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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.

  • Retail bankruptcies dent Li & Fung turnover

    Retail bankruptcies dent Li & Fung turnover

    Retail bankruptcies and destocking impacted Li & Fung turnover during the first half of this year, but the world’s largest supply-chain solutions provider returned to profit.

    On a like-for-like basis, turnover decreased 8.4 per cent to US$5.356 million as brands and retailers continued to face pressure on sales and margins. However, those factors were offset by growing market share for some of Li & Fung’s key customers and new customer wins.

    Core operating profit decreased 18.6 per cent to US$105 million due to a decrease in turnover and total margin in the Supply Chain Solutions business, and continued investment in digitalisation in line with the company’s long-term plan.

    However, profit attributable to shareholders swung back to positive, at US$21 million compared with a loss in the same period last year of US$86 million.

    “We are facing increasing geo-economic instability and uncertainty,” said group chairman William Fung. “Regardless of other factors, the acceleration of the migration of production out of China will continue given China’s upgrading of its industrial base from a manufacturing exporter to a high-technology service provider.”

    Fung said the company has experienced constant fluctuation in global trade over its long history and the current challenge was not entirely new.

    “That is why we continued to maintain a well-diversified sourcing network spanning more than 50 economies and avoided over-reliance on any single market, even when the environment appeared benign. This continues to be the right approach. Our ability to leverage this extensive network puts Li & Fung in the best position to help our customers optimise their sourcing and production and minimise tariff impact. The proliferation of bilateral free trade agreements has become the new norm, and this presents Li & Fung with opportunities not seen for the past 20 years.”

    Spencer Fung, group CEO of Li & Fung, said the company’s new management team has been focused on restructuring the company and all operational KPIs are now improving for both customers and suppliers.

    “We are starting to gain momentum and winning market share and new customers due to our operational excellence, global diversified network and 3D virtual-design services. As a result, turnover decline is stabilising and beginning to bottom out.”

    The new management team has been focused on accelerating the company’s turnaround and digital transformation, a strategy already producing positive results, he said.

    The digitalisation transformation has continued to make significant progress with more customers approaching Li & Fung for digital services and assistance in integrating digital product development into their work processes. The company is helping brands and retailers “take their own digital leap” into digital design and development, digital planning and assortment, and digital selling.

    Meanwhile, the logistics business continued its profitable growth momentum in the first six months of this year. In-country logistics services had strong top-line and bottom-line double-digit growth, the company said.

    China continued to lead the way, supported by an upsurge of domestic consumption, especially via e-commerce for which LF Logistics enjoyed first-mover advantage due to its early investment in e-logistics. Accelerated development in LF Logistics’ Asean operations contributed to high growth rates and the new markets of South Korea, Japan and India recorded “impressive results”.

    During the half year, Singapore’s Temasek completed a US$300 million investment to take a 21.7-per-cent stake in LF Logistics, valuing the business at $1.4 billion.

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  • AirAsia eyes flights to Guam by 2020

    AirAsia eyes flights to Guam by 2020

    AirAsia Philippines is planning flights to Guam by 2020 as rival budget airline Cebu Pacific pulls out.

    AirAsia Philippines’ newly appointed CEO Ricardo Islas said the airline would seek a permit to fly to the United States territory once it had secured regulatory approval to be designated an official carrier to the United States.

    “Upon receipt of designation, AirAsia will be ready to apply for an operating permit to operate flights specifically to Guam,” Isla said in a text message.

    “With a fleet of 24 Airbus A320 aircraft, AirAsia is capable of launching flights as soon as permits are ready,” he added.

    AirAsia Philippines earlier filed a petition before the Civil Aeronautics Board (CAB) for designation and allocation of entitlements to the United States currently held by Air Philippines, an affiliate of Philippine Airlines. A CAB hearing on the matter has been set on Sept. 10 this year.

    “We are hopeful the Civil Aeronautics Board will grant our petition,” Isla said.

    Guam, about three and a half hours away from the Philippines, has a population of more than 160,000 people—a quarter of which are Filipinos. This made it attractive for Cebu Pacific, which launched flights between Manila and Guam on March 2016.

    “It was a good market but it’s more of us concentrating efforts on North Asia and Southeast Asia,” Cebu Pacific vice president Alexander Lao said in a recent interview. Lao said the carrier would end Manila-to-Guam flights by Dec. 8 this year.

    AirAsia Philippines earlier announced plans to aggressively expand its fleet and add more destinations. Cebu Pacific, the country’s biggest budget airline, is also on expansion mode.

    Cebu Pacific expects to receive more than 60 aircraft in the next eight years. This will include new orders from the Paris Air Show in June for 31 new planes, comprised of 16 Airbus A330neos, 10 A321XLRs, and five A320neos. The new aircraft has a list price of $6.8 billion.

  • CDF Beauty duty-free megastore opens at Citygate

    CDF Beauty duty-free megastore opens at Citygate

    A CDF Beauty duty-free megastore has opened in Hong Kong’s Citygate Phase II.

    Spanning more than 10,000sqft, CDF Beauty houses 45 beauty brands, including cosmetics, skincare products and beauty appliances. Citygate is located near Hong Kong International Airport.

    The CDF Beauty concept store is a merging of two adjacent stores with an open facade presenting international skincare and cosmetics. Its Colour cosmetics store invites shoppers to try makeup products among its showcase of top designer and make-up artist brands, including the latest seasonal palettes and textures from Giorgio Armani, Tom Ford Beauty and Mac with fragrances by Jo Malone London and Burberry.

    Central to the CDF Beauty duty-free megastore’s strategy is its Best Price Offer, a collection of leading beauty brands selected for discount on a monthly basis.

    Promotions for the store feature the CDF Beauty Bestie Gang – Carol, Donna, Frank and Bella – virtual brand ambassadors created with distinct personalities and favourite makeup styles.

    The store’s opening is being celebrated with a range of privileges and deals.

  • New stores openings deliver Lovisa good sales

    New stores openings deliver Lovisa good sales

    Lovisa managing director Shane Fallscheer told investors on Thursday he was pleased to deliver a “solid result” for FY19 in one of the more difficult trading environments the fashion jewelry retailer has experienced in recent times.

    Revenue was up 15.3 percent year on year to $250.3 million, thanks to the addition of 64 new stores in FY19. The retailer’s total store count as at June 30, 2019 was 390.

    Same-store sales, however, were down 0.5 percent on the previous corresponding. Fallscheer attributed the weak result to softer trading conditions in the first half of FY19, especially in Australia, and the lack of major trends in the fashion jewelry space, which have helped drive strong same-store sales growth in the past.

    He also noted that Lovisa “overperformed” in FY18 – especially in the first half, when same-store sales increased 7.4 percent – which made it harder to deliver comparable sales growth in FY19.

    The retailer reported an increase of 50 basis points in gross margin to 80.5 percent, thanks to higher USD hedge rates and its focus on inventory management and promotional effectiveness. Gross profit increased by 16 percent to $201.4 million.

    The hiring of several senior executives, the relocation of Lovisa’s third-party logistics hub from Hong Kong to China, the launch of e-commerce capabilities in Australia and New Zealand and continued store rollouts in new territories, however, drove up to the cost of doing business as a percentage of sales.

    The retailer reported a 2.8 percent increase in earnings before interest and tax to $52.5 million and a 3 percent increase in net profit after tax to $37 million.

    Lovisa finished the year with a cash balance of $11.2 million and a strong balance sheet, Chris Lauder, Lovisa’s CFO told investors.

    Looking ahead, the key driver of growth for Lovisa is the continued expansion of stores around the world.

    The retailer currently has 404 stores (it has opened 14 so far in FY20) in around a dozen countries, including Australia, New Zealand, Singapore, Malaysia South Africa, the UK, Spain, France, the US, the Middle East and Vietnam.

    Lovisa’s biggest market is Australia, where it has 154 stores, followed by South Africa with 61 and the UK with 38, but growth is accelerating in the US, Fallscheer said, where it currently operates 28 stores in California, Texas, Florida and Illinois.

    “The eventual size and timing of the store rollout [in the US] will depend on being able to deliver quality stores that meet criteria rather than a [specific] number target,” Fallscheer told investors.

    He noted that Lovisa is beginning to gain traction with US landlords, and that it is targeting “small wins” to offset the higher cost of doing business and currency headwinds in the market, including minimizing markdowns and looking at the price.

    “We constantly review each market, each style and how all of that interacts with each other. We’re constantly looking at the price…as we mature in the US market, there are probably some slight wins there,” Fallscheer said.

    But he admitted, “there’s going to be a gap between price increase and currency decline”.

    Same-store sales growth in FY20 so far is within the retailer’s target range of 3 to 5 percent, Fallscheer said. He attributed this to price gains and increased volumes.

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  • Bath & Body Works delivers big sales numbers for L Brands

    Bath & Body Works delivers big sales numbers for L Brands

    As usual, the latest results from L Brands show a tale of two companies: Bath & Body Works put in a blistering performance of 8 per cent comparable growth, while Victoria’s Secret posted a highly negative drop of 6 per cent in comparable terms.

    Combined, this pushed total comparable sales for the group down by 1 per cent for the second quarter.

    The results from Victoria’s Secret are particularly disappointing, especially as the company has been actively improving ranges and trying to inject more fashion into its product mix. However, this does not necessarily indicate the company is on the wrong track. Among existing customers of Victoria’s Secret, the changes have been well received, but some shoppers are still drifting away from the brand, which has yet to win back much of the trade that it has lost over the past few years.

    Such a win-back will only come with time and more of an effort to recast the brand image of the firm. Fortunately, management appears to have now started to understand this – hence its hesitancy on initiatives such as the annual Fashion Show. That said, the lack of clarity about whether not the show will go ahead underlines the fact that Victoria’s Secret still doesn’t have a clear view as to what it actually wants to stand for, let alone how it will go about executing such a change.

    Until such clarity emerges, the performance of Victoria’s Secret will continue to suffer. The brand is still not connecting and resonating with large swathes of its target market. Indeed, Victoria’s Secret continues to be tarred with the negative connotations that surround its overt sexuality and its focus on airbrushed glamour.

    Standing in marked contrast to Victoria’s Secret is Bath & Body Works. The company’s wholesome brand image and its focus on small indulgences is paying real dividends.

    One of the main strengths of the chain is its range development, where seasonal lines and takes on hot trends like aromatherapy are driving repeat visits from consumers as well as lifting basket sizes. The integration of the White Barn concept in some refurbished stores is also proving to be successful and there is clearly much more potential for Bath & Body Works to develop its home scents and candles business.

    From GlobalData’s customer data it is also clear that Bath & Body Works is popular due to the value for money it offers. Many items feel premium but are sold at reasonable price points, something that generates loyalty and bulk purchasing. On top of this, regular promotions also help to drive volumes through the business.

    Ultimately, success at Bath & Body Works stems from the fact that the team is much more attuned to the market and consumer trends than is the case at Victoria’s Secret. The cultures at the two divisions could not be more different: Victoria’s Secret should take a leaf out of its sister brand’s playbook as it looks to reinvent itself.

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  • KrisShop marks rebranding by taking to the ground

    KrisShop marks rebranding by taking to the ground

    Singapore Airlines’ inflight and online travel retail store KrisShop has revamped its brand and launched a new website.

    To mark the launch, KrisShop is curating a pop-up exhibition in downtown Singapore, divided into several experiential zones, each showcasing a different retail feature of the new site. KrisShop.com now sports a cleaner look with a new interface that includes more intuitive features for swift and smooth navigation.

    KrisShop has also introduced multiple initiatives for convenient payment and pre-order and delivery services, aiming to provide personalised experiences to suit the varying lifestyles of customers. It is targeting both travellers and non-travellers.

    “Over the years, the travel retail industry has experienced a radical disruption driven by digitalisation,” read a statement from the firm on the rebranding. “KrisShop seeks to embrace a holistic omnichannel approach to deliver an integrated shopping experience that engages its customers at every step of the journey – both online and offline.

    “Advancing beyond a retail catalogue, KrisShop.com aims to re-invent itself as the go-to lifestyle e-commerce website that caters to the needs of all shoppers, whether they are travelling or not.”

    In the coming months, the firm will progressively roll out the site’s new features, including multiple payment options, pre-ordering up to 60 minutes before flight, hotel delivery, in-flight entertainment, and self-collection at PopStations.

    “Beyond being a retail e-commerce site, KrisShop seeks to establish itself as a one-stop shopping destination, and is continually evolving to meet the needs and demands of today’s consumers,” said KrisShop CEO Chris Pok. “Leveraging our expertise in retail, we are proud to unveil the new Krisshop.com that aims to modernise the consumer shopping journey.”

    The KrisShop popup is located at Raffles Hotel’s Palm Ballroom, and will be open to the public from August 23 to 24.

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  • Miniso signs six new partnerships to fuel expansion

    Miniso signs six new partnerships to fuel expansion

    Chinese discount merchandise chain Miniso has signed cooperation agreements with partners from six new countries and regions – the UK, France, Maldives, Reunion Island, Aruba and Curacao.

    Miniso now operates in more than 90 countries and regions, taking it closer to its target of opening “10,000 stores in 100 countries with 100 billion sales volume” by 2022.

    Miniso has been moving into the European market since last year, opening physical stores in Spain, Germany and Ireland.

    In overseas markets, Miniso has adopted a differentiation strategy with its products, setting up an international commodity department to develop diversified international products ranging from food to kitchen supplies, travel supplies, perfume, dolls, toys and makeup lines.

    The firm also set up a “Europe pavilion” in the exhibition area at its recently held Miniso 2020 Global Spring and Summer New Product Ordering Fair. Nearly 1000 SKUs more in line with European consumption habits and design aesthetics have been developed by the commodity centre team for the European market over the past six months.

    Miniso says it aims to simultaneously promote the upgrading of branding, products and stores across all its markets.

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  • Tumi set fire to Samsonite’s Asian growth

    Tumi set fire to Samsonite’s Asian growth

    High-performing travel lifestyle Tumi drove Samsonite Asia sales in the first half of this year, compensating for an unusual decline in the core Samsonite brand’s business regionally.

    For the six months to June 30, net sales of the Tumi brand increased by 11.9 per cent in Asia, as the brand continued to make inroads in key markets across the region. Net sales of the Samsonite brand decreased by 1.3 per cent year-on-year, primarily due to challenging trading conditions in China and South Korea, while net sales of the American Tourister brand fell by 3 per cent.

    Samsonite Asia achieved a 4.8 per cent net sales gain in Japan and 9.2 per cent in India. The group continued to experience challenging market conditions in South Korea, where net sales decreased by 8.7 per cent. Excluding net sales in South Korea and B2B sales in China, Samsonite Asia recorded a net sales increase of 4.6 per cent during the first half.

    Globally, Samsonite had a tough half, impacted by increased tariffs on products imported from China and sold in the US and lower tourist traffic. First-half adjusted net income fell 12.8 per cent year on year to $97 million on sales of $1.756 billion, down 5 per cent.

    CEO Kyle Gendreau said the company’s fortunes improved in the second quarter with most markets showing signs of stability.

    In China, wholesale turnover reduced as the group continued to pursue a direct-to-consumer business model through its own stores and online. Net sales in China increased by 5.1 per cent year-on-year, (and by 11.2 per cent excluding B2B) in the second quarter, compared to an 8.3-per-cent decline in the first quarter.

    Gendreau said the global outlook remains uncertain entering the second half of the year, with US-China trade tensions rising, Brexit still unresolved, economic growth slowing in parts of the EU, the recent events in Hong Kong, and a general increase in political volatility and economic uncertainty impacting consumer sentiment worldwide.

    “Considering these ongoing challenges, we will continue to invest in the business to position ourselves for long-term growth while maintaining our focus on controlling costs, managing working capital, generating cash and strengthening the balance sheet.

    “We will continue to diversify our sourcing base and to renegotiate pricing with vendors to address the recent US tariff increases. In addition, we intend to temporarily reduce advertising spend for the second half of the year to help offset the pressure on our profitability caused by current headwinds.”

    The advertising scale back will spare the fast-growing Tumi brand and direct-to-consumer e-commerce initiatives.

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  • Google Hangouts transition for G Suite gets delayed until 2020

    Google Hangouts transition for G Suite gets delayed until 2020

    Google confirmed back in December that it will replace Hangouts with Chat and Meet, and announced that the transition will start in October 2019. However, the search giant revealed that the transition for G Suite has been postponed and that the new deadline is June 2020.

    According to Google, the decision to delay the move is based on the feedback received from many Hangouts users, who apparently need more time to migrate their organizations from classic Hangouts to the new Hangouts Chat.

    That being said, Google has officially postponed the final transition date to no sooner than June 2020, which means that it could happen later, but definitely not sooner. In the meantime, Google will continue to improve the transition experience of classic Hangouts group conversations, and add new Chat features like Read receipts.

    In case you need a more definitive date, Google said that it will provide advance notice once it figures out when it’s the right time to start the final transition of classic Hangouts to Hangouts Chat.

    Also, for those who want to migrate sooner, Google has already kicked off the Accelerated Transition Program, so simply request an invitation and the classic Hangouts will be disabled and you’ll be migrated to Hangouts Chat.

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  • Microsoft brings its SMS Organizer app to the US

    Microsoft brings its SMS Organizer app to the US

    The SMS Organizer app is one of the many projects that took shape under Microsoft Garage’s umbrella, but it’s only been available in India since release. Starting this week, Microsoft has expanded the availability of SMS Organizer to more countries, including the US, UK, and Australia.

    As the name suggests, SMS Organizer will sort all your incoming text messages into categories. Microsoft’s app is a bit more advanced when it comes to sorting text messages, as it uses machine learning to filter them into categories like personal, transaction, and promotional.

    But the app goes even further and prevents promotional messages from popping up on your phone’s screen. While you will find these on the promotional tab, you also have the option to automatically delete these messages every few days or weeks.

    On the other hand, whenever you receive text messages related to trains, flights or payments, SMS Organizer will notify you every time and even helps you keep track of your account balance. More importantly, you can use SMS Organizer to backup and restore chats to and from Google Drive.

    Unfortunately, SMS Organizer does not feature support for multimedia messaging (MMS), so it’s limited to standard text messages. If you want to use the app, which is available for download via Google Play Store, you must register using your phone number.

  • Google thinking to remove the ability to message directly on YouTube

    Google thinking to remove the ability to message directly on YouTube

    Google has confirmed it will kill off another of its obsolete chat service – YouTube messages. The decision is probably related to the fact that not many people are using the ability to message directly on YouTube.

    Although it’s a relatively old feature having been launched back in 2017 after one year of testing, Messages on YouTube will no longer be available after September 18. The announcement mentions that since the feature was launched two years ago, YouTube focused on public conversations with updates to comments, posts, and stories.

    Unfortunately, that was not enough to convince users to take advantage of the feature as often as YouTube would’ve wanted. After re-evaluating its priorities, Google has decided to discontinue the messaging option hidden inside YouTube and start focusing on improving public conversations instead.

    Even though the ability to direct message on YouTube will no longer be available after September 18, you will still be able to share YouTube videos by heading to the video watch page, clicking Share, and then tapping the “social network icon” from which you want to share a video.

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  • Samsung has responses for Android users to send to green bubble haters

    Samsung has responses for Android users to send to green bubble haters

    Apple iPhone, iPad, Apple Watch and even Mac users know that when they are using the Messages app to communicate with others using the Apple ecosystem, they are sending and receiving iMessages. This is signified by the blue bubble that the conversations are housed in. And iMessages are encrypted from end-to-end.
    But when someone using an Apple device sees their conversation in a green bubble it means that the person on the other side of the chat is probably using an Android device. The green bubble means that the conversation is being handled as a SMS or a text message. Besides the lack of encryption, the special features offered for those chatting via iMessage (such as Animoji) cannot be used. And that doesn’t sit well with many iPhone, iPad, Apple Watch or Mac users.
    If you use an Android device and are sick and tired of getting scolded by your Apple wielding buddies in the middle of a group or individual chat simply because they can’t use iMessage, Samsung has your back. The manufacturer has created a GIPHY page containing more than 30 GIFs that you can use to send back a salvo after taking a hit from a green bubble hater.
    Perhaps one day in the future, people won’t be discriminated against simply because they create a green text bubble instead of a blue one on a device screen. Would Apple ever offer iMessage to Android users? We wouldn’t hold our breathe.
  • AirAsia India to start direct Delhi-Chennai flight from September

    AirAsia India to start direct Delhi-Chennai flight from September

    Budget carrier AirAsia announced a new direct Delhi to Chennai flight. The new flight will be introduced from September 2019. The sale of tickets will begin on 20 September. The tickets can be booked through airasia.com or the AirAsia mobile app.

    “The new daily direct flight between Chennai and New Delhi will help boost our operations in Chennai. We have also increased the frequency between Chennai and various other destinations like Bangalore, Hyderabad and Kolkata,” the airline said in a statement.

    AirAsia will also operate a third daily flight between New Delhi and Kolkata.

    The Bengaluru-headquartered airline is also set to launch additional flights on New Delhi-Kolkata route from 20 September.

    The airline has also increased the frequency and introduced a fourth service on the Delhi-Bengaluru route.

    AirAsia India currently flies to 19 destinations with a fleet of 22 aircraft.

    Air Asia India, which started operations in June 2014, is a joint venture between Tata and AirAsia Berhad. It currently operates 164 flights a day, covering 19 destinations and carrying over 25,000 passengers.

    The budget carrier has already started daily direct flight on the Delhi-Chandigarh route from 1 August onwards. The launch fare on Delhi-Chandigarh route is ₹1,365, the airline mentioned. The flight would leave from Delhi at 10.40 am every day and would reach Chandigarh at 11.50 am.

    The return flight would depart from Chandigarh every day at 12.50 pm and arrive at the Delhi airport at 1.55 pm, the low-cost carrier said.

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  • Kaufland acquires third Queensland site

    Kaufland acquires third Queensland site

    Kaufland Australia is pressing forward with its Australian expansion with the acquisition of its third Queensland site, in a location that may concern local players.

    On Wednesday, the German retail giant confirmed that it has taken ownership of Morayfield Village Retail Centre at 177-189 Morayfield Road, a suburb of Moreton Bay Region in north Brisbane.

    The property listing on the Commercial Real Estate website indicates that the center is next to Morayfield Regional Shopping Centre, which houses major market players including Coles, Woolworths, Target, Kmart and Big W, with an Aldi store and two additional Woolworths supermarkets also situated in the precinct.

    The 16,690sq m site, described as “a well-established, modern, single-level retail center”, includes a 6,939sq m building which is more than enough for a Kaufland supermarket, which generally occupies a total store area of 4,000 square meters.

    Earlier this month Kaufland announced that it was making its first foray into the Toowoomba region in southern Queensland, along with the purchase of a site at Burleigh Heads on the Gold Coast.

    A spokesperson for the retailer said that it is planning to explore further opportunities in the area.

    “We are committed to long term, sustainable investment in Queensland, and we are delighted to be looking at all sites and opportunities that are available, ” a Kaufland spokeswoman said

    “We look forward to continuing to work together with Moreton Bay Regional Council and all key stakeholders with the goal to deliver high quality, great service, and amazing value to the wider region.”

    Kaufland has advised that its supermarkets will be stocked with local, regional and international products at discount pricing, with each store including a bakery, butcher and liquor areas.

    In March, Kaufland Australia received planning approval for its first three stores in Victoria at Chirnside Park, Dandenong, and Epping as well as its Melbourne headquarters and Australia’s largest distribution center to be located at Mickleham.

    The following month, the retailer was granted development approval to build its first South Australian store in Prospect, an inner northern suburb of greater Adelaide.

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  • Lego announces very first Victorian store

    Lego announces very first Victorian store

    The first Lego store in Victoria will be in Westfield Doncaster, according to local rights-holder Alceon Group.

    The announcement follows the opening of Lego stores in New South Wales, as well as the news that more stores will be opened across Queensland and New Zealand in 2019 – with South Australia and Western Australia in 2020.

    “Victoria is home to one of the country’s largest Lego fan communities and, as a result, a strategic priority of our growth,” Alceon Group executive director Richard Facioni said.

    “We look forward to unveiling a truly world-class retail experience at Westfield Doncaster, as the first of a number of Lego certified stores planned for Melbourne.”

    Facioni said recently that the introduction of further stores in key locations would accelerate the reach of the retail concept, and build on the iconic Lego brand.

    Alceon Group is an investment firm that is one of the biggest retail companies in Australia, following its acquisition of Specialty Fashion Group’s Katies, Millers, Autograph, Crossroads and Millers brands, James Packer’s Pretty Girl Fashion group and Pumpkin Patch.

    The company also has a controlling stake in Noni B and recently acquired a stake in ethical fashion brand Ginger & Smart.