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  • Arcadia to launch first stores in mainland China

    Arcadia to launch first stores in mainland China

    A deal struck with local retailer ShangPin will see five stores open in the country, with a further 75 in the pipeline if the venture is a success. Topshop opened its first store in Hong Kong in 2013 and Green has been eying further expansion for a number of years.

    The Arcadia Group chairman said the deal would “cement Topshop and Topman’s mission of becoming truly global businesses.”

    He added: “For the first time both brands will deliver high fashion to the shop floor and beyond by opening full scale stores in China – host to the world’s largest growing retail economy.”

    Department store House of Fraser is also poised to open its first Chinese store in Nanjing at the end of this month.

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  • Miniso targets 6000 stores by 2020

    Miniso targets 6000 stores by 2020

    Chinese discount brand Miniso expects to open 6000 stores worldwide by 2020, co-founder Ye Guofu has told a conference in Singapore.

    He was speaking at a three-day investment conference hosted by Miniso and attended by more than 250 agents, potential agents and suppliers from 100-plus countries.

    Following the event, Miniso signed a strategic co-operation agreement with the Mazuli Group from Israel.

    Also from Miniso at the event, named “Hello! World Miniso – Saiman Fund International Conference on Global Investment”, were global co-founder/chief designer Miyake Junya, Asia-Pacific VP Li Minxin and international department director Huang Zheng.
    While established for only three years, Miniso has opened more than 1400 stores in more than 40 countries and regions. Its global revenue reached RMB5 billion (US$719 million) last year and expected to exceed RMB10 billion this year.

    To help conference attendees understand the brand’s rapid development, Junya spoke about the “Miniso model”, using the brand’s development in Singapore as an example. Miniso launched three stores in Singapore simultaneously, and within a year was able to open more than 20 stores. As well as its quick development, its turnover rates repeatedly set sales records and it grew faster than any other retail brands.

    Junya believes its success is because of its powerful brand, its “high quality, creativity and low price”, the special experience if offers shoppers, and its efficient and reliable supply chain.
    Guests were invited to visit five major Miniso stores in Singapore and one warehouse.
    As a fast-to-market brand, Miniso launches new products every three days and completes goods circulation through retail outlets every 21 days.
    Ye Guofu spoke about the essence of a brand with competitiveness, saying he believes there is no essential difference between online and offline.

    He says the traditional retail industry must undergo transformation, not only because of the impact from eCommerce, but most importantly because of consumers’ ever-growing cleverness.

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  • The rupiah may soon have three fewer zeros

    The rupiah may soon have three fewer zeros

    Indonesia’s central bank governor said yesterday that the bank is seeking to slash three zeros off the face value of rupiah notes to simplify its currency system.

    Bank Indonesia Governor Agus Martowardojo said he has asked President Joko Widodo to revive a previously shelved plan to redenominate the rupiah to make it “more efficient and simpler”.

    A draft law backing redenomination was submitted to parliament in 2013, but it was put aside due to instability in Indonesia’s financial markets then

    If approved, the central bank would need two years to prepare new notes and another seven years of transition, Mr Martowardojo s.aid.

    “Prices of goods and services have to also be simplified. Because of the transition period, in which people can use both the old and new rupiah denominations, we are sure it wouldn’t affect inflation,” he said at the launch of a new series of new currency designs.

    The largest rupiah denomination is currently 100,000 and the smallest is 1,000.

    Indonesian Finance Minister Sri Mulyani Indrawati said she would discuss the proposal with parliament. However, it is not on the list of current legislative priorities for next year.

    “A redenomination would strengthen assurance in Indonesia’s currency, but it does not affect anything nominally,” she told reporters.

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  • Apparel recovery evident in US retail sales

    Apparel recovery evident in US retail sales

    Apparel was  stand-out category in a mixed month of fortunes for US retailers in November.

    According to official government data, US retail sales rose by just 0.1 per cent month-on-month, or 3.8 per cent year-on-year, including motor vehicles and petrol.

    Within core retail categories, apparel sales grew by 1.9 per cent year-on-year.

    “This may sound fairly subdued, but it is much better than the year-to-date growth rates which have seen volumes and prices slip,” observes Neil Saunders, CEO of retail consultancy Conlumino.

    “That said, most of this is down to weather that is much more conducive to sales compared to last year’s most unseasonal temperatures which left much winter wear hanging on the rails.”

    Saunders says that while at headline level November data suggested a good month for retail with strong overall growth across most parts of the sector, “in reality, it was a very choppy month with a great deal of variation between the weeks”.

    It was also a month affected by the election, the uncertainty from which hurt sales during October and the first week of November.

    “Fortunately, once the election was over some of the latent demand produced a much better growth figure in week 3. During this week furniture retailers and home improvement retailers put in a particularly good performance, the latter being aided by the onset of colder weather. “Early discounting in the period before Black Friday also helped to stimulate demand during this week. The run-up to Thanksgiving also saw a solid performance from grocery stores which, despite some ongoing deflation, notched up some reasonable volume uplifts,” said Saunders.

    As the month moved into Thanksgiving and Black Friday week, growth moderated to more subdued levels. “The Black Friday weekend was a fairly lackluster affair, partly because many shoppers had snagged bargains well before the event. The performance from physical retailers was poor over this period, with some anemic numbers coming from department stores.”

    Saunders said rising gas prices were starting to show in the US retail sales figures.

    “This has the potential to act as a brake on retail consumer spending as we enter the Christmas period. Overall, however, Conlumino maintains its view that it will be a reasonable, though not spectacular, holiday period.”

  • OneWeb secures $1.2b from Softbank-led investment

    OneWeb secures $1.2b from Softbank-led investment

    OneWeb has raised $1.2 billion in a new funding round led by Japan’s Softbank, bringing in fresh capital for the US satellite startup to compete with Elon Musk’s SpaceX.

    Softbank is investing $1 billion of the total $1.2 billion and has become a strategic partner, with one of its directors, Ronald Fisher, joining OneWeb’s board of directors.

    The remaining $200 million will be funded by its current investors, which include Airbus Group, Bharti Enterprises, Intelsat-owned Hughes Network Systems, Qualcomm, and Virgin Group. The transaction is expected to close in the first quarter of 2017.

    OneWeb said the money will be used to build a high-volume satellite production plant in Florida, which is expected to create almost 3,000 new engineering, manufacturing and supporting jobs in US over the next four years.

    “With this new round of funding and based on our rapid technical progress over the past year, we also announce a much larger goal: to fully bridge the digital divide by 2027, making internet access available and affordable for everyone,” said OneWeb founder Greg Wyler.

    The new facility, which will begin production in 2018, aims to produce 15 satellites each week “at a fraction of the cost of what any satellite manufacturing facility in the world can produce today,” the company said.

    For Softbank, the $1 billion investment in OneWeb is the first tranche of a $50 billion US investment the Japanese conglomerate’s founder and CEO Masayoshi Son pledged to President-elect Donald Trump.

    “Earlier this month I met with President-Elect Trump and shared my commitment to investing and creating jobs in US,” Son said in a media release. “This is the first step in that commitment.”

    It is also Softbank’s latest attempts to strengthen the company’s foothold in the burgeoning IoT sector. In July, Softbank, which also owns US mobile carrier Sprint, acquired UK chipmaker Arm for a whopping $31 billion to pursue business opportunities in the emerging IoT sector.

    “SoftBank has a long history of investing in disruptive, foundational technologies that promise to help us realize the future sooner. OneWeb is a tremendously exciting company poised to transform internet access around the world from their manufacturing facility in Florida,” Son noted.

    Founded in 2012, OneWeb aims to build a communication network with a constellation starting with 720 low earth orbit (LEO) satellites to deliver affordable, high-speed, low latency internet access to rural areas across the United States and emerging markets.

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  • BHG department stores posting solid growth

    BHG department stores posting solid growth

    Singapore’s BHG department store group has opened its seventh outlet as it trumpets sold sales growth across its network.

    Photo: Straitstimes

    Apparently defying the city state’s widely publicised retail downturn, BHG is achieving solid growth through a focus on refreshing its merchandise mix every six months, running regular in-store promotions and other activities designed to stay “fresh and relevant”, MD Katsuharu Inamoto told the Straits Times in an interview.

    “If we maintain the same merchandise for three years, we will die. Shoppers here are concerned about quality and price. They have the eye to judge and they know what’s in trend.”

    He says BHG has maintained a “low single-digit” sales growth since last year.

    In line with its merchandise focus, the retailer has just introduced two new brands to its line-up: Korea’s Ladykin beauty products and US backpack maker Mi-Pac.

    The new Jurong East store which opened at the weekend, comprises 49,000 sqft over three levels. Two of those floors were previously occupied by rival department store John Little, which had traded in Jurong for 20 years, the third by electronics and furniture retailer Harvey Norman.

    Inamoto said his company had been seeking a suitable space in the city’s west for a long time and was quick to take the opportunity provided by John Little’s departure.

    “The mall has a unique tenant mix and lots of families go there.”

    BHG’s history dates back to 1995 when it opened as Seiyu Wing On, a joint venture between Hong Kong’s Wing On and Japan’s Seiyu department store group. Seiyu later bought out its partner and the business was sold to China’s Beijing Hualian Group in 1995 and renamed.

  • Dsptch Japan opens store in Tokyo

    Dsptch Japan opens store in Tokyo

    US label Dsptch Japan has opened a store in Tokyo, at Crest Omotesando in Shibuya-ku.

    Dsptch is a San Francisco design company that specialises in backpacks, tech cases and camera straps. It focuses on combining practicality with sleek, stylish design. Each piece is fabricated in the US.

    The new store will carry the brand’s full line, as well as complementary clothing and footwear by Descent Allterrain, Isaora and Reigning Champ.

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  • The world’s largest ‘hands-on’ interactive product launch

    The world’s largest ‘hands-on’ interactive product launch

    Ksubaka today revealed the results of the world’s largest hands-on experiential product launch for Milka chocolate brand. In just one month more than 12.4 million consumers had a physical interaction with Milka, learning about the product, its ethos and forming an emotional connection.

    As part of its launch Mondelez China appointed Ksubaka to devise, create and execute a campaign that would get noticed on a scale never seen before. Ksubaka’s media network of 7000+ touch screen playSpots located in over 130 cities across China were used to deliver an in store interactive branded mini game. Consumers were encouraged to learn about the key attributes and history of Milka chocolate through the power of play. To complete the experience shoppers were invited to interlock fingers with a friend (or stranger) to make a Milka chocolate bar, this created a special moment of ‘Tenderness’. Consumers were then encouraged to take a picture and share their moment of tenderness through social channels (and 5,700 did on Weibo) for a chance to visit the origin of Milka – The Alps.

    In just 30 days (October 1st 2016 – October 31st 2016), the campaign has delivered astonishing results;

    • 12.4 Million Shoppers Engaged with the game
    • 299 Million Milka Brand Exposures
    • 81,309 WeChat/Weibo codes scans and shares

    “Ksubaka’s unique experiential campaign, at massive scale, has delivered amazing brand emotion and physical interaction, perfectly fitting with Milka’s brand ethos, that Tenderness is Inside,” said, Stephen Maher, President of Mondelez, China.

    “Brands have always struggled to engage with consumers at the point of purchase, combine that with the pressure online advertising faces to justify its self administered metrics and the opportunity for a new platform that addresses these issues is vast. Our rapidly growing media network is the first to deliver real-time results at the point of purchase at massive scale. Working with Mondelez we have significantly moved the bar to what is expected from a consumer experiential engagement campaign – in just one month millions of consumers have had a physical interaction with Milka, this is the benchmark!” said Julian Corbett, CEO and founder, Ksubaka.

    As one of the billion dollar brands of the Mondelēz International family, Milka chocolate, which originated in the European Alpine area in 1901, is widely popular among customers in more than 30 countries. It is Milka’s insistence on using pure milk sourced from the Alpine areas that has enabled Milka chocolate’s tender taste to last for over a hundred years. Mondelēz China has attached great importance to Milka chocolate as a brand new category in the China market.

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  • Titan Launches Thai Commemorative EDGE Wristwatch

    Titan Launches Thai Commemorative EDGE Wristwatch

    Titan Company Limited, the world’s fifth largest watchmaker and part of the Indian conglomerate giant TATA Group, is releasing a limited edition timepiece in Thailand created especially for the Thai market.

    Titan selected its Red Dot award-winning EDGE, the world’s slimmest wristwatch in the universe, to create the exclusive wristwatch, commemorating the timeless respect and honor for His Majesty the late King Bhumibol Adulyadej.

    The royal emblem marking the 70th Anniversary Celebrations of King Bhumibol Adulyadej’s Accession to the Throne is placed at 12 o’clock and the Thai numeral for nine at 9 o’clock. 

    The Titan Thai Commemorative EDGE wristwatch is available with a black, blue and brown dial and color-matched leather strap. The blue and brown dial watches are set in rose gold plated case while the black dial watch is set in a gold plated case, both of which gives this exclusive wristwatch an extra-special elegance and sophisticated quality. 

    With a total slimness of just 3.6 mm and a wafer-thin movement of 1.15mm, the Titan EDGE is a technological marvel. It is water resistant up to a depth of 30 meters. The classic hallmarks of the EDGE design include a scratch-resistant sapphire crystal glass front, stainless steel case and specially designed slim battery. 

    The inscription, “In Honor of His Majesty the King”, is engraved on the watch back as a tribute to the King, creating a wonderful memento for owners to treasure for years to come.

     “The intricate craftsmanship of the Titan EDGE, its timeless design and incredible innovation resonate with the Thai market,” said Sonia Yamdagni, Managing Director of Omni Co., Ltd., the sole distributor of Titan watches in Thailand. 

    “A sense of  tradition and appreciation for quality are valued and passed along from one generation to the next whilst moving toward a future of hope and success for the country and the Thai people; a symbol of the importance of finding time to give back to the nation and to others,” added Sonia.

    Titan watches are retailed in 32 countries worldwide. The Titan Thai Commemorative EDGE wristwatch, presented in an attractive velvet-lined wooden box, retails at THB 8,900 and is currently available at Central, Robinson and The Mall Group department stores nationwide, including Siam Paragon and Emporium in Bangkok.

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  • Express, Uber team up to tap opportunities in Indonesian market

    Express, Uber team up to tap opportunities in Indonesian market

    Despite its roller coaster relationship with new competitors, publicly listed taxi operator Express Transindo Utama announced on Monday it would team up with ride-hailing application Uber for a ride-sharing integration in hope to improve services and increase revenue.

    Under the collaboration, Express drivers will be able to use Uber’s application to take uberX orders apart from running conventional services.

    “Through collaboration with Uber, we expect to improve the utilization of our fleet,” Express Group chief operating officer Benny Setiawan said in a statement.

    Express, Benny went on, was also developing a scheme that would allow Uber partner drivers to purchase cars from Express through an installment scheme.

    Uber also shared enthusiasm about its partnership with Express.

    “We are enthusiastic that Express Group, a prominent taxi operator in Indonesia, now uses ride-sharing and technology to expand its market,” Uber Asia Pacific head of business Eric Alexander said.

    On March 22, over 10,000 conventional transportation drivers—mostly Express and Blue Bird taxi drivers, as well as drivers of angkot (public minivans), buses and bajaj (three-wheeled vehicles)—took to several thoroughfares in Jakarta to stage a protest.

    The protesters accused the government of failing to regulate increasingly popular app-based transportation services, such as Grab, Uber and Go-Jek, which they say were eroding their incomes.

    During the protest, conventional taxi drivers initially targeted Go-Jek and Grab drivers, though groups of ojek (motorcycle taxi) drivers later retaliated, smashing cab windows.

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  • Lotte, Hyundai, Shinsegae get duty free licenses

    Lotte, Hyundai, Shinsegae get duty free licenses

    Lotte Duty Free, Hyundai Duty Free and Shinsegae DF have snatched licenses for new duty free shops in Seoul, showing that retail specialists will have the upper hand over non-retail firms struggling in the market.

    However, the big three firms still have to brace for harsh competition in the already saturated market, as well as lingering questions about the fairness of the selection process due to possible ties to a corruption scandal engulfing President Park Geun-hye and her confidant Choi Soon-sil.

    The Korea Customs Service (KCS), Saturday, named the three firms as operators for three Seoul-based duty free outlets. Also, it said a fourth license for the city, reserved for small and medium-sized firms (SMEs), was taken by Top City Corp. Busan Duty Free and Alpensia won licenses for outlets in Busan and Gangwon Province, respectively.

    The three conglomerates are retail giants that run department stores in the country. Market watchers say their experience and expertise in attracting luxury brands as well as managing and running their stores worked favorably for them in the KCS evaluation.

    All three conglomerate-run shops will be based in southern Seoul. Hyundai, which earned the highest score in the KCS evaluation, will open an outlet near COEX in Samseong-dong. Lotte will reopen an outlet in its landmark Lotte World Tower in Jamsil. Shinsegae will have one in Central City in Seocho-gu.

    So far, most of the large duty free stores have been located north of the Han River. Top-seller Lotte Duty Free’s main store is located in Sogong-dong, while Shilla Duty Free is in Jangchung-dong and Dongwha Duty Free is in Sajik-dong. The combined earnings of the three outlets last year reached 3.85 trillion won.

    Market observers expect the fresh selection will create an opportunity to draw more tourists to southern Seoul and meet the growing demand for duty free shops in the region. According to the Korea Tourism Organization, the number of foreign tourists in those regions grew an average 19 percent annually from 2012 to 2015.

    With the new selections, however, more competitors are added to the already saturated duty free market in Seoul. Currently, nine duty free outlets are in operation in the city and the four companies will open their new stores next year.

    Data shows that the market is displaying signs of a widening gap between firms. Five duty free outlets that began operation after the government granted licenses last year have posted billions of won in operating losses.

    In the first three quarters this year, a Shinsegae shop in Myeongdong posted an operating loss of 37.2 billion won. Galleria Duty Free 63 on Yeouido and HDC Shilla Duty Free in Yongsan each recorded 30.5 billion won and 16.7 billion won in operating loss.

    SM Duty Free in Jongno-gu, which opened as an SME shop, also suffered a 20.6 billion won operating loss in the same period. Doota Duty Free in Dongdaemun did not disclose its data, but reportedly it posted an operating loss of 27 billion won in five months after opening in May.

    Another factor casting concern is the ongoing controversy that the selection was allegedly affected by Choi Soon-sil. Lotte and SK, which were among the candidates for the fresh selection, donated money to two nonprofit foundations controlled by Choi and the prosecution is suspecting the money worked in favor of the two companies.

    With Lotte winning one of the licenses, the controversy is likely to grow.

    The main opposition Democratic Party of Korea (DPK) said Sunday it is “suspicious of the KCS decision to press on with the selection process even though a special inspection over the scandal is ongoing regarding the matter.”

    The KCS said last December there would be no more selection for duty free operators but suddenly decided to offer more licenses in April.

    “There have been suspicions that SK Group head and President Park met privately over the duty free shops,” said DPK spokeswoman Park Kyung-mee.

  • Indonesia, Michelin Cooperate in Tire Exports

    Indonesia, Michelin Cooperate in Tire Exports

    The Indonesian government has joined hands with French tire company Michelin to open market access to Europe and the United States. The plan was proposed in a meeting between Industry Minister Airlangga Hartarto and Vice President Public Affairs of Michelin East-Asia and Oceania Segsarn Trai-Ukos in Jakarta last week.

    According to Airlangga, the government and Michelin will also cooperate in aircraft tire retreading. “Michelin has developed tire retreading in Thailand,” he said yesterday.

    He said that Michelin technology can help develop aircraft tire retreading in Indonesia and reduce negative perception of retreaded tires. High-tech retreaded tires can help lower airline costs and boost growth of air transport industry.

    Indonesia and Michelin will also collaborate in utilizing used tires. According to Airlangga, Michelin is expected to process used tires into raw material for asphalt. He pointed to the example of 80 million units of two-wheeled vehicles with 160 million tires. “With an average lifespan of 1.5 to 2 years, abundant supply of used tires will be available to be utilized.”

    The Minister also discussed business opportunities with French Ambassador to Indonesia Jean-Charles Berthonnet. Airlangga said that France can become Indonesia’s export gateway to the non-traditional European market.

    He sees France as an important trade partner. In 2015, Indonesia’s import value from France hit US$1.3 billion for aircraft components, vehicles, machinery, milk, and pharmaceutical. Whereas, Indonesia’s export to France worth US$972 million, which include footwear, rubber, furniture, clothing, and coffee.

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  • Bank Indonesia releases new notes, coins

    Bank Indonesia releases new notes, coins

    Bank Indonesia released on Monday seven new banknotes and four coins bearing the pictures of 12 national heroes. The launch of the new notes and coins was attended by President Joko “Jokowi” Widodo and Bank Indonesia governor Agus Martowardojo in Jakarta, Antara news agency reported.

    The new notes are the Rp100,000, Rp50,000, Rp20,000, Rp10,000, Rp5,000, Rp2,000 and Rp1,000, while the new coins are Rp1,000, Rp500, Rp200, and Rp100.

    Indonesia’s founding fathers, Soekarno and Mohammad Hatta, will be featured on the Rp100,000 note, while Djuanda Kartawidjaja and Sam Ratulangi are on the Rp50,000 and Rp20,000 notes, respectively.

    Other national heroes featured are Frans Kaisepo, Idham Chalid, Mohammad Hoesni Thamrin, Tjut Meutia, I Gusti Ketut Pudja, TB Simatupang,  Tjiptomangunkusumo and Herman Johannes.

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  • Toyota Indonesia to see exports down by 5 percent this year

    Toyota Indonesia to see exports down by 5 percent this year

    Car manufacturer PT Toyota Motor Manufacturing Indonesia (TMMIN) expects to see its exports fall by 5 percent this year mainly due to low demand in the Middle East.

    TMMIN vice president director Warih Andang Tjahjono said, a protracted security crisis in the Middle East and global oil price decline had impacted car demand in the region. Thus, the company will see its car exports down to 165,000 units this year from 176,000 units last year.

    Car exports to Saudi Arabia, which makes up 50 percent of the company’s exports to the Middle East, saw a 30 percent decline this year, the biggest in the region. The Middle East and Asia are the biggest markets for Toyota cars, contributing more than 50 percent to the company’s exports, Warih said.

    While demand in the export market declined, domestic demand for Toyota cars has grown above the industry’s average.
    As of November, Toyota car sales had risen by 19 percent year-on-year compared to the corresponding period last year, Toyota Astra Motor vice president director Henry Tanoto said.
    “We predict our domestic car sales will reach between 375,000 and 380,000 units by year-end,” he said

  • India to start screening of imported telecoms gear in April

    India to start screening of imported telecoms gear in April

    The Indian government is reportedly planning to start screening imported telecoms equipment used in mobile networks and handsets from April 1, 2017, following several implementation delays over the last three and a half years.

    The government has assigned labs under a state-owned quality control agency, Standardisation Testing & Quality Certification (STQC), to undertake the screening of imported mobile network gears, feature phones and smartphones in the interest of national security, the Economic Times reported.

    Initially, local screening will be conducted in phases by identifying network gear deemed most vulnerable, the Economic Times cited a senior official at Department of Telecom (DoT) as saying.

    The government’s immediate objective is to also ensure that local screening does not create supply-chain bottlenecks or disrupt mobile network rollouts or expansions, according to another source familiar with the matter.

    Accordingly, the DoT plans to invite companies from the private sector to set up more accredited labs to screen imported network gear, and develop a full-blown local testing ecosystem.

    However, the government has received a lukewarm response from the private sector due to the lack of a viable funding mechanism.

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