Retail News CRM

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.

  • Uber-hip Dover Street Market to open in Singapore’s Dempsey

    Uber-hip Dover Street Market to open in Singapore’s Dempsey

    The facade of Dover Street Market’s China outpost called IT Beijing Market. Dover Street Market is poised to open its first outlet in Southeast Asia in the hip Singapore neighbourhood of Dempsey. The edgy fashion retail and concept store conceived by Comme des Garçons’ Rei Kawakubo will be part of a new retail and F&B development by COMO Lifestyle.

    The Singapore branch will join an existing line-up of stores in London, Tokyo, New York and Beijing.

    Citing COMO Lifestyle’s bid, CNA added that the new concept will be known as “COMO Dempsey.”

    The facade of Dover Street Market’s China outpost called IT Beijing Market. — Picture via DoverStreetMarket.com

    It will integrate Dover Street Market with several F&B outlets, including a Jean-Georges Vongerichten restaurant and bar, new restaurant concept COMO Cuisine and local Peranakan restaurant Candlenut.

    No other details, such as projected opening date, were available at time of writing. COMO Lifestyle is part of Christina Ong’s luxury portfolio whose interests range from hotels to fashion. The Singapore businesswoman and her Malaysian-born husband Ong Beng Seng are valued at US$1.8 billion (RM7.7 billion) as of July 2014.

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  • PTT firms up local expansion program

    PTT firms up local expansion program

    PTT Philippines, a unit of PTT Public Co. Ltd. of Thailand, plans to invest P3 billion in the next five years to expand the company’s network here.

    The capital expenditure program includes investments in retail stations, oil depots and terminals in Luzon and Visayas.

    “In the next five years, PTT appropriated P3 billion for expansion plan, for laying down on infra,” general manager Danilo Alabado told reporters.

    PTT Philippines currently has 94 stations and plans to put up a total of 300 by 2020.

    “Right now we have the trading areas in Luzon and Cebu. In order for us to achieve our goal to be one of the top five oil companies in the next five years, we will expand into other trading areas, other islands,” Alabado said.

    He said the company needed the support of a stronger infrastructure network  for its expansion program.

    “We need depot, fuel terminal that could come in in Visayas and Mindanao which we have been looking at,” the official said.

    PTT president and chief executive Sukanya Seriyothin cited a strong growth projected growth in Luzon for the company’s planned expansion.

    “Visayas and Mindanao we still have to further expand. We’re still moving forward in Luzon, but aside from that, we move further in Visayas, Mindanao,” Sukanya said.

    Alabado, meanwhile, said the company performed “fairly well” in 2015 with sales volume likely to increase 5 percent to 6 percent.

    “We are confident we are going to meet our target,” Alabado said, adding revenues may reach P1.1 billion this year.

    “We are looking at 5 to 6 percent growth next year until 2017 because we are going to lay down our infra support for expansion for 2018 going into 2020, we are looking at growth of 60 percent compared to what we had in 2015,” he said.

    PTT Thailand is Thailand’s biggest oil player and ranked number 81 under Fortune 500’s List of world’s largest companies.

    The company, controlled by the Thai government, is engaged in downstream and upstream petroleum, natural gas, coal, and other related businesses.

    PTT Public Co. Ltd. of Thailand, the parent of PTT Philippines, earlier said it planned to increase the revenue share of its overseas retail oil business to 20 percent in the next five years.

    PTT Thailand vice president for international marketing Wisarn Chawalitanon noted that the share of the overseas retail oil business to the company’s revenues was still small.

    PTT Thailand, which owns around 1,200 to 1,300 retail stations in Thailand, is banking on its overseas presence in the Philippines and other countries to help propel the company’s growth.

    Wisarn said the Philippines remained PTT Thailand’s priority market.

    “The Philippines is the biggest operation that we have in other Asean countries. Our revenue in the Philippines is more than 20 billion baht [P26 billion] compared with the other countries which have around 5 billion baht [P6.5 billion]. That’s why we pay attention to the Philippines,” the official said.

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  • HKIA celebrates Xmas with shopping rewards

    HKIA celebrates Xmas with shopping rewards

    Hong Kong International Airport (HKIA)is marking the Christmas run-up with series of festive special offers and promotions, including cash coupon redemptions up to HK$5,200 ($671) alongside more than 2,000 surprise gifts for travellers.

    The new promotion begins this Thursday (17 December) with travellers spending more than HK$2,000 ($258) by electronic payments qualifying for redemption coupons. HKIA adds that passengers using their UnionPay cards stand to reap even more rewards.

    HKIA Xmas od=ffers Dec 2015

    A ‘glamorous gift-themed exhibition’ will also be featured on Level 6 of the Departures East Hall allowing travellers to experience the spirit of Christmas, while prompting them with gifting ideas.

    Various music performances will also take place here and there will also be miniature installations on display showing how different countries around the world celebrate Christmas.

    Xmas at Hong Kong Dec 2015
    Travellers spending over HK$1,000 ($129) in a single transaction at HKIA can also enjoy free local delivery service. Free delivery service to Mainland China, Macau and Taiwan is also offered to travellers who spend over HK$2,500 ($322) on clothing, bags and accessories in a single transaction.

    At the same time, HKIA is partnering with its retailers to provide travellers with shopping and dining offers. More details are available at: https://www.hongkongairport.com/eng/shopping/special-offers.html

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  • A New Air Jordan Store Has Just Opened Up In Hong Kong

    A New Air Jordan Store Has Just Opened Up In Hong Kong

    Jordan Brand has already shown us that they have huge plans of going international with their upcoming retail store in Toronto. So does that mean they’ll stop there? Nope.

    The Jumpman is making its presence felt all around the world with their latest power move coming in Hong Kong. In the pictures above you can see the new Jordan Brand retail store that features a section with every silhouette from the Air Jordan 1 through the 29 draped in gold as well as something they’re calling the Jordan Flight Club which gives you access to The Draw, Jordan Breakfast Club, and Footwear Trial.

    From the outside of the store you can also see a massive recreation of the iconic “Wings” poster with Michael’s outstretched arms done in gold for that touch of luxury. Take a look at images of the retail space above and give us your thoughts.

    The Air Jordan 8 Wellington flagship store is located at Wellington Place, 2-8 Wellington St. in Hong Kong.

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  • Delhi’s Khan Market moves up two spots in global retail rank

    Delhi’s Khan Market moves up two spots in global retail rank

    With a rent of $ 235 per sq ft per year, New Delhi’s Khan Market moved up from twenty sixth place to twenty fourth place in the ‘Main Streets Across the World’ report by Cushman & Wakefield, which ranks world’s expensive retail locations.Within the APAC region, Khan Market was the 10th most expensive retail location.

    The top spot has been retained by New York’s Upper 5th Avenue followed by Hong Kong’s Causeway Bay on second spot and Avenue de Champs Elysess in Paris completing the top three.”Despite witnessing no change in the rental values of the location, Khan Market gained in rankings due to marginal changes in the rankings of other countries in the rankings,” Cushman & Wakefield said.

  • Metro Retail to tap P1.05-B loan facility

    Metro Retail to tap P1.05-B loan facility

    GAISANO-LED mall developer Metro Retail Stores Group Inc. (MRSGI) will be tapping a P1.05-billion loan facility for future projects.

    In a disclosure to the Philippine Stock Exchange on Friday, Metro Retail said its board of directors had allowed the company to use the facility, provided by Union Bank of the Philippines (UnionBank).

    “In the same resolution, the board approved the authorized signatories to transact with the UnionBank on behalf of the corporation for the availment of the said credit accommodation and facility,” the disclosure read.

    “It is in addition to our existing untouched loan facilities that we can tap,” Metro Retail Chief Finance Officer Aljim Jamandre told The Manila Times.

    The firm still has P9 billion worth of credit facilities from banks, which Metro Retail can tap in case of funding needs after pricing its initial public offering (IPO) at a steep discount from the original guidance.

    The 35 percent discount still yielded Metro Retail P3.62 billion from its IPO. The plan before the discount was to raise P6.17 billion.

    Joseph Conrad Balatbat, MRSGI vice president for business development, said the company “has more than adequate untapped credit facilities in addition to our IPO proceeds that can fund our current and immediate expansion plan.”

    The company is looking to build 60 to 70 stores mostly in the Visayas over the next five years to bring its store count to more than 100 by 2020 from 46 stores at present. The five year plan entails a budget of P10 billion to P15 billion.

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  • Announcing iFX Expo Asia 2016

    Announcing iFX Expo Asia 2016

    Organizers for iFX Expo, the largest retail forex industry trade show, announced the launch of iFX Expo Asia 2016 which brings together leading professionals, thought leaders and executives from around the retail forex trading industry.

    iFX Expo 2016 is to be held at the Hong Kong Convention & Exhibition Center on January 26th – 28th, 2016 and registration is free.iFX Expo is a leading trade show for the retail forex industry bringing together over 2000+ attendees with over 80+ exhibitors and sponsors for the event.

    Attendees to the iFX Expo Asia 2016 will get the opportunity to network with likeminded individuals from the retail forex industry as well as conduct business with forex affiliate and forex IB partners.Attendees to the iFX Expo Asia 2016 can register for free as well to learn more about the venue and the agenda for the event.

    iFX Expo follows the tradition of being the first to host series of trade shows and networking events around the globe catering to the trading community at large. Since 2012, iFX Expo has held industry trade shows in Cyprus, Macao among other international destinations and has successfully helped connect consumers with business as well as helping other business build strong and long lasting partnerships with other businesses.

  • Thais taking firm steps towards Vietnamese market

    Thais taking firm steps towards Vietnamese market

    VietNamNet Bridge – The business fields that Thais have poured money to in Vietnam – infrastructure, building materials, retail, consumer goods, food and automobiles – are all fields with great potential.

    MAF’s research team, in its latest report, pointed out that the merger and acquisition (M&A) in 2015-2016 will still focus on consumer goods, finance & banking, real estate and retail. However, the investors from Thailand will be the major buyers.

    Thai investors have many reasons to come to Vietnam. It is not only a large market with increasingly high demands, but also serves as a ‘jumping board’ for them to access neighboring markets.

    In the retail sector, Central Group in early 2015 spent $100 million for a 49 percent stake of Nguyen Kim, a home appliance distribution network, and announced a plan to turn the network into the leading distribution chain of its kind in South East Asia.

    Commenting about Thai investment strategy, a branding expert said Thais have been following a professional investment strategy based on their knowledge about local culture and habits.Meanwhile, Berli Jucker stirred up the public with the announcement about taking over Metro Cash & Carry Vietnam at $879 million. Prior to that, BJC bought Family Mart and 65 percent of Vietnamese Phu Thai Group.Central Group plans to open 50 Nguyen Kim shops by 2019, twice as many as the existing number of shops. Prior to that, Central Group established Robins, a high end retail chain in Vietnam.

    The investors have drawn up clear roadmaps for penetrating the Vietnamese market: they know well when and what they should do to acquire Vietnamese businesses – an important move in their plan to conquer the Vietnamese market.

    The branding expert also noted that the Thai capital flow to Vietnam comprises capital from billionaires with Chinese origin.  Charoen Sirivadhanabhakdi, the owner of ThaiBev, BJC and TCC Holdings, and Dhanin Chearavanont, chair of CP Group, are of Guang Dong origin. Meanwhile, the Chirathivat family which owns Central Group, is of Hainan origin.

    Thai investors are mostly targeting most important and potential business fields in Vietnam.

    The retail sector, for example, is predicted to have annual growth rate of 15 percent with  total revenue of $97 billion by 2016, according to Economist Intelligence Unit. Meanwhile, CP Vietnam has been succeeding in the animal feed market worth $6 billion a year, and the animal meat market worth $18 billion.

    Thai investors, who have powerful financial capability, tend to take shortcuts to Vietnam by acquiring Vietnamese leading enterprises. SCG, after buying Prime Group, now controls Vietnam’s building material industry with 20 percent market share. The investments in two Vietnamese leading plastics manufacturers – Binh Minh and Tien Phong Plastics – promises to help SCG cement its position in the industry.

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  • Airline retail conference organiser grounded

    Airline retail conference organiser grounded

    The organiser of the Airline Retail Conference (ARC), has gone into liquidation. Memphis Media was due to host two inflight retail events in 2016 – the ARC Asia-Pacific at Marina Bay Sands Singapore on 25-26 February, and the ARC Conference Europe on 7-8 June at Olympia Conference Centre, London.

    The firm tried to transfer paid delegates from the Singapore and UK event to other conferences, the well-established Aviation Festival Asia (23-24 February), organised by Terrapinn in Singapore and a similar event in London on 8 and 9 September.

    But Memphis Media lacked the client numbers to run the events effectively, a problem exacerbated by increasing pressures on the inflight retail channel.

    The firm’s website has not been updates with teh news and managing director Karim Halwagi did not respond to our calls.

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  • France’s Casino puts Vietnam Big C chain on the block

    France’s Casino puts Vietnam Big C chain on the block

    Casino Group plans to unload the Big C hypermarket chain in Vietnam, as part of a restructuring plan to strengthen its financial flexibility in 2016.

    In a news release posted on its website on Tuesday, the French group said it aims to shave off more than 2 billion euros ($2.17 billion) of debt. In addition to selling the Vietnamese Big C business, the company said it is mulling “real estate transactions in Thailand.”

    Potential investors interested in buying the Big C operations include Thai conglomerates and Vietnamese property developer Vingroup, according to local sources. Bloomberg on Wednesday reported that the sale could raise 750 million euros, citing Bruno Monteyne, an analyst at Sanford C. Bernstein.

    Brisk sales

    Big C was one of the first international chains to gain a foothold in the Vietnamese market, where modern retailing is still in the early stages of development. The first of the French-style hypermarkets opened in the country back in 1998. As of December, the chain consists of 32 outlets and 10 C-Express convenience stores across Vietnam.

    It is one of the top five retailers in Vietnam, with total sales in the first half of 2015 reaching 312 million euros, up 26.4% on the year.

    Casino is the second European retail group to move to sell its Vietnamese chain of late. Last year, Germany’s Metro Group signed a deal to transfer its 19-store Metro Cash&Carry Vietnam unit to Thailand’s Berli Jucker for 655 million euros. The transaction was scheduled to be completed in the first half of 2015, but it has hit a legal snag related to Metro’s corporate income tax obligations in Vietnam.

    Meanwhile, Casino Group is seeking to generate 550 million euros through the real estate business in Thailand, and another 200 million euros in Colombia, according to Bloomberg.

    Casino’s Big C chain owns some 800,000 sq. meters of gross leasable area at shopping malls across central Thailand. In Colombia, its Exito unit controls more than 300,000 sq. meters of such space, excluding hypermarkets.

    Casino entered Thailand in 1999, when it acquired a stake in Big C, the country’s No. 2 mass food retailer. The group is now Big C’s majority shareholder. Big C runs hypermarkets, supermarkets, convenience stores and supercenters — which combine a hypermarket and a large mall — in the Thai market.

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  • New Delhi tops list of Asia’s top cities for shopping

    New Delhi tops list of Asia’s top cities for shopping

    New Delhi has topped the list of Asia’s top cities for shopping, offering a treasure trove of goods through its blend of charming traditional markets and glitzy shopping malls, according to a new survey.

    New Delhi has topped the list for the best shopping city in Asia, followed by Bangkok and Singapore, according to a survey by TripAdvisor.

    “Shopping in Asian cities can be a rich and colourful experience if you know exactly which spots to go to and how to maximise your dollar,” TripAdvisor’s Communications Director for Asia Pacific Janice Lee Fang said.

    Most cities feature top quality malls, where one can find their favourite designer shops, but there are also the night markets or street shops that sell beautiful handicraft and other local gems unique to the culture, she added.

    This ranking is based on the popularity of shopping activities in Asian cities and also includes highly-rated hotel recommendations, which are bookable on TripAdvisor, offering shoppers great value for their stay so they can save as much of their holiday budget.

    The rank of the best cities for shopping is based on the total of commercial activities for shopping, the number of commercial activities for shopping with a good score, the frequency of mention for the word shopping in the reviews relative to the destination and the average score of reviews that talk about shopping in all the languages applicable on TripAdvisor.com.

    Bangkok (Thailand) is second with its huge variety of shopping options for every lifestyle and budget, from the very high-end to street shopping, wholesale and weekend markets.

    Singapore, which ranked third in the list, is famous for its retail options across the city state, with a plethora of shopping malls that open till late.

    Other cities mentioned in the top 10 shopping destination are Beijing in China at the fourth place, followed by Hanoi in Vietnam, Tokyo in Japan, Seoul in South Korea, Kuala Lumpur in Malaysia, Kathmandu in Nepal and Jakarta in Indonesia.

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  • Retail Sales Surge in China: Analysts Believe Domestic Demand Supporting Growth

    Retail Sales Surge in China: Analysts Believe Domestic Demand Supporting Growth

    In some positive news for the Chinese economy, it was reported today that retail sales in China rose unexpectedly last month. According to a report released by the National Bureau of Statistics of China, it was reported today that Chinese retail sales rose to an annual rate of 11.2 percent as compared to a reading of 11.0 percent in the preceding month. Analysts on the street had expected Chinese retail sales to rise to 11.1 percent last month. Retail sales are a closely watched gauge as it provides an insight into the inherent domestic demand.

    In other economic reports, it was reported industrial production in China rose unexpectedly last month. According to a report released by the National Bureau of Statistics of China, it was stated that Industrial Production rose to 6.2 percent as compared to a reading of 5.6 percent in the preceding month. Analysts on the street had expected the Chinese Industrial Production to come in unchanged at 5.6 percent last month. The sharp fall in commodity prices and plunge in global demand has meant that the industrial production in the world’s second largest economy continues to remain weak at the current moment.

    The report comes on the back of a report which showed that China’s urban fixed asset investment remained unchanged unexpectedly last month. According to a report released by the National Bureau of Statistics of China, it was reported that Chinese Fixed Asset Investment remained unchanged at a seasonally adjusted 10.2 percent as compared to a reading of 10.2 percent in the previous month. Analysts on the street had expected Chinese Fixed Asset investment to fall to 10.1 percent last month. Many analysts believe that the report is a clear indication that growth in the Chinese economy continues to remain subdued which is a huge cause for concern for economists and investors.

  • Garuda to strengthen medium-haul flight network

    Garuda to strengthen medium-haul flight network

    The national flag carrier Garuda Indonesia will strengthen its position in the medium-haul flight market in 2016, with a travel time of five to seven hours, according to its President Director Arif Wibowo.

    “The current market situation does not allow us to expand in the long-haul flight market, so we are focusing on medium-haul flights,” Wibowo remarked here on Wednesday.

    He explained that starting next year, there will be additional flights to and from China.

    “This year, we have been operating three weekly flights on the Guangzhou-Beijing route, and Shanghai will be added soon,” Wibowo revealed.

    He said the Hong Kong-Denpasar and Singapore-Denpasar routes will be served by Garudas wide-bodied aircraft.

    He opined that Garudas strategic business unit has recorded a passenger growth between eight to nine percent, which is not significant.

  • Lotte’s Japan unit to jack up stake in Korean affiliate

    Lotte’s Japan unit to jack up stake in Korean affiliate

    Lotte Confectionery Co., a unit of South Korean retail giant Lotte Group, said Wednesday that Lotte’s Japan operation will increase its stake in the affiliate, a move seen as part of efforts to cement the incumbent group chairman’s grip in the conglomerate amid a succession feud.

    In a regulatory filing, Lotte Confectionery said that Tokyo-based Lotte Holdings will buy 7.9 percent of its shares at 2.3 million won ($1,950) per share during trading hours by Dec. 28, a deal worth about 258 billion won.

    Last week, Lotte Holdings bought a 2.1-percent stake in Lotte Confectionery through block deals in after-hour trading.

    If the transaction is completed, Lotte Holdings’ stake in the confectionery unit will rise to 10.3 percent to become the No. 2 stakeholder after Lotte Aluminum.

    “Lotte Holdings will increase its stake in Lotte Confectionery to step up cooperation in the confectionery business for a synergy effect,” Lotte said in a release.

    The move comes as Lotte Group chairman Shin Dong-bin and his elder brother Dong-joo have been involved in a succession feud over the group whose business portfolio ranges from food to retail, mostly based in South Korea and Japan.

    The latest share purchase is interpreted as an effort to strengthen Dongbin’s grip on Lotte Confectionery, which stands at a critical position in the group’s cobweb-like structure.

    The confectionery unit has stakes in other key Lotte affiliates, including Lotte Shopping, Lotte Chilsung and Lotte Food, serving as a critical link in South Korea’s fifth-largest conglomerate.

    Shin Dong-bin also owns an 8.8-percent stake in Lotte Confectionery, followed by Shin Kyuk-ho’s 6.8 percent and Shin Dong-joo with 4 percent.

    Founder Shin Kyuk-ho has sided with Dong-joo, who has waged several suits against his brother in Japan and Korea after being fired from his senior executive position at Lotte Holdings earlier this year.

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  • Vietnam a rising Asian retail market

    Vietnam a rising Asian retail market

    VN a rising Asian retail market

    Viet Nam is on the way to becoming one of the most developed retail markets in Asia, a seminar heard yesterday in Ha Noi.

    The Viet Nam Retailers Association (VRA) organised the Viet Nam Retail Forum 2015 with the theme of “Shopping centres and their development roadmap in Viet Nam”. The event brought together officials, retail experts, domestic retailers as well as foreign retail firms.

    According to Duong Duy Hung, Deputy Director General of the Ministry of Industry and Trade (MOIT)’s Domestic Market Department, total final consumption expenditure accounted for 70 per cent of Viet Nam’s gross domestic product (GDP), of which 90 per cent is household consumption expenditure.

    Hung added that the modern retail market is increasing its role as an engine of Viet Nam’s retail sector’s growth.

    Before Viet Nam joined the World Trade Organisation (WTO), there had been concerns that the models of traditional and modern retail channels could collapse due to the open-door policies facilitating multinational retail corporations, Hung said.

    But Viet Nam retail businesses have adapted step by step, enhancing competitiveness to survive, Hung said.

    However, domestic retailers are also facing difficulties. Foreign retail giants have poured money into trade centres and supermarkets, worrying domestic retailers, Hung added.

    VRA chairwoman Dinh Thi My Loan said Vietnamese supermarket and retail shop chains had been upgraded, but they still lacked professional factors, competitiveness in pricing, diversification in products and product quality control.

    According to the Nielsen market research firm, the middle and affluent class (MAC) in Viet Nam, whose income is from VND15 million (US$714) and above a month, will triple in size between now and 2020 and will be a key group of potential customers for retailers.

    According to a report by property services firm CB Richard Ellis (CBRE), Co.opmart supermarket chain owned by Saigon Co.op was named one of top 200 Asia-Pacific retailers in 2015.

    However, in the Viet Nam’s top 10 retailer 2015 list, the leading position belongs to Saigon Jewellery SJC, followed by Nguyen Kim electronic store chains and the national mobile phone retail giant The Gioi Di Dong (Mobile World).

    This report also showed that the overall vacancy of Ha Noi’s retail space saw the highest rate in the past five years (up to 20 per cent) while this rate for HCM City has been relatively low, just under 10 per cent. This directly affects average rent in the two cities.

    As a result, average rent in Ha Noi has reduced while the figure for HCM City has increased. The rent in the central areas of Ha Noi and HCM City are very high, reportedly amounting to over $120 per sq.m per month in the third quarter of 2015, three times higher than other areas in the cities.

    The report also said that 22 per cent of Vietnamese prefer to go shopping in convenience stores rather than in big shopping malls. — VNS

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