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  • Xiaomi announces its first VR headset

    Xiaomi announces its first VR headset

    Xiaomi is broadening its already expansive range of products by venturing into virtual reality for the first time.

    The company today announced the Mi VR Play, an “entry-level” virtual reality headset that it hopes can open this new exciting medium to new audiences because not everyone has thousands of dollars needed to set up an Oculus Rift or HTC Vive. Democratizing technology is the thesis behind most of Xiaomi’s competitively priced products, including the $550/$750 notebook announced last week that will rival Apple’s Macbook in China.

    This new device recalls Google’s super-cheap and super-simple Cardboard VR headset. It is fairly basic in nature; you pop a smartphone into the lycra-built body then open Xiaomi’s Mi VR app, which contains VR content from selected partners that include Conde Nast Traveler and YouKu, “China’s YouTube.” Xiaomi pledged to invest $1 billion in video content, including VR, last year, so that library is sure to get bigger over time.

    Here’s how Xiaomi describes the headset:

    Mi VR Play has significantly improved upon the design typically used in similar VR products — it is wrapped in lightweight, durable Lycra for long-lasting comfort. In the future, Mi VR Play will also be available in a selection of bold prints and colours for even more stylish options. The unique two-way zipper helps to ensure compatibility, providing a secure grip on a wide range of 4.7- to 5.7-inch smartphones. At the same time, the dual openings on the front allow for slight positioning adjustments and ventilation.

    Here’s the catch — you can’t go and buy one, even if you’re in China.

    Xiaomi is making it available to a limited number of beta test users, who signed up on August 1 when Xiaomi put out a call for volunteers. One million users signed up in just eight hours, the company said, but Xiaomi has selected just a fraction of those — likely “tens of thousands,” a representative told us.

    For those lucky ones accepted into the test program, the Mi VR Play will cost just RMB 1 ($0.15).

    Xiaomi told us that it has plans to make the headset more widely available in the future, but there’s no schedule for that right now. Along those lines, it isn’t clear how much the headset will cost once it is on sale to all. We suspect it won’t be RMB 1, sadly.

  • Uber rival Grab raises $750M led by SoftBank at a $3B valuation

    Uber rival Grab raises $750M led by SoftBank at a $3B valuation

    Grab, the largest company rivaling Uber in Southeast Asia, has confirmed that it has raised $750 million in fresh capital.

    This is the company’s Series F round, and it was led by existing investor SoftBank with participation from undisclosed existing and new backers, Grab said. One of those is almost certain to be China’s Didi Kuaidi, which reportedly made a commitment to this round, but neither side is confirming that right now.

    A source close to the company confirmed that the round gives Grab a $3 billion post-money valuation. That’s consistent with our previous reporting, which pegged Grab’s pre-money valuation at $2.3 billion.

    Grab operates in six countries in Southeast Asia and its previous raise was $350 million in August 2015. This new financing has been sometime coming, and it was reported that Grab was raising upwards of $600 million in August, with some media suggesting the total could reach $1 billion. That hasn’t happened but Singapore-headquartered Grab did claim that it has over $1 billion on its balance sheet courtesy of this new raise.

    Grab said it 400,000 drivers on its platforms and it has seen over 21 million app downloads to date. In an announcement, the company added that it sees “up to 1.5 million daily bookings,” which a Grab spokesperson confirmed means ride requests not completed rides. Uber doesn’t provide business data for Southeast Asia so it is hard to compare them, but we previously reported that Uber is operationally profitable in parts of Southeast Asia and there seems to be little to choose between the two.

    An arsenal of capital is clearly necessary when you are taking on Uber, but Grab did sketch out some areas of priority that it will focus on.

    Indonesia, the world’s fourth most populous country and the largest economy in Southeast Asia, is top of its list. Grab CEO Anthony Tan said in a statement that he believes that Indonesia’s ride-hailing industry is worth $15 billion annually — that goes beyond taxi and cars and into motorbike taxis — which Grab offers there — and services such as food delivery, logistics, and more. Indonesia is no easy market and, alongside Uber, Grab is rivaled by GoJek, a motorbike taxi on-demand service that recently raised $550 million at a valuation of $1.3 billion.

    Beyond a push into services, Grab is also looking to expand its ecosystem into payments. This summer it announced plans to make its in-app payment system — GrabPay — available to third-party services, and this new funding will go towards making that happen. The GrabPay push will initially focus on Indonesia, where Grab has partnered with national bank Mandiri, but it will also be extended into the company’s other focus markets, too.

    Another more obvious area of focus is technology. Grab has R&D centers in Singapore, Beijing and Seattle and its priorities include refining its algorithm to help drivers become more efficient, building out its mapping data and technology, working on demand prediction and user targeting. Grab is also looking to add pooling to its existing vehicle categories, having launched its first pool option in Singapore nearly one year ago.

    There’s no word on autonomous vehicles, however, which Uber is testing in Pittsburgh with a view to rolling out more fully. Self-driving cars aren’t just for the U.S. market though. Nutonomy is running testing in Singapore so you could argue Grab is already playing catchup or might need to get its checkbook out if it wants to enter the race.

    “Grab has grown tremendously over the past year. This round of funding shows the confidence and optimism investors have in Grab’s market leadership and long-term potential in Southeast Asia,” Tan, Grab’s CEO, said in a statement.

    “We are blessed to have great partners like SoftBank, many of whom have unparalleled track records of investing in leading internet businesses in emerging markets, and seeing those companies through to become the core of internet ecosystems in each market,” he added.

    Despite much to be bullish about, Grab is up against a tough rival in Uber and in a market that shows little sign of profitability right now. We previously reported that the company was burning as much as $30 million per month in 2015. While Grab has consistently claimed that it has not touched its Series E round yet, it is looking at a long path to profitability in Southeast Asia. Likewise, Didi’s move to acquire Uber China — and, in doing so, take equity in Uber Global — throws questions on its global alliance with Uber’s other rival companies.

    Nonetheless, this new funding is a major milestone for Grab, and the largest raise for a tech startup in Southeast Asia to date.

  • No Solution yet to Google Tax Issues

    No Solution yet to Google Tax Issues

    The Communications and Informatics Ministry said that it has not come up with the best solution in relation to the endeavor of collecting taxes from giant tech company Google, as the regulation on foreign app companies (over the top or OTT) has not been realized yet.

    “No solution yet, and I’m still coordinating with the Finance Ministry. But I keep on pushing to have a playing field level between the national OTT and the International OTT,” Communications and Informatics Minister Rudiantara said in Jakarta on Friday, October 7, 2016.

    Earlier, Rudiantara said that Google Indonesia was not running an advertising business. In addition, Google has not set up a permanent local entity (BUT) in Indonesia, making it difficult for the government to collect taxes from Google.

    Rudiantara called on Google to show its good will to discuss the issue.

    “However, the amount of taxes to be paid by Google remains Finance Ministry’s jurisdiction,” he said.

    Rudiantara had also set a target to finalize regulations on OTT companies in the third quarter of 2016. However, the realization remains sluggish since the Ministry cannot issue a regulation that is not applicable and enforceable.

    Google Singapore, as Google Indonesia’s holding company, refused to be audited by the Tax Directorate General, following a finding that Google gains income from Indonesia, although it has not yet established a permanent local entity in the country. The Tax DG found an indication of criminal offenses and conducted investigation into the company.

    Finance Minister Sri Mulyani has not provided details about steps to be taken to collect taxes from Google. However, Sri said that the government would continue to demand Google to fulfill its tax obligations.

  • Governement expects food self-sufficiency in 2018

    Governement expects food self-sufficiency in 2018

    Food self-sufficiency is expected to be realized in 2018, and there will be no imports in 2016, Vice President Jusuf Kalla asserted.

    “Food-sufficiency is expected to be realized within three years for which the efforts have started a year ago,” Kalla said here Friday.

    In order to reach the target several steps have been implemented, including improvement of irrigation methods, and seedling and fertilizer preparation, he added.

    Food security and resilience have been an issue for Indonesia for some time now. It was once a major rice exporter in Asia but is now relying quite heavily on rice imports to meet peoples staple food requirements.

    Food security is also an important social objective.

    Therefore, relying on food markets outside the country in order to meet the needs of Indonesias growing population is critical.

  • Indonesia offers Japan Jakarta-Surabaya rail project

    Indonesia offers Japan Jakarta-Surabaya rail project

    Indonesia has officially offered Japan the opportunity to take part in the semi high-speed rail construction project connecting Jakarta to Surabaya in East Java, a senior minister said.

    Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan delivered the official letter offering the project to the Japanese government during his working visit to Tokyo on Friday, according to a statement released by the ministry’s office.

    “Personally, I am sure Japanese technology is suitable for this project,” he said in the statement released on Friday. The semi high-speed railway would have trains running between 180 and 200 kilometers per hour and would shorten the travel time between Jakarta and Surabaya to 3.5 hours, Luhut added.

    The government planned a double track railway so that it could be utilized to support the transfer of containers in dry port between Jakarta, Semarang and Surabaya.

    Should Tokyo accept the offer to work on the project, Luhut further said he hoped that Japan would implement technology transfers with Indonesia and comply with the country’s regulations that prioritized the use of Indonesian-made products.

  • Logistic Operators Become More Green Globally

    Logistic Operators Become More Green Globally

    A combination of external and internal pressures are continuing to drive a ‘greening up’ of logistics operations in Asia and worldwide. Increasingly, though, companies are implementing such developments as part of an overall corporate business strategy rather than a standalone area of activity.

    Some of the key trends in that context were outlined by John Manners-Bell, chief executive of UK-based global logistics industry research and analysis company Transport Intelligence, who spoke on the subject of ethics and sustainability in the supply chain at a recent conference, The Future of Logistics, in London, and is now writing a book on that subject.

    One of the key points to emerge from the conference session which discussed those issues, Manners-Bell told Asia Cargo News earlier in September, was that ethical and environmental logistics practices were now increasingly part of wider corporate sustainability/social responsibility programmes being implemented by companies as an integrated element of their overall business development.

    Another key point to emerge from the conference, he continued, was that ethical behaviour and commitment to environmentally-sustainable practices need not be at the expense of profitability. “In fact, best practices in logistics and supply chain management bring together ethics, sustainability and bottom line performance in a holistic approach,” he argued.

    Expanding on that point, Manners-Bell suggested that going back a decade or so, most manufacturers, retailers and logistics providers still tended to view the development of greener supply chain and other operations as something “nice to have” or a potential additional competitive advantage but basically separate to the actual business of making money.

    “Now, companies increasingly see that they need to get all those elements right in order to prosper. For example, if you are a multinational consumer electronics manufacturer or retailer and one of your suppliers in China is found to be mistreating its workers or releasing large quantities of toxic chemicals into the environment, that could have a huge negative image on the global image of your brand,” he said.

    Commenting specifically on supply chain trends in that context, Manners-Bell confirmed that logistics providers were now focusing both on developments designed to improve the environmental performance of operations for customers and their own internal “green” credentials.

    “Logistics providers are being pushed by their customers to make their supply chains more environmentally friendly, but many are also large corporations in their own right and therefore have a responsibility of their own to operate in a sustainable way,” he said.

    One recent example of the first of those trends saw major Asian region and global logistics provider DHL announce in June that it had launched DHL Carbon Calculator, “a new online application which delivers live data-based emissions calculation for almost all shipment sizes and modes of transport for local, national and international deliveries.”

    Kathrin Brost, vice president, green strategy and customer intelligence at DHL Global Forwarding, which tested the Carbon Calculator together with customers, explained that the calculation was carried out online based on intelligent algorithms.

    “While many other computational tools provide only a rough estimate of the transport emissions and the route, the Carbon Calculator taps into real logistics data,” she said. “That data includes the route to the nearest airport or harbour, the main leg by air or sea and the ‘last mile’ in the destination country.”

    More recently, at the beginning of this month, French global logistics provider Geodis highlighted the ‘environmental’ credentials of a new rail transport operation it had just introduced between Wuhan in central China and the city of Lyon in France for Marseille-based designer jeans manufacturer Kaporal.

    Vincent Allal, head of Kaporal supply chain, claimed the new service enabled that company to reduce its transport time, costs and environmental footprint. “Rail transport is a real alternative to air travel that was previously not considered. The transit is relatively short, we have halved our bill on this transaction and we are very sensitive to the low environmental impact of this solution,” he added.

    One of the latest instances of a logistics provider “internal” green development saw Samskip, which operates one of Europe’s largest multimodal container logistics systems, report in August that subsidiary frigoCare had completed the installation of what it claimed was the largest solar panel system in the Dutch port of Rotterdam, a major European gateway for Asian deepsea container traffic, as part of its “sustainability strategy.”

    That initiative, undertaken in partnership with Dutch renewable energy company Zon Exploitatie Nederland (ZEN), comprised the installation of some 3,100 solar panels on the roof of frigoCare’s 14,000 pallet-capacity cold store in that port. The installation covers an area of 7,500 square metres and is said to be capable of generating 750,000kWh of electricity a year.

    “The new solar panel installation is owned by ZEN, while the roof’s surface is provided by frigoCare,” explained Samskip. “In turn, frigoCare benefits from access to a cheaper, and ‘greener’, energy supply. Under the agreement between frigoCare and ZEN, the solar panels will meet around 30% of this requirement. Any excess power will go back into the local electricity grid.”

    FrigoCare managing director Jan Bouman added: “When we upgraded our cold store, which is primarily used to store frozen fish, we wanted to make it as environmentally-friendly as possible. The partnership with ZEN has enabled us to reduce our annual carbon emissions by around 325 tonnes a year.”

  • India passing China as top mobile growth market

    India passing China as top mobile growth market

    India is set to overtake China as the most significant mobile growth market worldwide, and Asia is becoming the growth engine of the entire mobile ecosystem, according to the GSMA.

    In a new report, the GSMA predicts that over one billion additional people worldwide will be connected to mobile networks by 2020.

    Around a third of these new users (337 million) will come from India, compared to more than 200 million from China.

    China and India, combined with Indonesia, Pakistan, Bangladesh and Myanmar, will meanwhile collectively account for around 60% of the world’s expected 1.1 billion new subscribers by the end of the decade.

    The report also shows that 46% of the global population is using mobile phones to access the internet, and that this is expected to increase to 60% by 2020. This will make mobile phone ownership the key factor driving global internet penetration.

    Smartphones may also have grown to become the most commonly owned consumer electronics device, with penetration above 80% in some Asian markets including Korea and Singapore. By contrast, smartphone adoption rates in India stand at only 25%, leaving plenty of room for growth.

    Revenue from mobile services worldwide is meanwhile projected to grow by around 2% annually through to 2020, with slowing revenue growth being compensated for with new revenue opportunities resulting from growing mobile internet adoption and the move to higher-speed networks.

  • India’s mega spectrum auction raises just $9.8b

    India’s mega spectrum auction raises just $9.8b

    India’s major spectrum auction has ended after five days of bidding, raising 657.89 billion rupees ($9.86 billion), far less than the up to $83 billion the government had been anticipating.

    Just 40% of the airwaves placed on the auction block were sold, with no bids at all for the expensive 700-MHz and 900-MHz bands, the Economic Times reported.

    Vodafone emerged as the biggest spender in the auction, spending 202.8 billion rupees for 2 x 82.6MHz of FDD and 200MHz of TDD spectrum across the 1800-MHz, 2100-MHz and 2500-MHz bands in all its key telecoms circles. The operator now has 4G capability in 17 of India’s 22 circles.

    Newcomer Reliance Jio Infocomm paid 136.72 billion rupees to build a warchest of 269.2MHz of additional spectrum in the 800-MHz, 1800-MHz and 2300-MHz bands.

    The operator acquired spectrum across all 22 telecoms circles, but in no circle did the company acquire spectrum in all three bands. Jio said its total spectrum footprint has now grown to 1,108-MHz, further cementing its lead in terms of liberalized spectrum holdings.

    India’s largest operator Bharti Airtel paid 142.44 billion rupees for an additional 173.8MHz of spectrum in the 1800-MHz, 2100-MHz and 2300-MHz bands. The operator now has 4G spectrum in all circles. Idea Cellular spent around $1.92 billion.

    All seven participants in the auction acquired at least some spectrum

  • Halal zone to appear in Pulogadung Industrial Area

    Halal zone to appear in Pulogadung Industrial Area

    Halal Zone will soon arrive in Pulogadung Industrial Area, East Jakarta, serving as a showcase for Indonesias halal industrial products, officials said.

    “Halal Zone will have facilities that support halal management and halal product distribution,” Financial and Supporting Director of PT Jakarta Industrial Estate Pulogadung (JIEP) Sitta Izza Rosdaniah stated here on Friday.

    The zone will feature Moslem Fashion Hub, MICE (Meetings, Incentives, Conferences, and Events), Halal Warehouse, Halal Laboratory, Shariah Finance Centre, National Creative Industry and Training Centre, Halal Lifestyle Showcases, National Logistics Centre, Halal Culinary Centre, and Organic Urban Farming.

    “We want establish a halal laboratory in the industrial area,” Sitta noted, adding that the facilitys management will prioritize small and medium enterprises to help them develop their businesses.

    According to her, these enterprises need support to meet halal standards for their products.

    “This is the meaning of a halal zone, where people can get assistance and the opportunity to consult with experts,” Sitta remarked.

    JIEP also provides special facilities for all business sectors in the industrial area.

    On August 2016, in Jakarta, JIEP signed a Memorandum of Agreement (MoA) with the Indonesian Port Corporation (IPC) on the Study of Development and Operation Cooperation in the Pulogadung Industrial Area.

    The agreement was for the preparation of a study of an Integrated Logistics Area for an International Halal Hub in the JIEP area.

    The MoA is aimed at establishing a partnership and synergy between JIEP and Pelindo to develop the International Halal Hub and Halal Port.

  • Cambodia sets final deadline for SIM registration

    Cambodia sets final deadline for SIM registration

    The Telecom Regulator of Cambodia (TRC) has given operators until the start of next month to register all customers’ SIM cards or disconnect any remaining unregistered SIMs.

    Operators will need to alert customers at least seven times within seven days before deactivation, the Phnom Penh Post reported.

    The TRC gave the order after data submitted by Cambodia’s mobile operators showed that despite the yearlong campaign to crack down on unregistered SIMs, around 1.5 million of the nation’s 19.3 million active SIMs are not properly registered.

    The government also plans to take a more active role in monitoring operators’ databases to ensure they are not allowing unregistered SIMs to be sold, by using an online management system. The TRC has indicated there will be more enforcement activity in the future once this system is in place.

    According to the report, despite the crackdown, unregistered SIMs can still be found in most Phnom Penh markets selling for as little as $0.50. SIM card sales at legitimate outlets have also declined in rsponse to the anticipated crackdown, as customers prefer the convenience of unregistered cards.

    Cambodia has presented the crackdown on unregistered SIMs as an effort to protect national security and reduce crime.

  • India auto sales soar 20% in September ahead of festive seasons

    India auto sales soar 20% in September ahead of festive seasons

    Demand is expected to slowdown in the coming months, however.

    During Sep-16, domestic sales of passenger vehicles rose 20% YoY and two wheelers grew 22% YoY, ahead of Diwali and Dussera in Oct-16.

    MayBank KimEng’s channel checks suggest the demand for automobiles is 10% more than in the previous two festive seasons.

    “We expect demand to normalize lower in Nov and Dec as dealers start cutting inventories,” it said in a report.

    The Society of Indian Automobile Manufacturers (SIAM) confirmed the uptrend by revising up its sales growth forecast to 10-12% for FY17 from 6-8%.

    “We will wait for two more months of retail sales data before deciding whether to revise up our growth forecasts,” said MayBank KimEng.

  • Hooters Taiwan launch marks Asian expansion

    Hooters Taiwan launch marks Asian expansion

    Atlanta-based operator and franchiser Hooters of America will enter Taiwan with five new locations.

    The Hooters Taiwan restaurants will be opened by Hooters’ Asian partner, Bangkok-based franchisee Destination Resorts.

    The first is scheduled to open in Taipei, with typical menu including wings, burgers and salads. The other four will be in Kaohsiung, Taichung, Taoyuan and Tainan.

    “With existing bustling locations throughout Asia, we’ve seen proven demand for Hooters’ world-famous chicken wings served with iconic Hooters Girl hospitality,” said Gary Murray, CEO, Destination Resorts.

    hooters-hong-kong

    Hooters expects good growth in Taiwan thanks to a robust economy and strong brand recognition in the market.

    Earlier this year the franchisee opened two more Thailand locations, the largest international Hooters in Pattaya, and the nation’s fourth location in Bangkok’s Nana district.

    It also recently opened the first Hooters in Hong Kong. (pictured)

    Four more are planned this year – in Samui, Thailand; Manila Eastwood in Philippines; Marina Bay in Singapore and in Phnom Penh, Cambodia.

    The new locations will incorporate the latest design features that deliver “the familiar, fun-loving persona of the Hooters brand along with contemporary elements that combine to deliver a one-of-a-kind guest experience”.

    Hooters is the franchisor and operator of more than 420 Hooters restaurants in 42 states of the US and 26 countries.

  • McDonald’s Malaysia ‘not in hurry’ to sell

    McDonald’s Malaysia ‘not in hurry’ to sell

    Despite shortlisting several bidders for the McDonald’s Singapore and McDonald’s Malaysia franchise rights, Malaysian subsidiary Golden Arches Restaurants says it is not in a hurry to sell.

    MD Azmir Jaafar says the deal is being discussed with the shortlisted bidders, but no time frame has been set to complete the transaction.

    “We want to find the right partner who understands the local market and can ensure continuity of McDonald’s value and tradition, as well as be backed by strong capital.”

    He says it has always been the group’s idea to sell the franchise rights to a local partner, which would be more efficient than management by a corporate entity.

    McDonald’s Corp announced a revamp of its ownership models throughout Asia in July, including plans to offload its China, Hong Kong, Malaysia, Singapore and South Korea master franchises.

    CEO Steve Easterbrook’s plan covers about 4000 restaurants with an ultimate goal of having at least 95 per cent of the group’s restaurants franchised.

    Meanwhile, Azmir says that as the Malaysian deal is a business transaction “we will ensure the valuation is done properly”.

    “Still potential”

    There are 260 McDonald’s restaurants in Malaysia, with Golden Arches managing 200 and the rest in the hands of a third party. Though Malaysia has a population of only about 30 million people, which is relatively smaller than China and Indonesia, Azmir still sees huge potential in the market.

    “There are still many underserved areas,” he says. “As the government is improving the infrastructure in Sabah and Sarawak, I think we can expand our footprint into Kota Kinabalu and Kuching and other cities.”

    Azmir says the company intends to open 30 stores in the Klang Valley, Johor, Melaka and Penang as well as Sabah and Sarawak in the next three years. Five to seven new stores are targeted for this year, with one in Presint 2, Putrajaya, and another in Chukai, Terengganu, already open.

    “Our expansion plan is focussed on stand-alone stores as this model works very well, especially in terms of accessibility and convenience. Our ultimate goal is to have 500 stores in the country.”

    Azmir says the company also intends to renovate and remodel up to 30 outlets, each to cost about RM1 million (US$241,700). They have been open for nearly 30 years and will also have their technology upgraded.

    Combined, McDonald’s Singapore and McDonald’s Malaysia have enjoyed record sales in the past few months and is still targeting higher double-digit growth this year.

    Even following the introduction of the goods and services tax in Malaysia in April last year, Azmir says the company raised its selling prices by only about 1 per cent to offset the higher raw-material cost.
    He believes McDonald’s has captured up to 42 per cent market share in the Malaysian fast-food market.

  • Wal-Mart Boosts Stake in JD.com, Expands Further in China

    Wal-Mart Boosts Stake in JD.com, Expands Further in China

    Wal-Mart Stores Inc. has reportedly increased its stake in Chinese eCommerce website, JD.com Inc., to 10.8% from 5.9%, aiming to grab more market share in the world’s largest online market. Shares of JD.com jumped 7.5% in after-hours trading following the news.

    The move comes nearly four months after Wal-Mart inked a deal with JD.com. to sell its Chinese eCommerce business, Yihaodian to JD.com in exchange for a 5% equity stake in the company.

    JD.com is the second-largest online retailer in China after Alibaba Group Holding Ltd. in terms of market cap. The expanded deal with JD.com is expected to offer Wal-Mart a better chance of competing in the cut-throat retail industry in China and expand its reach in the country. Evidently, it expects to generate 25% of global retail growth from the region over the next five years. Further, this will benefit Wal-Mart with JD.com’s huge customer base and its same-day delivery network.

    WAL-MART STORES Price and Consensus

    We note that Wal-Mart has been struggling of late to expand its reach in China. The retailer opened its first store in the country in 1996, but only has about 430 stores there at present. The company has stated various reasons for the sluggish business operations in the region.

    In China, the company has long been dealing with food safety scandals despite trying to maintain high food safety standards. Wal-Mart China too has been facing significant pressure from government austerity measures and deflation. Further, the company faces problems in understanding discerning Chinese consumers as their buying decisions aren’t always price driven.

    Apart from expansion in China, this Bentonville, AR-based company is leaving no stone unturned to acquire a stake in the online business. In this regard, it continues to make huge investments in eCommerce initiatives, including acquisitions. Recently, Wal-Mart completed the acquisition of eCommerce company, Jet.com, Inc., which marked a huge step forward in its quest to dominate ecommerce king, Amazon.com, Inc. Wal-Mart is also in talks to acquire a stake in India’s largest eCommerce firm, Flipkart Online Services Pvt., in order to expand in the fast-growing online retail market.

  • Cartier Japan’s renovated Ginza store reopens

    Cartier Japan’s renovated Ginza store reopens

     

    Following an extensive renovation, the flagship store of luxury jewellery company Cartier Japan has reopened in Ginza, Tokyo.

    Cartier Ginza

    Covering 10,764 sqft (1000 sqm), the boutique houses watch collections on the first floor, diamonds on the second floor, and fashion accessories and leather goods on the lower level.

    Cartier Ginza Japan 2

    Interior designer Bruno Moinard treated each level differently, with the first floor in brown tones and hues of beige, gold and champagne, and the second floor with contrasting hues of ivory and champagne.

    Cartier Ginza Japan

    Cartier-Ginza-Japan 4jpg

    cartier-ginza-japan-front

     

    Sylvain Dubuisson designed the facade, built in two sections. The lower part features dark brown, orange-toned granite inspired by the company’s Paris boutique on Rue de la Paix. The second section features Japanese screens made from traditional paper and wood cuts arranged to resemble Japan’s national tree, the sugi.

    Cartier Ginza Japan 3

    Cartier first entered the Asian market in 1970 in Hong Kong, opening in Singapore in 1973. A boutique was introduced in Ginza in 1991, with the flagship following in 2003, with an interior design concept by Moinard. The boutique was renovated and reopened in 2007, with its latest renovation taking two years.