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  • Consumption in Thailand fall “surprising”

    Consumption in Thailand fall “surprising”

    With tumbling oil prices expected to bolster private consumption, last month’s contraction in consumption came as a surprise, says a senior Bank of Thailand official.

    The high level of household debt and falling farm prices were to blame, said Roong Mallikamas, senior director for macroeconomic and monetary policy. She said the fall in private consumption was unexpected and signified the slow pace of consumption recovery.

    The private consumption index declined by 1.5 percent year-on-year last month, worse than December’s contraction of 0.8 percent.

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  • Forever 21 partners with NBA on new exclusive collection

    Forever 21 partners with NBA on new exclusive collection

    Forever 21 has partnered with the National Basketball Association (NBA) for a second time on a new exclusive collection of women’s apparel featuring essential pieces such as fitted tank dresses, shorts, and relaxed tank tops.

    The dresses with the logos of NBA teams including the Boston Celtics, Brooklyn Nets, Chicago Bulls, Los Angeles Clippers, Los Angeles Lakers, Miami Heat and New York Knicks.

    The Forever X NBA Collection is available now in select US stores and on Forever21.com.

    Founded in 1984 in Los Angeles, Forever 21 today has over 600 stores worldwide, including the United States, Canada, China, Europe, Hong Kong, India, Israel, Japan, Korea, Latin America, Mexico, Philippines and United Kingdom.

  • Samsung Pay to power in-store purchases on Galaxy S6

    Samsung Pay to power in-store purchases on Galaxy S6

    Samsung Electronics Co. Ltd. has unveiled Samsung Pay, a mobile payment service that will enable MasterCard cardholders to use their Samsung Galaxy S6 for everyday in-store purchases.

    Owners of the new device will be able to use their MasterCard credit and debit cards from participating banks directly through Samsung Pay.

    It will work at both contactless-enabled and most traditional point of sale terminals. This means that every purchase made with a MasterCard using a Samsung Galaxy S6 will offer the enhanced security, benefits and guarantees of a digital MasterCard transaction, including the latest tokenization technology.

    “This is an exciting time for payments,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “As consumers are increasingly relying on their mobile devices in their everyday lives, we are excited to work with an industry leader like Samsung to deliver new payment options to our cardholders around the world.

    Injong Rhee, Executive Vice President at Samsung Electronics, added that Samsung’s KNOX security platform and fingerprint authentication make Samsung Pay transactions highly secure and easy to use.

    Samsung Pay will first be made available for US consumers this summer. MasterCard will be working with Samsung to roll out Samsung Pay to additional global markets, including Korea.

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  • New scanners for retailers minimise checkout time

    New scanners for retailers minimise checkout time

    Honeywell launched on Tuesday a suite of new scanners designed to allow retailers connect with customers and minimise checkout time.

    The new Voyager scanners can also speed up loyalty program enrollment and age verification.

    Lynn Huang Freeman, head of marketing and strategy, Honeywell Scanning & Mobility Asia-Pacific, said as mobile commerce continues to shape the retail industry and consumer shopping experience from on-line to off-line drives retailers’ transformation, they need the right tools to enable innovative marketing programs.

    The new Voyager 1202G provides the same aggressive linear barcode scanning performance as a wired scanner but without the long recharge time, maintenance, or environmental disposal issues associated with traditional batteries.

    Meanwhile, the Voyager 1602g pocket 2D Bluetooth scanner packs high performance area-imaging technology into a compact form factor, making it the perfect scanning companion to tablet- based retail POS systems.

    For retailers that anticipate the need for area imaging in the future, such as scanning coupons off customers’ smartphone screens, the Voyager 1450g tethered scanner and Voyager 1452g wireless scanner deliver linear barcode scanning out of the box.

    Both scanners are available for upgrade at a competitive price to enable PDF and 2D barcode reading at the initial time of purchase or at any point in the future.

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  • Woolworths sells The Warehouse stake, abandons NZ expansion plans

    Woolworths sells The Warehouse stake, abandons NZ expansion plans

    Woolworths has abandoned plans to enter the discount department store sector in New Zealand and has sold its 8.8 percent stake in New Zealand retailer The Warehouse Group for NZD86.9 million (USD65.5m), less than half the price it paid eight years ago.

    Woolworths said on Tuesday it had sold 30.5 million shares in The Warehouse Group for NZD2.85 a share – a slight premium to the market price of NZD2.72 – to one of New Zealand’s largest retailers, the privately held James Pascoe Group.

    Woolworths said The Warehouse investment was no longer required as part of its New Zealand strategy and confirmed that it had given up on its original plan to use the stake as a platform to enter the discount department store sector and replicate its BIG W business.

     

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  • Aldi comes to the party as grocery code tabled

    Aldi comes to the party as grocery code tabled

    Australian Small Business Minister Bruce Billson has won support for the grocery industry code of conduct from discounter Aldi but is disappointed that wholesaler Metcash has agreed to adopt elements of the code rather than sign up in full.

    The code, which was tabled in Parliament on Monday and takes effect on Tuesday, prohibits certain types of unfair conduct by retailers and wholesalers in their dealings with suppliers and provides a clearer framework for retailer and supplier negotiations.

    Aldi, which was originally reluctant to sign the code until it was confident it would not increase costs and push up prices for consumers, said on Monday it would sign up to the code as a party.

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  • Under Armour turns ambitions to electronic apparel, monitoring apps

    Under Armour turns ambitions to electronic apparel, monitoring apps

    Under Armour Inc. has some out-there ideas for your clothes. The athletic gear company has been spending big to buy developers of apps to monitor personal fitness, aiming in the short term to sell more shirts and shoes.

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  • Foreign brands drive Manila malls boom

    Foreign brands drive Manila malls boom

    Manila’s thriving retail sector will lead boost returns for shopping centre developers, says new research from real estate specialist CBRE.

    “With several new malls operational this quarter, supply of retail space has boosted,” concludes CBRE’s The Philippine Real Estate Industry Update and 2015 Outlook.

    “Retail sales remained solid, demonstrating upticks in consumer spending as evidenced by the low inflation rate and an encouraging outlook for real estate and tourism sectors.”

    Nationwide, the Philippines’ retail industry growth is being fuelled by both local and international brands expanding their footprints.

    “The quarter saw the entry and expansion of new and existing global brands in different retail core sites. These international brands have recognised the potential of the Philippine retail market, signified by the country’s strong economic growth.”

    Sweden’s H&M is a prime example: after a successful debut in Manila, the company has aggressively expanded its operations throughout Metro Manila with local major shopping mall operators. The first H&M outlet in Megamall occupies 3000 sqm over three floors and is now considered one of the largest retail stores in the Philippines.

    Estancia Mall in Capitol Commons, which houses several retail outlets and restaurants, opened in the fourth quarter in time for the holiday rush. The building, which has a gross floor area of over 30,000 sqm meters, also incorporates office space.

    Other Manila malls opening during the quarter were Robinson’s Place Las Piñas and City of Dreams Manila.

    “With the holiday season at hand, the retail sector remained active with more international retailers showing interest in entering the domestic market. Consumer sentiment was sustained as major drivers such as the BPO sector and overseas remittances show no signs of slowing down,” said CBRE.

    Diversifying into the retail segment, major developers are taking advantage of the ‘Retail- tainment’ concept wherein office and residential projects are including retail use.

    “The purpose of this is to provide the overall retail experience to Filipino shoppers, giving them the power of choice at their own convenience. This factor is also seen to attract foreign retail players to dive into the Philippine market scene.”

    These factors, says CBRE, will drive “upbeat” demand for, and supply of, retail space in Manila malls in the near future.

    “Overall, the Metro Manila retail market is seen to remain strong and stable for the remainder of the year empowered by the expanding Business Process Outsourcing industry, Overseas Foreign Worker remittances, growing tourism and a growing middle-income market.”

  • Airweave heads to bed in the US

    Airweave heads to bed in the US

    Airweave, Japan’s top selling brand of premium bedding toppers and pillows, has opened its first store in the US.

    The flagship officially opens its doors today, February 27, at 498 Broome St in the trendy SoHo district of Manhattan, New York City. Airweave says the store will introduce US consumers to the brand’s “luxury, innovative, high performance bedding toppers” designed from ongoing research into sleeping comfort.

    Created with Japanese technology, airweave products are made of three-dimensional, entwined resin fibers, allowing air to occupy more than 90 per cent of the material. Airweave says its products offer comfortable support and improves sleep quality through ergonomic, breathable design and highly resilient materials which allow users to roll over easily and maintain a deep and restorative sleep.

    The new, two-story airweave SoHo store features about 2400 sqft of space and will offer guests an intimate introduction to Airweave’s collection of bedding toppers.

    The store employs three “sleep counselors” who will serve as brand ambassadors, along with sales associates trained to educate customers on the products’ features.

    “The store’s simple, clean and contemporary design will work in tandem with the brand’s mission to redefine and refine quality of sleep, so the customer sleeps deeper and awakens invigorated,” the company said in a statement.

    The store will also feature a private room for select customers to undergo sleep assessments and offer a personal shopping experience with airweave.

    President and CEO of Airweave, Motokuni Takaoka, said the company wants to personally connect with Airweave customers and introduce them to the brand’s innovative construction.

    The company also sells its products online in the US, with prices ranging from $190 to $1570. Airweave was founded in 2004 by Takaoka. Its products have been endorsed by a raft of sports and entertainment personalities, are used on Japan Airlines international flights in First and Business classes and found in hotels including the Four Seasons Hotel, Tokyo, the Ritz Carlton Shanghai Pudong and the Park Hyatt Shanghai.

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  • Japan retail sales slide

    Japan retail sales slide

    Japan retail sales slid two per cent in January according to government data.

    Japan’s Ministry of Economy, Trade and Industry surveys department stores, chain stores, supermarkets and other large-scale stores and convenience stores to compile a monthly trend index.

    Last month’s year-on-year decline was the first in seven months, with commentators citing bad weather and continuing decline in take-home incomes for the downturn.

    However the trend may have been exaggerated due to consumers spending more than usual in the first three months of 2014 to beat an increase in sales tax which took effect in April

    December’s retail sales were up 0.2 per cent year-on-year.

    Charts with full data are available at the Ministry’s website.

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  • Mall Group attracts major names

    Mall Group attracts major names

    Tiffany & Co heads a list of major international brands confirmed as tenants of The Mall Group’s massive new development in the heart of Bangkok.

    The Mall Group is creating The EM District on Sukhumvit Rd, comprising three projects –  The Emporium, The EmQuartier and The EmSphere. The Emporium is under refurbishment and the other two properties are new.

    When complete, the three properties will comprise a total retail space of 650,000 sqm and represent an investment of US$618 million.

    The EM District will be home to more than 1000 Thai and international brands, luxury fashion labels, technology, lifestyle, living and dining facilities.

    The Mall Group this week revealed that jeweller Tiffany & Co will be making its Thai debut in the complex, along with fellow New York-based retailer Van Cleef & Arpels, French brands Haute Joailler, Roger Vivier, a high-end Parisian footwear label, and footwear brand Charlotte Olympia footwear.

    Saint Laurent will open a concept store offering lifestyle items, Tory Burch will open its first full concept boutique, Germany’s MCM promises a flagship of its bags and Sephora will open its largest Thai flagship.

    Other international brands confirmed for the project are Banana Republic, A Bathing Ape, Zara, Massimo Dutti, H&M, Uniqlo, Gap, MNG, Super Dry, Beams, Stylenanda and Uncensored. They’ll join local brands including Fly Now, Greyhound, Soda, Something Boudoir, Senada, Asava, Kloset, Sretsis, Issue, It’s Happened, Disaya, Sanshai, Tube Gallery and Vickteerut.

    Luxury brands already confirmed include Louis Vuitton, Chanel, Dior, Prada, Cartier, Dolce & Gabbana, Celine, Fendi, Gucci, Tod’s, Valentino, Chloe, Loewe, Miu Miu, Salvatore Ferragamo, Balenciaga, Ermenegildo Zegna, Jimmy Choo, Burberry, Emporio Armani, Hugo Boss, Dunhill, Issey Miyake and Club 21.

    The Emporium and The EmQuartier Gourmet Market, under a new concept of high-end and modern gourmet market, will provide food and delicatessens from around the world. The EM District will also incorporate a world-class entertainment complex including Quartier Cineart by cinema operator Major Cineplex Group, with seven and an Imax.

    Rival cinema group SF Cinema City will open Emprive Cineclub billed as “a completely renovated six-star theatre”.

    The EM District will be home to more than 10 venues and halls, including The Quartier Hall, Parc Quartier, Quartier Avenue and Emporium Gallery, ranging from 200 to 2000 sqm, available to host exhibitions, fashion events, music and art festivals and product launches.

    Food is another key element. The EM District will feature a broad range of international and local food brands, including Dean & Deluca, Harrods, Cova and TWG. Jones the Grocer, a gourmet food store originating in Australia, will make its debut. along with Pierre Herme French macaroon boutique that directly imports every macaroon from France.

  • Luxury Italian fashion lands in Indonesia

    Luxury Italian fashion lands in Indonesia

    A new chain of stores selling “super premium” luxury Italian fashion has debuted in Indonesia.

    Founded by local entrepreneur Ricky Ahluwalia, True Italy has opened its first store in Jakarta’s Plaza Menteng.

    Ahluwalia says True Italy aims to sell premium Italian fashion brands at low prices – “It’s like buying gold at the price of silver”.

    But there is a catch: Ahluwalia’s business model is to buy previous season’s collections at closeout prices.

    “True Italy not only performing business, but also serving the market, fulfilling dreams of individuals, who now have access to super luxury Italian fashion items at prices comparable to normal department store brands.”

    Ahluwalia has more than 15 years experience in the fashion retail industry, after graduating from USCLA. His most recent role before founding True Italy was CEO of Royal Indo Traders.

    True Italy will initially focus on the Jakarta market where more stores as planned.

    Ahluwalia says his aim is to become “the leading multi branded Italian retail chain in Indonesia”.

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  • Ikea drives Hero Indonesia outlook

    Ikea drives Hero Indonesia outlook

    Hero Indonesia, the supermarket and healthcare retailer, is looking to Ikea to boost its fortunes after a disappointing 2014.

    The retailer, 81.9 per cent owned by Hong Hong based Dairy Farm International, has reported a 14 per cent increase in net revenue and nine per cent increase in gross profit. But weak like-for-like sales in the core supermarkets division delivered an “underlying operating loss” of 12 billion IDR (US$925,181) and an “underlying profit” of IDR20 billion ($1.542 million).

    “Challenging conditions are expected to continue in the food business in 2015, although action is being taken to address weaknesses and improve profitability,” President director Stephane Deutsch said in a statement.

    “Nevertheless, the successful opening of the first Ikea store (in October at Alam Sutera) and the continuing profitable development of Guardian provides reason to remain cautiously optimistic about the trading outlook for the year ahead.”

    He said, despite the challenges in the food sector, Hero Indonesia’s health and beauty business experienced good growth with 22 additional stores opening, and early trading results from Ikea were “very encouraging”.

    Group overheads were higher, with electricity increases and a rise in the minimum wage negatively impacting on the business, together with a large store network.

    Deutsch said like-for-like sales in the food business were weak, particularly in the Giant Ekspres operations, and new stores did not perform as well as expected.

    “In the food operations, there is an increased focus on fresh produce and market share continues to improve. Action is also being taken to improve the supply chain with additional distribution centres enabling increased centralisation, rather than having suppliers delivering direct to the stores,” he said.

    The Giant Ekstra hypermarket operation delivered above market like-for-like sales growth which enabled it to absorb the increase in operating costs and maintain its profitability. Giant Ekspres, the supermarket banner, faced a challenging year. Disappointing like-for-like sales, higher utilities costs and minimum wages led to a material deterioration of the profitability of its operations. The upscale format, Hero Supermarket, continues to focus on improving its offer across the fresh, imported and exclusive ranges to provide a more distinctive choice and grow customer appeal.

    “Starmart’s increased focus on Ready-to-Eat has had a positive impact on sales in the stores where this offering has been introduced. A store portfolio optimisation program was launched to address loss making stores, with the closure of 30 stores to improve the overall profitability of the banner. A detailed review of this business is currently being undertaken.”

    Hero’s Guardian store expansion program is progressing well alongside the rollout of a fresh brand look, said Stephane.

    “A dedicated distribution centre was opened to support its supply chain. In addition, a strategic partnership is under trial with a local pharmacy operator, Melawai Pharmacy, in Jakarta to combine their local pharmacy strengths with the broader health and beauty offering of Guardian.”

    Meanwhile, the new Ikea store attracted more than 75,000 customers per month since opening. “The contribution from IKEA to PT Hero’s full-year result was affected by the limited trading period and pre-opening expenses, but this business is expected to contribute positively in 2015.”

    The company is continuing to invest in the supply chain infrastructure, including distribution centres and IT systems, to provide the support necessary to deliver a superior customer offer and to provide a compelling shopping experience for customers.

    Hero opened 22 net new stores in 2014, including four Giant Ekstras, seven Hero Supermarkets and Giant Ekspres, 33 Guardians and the Ikea. This was offset by a net reduction of 23 Starmart outlets. As at December 31, the company operated 704 stores: 55 Giant Ekstras, 165 Hero Supermarkets and Giant Ekspreses, 349 Guardians, one Ikea and 134 Starmart convenience stores.

  • New Myer team to embark on transformation

    New Myer team to embark on transformation

    Myer shareholders are bracing for a sharp fall in earnings and big asset write-downs and provisions over the next few years as the new management team embarks on a multi-year transformation plan to reshape the 115-year-old department store chain.

    Analysts and investors believe the new team, led by former Woolworths and Australia Post executive Richard Umbers, needs to spend at least AUD150 million (USD117m) over the next three years, on top of underlying spending of AUD30 million a year, to reverse the effects of years of underinvestment in e-commerce, IT, service and stores.

    Myer’s earnings could fall by as much as 12 percent in 2016 because the investment will precede any significant rebound in sales, squeezing margins.

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  • Chow Tai Fook takes homeland hit

    Chow Tai Fook takes homeland hit

    Hong Kong based jeweller Chow Tai Fook says sales in its core Hong Kong market plunged 29 per cent over Lunar New Year.

    However an 11 per cent rise in mainland sales saw its total sales rise nine per cent during Lunar NY 2015 compared with the same season in 2014.

    In the mainland, same store sales of gem-set jewellery rose 62 per cent and of gold by two per cent. But in Hong Kong and Macau, gem-set sales fell 17 per cent and gold sales by 38 per cent – a rate even worse than the disappointing last quarter of 2014.

    In a statement, the company blamed weak consumer sentiment for a decline in sales of high-end products.

    Also a likely factor was the changing demographic of Chinese tourists into Hong Kong: in the past such visitors were usually cashed up and high spenders, but those tourists are now venturing further abroad into other Asian destinations and to Europe. Some have been spooked by the Occupy Central protests. The new mainland tourists into Hong Kong are of more modest means and often travelling for the first time.

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