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  • Costco’s Online Leap into China: Partnership with JD Expands Nationwide Reach

    Costco’s Online Leap into China: Partnership with JD Expands Nationwide Reach

    Costco, the multinational warehouse retailer, has embarked on an exciting new chapter in its expansion efforts within China. The company recently inaugurated an online flagship store on JD, China’s leading e-commerce platform. This online presence is set to enhance Costco’s reach beyond its existing physical warehouse network.

    The collaboration with JD provides nationwide consumers with access to an impressive array of approximately 700 products. These offerings encompass various categories, such as groceries, household essentials, health supplements, beauty, and Costco’s exclusive Kirkland Signature private-label line. Significantly, this also includes regions where Costco currently lacks a physical presence.

    This strategic partnership with JD serves as a critical step in augmenting Costco’s business operations in China. It goes beyond the restricted physical scope of their membership warehouses. As stated by Costco China, “Our alliance with JD, utilizing its robust online platform and extensive logistics network, allows us to overcome regional boundaries. It facilitates the expansion into wider markets and ensures effective delivery of Costco’s distinctive merchandise and service value to consumers across the country.”

    The online flagship store underwent a trial phase that commenced in late May. According to Costco, during the first month of the trial period, the store attracted over 30 million visits and gained nearly 200,000 followers. These figures underscore the strong consumer interest leading up to the store’s official inauguration.

    This development materializes as Costco continues to cautiously extend its footprint in Mainland China. Since the establishment of its maiden warehouse in Shanghai in 2019, Costco has introduced a few additional stores in the nation’s major cities. Concurrently, the retailer is increasingly incorporating digital channels to augment its market reach.

    Questions & Answers

    What is the significance of Costco’s partnership with JD?
    The collaboration with JD enables Costco to extend its reach across China, beyond the physical boundaries of its warehouse network. It allows consumers from various regions, including those where Costco has no physical presence, access to an array of products.

    How many products will be available through Costco’s online flagship store on JD?
    The online store offers nationwide consumers access to around 700 products spanning various categories.

    What was the consumer response during the trial phase of the online store?
    During the trial phase in its first month, the online store attracted over 30 million visits and gained nearly 200,000 followers, indicating strong consumer interest.

  • Unlocking Retail Growth: How Payment Data Transforms Customer Engagement Strategy

    Unlocking Retail Growth: How Payment Data Transforms Customer Engagement Strategy

    In the evolving retail environment, merchants are faced with an abundance of platforms and technologies to engage with customers. This, according to Mastercard’s SVP of consumer acquisition and engagement, Johann Suchon, has given rise to a new challenge: discerning where to allocate resources for tangible growth.

    The Changing Retail Ecosystem

    With an increasingly fragmented and competitive retail landscape, brands have numerous opportunities to connect with customers through both digital and physical channels. Navigating the optimal combination of platforms, technologies, and marketing tools, however, has become a complex task. The modern retail ecosystem is far more intricate than in the past, and retailers now face the challenge of identifying the most effective tools, along with those that best facilitate the management of their offers.

    Suchon asserts that retailers must begin influencing customer purchasing decisions early in the buying journey. Payments are evolving beyond a simple transactional function, morphing into a strategic engagement channel. Through payment data, brands can significantly influence customer behavior – a capacity that far exceeds what could be achieved by leveraging solely their first-party data.

    The Transformation of Loyalty Programs

    According to Suchon, loyalty programs are currently undergoing one of their most significant transformations. The key competitive edge lies not just in acquiring customers, but also in reaching the appropriate consumers with meaningful offers. Traditional loyalty programs, which typically offer uniform benefits to members, are becoming less effective as customers increasingly demand personalized experiences.

    By enriching their data with payment information, retailers can target offers much more accurately. Retailers who have previously invested in loyalty programs are in a strong position to transition, as their first-party data can be used to tailor communications and offers more effectively than brands without loyalty programs.

    The use of payment data also presents a broader view of customer behavior, allowing retailers to gain insights into spending patterns across various industries, thus identifying opportunities that may have otherwise been missed.

    Emerging retail trends also suggest a significant shift in cross-border spending in Asia-Pacific, with approximately 70% of transactions originating from local consumers. For retailers targeting inbound tourism, this offers a substantial opportunity to connect travelers with relevant offers before and during their visit.

    Questions & Answers

    What is the current challenge for retailers in term of customer engagement?
    The current challenge for retailers is discerning where to allocate resources for tangible growth amidst an abundance of platforms and technologies.

    How can payment data be utilized in the retail sector?
    Payment data can significantly influence customer behavior and offers a broader view of customer behavior, allowing retailers to gain insights into spending patterns across various industries, thus identifying opportunities that may have otherwise been missed.

    What is the future trend in loyalty programs in the retail sector?
    Loyalty programs are currently undergoing significant transformations, with a shift towards personalized experiences. By enriching their data with payment information, retailers can target offers much more accurately. This trend is likely to continue and evolve in the future.

  • Citi Banks on Vietnam’s Potential for Expanding Social Finance Sector

    Citi Banks on Vietnam’s Potential for Expanding Social Finance Sector

    Jorge Rubio Nava, Global Head of Citi Social Finance, recently outlined Citi’s global role in social finance and the prospects for growth in Vietnam and throughout Asia.

    Citi’s Impact in Social Finance

    Since its establishment in 2005, Citi Social Finance has been primarily focused on microfinance, later branching out to finance that enhances access to crucial services for overlooked communities. The venture has successfully mobilized over US$19.7 billion, positively impacting 22.7 million low-income and underserved families, including 12.3 million women in over 50 emerging markets.

    In 2021, the bank introduced its Global Social Finance Framework and, three years later, issued a $3 billion Social Finance Bond. Social finance’s goal is not just to provide funds but also to assure that these funds reach communities where they can foster inclusive economic development.

    Citi defines social finance as supporting projects that enhance access to vital services for underserved populations. This includes affordable infrastructure, housing, economic inclusion, education, food security, and healthcare. Each transaction under this umbrella is scrutinized against pre-set criteria and anticipated social outcomes, with the bank having developed internal guidelines for eligibility, financing structures, and impact measurement.

    Opportunities in Vietnam

    In Vietnam, Citi recently finalized two social trade finance transactions with BIDV and MB. These deals spotlight the significant opportunities in the country, where micro, small, and medium-sized enterprises (MSMEs) contribute more than 45% to GDP and over 60% to employment.

    Citi provided over $100 million in social trade advance facilities to BIDV and MB, intended to bolster the banks’ lending to MSMEs for working capital and income-generating activities. This contributes to business expansion and job creation. These transactions also showcased how social finance can be amplified through collaborations with local financial institutions.

    In addition to their banking partnerships, Citi is also engaging with corporate clients, such as a Vietnamese coffee company. Through a financing arrangement, they are supporting the company’s working capital while also helping expand market access for smallholder coffee farmers via its supply chain.

    Questions & Answers

    What was the purpose of Jorge Rubio Nava’s recent trip to Vietnam?
    The purpose of the visit was to engage with corporate clients and financial institutions to explore how social finance can aid in business growth.

    What is required for social finance to develop further in Vietnam and Asia?
    Continued client demand, transparency in the use of proceeds, measurable outcomes, consistent reporting, and scalability are crucial for the growth of social finance in the region.

    Does Citi plan to continue expanding its social finance activities in Vietnam and other parts of Asia?
    Yes, Citi intends to keep growing its social finance activities in Vietnam and Asia by partnering with clients to develop financing solutions that merge commercial viability with measurable social impact.

  • OCE Debuts in Bangkok: Nordic Brand Spreads Wings in Thai Retail Market

    OCE Debuts in Bangkok: Nordic Brand Spreads Wings in Thai Retail Market

    OCE, a lifestyle brand inspired by Nordic culture, has launched its first retail location in Thailand, marking another stride in its ongoing global expansion efforts. The brand, originally based in Guangzhou, set up shop in Bangkok’s Central Chaengwattana shopping centre, introducing the Thai market to its “Nordic laid-back aesthetics”. Customers are offered a diverse selection of over 2000 unique products to choose from within the store.

    A Positive Outlook on Thai Retail Market

    Kenneth Tng, the International Leasing Head at Central Pattana, the parent company of the shopping centre, expressed optimism about OCE’s new venture. He stated that the store’s launch underscored the growing vitality and appeal of Thailand’s retail sector.

    “It’s a privilege for Central Pattana to be chosen as a collaborator for such a pivotal moment in OCE’s worldwide growth,” Tng added. He further stated that the new concept was unveiled at Central Changwattana on June 19.

    Tng reassured that Central Pattana will persist in its commitment to deliver innovative, fresh, and globally pertinent retail experiences to its clientele. The company also plans to continue supporting international brands, like OCE, making their entry and expansion in the Thai market.

    OCE has a strong presence in Mainland China, operating over 50 stores, primarily in the major cities. Last year, the brand extended its reach to Europe with a flagship store opening in Copenhagen, Denmark, and also made its debut in Malaysia with a store launch in Kuala Lumpur.

    Questions & Answers

    What is OCE’s brand inspiration?
    OCE takes inspiration from Nordic culture to create its unique, laid-back aesthetic.

    Where is OCE’s first store in Thailand located?
    OCE’s first Thai store is positioned in Central Chaengwattana shopping centre in Bangkok.

    Does OCE have a presence outside of Asia?
    Yes, OCE expanded its reach beyond Asia in 2020 with the opening of its European flagship store in Copenhagen, Denmark.

  • Nestlé Triumphs in Q1 Amidst Foreign Exchange and Recall Challenges: Coffee, Food, and Snacks Lead the Charge

    Nestlé Triumphs in Q1 Amidst Foreign Exchange and Recall Challenges: Coffee, Food, and Snacks Lead the Charge

    Nestlé, the multinational FMCG powerhouse, began the year with consistent growth. It did so despite a decline in sales attributed to currency fluctuations and the residual effects of a product recall involving infant formula.

    First Quarter Performance

    During the first quarter of the year, Nestlé’s performance illustrated the efficacy of its internal strategy. According to CEO Philipp Navratil, the company experienced strength across multiple sectors and categories, with coffee, food, and snacks being the standout performers. The company experienced notable growth in emerging markets, while in Europe and the United States, the performance remained solid despite the prevailing conditions.

    The reported total sales for the first quarter amounted to $27 billion (or CHF $21.3 billion). This represents a year-on-year decrease of 5.7 percent. In addition, foreign exchange fluctuations resulted in a 9.3 percent reduction in sales.

    Category Performance

    In terms of categories, coffee, food, and snacks were the leading performers. All sectors experienced positive growth, with the exception of infant formula within the nutrition business. The company reported that the infant formula recall caused a reduction in organic growth of approximately 90 basis points during the quarter. However, they also noted that product availability has since returned to normal.

    Emerging markets continued to excel, producing organic growth of 6.8 percent, excluding China. Europe demonstrated consistent trends, while the United States proved robust.

    Future Projections

    Navratil spoke about the momentum built in the first quarter and the company’s continued efforts to execute its strategy for a stronger Nestlé. In light of the complex and uncertain climate, he expressed gratitude to the teams for their commitment and customers for their trust.

    Looking to the future, the company anticipates organic growth of around 3 to 4 percent. This projection has been made despite the increasing global economic and geopolitical uncertainty. Profit margins are also expected to improve in comparison to last year, with gains likely to pick up speed in the second half of the year. Nestlé forecasts that free cash flow will exceed $11.4 billion.

    Questions & Answers

    What factors have led to Nestlé’s sales decline in the first quarter?
    The decline in sales has been attributed to currency fluctuations and the residual effects of a product recall involving infant formula.

    What categories have been the standout performers for Nestlé?
    According to the company, the categories that have led performance are coffee, food, and snacks.

    What are Nestlé’s expectations for future growth?
    Despite increasing global economic and geopolitical uncertainty, the company anticipates organic growth of around 3 to 4 percent. Profit margins are also expected to improve in comparison to last year.

  • Beatrice Monguidi Steps Up as New CEO of LVMH’s Rimowa: A New Chapter for the Luxury Luggage Brand

    Beatrice Monguidi Steps Up as New CEO of LVMH’s Rimowa: A New Chapter for the Luxury Luggage Brand

    Beatrice Monguidi has been named the new CEO of Rimowa, the renowned suitcase brand, by LVMH. She will officially assume her duties starting June 1. Monguidi will directly report to Pietro Beccari, who holds the dual roles of Chairman and CEO of both the LVMH Fashion Group and luxury fashion house Louis Vuitton.

    Experience and Expertise

    Monguidi’s appointment is indicative of LVMH’s strategy to leverage internal talent, recognising her vast experience across several of the group’s premier brands. Her professional journey includes stints at Fendi and Christian Dior Couture, both high-profile LVMH companies.

    In her most recent role, Monguidi excelled as the Zone President for EMEA (Europe, Middle East, and Africa) at Louis Vuitton. She was responsible for supervising one of the brand’s most intricate regions. Her efforts to cultivate a culture centred around people while maintaining robust commercial performance and operational discipline across varied markets did not go unnoticed.

    Beccari lauded Monguidi’s leadership skills, stating, “Monguidi has demonstrated a remarkable ability to unite and guide teams towards common goals within the multifaceted and complex EMEA ecosystem. Her commitment to the collective and to nurturing talent makes her the perfect fit to steer Rimowa’s vision into the future.”

    LVMH’s Current Financial Standing

    Monguidi’s appointment coincides with the release of LVMH’s first-quarter revenue report. The figures reflect a revenue of €19.1 billion (US$22.4 billion), marking a 6% decline. This drop is attributed to ongoing geopolitical tensions impacting trade. However, the brand’s strong performance in key markets, notably the US and Asia, helped mitigate the disruption caused by larger economic instability and conflict in the Middle East.

    Questions & Answers

    Who has been appointed as the new CEO of Rimowa?
    Beatrice Monguidi has been appointed as the new CEO of Rimowa.

    Who will Beatrice Monguidi report to in her new role?
    She will report to Pietro Beccari, the Chairman and CEO of the LVMH Fashion Group and Louis Vuitton.

    What is LVMH’s latest reported revenue?
    LVMH’s latest reported revenue for the first quarter is €19.1 billion or US$22.4 billion.

  • Hong Kong Luxury Real Estate Shuffle: Prince Jewellery Director Trades up with $6.4M Duplex Purchase

    Hong Kong Luxury Real Estate Shuffle: Prince Jewellery Director Trades up with $6.4M Duplex Purchase

    Tang Yick-ki, a director of Prince Jewellery and Sky Regal Properties, has recently engaged in significant real estate transactions in Hong Kong. He sold an apartment in Kowloon and obtained a two-story home in the vicinity for HKD50 million (US$6.4 million). These deals were completed in just over a month.

    Real Estate Transactions

    Tang sold his three-bedroom apartment, boasting 95 square meters of living space, located on the 71st floor of The Cullinan on Austin Road West in West Kowloon. The selling price was HKD46 million (US$5.9 million). Land Registry records confirmed the deal was finalized on January 5. Tang originally bought the apartment in 2016 for HKD32.5 million, meaning the property has increased in value by 41% in the intervening years.

    Roughly three weeks after this sale, Sky Regal Properties, where Tang serves as the sole director, purchased a duplex in The Waterfront, a residence within the same vicinity. According to the Land Registry, the transaction was completed last week for a cost of HKD50 million. Real estate agents specified that the duplex is 145 square meters and situated on the 45th floor.

    Prince Jewellery and the Hong Kong Property Market

    Prince Jewellery, with a 40-year history in Hong Kong, operates 16 retail stores and hosts over 60 globally recognized brands. The company’s recent real estate transactions come at a time when the Hong Kong property sector is gradually recovering from a prolonged slump. Despite persisting uncertainties, affluent homeowners like Tang are anticipated to continue seeking home upgrades.

    Some industry experts indicate that wealthier residents may choose to improve their current residences. However, this trend might not extend to those who invest in properties purely for financial gain. Additionally, home upgrades tend to become more popular during periods of market instability.

    Land Registry records also showed that another duplex in The Waterfront was sold for HKD50 million last week. The property was acquired by an entity known as Tung Tak, which had purchased it for HKD48.8 million in 2023.

    Questions & Answers

    What recent real estate transactions has Tang Yick-ki engaged in?
    Tang Yick-ki, a director of Prince Jewellery and Sky Regal Properties, has recently sold an apartment in Kowloon and bought a two-story residence nearby for HKD50 million.

    How is the Hong Kong property sector performing currently?
    The Hong Kong property sector is gradually emerging from a prolonged downturn. Despite ongoing uncertainties, affluent property owners are expected to pursue property upgrades.

    What is the trend concerning home upgrades in Hong Kong?
    Home upgrades tend to become more popular during periods of market instability. However, this trend might not apply to those who acquire property solely for investment purposes.

  • Playboy Leaps into Massive China Market: Sells Half-Stake for $122 Million to Local Operator UTG

    Playboy Leaps into Massive China Market: Sells Half-Stake for $122 Million to Local Operator UTG

    U.S. entertainment giant, Playboy, is set to sell half of its Chinese operations to UTG Brands Management Group, a local operator of consumer brands. The deal, worth $122 million, will see UTG take responsibility for managing all operational aspects of Playboy’s enterprise in China, Hong Kong, and Macau.

    Details of the Deal

    The agreed sale price is broken down into various segments. UTG will pay $45 million over the course of two years for a 50% stake in a joint venture for Playboy’s Chinese business. An additional $67 million will be paid as guaranteed minimum distribution payments over eight years. Finally, UTG is set to provide $10 million in brand support payments over the coming three years.

    Playboy, the U.S based company, will retain the remaining stake in the joint venture.

    Investing in the Future

    Playboy has detailed plans to use at least $50 million of the income from the deal to further minimize its financial liabilities. It anticipates an immediate increase in earnings following the completion of the transaction.

    Ben Kohn, CEO of Playboy, stated the collaboration with UTG provides an important opportunity to invest in the brand’s future in China. This strategic move will position Playboy for prolonged, steady growth in one of the world’s most significant consumer markets.

    Wenming Zhang, CEO of UTG Brands Management, explained that the company will utilize a global perspective, coupled with strong local insight, to revitalize and enhance Playboy’s brand appeal. While staying true to Playboy’s roots of gentlemanly leisure, UTG will incorporate the spirit of diversity and innovation that characterizes the modern era.

    The deal is forecasted to be finalized by March 31st.

    Background Information

    Playboy was established in 1953 as a men’s lifestyle magazine before expanding into clothing in 1960. The company entered the Asian retail market in the 2000s. Despite reporting a slight decrease in sales to $29 million in the third fiscal quarter, this new venture promises to bring a fresh approach to its operations in Asia.

    UTG Brands Management is part of the Hong Kong-based United Trademark Group, which manages a portfolio of over 10 brands, such as Jeep, Dickies, and Pierre Cardin, across a dozen countries.

    Questions & Answers

    What does the deal encompass?
    UTG Brands Management Group is acquiring a 50% stake in Playboy’s Chinese operations. The deal, valued at $122 million, involves payments for the acquisition, brand support, and guaranteed minimum distributions over a span of years.

    How will Playboy use the proceeds from this transaction?
    Playboy plans to use at least $50 million of the transaction proceeds to further de-leverage its balance sheet, reducing financial liabilities.

    When is the deal expected to close?
    The transaction between Playboy and UTG Brands Management Group is expected to close by March 31st.

  • Li & Fung Strikes Gold: Secures Wholesale Distribution Rights for C&C California

    Li & Fung Strikes Gold: Secures Wholesale Distribution Rights for C&C California

    Hong Kong’s premier supply chain manager, Li & Fung, has recently entered into a licensing contract with C&C California. This agreement grants Li & Fung exclusive rights to wholesale distribution across all retail platforms, including full-price, off-price, and club retailers.

    C&C California and its Specialties

    C&C California operates as a part of the larger Established Lifestyle group. The company particularly excels in the design and development of women’s swimwear, sleepwear, and outerwear.

    The newly inked contract will allow Li & Fung to manage and guide the expansion of C&C’s new product ranges and their subsequent distribution process.

    Expansion of Products Range

    In the swimwear segment, the expanded product line will include separate pieces, one-piece swimsuits, and beachwear. Their sleepwear category is also set to grow, with the introduction of separate pieces, coordinated sets, and robes.

    The outerwear products will encompass a range of seasonal styles, varying from light windbreakers to heavier garments like puffers and parkas.

    Brand Expansion and Identity

    Mel Limoncelli, Senior Vice President and head of licensed brands at Li & Fung, stated that this partnership will allow the brand to venture into new product categories while preserving its core identity.

    In his words, “The category expansions remain true to a brand heritage rooted in 70s West Coast culture. Moreover, they continue to embrace the endless summer ideal through comfort, ease of wear, and easy-care fabrics.”

    Questions & Answers

    What is the nature of the agreement between Li & Fung and C&C California?
    The agreement is a licensing contract that provides Li & Fung with the rights to manage the wholesale distribution of C&C California products across all retail platforms.

    How does this agreement benefit C&C California?
    This agreement allows C&C California to expand their product ranges under the expert management of Li & Fung. This expansion includes new lines in swimwear, sleepwear, and outerwear categories.

    What does the expansion mean for the brand’s identity?
    Despite diversifying into new product categories, the brand intends to stay true to its roots, which are embedded in the 70s West Coast culture. The expansion aims to resonate with the idea of an endless summer through comfortable, easy-to-wear, and low-maintenance fabrics.

  • UBS Taps 30-Year Veteran Andrew Bird to Spearhead Australian Wealth Management Division

    UBS Taps 30-Year Veteran Andrew Bird to Spearhead Australian Wealth Management Division

    UBS, the multinational investment bank and financial services company, recently declared the appointment of Andrew Bird as its new Head of Global Wealth Management (GWM) for Australia. With a career spanning three decades and a previous tenure at UBS, Bird brings valuable experience and expertise to the role.

    New Head of Wealth Management

    Andrew Bird has officially taken over as Head of Global Wealth Management for UBS Australia, from April 27. In addition to his primary role, Bird is joining the bank’s GWM management team, overseeing operations in diverse regions including Southeast Asia, Japan, India, and Australia. He will also play a substantial part in the Australia Country Management Forum.

    Bird’s base of operations will be in Sydney, where he will report directly to Jin Yee Young, the Co-Head of GWM APAC. At the local level, Bird will coordinate with the Co-Country Heads of Australasia, Nick Hughes and Greg Peirce.

    Experienced Professional

    Bird’s professional journey spans over 30 years in wealth management and institutional markets. His most recent role was leading the wealth management division at National Australia Bank’s JBWere for the past decade. Bird is no stranger to UBS. Here, he previously served as the Market Manager for Melbourne in the wealth unit. Bird’s distinguished career also includes holding senior private banking positions at Credit Suisse and Citi.

    UBS has confirmed Bird’s appointment and his outlined responsibilities through a spokesperson.

    Questions & Answers

    Who has been appointed as the new Head of Global Wealth Management for UBS Australia?
    Andrew Bird has been appointed as the new Head of Global Wealth Management for UBS Australia.

    What other roles will Andrew Bird be undertaking at UBS?
    Aside from his chief role, Bird will join the GWM management team, responsible for Southeast Asia, Japan, India, and Australia. He will also participate in the Australia Country Management Forum.

    What is Andrew Bird’s professional background?
    With over 30 years of experience across wealth management and institutional markets, Bird has previously worked for National Australia Bank’s JBWere, Credit Suisse, and Citi. His prior role at UBS was as the Market Manager for Melbourne in the wealth unit.

  • Vietjet delivers strong 2025 results with 47% Q4 revenue growth and global network expansion

    Vietjet delivers strong 2025 results with 47% Q4 revenue growth and global network expansion

    Vietjet Aviation Joint Stock Company (HOSE: VJC) reported strong revenue and profit growth in the fourth quarter and full year of 2025. These results provide a solid foundation for Vietjet as it enters 2026 with ambitious global growth strategies.

    Network Expansion Strengthens Market Position, Including Singapore–Vietnam Connectivity

    In Q4/2025, Vietjet transported more than 6.7 million passengers across 36,100 flights.

    For the full year, the airline carried 28.2 million passengers on 153,000 flights, representing YoY growth of 9% and 11.2%, respectively. Total cargo volume reached 113,923 tons.

    Vietjet continues to hold the leading market share in Vietnam by passenger volumes across both domestic and international markets.

    In 2025, the airline operated 254 routes, including 52 domestic and 202 international services, and launched 22 new routes connecting Vietnam to key destinations, including Central Asia and China.

    To meet rising travel demand, driven by strong leisure and business traffic, particularly between Singapore and Vietnam, Vietjet expanded capacity to enhance connectivity and operational efficiency. The airline launched the Singapore – Phu Quoc route in May 2025, expanding its flight network between Singapore and Vietnam. The route was later increased from four weekly services to seven round-trip flights per week. Vietjet currently offers four direct services linking Singapore with Hanoi, Ho Chi Minh, Da Nang and Phu Quoc.

    Effective Operations Sustain Profit Growth Momentum

    Based on its financial statements, Vietjet recorded separate revenue of VND29.035 trillion (approx. SGD1.43 billion) in Q4/2025, a 47% year-on-year (YoY) increase.

    In Q4/2025, Vietjet posted a separate pre-tax profit of VND475 billion (approx. SGD23.31 million) and consolidated pre-tax profit of VND579 billion (approx. SGD28.41 million), soaring 93.4% and 436% YoY, respectively.

    For the full year, Vietjet delivered strong performance, with separate revenue reaching VND81.426 trillion (approx. SGD3.99 billion), up 14% YoY. Separate gross profit for 2025 stood at VND8.213 trillion (approx. SGD403.23 million), supported by continued network expansion and lower fuel costs compared to the previous year.

    Vietjet’s consolidated revenue totalled VND82.093 trillion (approx. SGD4.03 billion), an increase of 14% YoY. Consolidated pre-tax and post-tax profit reached VND2.630 trillion (approx. SGD128.93 million) and VND2.123 trillion (approx. SGD104.06 million), growing 44.3% and 51.2%, respectively, and exceeding 120% of the annual plan.

    As of 31 December 2025, Vietjet’s total assets reached VND139.459 trillion (approx. SGD6.84 billion). The net debt-to-equity ratio stood at 2.25, while the liquidity ratio reached 1.53, among the strongest in the aviation industry.

    During the year, Vietjet successfully issued 50 million shares, increasing equity by VND5 trillion (approx. SGD245.5 million), to support long-term growth.

    Strengthening International Cooperation and Long-term Investment

    In 2025, Vietjet took delivery of 22 new aircraft, representing its largest fleet expansion since its establishment and reinforcing capacity for the next phase of growth.

    The airline also signed an agreement with Airbus to purchase 100 A321neo aircraft, alongside a separate contract with Rolls-Royce for 92 Trent 7000 engines and comprehensive maintenance services, valued at US$3.8 billion (approx. SGD4.83 billion).

    In December, Vietjet Thailand received its first Boeing aircraft, expanding the group’s fleet scale ahead of 2026.

    Vietjet continued to invest in talent and training through international-standard pilot training partnerships. In 2025, Vietjet Aviation Academy (VJAA) trained more than 162,000 trainees through 15,198 courses; proactively developing pilots, technical staff, ground operations staff and other aviation professionals to meet rising industry demand.

    At Long Thanh International Airport, the airline marked two key milestones: the topping out of its international-standard aircraft maintenance hangar and the operation of its first flight to the under-construction airport.

    Strengthening Customer Experience Through Innovation, Technology and Global Awards

    Vietjet expanded and diversified its customer experience through offerings such as Business class tickets, the SkyJoy loyalty program, in-flight retail, multi-channel booking and payment platforms, and its AI virtual assistant, Amy. The airline also introduced culturally themed onboard programs during major regional festivals such as Chuseok (Korea), Holi and Diwali (India), among others.

    Operational upgrades included expanded check-in facilities, self-handled ground services at Tan Son Nhat, Vietnam’s busiest airport, and accelerated adoption of advanced operational technologies such as real-time flight monitoring, data management systems, and biometric identification to improve efficiency and service quality.

    In 2025, Vietjet received multiple international accolades for safety, sustainability, and customer experience, including recognition by AirlineRatings, the World Travel Awards, and Brand Finance.

    With strong financial performance, a rapidly expanding fleet, deepened international cooperation and reinforced operational capacities, Vietjet enters 2026 well positioned to pursue sustainable growth and global expansion.

  • BNP Paribas Boosts Philanthropy Efforts with New Donor-Advised Fund Platform in Asia

    BNP Paribas Boosts Philanthropy Efforts with New Donor-Advised Fund Platform in Asia

    BNP Paribas Wealth Management has bolstered its philanthropic operations by unveiling a new donor-advised fund (DAF) platform in Asia. The platform, dubbed the “BNP Paribas Bridge Foundation,” is dedicated to assisting Asian entrepreneurs, affluent individuals, and family-run enterprises seeking a robust, well-governed method for conducting philanthropic activities.

    The Foundation operates within the framework of Singapore’s financial and legal system, supervised by a governance board comprising both internal and external professionals. The team’s expertise spans philanthropy, impact investing, and the Asian charitable sector.

    A DAF is a specialized structure intended for philanthropic contributions. Its primary advantages include potential tax benefits and the retention of advisory rights.

    The rise of philanthropy as a key aspect of the entrepreneurial journey in Asia is notable, shifting the focus from wealth accumulation to creating a lasting legacy. The Bridge Foundation caters to this vision by offering a secure and efficient platform for philanthropic donations, adhering to the highest standards of governance and compliance. Arnaud Tellier, BNP Paribas Wealth Management’s CEO in Asia-Pacific, emphasized this point in his remarks on the launch.

    Questions & Answers

    What is the BNP Paribas Bridge Foundation?
    The BNP Paribas Bridge Foundation is a newly launched donor-advised fund platform in Asia by BNP Paribas Wealth Management. It aims to assist Asian entrepreneurs, high net worth individuals, and family offices in their philanthropic activities.

    What are the advantages of a donor-advised fund (DAF)
    A DAF is a vehicle specifically designed for charitable giving. The main benefits include potential tax advantages and the retention of advisory privileges.

    How does the BNP Paribas Bridge Foundation operate?
    The Foundation operates within the framework of Singapore’s financial and legal system. It is governed by a board consisting of both internal and external professionals with experience across philanthropy, impact investing, and the Asian charitable sector.

  • Discover Real Filipino Fun: Play Pusoy Card Game Online on GameZone

    Discover Real Filipino Fun: Play Pusoy Card Game Online on GameZone

    Play authentic Filipino Pusoy card game online on GameZone—safe, fair, PAGCOR-licensed, and packed with bonuses, excitement, and nonstop entertainment anytime.

    If you’ve been craving a fun, exciting way to play the Pusoy card game—the same one you enjoy during reunions, fiestas, or barkada nights—then you’re in for a treat. You no longer need a full table of players or a long weekend to enjoy Pusoy card game. Thanks to GameZone, the Philippines’ most trusted PAGCOR-licensed gaming platform, you can now play Pusoy anytime and anywhere with real players.

    Just head over to gzone.ph, log in, and explore a world filled with Filipino favorites like Tongits, Pusoy Dos, Color Game, and of course — the classic Pusoy card game that has been loved for generations. Whether you’re a complete beginner or a seasoned strategist, GameZone offers a smooth, exciting, and rewarding experience that captures the essence of true Filipino gameplay.

    Why Pusoy Has Become a Filipino Classic

    Locally known as Pusoy and internationally as Chinese Poker, this iconic card game has remained a cultural staple in the Philippines. It’s more than a pastime—it’s a mix of strategy, skill, fun, and Filipino bonding.

    Players get 13 cards and must create three separate hands:

    • Top hand (3 cards)
    • Middle hand (5 cards)
    • Bottom hand (5 cards, strongest)

    You’ll need sharp decision-making to build the most powerful combinations while outsmarting opponents. That perfect balance of luck and strategy is exactly why Filipinos love it.

    GameZone keeps that tradition alive by bringing Pusoy card game into the digital world while preserving everything you love about the classic gameplay.

    Why GameZone Is the Best Place to Play Pusoy Online

    GameZone is not just another gaming website — it’s one of the Philippines’ most trusted entertainment hubs. Here’s why players choose it every day:

    1. A Safe, Legal, and PAGCOR-Licensed Platform

    You’re not just playing for fun—you’re playing in a secure, fully regulated digital environment.

    GameZone operates under a PAGCOR license, ensuring fairness, transparency, and player protection.

    You can focus on strategy, not security concerns.

    1. Real Filipino Gameplay — Just Like Home

    GameZone’s version of Pusoy mirrors traditional Filipino rules and scoring.

    If you’ve played Pusoy card game before, everything will feel familiar—only smoother, faster, and more exciting.

    1. Play 24/7 Anywhere You Are

    Whether you’re relaxing at home, stuck in traffic, or waiting in line, Pusoy is always just a tap away.

    GameZone is optimized for both mobile and desktop, ensuring buttery-smooth gameplay on any device.

    1. Earn More With Daily Rebates + Bonuses

    Every bet matters on GameZone.

    With the Daily Rebate Program, you earn back a percentage of your wagers every single day.

    Unlock the Silver Level and enjoy rebates of up to 8%, making your gameplay more rewarding whether you win or lose.

    Plus, seasonal promos, bonuses, and events keep the fun going all year round.

    1. Social, Competitive, and Community-Driven

    Pusoy is best enjoyed with others — and GameZone keeps that spirit alive.

    Play with real Filipino players, chat, challenge others, and celebrate big wins together.

    It’s fiesta energy, now available online.

    How to Play Pusoy on GameZone (Quick Guide)

    If you’re new to the game, GameZone makes learning super easy. Here’s how it works:

    1. Receive Your 13 Cards

    You must arrange them into three poker-style hands:

    • Top (3 cards)
    • Middle (5 cards)
    • Bottom (5 cards, strongest)
    1. Arrange Hands Carefully

    Your bottom hand must be the strongest, followed by the middle, then the top.

    1. Score Points by Winning Hands

    Points are compared per level.

    The player with the best overall sets wins the round.

    GameZone’s interface comes with tutorials, guides, and smooth visual animations—perfect for beginners and experts.

    Expert Tips to Win More Pusoy Games on GameZone

    Want to level up your game? Try these simple but powerful strategies:

    • Understand Card Rankings

    Learn which combinations dominate: straights, flushes, full houses, and more.

    • Spread Strength Wisely

    Avoid stacking all powerful cards in one hand. Good balance wins more rounds.

    • Read Opponents’ Patterns

    Observe how other players arrange their hands. Great players read tendencies.

    • Practice Regularly

    The more you play, the faster you recognize strong combinations.

    • Take Advantage of Bonuses

    Use rebates and promos to extend your playtime and maximize value.

    These strategies can significantly boost your chances of winning.

    From Fiesta Tables to Digital Play: Pusoy’s Evolution

    For decades, Pusoy card game has been part of joyful Filipino gatherings—played during fiestas, family reunions, and weekend hangouts.

    People cheered, joked around, and celebrated every winning hand.

    GameZone has captured that same energy and brought it online, letting Filipinos enjoy the game anytime while preserving the camaraderie and excitement.

    It’s modern gaming with a Filipino heart and nostalgia.

    A Reminder: Play for Fun, Play Responsibly

    GameZone encourages responsible gaming. Online games should be enjoyed for entertainment—not used as a financial solution.

    Gambling is not a sustainable way of livelihood.

    Play smart. Set limits. Enjoy responsibly.

    Final Thoughts: Your Pusoy Adventure Begins on GameZone

    The Pusoy card game on GameZone offers the perfect mix of tradition, excitement, strategy, and modern convenience. Whether you’re reliving old memories or discovering the game for the first time, GameZone gives you the best Filipino gaming experience—fair, secure, and full of fun.

    If you want authentic gameplay, real competition, daily rebates, and a trusted PAGCOR-licensed platform, your Pusoy journey starts right here.

    Shuffle your cards. Trust your instincts.

    Play Pusoy the Filipino way — only on GameZone.

    FAQs About Playing Pusoy on GameZone

    1. Is the Pusoy card game on GameZone the same as traditional Pusoy?

    Yes. GameZone follows authentic Filipino rules and scoring systems to give players a traditional and familiar experience.

    1. Is GameZone legal and safe to use?

    Absolutely. GameZone is fully licensed by PAGCOR, ensuring secure, fair, and regulated gameplay.

    1. Can I play Pusoy on my phone?

    Yes! GameZone works smoothly on both mobile and desktop devices.

     

  • Experience the Future of Retail: 7-Eleven Opens Innovative Concept Store in Hong Kong’s Kai Tak Sports Park

    Experience the Future of Retail: 7-Eleven Opens Innovative Concept Store in Hong Kong’s Kai Tak Sports Park

    7-Eleven Hong Kong has recently unveiled an innovative concept store within the boundaries of the burgeoning lifestyle and sports center, Kai Tak Sports Park. This modernized store model breaks the mold of traditional convenience store layouts and aims to offer a unique experience to its patrons.

    Creating a Unique Customer Experience

    The new 7-Eleven store, with a larger floor space, is designed to serve both the local residents and tourists visiting the Sports Park. It retains the essential convenience aspect that 7-Eleven is known for, while incorporating new features to encourage shoppers to spend more time exploring the store.

    The store is pushing the boundaries of its traditional merchandise range, now featuring stylish collectibles, toys, and the increasingly popular blind boxes, in addition to its standard ready-to-eat hot food and 7Cafe items.

    Themed Zones: A New Addition

    In an effort to diversify the shopping experience, the store layout incorporates a series of themed zones. One such zone is the Fun Zone, which caters specifically to K-pop enthusiasts with a selection of idol merchandise and collectible card machines. Another noteworthy addition is the Pet Zone, which offers a variety of pet accessories, snacks, and even a chilled gourmet pet cake line from Lifetastic Petisserie.

    Patrick Lui, Managing Director of 7-Eleven Hong Kong and Macau at DFI Retail Group, spoke enthusiastically about the new store format: “This new opening represents another progressive step for 7-Eleven Hong Kong in our ongoing quest to remain on trend, relevant, and closely engaged with our customers. We’re extremely grateful to our entire team for helping bring this concept to fruition. For those who haven’t yet visited, we invite you to come and experience it for yourself!”

    Aligning with Broader Business Strategy

    The launch of this concept store aligns with 7-Eleven Hong Kong’s broader business strategy to combine everyday convenience with an expanded product range and an experiential retail environment, in response to the changing consumer expectations.

    Looking beyond the borders of Hong Kong, 7-Eleven in the United States is also advancing at a rapid pace. The company has plans to open 1300 new stores by 2030, reinforcing foodservice as a key area for future development.

    Questions & Answers

    What is unique about the concept store that 7-Eleven Hong Kong has opened?
    The new store offers an enhanced shopping experience with expanded merchandise categories, introducing themed zones like the Fun Zone and Pet Zone for a more engaging customer experience.

    How does the concept store align with 7-Eleven’s broader strategy?
    The concept store is part of 7-Eleven Hong Kong’s broader strategy to meet evolving consumer expectations by blending usual convenience with a wider product mix and incorporating experiential retail elements.

    What are 7-Eleven’s growth plans in the United States?
    In the United States, 7-Eleven plans to open 1300 new stores by the year 2030, with a strong emphasis on expanding its foodservice offerings.

  • Vietnam’s Gold Prices Take a Dip Amid Global Bullion Rise: Market Watch

    Vietnam’s Gold Prices Take a Dip Amid Global Bullion Rise: Market Watch

    On Friday, gold prices in Vietnam experienced a dip while global bullion prices noted a hike. The price of a gold bar from the Saigon Jewelry Company witnessed a decrease of 1.01%, bringing its value down to VND175.4 million (US$6,757.33) per tael. Each tael weighs 37.5 grams or 1.2 ounces. This price adjustment was reflected among other sellers in the market.

    In the past two days, local bullion prices have seen a decline of 2.66%, standing at VND20 million more per tael than their international equivalents. However, the price of gold rings increased by 0.23%, bringing its cost to VND174.9 million per tael.

    Global Gold Market Dynamics

    Globally, the gold market managed to recover from its early losses on Friday. However, it is expected to report a consecutive weekly decrease as a result of the global tech equity rout and a strengthened U.S. dollar, which have overshadowed the gains the metal experienced during an initial recovery earlier this week.

    Spot gold experienced a 0.4% increase, reaching $4,790.80 per ounce. Despite this, it recorded a 1.4% decrease for the week. Meanwhile, U.S. gold futures set for April delivery witnessed a 1.7% decline, dropping to $4,806.50 per ounce.

    According to Ilya Spivak, head of global macro at Tastylive, “Risk appetite appears to be diminished as stocks are down, and we’re noticing a significant breakdown in Bitcoin. These factors indicate a general weakening of risk sentiment. In such a scenario, while gold is proving resilient, silver is succumbing to the risk-off environment.”

    The US Dollar Performance

    The U.S. dollar remained steady near a two-week high and is expected to record its strongest weekly performance since November. A stronger dollar elevates the cost of greenback-priced assets for holders of other currencies.

    Questions & Answers

    What was the decline in the price of gold in Vietnam?
    The price of a gold bar from the Saigon Jewelry Company decreased by 1.01%, reducing its value to VND175.4 million per tael.

    How did global gold prices perform?
    Despite recovering from early losses and rising by 0.4%, spot gold was down by 1.4% for the week.

    What effect does a stronger U.S. dollar have on greenback-priced assets?
    A stronger U.S. dollar makes greenback-priced assets more expensive for holders of other currencies.