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  • Stores push deals in bid to lure holiday shoppers

    Stores push deals in bid to lure holiday shoppers

    Nearly 156 million people — or 66 percent of Americans — plan to or are considering taking advantage of Saturday sales to complete their holiday gift lists, according to a survey released Friday by the National Retail Federation and Prosper Insights & Analytics. The survey found that more people said they planned to shop on Saturday than those who aimed to shop over Thanksgiving weekend in an earlier survey.

    Still, given the quirk in the calendar that makes this weekend the last full weekend before Christmas, retailers including Best Buy, Gap and J.C. Penney, have set an earlier deadline to order holiday gifts this year, according to StellaService, which tracks online services at retailers. Wal-Mart, along with others, is encouraging online shoppers to pick up their merchandise at the store.

    Target will be offering last-minute shoppers deals that are good only for a day on certain in-demand products like children’s sleepwear and fragrance sets.

    Still, plenty of shoppers plan to take their time.

    Christine Bunker Tobia of Queens says she mostly shops at Macy’s but likes to wait to get the best deals. She’s been stopping by Macy’s New York Herald Square store often to check the prices.

    “I’m looking for a special sale,” she said last weekend. “I may wait another week.”

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  • Qualcomm to support Google’s Android Thing IoT platform

    Qualcomm to support Google’s Android Thing IoT platform

    Qualcomm announced that it plans to work with Google to add support for the search giant’s new IoT operating system, Android Things, in its Snapdragon processors.

    In a statement released Wednesday, Qualcomm said the collaboration with Google will focus on developing both “consumer and industrial applications” and the initiative would help a vast number of developers participate in the IoT opportunity.

    “We anticipate Android Things running on Snapdragon processors will offer developers familiar connectivity environments, including cellular, Wi-Fi, and Bluetooth; support for a wide array of sensors; camera, graphics, multimedia, and rich UI capabilities; hardware-based security; Google services and cloud integration; test and optimization tools, and more – allowing for rapid development of scalable, cost-effective and security-focused IoT solutions,” Qualcomm said.

    Although Android Things is currently in a developer preview stage, Qualcomm noted the platform is expected to be released more broadly on Snapdragon processors next year.

    Qualcomm’s announcement came a day after Google launched a preview of the new IoT platform which it said would enable developers to quickly build smart devices using Android APIs and Google services.

    In a blog post on the Android Developers’ Blog, Google said Android Things incorporates feedback received on its Project Brillo IoT OS and will include tools such as Android Studio, the Android Software Development Kit, Google Play Services, and Google Cloud Platform.

    Google will also offer Developer Preview updates in the coming months to provide the infrastructure necessary to securely push OS patches, security fixes, a developer’s own updates, built-in Weave connectivity and more, the search giant added.

    Google is also updating its IoT communication platform Weave to help facilitate cloud connectivity for all types of devices so they can interact with services like Google’s Assistant.

    “This is just the beginning of the IoT ecosystem we want to build with you,” Google developer advocate Wayne Piekarski wrote in the blog post.

  • More Singapore Airlines flights for Sydney, Melbourne, Brisbane

    More Singapore Airlines flights for Sydney, Melbourne, Brisbane

    Singapore Airlines is ramping up flights to Sydney, Melbourne and Brisbane in 2017, a year which marks the airline’s 50th anniversary in Australian skies.

    Melbourne will see a fifth flight appear on the schedule from 17 July 2017, with the new SQ247/248 operating on Monday, Friday and Saturday.

    The SQ247 Airbus A330 service will depart Singapore at 2am and arrive in Melbourne at 11.25am; SQ248 leaves Melbourne at 12.40pm to reach Singapore at 6.30pm.

    In addition, from January Melbourne’s SQ227/228 will step up to a four-class Boeing 777-300ER with the Star Alliance member’s new premium economy class.

    Brisbane will see SQ265/266 tick over to a daily frequency from 22 August 2017, up from the current four flights a week; it’ll stay on a Boeing 777-200ER aircraft with a fully-flat business class bed for the overnight flight between Brisbane and Singapore.

    Sydney is also gaining extra flights. Beginning 4 June 2017, SQ251/252 will be bumped up from three times weekly to five times weekly, while SQ231/222 will continue as a four-class Airbus A380 from 18 June to 30 September 2017.

    2017 will also see Singapore Airlines boost flights to popular cities in Europe and Asia – including Rome, Moscow and Bangkok – with a new via Moscow route to Stockholm.

  • BlackBerry, TCL sign smartphone licensing agreement

    BlackBerry, TCL sign smartphone licensing agreement

    BlackBerry has agreed to license its brand to China-based handset manufacturer TCL Communications.

    The companies entered a licensing agreement last week which will allow TCL to design, manufacture and distribute BlackBerry-branded phones globally going forward. The devices made by TCL will be coupled with BlackBerry’s security software and service suite.

    “BlackBerry will continue to control and develop its security and software solutions, serve its customers and maintain trusted BlackBerry security software, while TCL will manage all sales and distribution and serve as a global distributor of new BlackBerry-branded mobile devices along with dedicated sales teams,” the company said on Thursday.

    The agreement is the struggling Canadian smartphone maker’s first licensing deal since its announcement to transition to a software company.

    BlackBerry said in September that it would stop producing its smartphone hardware and concentrate on software, a decision which followed a year-long review of the potential profitability of the company’s hardware business by CEO John Chen.

    The new agreement will give TCL, the fourth-largest handset maker in North America, the right to make and sell BlackBerry-branded smartphones in all countries except India, Sri Lanka, Nepal, Bangladesh and Indonesia, where BlackBerry has already struck local licensing deals.

    Prior to this licensing deal, BlackBerry launched two smartphones – the Android-based DTEK50 and DTEK60 – in September and November respectively, which were made under an agreement with TCL.

    Industry watchers said this deal might be a boost for BlackBerry from a short-term financial standpoint by reducing BlackBerry’s operating risk, working capital requirements and potential R&D spend which would have otherwise gone into designing new phones.

    While the deal has an upside, it also exposes BlackBerry to a different kind of a security risk that might drive security-conscious consumers away from the brand and eventually hurt sales.

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  • Luxury goods feature in UK accord for South Korea trade talks

    Luxury goods feature in UK accord for South Korea trade talks

    The pending talks with South Korea follow similar dialogues the UK has opened with Australia, China, the Gulf Cooperation Council, India, New Zealand and Norway

    London: The UK and South Korea are set to to begin regular trade talks, with luxury brands a particularly promising topic, as Britain prepares to expand its commercial reach once it has left the European Union.

    A formal working group of ministers from the two countries will meet as many as four times a year to discuss removing barriers to commerce and prospects for “future, ambitious trade opportunities” after the UK exits the EU, the British government said in an statement on Sunday.

    Prime Minister Theresa May has promised to make the UK a leader in liberalising trade around the world after Brexit. Yet Britain is unable to strike its own free-trade deals — or even being formal negotiations — while still a member of the EU.

    “We want to take advantage of all the opportunities available to us to ensure that Britain becomes a global leader in free trade,” UK International Trade Secretary Liam Fox said in an emailed statement. “The agreement of this latest trade dialogue shows that government is preparing for Brexit, not prevaricating.”

    The pending talks with South Korea follow similar dialogues the UK has opened with Australia, China, the Gulf Cooperation Council, India, New Zealand and Norway in the six months since voters chose in a referendum to leave the EU. Trade and investment between the UK and South Korea is worth about 10.9 billion pounds ($13.6 billion) a year, according to British estimates. The UK is the fifth-largest foreign direct investor in South Korea.

    The UK government said in its statement that South Korea is an especially promising market for luxury brands such as Burberry Group Plc, which has 70 stores in the country, and high-end automakers Jaguar Land Rover and Bentley. Other sectors with strong potential include renewable energy and nuclear decommissioning.

    “What we’re doing is putting in place plans to ensure the UK remains open for business and trade links continue to strengthen,” Fox said. “Important like-minded free trading partners like Korea and others are telling us they’ve heard that message loud and clear. Korea itself is a prime example to the world of how free and open trade can lift countries out of poverty to prosperity.”

  • Smart, Nokia conduct Philippines’ first 5G demo

    Smart, Nokia conduct Philippines’ first 5G demo

    The Philippines’ PLDT, through mobile subsidiary Smart, has completed the first showcase of 5G speeds in the nation.

    During the trial the companies achieved a peak speed of 2.5Gbps using 100 MHz of spectrum, as well as a latency of just 1ms.

    The demo was conducted at the Nokia Manila Technology Center in Quezon City, and demonstrated use cases for 5G including 3D 360-degree VR streaming and the Nokia AirFrame data center platform for distributed cloud architectures capable of supporting real-time IoT operation.

    “We are excited to work with Nokia in conducting cutting-edge research and development for 5G,” PLDT and Smart CEO Manuel Pangilinan said.

    “This is a key part of our efforts to transform the PLDT and Smart network into the country’s most future-ready data infrastructure delivering a wide range of gigabit digital solutions.”

    He said 5G will be critical to realizing Smart’s full vision for the IoT. The operator has a track record of investing in and helping drive the development of the IoT, including the founding the Philippines’ first Internet of Everything consortium in 2014.

    Nokia’s Bell Labs predicts that there will be up to 5 billion IoT devices connected through mobile networks by the year 2020.

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  • AirAsia’s New Year offer: Fly at Rs 917 onwards

    AirAsia’s New Year offer: Fly at Rs 917 onwards

    No-frills carrier AirAsia under a New Year offering is selling an all-inclusive tickets starting from Rs 917 onwards, NDTV reported on Monday.

    The Malaysia headquartered carrier’s offer is open till January 1 next year and is valid on travel from March 1 to October 31 in 2017.

    The airline presently flies to 11 destinations with its two hubs in bengaluru and New Delhi covering Chandigarh, Jaipur, Guwahati, Imphal, Pune, Goa, Vizag, Kochi and Hyderabad.

    GoAir is also offering tickets starting Rs 1,057 on specified sectors. The fares are applicable till December 31, GoAir said on its website. The Rs 1,057 fare is applicable on Delhi-Jaipur route.

  • Lotte, Shinsegae and Hyundai win 10-year licenses

    Lotte, Shinsegae and Hyundai win 10-year licenses

    The Korea Customs Service awarded the three biggest remaining 10-year downtown duty free licenses in Seoul to Lotte Duty Free, Shinsegae DF and the Hyundai Department Store yesterday.

    At the same time, ‘Top City’ won the one small, medium enterprise Seoul contract, while the two remaining provincial licenses were gained by Busan Duty Free and Alpensia.

    These results follow the submission of substantial business plans by all parties from last October and an unprecedented and intense effort by South Korea’s market leading duty free retailer Lotte Duty Free. This follows its deep disappointment at losing its duty free license at its Lotte World Tower store last November.

    ALL OR NOTHING BID PAYS OFF FOR LOTTE

    Lotte’s intense last-ditch campaign included a pledge to invest Won2.3 trillion ($1.97bn) on tourist-related investments in the upmarket Gangnam quarter of Seoul between 2017 to 2021.

    In addition, it promised to support small and medium-sized business partners and to attract more than 17m foreign tourists. [Financial criteria was one of the main criteria in the offer evaluations-Ed].

    The operator also gave an unprecedented undertaking to create 34,000 direct and indirect jobs, while creating substantial foreign exchange income.

    The Korean Customs Service (KCS) will now fall under both regulator and media spotlights to make sure these and all other promises by other winning retailers are kept – and especially considering KCS itself has also been the subject of investigations into its conduct recently.

    SOME BIDDERS WILL BE VERY DISAPPOINTED

    There are also some significant losers in this process, with neither SK Networks or Shilla Duty Free’s bids proving successful for any of the big Seoul downtown contracts.

    This will be particularly disappointing for SK, which has long been known for its downtown WalkerHill Duty Free operation which lost its duty free license at the same time as Lotte last November.

    Meanwhile, the ‘soap opera’ continues which has effectively cost President-Park-Geun-hye her job after so enraging the South Korean people.

    All eyes will now be on the ongoing investigation into the activities of Park’s associate Choi Soon-sil, who remains under house arrest charged with abuse of position and attempted fraud.

    Choi is alleged to have ‘persuaded’ various businesses into paying millions of dollars to supposedly government-linked foundations, in return for favours – including some allegedly linked to duty free licenses.

    SK Group head Chey Tae Won and Lotte Group Chairman Shin Dong-bin were both questioned on national television at Seoul’s National Assembly earlier this month – along with several other heads of major companies – but all denied they were ‘persuaded’ to pay monies in return for any favours.

    PUBLIC RELATIONS REPAIR WORK

    Meanwhile, Lotte Duty Free has expressed its thanks for being awarded this latest concession.

    In a statement entitled ‘Adoption of patent company selection‘ which was forwarded to TRBusiness, it said: “First of all, I am most fortunate to have been able to return to my original job with about 1,300 employees who had been in deep anxiety as I waited for work at World Tower in the past six months.

    ‘HEARTFELT GRATITUDE’ EXPRESSED

    “I would like to express my heartfelt gratitude to the jury members for their fair and objective examination to enhance the competitiveness of the duty free industry in Korea, despite the fact that the psychological burden was not so small.

    “We are also grateful to all of our employees who have devoted themselves to the growth and development of Lotte Duty Free as a global duty-free enterprise for the past 36 years.

    “Lotte Duty Free will do its best to faithfully fulfil the contents of the business plan submitted to the KCS in the future. Through aggressive investment and development of Korean Wave content, we will be able to attract foreign tourists and create jobs, as well as coexist with small and medium-sized enterprises, thereby fulfilling our social responsibilities and becoming a more mature company contributing to the local economy and the national economy.

    “Most of all, Lotte Duty Free will do our best to open up the future of tourism in Korea by raising the global competitiveness of domestic tourism industry with greater responsibility.”

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  • Topshop to open 80 stores in mainland China

    Topshop has signed a deal with a Chinese partner that could lead to up to 80 stores being opened in mainland China with the first opening in spring/summer 2017.

    The British high street retailer has agreed a deal with Shangpin, which already sells the Topshop brand on Shangpin.com. It is anticipated that the first store will be opened in either Beijing or Shanghai in the spring or summer of next year.

    In a statement Topshop owner Sir Philip Green said: “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 fastest-growing retail economy.”

    Green owns a 75% stake in Topshop having sold 25% to US private equity firm Leonard Green & Partners in 2012. The brand, which is the jewel in the crown of Green’s Arcadia Group, has 300 stores in the UK and 140 in international territories including 10 in the US.

  • Musgrave wins contract to export Supervalu products to China

    Musgrave wins contract to export Supervalu products to China

    Irish retailer Musgrave is to begin exporting SuperValu own brand products to China.

    It will initially supply up to 40 own brand products – including SuperValu breakfast cereals, coffee, jam, biscuits and healthy snacks amongst a range of other goods.

    Musgrave has agreed a partnership with Alibaba Group, and will use its Tmall Global ecommerce platform to sell directly to Chinese consumers.

    Tmall Global is an overseas platform and an extension of Alibaba Group’s B2C Tmall business – which enables overseas merchants to enter China’s online retail market.

    Musgrave will also open a flagship SuperValu e-commerce storefront on Tmall Global, making it the first Irish retailer with a presence there.

    Musgrave say the storefront will be offered over time “as a potential route to market” for Irish food producers seeking to access China.

    Alibaba’s logistics affiliate, Cainiao Network, will manage the distribution of products.

    Musgrave CEO Chris Martin said: “Our core business in Ireland is performing well and our grocery retail and wholesale brands occupy leadership positions in their respective markets.

    “We are exploring new opportunities to grow our business including export and we are excited by the opportunity to partner with Alibaba Group.

    “In the past five years Chinese consumers are increasingly purchasing overseas through online shopping.

    “We expect that the heritage of SuperValu and the provenance of our products will be attractive to Chinese consumers.”

    David Lloyd, director of UK and Ireland for the Alibaba Group, added: “Chinese consumers have a desire to discover high quality brands from around the world that they can trust and enjoy.

    “Because of Musgrave’s long history of providing quality food produce, we are delighted to be working with them to bring their high quality SuperValu range to Chinese consumers via our Tmall Global platform”

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  • Hong Kong shops struggle as holiday season approaches

    Hong Kong shops struggle as holiday season approaches

    Hong Kong’s retailers are facing an uphill battle to entice customers into their stores a week before Christmas in the final present buying rush, consumer analysts have said.

    The local retail market has been plagued by a dip in sales this year, attributed in part to a plunge in the number of visitors from the mainland, who account for about 75 per cent of tourists to the city.

    In October, retail sales fell for the 20th month by 2.9 per cent to HK$36.1 billion. But the slump had levelled slightly, from a 10.5 per cent fall in August to a 4 per cent dip in September.

    Many shops brought their Christmas promotions forward by at least two weeks this year to counter the sales decline. The city’s more westernised customer base also meant Christmas remained the annual peak retail season, with sales even higher than during Lunar New Year, the Hong Kong Retail Management Association said.

    Retailers have been increasingly trying to target visitors from Thailand and Malaysia because of the drop in the number of mainland visitors.

    The overall number of tourists to the city in October this year showed a 5.7 per cent decline compared with October 2015, from 5,073,494 to 4,953,705. Despite the dip in mainland visitors, there was an increase in those from “long haul markets”, including the United States, Britain and Germany, according to the Hong Kong Tourism Board.

    Retailers also faced strong competition from online outlets such as Amazon Japan and Taobao, which offer many products at heavily discounted prices.

    Cityplaza on Taikoo Shing Road, Quarry Bay was among the malls pulling out all the stops to attract Christmas shoppers. Its “Look Up Live Happy” campaign featured 50 giant teddy bears flying in hot air balloons, a 180-degree photo booth for customers and a symphonic light show.

    Consumer analysts said Hong Kong’s retailers needed to work harder to improve the efficiency of the customer experience, boost their overall customer service, come up with more innovative incentives and promotions, as well as develop their own online shops to remain competitive.

    Tanya Lau, director and head of consumer and retail practice at Harvey Nash Executive Search APAC, said retailers faced “tough global market conditions” and needed to “keep pace” with changing consumer behaviour.

    “For retailers to stay competitive, they need to specifically understand the customer journey and every detail of what they desire,” she said. “They need to [create] a seamless shopping experience … across all platforms. With a week to go until Christmas, making the buying process as easy as possible is essential.”

    Lau said businesses also needed to make technological improvements, such as introducing electronic payments, and providing better online buying services.

    Meanwhile, Professor Leslie Yip, programme leader of retail management at the Technological and Higher Education Institute of Hong Kong, said many locals would rather use their money for holidays than spend it in local shops. He said retailers needed to work harder to ­understand shoppers’ behaviours, and improve the variety and price range of products, and the overall efficiency.

    “The shopping experience here is kind of inefficient,” he said. “There are not enough self-checkout services; many shoppers are impatient for this. [Some retailers] lack variety due to shop space.

    “They should consider that tourists … have limited time yet want to maximise their shopping experience, while local shoppers want to maximise their experience within a given budget.”

    Yip suggested mall owners should explore ways to promote “mall hopping” across their different retail outlets, such as online treasure hunts, as many shopping centres were located within a short distance of one another.

    But Thomson Cheng, head of the Hong Kong Retail Management Association, said he expected Christmas sales to be “stable” after a “tough year for retailers”.

    He said they had made efforts to promote Christmas early this year to beat the slump, and were expecting a boost to sales next month because of an early Lunar New Year. “We are seeing light at the end of the tunnel,” he said.

    “Retailers need to look at how they can contain costs now. February and March next year will be the hardest time. Shops need to nurture local spending.”

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  • Victorious Shinsegae Duty Free unveils bold vision for new Central City store

    Victorious Shinsegae Duty Free unveils bold vision for new Central City store

    Buoyed by yesterday’s success in the dramatic contest for three new downtown duty free licences in Seoul, Shinsegae Duty Free today outlined ambitious plans for its new 13,350sq m store in Central City in the Seoch-gu area of Gangnam.

    As reported globally by The Moodie Davitt Report within minutes of the Korea Customs Service announcement, Shinsegae Duty Free won one of the three five-year licences on offer, along with Lotte Duty Free (gaining a welcome return to its Lotte World Tower store) and sector newcomer Hyundai Department Store. SK Networks (WalkerHill Duty Free) and HDC Shilla (Shilla IPark duty free) missed out.

    Central City is Korea’s largest multi-cultural leisure and entertainment space, featuring the Shinsegae Department Store, a hotel, restaurants, cinema and book stores, all offering what the retailer called a “seamless, one-stop shopping experience”.

    Shinsegae Duty Free CEO Young-mok Sung said: “With the opening of the Central City outlet, Shinsegae Duty Free will be able to provide foreign tourists with unique experiences and contents, including gourmet, shopping, culture and lifestyle offers through various tourism programs and infrastructure.”

    He pledged that Shinsegae Duty Free will promote and develop Korean tourism through free independent travellers (FIT) and strive to “catch the hearts” of foreign tourists.

    Shinsegae Duty Free said it will foster tourism in the southern Seoul area by integrating its general retail and duty free operations.

    The department store and – increasingly over recent years – duty free powerhouse announced that it would invest KW350 billion (US$295 million) over the next five years to improve and promote tourism and shopping infrastructure in the Seocho and Gangnam area surrounding Central City.

    The investment plan features several ambitious developments, including the creation of a 4.6km long ‘Arts Street’ connecting tourist attractions such as the Seoul Arts Center and Sebitseom (a cultural complex on the Han River that consists of three artificial islands).

    Shinsegae also intends to improve the walkways of the popular musical instrument village and develop a guide map for it. Additionally, the company will create a pedestrian walkway within the popular Seoripul Park’s multicultural spaces.

    The company said it will also drive local tourism by creating Hallyu [Korean wave] cultural clusters and building a Korea Tourism Promotion Center to provide national tourism information.

    In line with these plans, Shinsegae Duty Free plans to develop various tourism programmes, including a ‘Premium Gourmet Festival’ that will offer premium restaurant dining experiences at reasonable prices.

    A ‘Medical Tour’ programme will promote the country’s important medical tourism sector, offering consultation and interpretation services, supported by a local tour offer called ‘Korea from end to end’.

    CENTRAL CITY – A ONE-STOP SHOPPING EXPERIENCE

    Shinsegae Duty Free said it selected Central City as the best location for the new store in order to champion local tourism, diversify the travel offer and attract more FIT visitors.

    Shinsegae Duty Free promises to “catch the hearts” of tourists at Central City, described as Korea’s largest multi-cultural leisure and entertainment space

    According to a 2015 survey by Korea Tourism Organization, the number of foreign tourists visiting the area around Central City has increased by +19% annually since 2012. FITs made up 88.6 % of the 2015 total – some 21 percentage points higher than the number of independent travellers visiting Seoul (67.7%).

    Many Chinese independent travellers do not see a Seoul trip as complete without visiting the Seocho and Gangnam areas, Shinsegae said.

    That local popularity has been reflected at Shinsegae Gangnam Department Store (which completed a renewal and expansion in August), where sales to Chinese tourists have increased by almost +200% this year over 2015.

    Gangnam style: Shinsegae Department Store is a hugely popular tourist attraction in the busy shopping district

    Underlining Shinsegae’s description of a “one-stop shopping experience”, Central City is conveniently connected to major public transportation links within Seoul and nation-wide.

    The area boasts 33 city bus and express bus services, as well as the Express Bus Terminal subway station. Gyeongbu and Honam Express Bus Terminal, Seoul’s largest transportation infrastructure used by 40 million people annually, is also located in Central City.

    Shinsegae Duty Free has secured parking spaces that can accommodate 3,600 vehicles and 59 buses. Bus stops will be connected directly to the duty free store to provide maximum shopper convenience.

    Major cultural and art spaces are concentrated around Central City, including over 50 eco-friendly travel spots. The area is the centre of the MICE [meetings, incentives, conventions, and exhibitions] industry and holds around 20 local community festivals annually.

    Additionally, major tourism spots such as Seorae Village, Apgujeong-dong and Itaewon can be easily reached, while various cultural, dining, beauty and medical facilities are also concentrated in the area.

    Shinsegae Duty Free has pledged to promote tourism by signing partnerships with major organisations in Seocho and Gangnam, including Seocho-Gu Office [the local Mayor’s office], Seoul Arts Center, Catholic Sung-Mo hospital and leading restaurants.

    In its proposal to Korea Customs Service, Shinsegae Duty Free forecast that if its new duty free outlet attracts some 8.3 million tourists – representing a +88% boost in visitors to the area over 2015 – tourism spend would be boosted by KW7.5 trillion (US$632 million) over the next five years.

    HELPING KOREA’S SMALL AND MEDIUM ENTERPRISES

    Shinsegae Duty Free has pledged to champion small-to-medium sized (SMEs) producers. It will dedicate 39% of its store to SME wares and introduce various related brands and concepts which retain Shinsegae’s ‘DNA’ such as the ‘Shinsegae Gift Shop’.

    Shinsegae Duty Free’s Myeong-dong store features a magnificent array of Korean artisan products. The retailer plans to also champion local producers at its new shop.

    The retailer will also open a store for new designers’ brands to identify and promote new talent and support local creators.
    Shinsegae Duty Free emphasised that it honoured similar cultural and tourism pledges it made as part of the company’s 2015 bid for its inaugural Seoul downtown licence.

    For example, it opened a Hallyu cultural performance theatre called ‘Boys24 Hall’ in September and ‘Han Soo’, a craftsmanship section, in December.

    As revealed by The Moodie Davitt Report, Fountain Square improvement work and the promised Namdaemun Market revitalisation are also well underway as long-term project. Additionally, a Design Innovation Center, which discovers talented new designers and provides job opportunities, is scheduled to open in the first half of 2017.

    Shinsegae Duty Free is driving the revitalisation of Namdaemun Market, a major tourist attraction.

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  • Alibaba Group raising stake in SingPost

    Alibaba Group raising stake in SingPost

    Chinese eCommerce giant Alibaba Group has been given the go-ahead by Singapore’s stock exchange (SGX) to raise its stake in Singapore Post (SingPost).

    Alibaba Investment, a subsidiary of Alibaba Group Holding, has received in-principle approval from the bourse for the listing and quotation of about 107.6 million new shares in SingPost, says the postal group said in a filing.

    This is subject to compliance with SGX listing requirements, and SingPost shareholder approval.
    Shareholders will be sent a circular with details of the proposed share issuance, and notice of a related extraordinary general meeting.

    The deal aims to be completed by the end of February.

    As Alibaba’s second SingPost investment, it will raise its stake from 10.2 to 14.4 per cent.

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  • Local brand Rusty Lopez opens 9th outlet in Jakarta

    Local brand Rusty Lopez opens 9th outlet in Jakarta

    Filipino fashion retail brand Rusty Lopez opened its newest store in Jakarta on Thursday, featuring comfortable sandals and casuals made from Marikina, the Philippines’ shoe capital, according to a recent report of the Department of Trade and Industry’s Philippine Trade and Investment Center–Jakarta.

    The outlet in Sogo Lippo Mall Puri located in the St. Moritz Central Business District is the brand’s ninth outlet following the opening of stores in Seibu Grand Indonesia, Sogo Emporium Pluit, Sogo Central Park, Sogo Alam Sutera, Lotte Shopping Avenue, Metro Plaza Senayan, Metro Gandaria City and Metro Taman Anggrek.

    Philippine commercial attaché to Indonesia Alma Argayoso said sales of the newest collection during the opening were brisk. The other stores also received positive feedback.

    “It is exciting to bring to the Indonesian market the Philippines’ world-famous Marikina-made shoes. This affirms our belief on the potential of fashion retail products in Indonesia, Southeast Asia’s biggest economy,” Argayoso said.

    The first overseas store of Rusty Lopez opened in Jakarta on March 6, 2016 at the Seibu Department Store of Grand Indonesia Mall and featured selected designs suited to the Indonesian market.

    The Trade Department noted that increased interest in Philippine-made shoes abroad was helping revive the local shoe industry and opening more opportunities for small enterprises.

    PTIC in Jakarta is supporting and assisting Filipino homegrown brands in globalizing their products and accessing the regional markets by looking for potential partnerships.

    Aside from Rusty Lopez, other Filipino fashion retail brands in Indonesia are Karimadon, Penshoppe, Gingersnaps and Ann Ong Jewelry.

     

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  • Toyota recalls 66,830 imported Lexus cars in China

    Toyota recalls 66,830 imported Lexus cars in China

    The Chinese unit of Toyota Motor Corp will recall 66,830 imported Lexus brand vehicles in the country over potential safety issues, China’s quality watchdog said on Friday.

    Some Lexus models, made between June 2014 and December 2016, have problems with their braking software, China’s General Administration of Quality Supervision, Inspection and Quarantine said on its website.

    In October, Toyota issued a recall for about 5.8 million cars in Japan, Europe and China over potentially faulty airbag inflators made by Takata Corp. In June

    The notice urged consumers to immediately contact dealers for inspection and said current stock vehicles will be sold in the absence of defects.

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