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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.

  • Waitrose café replaces China cups and plates with paper crockery

    Waitrose café replaces China cups and plates with paper crockery

    Waitrose customers have furious to boycott a store over its plan to ditch china plates and replace them with paper crockery. Clients of a branch of the general store in Chichester, West Sussex, have apparently complained to administration in what has been named the most middle class row ever.

    As though that wasn’t sufficiently horrifying, the branch additionally picked to swap out its couches for wooden seats.

    The issues all started when the bistro moved from inside the Waitrose grocery store to the adjacent building, which previously housed a Costa espresso.

    Because of reasons of convenience, the café started to serve its hot beverages in paper glasses and replaced its “shocking” couches with simple to-clean plastic seats.

    A cafe staff part said that a dishwasher would need to be introduced at the new site before china mugs could be used.

    A Waitrose representative said: ‘The criticism of our clients is importent to us and the remarks we have gotten will shape any future arrangement.’

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  • Will *Scape 2.0 be youth haven at last?

    Will *Scape 2.0 be youth haven at last?

    *Scape, a youth hangout which opened next to Orchard Cineleisure just six years ago, has been given a $2.5 million makeover.

    After completing the revamp late last year, it now offers facilities such as a 100-seater indoor gallery to host film screenings, recitals and talks. It also has an outdoor stage with seating areas for music and other performances, and a walkway to showcase street performances and wall art.

    A new hub where media groups can gather to hotdesk or run events is also ready. The Singapore Film Society and media community group Project Unsung Heroes have started using the space.

    Events slated for this month include open mike sessions at the outdoor bandstand this Saturday, and an interactive play that explores mental disorders at the media hub the following weekend.

    Plans for the makeover of the five-storey hub and outdoor space, which also houses shops and restaurants, were first announced in 2014 by the Ministry of Culture, Community and Youth (MCCY).

    “*Scape, conceived by youth 10 years ago and opened in 2010, is a popular youth hangout,” said then MCCY Minister Lawrence Wong of the hub run by a non-profit organisation of the same name. “But the youth landscape has evolved over the years and we need to keep up with the changes,” he added.

    While *Scape has seen footfall pick up by 8 to 10 per cent a year, its average monthly footfall of 492,000 is lower than that at other malls, which can be over a million.

    *Scape also offers affordable retail spaces to encourage young entrepreneurs. And interest groups also use the space for sports, performing and visual arts, and projects.

    The mall has 70 youth start-ups, 73 institutional and commercial tenants and seven interest groups.

    While *Scape’s focus has been on developing young people in areas such as music, media and dance, its executive director, Christopher Pragasam, said last year it plans to move towards providing them with more platforms for volunteerism.

    For instance, it has a workshop this month to help youth understand the strengths of different communities and use these resources to create projects for social good.

    Some observers say it has had limited success because of its lack of focus. “It suffers from an identity crisis and is trying to do everything at once, from retail to entrepreneurship to arts and media to community service,” said Mr Delane Lim, chief executive of Agape Group Holdings, a youth training and development consultancy.

    He said spaces elsewhere, such as the Youth Square in Hong Kong and Youth Hub in South Africa, are more of a hit because they are commercially run by youth entrepreneurs: “They do get government funding but when they run the place themselves, they bring in fresh ideas and have more say in shaping the space for their peers.”

    *Scape is overseen by MCCY and its team reports to a board of directors made up of government representatives and leaders from the private and public sectors. There was a change in some board members in October last year.

    Ms Elim Chew, founder of fashion chain 77th Street and a former director on the board, said: “With the new board and expertise, I am sure they will bring in even more relevant programmes.”

    Student Magdalene Low, 18, who hangs out at *Scape with her friends once a week during school holidays, said: “There is some good food there but the shops are not very attractive… It offers the space dancers need to practise but, overall, with all the new shopping malls next door, it’s becoming dull and needs to keep up.”

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  • Garuda Indonesia to set up new company for non-core units

    Garuda Indonesia to set up new company for non-core units

    Garuda Indonesia (GA, Jakarta Soekarno-Hatta) is planning to establish a new holding company to contain subsidiaries that do not contribute to its core business.

    Airline president Arif Wibowo told the Asia Nikkei newspaper that the plan has already secured shareholder approval – including that from the Ministry of Transportation – with a proposal set to be submitted to the Ministry of State Enterprises in the middle of the year.

    “We hope this will increase the company’s leverage, as each business unit will have clearer management and they can develop more specific focuses,” he said.

    Garuda currently operates five subsidiaries including: budget carrier Citilink (QG, Surabaya); PT Aero Wisata which deals with travel, hotel, transportation and catering services; PT Abacus Distribution Systems Indonesia which handles GDS services; PT Garuda Maintenance Facility Aero Asia (GMFAA) which deals with aircraft MRO; and PT Aero Systems Indonesia which is an IT solutions provider.

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  • Starwood Hotels & Resorts to Debut Ultra-Luxury St. Regis Brand in Jakarta

    Starwood Hotels & Resorts to Debut Ultra-Luxury St. Regis Brand in Jakarta

    Starwood Hotels & Resorts Worldwide announced today that the company has reached a management agreement with Rajawali Property Group to open The St. Regis Jakarta and The Residences at The St. Regis Jakarta. Centrally located on Jalan H.R. Rasuna Said, Kuninganin in South Jakarta, the hotel and residences will be part of a new mixed-use development, which will also feature a commercial office tower that will serve as the headquarters of Rajawali Property Group. Slated to open in 2019, The St. Regis Jakarta and The Residences at The St. Regis Jakarta are poised to become the premium address for well-heeled travelers and residents.

    “The St. Regis Jakarta and The Residences at The St. Regis Jakarta are a great testament to the growing wealth and appetite for luxury in Indonesia’s capital,” said Stephen Ho, President, Starwood Hotels & Resorts Asia Pacific. “We are delighted to foster our relationship with Rajawali Property Group by bringing the St. Regis brand’s bespoke service, contemporary design and refined elegance to the ever-bustling city of Jakarta.”

    Shirley Tan, CEO of Rajawali Property Group, added, “Jakarta currently features some upscale residences that are located above or next to hotels, but few offer the heights of refinement tied to the St. Regis name. Today’s signing with Starwood is part of Rajawali’s greater residential strategy to develop a collection of truly branded residences with unique ownership privileges in Southeast Asia, including The Residences at The St. Regis Langkawi in 2016 and The Residences at The St. Regis Jakarta in 2019.”

    The St. Regis Jakarta will offer 280 luxuriously-appointed guestrooms and suites, all bearing elements of the brand’s rich heritage infused with modern inspiration. The hotel will feature four distinctive restaurants, including an all-day dining venue, a fine dining restaurant, The Deli, and the signature St. Regis bar. For meetings and events, the hotel will offer expansive function space that spans 3,600 square meters. Guests will also be able to indulge in world-class leisure facilities, including a spa with six treatment rooms, a fitness center and a swimming pool. To further enhance the guest experience, The St. Regis Jakarta will provide signature St. Regis Butler Service, offering guests 24-hour anticipatory service that customizes each stay to specific needs, tastes and preferences, allowing guests to savor the rarest luxuries of all time.

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    Following the success of the residences at St. Regis hotels in Singapore and Bangkok, and the soon-to-open St. Regis Kuala Lumpur, The Residences at The St. Regis Jakarta will set new standards for luxury living in Jakarta. Located in a separate tower adjacent to the hotel, the 164 branded residences will offer homeowners and investors refined luxury and privacy, with each home expressing a sense of intimacy, grandeur and panoramic views of the vast city skyline.

    The Residences at The St. Regis Jakarta will feature three types of apartments: a 3-bedroom Sky Residence occupying 355 to 373 square meters; the Sky Villa, a 750 square meter, 4-bedroom unit; and the Sky Palace, featuring over 1,250 square meters. Residents will enjoy exclusive concierge service, a multi-function room and wine room, private garden pool, private dining and library lounge, fitness center and dedicated car parking space. Residence owners will also be able to enjoy the renowned St. Regis services at their doorstep, including St. Regis Butler Service, as well as access the hotel’s fitness and dining facilities.

    “Starwood is pleased to expand its portfolio of St. Regis residences in Asia Pacific, as we see strong continued growth opportunities in this area,” said Rajit Sukumaran, Senior Vice President, Acquisition & Development, Starwood Hotels & Resorts, Asia Pacific. “The Residences at The St. Regis Jakarta will cater to the lifestyle needs of the increasingly affluent and appeal to luxury property investors, while remaining deeply rooted in St. Regis’ distinctive legacy of uncompromising elegance and the ability to provide the finest experiences imaginable.”

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    The announcement further strengthens the partnership between Starwood and Rajawali Property Group, which currently owns eight Starwood properties, with a total of more than 1,500 rooms throughout Malaysia and Indonesia. This distinguished portfolio includes The St. Regis Bali Resort and the all-suite St. Regis Langkawi Resort. The latter is on track to open in April 2016, as part of an integrated complex comprising The Westin Langkawi Resort & Spa and the ultra-modern Langkawi International Convention Centre (LICC), both owned by Rajawali Property Group.

    Starwood currently operates 18 hotels in Indonesia, five of which are located in Jakarta. The company is accelerating its growth in the country and is on track to open 13 additional hotels in the next three years. In addition to The St. Regis Jakarta, Starwood’s pipeline also includes Aloft hotels in Kebon Jeruk and Wahid Haysyim, The Westin Jakarta and W Jakarta.

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  • Indonesia studying Trans-Pacific Partnership Agreement

    Indonesia studying Trans-Pacific Partnership Agreement

    Indonesia is studying 6,000 pages of the Trans-Pacific Partnership Agreement to see possible impacts on domestic industries if it finally decides to join it.

    “There are 30 sub-sectors involved in the 6,000 page agreement that have to be studied one by one,” Director General of Resilience and International Industrial Access Development of the Ministry of Industry, Achmad Sigit Deiwahjono, said here Thursday.

    The focus of the study was not put on the policy of domestic content (TKDN) which is not allowed in the agreement, he said.

    The government hoped the TKDN would not be abolished if Indonesia later joins the TPP, he said.

    He would negotiate so that the TKDN would remain, but the portion would be divided for the interest of the TPP, he said.

    “Indonesia wishes it (TKDN) would be exempted, for example, by allowing the TKDN to some value of the project,” he said.

    He did not know when the study would be finished, and he also did not know if Indonesia would finally join it or not, Sigit said.

    “We will still study it. It is not yet finished,” he added.

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  • Indonesia’s growth in 2015 slows for fifth consecutive year

    Indonesia’s growth in 2015 slows for fifth consecutive year

    Growth in South East Asia’s largest economy, Indonesia, has come in at 4.76% for 2015, marking the fifth consecutive yearly decline. Weaker commodity prices and consumer spending, together with a slowdown in its key trading partner, China, has hurt growth. Towards the end of last year, however, the economy expanded by just over 5%, boosted by government spending. President Joko Widodo had promised to lift annual growth to 7% on average.

    However, the country has seen an average of just under 6% growth over the past decade and analysts have said growth is unlikely to improve for some time.

    “The fourth quarter data is a positive surprise,” economist Tony Nash told.

    “But unfortunately the uptick will likely be short lived. We expect deterioration in the first quarter and it’ll be tough to regain growth momentum before 2017,” he added.

    Mr Widodo made his promise to raise growth when his five-year term began in 2014, but he has faced problems boosting government spending and has seen several large infrastructure projects delayed.

    A $5.5bn high-speed railway project, funded by China, was signed last year and is scheduled to be up and running by 2019.

    But the project has faced widespread objections from transport experts and its long-term viability has been questioned.

    Mr Widodo has also faced international condemnation for the country’s man-made forest fires, which have caused serious economic and environmental damage.

    In December, the World Bank said Indonesia’s forest fires last year had likely cost the country more than twice the amount spent on reconstruction efforts after the 2004 Aceh tsunami.

    In its quarterly report, the bank said the fires had cost some 221tn Indonesian rupiah ($15.72bn; £10.5bn).

    It added that regional and global costs would be much higher.

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  • Malaysia, Indonesia & Thailand to shore up rubber price

    Malaysia, Indonesia & Thailand to shore up rubber price

    Asia’s top rubber producers have agreed to cut exports by 615,000 tonnes for six months from March, moving to lift prices that have tumbled to their lowest since the global financial crisis amid excess supply.

    Benchmark rubber futures in Singapore and Japan rallied 2-3% on the news. The benchmarks sank in January to their lowest levels since end-2008 to early 2009.

    Thailand, Indonesia and Malaysia, which produce nearly 70% of the world’s natural rubber, said in a joint statement that the move was to address a decline in rubber prices which has had “a direct effect on the income of rubber smallholders in our three countries.”

    Thailand will cut exports by 324,000 tonnes, Indonesia by 238,740 tonnes and Malaysia by 52,260 tonnes, according to a statement from the International Tripartite Rubber Council (ITRC), which groups the three producers.

    The total cuts account for nearly 6% of global natural rubber output.

    “The three countries’ ministers believe that cutting exports and boosting domestic use of rubber will drive up prices and fix the price slump, making prices fair for rubber farmers,” Thailand’s agriculture ministry said in a statement.

    Previous efforts by major rubber producers to cut exports or output have only had a fleeting impact on prices amid a slowdown in top rubber importer China. In 2014, the ITRC members also agreed to cut exports to curb excess supply.

    Before that, they collectively cut shipments by 300,000 tonnes in 2012-13, or roughly 3% of 2012 global output. The intervention only briefly supported prices and Indonesia called for the pact to be discontinued.

    Besides cutting exports, the three countries today also agreed to increase domestic consumption of rubber – including for road and railway construction.

    “We are optimistic with joint implementation of these measures, rubber price will recover and continue to be fair and remunerative to all smallholders and other stakeholders in the natural rubber industry,” the ITRC said in the statement.

    Thailand, the world’s top rubber producer and exporter, will cut its rubber exports by 50% starting March, said the Rubber Authority of Thailand.

    “The three countries will cooperate in cutting exports by 615,000 tonnes from March to August,” said Chao Songarvut, acting director of the Rubber Authority of Thailand, adding that the move was to drive up prices.

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  • Suitors for Casino’s Asia assets will have to face off against Thai tycoons

    Suitors for Casino’s Asia assets will have to face off against Thai tycoons

    French retail group Casino’s sale of its Thai and Vietnam units has drawn the eye of Singapore’s Dairy Farm International Holdings and South Korea’s Lotte Shopping but they’ll need punchy bids to go up against deep-pocketed Thai tycoons, bankers said.

    The auction represents a rare opportunity for cashed-up Asian companies to expand into what analysts say are two of Southeast Asia’s most profitable retail markets, but they also warn there is a risk of overpaying, particularly in Thailand where the economy is slowing.

    Central Group, Thailand’s biggest retailer led by tycoon Tos Chirathivat, has pole position as it already owns a quarter of Big C Supercenter Pcl, the nation’s second-largest discount retailer which it founded in 1993.

    Central has said it is keen to buy Casino’s 58.6 percent stake in Thailand’s Big C, worth around $3.1 billion at current market prices, and Casino’s wholly owned unit, Big C Vietnam, which bankers have valued at between $800 million and $1 billion.

    “Whoever is going to buy this will have to pay a high price to get Central out or they will have to co-exist,” said a banking source familiar with the matter.

    A separate banking source said Casino was keen to sell both units to the same bidder.

    In addition to Dairy Farm and Lotte Shopping discussing potential bids with banks, Japanese retail conglomerate Aeon Co Ltd (8267.T) is weighing an offer, the sources said but added it was unlikely to bid aggressively.

    The sources declined to be identified as they were not authorized to speak about the matter.

    Dairy Farm, the second-biggest retailer in Singapore and Hong Kong, and Lotte Shopping, South Korea’s largest department store operator declined to comment. Aeon and Casino also declined to comment.

    The bidder seen most likely to give Central Group a run for its money is Thai business magnate Charoen Sirivadhanabhakdi, who is keen to expand further in retail.

    Berli Jucker Public Co, the listed retail arm of Charoen’s TCC group, has said it is interested in Casino’s Vietnam unit and bankers also expect TCC to make an offer for the Thai unit.

    Asked whether TCC would bid for the Thai business, Charoen told Reuters in Bangkok on Wednesday: “Not yet, we haven’t done anything. We need to have a look first.”

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    The first source said that to outbid Central for the Thai asset, other suitors would likely have to pay 270 baht per share, a 14 percent premium to Thursday’s close that would value Casino’s stake at $3.6 billion.

    Bangkok-based AEC Securities said in a note to clients it expects bidders to pay 238-298 baht per share. Thailand’s Big C shares have jumped as much as 17 percent since Casino said on Jan. 15 it has received expressions of interest..

    Casino’s surprise plans to sell the Thai unit came after a December report by short-seller Muddy Waters that said the French firm was “dangerously leveraged”, prompting its worst stock slide in seven years. The Vietnam unit sale had been planned beforehand.

    Preliminary bids for the Thai unit, which had 734 stores including 125 hypermarkets at the end of 2015, are due on Feb. 5. Bids for the Vietnam unit are due in late February, one source said.

    Thailand’s retail market is worth $93 billion annually, according to research firm Euromonitor. The sector trades at a price-to-earnings ratio of 24, the highest in Southeast Asia, and is no stranger to rich deals.

    In 2013, CP All, backed by Thailand’s richest man Dhanin Chearavanont, bought cash-and-carry wholesaler Siam Makro for $6.6 billion, valuing it at 53 times earnings in Asia’s most expensive consumer sector deal by multiple.

  • Hong Kong sales slump as mainland shoppers stay home

    Hong Kong sales slump as mainland shoppers stay home

    Hong Kong retail sales posted a second straight annual decline despite sharp discounting, the Census and Statistics Department said, reflecting a sustained decrease in visitors from mainland China and the diminished buying power of a weaker yuan.

    Retail sales fell 3.7 percent to HKD475 billion (USD61 billion) last year, while volume dropped 0.3 percent. In December, when the tourism board counted nearly 11 percent fewer visitors, retail sales value fell 8.5 percent from a year earlier, worse than the 4.3 percent drop projected by analysts. The slump widened from 7.8 percent in November and was the largest since last January.

    Sales of jewelry, watches, clocks and valuable gifts were among the hardest hit, slumping 17 percent in December and 16 percent for the full year. Clothing and department store sales also declined. Erwan Rambourg, a retail analyst at HSBC Holdings Plc in Hong Kong, said high-­end watch and jewelry sellers suffered as shoppers from mainland China avoided lavish purchases and falling currencies in other Asian nations reduced prices for goods bought elsewhere.
    Hong Kong Tourism Board Executive Director Anthony Lau said late last month that same-day visitors to Hong Kong were “a bit weaker” than the same time last year, portending an inauspicious start to the Chinese New Year holiday next week.

    The Lunar New Year celebration is a peak season for tourism in Hong Kong, bringing in more than 5 million monthly visitors compared with about 4.5 million in an average month. Day trips before the holiday usually account for more than half those visits.
    Visits from the mainland fell 16 percent in December from a year earlier, the tourism board said last week. Total visits to Hong Kong fell 2.5 percent last year to 59.3 million.

    Hong Kong retail sales are down on an annualized basis every month from March through December, according to data compiled by Bloomberg Intelligence. The Hong Kong dollar has strengthened against the yuan, making it more expensive for mainlanders to shop.

    Chow Tai Fook Jewellery Group, the world’s largest listed jewelry chain, said last month that sales during Chinese New Year would be challenging. Emperor Watch & Jewellery Ltd blamed a preliminary 2015 loss on a drop in foot traffic caused by the strong Hong Kong dollar, high rental pressure in the city and austerity initiatives in mainland China.

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  • DFASS delight at Hong Kong Airlines ISPY2016 award

    DFASS delight at Hong Kong Airlines ISPY2016 award

    Duty Free Air & Ship Supply (DFASS) has praised the efforts of partner carrier Hong Kong Airlines which won the coveted Airline of the Year prize at the recent Inflight Sales Person of the Year event. The 2016 year’s version of the event, consisting of 72 cabin crew, took place at the Radisson Blu Edwardian Hotel, Heathrow airport.

    In order to be considered for the Airline of the Year prize, participants had to demonstrate their commitment to creating and developing crew sales culture over the past year. This was achieved by sharing their top three initiatives which delivered the biggest return on investment. Two initiatives had to be crew related alongside one other.

    Each airline was given 30 minutes to present at the airline management workshop on January 25 followed by a panel discussion and questions from the audience. Management attending the workshop received one vote per company for the winner.

    Jointly presented by Hong Kong Airlines head of ancillary revenue Pacino Qin and DFASS director sales and marketing Sandra Ng Chaffey, the presentation initially focused on the development of the core sales team to strengthen crew sales culture. The team introduced cross-airline competition on the airline’s dedicated Facebook page to enable experience sharing and cultural exchange. A sales achievement dinner and brand specific training were also introduced.

    In addition, a brand ambassador programme was born with support of 14 brands including Chloe, Gucci, Jill Stuart, Lifetrons, Marc Jacobs, no!no!, Paco Rabanne , Philip Stein, Prada, Salvatore Ferragamo, SK-II, Talika, Valentino and Veld’s. The programme allows brands to train their top sellers with specific knowledge and selling skills and on the provision of product samples onboard.

    DFASS deputy chairman and president Asia/Pacific John Garner said: “This was a challenging field with many worthwhile competitors. The Hong Kong Airlines crew were recognised for their skills and determination, but the most important part of the award was the way it recognises the partnership between the airline, and DFASS as its concessionaire. They are an amazing business partner.”Despite the deflection of the Chinese yuan at close to 7% in 2015, the Hong Kong Airlines and DFASS team ended the year with a strong 12% surge.

    Oscar Cheng and Minerva Tam from Hong Kong Airlines also won silver medal in the Product Merchandising Team Award category.

    Hong Kong Airlines director of service delivery Stanley Kan said: “Last time, Hong Kong Airlines was the only legacy carrier in Asia among the top-four finalists for the Airline of the Year Award. This year, we are thrilled to be crowned Airline of the Year.

    “Partnering with inflight retail concessionaire DFASS, Hong Kong Airlines has achieved significant improvement in inflight duty-free sales services with the launch of innovative initiatives such as professional training and introduction of the Brand Ambassador scheme.”

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  • Mumbai has highest potential for modern retail in India

    Mumbai has highest potential for modern retail in India

    Mumbai Metropolitan Metro has the highest potential for modern retail in the country at Rs 1.05 lakh crore, followed by Delhi-National Capital Region, which has total potential of Rs 77,900 crore, according to Knight Frank & Retailers Association of India’s ‘Think India. Think Retail. 2016’ report.

    Bengaluru is third in the list, with potential of Rs 48,600 crore.

    As part of the city-level analysis, the report has identified zone level supply-demand gap for apparel, F&B, entertainment and grocery across India’s top markets.

    It says the penetration of modern retail is set to increase from the current 13.5% to 50% by 2036 in Mumbai, from 26% to 50% by 2028 in NCR and from 24% to 50% in 2026 in Bengaluru.

    While the market potential of daily needs supermarkets and hypermarkets is pegged at Rs 58,800 crore in Mumbai and Rs 51,200 crore in NCR, it stands at Rs 24,300 crore in Bengaluru.

    The report says that modern retail penetration in India is extremely low at 19% compared to US, Singapore and China, where the figures are 84%, 71% and 63% respectively.

    According to the report, 69% of the total retail spending comes from Mumbai Metropolitan Region, NCR and Bengaluru out of the top seven cities in the country.

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  • Korea retail sales slide

    Korea retail sales slide

    Korea retail sales took a surprise turn for the worst in December after three consecutive months of solid growth.

    Reported sales by department stores run by Hyundai Department Store, Lotte Shopping and Shinsegae Co show a 5.7 per cent fall year-on-year, according to figures released by the the Ministry of Trade, Industry and Energy on Tuesday.

    For the whole 2015 year, department store sales fell a modest 1.2 per cent, mainly due to the outbreak of Mers mid-year, and a rise in online shopping.

    The government attributed the December fall to warmer weather compared with the previous year, which may prompt one to speculate on January’s figures given the unusual cold snap hitting the country this month. The warmer climate meant fewer sales of winter clothing.

    Sales of luxury watches, jewellery and household electronics also fell.

    The December fall was the largest monthly year-on-year drop since 6.5 per cent last August. Sales rose by 1 per cent in November.

    Sales at South Korea’s major discount department stores fell 5.1 per cent, the third consecutive monthly decline and the largest since August.

    For the whole of 2015, discount department store sales fell 2.1 per cent.

    The Ministry said discounters’ December performance was affected by the warm weather and softening demand for food products.

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  • 50 year Valentine’s Day pledge

    50 year Valentine’s Day pledge

    In a bizarre retail initiative, Gift Flowers Hong Kong is willing to plan the next 50 Valentine’s Days in advance for everyone.

    The Hong Kong online florist says it will deliver roses to their loved ones “for the rest of their lives, even when they are not around”.

    “Each year, they will receive roses ordered from deceased loved ones. It will serve as a reminder of the love that has not died, even after all this time has passed.”

    The service comes at a price – all paid in advance, of course: Ranging between $10,000 (for a single rose each year) and $100,000 (for a dozen).

    Gift Flowers HK describes the initiative as a first for Hong Kong, saying it gives peace of mind to customers who want to ensure their loved ones receive flowers each year for the rest of their lives.

    “Just like the movie ‘P.S. I Love You’, romantics will be able to send personalised messages to their lovers for ‘almost’ forever,” the company explains.

    “True romantics will find comfort in Gift Flowers HK’s new service. Even for those who cannot spend Valentine’s Day with their significant other, Gift Flowers HK will allow those romantics to make an impression that shows the absent be present in spirit.

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  • Indonesia to ease foreign ownership rules in e-commerce, retail & power but with curbs

    Indonesia to ease foreign ownership rules in e-commerce, retail & power but with curbs

    Indonesia is planning to open up some of the hottest sectors – retail, e-commerce and power – to increased foreign ownership but with a lot of caps.

    In a bid to enhance investments, Indonesia is planning to relax ownership rules in the retail sector even though foreign players will still not be allowed to hold majority stakes.

    According to the head of Indonesia investment board (BKPM) Franky Sibarani, the government will also allow foreign investors to fully own e-commerce businesses provided their investment value is beyond Rp 10 billion ($726,745). Investments below Rp 10 billion in startups or SMEs (small-medium enterprises) is prohibited.

    “The purpose of this policy is to protect our SMEs,” Sibarani said.

    The caps placed on minimum investments could limit inflows of foreign venture capital firms, who typically invest seed stage funding in the sub-million dollar stage in startups.

    Even in retail, the government is keen to open up only the large retail operations, especially outlets with land size above 2,000 sq metres. Foreign ownership in retail, that operate in the below 2,000 square meters (sqm) area, remain closed.

    The proposed rules will be included in the upcoming foreign negative investment list (DNI), scheduled to be issued in March this year.

    Tackling another sector requiring huge capital, Indonesia will allow full foreign ownership in geothermal power plants of more than 10 megawatt (MW), and 67 per cent for smaller power plants.

    Sibarani said, the government plans to partly open foreign direct investment in electricity transmission business, an area which was previously closed.

    Foreign ownership in companies developing high-voltage (HV) and ultra-high voltage (UHV) grid will be partly opened up to 49 per cent from zero per cent foreign investment, while low to medium voltage grid remains closed for foreign investment.

    Investment commitment in January

    Investment commitment in Indonesia reached Rp206 trillion ($15.04 billion), up 119 per cent in January compared to the same month last year.

    “This shows that investors’ confidence remains high and investment climate is still conducive despite slowdown in the world economy,” BKPM Chairman Franky Sibarani said at a press conference. Given the positive trend, he expects this year’s realized investment target of Rp545.4 trillion will be achievable.

    Majority of the direct investment commitments came from foreign investors (FDI), amounting to Rp168 trillion, while the remaining Rp38 trillion were domestic investments, representing an increase of 261 per cent and 101 per cent respectively.

    The largest investment commitment came from Singapore amounting to $7.5 billion, followed by China $2.8 billion, South Korea $280 million, Japan $132 million and Malaysia $105 million.

  • Hong Kong Airlines wins international acclaim awarded Airline of the Year at ISPY2016

    Hong Kong Airlines wins international acclaim awarded Airline of the Year at ISPY2016

    The spectacular ISPY Gala Awards is a core part of the ISPY programme originated in 1999, an annual four-day event for all inflight retail stakeholders groups.At the ISPY (Inflight Sales Person of the Year) 2016 Gala Awards ceremony held in London, full-service airline Hong Kong Airlines won the much-coveted Airline of the Year Award. The airline’s cabin crew Mr Oscar Cheng and Ms Minerva Tam were awarded silver medals in the category of Product Merchandising Team Award, as well as recognized as the World’s Greatest Selling Cabin Crew 2016.
    The spectacular ISPY Gala Awards is a core part of the ISPY programme originated in 1999, an annual four-day event for all inflight retail stakeholders groups. Before the announcement of the winners, each of the Airline of the Year finalists is required to have an hour-long workshop including a 30-minute presentation followed by a panel discussion and questions from the audience, while the cabin crew are trained and assessed to compete for team and individual awards. This year, 28 world-class airlines including Cathay Pacific, Dragonair, Singapore Airlines, Virgin Atlantic and Air Canada participated in the event to compete for the awards.

    Mr Stanley Kan, Director of Service Delivery of Hong Kong Airlines, said, “Last time, Hong Kong Airlines was the only legacy carrier in Asia amongst the top 4 finalists for Airline of the Year Award, while this year, we are thrilled to be crowned as Airline of the Year – a remarkable progress indeed. Partnering with inflight retail concessionaire DFASS, Hong Kong Airlines has achieved significant improvement in inflight duty free sales services with the launch of innovative initiatives such as professional training and the introduction of the Brand Ambassador Scheme.”

    Aside from the ISPY award, in recent years Hong Kong Airlines garnered a bunch of international acclaims including Asia’s Leading Inflight Service 2015 at the internationally renowned World Travel Awards in October 2015. The airline has been rated as the 4-star airline since 2011 by international specialist research consultant Skytrax. Hong Kong Airlines also won Skytrax World’s Most Improved Airline in 2014, and enlisted the top 10 World’s Best Regional Airline for the first time in 2015.