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  • Competition cramps Country Style

    Competition cramps Country Style

    Country Style Cooking Restaurant Chain, a quick service restaurant operator in China, says sales fell in the third quarter, despite the opening of 10 new outlets.

    In the three months to September 30, the company expanded its network to 355 restaurants,a net 23 more than a year ago. The new openings included six under the brand name Mr Rice.

    Country Style Cooking said it currently anticipates its revenue for the third quarter of 2015 to be about RMB388 million (US$61 million), compared to RMB409.1 million (US$64 million) in the same quarter of 2014.

    “The lower-than-expected revenue was mainly due to the intensified competition, which also negatively impacted the company’s quarterly same store sales,” it said in a statement.

    It plans to report its third quarter 2015 results in mid-November.

    Country Style directly operates all of its restaurants under brands of CSC and Mr. Rice and is the largest quick service restaurant chain in Chongqing municipality, the home of Sichuan cuisine.

  • ViewQwest exports Singapore fibre broadband network design to Oman

    ViewQwest exports Singapore fibre broadband network design to Oman

    Singapore’s fibre broadband service provider ViewQwest has exported its local network know-how to Oman, which plans to bring fibre links to some 90 per cent of homes in its capital city of Muscat and 35 per cent of other governorates.

    This translates to some 225,000 homes in Muscat, which is expected to start trialing Internet surfing at speeds of up to 1Gbps – or 100 times faster than current technologies – on November 18.Commercial launch is scheduled for an unspecified date next year.

    Oman has 500,000 households in total.

    The architecture of Oman’s fibre broadband network is similar to that of the Singapore government-backed Next Generation Nationwide Broadband Network (NGNBN), from which ViewQwest leased wholesale fibre capacity to provide a retail service.

    In Singapore, fibre links are brought all the way to homes with a termination point installed within the home. Similarly, Oman’s government-owned Oman Broadband Company is bringing fibre links to just outside homes. When a customer places an order for broadband service, the fibre optic cable is then pulled into the home with the installation of a termination point.

    “We are inspired by Singapore’s strategic approach to the implementation of NGNBN and we hope to emulate that success in Oman as we connect homes and offices nationwide,” said Ghaith Al Darmaki, programme director of Oman’s sole fibre broadband service provider, Awasr.

    “Our network has been built using the same equipment and methods as ViewQwest,” he added.

    Said Vignesa Moorthy, chief executive officer of ViewQwest: “We are proud of our role in Singapore’s successful transition to a smart nation and look forward to creating a similar experience in Oman.”

    ViewQwest is not the only local fibre broadband provider which ventured overseas. Late last year, MyRepublic started its fibre broadband services for business users in New Zealand.

    The Infocomm Development Authority (IDA), which spearheaded Singapore’s NGNBN, said it is delighted that local companies are making waves overseas.

    “The learnings that these companies have picked up through their successes here will be instrumental in helping them address the global market opportunities to propel their international growth,” said IDA assistant chief executive Khoong Hock Yun.

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  • Japanese beauty e-tailer takes slice of Vanitee

    Japanese beauty e-tailer takes slice of Vanitee

    The Japanese online beauty retailer @Cosme has bought a stake in Singapore website Vanitee, described as a “digital marketplace for beauty artists”.

    Neither the value of the investment, or the size of the stake acquired was disclosed by either party.

    Vanitee was founded just 12 months ago by Douglas Gan, Kuik Xiaoshi and Choy Peng Kong. It has already secured investment funding from Luxasia Group, amongst others, amounting to several million Singapore dollars.

    With a database of about 3000 customers already, Vanitee is now looking to expand further into Asia, especially in the north.

    @Cosme, a subsidiary of Japan’s istyle inc, has physical retail stores in Tokyo and Osaka and runs eCommerce websites and and an online spa guide. Besides its focus on the Japanese market, istyle is increasingly targeting customers in Greater China.

    CFO Kei Sugawara says the Vanitee investment marks the company’s first expansion into Southeast Asia

    “We are thrilled to work with Vanitee to stretch the @Cosme footprint beyond Japan. We will focus our efforts to revolutionise how consumers in Singapore and Southeast Asia purchase and experience cosmetics and beauty products and services.”

    Gan, who is Vanitee’s CEO, said the company has been successful in securing investment because of its ability to communicate its vision, and business goals.

    “[Investors] love entrepreneurs with big ideas who have the humility to get their hands dirty and get things done.”

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  • How Chinese shop in Korea

    How Chinese shop in Korea

    Japanese and South Korean retailers are smiling… but these scenes are enough to make a Hong Kong retailer weep: Watch how Chinese shop over Golden Week… in Tokyo, Seoul or Boston… Not in Hong Kong, their traditional destination.

    Chinese tourists, famous for leaving shelves bare when they shop abroad, went on a shopping spree in Korea, Japan and the US during last week’s National Holiday of the People’s Republic of China, better known in Asia as Golden Week.

    Tour guides say that the average Chinese tourist that visits Japan spends approximately 20,000 to 30,000 Yuan, which is around US$3140 to $4720, on shopping.

    Shopping is actually the main reason for travel during Golden Week.

    This year, Chinese tourists flocked to duty free stores in Seoul, Busan and Jeju, as shown in the photographs, as well as large discount stores and markets, clearing shelves of stock, according toKoreabizwire and Yonhap news service.

    The Korean press reported instances of Chinese tourists buying “hundreds of thousands of won worth of cosmetics” in just two to three hours at duty free stores.

     

    In Japan, Chinese tourists were bought over the counter drugs in bulk: cough medicine, painkillers, glasses, sleep shades and stationary are popular Japanese products among Chinese tourists. Baby products, also.

    Earlier this year, during the Chinese New Year Holiday, Japanese electronic rice cookers and bidets were cleaned off the shelves by Chinese tourists.

    In the US there were similar stories, Koreabizwire reported.

    According to a local tour operator in Boston, Chinese tourists stopped by a Gucci Outlet to buy bags, and most of them bought three or four bags at once, with some purchasing as many as seven at once.

    “They were shopping as if they were just grabbing free stuff,” said a local guide.

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  • Cold Stone Creamery Cambodia plans 13 stores

    Cold Stone Creamery Cambodia plans 13 stores

    Kahala Brands has appointed a master franchisee for Cold Stone Creamery Cambodia, with the first store set to open in six months.

    Over the next five years, 13 Cold Stone Creamery locations will open in Cambodia, the first scheduled for the capital city Phnom Penh sometime during the next six months.

    TH Group has won the master franchise rights to open locations throughout Cambodia.

    TH Group is a leader in the automotive market, with over 20 years of experience in Cambodia. It holds 35 per cent of the auto market share in the country, making it the largest importer/wholesaler of US automobiles in Cambodia, selling new and used luxury cars.

    “Our economic growth here in Cambodia has risen and to us, that implies that the standard of living is improving here,” said Hav Norm, MD of TH F&B Co.

    “Therefore, the people of Cambodia are looking for premium, high-quality brands that they can indulge in and trust. Cold Stone Creamery is a super-premium brand that will be a perfect fit in our market.”

    “We are extremely confident in TH Group as they have more than 20 years of experience in Cambodia and have great in-depth and comprehensive knowledge of the marketplace,” said Eddy Jimenez, senior VP of international operations and development at Kahala.

    “TH Group understands consumer demands, preferences and perceptions, making it a business leader in its country.”

    Cold Stone Creamery has continued to make strong key moves into the international market over the last decade. Today, Cold Stone Creamery stores are operating in over 300 international locations and in 26 countries abroad, including Japan, the Philippines, Kuwait, Qatar, Trinidad, Nigeria, Egypt and Indonesia. Kahala signed up a master franchisee in Vietnam in June.

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  • US, Asia weigh down Hugo Boss

    US, Asia weigh down Hugo Boss

    Deterioration of the market environment in Asia and a slowdown in the Americas weighed on sales and earnings performance of German fashion brand Hugo Boss in the third quarter of 2015

    The company said its sales were marked by “high levels of volatility” in the third quarter to September 30. The group’s own retail business in particular developed unevenly over the period.

    “While performance in Europe remained strong and in line with original expectations, momentum in Asia and the Americas deteriorated considerably towards the end of the period. This was due to sales declines in China as well as a negative development in the Group’s US own retail and wholesale businesses,” the company said in a statement.

    “Weaker demand from tourists contributed to the slowdown in the US.”

    Third quarter group sales declined one per cent, excluding currency effects. Expressed in euros, they increased by four per cent to euro 744 million. Own retail same store sales remained stable year on year in local currencies.

    “Due to particularly challenging sales trends in the group’s directly operated stores as well as continued investments in the medium- and long-term growth potential of Hugo Boss, EBITDA before special items declined by eight per cent to euro 168 million in the third quarter, on a preliminary basis,” the company reported.

    “In addition, the group’s financial result was impacted by a negative charge of around euro 16 million related to adverse exchange rate movements of the Brazilian Real and the Swiss Franc in particular.”

    In light of weaker than expected trading in the third quarter, the group now forecasts sales and EBITDA to both increase between three and five per cent on a currency-adjusted basis in the full year.

    “This outlook is based on the assumption that fourth quarter retail comp store sales will remain stable or develop positively compared to the prior year quarter.”

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  • Mitra Adiperkasa to launch in Sri Lanka

    Mitra Adiperkasa to launch in Sri Lanka

    Indonesian multi-brand retailer Mitra Adiperkasa is planning a foray into Sri Lanka, attracted by the opening economy and a growing middle class.
    Mitra Adiperkasa (MAPI) describes itself as a lifestyle retailer in its home market with retail businesses in the clothing, sportsgoods and toy categories as well as operating department stores, cafés and restaurants. It boasts 1900 stores, selling more than 150 brands and employs more than 23,000 people in 65 cities.

    MAPI operates Starbucks cafes across Indonesia and has the national Zara rights, among others.

    The Sri Lankan move was not announced by the company, instead revealed by Jatinder Biala, outgoing president of the Sri Lanka and Indonesia Business Council who identified MAPI as one of a group of Indonesian businesses interested in making the most of the opportunities opening up in the island nation.

    “They have already taken steps to promote their products in Sri Lanka,” Biala told a local newspaper. “Very soon they are opening a subsidiary in Sri Lanka.”

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  • UOB sells Brunei retail banking business to Baiduri Bank for $46.6m

    UOB sells Brunei retail banking business to Baiduri Bank for $46.6m

    The Brunei unit of United Overseas Bank (UOB) has offloaded its retail banking business to Baiduri Bank Berhad for BND65 million ($46.6 million).

    With the approval of a court declaration, banking and credit facilities made to customers of UOB Brunei and the current, saving and fixed deposit accounts maintained by the clients of UOB Brunei will be transferred to Baiduri.

    According to UOB, the sale consideration of $46.6 million, less the deposits in transferred accounts, will be settled as a cash payment. Arrived at on a willing-buyer-willing-seller basis, it took into consideration account income potential and estimated loan defaults of the retail banking business.

    The sale is part of a move to “rationalise its businesses and operations to achieve cost efficiencies and to focus on building a business platform that is consistent with the business prospects in the country”.

    According to official statements, the sale of its Brunei retail banking unit is also not expected to have any impact on UOB Group for FY2015.

    UOB Brunei will continue to offer wholesale banking services to Brunei clients, as well as continuing its asset management presence there through UOB Asset Management.

    This latest move gels with UOB’s aim of developing itself as a super-regional bank and growing its presence in the Asia Pacific (APAC) region, given the opportunities presented by the growth narrative defining the current economic climate of the region – notwithstanding China’s market turbulence – and the growing middle class of the region.

    In August 2014, Wee Ee Cheong, the CEO of UOB, explained to The Straits Times that due to the acquisition of Overseas Union Bank (OUB) in 2001 and its integration into the UOB Group, the large market concentration in Singapore forced them to take a regional growth approach. Wee had told the Straits Times: “How would the group grow from there? And so we said it would be timely for us to expand regionally to have an effective presence in South-east Asia.”

    Wee explained: “…growing our intra-regional businesses would make our earnings more sustainable and deepen existing relationships. If I have a regional banking relationship with my customer and the banks with me in Indonesia and Thailand because of my footprint, it will be easier for us to grow the banking relationship.”

    Since 2013, its profit growth has become skewed to foreign markets beyond its base and global headquarters in Singapore. The divestment reflects a move to consolidate its holdings in the region, as Brunei is the smallest market in the Southeast Asian region. This move is aligned with its decision to pursue organic growth and M&A opportunities as part of expanding its business operations.

    In June 2015, it disclosed that it was in the process of pursuing a digital revamp, given the recent growth of the worldwide financial technology space. As of 21 October 2015, a Bloomberg quote placed its market capitalisation at S$32.03 billion (US$23 billion).

  • Artway sales surge

    Chinese electrical retail giant Gome says sales by its takeover target Artway during the first half year rose 7.85 per cent year on year, to RMB10.858 billion.

    Same store sales rose 3.66 per cent overall, while in second tier cities same store sales rose 5.93 per cent, demonstrating the success of Artway’s focus on smaller centres.

    Gross profit margin rose by 0.85 percentage points to 20.28 per cent.

    Profit for the period was RMB256 million, up 75.34 per cent compared to the same period last year.

    Gome Electrical Appliances, the Hong Kong-listed Chinese electrical appliances retailer – is planning to spend US$11.268 billion acquiring rival Artway, allow it to expand its presence from 269 cities to 436 cities across Mainland China.

    As at June 30, Artway operated 590 stores, including eight self-owned stores, covering 17 provinces in China (including Jiangsu, Zhejiang, Shanghai, Fujian, Jiangxi, Hunan, Hebei, Henan, Liaoning, Jilin, Heilongjiang, Inner Mongolia, Shanxi, Guizhou, Guangxi, Shaanxi and Xinjiang). It opened 56 stores and closed 22 in the six month period, representing a net increase of 34 stores.

  • Hong Kong retail rents weaken further

    Hong Kong retail rents weaken further

    Hong Kong retail rents weakened further in the third quarter – and worse is to come, according to CBRE’s quarterly review.

    Against a backdrop of a seven per cent fall in watch and jewellery sales in July and August combined, there was an increase in lease surrenders by luxury brands and high-value retailers on tier one streets, the review said.

    “Overall rents in core locations slumped 9.1 per cent quarter on quarter, the largest quarterly decline recorded since 1998.”

    Among the four core submarkets, rents in Causeway Bay fell the most severely – by 11 per cent quarter on quarter – taking the total year to date decline to 22 per cent.

    “Rents in Central, Tsim Sha Tsui and Mong Kok declined by 9.2 per cent, 7.0 per cent and 7.6 per cent quarter on quarter, respectively.

    “Mid-range retailers are attempting to regain their foothold in prime locations. Cosmetics retailers, sportswear brands and fitness centers were the most active sectors in Q3.”

    Joe Lin, executive director, retail services, CBRE Hong Kong​ said the top tier retail market led the deterioration.

    “The shift in mainland Chinese tourist spending patterns coupled with slower tourist arrivals continued to erode confidence among luxury retailers. This resulted in more cases of lease surrender and rental cuts for tier one street shops by jewellery and luxury retailers. We expect the rental downcycle to continue in Q4.”

    Lin predicts average rents for space in core retail locations will continue to decline in Q4, with the full year rental downward adjustment for 2015 projected at between 20 and 25 per cent.

    “Non-luxury retailers are set to be the main driver of retail leasing demand in Hong Kong.

    “Leasing transactions signed over the past two quarters at lower rents in tier one streets will set new benchmarks for lease negotiations in the coming months.”

  • Courts Indonesia to open second megastore

    Courts Indonesia to open second megastore

    Singapore-headquartered Courts says it will open a second megastore in Indonesia.

    The new 24,000 sqm store is already under construction on a 2.2 hectare site in Bumi Serpong Damai, southwest of the capital city Jakarta.

    Courts Indonesia CEO Roy Santoso told a media briefing the store will sell at least 12,000 items from 200 local and international brands. All the electronics and home appliances are local products.

    “The store spaces will be grouped into four segments: ‘Play’ for electronics, ‘Live’ for home appliances and accessories, ‘Sleep’ for beds and ‘Relax’ for furniture,” he said.

    Courts Indonesia will open the new store in December. It will be the retailer’s fourth store, little more than a year after it first opened in the market, and the company plans up to 12 by 2019, along with an eCommerce site which should be operational by the end of this year. Its investment in the market to date is now US$8 million.

    “In these kind of economic conditions, we have to have a sustainable development plan. To reach breakeven, we plan to open two to three smaller-sized stores within two years,” Roy said.

    “Our initial plan had been to have one megastore in each western and eastern part of Greater Jakarta. The eastern part is Bekasi and the western part is BSD. We can still have vast area to build a megastore in BSD,” Roy said.

    “Courts also targets various classes of income groups. In our stores we segment our products into good, better and best so that people can choose. And BSD is easily accessible for people with different income who live in Bintaro and Pondok Indah in South Jakarta and Karawaci in Tangerang, other satellite cities with high numbers of population.”

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  • JD.com opens US office

    JD.com opens US office

    JD.com, China’s largest online direct sales company, has opened its first US facility, a new research and development center located in Silicon Valley.

    Situated in Santa Clara, the new office will focus on developing and enhancing new and existing technologies that will improve the user experience for its customers in China and boost the company’s offerings.

    The facility will also allow easier interactions between the company and US retailers, partners and brands seeking to establish or expand their presence in China on JD’s shopping platforms.

    “Given the scope and strength of American brands, products and capabilities, the US was the obvious choice as we sought a location for our first office outside of Asia,” said Richard Liu, founder and CEO of JD.com.

    Chen Zhang, senior vice president of JD.com and head of R&D for JD Mall will initially oversee the new office, which will focus on areas such as cloud computing, mobile applications and big-data infrastructure, and will provide both rotational job possibilities for engineers in China and opportunities for certain skilled technical workers in the area.

    Last July JD.com launched US Mall on its website, dedicated exclusively to meeting the demand in the Chinese market for authentic imported American products.

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  • Aeon takes more of Japan to Hong Kong

    Aeon takes more of Japan to Hong Kong

    The newly refurbished Aeon Tsuen Wan store has made the most of its Japanese parent’s design and range influence as it aims to capture more of the suburb’s rising affluence.

    Aeon Stores invested $30 million renovating the store which formally reopened last week.

    MD Christine Chan says the store has adopted more Japanese elements to satisfy the rising demand of local residents in the district.

    “In recent years, the increasing consumption power of residents in Tsuen Wan has raised their demand on the standard of the type and quality of commodities being offered. In order to cater to the taste of consumers in the district, the brand new Aeon Tsuen Wan Store has introduced more Japanese elements as its highlight, while providing a more diverse range of merchandise and dining choices,” she said.

    The new store occupies an area of around 170,000 sqft (1594 sqm) and Aeon says it will provide “more quality commodities and a cozy shopping environment” post renovation.

    It has introduced a number of new elements, including Aeon Body (revealed on Inside Retail Hong Kong on Friday), a beauty and healthcare store, and ROU, a new popular lifestyle variety shop in Japan, both concepts introduced to Hong Kong for the first time.

    The Tsuen Wan Store has also introduced some Japanese fashion brands to satisfy customers’ pursuit of a quality lifestyle. These brands include urban fashion brand Persodea, Japanese countryside style brand Self+Service, Japanese trendy fashion brand Ozoc and the leisure brand for men Caribbean Joe.

    The Aeon Tsuen Wan Store has also expanded its supermarket by adding a cooking demonstration area, the Cooking Station and a fine wine collection zone Liquor Corner, which offers wines selected from around the world.

    Aeon has also revamped the Kids & Babies floor which targets children. New features include product demonstration, toy experience zones and customer service station.

    Situated at the Skyline Plaza, the Tsuen Wan Store enjoys a geographical advantage as it is surrounded by plenty of residential blocks, hotels and commercial buildings in the district, in addition to large residential projects planned for the future.

    “With the renovation, we are confident that the store can capture the immense opportunities lying in the district,” said Chan.

    To coincide with the opening, Aeon launched the Hearty Flower Donation campaign which raised $43,600 for the Green Builder – Environmental Walk 2016 event organised by the Conservancy Association as a joint effort to promote environmental protection and sustainable development.

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  • Grana Hong Kong, a store with no stock

    Grana Hong Kong, a store with no stock

    In this world of the digitally empowered consumer, is inventory a threatened species?

    Are classic retailer metrics such as stock hold, stock turn, stock intensity per square metre and working capital ratios yesterday’s news?

    After all what is a classic retailer’s largest cost of business? Well one could argue it’s inventory, certainly such that range, width of range, and its management is a strong determinant of both cash flow and profitability.

    Now a growing number of retailers are enhancing their offer by investing far less in inventory and far more in their digital interface, customer databases and social communities.

    Their advocates and fans are being increasingly conditioned and motivated to the customised offer that brings all channels to the fore. Not seeking to purchase on the spot, far more motivated by the various caches that a true digital-inspired omnichannel retail business offers. Aware that a physical store is crucial to the overall offer yet doing so in a way that maximises both the customer experience and resultant experience.

    Is this the store template of the future?

    Disrupting the standard retail format certainly seems to be on the agenda for many of today’s innovative fashion start-ups. Online retailer Kent & Lime have created a successful retail model out of providing online style advisors to hand select items in the right size and sent directly to your door. Your home becomes your personal fitting room where you have three days to try on your items, show your friends and then return those you don’t wish to keep, only paying for what you keep.

    Another success story in this area and a personal favourite of ours is Australian innovator Sneakerboy, as mentioned in previous posts. This week we visited another disrupter in this field, Grana.

    Aiming to combine the world’s best fabrics at disruptive prices, Grana is all about high quality garments at a lower price point. Founded in 2013, Australian-born Luke Grana, realised that achieving this goal meant re-thinking the traditional fashion business model, and focusing on ‘outstanding logistics’ rather than design, to give the fashion retailer an edge on the competition.

    Being based out of Hong Kong, the world’s largest logistics hub, allows the brand to ship internationally at almost the same cost of shipping locally in Australia with Australia Post. Working directly with fabric mills, all products are shipped direct to the warehouse and then straight onto the customer, cutting out the middle man, once again saving costs to provide ultimate savings to customers.

    Last year the core team members of the company, including founders Luke Grana and Pieter Paul Wittgen set up a shipping container pop up shop in and around Sydney, which reportedly was well received due to the quality of the products. They have now returned to Sydney’s Queen Victoria Building with a ‘zero-stock’ concept pop up store set to last until January 2016. When speaking of their first concept store in their channel in Hong Kong which followed a similar concept allowing customers to try on apparel and have their orders shipped to their door, founder Luke Grana said, “our customers can receive the tailored customer service and interaction that only a brick and mortar location can provide, but with the ease of online purchasing.”

    The Sydney store this weekend was buzzing, with consumers naturally adopting the new way of shopping. While some were a little confused at first, while we were in the store, once the concept was explained by an approachable and enthusiastic team member, all customers were taking items to the fitting rooms, and exploring the full range on the instore computers. The garments were attractively displayed within their styles, with place cards detailing where the fabrics had been sourced. From Peruvian Pima t-shirts priced at $22, to Chinese Silk Dresses from $99, it is refreshing to have such a transparent view of the supply chain communicated through the store experience.

    We are interested to see what the future holds for Grana, and whether we may begin to see more Australian retailers start to adopt this model of retailing in the future.

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  • LuLu Group to open first Indonesian outlet by end-2015

    LuLu Group to open first Indonesian outlet by end-2015

    The first LuLu Hypermarket in Indonesia will be opened in Jakarta by the year-end as the group has announced plans to invest $500mn in the country over the next five years. The announcement came during the visit of Indonesian President, Joko Widodo to Abu Dhabi. He visited LuLu Hypermarket along with a high-level delegation at Khalidiyah Mall in Abu Dhabi.

    “With an initial investment of $300mn in the first phase, we plan to open some 15 hypermarkets by the end of 2017 and a central logistics and warehousing facility in Jakarta. These projects are likely to generate more than 5,000 job opportunities for Indonesians and help train them at all levels” said MA Yusuffali, LuLu Group managing director. The fact that we are going to Indonesia with our Halal Hypermarket concept, is giving us the encouragement to look for a wider market segment there” Yusuffali said.

    Apart from Jakarta, LuLu intends to open hypermarkets in Bandung, Solo, Semarang, Surabaya and Yogyakarta.
    “We also plan to set up contract farming to ensure continuous supply of high-quality products and support the Indonesian agriculture sector,” Yusuffali added.

    The Indonesian president is on a five-day state visit to Saudi Arabia, the United Arab Emirates and Qatar, to boost the country’s ties with the three countries, particularly on investment, trade and Indonesian migrant worker protection.
    Coordinating Minister of Economy Darmin Nasution, Trade Minister Thomas Lembong, Minister of National Development Plans Sofyan Djalil, State Secretariat Minister Pratikno, head of the Investment Coordinating Board Franky Sibarani and Cabinet Secretary Pramono Anung were also part of Widodo’s delegation.

    The Indonesian president was given a rousing welcome at the LuLu Hypermarket by Yusuffali; Saifee Rupawala, CEO; Salim MA, director; Rajmohan Nair, director – LuLu (Far East Operations); and a large number of Indonesian expatriates.
    President Widodo and the accompanying delegation were taken to a guided tour of the hypermarket by Yusuffali who briefed him about specialties of the retail store.

    The president later said his visit to LuLu Hypermarket was to see Indonesian products mainly agricultural products and asked Yusuffali to import more products from villages and towns in Indonesia. A LuLu release said Widodo inquired about the prices as well of the various Indonesian products imported to Abu Dhabi.  The LuLu chain currently operates some 117 stores across the UAE, Oman, Bahrain, Kuwait, Qatar, Saudi Arabia, Yemen, Egypt, and India.