Xiaomi Mi Mix now available via Lazada in Singapore
Xiaomi fans in Singapore are in for a treat as the Mi Mix concept phone is now available for purchase via Lazada. Although the phone’s availability is officially limited to China, some enterprising stores like Lazada have come to the rescue of prospective smartphone buyers in the island state.
The only caveat with the Lazada deal is that you will get just one month local-seller warranty at a premium price.
The regular 4GB/128GB variant of Mi Mix retails at ¥3,499, which is the equivalent of S$720. In contrast, the Mi smartphone starts at S$1,278 in retail outlets across Singapore.
On the other hand, the premium 6GB/256GB model is priced around ¥3,999 (S$820) in China and the same retails at a whopping S$1,639 in the island state.
The all-screen and all-ceramic phone from Xiaomi definitely carries the premium looks of any eye-catchy phone in the market.
It must be noted that the Xiaomi Singapore is not currently stocking the Mi Mix, despite featuring its official store on Lazada. So, your only option is to buy the phone through third-party importers and sellers via Lazada, which is too risky as it comes without the official hardware warranty.
Global Brands Group sales rose 15 per cent in the second half year.
That’s a figure CEO Bruce Rockowitz believes puts the Hong Kong brand licensee and manager second only to Under Armour in business performance in the current lacklustre global economy.
Sales soared 49 per cent in women’s and men’s apparel, its gross margin stretching from 39.9 per cent to 41. 7 per cent.
It’s biggest category – childrenswear – recorded a 10.3 per cent sales increase and an improvement in gross margin from 34.8 per cent to 36.3 per cent. Footwear and accessories sales rose 3.4 per cent and its brand management business, its smallest division at present, improved by 52.8 per cent. That business will benefit from a significant boost when the company launches its first Katy Perry-branded products, a footwear range, in early 2017, targeting consumers in the US and Europe.
“We’ve had a very strong year in relation to the market,” said CEO Bruce Rockowitz at a results presentation in Hong Kong late Thursday. “We’re two years into the spin-off [from Li & Fung Group] and we’ve done a lot of heavy lifting. Our top line is exceptional compared to the market.
The momentum we have so far is in spite of the market and in spite of the [US] election which put a lot of uncertainty out there.
“Our revenue is up 15 per cent , driven by organic growth, and with no acquisitions.”
Hong Kong will underperform
Rockowitz says Asia remains a small market for the group, which is developing it with David Beckham and the Spyder brand and in the children’s sector.
“Asia remains promising given an expanding middle class, despite China’s growth rate slowing.
“Hong Kong is different to the rest of the world because we are tied to China and tourists from China to here. I think the Hong Kong market will still be underperforming for the rest of the [fiscal] year.”
He said high rents were affordable when business is good – “which it is not right now”.
Within Asia, Korea is performing strongly.
“Korea is a place where you can develop great design and great DNA of brands.”
Spyder is performing well there, with GBG expecting to have 100 stores trading by the end of March.
Global Brands Group now holds licenses of varying terms but up to 30 years in its core categories. In kidswear, its brands include Disney, Calvin Klein, Tommy Hilfiger, Under Armour and Nautica. In men’s and women’s fashion Spyder, Juicy Couture, Jones New York, Joe’s Jeans, Buffalo Jeans and David Beckham. In footwear, Calvin Klein, Cole Haan, Michael Kors, Kate Spade and GBG’s own brands including Aquatalia and Frye. It’s fast-growing brand management group formed a joint venture with Creative Artists Agency in July propelling it instantly into the world’s largest company in the space. Brands include Katy Perry, David Beckham and Jennifer Lopez.
High hopes for Katy Perry
Rockowitz believes securing the Katy Perry brand management will bring huge benefits to GBG, suggesting US$20 million in sales in the first year of the partnership. Perry has 100 million followers on Twitter and is revered across the northern hemisphere and Asia. The company will launch the footwear collection in February-March 2017 after revealing it to the trade last August.
It will be distributed to leading US and European retailers initially, with Asian consumers having to buy it online or wait until two or three seasons ahead before their regional launch.
“Neither of us want to grow too fast and get it wrong. The products are in line with Katy’s image. Retailers are excited, but consumers haven’t seen it yet.”
Chinese eCommerce giant Alibaba Group Holding plans to invest 2.1 billion yuan (US$305 million) in supermarket chain Sanjiang Shopping Club.
Sanjiang’s share were suspended by the Shanghai stock exchange on November 8, with trading resuming today.
Under the terms of the deal, according to stock-exchange filings, Alibaba will subscribe to a private placement in Sanjiang, giving it about a 25 per cent stake.
Sanjiang also plans to issue up to 188 million yuan worth of exchangeable bonds to Alibaba, which will also acquire another 9.3 per cent stake for 438.6 million yuan via a share transfer, says Sanjiang. This will take Alibaba’s stake to 32 per cent, above the 30 per cent threshold where Chinese law says a company must make a full takeover bid in China. Alibaba will need approval from Sanjiang’s shareholders to waive this requirement.
Sanjiang said it aims to use Alibaba’s eCommerce platform as China’s economic growth slows.
South Korean LPG providers sold 6.4 million mt LPG in the domestic market over January-September, up 17.4% year on year, amid lower retail prices and stronger demand for petrochemical production, company officials said Friday.
The rise outpaced the 0.8%-increase seen for full-year 2015 sales, when the suppliers sold 7.52 million mt, up from 7.46 million mt in 2014.
Of the total 6.4 million mt LPG sold over the first nine months, SK Gas, the market leader, sold 2.83 million mt, up 49.7% from 1.89 million mt a year earlier.
Its market share also increased to 44.3% for the period, up from 34.6% in the same period last year.
In May, SK Gas started commercial production at its propane dehydrogenation plant that converts LPG into propylene.
The PHD plant uses 700,000 mt/year of propane as feedstock to produce 600,000 mt/year of propylene.
SK Gas is run by SK Group that also owns the country’s biggest oil refiner SK Innovation.
Sales of second-largest supplier E1 Corp. rose 14.1% year on year to 1.54 million mt over January-September, up from 1.35 million mt in the year-ago period.
E1 Corp. and SK Gas provide LPG to the domestic market through imports, while the country’s four oil refiners produce domestically.
LPG sales by South Korea’s second-largest refiner GS Caltex fell 8.5% year on year to 741,000 mt over January-September, from 810,000 mt a year earlier.
Top refiner SK Innovation’s LPG sales also dipped 10.1% year on year to 569,000 mt for the first nine months, from 633,000 mt in the same period last year.
Third-largest refiner S-Oil Corp. sold 445,000 mt of LPG over January-September, up 3.7% from 429,000 mt, while smallest refiner Hyundai Oilbank’s sales dropped 20.3% to 177,000 mt, from 222,000 mt a year earlier.
“LPG demand for petrochemical making soared 90% over the first nine months from a year earlier, while demand from industry use jumped 31% year on year in the period, driven by lower domestic prices,” an SK Gas official said.
But LPG demand for transport has been on the decline over the past few years, falling 4%-7% year on year over January-September due to fewer LPG-powered vehicles while consumption by households and commerce edged down 0.7% from a year earlier, the official said.
RETAIL PRICES FALL IN Q3
Retail propane prices averaged Won 1,651 ($1.39)/kg in the third quarter of 2016, down 8.3% from Won 1,801/kg a year earlier, according to state-owned Korea National Oil Corp.
Retail butane prices also fell 8.1% to average Won 1,863/kg in the third quarter, down from Won 2,028/kg in the year-ago period.
According to KNOC, which provides data on barrels basis, South Korea consumed 28.83 million barrels of LPG over July-September, up 22.2% from 23.59 million barrels in the same period last year.
The third-quarter growth slowed compared with a 29.4% rise seen the second quarter when the country consumed 20.11 million barrels of LPG, KNOC said.
For the first nine months, LPG consumption increased 21.8% year on year to 79.21 million barrels, KNOC said.
“LPG demand is likely to keep rising later this year unless retail prices rebound,” the SK Gas official said. To meet strong domestic demand, South Korea’s LPG imports jumped 34.1% year on year to 59.18 million barrels over January-September, compared with 44.14 million barrels a year earlier, according to KNOC.
LPG imports from the US, the biggest supplier, soared nearly three times to 27.83 million barrels for the first nine months, from 9.68 million barrels in the year-ago period.
South Korea’s LPG demand was sluggish in previous years. The country consumed 89.87 million barrels of LPG last year, unchanged from 89.58 million barrels in 2014, which was down 3.7% from 93.06 million barrels in 2013.
Amid weak demand, South Korea’s LPG imports fell 2.3% year on year to 62.71 million barrels last year, compared with 63.53 million barrels in 2014, according to KNOC.
Samsung Malaysia Electronics (SME) Sdn Bhd today established a partnership with online shopping mall Lazada Malaysia to offer its first portal-in-portal site in South-east Asia.
Head of Consumer Electronics Business Jimmy Tan Chee Wee said the partnership would allow more Malaysian consumers to shop online for their desired Samsung home appliances.
“Today, many consumers are tech-savvy and enjoy online shopping on their own space, and the partnership will help them enjoy savings and convenience compared with the conventional way of shopping,” he said.
Tan was speaking at the “Unbox the Wonders of Home” year-end online campaign in conjunction with Lazada’s Online Revolution campaign here today.
He said the collaboration would provide SME a greater opportunity to reach a wider customer base through online portal and mobile applications, and share the latest promotions as well as product information at the same time.
“Lazada helps to track every shop within the onsite portal according to the postcodes to ensure each of them is geographically tagged and catalogued to fit the shopper’s address.
“This will bring them to the nearest SME retail shops, automatically entitling them to free and fast delivery,” he said.
Tan said products offered online range from smartphones to televisions and refrigerators, with no price differences between online and offline products.
Xiaomi Malaysia has launched an official store on Lazada.
A sale will kick off the brand’s arrival featuring the Mi Band 2, Mi Capsule Earphones and 10,000mAh Mi Power Bank Pro.
Mi products, ranging from Mi Phones, Mi Smart Devices, Mi Power Banks, and Mi Accessories will be available on Lazada, sold and fulfilled by the Mi Store with official warranties from Mi Malaysia.
Kim Bum Ho, Deputy Executive Director of IIAC’s Commercial Marketing Group, said this morning that although Incheon Airport has planned to issue its T2 tender on schedule [in the first week of December], there could be a delay if the debate surrounding a change in e-commerce regulation – among a few other issues – continues.
Operators at South Korea’s Incheon International Airport (ICN) are currently not permitted to offer online duty free shopping due to regulation that stipulates that downtown DF operators alone command this privilege.
But Kim is all too aware of the increasing importance of e-commerce in South Korea, confirming that online sales growth continues to soar. “In South Korea the increased rate of online duty free shopping is now almost 50%-60% year-on-year…it’s so huge.”
Kim says that many local residents now prefer to only shop online. “So if you go to the downtown duty free store at this hour (evening in South Korea) you will only see Chinese people; no Koreans, no local people. Local people like to shop online. It’s such a big trend.”
In order to attract the most competitive bids (and retailers), Kim is trying to get the current e-commerce regulation for airport duty free operators changed…but it’s not been easy.
A large jewellery and watches counter at Incheon
“The duty free sales do not match the passenger growth rate unfortunately, but we think at this moment the duty free business has increased by 15% compared to last year,” says Kim.
“We are now talking…it is one of the issues we need to talk with the government about…So we are trying to [eliminate] the barriers to have e-commerce for airport duty free operators. I do think we can solve the problem for T2 operators…We have officially asked the Korean Customs office to permit the e-commerce business for airport duty free operators.”
Kim reveals that IIAC should find out if this is possible in two weeks time. In fact, he plans to write this into the terms of the T2 tender, if negotiations with the Korean Customs Service (KCS) go to plan.
TERMINAL 2 TERMS
“I think it will be determined in two weeks. It’s one of the conditions for the bidding. So yes we are planning to open the tender in early December, but we have to negotiate with the Korean Government Customs office before it opens…if it is takes longer we’ll need more weeks before we open. Anyway, our target date is early in December.”
Kim confirms that most local Korean operators such as Lotte, Shilla, Shinsegae, Hanwha and Doosan are interested in the Terminal 2 tender. Regarding the international operators he admits that two have already approached him, but he cannot reveal the company names at this stage.
T2 TO OPEN IN LATE 2017
Of course once the results have been announced, the retailers can begin to fit out the stores ready to commence trading in late 2017 when the new $5bn terminal opens.
“T2 will be opened late in 2017,” confirms Kim. “We spent almost $5bn on constructing it. It’s a totally new and unique place…we have centralised the duty free shops more…and it will be a more market and customer-oriented place. We can provide a good business environment.”
This year Incheon Airport says it has witnessed a very healthy increase in passengers of around 19%, however unfortunately duty free sales have not kept pace, as Kim concedes.
“The duty free sales do not match the passenger growth rate unfortunately, but we think at this moment the duty free business has increased by 15% compared to last year.”
Of course, Kim says that it’s difficult to make a direct comparison with last year, as the airport and the whole country suffered from the impact of MERS.
“It’s not best to compare directly with last year, but when we compare with two years ago (2014) we had about 10% increase in duty free sales.”
This year Incheon Airport says it has witnessed a very healthy increase in passengers of around 19%.
$2BN SALES TARGET STILL IN SIGHT
Kim also strongly believes that the airport can still achieve the $2bn sales total it predicted earlier this year. “We can hit $2bn again. Last year in 2015, we couldn’t because of the MERS…but this year in 2016 I think we can hit $2bn again.”
As the world’s biggest duty free market, many are interested to see what sort of sales South Korea can register in 2016. As reported, duty free sales rose +36% to $7.9bn in the first nine months of this year.
Kim gave us his updated forecast this morning: “I think the duty free business can hit about $9bn or $10bn in South Korea this year, so there is amazing growth actually.”
However, Kim also admits that for the last few months – maybe even as early as April this year – the growth in the number of Chinese inbound visitors has decreased, for which Kim says ‘there are many reasons’.
CHINESE INBOUND GROWTH SLOWS
One of these could be the new luxury goods import tax introduced by the Chinese Government earlier this year in a bid to protect home-grown businesses. Of course political tension could also be a factor.
[There were earlier concerns that the South Korean Government’s plan to plug into the US’ Terminal High-Altitude Air Defence (THAAD) system by the end of 2017 might cause a drop off in Chinese visitors, considering Beijing’s stiff opposition to the deployment].
LOTTE WILL BID AGGRESIVELY
“Duty free operators, including Lotte and Shilla are worrying about the Chinese changes…they spend less and they visit less.”
Kim believes this is more of a problem for the downtown duty free business and maintains that ‘the airport business is very stable compared to the downtown business’.
“Incheon is the gateway to South Korea and almost all the Chinese visitors have to come through Incheon Airport. It’s the national gateway…so it’s very stable, though their spending per passenger is now decreasing.”
iQor, a global provider of business process outsourcing and product support services, today announced that it has expanded its service operations in the Philippines with the opening of contact centers in Iloilo, in Western Visayas, and in Bacolod, in the Negros Island Region.
The additional 150,000 sq.ft. and more than 2,500 workstations will expand iQor’s service capacity for leading technology, telecommunications, retail, and financial services brands.
The new centers provide further geographic diversity to iQor’s existing presence in Clark, Davao and Dasmarinas, bringing the total number of iQor employees in the Philippines to more than 16,000.
“The Philippines remains a terrific place to conduct business,” said Hartmut Liebel, Chief Executive Officer of iQor. “Government officials at all levels remain engaged and helpful as we grow due to client demand and the service-oriented, tech-savvy talent we continue to find in labor markets across the Philippines.”
“We’re excited to expand our operations in some of the fastest growing regions of the Philippines,” said Gary Praznik, iQor’s Chief Operations Officer, Retail & Consumer Services. “The labor force, infrastructure, and economic development support in Iloilo and Bacolod are fantastic and we are excited to create local jobs for local talent.”
The company is actively seeking to hire more than 2,000 qualified individuals to help support client growth in customer care, technical support, sales and collections.
Interested candidates may apply online using iQor’s mobile-friendly application at https://eapt.iqor.com or contact us at our new locations:
iQor Iloilo
One Techno Place
Office 1 & 2
Iloilo Business Park, Iloilo City
±63 918 803 8304
iQor Bacolod
Northpoint Technohub, The District North Point
National Highway, Brgy 15
Talisay City, Bacolod, Negros Occidental
±63 918 807 3398
The chain’s remaining outlets at Festival Walk in Kowloon Tong and Harbour City in Tsim Sha Tsui were closed for business with notices on the doors stating that stocktaking was under way.
Another notice read that KPMG’s top restructuring officials Edward Middleton and Patrick Cowley have been appointed as receivers of the “Page One The Designer’s Bookshop (H.K.) Limited.”
Page One have had special sales running since November. In October, an interior design company submitted a bid at the District Court to ask the company to pay back HK$910,000 of construction fees. Last week, Thermos, a kitchen utility company, also went to court to request sums totalling HK$480,000 for products sold at the bookstores.
In August, it emerged that multiple publishers were also seeking overdue payments from the company. The beleaguered book chain reportedly owed over HK$700,000 to its publishers.“Page One is in the process of adapting to meet current consumer’s demand… however retail business have a high fixed cost,” it said in a public statement on August 12.
The book chain added at the time that it required funding to strengthen its capital structure and said it has started discussions with a potential investor.
Since opening its first Hong Kong outlet in 1997, Page One had up to 10 stores in the city at the peak of its business. However, the chain closed its store in Times Square, Causeway Bay in 2015 and shut six more stores at the Hong Kong International Airport this year. The remaining two Hong Kong branches are located at Harbour City and Festival Walk.
Foreign Press stopped supplying books to Page One in June. This summer, the company said it would not rule out the option of legal action if the troubled book chain continues to delay its payment.
Online office supply company Service Partner ONE have released the 2016 Coffee Price Index, detailing which cities offer the best value coffee worldwide. The research, which took into account 75 cities from 36 countries across the globe, found that Rio de Janeiro, Brazil offers the least expensive average coffee price, whilst Zurich, Switzerland was the most expensive city researched.
To create the ranking, the research team averaged the cost of four separate types of coffee: a cup of coffee in an office, a Grande Latte from Starbucks, a medium cappuccino from an independent coffee shop, and a cup of coffee at home. The research looks into costs of coffee from various sources, not just high street outlets, in order to get a clearer picture of the overall value of coffee in each city.
Singapore is ranked 20th most expensive city for coffee with coffee priced at $2.33(S$3.30) per cup. This compares to Zurich which came in as the most expensive city overall, at an average of $3.52 (S$5), and Rio de Janeiro where coffee was the most affordable, with an average of $1.02 ($1.44).
In Asian ranking, Hong Kong emerged as the priciest city for coffee. It is ranked 6th in the global ranking with coffee costing $2.88 (S$4.08) per cup.
APAD Australia Property and Development and Mitraland Australia are extending an invitation to the general public to attend an event on Nov 19-20 which is a 2-hour educational seminar and presentation on how to buy property in the Australian market, insights into popular suburbs considered as growing hotspots, wealth creation and legal landscape associated with purchasing Australian properties based in Melbourne’s South Yarra.
Ringed to the north by Port Phillip Bay, two lush recreational parks and a lake, a botanical garden and the city’s Central Business District, as well as Arts and Sports Precints of this thriving city; the properties are also within easy reach of two grammar schools, Melbourne High School and South Yarra train station, making the location of these properties prime acquisitions.
Taking place at the Radisson Hotel Brunei, and revolving around the exclusive ESQUE properties, APAD’s representatives will be in Brunei for one-on-one consultation sessions with potential clientelle during the event, which is aimed at boosting relations between the private business sectors of both nations. Australian immigration personnel and director of Mitraland will also be present to answer any queries fielded by interested applicants.
Among the guest speakers will be Jenny Neoh. As a qualified CPA Certified Public Accountant who has worked for the state government before embarking on her career as a senior property analyst, Jenny has since helped over 500 customers in securing their dream homes and investment properties since 2009. With over 12 years of experience across both commercial and private property sectors in Australia and Malaysia, Jenny will be of value to Bruneians who are interested in the possibility of purchasing property in Melbourne.
Also attending from Australia is the owner and managing director of Australian Migration Agents Pte Ltd, Grant Colbron, who is a former career-diplomat with experience operating in countries within the region including Malaysia, Indonesia and Thailand, as well as having his company office headquartered in Singapore with additional branches spread throughout Australia.
Representing the Consumer Banking division of Maybank’s Singapore office, its executive vice president Marc Leong, will utilise his 19 years of experience in retail banking to actively engage the audience in his capacity as the third invited guest speaker on topics inclusive of mortgages and retail loans.
To overcome the tightening of the foreign lending policy, ESQUE is the only project in Australia supported by Maybank Singapore in providing finance assurance to Bruneians who wish to purchase their first properties in Australia.
Concealed within this slender and sleek piece of architecture are seven different apartment types that occupy Levels 1 to 16, while two categories of residence occupy the 17th floor of this dynamic building. Designed to make brilliant use of space and natural light, the overall theme of the interior decor for the apartments as well as the residences are based on a light and dark colour scheme.
The lobby and lounge area are situated on the ground floor as well as a special-desginated area for mail. On top of that and readily available for the leisure of tenants is an open garden-concept roof top space that provides a commanding view of the Melbourne city skyline.
Apartment types 1 and 3 are equipped with 2 bedrooms and 2 bathrooms, while apartment types 2, 4 and Apartment 402 have a similar configuration in addition to having a study. Apartment type 5 is slightly larger with each boasting an extra bedroom and bathroom.
On the 17th floor can be found the City Residence and the Chapel Residence, which are equipped with 3 bedrooms, 3 bathrooms and a study.
The programme which will run from 10am to 5pm on Saturday and Sunday (Nov 19-20) is split into two seperate consultation sessions for the morning and afternoon, presentations by guest speakers and the announcement of pre-launch promotions as well as a talk on migration and Australian lifestyles.
The discounter has been rumoured to be mulling a launch in mainline China since 2014, when it was reported by the Guardian, however a report in German trade publication Lebensmittel Zeitung announcing the online-only move last week has been confirmed to the Australian media by Aldi.
The Aldi spokesman said the discounter had been researching the market and undertaking feasibility studies for several years and was now ready to launch an e-commerce site in mainland China during the early part of 2017.
“In the second quarter of 2017, Aldi will commence selling a carefully selected range of everyday grocery items to Chinese consumers,” a spokesman was reported as saying.
The statement noted that Aldi had enjoyed a strong and long lasting relationships with many of its Australian suppliers since its first stores opened in 2001 and the Australian business had grown rapidly and would benefit from continued investment to expand. “Our growth across the country has provided increased business for these suppliers, allowing them to invest this back into their own operations and contributing to their success. We look forward to further expanding these relationships as we develop further opportunities in Asia,” it said. “We know there is a strong demand among Chinese consumers for Australian manufactured products and our goal is to provide a competitively priced alternative for shoppers seeking quality groceries. We believe our unique offer of high-quality Australian products at unbeatable prices will be an attractive proposition for Chinese consumers.”
The move will use Aldi’s Australian retail business to supply China, and will concentrate on wine, and ambient groceries.
There is huge demand for wine in China, and Australia has enjoyed a boom in sales to Chinese consumers. Last year, China overtook the US as Australia’s most valuable market, rising 51% to AUS$474 million during 2015, while last month, the China Association for Imports & Export of Wines & Spirits released figures showing the country imported more than 354 million litres of wines between January and September 2016 – an increase of 19.06% on the same period last year.
Aldi launched its first UK e-commerce operation in January this year focusing on wine sales, and sold more 3,000 cases on its first day. The team said the it had continued to be extremely popular, growing sales in key areas of the South of the UK and London, where there are currently fewer stores.
German fashion house Hugo Boss says it will not return to growth until 2018 as it launches a turnaround that includes eliminating brands, slowing down store expansion and selling more online.
CEO Mark Langer says 2017 will be a transition year as it reorganises its struggling wholesale unit that sells to US department stores. Already the company has cut €65 million (US$68.86 million) in costs.
With Hugo Boss shares losing more than a third of their value in the past year, Langer’s recovery plan involves making more affordable clothing, in a move away from a declining luxury market. It will produce clothes only under the Hugo and Boss brands, narrowing its focus to casualwear and business attire. The Boss Orange and Boss Green labels will be folded into the Boss brand, and Hugo’s entry-level prices will be about 30 per cent lower than the Boss.
Womenswear, which accounts for about 11 per cent of revenue, will become a lower priority with Boss withdrawing from New York’s fashion shows next year. There will also be more focus on casual clothes and shoes.
Price tags will be adjusted internationally to close gaps caused by currency fluctuations, with prices in Asia coming down by about 15 per cent while European prices rise slightly.
Langer predicts that wholesale revenue via department stores in the US will decline by at least 10 per cent next year, with that business hit lately by high-level discounting to lure shoppers.
American lingerie brand Victoria’s Secret opened its first South-east Asian flagship store – a head-turning pink glass confection – at Mandarin Gallery yesterday.
First in the queue of about 100 shoppers were mother-and-daughter duo Mandy Lo, an office administrator in her 40s, and Hazel Goh, 19, a student.
While they had been waiting for only 30 minutes, the arrival of the flagship was a long time coming for Ms Goh, a loyal customer since she was 13. She had been ordering the label’s lingerie, fragrances and accessories online for several years.
She and her mother bought $500 worth of underwear, bras and a windbreaker, amid thumping music, flashing video screens, oversized chandeliers and elaborate table displays of lingerie-clad mannequins.
She says the store met most of her expectations. “It’s pretty awesome. I was expecting everything, but I couldn’t find certain designs of bras and underwear that I wanted, but the Pink range here is better than online.”
The Victoria’s Secret Pink range is a line of underwear, clothes and accessories targeted at women in their late teens and early 20s.
Another excited shopper was Australian tourist Jane Fitzgerild, 46. The chef had walked past Mandarin Gallery on Thursday and noticed the store.
She returned yesterday with her husband to buy bras. She says: “I’ve never been to any of the brand’s flagships. I’m a big fan and I like its quality and assortment of products.”
Opening the 12,000 sq ft duplex store in Orchard Road, amid a weak retail market, may seem like a risk, but Singapore Polytechnic senior retail lecturer Sarah Lim thinks this is a savvy move by retail group Valiram, which distributes the brand here.
Ms Lim says: “Victoria’s Secret is differentiated from other lingerie brands such as La Senza and Triumph because of its glamorous image. For consumers, it is a good move because, now, they can shop from the brand’s full range. The store also adds excitement to the retail scene.”
Singapore is the first Asian territory, apart from the Middle East, to have the full assortment.
The brand was founded in 1977 by the late Roy Raymond after he felt embarrassed purchasing lingerie for his wife in a department store.
In 1982, Victoria’s Secret was acquired by American fashion retailer L Brands, which made US$12.7 billion (S$18.11 billion) in sales last year, up from US$11.5 billion the previous year.
There are more than 1,600 Victoria’s Secret stores worldwide.
The brand is most famous for its high-octane annual Victoria’s Secret Fashion Show, which started in 1995 and features supermodels such as Adriana Lima and Alessandra Ambrosio and also top performers, including American pop stars Taylor Swift and Rihanna.
Similar to the stores in the United States, the Singapore flagship sells the full assortment, including the Victoria Sport and Victoria’s Secret Pink lines. This is a fuller spectrum than the fragrances, accessories and women’s underwear now offered at the brand’s seven stores in Singapore, including outlets at 313@Somerset and Wisma Atria.
Prices range from $19 for a lipgloss to about $800 for a silk robe from the Victoria’s Secret Designer collection. New designs will be available every two to six weeks.
At the flagship, there are 12 bra specialists, who advise customers on the product lines and styles, and know how to do bra measurements.
In each of the 24 luxurious fitting rooms is a call button, should shoppers need help from a specialist.
Ms Ema Negara, assistant vice- president of Victoria’s Secret store operations in Singapore, says having specialists who can empathise with customers is important.
According to her, about 90 per cent of women take bras in the wrong size to the fitting room and some walk out upset.
She says: “Our motto is to make women feel sexy, sophisticated and forever young.”
The 130-piece Treasure Collection includes silver pendants and earrings with cubic zirconia, diamonds and pearls, with each piece presented in a transparent sealed box. Prices range from US$49 to US$499.
F.I.N.E Managing Director Ari Johansson said: “Jewellery is the most profitable category per cubic centimetre in retail, and we’ve developed a unique brand and a range of jewellery that inspires the wearer.
“We also created a product that travel retailers can stock and manage more efficiently. Our extensive experience in manufacturing, logistics and training is reflective in the way we innovate in this space, be it in the box, on the box or out of the box.”
Johansson will address the conference and trade fair on ‘Three ways to improve jewellery sales in duty free’.
