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  • Rolls-royce Unveils Phantom Centenary Collection: An Exquisite Tribute To A Century Of Automotive Excellence

    Rolls-royce Unveils Phantom Centenary Collection: An Exquisite Tribute To A Century Of Automotive Excellence

    Rolls-Royce has introduced the Phantom Centenary Private Collection, a 25-unit series based on the Phantom, in celebration of the model’s 100th anniversary. The automaker describes the collection as the most intricate and technologically advanced private series it has ever produced, with more than 40,000 hours dedicated to its development.

    Exterior Design

    The exterior of the Centenary Private Collection is completed in a classic Black & White style. The paint finish is further enhanced with Rolls-Royce’s Super Champagne Crystal finish, which incorporates champagne-coloured iridescent glass flakes in the clear coat to add an additional layer of depth. The Spirit Of Ecstasy hood ornament is influenced by the original design and is made from 18-carat gold with a 24-carat gold plating. The hood ornament also carries a custom ‘Phantom Centenary’ hallmark from the Hallmarking & Assay Office in London, while the base is completed in enamel. The Rolls-Royce badges and unique ‘Phantom’ wheels are finished in 24-carat gold and white enamel.

    Interior Inspiration

    The interior of the car draws from past Phantom models and honors the company’s founders. The rear seats, inspired by the ‘Phantom of Love’, a custom-made model from 1926, feature artwork embedded into the seat upholstery. This artwork highlights the Phantom’s history and includes depictions of the company’s original Conduit Street premises in London, special Phantom models, and significant Phantom owners over the past century. The seat artwork is a result of a 12-month collaboration with a fashion atelier.

    Thoughtful Details

    The front seats feature laser-etched upholstery with artwork referencing codenames of past Phantoms. The gallery includes 3D-printed brushed aluminium fins arranged vertically, each bearing sculpted letters that form quotes from various reviews over the years. This artwork is backlit, with the lighting programmed to mimic the shimmer of fireworks.

    The doors also showcase remarkable craftsmanship. The rear doors feature artwork depicting landscapes where Sir Henry Royce, the company’s co-founder, had his summer and winter homes, achieved through 3D ink layering, laser etching, and 24-carat gold inlays. The front doors present a depiction of the Goodwood-era Phantom’s Journey across Australia.

    Attention to Every Inch

    Not to be overlooked are the seatback tables, one of which features a wood-inlay representation of the 1925 Phantom 1, while the other shows the current model. This artwork is also carefully embroidered onto the leather-finished back of the table. The Starlight headliner displays floral artwork inspired by the trees at the company’s Goodwood headquarters and references to prior Phantoms.

    Even the engine bay features a bespoke white-finished engine cover with gold inlays, highlighting Rolls-Royce’s attention to detail and commitment to luxury.

    Questions & Answers

    What is the Phantom Centenary Private Collection?
    The Phantom Centenary Private Collection is a 25-unit series based on the Rolls-Royce Phantom, produced to celebrate the nameplate’s 100th anniversary.

    What unique features does the collection have?
    The collection is characterized by its intricate artwork, lavish materials, and advanced technologies. Key features include the Super Champagne Crystal finish, laser-etched upholstery, 3D-printed gallery artwork, and numerous gold inlays.

    What inspired the design of the collection?
    The collection draws inspiration from past Rolls-Royce Phantom models and pays homage to the brand’s founders. The unique artwork embedded into the interior of the cars references the history of the Phantom and the landscapes connected to the company’s co-founder, Sir Henry Royce.

  • Apple’s Mac Sales Double, Yet Lenovo Leads: Future Market Growth Hinges On Ai-enabled Pcs

    Apple’s Mac Sales Double, Yet Lenovo Leads: Future Market Growth Hinges On Ai-enabled Pcs

    The American multinational technology company, Apple, is experiencing a significant surge in iPhone sales. However, what’s particularly noteworthy is the increasing popularity of their laptops. Indeed, in the third quarter of the year, sales of Macs have doubled, outpacing the growth rate of the overall PC market. Despite such impressive strides, Apple is yet to lead in either volume or growth in this market.

    The PC Market Leaders

    Although Apple’s growth rate surpasses that of the overall PC market, it still trails Lenovo in sales growth. According to a recent study, Apple saw a 14.9% increase in shipments during the third quarter of 2025. In contrast, Lenovo, the global leader in PC manufacturing, experienced a growth rate of 17.4%, while the overall market saw an increase of 8.1%.

    Apple currently ranks fourth in terms of global PC manufacturing, while Lenovo maintains its leading position. The third-ranked Dell is the only major brand to experience a slight decline, with a 0.9% drop in growth. On the other hand, the second-largest PC manufacturer, HP, grew by 10%. ASUS saw a 14% rise in growth, securing its position as the fifth in overall shipments.

    The Role of AI in the PC Market

    The study suggests that the overall growth of PC shipments has primarily been influenced by two factors. The first is the imminent retirement of Windows 10, and the second, adjustments made in inventory due to tariffs imposed in the US. However, looking ahead, the study anticipates that the future growth of the market will be driven by the AI PC boom.

    This new wave of AI-enabled PCs is expected to begin influencing growth from next year, and fully come into effect after 2026. It is projected that this “real AI PC boom” could propel the entire PC market to unprecedented heights.

    The Importance of Quality Products

    Apple’s recent success with the iPhone 17, as well as Samsung’s success with the Galaxy Z Fold 7, underlines the role that high-quality products play in driving sales. Apple’s Mac lineup has remained robust for several years, which explains the strong sales performance of their computers. While Lenovo’s broader range of products has helped them maintain their leading position, it does not appear that Apple is necessarily aiming to compete for this title.

    Questions & Answers

    Which company leads the PC market in terms of sales growth?
    Lenovo currently leads the PC market in sales growth, with a rise of 17.4% in the third quarter of 2025.

    What are the two main factors driving the overall growth of PC shipments?
    The overall growth of PC shipments is primarily driven by the imminent retirement of Windows 10 and the adjustments made in inventory due to tariffs imposed in the US.

    What will be the major driver of growth in the PC market in the future?
    The major driver of growth in the PC market in the future is expected to be the boom of AI-enabled PCs. This is predicted to start influencing growth from next year and fully come into effect after 2026.

  • Google’s Gemini Chatbot: New Updates To Address Speech Recognition Limitations

    Google’s Gemini Chatbot: New Updates To Address Speech Recognition Limitations

    Google’s Gemini, an impressive AI chatbot, possesses a vast reservoir of knowledge and an uncanny retention ability, so much so that it can recall a single line spoken in a TV program aired over 54 years ago. Gemini can be accessed via its dedicated app on both Android and iOS, or it can replace the Google Assistant on your Android phone. However, users have found that if the question posed to Gemini is too long, the chatbot might cut them off before the query is fully delivered.

    The Importance of Pauses

    While users can opt to input their questions manually on the keyboard, Gemini’s voice recognition feature offers a more convenient option for those who prefer to speak their queries. The chatbot, a product of engineering powerhouse Google, is quite accurate at transcribing dictated information. One limitation, however, is its inability to understand the natural pauses that occur during speech, possibly because as an AI, it doesn’t require breathing.

    If the query is delivered at a slow pace or with frequent pauses, Gemini may assume that the question is complete and prematurely cut off the user. This can be frustrating, especially for users who prefer to speak their questions.

    Updates on the Horizon

    Recently, however, there has been a discovery that Google may be working to alleviate this issue. In version 16.42.61 of the Google app, a feature was found that allows users to keep the microphone on and active in the Gemini chatbot until it is manually turned off. This new feature prompts users to “Long press the mic to keep it open.” Once the mic is locked in this manner, it will continue listening until the user chooses to stop it.

    With this feature, the microphone icon transforms into a “stop” icon once locked on. To unlock the mic and end the question, users only need to tap the stop button, prompting Gemini to begin processing the query. It’s important to note that this feature does not affect Gemini Live, a function designed for back-and-forth conversations with the chatbot. Other updates include a new overlay input box for Gemini and a floating button for Gemini Live.

    As of now, there is no confirmed timeline for when these updates will be available to Gemini users. The Gemini app can be downloaded from the Google Play Store for Android devices and from the App Store for iPhones.

    Additional Features

    In addition to its knowledge and voice recognition abilities, Gemini now also includes the ability to set alarms and timers on Android. Users can switch to Gemini from Google Assistant by adjusting the settings on their Android device. The necessary software adaptations have been implemented to grant this functionality. Moreover, with the help of the Utilities extension within the Gemini app, the chatbot can control device settings such as Wi-Fi, Bluetooth, the flashlight, and the phone’s volume.

    Questions & Answers

    What is Google’s Gemini?
    Google’s Gemini is a chatbot that can be accessed via a dedicated app on both Android and iOS devices, or it can replace the Google Assistant on your Android phone.

    What limitations does Google’s Gemini currently have?
    One of the primary limitations of Gemini is its inability to understand natural pauses that occur during speech. If a query is delivered slowly or with frequent pauses, Gemini might prematurely assume the question is complete and cut off the user.

    What new features is Google planning to add to Gemini?
    Google is planning to add a feature that allows users to keep the microphone on and active until it’s manually turned off. This feature is designed to prevent Gemini from prematurely ending the user’s query due to long pauses. Other updates include a new overlay input box and a floating button for Gemini Live.

  • Vietnam Slashes Gasoline Prices In Response To Global Oil Market Fluctuations

    Vietnam Slashes Gasoline Prices In Response To Global Oil Market Fluctuations

    In response to the global dip in oil prices, Vietnam has reported a decrease in its gasoline prices this past Thursday. This price decrease is largely due to a decrease in demand.

    Price Reductions

    The widely-used fuel, RON95, saw a reduction by 0.90%, bringing the price down to VND19,720 (US$0.75) per liter. Simultaneously, the price of the Biofuel E5 RON92 also experienced a decrease, falling by 0.88% to VND19,050.

    Global Oil Market Factors

    Numerous factors over the past week have impacted the global oil market. Among these factors was an announcement by OPEC+ of a lower-than-projected increase in oil production for the month of November. Further, a weakened global oil demand and persistent attacks on Russia’s energy facilities by Ukraine also played a significant role in shaping the market.

    As a result of these influences, the price of RON95 on the global market decreased by 1.1% to $78.2 per barrel, while diesel prices decreased by 3.5% to $83.4 per barrel.

    Questions & Answers

    What caused the decrease in Vietnam’s gasoline prices?
    There was a decrease in global oil demand, which precipitated a dip in Vietnam’s gasoline prices.

    How much did the price of RON95 and Biofuel E5 RON92 decrease in Vietnam?
    RON95 saw a decrease of 0.90% to VND19,720 per liter, while Biofuel E5 RON92 decreased by 0.88% to VND19,050.

    What were the primary factors affecting the global oil market?
    The global oil market was primarily influenced by a lower-than-expected increase in oil production for November announced by OPEC+ and weaker global oil demand. Ongoing attacks on Russia’s energy facilities by Ukraine also significantly impacted the market.

  • Fake Louis Vuitton, Gucci shoes seized in $1.3M Hong Kong counterfeit bust

    Fake Louis Vuitton, Gucci shoes seized in $1.3M Hong Kong counterfeit bust

    In a recent operation, Hong Kong officials intercepted an estimated HK$10 million worth of suspected counterfeit clothing and footwear, featuring labels from major brands such as Louis Vuitton, Gucci, and Nike. The operation, held between October 6 and 17, resulted in the confiscation of approximately 18,000 items and the arrest of two individuals, according to an announcement from the Hong Kong Customs and Excise Department.

    Details of the Seized Goods

    The confiscated merchandise included items bearing the branding of Nike, Adidas, Louis Vuitton, and Gucci. Officials believe these products were headed for foreign markets, specifically in Europe and America, to capitalize on the demand generated by large-scale global events.

    “Large events, such as sports shoe exhibitions, often see collectors and enthusiasts trading items on-site, which escalates the demand for high-quality counterfeit sports shoes,” explained Inspector Yeung Tit-fung from the department.

    Investigation and Legal Consequences

    The investigation into these cases is currently ongoing. The arrested individuals have been released on bail, pending further investigation. The Hong Kong legislation stipulates that importing or exporting products carrying a counterfeit trademark could lead to a maximum of five years imprisonment and fines reaching up to HK$500,000.

    The Customs Department revealed plans to intensify inspections and execute intelligence-driven operations to combat counterfeiting and trademark infringement activities.

    Previous Operations

    The department had previously conducted a week-long operation in late September, which focused on the city’s major shopping districts ahead of the Golden Week holiday. This operation resulted in the seizure of around 2,000 suspected counterfeit handbags, leather goods, and fashion accessories, with an estimated market value of HK$1.3 million.

    Questions & Answers

    What brands were predominantly featured among the seized goods?
    The seized items predominantly featured branding from major labels such as Louis Vuitton, Gucci, Nike, and Adidas.

    What are the legal consequences for importing or exporting counterfeit products in Hong Kong?
    In Hong Kong, the import or export of goods bearing a counterfeit trademark can result in up to five years of imprisonment and fines of up to HK$500,000.

    What measures are the Hong Kong Customs Department taking to combat counterfeiting?
    The Hong Kong Customs Department plans to enhance inspections and implement intelligence-led operations to prevent counterfeit and trademark infringement activities.

  • Goldman Forms Onshore Wealth Presence in Saudi Arabia

    Goldman Forms Onshore Wealth Presence in Saudi Arabia

    Goldman Sachs, headquartered in New York, is extending its international presence with the establishment of an onshore wealth management operation in Saudi Arabia.

    The banking giant is initiating an onshore private wealth management presence in Riyadh, Saudi Arabia, as per a recent announcement. To bolster this expansion, Goldman Sachs has appointed Yousef Alhozaimy and Khalid Soufi as private wealth advisors. The advisors will be based in Riyadh, and there is an active search to recruit more advisors and fill other roles.

    The One Bank Approach

    The American bank plans to utilize its “One Goldman Sachs” approach to serve its clients in Saudi Arabia holistically. This method capitalizes on the broad capabilities of the group, in cooperation with asset management, global banking, and markets colleagues.

    Rob Mullane, the co-head of private wealth management for EMEA at Goldman Sachs, expressed his delight over the expansion. He noted the dynamic nature of the Saudi Arabian economy and the sophistication of its investor base.

    He elaborated, “Our goal is to offer regional clients access to Goldman Sachs’ premier Private Wealth Management business. This will open up local and global investment opportunities and contribute to the local financial industry.”

    Questions & Answers

    What is Goldman Sachs’ latest expansion move?

    Goldman Sachs is establishing an onshore private wealth management business in Riyadh, Saudi Arabia.

    Who are the appointed advisors for the new Saudi Arabian operation?

    Yousef Alhozaimy and Khalid Soufi have been appointed as private wealth advisors for the Riyadh-based operation.

    What is the aim of this expansion according to the EMEA co-head of private wealth management at Goldman Sachs?

    Rob Mullane stated that the aim is to provide regional clients with access to Goldman Sachs’ leading Private Wealth Management business, thereby creating local and global investment opportunities and contributing to the local financial industry.

  • Joy Group Enhances Global Beauty Portfolio With Strategic Acquisition Of Italian Haircare Brand Foltène

    Joy Group Enhances Global Beauty Portfolio With Strategic Acquisition Of Italian Haircare Brand Foltène

    Joy Group, a multi-brand beauty corporation, has recently publicized its successful acquisition of Foltène, an Italian dermatological haircare brand. Renowned for its science-backed product design and innovation, Foltène utilizes two proprietary active complexes, namely Tricosaccaride and Tricalgoxyl. These ingredients are utilized to create products proven clinically to bolster thicker and fuller hair.

    The Scope of Global Acquisition

    The global acquisition extends to include Foltène’s brand assets, international distribution network, supply chain mechanisms, and its research laboratory situated in Italy. This critical business move bolsters Joy Group’s “multi-brand, multi-category, and international” business approach, paving the way for a comprehensive portfolio inclusive of colour cosmetics, hair care, and skincare products.

    Synergies and Growth

    The integration of Foltène into Joy Group’s portfolio is projected to generate robust synergies with the corporation’s existing brands. This strategic move will catalyze Joy Group’s sustained growth and innovation in the global beauty market. The company expressed optimism about the potential of this acquisition to enhance their position and stimulate further development in the international beauty landscape.

    Questions & Answers

    What is Foltène recognized for?
    Foltène is a renowned Italian dermatological haircare brand, recognized for its science-backed product design and innovation. The brand uses two proprietary active complexes, Tricosaccaride and Tricalgoxyl, to create products that promote thicker and fuller hair.

    What assets are included in Joy Group’s acquisition of Foltène?
    The acquisition includes Foltène’s brand assets, its global distribution network, supply chain systems, and research laboratory located in Italy.

    What impact will the acquisition of Foltène have on Joy Group?
    The acquisition is expected to generate robust synergies with Joy Group’s existing brands, driving the corporation’s sustained growth and innovation in the global beauty market. This strategic move will allow Joy Group to bolster its comprehensive portfolio of color cosmetics, hair care, and skincare products.

  • Okxe Unveils Inaugural Branch In Hanoi: A Major Step In Expanding Electric Vehicle Network In Vietnam

    Okxe Unveils Inaugural Branch In Hanoi: A Major Step In Expanding Electric Vehicle Network In Vietnam

    The inauguration of Okxe Vietnam’s inaugural branch in Hanoi, Yadea Okxe Tay Ho, marks a crucial stage in the expansion of the Okxe Station network. This move further reinforces the firm’s strategy to expand its electric vehicle sector, with the goal of advocating for a more sustainable and eco-friendly means of transportation. According to Okxe, making top global electric vehicle brands more accessible to Vietnamese shoppers is a part of their mission. They aim to provide “a one-stop-shop for every bike you’re looking for, at Okxe.”

    Strategic Collaborations

    In the past, Okxe partnered with VinFast for the distribution of electric motorcycles in Ho Chi Minh City. Currently, they have chosen Yadea, a leading electric motorcycle brand from China, as a strategic ally, providing Vietnamese consumers with another high-quality alternative in the electric vehicle market.

    Yadea Okxe Tay Ho Launch

    At Yadea Okxe Tay Ho, customers have the opportunity to browse a variety of contemporary electric motorcycles. This is complemented by after-sales services, official warranties, and consultations with professional staff. Their aim is to provide a holistic customer experience, starting from test rides to personalized recommendations, to assist customers in making informed purchasing decisions.

    Expansion and Customer Experience

    The opening of Yadea Okxe Tay Ho is part of a larger plan to increase operations and enhance customer experiences. By widening the availability of electric vehicles throughout its Okxe Stations, the company aims to advocate for eco-friendly transport in major urban areas.

    An Okxe representative explained, “This effort is more than just business expansion. It’s an important milestone in our journey to promote green mobility in Vietnam. Our objective encompasses more than just individual customers; we strive to assist businesses and organizations in transitioning to electric vehicles in a convenient and sustainable manner.”

    Electric Vehicle Community and Support

    On October 10, Okxe collaborated with Yadea to inaugurate the Okxe Tay Ho electric motorcycle showroom, referred to as a “Station”. This serves not just as a place to purchase bikes, but also as a social hub for users to connect, exchange experiences, and interact with others passionate about green mobility.

    In the near future, Okxe plans to establish the Yadea Hanoi Club, beginning at Yadea Okxe Tay Ho. This club will organize events and workshops where members can share tips on usage and maintenance, thereby fostering a dynamic community of electric vehicle users.

    Furthermore, the company intends to set up free EV charging stations at the station, allowing clients to recharge their vehicles and unwind, thereby enhancing the overall user experience. Okxe is committed to creating a comprehensive EV bike ecosystem where users can connect, engage, and develop together.

    These initiatives are in line with Okxe’s long-term development strategy and mission of “Supporting Your Driving Life”. The firm aims to support users throughout their entire vehicle ownership journey. In the future, Okxe plans to extend its station network to more locations, offering a wider product range from top domestic and international electric vehicle brands, thereby providing even more options to Vietnamese consumers.

    Questions & Answers

    What is Okxe’s mission?
    Okxe’s mission is to bring leading global electric vehicle brands closer to Vietnamese consumers. They aim to provide all types of bikes in one place at Okxe.

    What does the inauguration of Yadea Okxe Tay Ho signify?
    The opening of Yadea Okxe Tay Ho indicates a crucial stage in Okxe’s expansion strategy. It also marks the firm’s commitment to advocate for sustainable and eco-friendly transportation.

    What future plans does Okxe have for improving user experience?
    Okxe aims to enhance the user experience by setting up free EV charging stations at the station and allowing customers to unwind while their vehicles recharge. They also plan to further expand their network and offer a wider range of products from top-tier electric vehicle brands.

  • South Korean Beauty Brands Leverage Immersive Experiences For Enhanced Customer Engagement

    South Korean Beauty Brands Leverage Immersive Experiences For Enhanced Customer Engagement

    As the beauty industry becomes more competitive, leading South Korean beauty brands are transforming their stores into immersive spaces. These spaces offer customers an opportunity to trial products and gain a deeper understanding of the brand’s ethos.

    Space Dosan: A Unique Testing Ground

    APR Co, a significant player in the beauty industry, operates ‘Space Dosan’ in Seoul’s Sinsa-dong. Here, customers can try the Medicube skincare range and experiment with the brand’s beauty device – Age-R. Trying creams or perfumes can be straightforward, but the opportunity to test electronic skincare appliances, which call for time and careful instruction, has garnered special interest. Staff members are present to help customers with product applications and device usage. This service was so well-received in the store’s initial phase that appointments had to be made by reservation. According to an APR official, some international visitors said they visited specifically to see and try the products personally. “Offering a direct, in-person experience is becoming crucial to expressing a brand’s complete value,” they said.

    Sulwhasoo: Storytelling and Ginseng Classes

    Amorepacific’s Sulwhasoo brand is placing a focus on experiences that tell a story and reflect its heritage. The brand’s Bukchon Sulwhasoo House in central Seoul hosts the popular ‘Ginseng Class.’ This hands-on workshop underscores six decades of ginseng research. Here, participants can make tailored ginseng-scented sachets and bath soaks using Sulwhasoo’s signature ‘Beauty Saponin’ and ‘Jaumdan’ ingredients. Since the reservations opened in July, more than 1,800 people have signed up in just a few days. The sessions continue to sell out within an hour each month, and a modest participation fee was introduced this month. The program, which will soon be available to foreign tourists, aims to increase awareness of the cultural and cosmetic importance of ginseng.

    The History of Whoo: Beauty Classes

    LG Household & Health Care is another beauty industry stalwart providing beauty classes for its product line, The History of Whoo. These classes are offered to department store VIP clients, who have achieved a specific spending level at luxury stores like Lotte and Shinsegae. Each session, with around ten participants, includes traditional experiences such as crafting a royal pouch and enjoying private catering. Since January, approximately 900 customers have participated. An LG H&H representative said, “These classes allow VIPs to connect with our brand identity as a ‘royal dermatology’ cosmetics line.” Meanwhile, LG H&H plans to expand such offline experiences to provide a distinct, premium interaction that reinforces The History of Whoo’s prestige.

    This trend in South Korea’s beauty sector mirrors a broader transition: the sale of not just products but sensory experiences that connect brand identity, tradition, and technology. This strategy is seen as critical in maintaining customer loyalty in an increasingly crowded global market.

    Questions & Answers

    What are the unique experiences Korean beauty brands are providing?
    Korean beauty brands are offering unique experiences that combine product trials with brand storytelling. Examples include the trial of skincare devices at Space Dosan, the ginseng classes provided by Sulwhasoo, and The History of Whoo beauty classes catered to VIP clients.

    What is the purpose of these experiences?
    These experiences aim to create a direct, offline connection between the customer and the brand. They allow customers to understand and appreciate the brand’s complete value, heritage, and identity.

    How are these experiences impacting customer engagement and loyalty?
    These immersive experiences are helping brands stand out in a crowded market and are seen as key to retaining customer loyalty. They provide a unique, sensory encounter that allows customers to connect more deeply with the brand.

  • Chagee Holdings Stands Firm On Premium Pricing Amid Falling Sales And Rising Competition

    Chagee Holdings Stands Firm On Premium Pricing Amid Falling Sales And Rising Competition

    Chinese beverage company Chagee Holdings is maintaining its focus on premium products, even in the face of falling sales and profits as customers turn to more affordable competitors. The company’s co-founder, Shang Xiangmin, stated in a recent interview, “We haven’t been fully engaged in the price wars. Price wars may be a way to compete but we want to stick to our long-term strategy to build a premium brand.”

    Unchanged Pricing Strategy Amidst Competition

    Despite the growing competition from domestic companies like Luckin Coffee and Mixue Group, who are offering subsidized, deeply discounted beverages, Chagee Holdings remains firm on its pricing strategy. These competitors have teamed up with China’s tech giants to sell drinks at a fraction of Chagee’s price.

    Chagee’s flagship store in Hong Kong is experimenting with a new selection of drinks made from premium Chinese tea leaves. These drinks are brewed in-store by specialists and are sold at prices that are on par with single-origin coffee sold at Starbucks Reserve outlets in the city, ranging from HKD40 to HKD50 (US$5.2-6.4).

    Second Quarter Sales and Future Outlook

    The company’s adherence to its pricing strategy has seen second-quarter sales growth slow to 10%, down from 35% in the previous period. Adjusted operating income has also dropped by 10%, compared to the double-digit increases seen in the first quarter. This weak performance has wiped out nearly a quarter of its market value. Despite this, the company remains optimistic and is not deterred by the decrease in competitiveness. Chagee has decided to follow a development path similar to that of American coffee giant, Starbucks.

    “We’ve always wanted to go down the same path to take tea further,” said Shang, comparing Chagee’s ambitions to those of Starbucks.

    Expansion Plans

    Chagee opened its first U.S. store in Los Angeles in May, following its debut on the Nasdaq. The company operates more than 200 international outlets as part of its network of over 7,000 stores. It reported a 70% jump in overseas sales in the second quarter, with Southeast Asia being a key target for expansion.

    Questions & Answers

    What is Chagee Holdings’ strategy in the face of competition?
    Despite falling sales and profits, Chagee Holdings is maintaining its focus on premium products and has not engaged in price wars with its competitors.

    What are some of the offerings at Chagee’s flagship store in Hong Kong?
    The flagship store in Hong Kong offers drinks made from premium Chinese tea leaves, brewed in-store by specialists, and priced similarly to single-origin coffee at Starbucks Reserve outlets.

    What are Chagee’s future plans for expansion?
    Chagee plans to follow a development path similar to that of Starbucks. The company recently opened its first U.S. store in Los Angeles and is targeting Southeast Asia for further expansion.

  • Singapore Changi Airport Sees 3.1% Surge In Passenger Traffic Amid Robust Asian Travel Demand In Q3 2025

    Singapore Changi Airport Sees 3.1% Surge In Passenger Traffic Amid Robust Asian Travel Demand In Q3 2025

    Between July and September 2025, Singapore Changi Airport experienced a 3.1% year-on-year increase in passenger movement, handling approximately 17.3 million passengers. The number of aircraft movements, encompassing takeoffs and landings, remained fairly consistent with the same quarter of the previous year, totaling 91,600.

    Leading Markets

    The primary markets for Changi Airport during this period were China, Indonesia, Malaysia, Australia, and India. Among the top 10 markets, China and Vietnam displayed the most substantial growth, at 9.7% and 11.3% respectively. The leading city connections for the quarter were Kuala Lumpur, Jakarta, Bangkok, Denpasar (Bali), and Shanghai. Notably, the Singapore–Jakarta route exhibited double-digit growth.

    Airfreight Throughput

    During the third quarter, Changi Airport recorded an airfreight throughput of 531,000 tons. This figure represents a 3.7% increase year-on-year. Despite ongoing global trade uncertainties, air trade at Changi grew, with imports showing substantial growth of 10% compared to 2024 levels. The main air cargo markets for the quarter were China, the United States, Australia, Hong Kong, and India.

    Executive Remarks

    Executive Vice President for Air Hub and Cargo Development at Changi Airport Group, Mr. Lim Ching Kiat, stated that Changi Airport continues to capitalize on the positive travel demand this quarter, especially on Asian routes. The airport is extending its network with new airlines and destinations, which further enhance Changi’s regional connectivity. The airport is preparing for the year-end travel season, promising greater convenience and additional ways for travelers to explore both new and familiar destinations.

    New Services

    On 11 August, new Indonesian airline Pelita Air began operations at Changi Airport, offering daily flights between Singapore and Jakarta. This development expands Changi’s network to include about 100 airlines. New city links have been added to Changi’s network with the launch of Hainan Airlines’ four-times-weekly Singapore–Haikou–Changchun service on 22 September, and Loong Air’s three-times-weekly flights to Zhangjiajie on 9 October. Lion Group affiliate Batik Air Malaysia will begin new daily flights to Ipoh, Penang, and Subang from 8 December 2025 to accommodate the group’s growth and increasing regional travel demand.

    In addition, Scoot has introduced new routes to four Indonesian cities – Labuan Bajo, Medan, Palembang, and Semarang – providing travelers with more travel options across the archipelago.

    On the air cargo front, Changi Airport welcomed JD Airlines’ thrice-weekly Shenzhen freighter services, providing more shipping options for Southeast Asia and China.

    As of 1 October, approximately 100 airlines operate around 7,000 scheduled weekly flights at Changi Airport, linking Singapore to over 160 cities in 50 countries and territories worldwide.

    Questions & Answers

    **What were the leading markets for Singapore Changi Airport in Q3 2025?**
    The top five markets for Changi Airport during the third quarter of 2025 were China, Indonesia, Malaysia, Australia, and India.

    **What was the total airfreight throughput at Changi Airport in Q3 2025?**
    In the third quarter of 2025, Changi Airport recorded an airfreight throughput of 531,000 tonnes.

    **Which new airlines began operations at Changi Airport during this period?**
    New Indonesian carrier Pelita Air began operations at Changi Airport on 11 August, and Hainan Airlines and Loong Air introduced new city links in September and October respectively.

  • HSBC’s $13.6b Acquisition Of Hang Seng Bank: Independent Advisor To Evaluate Risks

    HSBC’s $13.6b Acquisition Of Hang Seng Bank: Independent Advisor To Evaluate Risks

    Hong Kong’s Hang Seng Bank has enlisted the services of an independent advisor to evaluate its impending takeover by HSBC. Somerley Capital, a financial advisory firm, has been tapped to scrutinize the details of the deal, according to a recent filing made to the exchange.

    HSBC’s Proposed Acquisition

    Earlier this month, British banking giant HSBC, which currently holds a 63% stake in Hang Seng Bank, disclosed its intention to acquire the remaining shares and privatize the local bank. The proposed deal is estimated to be worth HK$106 billion ($13.6 billion).

    HSBC’s Chief Executive Officer, Georges Elhedery, has described the initiative as a strategic move aimed at boosting growth. However, there have been several concerns raised by observers about the potential risks the bank could be taking on.

    Assessing Risks

    Critics have noted that the acquisition would mean HSBC absorbing the risks associated with a decline in Hong Kong’s commercial real estate sector. Hang Seng Bank has reported HK$25 billion worth of impaired loans in this sector for the first half of 2025. As such, this deal would expose HSBC to the potential economic fallout from this downturn.

    Questions & Answers

    What is HSBC’s proposed acquisition of Hang Seng Bank worth?
    The acquisition is proposed to be worth HK$106 billion ($13.6 billion) and would see HSBC owning all shares in Hang Seng Bank.

    Who has Hang Seng Bank appointed as an independent advisor for the deal?
    Hang Seng Bank has appointed Somerley Capital as an independent financial advisor to assess the proposed acquisition.

    What risks are associated with HSBC’s planned takeover?
    The key risk associated with the takeover is the exposure to the downturn in Hong Kong’s commercial real estate sector, with Hang Seng Bank having reported impaired loans worth HK$25 billion from this sector in the first half of 2025.

  • DBS CEO Outlines Singapore’s Success Strategy Amid Economic Uncertainty

    DBS CEO Outlines Singapore’s Success Strategy Amid Economic Uncertainty

    In a recent speech, DBS CEO Tan Su Shan discussed Singapore’s approach to the current unpredictable macroeconomic climate, emphasizing the role of trust as a crucial factor for ongoing success.

    Trust as the Foundation of Singapore’s Success

    Tan Su Shan highlighted how Singapore has positioned itself as a reliable center for entrepreneurs to safeguard data and intellectual property, enable interoperability, and create experimental environments in sectors including healthtech, biotech, and software.

    She noted that Singapore has cultivated a valuable asset over time – trust. Recalling a meeting with Jack Ma around a decade ago, she shared his insight on the significant trust that Singapore has earned globally.

    Tan Su Shan stated that Singapore has played a critical role in various fields, ranging from private banking, wealth management, pharmaceuticals, health supplements to food, serving as a bridge between East and West. She emphasized the city-state’s continued significance as a trusted hub in today’s globalized world.

    The Four D’s Framework

    Regarding Singapore’s reaction to the ongoing global uncertainty, Tan proposed a framework called the “four D’s”. It comprises:

    1. Defending the nation’s existing strengths
    2. Disrupting the environment to prevent complacency
    3. Embracing the digital age
    4. Diversifying supply chains and consumer demand sources

    She concluded her speech by introducing a bonus “D”, reflecting on the improbable success of Singapore as a nation, and the boldness and ambition it represents.

    The Last D: Dependable DBS

    Tan Su Shan called on partners to consider the last “D” – DBS Bank. She emphasized how DBS serves as a dependable partner, sharing the global dreams of its clients, and fostering their success and growth to new heights.

    Questions & Answers

    What are the “four D’s” proposed by DBS CEO Tan Su Shan?
    The “four D’s” are Defending existing strengths, Disrupting to avoid complacency, embracing the Digital age, and Diversifying supply chains and sources of demand.

    What does the last “D” in Tan Su Shan’s speech refer to?
    The last “D” refers to DBS, emphasizing the bank’s role as a dependable partner that shares the global ambitions of its clients and supports their success.

    How has Singapore established trust globally, according to Tan Su Shan?
    Tan Su Shan highlighted that Singapore has earned trust globally by serving as a reliable hub for a multitude of sectors, maintaining data and intellectual property security, and fostering innovation in industries like healthtech, biotech, and software.

  • Hermès Hopes For China Demand Revival Despite Slight Slip In Quarterly Sales

    Hermès Hopes For China Demand Revival Despite Slight Slip In Quarterly Sales

    Renowned for its Birkin bags, Hermès reported a potential upturn in demand from China, despite quarterly sales falling slightly short of estimates, resulting in a 4% decline in its shares on Wednesday.

    The mild optimism regarding Chinese demand, which contributes to approximately a third of worldwide luxury sales, is also reflected by competitors LVMH and L’Oreal.

    “There was a very mild improvement in the third quarter,” commented Eric de Halgouet, the Finance Chief of Hermès, attributing this to stable real estate prices in major cities and positive trends in the stock market.

    Last week, LVMH’s sales report initiated an $80 billion surge in luxury shares, fostering hopes of a revival of the industry in China. However, analysts have expressed caution, stating it might be premature to declare an end to the industry’s two-year decline.

    Meanwhile, in the United States, foot traffic in Hermès stores has increased evenly across all regions, de Halgouet reported, adding that the company plans to continue investing in the US, having recently inaugurated a new store in Nashville.

    The brand has refrained from raising prices domestically this year, following a 5% increase in May intended to pass the burden of tariffs onto its customers, as per de Halgouet.

    Growth Falls Short of Expectations

    The sales for the quarter ending in September totaled 3.88 billion euros ($4.52 billion), a 9.6% increase, bolstered by growth in the US. However, this was marginally below the predicted 10% growth, as per the Visible Alpha consensus cited by UBS.

    Hermès shares decreased by 4.2% at 0832 GMT, following the trading update. The company’s control over its production, which has served as a buffer against a broader downturn, is anticipated to restrict its growth rate as consumer demand recovers more generally.

    Sales of leather goods, including the signature Birkin, Constance, and Kelly handbags, grew by 13.3%, slightly below expectations. De Halgouet attributed this to limited inventory, which he assured would be replenished before the Christmas season and Chinese New Year.

    While Hermès’ consistent performance may be viewed as uninteresting compared to the ongoing transformations at other brands, its shares briefly surpassed LVMH’s earlier this year, making it the largest luxury group in terms of market capitalisation. Nevertheless, the company’s shares have trailed competitors in the past three months, as investors shifted their focus to the improving performance of LVMH and Kering, which have increased by 31% and 65% respectively.

    Unlike competitors such as Chanel and Dior, Hermès, which raised its prices less aggressively during the post-pandemic surge, increased its prices globally by 7% this year.

    Sales of clothing, jewellery and silk scarves, products that appeal to a broader customer base than the exclusive handbags, experienced a slight increase in the third quarter.

    Questions & Answers

    What is the cause of the slight increase in Hermès’ sales?
    The sales growth is attributed to the steady foot traffic in Hermès stores across all regions in the United States and a potential increase in demand from China.

    What is the company’s response to the slight shortfall in sales growth?
    Hermès plans to continue its investments in the United States and replenish its inventory of leather goods before the Christmas season and Chinese New Year to boost sales.

    How did Hermès’ shares compare with its competitors?
    While Hermès’ shares have trailed its competitors in the past three months, they briefly surpassed LVMH’s earlier this year, making it the largest luxury group in terms of market capitalisation.

  • Luk Fook Holdings Posts Double-digit Growth In Q2, Eyes Expansion In Mainland China

    Luk Fook Holdings Posts Double-digit Growth In Q2, Eyes Expansion In Mainland China

    In the second quarter ending September 30, Luk Fook Holdings, a prominent jewelry group, has revealed impressive double-digit growth in several critical indicators.

    Retail Sales Value on the Rise

    The group recorded an 18% year-on-year increase in Retail Sales Value (RSV) during the quarter. RSV, which encompasses self-operated shops, licensed outlets, and e-commerce ventures, saw a significant upturn.

    Retail revenue, made up of earnings from self-operated stores and e-commerce businesses, escalated by 15%. Concurrently, the group also experienced a 10% rise in same-store sales. The management attributed this robust growth, which surpassed the first quarter’s figures, partly to the low base during the same period the previous year.

    Regional Sales Growth

    In the Hong Kong, Macau, and overseas markets, the group noted a 13% increase in both RSV and retail revenues. Same-store sales grew by 13% in Hong Kong, 15% in Macau, and 13% in overseas markets.

    In Mainland China, the RSV surged by 20%, and retailing revenues swelled by 23%. The increment in same-store sales at company-operated locations was a modest 3%, while licensed shops saw a leap of 27%. Licensed stores constitute approximately 93% of the group’s total shop count in Mainland China.

    Performance by Category

    RSV’s growth varied across different categories. The value rose by 78% for gold and platinum products, increased by 16% for fixed-price gold items, and crept up by 3% for diamonds.

    As of September 30, the group had 3113 shops worldwide. There was a net reduction of 49 shops in the second quarter.

    Future Prospects

    The group maintains a cautiously optimistic outlook on its medium- and long-term business opportunities in Mainland China and plans to continue expanding in the market when the timing is right.

    Despite the ongoing US tariff policies affecting the global economy and the escalating China-US tensions, the Mainland government has implemented a “dual circulation” strategic layout to stimulate domestic demand, as observed by the retailer.

    Questions & Answers

    What was the percentage increase in Luk Fook Holdings’ Retail Sales Value (RSV) in Q2?
    It saw an 18% year-on-year increase in RSV during Q2.

    What contributed to the robust growth Luk Fook Holdings experienced in Q2?
    The growth can be attributed to the low base during the same period the previous year and the increase in both RSV and retail revenues in several markets.

    What is Luk Fook Holdings’ future plan for expansion in Mainland China?
    The group plans to continue expanding in the Mainland China market when the timing is appropriate, with a cautiously optimistic outlook on its medium- and long-term business opportunities.