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Category: Living

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

  • Amazon Has Considered Buying Some Toys ‘R’ Us Stores

    Amazon Has Considered Buying Some Toys ‘R’ Us Stores

    Selected sites of Toys R Us US stores may be taken over by Amazon.

    Bloomberg reports the bankrupt toy retailer is in talks with the e-commerce giant over the future of an unspecified number of stores which could be converted to Amazon’s growing portfolio of offline retail spaces. The company recently acquired grocery chain Whole Foods, which has 450 sites, and has been opening physical book stores in selected US markets.

    Toys R Us US is closing down more than 700 stores, many of which have moderate- to large-sized footprints suited to bulky goods or grocery retailing.

    Bloomberg’s sources said Amazon is not interested in the Toys R Us brand but sees opportunities to use physical stores to deliver online purchases faster. It may possibly use the sites to demonstrate its Alexa voice-activated technology.

    Amazon has previously negotiated taking over Radio Shack stores after that chain collapse, but no deal was reached.

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  • Facebook Vietnam appoints new general director

    Facebook Vietnam appoints new general director

    Social networking site Facebook has confirmed the appointment of Lê Diệp Kiều Trang (Christy Lê) as director of Facebook Việt Nam. She will work at the company’s headquarters in Singapore.

    According to Kenneth Bishop, Facebook’s managing director for Southeast Asia, with over 60 million Facebook users in Việt Nam every month, the company is investing heavily in resources and workforce to better support the community, including local businesses, partners and marketers. He said with her extensive experience, Christy Lê would help businesses in Việt Nam to develop and succeed.

    Born in 1980, Trang won a scholarship to the UK’s University of Oxford and Massachusetts Institute of Technology (MIT) in the United States.

    After leaving MIT, Trang worked for strategic consulting firm McKinsey. Later, she and her husband, Sonny Vu, founded Misfit Wearables, a start-up specialising in healthwear and body-measuring equipment.

    In 2015, Misfit Wearables was acquired by Fossil Group for US$260 million, but Trang continued as the CEO of Fossil Việt Nam. She unexpectedly resigned on March 9 this year, following which she was offered the position of director of Facebook Việt Nam.

     

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  • Sovico registers to buy 13.7 million Vietjet shares

    Sovico registers to buy 13.7 million Vietjet shares

    Sovico Holdings Company registered to purchase nearly 13.7 million shares of Vietjet Aviation Joint Stock Company (VJC) between March 26 and April 25.

    Sovico is a founding shareholder of the budget airline, owning 4.56 per cent of Vietjet’s capital. If the transaction is successful, Sovico will increase its ownership to 34.3 million shares, equivalent to 7.59 per cent, and become a major shareholder in Vietjet.

    Currently, Nguyễn Thị Phương Thảo, Vietjet’s general director and chairman of Sovio, holds 8.76 per cent of Vietjet’s capital. Her private company, Hướng Dương Sunny Investment Co Ltd, is the largest stakeholder with 28.57 per cent.

    HDBank, where Thảo is vice president, owns another 4.95 per cent, while her relatives possess a combined 2 per cent.

    Thus, after the transaction, Thảo and her related companies and individuals will likely hold nearly 52 per cent of Vietjet’s capital.

    At the end of 2017, the airline’s revenue totaled VNĐ42.3 trillion, up 53.7 per cent year-on-year. Its pre-tax profit reached nearly VNĐ4.8 trillion, up 75.9 per cent over last year and surpassing the yearly target by 26 per cent.

    Vietjet increased the dividend ratio for 2017 from 50 per cent to 60 per cent and had paid VNĐ1.35 trillion to pay 30 per cent dividends last year.

     

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  • Beiersdorf celebrates expansion of its Bangkok production facility with First Stone ceremony

    Beiersdorf celebrates expansion of its Bangkok production facility with First Stone ceremony

    Beiersdorf, owner of world leading brands such as NIVEA and Eucerin, has begun work on the expansion of its skincare products factory in Bangkok. The group’s industrial unit, located in Bangplee will be an investment of €47.4 million for the company.

    Its offices and production center together employ more than 700 staff and manufacture products for two of its brands, NIVEA and Eucerin, for the Thai market and export to 43 other countries. This expansion is reflective of the continued growth this cosmetics giant has enjoyed within the region.

    Mr. Markus Daburger, Beiersdorf Thailand says: “The Pailin Project is Beiersdorf’s commitment towards doubling production performance in order to support the demand of the region. As a representative of Beiersdorf Thailand, we appreciate the on-going support of the Government and local agencies in our expansion project, which not only sees the production line expand, but also our Beiersdorf family, as up to 200 jobs new will be created in the next years. We are proud to say that the Pailin Project in Thailand is now the second biggest hub of the company after Germany.”

    A key target of the project is to improve the working environment for all employees, with cutting-edge innovation, structured offices, optimized work ergonomics and CE-standard machines as well as a refurbishment of the existing production building. The compounding area will be renewed with four mixers replaced while the factory entrance, canteen, offices and recreation area will all be refurbished, too.

    Efficiency is also a key consideration. Line performance will be improved to see production peak at 240 bottles per minute on a single line. The expansion will include a solar-paneled roof with the capability to produce 500kW of power, and is on target to achieve a gold LEED (Leadership in Energy and Environment Design) certification. The U.S Green Building Council’s prestigious certification serves as a project management tool to achieve more sustainable, high-performance green buildings.

    The expansion, due to house new production lines for Deo Roll-Ons, has a building footprint dimension of 72m x 97m and a construction area of 9,679m2. This vast project is scheduled for completion in the first quarter of 2019 and will begin production of Roll-Ons in the following quarter. The existing building will be refurbished to accommodate Lip Care production which will begin in the middle of 2020.

     

     

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  • T Galleria Sydney opens door after renovation

    T Galleria Sydney opens door after renovation

    DFS Group, the world’s leading luxury travel retailer, will celebrate the opening of its newly renovated T Galleria by DFS, Sydney next month, offering customers an exciting modern retail experience that combines the best of the world’s most famous luxury brands with an expertly curated selection of local products.

    Spanning over 70,000 square feet, T Galleria by DFS, Sydney has occupied its historic red-brick George Street location in the heart of the historic precinct of The Rocks for 29 years. It is Sydney’s only downtown duty-free destination, mere steps away from the famous Sydney Opera House and Harbour Bridge.

    Featuring more than 150 of the world’s most desirable brands, the store is a one-stop retail paradise that entices customers with its stylish layout and carefully curated collections. It showcases an extensive selection of products across DFS’ five pillars of luxury: Fashion and Accessories, Beauty and Fragrances, Watches and Jewellery, Wines and Spirits, and Food and Gifts, with many items available exclusively at T Galleria by DFS, Sydney, such as the Michael Kors x DFS collection and Tiffany & Co.’s Keys.

    With its double-height ceiling and black-and-white checkered flooring, Watch World on the third floor is the ultimate in retail elegance as befitting the 57 luxury watch brands that are showcased there. More than 20 of the world’s most prestigious and iconic sunglasses brands are also available on the third floor, ensuring that travelers can find their perfect holiday look. Beauty and fragrance lovers are well catered for on the fourth floor with some of the beauty world’s biggest color and beauty brands.

    Customers will also discover a tempting assortment of international and local food products, wine, spirits and gifts from more than 50 brands. These include Ovvio organic certified teas, Yalumba wine, Steens manuka honey, and delicious Tim Tam bites.

    “At DFS, we pride ourselves on delighting and surprising our customers with beautiful products presented within luxurious and inviting environments. The renovated T Galleria by DFS, Sydney brings a whole new retail experience to visitors exploring this beautiful city, offering them a unique duty-free shopping space in the heart of The Rocks area,” said Sibylle Scherer, President Merchandising and Consumer Marketing, DFS Group.

    Doors to T Galleria by DFS, Sydney are now open, and the store will officially celebrate its opening on April 14.
    The refurbishment of T Galleria by DFS, Sydney began in August 2016 under the direction of Australian design company PMDL, which was also responsible for the design of T Galleria by DFS, Macau, City of Dreams, and T Galleria by DFS, in Siem Reap, Cambodia.

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  • Lotte Duty Free will exit Incheon on 7 July 2018

    Lotte Duty Free will exit Incheon on 7 July 2018

    Lotte Duty Free announced today that it will exit three of its four loss-making concessions at Incheon International Airport Terminal 1 on 7 July.

    The move follows Incheon International Airport Corporation’s (IIAC) acceptance of the retailer’s contract resignation and Lotte’s payment of an undisclosed penalty charge.

    The exit date is 120 days from IIAC’s approval of the resignation.

    As reported, Lotte Duty resigned the DF1 (P&C), DF5 (leathergoods & fashion) and DF8 (all categories) concessions on 13 February. The contracts, which Lotte won in early 2015, were due to run from September 2015 to August 2020. Lotte Duty Free said that its T1 stores have recorded losses of KW200 billion (US$184 million) since 2016. The contracts would run up a deficit of KW1.4 trillion (US$1.3 billion), the retailer claimed, if the stores continued to operate for the full term in 2020.

    Lotte Duty Free will continue to operate the main T1 alcohol and tobacco business concession (DF3).

    Report said, IIAC will retender the three contracts, probably later this month.

    Normally, one would expect Lotte’s rivals The Shilla Duty Free and/or Shinsegae Duty Free, to seize on the opportunity to snap up more Incheon business. However, both companies are also locked in talks with IIAC to try to further reduce their own T1 concession fees in the wake of the dilutive impact of the T2 opening.

  • Poltrona Frau Tokyo opens door

    Poltrona Frau Tokyo opens door

    Italian furniture brand Poltrona Frau has opened its first showroom in Tokyo.

    Covering two floors, the 366sqm store’s design is inspired by the firm’s Via Manzoni showroom in Milan.

    Its opening in the culture/fashion/design district of Aoyama represents an important step for the company’s strategy to expand in Asia. It already has a distribution presence in 350 cities.

    The showroom’s layout combines historical and contemporary pieces, from the 1930s Vanity Fair armchair to the GranTorino sofa and the Archibald armchair, both designed by Jean-Marie Massaud.

    Poltrona Frau was founded in 1912 by Sardinian-born Renzo Frau in Turin.

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  • AirAsia in talks to set up airline serving Myanmar

    AirAsia in talks to set up airline serving Myanmar

    AirAsia Bhd is in talks with a potential partner to open an airline serving Myanmar, in a move that would help the low-cost carrier cover up to 95% of the Southeast Asian travel market.

    In an interview with Reuters today, the airline’s group chief executive Tan Sri Tony Fernandes said he also expected AirAsia’s Vietnam joint venture to be flying by October.

    AirAsia now has businesses in Malaysia – its home – along with India, Indonesia, the Philippines, Japan and Thailand, as well as plans to launch an airline in China.

    “Once you’ve covered Vietnam and Myanmar, you’ve got all the big (Southeast Asian) populations,” Fernandes said. “Vietnam – we’re talking about October, we’ve had great support from the Vietnam government and we have a great partner. My team are very bullish.

    “It’s not going to be a big airline there (Myanmar), because the airport infrastructure is not there. But it is 50 million people and it will develop over time,” said Fernandes, who was in Sydney over the weekend for the Asean-Australia special summit.

    He added: “We had a good meeting with someone in Sydney – he’s got a good airline that we’ve known for a long time and he is a well-respected guy. We’re going through that process.”

    He did not name the potential partner.

    Fernandes was in Hong Kong for the launch of what he has termed a “We’re More Than an Airline” pitch, which he was due to present to analysts and investors at Credit Suisse’s Asia Investment Conference.

  • Government approves rights to purchase Vietnam Airlines’ shares

    Government approves rights to purchase Vietnam Airlines’ shares

    The Ministry of Transport (MoT) will transfer its rights to purchase shares additionally issued by the Vietnam Airlines Corporation through auction at the Hà Nội Stock Exchange.

    Under its plan, the ministry, as Vietnam Airlines’ State stakeholder, will auction 371.5 million share purchase rights, an equivalent to 57.9 million additional shares in Vietnam Airlines’ upcoming share issue.

    Individual and organisations, including overseas Vietnamese and foreigners who meet the conditions as prescribed by the law, will be eligible to buy the rights.

    In July 2017, Vietnam Airlines decided to issue over 191 million shares to existing shareholders at the ratio of 15.57 per cent to raise charter capital. The issue, expected in the last quarter of 2017, however has yet to be implemented.

    The State now holds 86.16 per cent of Vietnam Airlines charter capital which is nearly VNĐ12.3 trilion after equitisation. If the State shareholder do not exercise their rights to purchase shares in Vietnam Airlines’ upcoming share issue, the State ownership in the national flag carriers will decrease.

    Vietnam Airlines shares, trading on the Unlisted Public Company Market (UPCoM) under the sticker HVN, close Tuesday’s trade at VNĐ48,100 (US$2.11) per share, down 5.9 per cent from the previous session.

     

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  • Van Don airport Vietnam aims to serve 5m passengers

    Van Don airport Vietnam aims to serve 5m passengers

    The Ministry of Transport on Saturday announced a detailed plan for Van Don International Airport in the north-eastern province of Quảng Ninh for the 2020-30 period.

    Earlier, the Prime Minister had approved the airport’s plan to become one of the country’s top 10 international airports after he gave his nod to develop Van Don into a special administrative-economic unit (special economic zone) in the northern region.

    Under the detailed plan, the airport will be designed to serve both civil and military flights and will be able to receive 2-2.5 million passengers every year by 2020 as well as large aircrafts such as B777, B787, B747-400 and A350. The airfield will be expanded to serve five million passengers annually by 2030.

    The airport will be able to handle at least 51,000 tonnes of goods per year by 2030.

    By 2020, the airport’s runway will be 3.6km long and 45m wide. This will make it the longest runway in Việt Nam.

    Speaking at the announcement ceremony, Deputy Minister of Transport Lê Đình Thọ said the project was the result of the strong determination shown by the Government and ministries of the province in ensuring necessary infrastructure for its socio-economic development.

    Thọ has asked the concerned departments and units to inspect and manage the project.

    Nguyễn Văn Thành, vice chairman of the People’s Committee of Quảng Ninh Province, affirmed that the provincial authorities will ask the investor to speed up the construction process in accordance with the plan approved by the Prime Minister.

    Van Don International Airport will be built on 290ha in Đoàn Kết Commune, Van Don District, under the build-operate-transfer format, with an estimated investment capital of VNĐ7.5 trillion (US$351.8 million). This will include some VNĐ640 billion for site clearance. The project will be divided into three phases. In the first phase, the total investment will be VNĐ3.9 trillion.

    Sun Group has been chosen as the strategic investor for the project, which began in 2015 and is expected to become operational in the second quarter of 2018.

    Van Don International Airport will be the first airport where a province has mobilised capital by itself.

     

  • Smiggle Asia shows positive growth

    Smiggle Asia shows positive growth

    Smiggle Asia is thriving, its success here encouraging the stationery retailer’s parent to expand in other global markets.

    Smiggle, a subsidiary of Australian listed company Premier Investments, opened three new stores in Hong Kong in the first half of its current trading year and a further two in Malaysia. Both markets now have 13 Smiggle stores trading.

    “The brand now expects to have between 17 and 19 stores operating in Malaysia within three years of first opening. This is well ahead of the original plan,” the company said in an earnings filing.

    “The Smiggle Asia division had an exceptionally strong half. Singapore, the most mature of the Asian markets, enjoyed strong like-for-like growth with tourists providing valuable insights into potential new Smiggle markets.”

    The brand achieved record global sales of A$170.7 million (US$131.6 million) in the first half, up 26.7 per cent on the same time last year, underpinned by the opening of 35 new stores. More than 60 per cent of Smiggle sales during the period were from outside Australia. Smiggle now has 332 stores across Australia, New Zealand, Singapore, England, Scotland, Wales, Northern Ireland, Hong Kong, Malaysia and Ireland.

    The company will open a global flagship on Oxford Street in London in May as the UK business aims for $200 million in annual sales by next year.

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  • Toys R Us Asia assures it will not be affected by US’s liquidation

    Toys R Us Asia assures it will not be affected by US’s liquidation

    Toys R Us Asia has repeated earlier assertions that its business will not be affected by the liquidation of Toys R Us stores in the US and UK, amid reports that Australian operations would likely need to close.

    Toys R Us Asia’s joint-venture partner Fung Retailing, which owns approximately 15 per cent of the toy retailer’s Asia-Pacific arm, has clarified that its 400 stores in greater China and Southeast Asia remain open for business.

    “Toys R Us Asia is open for business and continuing to serve our customers as we always do,” Toys R Us Asia president Andre Javes said.

    “We are a financially robust and self-funding retail operation, which continues to significantly grow and invest in this region.

    “Every year we are opening new stores in all our markets and particularly in China where we now operate over 150 stores and will be opening another 30 in the coming months.”

    Toys R Us Asia operates as a separate legal entity to Toys R Us Inc, and according to Fung is “financially independent from all other Toys R Us operating companies around the world”.

    Last week, Toys R Us’s US-based CEO David Brandon was quoted by The Wall Street Journal as saying that the retailer’s 39 stores in Australia would likely be liquidated.

    The Australian operations are currently being run by local MD Dianne Guerreiro, who less than six months ago was charting expansion for the business, outlining a plan to open up to 20 stores in the coming years.

    Toys R Us Australia has also said it is “business as usual” despite the US collapse.

    The US parent announced that it would be winding down the majority of its operations last week after efforts to save the company collapsed when lenders decided not to extend their support for the ailing business.

    The toy retailer, which has more than 800 stores across America, has struggled to keep up with escalating competition from the likes of Amazon and Walmart in recent years, particularly as online shopping has become more prevalent.

    Fung Retailing did not elaborate on its plans for the Asian arm if its US-based partner Toys R Us Inc goes under.

     

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  • Japan Tobacco buys Russia’s fourth-largest cigarette maker

    Japan Tobacco buys Russia’s fourth-largest cigarette maker

    Japan Tobacco has agreed to buy Donskoy Tabak, Russia’s fourth-largest cigarette maker, for $1.6 billion in a bid to reinforce its leading position in the country.

    One of the world’s biggest tobacco companies, whose global brands include Winston and Camel, Japan Tobacco (JT) has set its sights on international markets to counter slowing sales at home and intensifying competition in the e-cigarette market.

    JT on Friday said the deal would boost its Russian market share to about 40% from the current 33%, which was already the largest in the country.

    The acquisition of Donskoy Tabak, whose brands include Donskoy Tabak, Kiss and Play, will be completed later this year, it said.

    “This acquisition demonstrates our commitment to reinforce our number one position in Russia,” JT executive vice president Mutsuo Iwai said in a statement.

    The deal will also include JT’s purchase of Greek cigarette maker SEKAP, it said, adding that it has no plan to revise its earnings forecast following the announcement.

    Last year JT spent some $2 billion on acquiring major tobacco manufacturers in Asia, including Mighty of the Philippines.

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  • “Harbour Art Fair” to showcase Hong Kong’s contemporary artwork

    “Harbour Art Fair” to showcase Hong Kong’s contemporary artwork

    Harbour City always strives to “Bring Art into Life” and become the venue for some of the most talked about and most visited art exhibitions in Asia. In March, the art month of Hong Kong, with the success of Harbour Art Fair 2017, Harbour City will present Harbour Art Fair 2018 from 23rd to 26th March 2018 at Marco Polo Hongkong Hotel, and it will extend its scope to embrace galleries from other Asian countries apart from Korea, exhibiting more than 50 emerging galleries and over a hundred art works. A promising line-up of galleries at the Hotel will be accompanied by art talks and docents, while different activities for kids will take place in the mall as an extension of the Fair.

    Solo exhibitions of three Korean artists will also be featured at Harbour City’s shopping mall and public space from 14th March to 3rd April 2018 as an extension of the art extravaganza. This year’s special exhibitions will bring the audience out of the box, reflecting the relationship between people, between humans and animals, and between humans and the nature: artist BYUN Dae-yong will showcase his series of “adorable but emaciated” polar bear sculptures at the Ocean Terminal Forecourt of Harbour City, leading the audience to ponder the effect of global warming on humans; Gallery by the Harbour will exhibit the artist ENJO’s works, which reverse the definitions of 2-dimension and 3-dimension; meanwhile at Atrium II of Gateway Arcade, there will be cute animal characters by the artist NOH Jun, bringing forth the message of “restoring relationships” and harmonious co-existence.

    Moreover, 「PERSPECTIVES OF LOVE GRAND ART BY GRAND MASTER CHAN」Contemporary Chinese Calligraphy on a giant traditional Chinese drawing paper (Xuan Paper) in 10m length and 3m by Mr. David Chan Tsze-wei, a well-known Hong Kong calligrapher, will be displayed at Atrium I of Gateway Arcade to uphold the universal message of “Love & Peace”.

    Harbour City even extends art to children’s life and teams up with CreativeKids to host the “Tire Painting Fun @Harbour City” Art Workshop at the Atrium, G/F, Ocean Terminal, Harbour City from 24 March to 8 April 2018.

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  • Vietjet announces plan to open direct flights from Vietnam to Australia

    Vietjet announces plan to open direct flights from Vietnam to Australia

    Vietjet is set to make Brisbane its first Australian long haul destination following the signing of a Memorandum of Understanding (MoU) between the airline and Brisbane Airport Corporation (BAC), Queensland, Australia.

    Scheduled to commence in 2019, the non-stop service between Ho Chi Minh City and Brisbane is expected to boost trade integration and exchange, a move that will greatly serve the interests of the region.

    The signing ceremony which took place in Sydney was witnessed by Vietnam Prime Minister Nguyen Xuan Phuc and other senior leaders of Vietnam and Australia. During which, Vietjet also signed a MoU worth US$609 million with Investec Bank PLC to finance the purchase of five Airbus A321 aircraft at manufacturers’ list price.

    Julieanne Alroe, CEO and Managing Director of BAC said travel between Queensland and Vietnam has been growing at an average 8 per cent per annum over the last five years and this new service would further stimulate the market. “It makes perfect sense for Vietjet to choose Brisbane, Queensland as its very first Australian port for direct flights given Ho Chi Minh City is one of Brisbane’s top five markets without non-stop services. We look forward to welcoming Vietjet to the Brisbane Airport family and further strengthening the ties between Queensland and Vietnam,” she said.

    Vietjet Vice President Nguyen Thi Thuy Binh said, “Vietjet has been well prepared with comfortable, high-quality and friendly services to expand its international flight network to top destinations, connecting Vietnam’s economic and tourism hubs with Asia Pacific countries, including Australia – a popular tourist and business hotspot”.

    “This new route addition presents us with an opportunity to better serve the demands of travelers in Vietnam and the region. We are proud to be the pioneer airline to operate direct services from Vietnam to Brisbane, a dynamic business centre that boasts friendly people, pleasant weather and living conditions that is very attractive for international travelers.”

    Located in Southeast Australia, Brisbane – the capital of the Sunshine State, boasts a population of over 2 million people, making it the third-largest city in Australia. Brisbane’s year-round idyllic subtropical weather, award-winning food and wine, adventurous activities and spectacular scenery has been a major draw-card for many domestic and international travelers, especially those from the Asia Pacific region, including Vietnam.

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