in phases.

    “We expect that Airbus would probably be able to provide us six aircraft a year,” he said.

    The world’s leading low-cost carrier ordered a total of 100 A330-900 aircraft for RM122 billion from European planemaker Airbus, of which 66 aircraft are firmed orders and two on lease.

    Buranasiri said it would take the first aircraft next month while the second aircraft would be delivered in August, to be based in its Thailand hub, Don Mueang International Airport in Bangkok.

    “We have not decided where the new fleet would fly to as we are still studying each market to understand the demand and how we could leverage it.

    “We are working it out to ensure that it will be profitable to us, while at the same time, make our shareholders and passengers happy.

    “We are not making excessive profits but it needs to have enough volumes,” he added.

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  • Amazon Music coming to Comcast’s Xfinity X1 and Flex services

    Amazon Music coming to Comcast’s Xfinity X1 and Flex services

    Comcast has just confirmed it has come to an agreement with Amazon for the distribution of its music streaming service through its Xfinity X1 set-top box. The move is not a total surprise considering Comcast added Amazon Prime Video to the X1 series early this year.

    Amazon Music will be rolled out to Xfinity X1 in the coming weeks and will be available for free to Prime members. The service provides access to more than 2 million songs and thousands of playlists and stations. However, for on-demand access to over 50 million songs and even more playlists and stations through the Amazon Music Unlimited, you’ll have to pay $9.99 per month.

    Amazon Music has fierce competition on Xfinity X1, as other streaming music services like YouTube Music, Pandora, and iHeartRadio have been available on the platform for quite a while. Surprisingly, Spotify and Apple Music, some of the most popular services are missing from Comcast’s offering for the moment.

    The deal between the two companies mentions that Amazon Music will also be available through Comcast’s Flex service, which costs $5 per month per set-top box. In order to access Amazon Music on Comcast’s Xfinity X1 and Flex, simply say “Amazon Music” into the voice remote and you’ll soon be able to browse and listen to your favorite songs.

    Keep in mind though that you absolutely must own an Amazon Prime or Amazon Music Unlimited subscription to access the app on the Xfinity X1 set-top box. You’ll also have to pair your Amazon Music account regardless of whether or not you’re logged in to the Prime Video app on X1.

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  • NRL’s winning partnership with AirAsia takes off

    NRL’s winning partnership with AirAsia takes off

    In the lead up to Game II of the 2019 Holden State of Origin Series, the National Rugby League (NRL) and AirAsia have announced an exciting new brand partnership, including the opportunity for Origin fans to win return flights to Asia.

    As part of the partnership, AirAsia, which was this week announced the World’s Best Low-Cost Airline at the Skytrax World Airline Awards 2019 in Paris, France, will also give away VIP tickets to each Origin match.

    AirAsia X Malaysia CEO Benyamin Ismail said the Holden State Of Origin Series is a perfect opportunity to connect with rugby league fans and tell the AirAsia story in front of a highly engaged and passionate audience.

    “We continue to increase our brand presence in Australia and today offer more than 50 flights into Southeast Asia per week,” he said.

    “With Origin being hosted in three of our key Australian ports – Brisbane, Sydney and Perth – we see this as a great opportunity to ensure Australian rugby league fans know that they can touch down in over 140 destinations across our extensive network.

    “The timing of today’s announcement couldn’t be better for those looking to grab a deal with the AirAsia BIG Sale now on at airasia.com.”

    The stadium giveaway at each match will take place at halftime. Two lucky people can also score VIP tickets to each Origin match by liking @AirAsiaAustralia on Facebook and entering the competition – simply guess the destination, say why you’d like to go there in 25 words or less and be in to win.

    The partnership will also be seen across multiple channels including broadcast, signage, the NRL’s Official Instagram account, co-created video content featuring key NRL legends and other onsite activations at each match.

    NRL chief executive Todd Greenberg welcomed AirAsia’s campaign and their addition as part of the Holden State of Origin platform.

    “We look forward to working with AirAsia into the future in extending their brand via our key channels and portfolios.”

    Game II of Holden State Of Origin kicks off on 23 June 2019 at Perth Stadium with the final game of the series culminating in Sydney on 10 July 2019.

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  • AirAsia crowned world’s best Airline again

    AirAsia crowned world’s best Airline again

    AirAsia has been named the World’s Best Low-Cost Airline at the Skytrax World Airline Awards 2019 for the 11th consecutive year.

    The airline won the title based on a survey of over 21.6 million passengers of 100 nationalities and over 300 airlines between September last year and May.

    AirAsia also won Asia’s Best Low-Cost Airline award and the World’s Best Low-Cost Airline Premium Cabin award for its premium flatbed on widebody long-haul AirAsia X aircraft.

    The prestigious Skytrax World Airline Awards are considered the global benchmark of airline excellence.

    AirAsia Group Berhad executive chairman Datuk Kamarudin Meranun and AirAsia X Berhad chairman Tan Sri Rafidah Aziz were among those who accepted the awards at the Paris International Air Show yesterday.

    Kamarudin said it was an honour for the airline to be recognised for its commitment to provide “affordable travel and guest-obsessed service”.

    “The fact that these awards are based on direct feedback is a gratifying and wonderful recognition for the Allstars who put so much effort and commitment into service excellence for our guests,” he said, referring to AirAsia employees.

    Rafidah also expressed her appreciation for the airline’s employees for AirAsia’s win in the World’s Best Low-Cost Carrier Premium Cabin category.

    “(This year’s) win represents nine years of being the world’s best in this category, and is dedicated to our Allstars who have been steadfast in upholding our corporate culture, mission and vision,” she said.

    She added that AirAsia X will introduce the new Airbus A330neo, an aircraft which will bring even greater inflight comfort to passengers.

    “Combined with our renowned inflight service as a long-haul low-cost carrier, AirAsia X will strive to continue to offer excellent value for money to our guests to 30 destinations in 10 markets across the AirAsia Group long-haul network,” she said.

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  • YouTube and Universal Music clean up Adam Levine, Lady Gaga and other artists

    YouTube and Universal Music clean up Adam Levine, Lady Gaga and other artists

    If you were worried that your kids and their kids will never get to enjoy the music video for the late Tom Petty’s “Free Fallin’” in high quality, you can now stop thinking about that and concentrate on more important matters. Google announced yesterday on the YouTube blog that it is teaming up with Universal Music Group to remaster and upgrade some of the most iconic music videos of all time. This includes the 30-year-old Tom Petty video.

    According to Google, 100 videos have already been remastered and now offer the highest quality audio and video. Artists in this group include Billy Idol, Beastie Boys, Boyz II Men, George Strait, Janet Jackson, Kiss, Lady Antebellum, Lady Gaga, Lionel Richie, Maroon 5, Meat Loaf, No Doubt/Gwen Stefani, Smokey Robinson, The Killers, and the aforementioned Tom Petty. Every week over the next year, more videos will be worked on until a total of 1,000 music videos are “painstakingly” remastered to the highest possible standards. The work will be complete by sometime next year.

    You’ll know which videos have been upgraded because they will have a “Remastered” label in the description and will shift from SD (standard definition) to HD. Besides “Free Fallin’” some of the other videos that have already been upgraded include the music videos for the Beastie Boys’ “Sabotage” and Lady Gaga’s “Bad Romance.” Believe it or not, it has been 25 years and 10 years respectively since those two videos were first released.

    “It’s really an honor to partner with Universal Music Group and change the way fans around the globe will experience viewing some of the most classic and iconic videos. The quality is truly stunning. It’s our goal to ensure that today’s music videos — true works of art — meet the high-quality standards that artists’ works deserve and today’s music fans expect. For years, some of the greatest music videos in YouTube’s catalog have been available only in the outdated standards originally intended for tube televisions with mono speakers. With this new initiative, we’re upgrading videos, vastly improving the viewing experience, whether on mobile, desktop or living room screens. The new videos will seamlessly replace the original versions on both YouTube and within YouTube Music, while retaining the same url, view-counts and ‘likes.’-Stephen Bryan, Global Head of Label Relations, YouTube.

    Google compares these music videos to “priceless paintings or sculptures in museums” noting that even museum quality art needs some TLC every now and then.

  • Courts Announces Group CEO Terry O’Connor’s Transition To Executive Advisor

    Courts Announces Group CEO Terry O’Connor’s Transition To Executive Advisor

    COURTS Asia Limited today announced that Terry O’Connor, Group CEO, will transition into an Executive Advisor role with effect from 1 July 2019 and has resigned from the Board. With the acquisition of COURTS Asia Limited by Nojima Corporation now completed, Terry expressed his desire to relinquish operational responsibilities and support the Group in an advisory capacity. As Executive Advisor, Terry will provide oversight on stakeholder relationship management and the ongoing integration process to the Company.

    Under Terry’s 20 years of leadership, COURTS has undertaken a strategic transformation journey towards solutions selling, omni-channel retailing, driving market leadership in electrical, IT and furniture categories, transforming offline stores into experience centres for consumers as well as expanded into Malaysia and Indonesia.

    Terry O’Connor said, “I am privileged to have led a wonderful team at COURTS in Singapore, then Asia, through a period of transformation and growth. We have achieved many milestones together and I feel extremely proud of leading such a talented team. Having facilitated the ownership change for COURTS from COURTS Plc in 2004 to private equity owners and now to Nojima Corporation, a long-term strategic investor, it is an opportune time for me to transition into a different role with the Company.”

    The COURTS Asia Board expressed their utmost gratitude to Terry for building COURTS into a leading household name and his support in the integration process. The Group is in advanced stages of the hiring process for a new Group CEO.

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