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  • Chinese Sweet Potatoes with Durian Flavor Fascinate Vietnamese Shoppers, Despite Higher Price Tag

    Chinese Sweet Potatoes with Durian Flavor Fascinate Vietnamese Shoppers, Despite Higher Price Tag

    In a curious culinary twist taking Vietnam by storm, “durian sweet potatoes” have captured the attention of food lovers across social media platforms since July. Vendors tout these unique spuds for their creamy texture and sweet flavor reminiscent of the notoriously pungent durian.

    Hong Anh, a food store owner in Ho Chi Minh City’s District 12, recalls her initial skepticism when suppliers first introduced her to the product, especially given its steep price point. However, after sampling the sweet potatoes herself, she discovered their chewy, delectable nature that “melts” in the mouth, prompting her to add them to her offerings.

    “In just half a month, I sold about 300 kilograms,” she noted, highlighting the appeal of the potatoes’ eye-catching appearance and uniform size. Customers are also drawn to them due to their intriguing name, creating a buzz in the market.

    Currently, Anh retails these sweet potatoes at VND96,000 (US$3.64) per kilogram—double the price of top domestic varieties and three times that of standard sweet potatoes. While these tubers are a staple in Vietnam, cultivated extensively in regions like the Central Highlands and Mekong Delta, they broke the bank when it comes to consumers checking their wallets.

    Last year, sweet potato exports brought in nearly VND900 billion, with farm-gate prices hovering between VND14,000 and VND16,000 per kilogram and retail prices ranging from VND25,000 to VND50,000. The growing demand for the Chinese variety has seen distributors like To Khuyen from Lao Cai Province, near the China border, importing thousands of boxes within just a month. Initially priced over VND100,000 per kilogram due to low supply, she has now lowered prices by 15%. “Since early July, these sweet potatoes have been flying off the shelves. Wholesalers snap them up as soon as the trucks arrive,” she shared.

    Beyond their enticing flavor, the potatoes boast thick, easy-to-peel skin and come packaged in chic cardboard boxes—making them a hit for consumers looking for both taste and aesthetics. Despite this, they remain somewhat of a niche offering. Representatives from the Thu Duc and Hoc Mon wholesale markets in Ho Chi Minh City remarked they haven’t introduced these varieties yet, focusing solely on local options.

    As excitement builds around these sweet potatoes, some market sellers urge caution regarding new products with unclear origins. According to the Guangdong Provincial Information Portal in China, these sweet potatoes belong to a variety called Xinxiang, or mini sweet potatoes, which have been cultivated since 2007 in southern provinces like Zhejiang and Guangdong, with farmers receiving between CNY13-16 ($1.82-2.24) per kilogram.

    Questions & Answers

    How are “durian sweet potatoes” different from regular sweet potatoes?
    These sweet potatoes are known for their chewy texture and sweet flavor, resembling that of durian, which sets them apart from traditional varieties.

    Why are these sweet potatoes priced significantly higher than local varieties?
    Their pricing reflects a combination of factors, including their imported nature, unique culinary qualities, and increasing demand among consumers curious about novel products.

    What challenges do consumers face with these new sweet potatoes?
    Some market sellers express concerns about the origins of these imported sweet potatoes, prompting consumers to be cautious when trying new and unfamiliar products.

  • DHL Express Appoints Karen Tan as New Asia Pacific CIO, Driving Innovation in Logistics

    DHL Express Appoints Karen Tan as New Asia Pacific CIO, Driving Innovation in Logistics

    DHL Express has announced the appointment of Karen Tan as chief information officer (CIO) for Asia Pacific (excluding China), a move that takes effect on September 1, 2025. Positioned in Singapore, Tan steps into her new role following the retirement of Jimmy Yeoh at the end of this year.

    Leading Through Digital Transformation

    In her capacity as CIO, Tan will oversee the comprehensive IT infrastructure, drive digital acceleration, and formulate cybersecurity strategies across more than 40 countries and territories in the region. Her responsibilities also extend to enhancing cross-functional collaboration, ensuring a smooth flow of cross-border trade, and elevating customer service standards.

    Cybersecurity and Customer Experience: A Central Focus

    Addressing the growing complexities of digital ecosystems, Tan emphasized the increasing importance of cybersecurity and data protection. “It is essential to uphold the standards and quality of employee and customer experience,” she stated, capturing the balancing act between innovation and security in today’s landscape.

    A Seasoned Leader with a Vision

    Tan’s affiliation with DHL Express dates back to 1990, where her impressive journey has culminated in her recent role as the CIO for DHL Express Singapore. There, she established a national digitalization framework and bolstered data protection and information security practices. Her influence extends further as the Data Protection Officer (DPO) Champion, as well as a leader in Diversity, Equity, Inclusion & Belonging (DEIB) initiatives, including celebrations for International Women’s Day and Generations Day. Talk about multitasking!

    Strategic Alignment with DHL’s Future Goals

    Ken Lee, CEO of DHL Express for Asia Pacific, lauded Tan’s extensive experience and successful track record in digital acceleration and data protection, asserting that she is the ideal leader to elevate the region’s IT function. Her appointment aligns seamlessly with DHL Express’ Strategy 2030, which emphasizes digital innovation and resilience in an ever-evolving global trade environment.

    Questions & Answers

    What key responsibilities will Karen Tan have as CIO of DHL Express for Asia Pacific?
    Tan will lead IT infrastructure, digital acceleration, and cybersecurity strategies across an expansive network in over 40 countries, while also enhancing customer service and cross-border trade operations.

    How long has Karen Tan been with DHL Express?
    Karen Tan has been part of DHL Express since 1990, bringing over three decades of experience to her new role.

    What initiatives has Tan led in her previous positions?
    She has developed a nationwide digitalization framework in Singapore, championed data protection efforts, and led Diversity, Equity, Inclusion & Belonging initiatives within the company.

  • TELUS and FreeTelecom Launch Innovative Dual Plan for Seamless Korea-Canada Connectivity on a Single Device

    TELUS and FreeTelecom Launch Innovative Dual Plan for Seamless Korea-Canada Connectivity on a Single Device

    TELUS has forged a notable partnership with FreeTelecom, South Korea’s top budget telecommunications provider, to introduce the FreeTelecom Dual Plan, a groundbreaking mobile solution that could change the game for travelers and expatriates. This innovative offering allows users to access both Korean and Canadian mobile services on a single device, delivering substantial savings over traditional international roaming options.

    Addressing Unique Connectivity Needs

    Leveraging TELUS’s renowned network, the FreeTelecom Dual Plan is tailored to the diverse connectivity needs of Korean residents, working-holiday travelers, students, and business professionals who frequently navigate between these two countries. It’s a lifeline for those who want the comfort of staying connected without spiraling costs.

    A Proven Partner Makes Its Mark

    FreeTelecom brings significant experience to this collaboration, having garnered praise in South Korea, including being named Customer Satisfaction Brand of the Year for two consecutive years and receiving the prestigious ICT Award Korea Gold Prize. As the first Korean telecommunications company to venture into the global market, FreeTelecom is ambitiously expanding its footprint.

    A Commitment to Community and Connectivity

    “Our partnership with FreeTelecom represents TELUS’s commitment to serving Canada’s diverse communities with innovative solutions,” stated Kal Amery, Vice President of Global Carrier Solutions at TELUS. “The FreeTelecom Dual Plan delivers exceptional value for customers who maintain connections across Korea and Canada, leveraging our reliable network to provide seamless international connectivity.” In a world where digital communication is king, this partnership seems poised to create a royal flush of connectivity options.

    Transcending Borders with Essential Features

    A standout aspect of the FreeTelecom Dual Plan is the inclusion of the KR Basic Plan, which facilitates authentication for Korean banking services and government websites. This feature is indispensable for Korean expatriates who require reliable access to their financial and administrative needs while abroad.

    A Vision for the Future

    “Through our collaboration with TELUS, we’re delivering locally tailored solutions that meet the evolving needs of Korean-Canadians,” remarked Lee Suk-Hwan, CEO of FreeTelecom. “This partnership marks the beginning of our journey to become a globally recognized mobile brand focused on customer-centric service.” With such aspirations, FreeTelecom is preparing to reshape its identity on the world stage.

    Questions & Answers

    What is the FreeTelecom Dual Plan?
    The FreeTelecom Dual Plan is an innovative mobile solution allowing users to access both Korean and Canadian mobile services on the same device, offering cost-effective options for international roaming.

    How does the KR Basic Plan enhance user experience?
    The KR Basic Plan included in the FreeTelecom Dual Plan enables authentication for Korean banking services and government websites, making it an essential feature for expatriates managing cross-border financial transactions.

    What are FreeTelecom’s aspirations in the global market?
    FreeTelecom aims to become a globally recognized mobile brand focused on customer-centric service, starting with its innovative partnership with TELUS and tailored solutions for Korean-Canadians.

  • Amazon Launches New AWS Cloud Region in Asia Pacific, Boosting New Zealand’s Tech Landscape

    Amazon Launches New AWS Cloud Region in Asia Pacific, Boosting New Zealand’s Tech Landscape

    Amazon’s announcement of the AWS Asia Pacific (New Zealand) Region marks a significant expansion of its global cloud framework, bringing new opportunities to developers, startups, enterprises, and nonprofits across various sectors including retail, education, and government. With the launch of this new location, users can now enjoy greater flexibility to run applications and engage their audiences through data centers firmly rooted in New Zealand.

    A Long-Term Investment in New Zealand’s Digital Future

    In a move that signals its long-standing commitment to New Zealand, Amazon plans to invest over NZD 7.5 billion into the construction, connection, operation, and upkeep of its data centers. Initial plans for the AWS Asia Pacific (New Zealand) Region include three Availability Zones, adding to a robust global tally of 120 Availability Zones across 38 regions, revealing a cloud network so extensive that even a flock of sheep might get lost in it — and that’s quite a feat in New Zealand!

    Enhancing AWS’s Role in Cloud Computing

    In addition to the new Kiwi expansion, AWS has ambitious plans to introduce ten more Availability Zones and establish three additional regions in Chile, Saudi Arabia, and its forthcoming European Sovereign Cloud. Designed with sovereignty at its core, the New Zealand region will provide secure and compliant cloud infrastructure, allowing customers to access a comprehensive suite of AWS services, including analytics, computing, content delivery, databases, generative AI (GenAI), machine learning (ML), networking, and storage.

    Empowering the Next Generation of Cloud Professionals

    To address the growing demand for cloud technology throughout the Asia Pacific, Amazon is also focusing on digital skills development, launching initiatives such as AWS Academy, AWS Educate, and AWS Skill Builder. Under a memorandum of understanding with the New Zealand government, AWS has pledged to train 100,000 individuals in cloud competencies, with over 50,000 already equipped with these essential skills. Moreover, AWS intends to hire and develop additional local talent to support this new region, further underscoring its dedication to New Zealand’s digital evolution and economic progress.

    Questions & Answers

    What are the key features of the AWS Asia Pacific (New Zealand) Region?
    The new AWS region will initially host three Availability Zones and will provide a wide range of services including analytics, computing, generative AI, and machine learning, tailored to secure and compliant cloud infrastructure.

    How much is Amazon investing in New Zealand’s cloud infrastructure?
    Amazon plans to invest over NZD 7.5 billion, focusing on the construction and operation of its data centers, reflecting a long-term commitment to the region.

    What initiatives is Amazon implementing to develop local cloud skills?
    Amazon has committed to training 100,000 individuals in cloud technology through programs like AWS Academy, with over 50,000 already trained, demonstrating a serious dedication to enhancing local expertise in the tech sector.

  • Sygnum Targets Institutional Investors with Germany Expansion

    Sygnum Targets Institutional Investors with Germany Expansion

    Swiss crypto bank Sygnum is accelerating its growth by offering asset management solutions in Germany and Liechtenstein, tapping into two key European markets to attract institutional investors with a promise of impressive double-digit returns.

    On Tuesday, Sygnum, which has established a stronghold in Switzerland and Singapore, announced its plan to extend its investment offerings to these nations as it eyes a broader European strategy. This move allows institutional and wholesale investors in Germany and Liechtenstein to access a carefully curated segment of Sygnum’s crypto investment solutions.

    Laying the Groundwork in Liechtenstein

    The firm’s recent registration in Liechtenstein, achieved in September 2024, has paved the way for its entry into the German market. This expansion underlines Sygnum’s ambition to provide professional investors across Europe with trustworthy access to digital assets. Central to their appeal is a non-directional, low-volatility investment strategy that seeks to capture yield opportunities in the dynamic crypto market while skillfully managing associated technological and platform risks. Remarkably, this strategy has consistently produced annualized double-digit returns since its launch.

    Responding to Surging Institutional Demand

    Fabian Dori, Chief Investment Officer at Sygnum, emphasized the significance of this move, stating, “Our expansion into Germany and Liechtenstein reflects strong demand from institutional investors seeking trusted access to sophisticated crypto investment strategies.” He added that these markets represent substantial growth potential as investors increasingly regard digital assets as essential components for diversification in their portfolios. Indeed, as interest in crypto investment flourishes, you might just find that even the most traditional investors are warming up to this unconventional asset class!

    Building Strong Local Partnerships

    To facilitate distribution, Sygnum is implementing a liability umbrella solution in collaboration with Reuss Private Access. This partnership will ensure that Sygnum Europe manages distribution across the EU, enabling investors in both Germany and Liechtenstein to access its innovative solutions through authorized distribution partners. Plans for further expansion into additional European markets are already in development.

    A Global Player in the Financial Landscape

    With a Swiss banking license and significant regulatory presence in Singapore, Abu Dhabi, Luxembourg, and Liechtenstein, Sygnum is strategically positioned as a bridge between traditional finance and the emerging digital asset economy. This unique regulatory footprint supports Sygnum’s model of what they refer to as “Future Finance.”

    Questions & Answers

    What prompted Sygnum to expand into Germany and Liechtenstein?
    The expansion is driven by strong demand from institutional investors seeking reliable access to sophisticated crypto investment strategies, alongside the goal of enhancing Sygnum’s European growth strategy.

    What kind of investment strategy does Sygnum offer?
    Sygnum provides a non-directional, low-volatility investment strategy aimed at capturing yield opportunities within the crypto market while managing risks associated with technology and platforms, boasting annualized double-digit returns since inception.

    How is Sygnum facilitating distribution in these new markets?
    Sygnum is using a liability umbrella solution in partnership with Reuss Private Access to oversee distribution within the EU, allowing investors in Germany and Liechtenstein to access its asset management services via authorized partners.

  • Louis Vuitton Launches Standalone Beauty Boutique In China Amid Revenue Slump

    Louis Vuitton Launches Standalone Beauty Boutique In China Amid Revenue Slump

    The French luxury behemoth, Louis Vuitton, has recently inaugurated its inaugural standalone beauty retail outlet in China. This strategic development marks a significant effort by the brand to fortify its presence in the high-end market segment and re-establish its bond with Chinese consumers.

    The Beauty Boutique

    The beauty boutique, nestled in the esteemed Deji Plaza of Nanjing, serves as the platform to exhibit the company’s novel beauty product line, La Beaute. This line is the creative offspring of the distinguished makeup artist, Dame Pat McGrath. The La Beaute collection comprises a meticulously curated assortment of products such as lipsticks, lip balms, eyeshadow palettes, and an array of beauty accessories.

    Product Highlights

    Notable products from the collection include the LV Rouge lipsticks, which are available in a staggering 55 shades, with both satin and matte finishes. These lipsticks are marketed at roughly $160 each. Furthermore, the product line is also home to 10 LV Baume lip balms and 8 LV Ombres eyeshadow palettes.

    Brand Strategy

    The unveiling of this boutique aligns with Louis Vuitton’s large-scale plan to rejuvenate its relations with China’s luxury consumer base. This comes in the wake of a reported 4 per cent slump in its global revenue during the first half of FY25. The brand’s initiative is a response to the weakening demand noticed in China, a situation partly attributed to the prevailing trade friction between Beijing and Washington.

    Questions & Answers

    What is the strategic significance of Louis Vuitton’s first standalone beauty boutique in China?
    The launch of this boutique is a key move by Louis Vuitton to strengthen its foothold in the premium market and foster stronger relations with Chinese consumers.

    What are some notable products from the new La Beaute collection?
    Prominent products from the collection include the LV Rouge lipsticks, available in 55 shades, LV Baume lip balms, and LV Ombres eyeshadow palettes.

    Why is Louis Vuitton focusing on re-engagement with China’s luxury consumers?
    The brand’s focus on re-engagement with China’s luxury consumers comes in response to a 4 per cent decrease in its global revenue during the first half of FY25 and weakening consumer demand within China.

  • Hong Kong’s Retail Sales Rise For Third Consecutive Month Amid Increased Tourism

    Hong Kong’s Retail Sales Rise For Third Consecutive Month Amid Increased Tourism

    July’s retail sales in Hong Kong experienced an upward trend, marking the third consecutive month of positive growth. Sales figures showed a 1.8% year-on-year increase, achieving a total value of HK$29.7 billion ($3.8 billion). This increase followed a more modest growth of 0.7% in June.

    Sales Volume Increases

    In addition to this financial upturn, retail sales volume also saw a rise of 1% in July compared to the previous year. This is a significant improvement from the 0.3% decrease experienced in June. However, a broader look at the year reveals that retail sales decreased in value by 2.6% and in volume by 4% over the first seven months of 2025 compared to the same period in 2024.

    A government representative expressed optimism about these figures, suggesting that consumer sentiment is expected to remain consistent. Furthermore, this spokesperson highlighted the positive impact of government initiatives that encourage tourism and large-scale events, all of which are predicted to provide benefits to retail businesses.

    Tourist Arrivals Boost Retail

    Data from the Hong Kong Tourism Board showed an increase in visitor arrivals during July. A total of 4.39 million visitors marked a 12% increase from the same month the previous year. This is a noticeable acceleration compared to the 3.48 million in June, 4.08 million in May, and 3.85 million in April.

    Of these visitors, 3.51 million originated from mainland China, an 11.8% increase in comparison to the previous year. Despite the increasing number of visitors, spending habits indicate a more conservative approach with many choosing to limit their overall expenditure.

    Specific Sector Performance

    Particular sectors within the retail industry showcased robust growth. Jewellery, watches, clocks, and valuable gifts saw sales surge by 9.4% year-on-year in July, up from a rise of 6.9% in June. The clothing, footwear, and allied products segment, however, saw a marginal growth of 0.1%, a slight recovery from a 4.6% drop in June.

    Questions & Answers

    How much did Hong Kong’s retail sales increase in July?
    Sales rose by 1.8% year-on-year, achieving a total value of HK$29.7 billion ($3.8 billion).

    What was the growth in the number of visitors from mainland China?
    The number of visitors from mainland China increased by 11.8% compared to the previous year, reaching a total of 3.51 million in July.

    Which retail sector saw the most significant growth?
    The sector of jewellery, watches, clocks, and valuable gifts saw the most substantial growth with a 9.4% year-on-year rise in sales in July.

  • Berjaya Food Reports Rising Losses: Starbucks Malaysia’s Struggles Amid Middle East Conflict

    Berjaya Food Reports Rising Losses: Starbucks Malaysia’s Struggles Amid Middle East Conflict

    Berjaya Food, a Malaysia-based company, has recently reported a significant increase in losses and a decrease in sales for both their fourth quarter and the entire fiscal year. Berjaya Food, which operates Starbucks Coffee in Malaysia and Brunei, along with Kenny Rogers Roasters and Paris Baguette in Malaysia, experienced reduced sales due to a decrease in store numbers.

    Quarterly Report

    The revenue for the group, for the quarter ending on June 30, experienced a decrease of 11 per cent compared to the previous year, settling at RM115.8 million (US$27.4 million). This reduction is mainly attributable to the decrease in the number of store locations. However, the management has noted a slight increase in sales compared to the third quarter. This increment is primarily due to an improved sales performance from Starbucks Malaysia.

    In this quarter, the loss before tax increased from RM42.6 million to RM183.7 million. The primary reason for this increase was the impairment of property, plant, and equipment (PPE) and right-of-use (ROU) assets linked to non-performing stores.

    Annual Report

    For the entire fiscal year, the revenue dropped by 36 per cent, amounting to RM476.7 million. This drop is linked to the ongoing sentiment surrounding the Middle East conflict, which has affected market dynamics and altered customers’ purchasing behaviours.

    The pre-tax loss for the year broadened from RM89 million to RM288.7 million. This loss was due to the necessary impairment provision to PPE and ROU assets, resulting from the downsizing of Starbucks Malaysia’s operations.

    Questions & Answers

    What were the main reasons for the loss in Berjaya Food’s fourth quarter and fiscal year?
    The primary reasons were the impairment of property, plant, and equipment (PPE) and right-of-use (ROU) assets of non-performing stores, and also the downsizing of Starbucks Malaysia’s operations.

    Did Berjaya Food see any improvement in the fourth quarter compared to the third quarter?
    Yes, sales were slightly higher in the fourth quarter compared to the third, primarily due to improved sales performance at Starbucks Malaysia.

    How did the Middle East conflict affect Berjaya Food’s annual results?
    The ongoing conflict in the Middle East has influenced customers’ spending patterns and affected market dynamics, which contributed to the significant drop in the annual revenue.

  • Domino’s Pizza China Reports Record Half-year Revenue, Loyalty Program Membership Soars

    Domino’s Pizza China Reports Record Half-year Revenue, Loyalty Program Membership Soars

    Domino’s Pizza in China has announced an impressive 27% surge in its half-yearly revenue, reaching RMB2.59 billion (US$363.2 million). This continued the firm’s trend of double-digit growth year on year.

    Impressive Profit Growth

    The company’s net profit growth was also highly commendable, registering an increase of 504.4% to RMB65.9 million. Additionally, the adjusted net profit saw a significant increase of 79.6% year on year, reaching RMB91.42 million.

    Loyalty Program Boost

    The first half of the year saw 30.1 million people signing up for Domino’s China’s loyalty program, representing a substantial 55.2% increase compared to the previous year. The revenue generated by the loyalty members constituted an increased percentage of the company’s total revenue, moving from 63.6% to 66%. This development indicates a growing scale, and a deepening engagement and loyalty from the customers.

    Expanding Store Network

    Since the third quarter of 2017, Domino’s China has been rapidly expanding its store network through its ‘go-deeper, go-broader’ approach. This has led to the company increasing its store count from merely 100 stores to 1198 stores spread across 48 cities on the Chinese mainland.

    Domino’s attributes its successful expansion to stringent site evaluation standards. The company ensures that each new store meets the requirements for long-term profitability. This has helped the firm maintain its store closure rate below the industry benchmarks.

    Questions & Answers

    What was the increase in Domino’s Pizza China’s half-year revenue?
    The half-year revenue of Domino’s Pizza China increased by 27%, amounting to RMB2.59 billion (US$363.2 million).

    How many people signed up for Domino’s China’s loyalty program in the first half of the year?
    In the first half of the year, 30.1 million people signed up for Domino’s China’s loyalty program.

    How many stores does Domino’s China currently have?
    Domino’s China currently has 1198 stores across 48 cities on the Chinese mainland.

  • Chanel Unveils Signature Duplex Boutique At Seoul’s Incheon Airport, Partners With Shilla Duty Free

    Chanel Unveils Signature Duplex Boutique At Seoul’s Incheon Airport, Partners With Shilla Duty Free

    Chanel, the renowned French luxury brand, has recently launched a duplex store in partnership with Shilla Duty Free at Seoul’s Incheon International Airport. This store, situated in Terminal 2, is a reflection of the brand’s signature style, featuring a colour scheme of black and white, adorned with touches of modern art.

    At this duplex store, customers can look forward to browsing through Chanel’s vast collection. The offerings include ready-to-wear clothing, footwear, and accessories. The ground floor is dedicated to showcasing iconic Chanel bags as well as the brand’s newest products, like the Chanel 25 handbag.

    A representative from Shilla Duty Free expressed their optimism regarding the new store. They anticipate the Chanel duplex boutique will become a significant attraction at Incheon International Airport due to its size, unique interior design, comprehensive product range, and superior customer service.

    Chanel is not the only luxury brand under Shilla Duty Free’s umbrella. Other high-end names, such as Tiffany & Co, Omega, and Dior, are also managed by Shilla Duty Free, with plans for these brands to open stores next year.

    In related news, Chanel has also taken a significant step towards sustainability. The company has set up Nevold, a separate division that focuses exclusively on waste management and recycling.

    Despite challenges faced by the luxury sector, resulting in a 4.3% decrease in revenues to $18.7 billion for the year ending on December 31, Chanel remains committed to providing high-quality luxury products and outstanding customer experiences.

    Questions & Answers

    What is unique about Chanel’s new duplex store at Incheon International Airport?
    The store stands out for its size, stylish interior design inspired by Chanel’s brand colours of black and white, its extensive range of products, and its outstanding customer service.

    What can customers expect to find in this new Chanel store?
    Customers can explore a wide selection of Chanel’s collection including ready-to-wear clothing, footwear, accessories, and iconic bags like the Chanel 25 handbag.

    What other luxury brands are operated by Shilla Duty Free?
    Shilla Duty Free also operates other high-end brands such as Tiffany & Co, Omega, and Dior, which are all planning to open stores next year.

  • Luxury Giant Lanvin Group Experiences 22% Revenue Drop Amid Global Luxury Demand Downturn

    Luxury Giant Lanvin Group Experiences 22% Revenue Drop Amid Global Luxury Demand Downturn

    Lanvin Group, which houses well-known luxury brands such as Lanvin, Wolford, Sergio Rossi, St John, and Caruso, recorded a decrease in revenue during the first half of the year. The group reported US$155.6 million in revenue, marking a 22% drop in comparison to the previous year. The drop was largely attributed to a global decrease in luxury demand.

    Impact on Sales

    The group’s sales were negatively influenced by a decline in wholesale performance in both EMEA (Europe, the Middle East, and Africa) and Greater China. Market pressures also contributed to the decline. Nevertheless, Lanvin Group expressed optimism, noting the positive impact of disciplined cost management and efficiency measures.

    The group achieved a gross profit of $84.2 million, with a profit margin of 54%. This was supported by efficient inventory management during a period of creative transition. Zhen Huang, chairman of Lanvin Group, stated that the group remained disciplined in cost management and strategic streamlining, despite a challenging luxury market in the first half of the year.

    Individual Brand Performance

    Among the brands under the Lanvin Group, Lanvin experienced the most significant decline, with revenue dropping by 42%. This was primarily due to a lack of enthusiasm from wholesale partners in EMEA. Still, the brand reported resilience in the region’s retail sector and noted progress in the Asia-Pacific region. Lanvin also reported a strong rebound in North American e-commerce, thanks to a new marketplace model.

    Wolford revenue declined by 23%, but wholesale sales rose by 14%. Lower production utilization and inventory clearance impacted the gross margin, but cost-saving measures helped cut general and administrative expenses by 18%.

    Sergio Rossi saw a 25% decrease in sales, with direct-to-consumer revenue and wholesale declining by 21% and 33% respectively. The gross margin narrowed by nine percentage points, but an improved second quarter saw retail sales increase by 17% and e-commerce sales increase by 10% compared to the previous quarter.

    St John maintained steady revenue, with a 4% growth in North America and an 11% increase in wholesale. The brand also managed to maintain a 69% gross margin and an 11% contribution margin.

    Caruso experienced an 11% decline in revenue, primarily due to a temporary slowdown in its Maisons business.

    Strategic Measures for Improvement

    Andy Lew, the executive president of the group, indicated that going forward, they plan to refine their retail footprint, strengthen wholesale partnerships, and invest in new creative leadership to drive growth in the second half of the year.

    Furthermore, the group intends to maintain operational discipline while focusing on future growth. By incorporating fresh creative direction across all their brands, supported by targeted marketing and refined channel strategies, they aim to build brand momentum and increase consumer engagement.

    Questions & Answers

    What was the total revenue reported by Lanvin Group in the first half of the year?
    The group reported a revenue of US$155.6 million.

    Which brand under the Lanvin Group experienced the most significant revenue decline?
    Lanvin brand experienced the sharpest revenue decline at 42%.

    What are some of the strategic measures the group plans to implement in the second half of the year?
    The group plans to refine its retail footprint, strengthen wholesale partnerships, and invest in new creative leadership. In addition, the group aims to maintain operational discipline, introduce fresh creative direction across their brands, and enhance marketing and channel strategies.

  • Wala Wala Cafe Bar in Singapore Abandons Closure Plans Thanks to Incredible Community Support!

    Wala Wala Cafe Bar in Singapore Abandons Closure Plans Thanks to Incredible Community Support!

    Stanley Yeo, the owner of Wala Wala Cafe Bar, recently shared that he was contemplating calling it quits due to declining visitor numbers, a challenging labor market, and soaring operational costs that have pushed rent for the venue’s 1,700-square-foot ground floor up by 9% over the past two years to S$28,000 (US$21,700) per month. However, the tide turned as the community rallied in support of the beloved establishment.

    By July, the bar saw a “significant increase” in foot traffic, reviving its fortunes. A heartwarming Instagram post last Tuesday revealed that Wala Wala’s landlord had “kindly offered revised terms that make it feasible” for the cafe bar to continue operating in Holland Village.

    “We have been deeply moved by the overwhelming support from our community — customers, friends, suppliers, and neighbors alike,” the post announced. “Today, we are heartened to share that Wala Wala Cafe Bar will remain in Holland Village.”

    Established in 1993, Wala Wala has been a cherished local gem, known for its hearty fare, draft beers, and lively weekend atmosphere. Once famous for hosting live music on its second floor — now closed since 2021 — the venue has since refocused on its food and beverage offerings, as noted by Bandwagon Asia.

    The decision to keep Wala Wala open is a sigh of relief for Holland Village, an increasingly popular dining and shopping hotspot currently facing a wave of closures. In recent months, local businesses such as Thambi Magazine Store, Lim’s Holland Village furniture shop, party store Khiam Teck, and soft-serve ice cream haven Sunday Folks have all shut their doors, as outlined by Channel News Asia.

    These closures highlight a troubling trend in Singapore’s food and beverage scene, where several beloved establishments are now bidding farewell. Two Michelin-starred restaurants — Euphoria and Alma by Juan Amador — closed this month, while well-known dessert spots Flourish Bakehouse and Fluff Bakery announced similar plans for September. Additionally, heritage eatery Ka-soh, noted for its Cantonese-style fish soup, will shut its last location later this month.

    Questions & Answers

    What factors led Stanley Yeo to consider closing Wala Wala Cafe Bar?
    Yeo cited falling visitor numbers, a tough labor market, and a significant rise in operating costs as the primary reasons behind his contemplation of closure.

    How has the local community reacted to Wala Wala’s potential closure?
    The community showed overwhelming support, resulting in a notable increase in foot traffic, which ultimately encouraged the landlord to offer revised terms that allowed the cafe bar to continue operations.

    What recent closures in Holland Village reflect a broader trend in Singapore’s F&B sector?
    Recent closures include popular local spots like Thambi Magazine Store and Lim’s Holland Village, mirroring a concerning trend where several well-known dining establishments, including Michelin-starred restaurants, have also announced their shutdowns.

  • Jakarta Mall Rental Rates Rise 0.5% in Q2: A Sign of Optimism in Retail Space Market

    Jakarta Mall Rental Rates Rise 0.5% in Q2: A Sign of Optimism in Retail Space Market

    Rental prices in Jakarta’s vibrant retail landscape are holding strong despite a lull in new supply. According to a recent report from JLL, mall rents in the bustling Indonesian capital have risen approximately 0.5% in the second quarter of 2025. This increase is particularly pronounced in popular shopping centers where occupancy levels run high, suggesting that premium real estate continues to be a hot commodity. Analysts predict that rental rates will remain in the single digits for the remainder of the year.

    International Brands Drive Retail Expansion

    The retail scene is buzzing with activity, notably due to international brands that represented around 55% of new store openings during this period. Among the notable entrants are a slew of Chinese tea companies, making their debut in the thriving Jakarta market. This influx highlights Jakarta’s appeal as a burgeoning marketplace while underscoring the strategic partnerships that many retailers forge with influential retail groups. These relationships offer substantial bargaining power, enabling tenants to negotiate favorable lease terms and achieve reasonable rent increases.

    Active Lifestyles Fuel Sports Retail Growth

    As Jakarta residents increasingly embrace active lifestyles, the demand for sports retail has soared. Both local and international brands are capitalizing on this trend by opening flagship stores designed to attract health-conscious shoppers. However, the search for retail space has become competitive, prompting brands to explore alternative locations, both within and outside traditional shopping malls.

    Prime Retail Space Constraints

    This quarter marked a significant milestone with no new prime shopping malls making their debut. Consequently, vacancy rates have stabilized around 4%, despite the shrinking pool of available retail space. Some tenants are now opting for creative solutions such as island or booth locations to ensure they maintain visibility among consumers. With no immediate plans for new premium malls, expanding brands—particularly in the food and beverage sector—are increasingly targeting busy areas with outdoor options that resonate with today’s health-oriented lifestyle.

    Innovative Approaches Among Developers

    The outlook for Jakarta’s retail scene suggests a shift in development strategies as opportunities for new premium shopping malls diminish. Developers are now focused on crafting retail environments that reflect evolving market trends, with an emphasis on lifestyle malls and compound spaces. Although limited availability of prime locations may benefit developers, any decisions regarding rent adjustments are likely to be made with caution, as they must navigate the complexities of economic fluctuations and consumer foot traffic.

    Questions & Answers

    What factors are contributing to the rise in rental prices in Jakarta?
    An increase in occupancy rates at popular shopping centers and a surge in international brand openings are key factors driving rental prices upward in Jakarta.

    How are retailers adapting to the lack of new retail space?
    Many retailers are exploring alternative locations, including smaller islands or booths, to maintain visibility amidst a competitive environment where traditional mall space is becoming scarce.

    What types of retail developments are expected in the near future?
    Developers are anticipated to pivot toward creating lifestyle malls and compound spaces, aligning with contemporary consumer trends, as new premium malls are unlikely to be constructed in the next year.

  • Vietjet Reports Strong H1 2025 Performance and Launches New Ho Chi Minh City–Manila Route

    Vietjet Reports Strong H1 2025 Performance and Launches New Ho Chi Minh City–Manila Route

    Vietjet Aviation Joint Stock Company has released its audited financial report for the first half of 2025, reporting strong growth and reinforcing its position as a rising global carrier. Vietjet now operates four direct services linking Singapore with Hanoi, Ho Chi Minh City, Phu Quoc and Da Nang and is boosting its services to Da Nang and Phu Quoc with 49 round-trip flights weekly between Singapore and Vietnam by the end of this year.

    The airline’s performance reflects Vietnam’s emergence as a key aviation hub in Asia and worldwide, while expanding its international network with a new direct route to Manila, Philippines.

    Robust Financial Growth

    In the first six months of 2025, Vietjet achieved air transport revenue of VND35.601 trillion (approx. SGD1.73 billion), with a pre-tax profit of nearly VND1.6 trillion (approx. SGD77.80 million), marking a 37% Year-on-Year (YoY) increase. Consolidated revenue was VND35.837 trillion (approx. SGD1.74 billion), with a pre-tax profit surpassing VND1.651 trillion (approx. SGD80.26 million), reflecting a staggering 65% YoY growth.

    During this period, Vietjet operated 79,000 flights, transporting 14.4 million passengers and contributing over VND4.528 trillion (approx. SGD219.83 million) in taxes and fees. The company’s financial indicators remain strong, with excellent liquidity and consolidated assets exceeding VND112 trillion (approx. SGD5.44 billion).

    Fleet Expansion and Strategic Investments

    Vietjet continued its fleet expansion, ordering 20 A330neo aircraft with Airbus, raising its total order for A330neo to 40, making it the airline with the largest A330neo order in the world.

    At the 2025 Paris Air Show, Vietjet secured a historic order for 100 A321neo aircraft, along with 50 purchase options—the largest deal in the industry—positioning Vietjet among the top 10 airlines globally in terms of aircraft orders.

    Additionally, Vietjet and Rolls-Royce have signed an agreement for 40 Trent 7000 engines to power 20 wide-body Airbus A330neo aircraft, bringing the total number of Trent 7000 engines ordered by the airline to 80.

    Vietjet has broken ground on its Aircraft Maintenance Technical Center at the under-construction Long Thanh International Airport, featuring Hangars 3 and 4 capable of servicing 10 aircraft simultaneously. Additionally, self-service ground operations have been rolled out at major airports to optimise operations and enhance the passenger experience.

    International Expansion: Ho Chi Minh City–Manila Route

    Vietjet will launch a new direct service linking Ho Chi Minh City with Manila, beginning 22 November 2025, with five weekly round-trip flights. This route marks the airline’s first direct connection between Vietnam and the Philippines. Together with flight increases between Vietnam and Singapore, this connectivity will support seamless travel, trade, and cultural exchange in Southeast Asia.

    Travellers can now book their seats at attractive introductory fares.    

    Recognised Excellence and Strategic Vision

    Vietjet has been recognised by AirlineRatings as the “World’s Best Ultra Low-Cost Carrier” and ranked among the Top 5 revenue-generating enterprises by Forbes Vietnam for 2024. The airline continues to expand its footprint, having launched new routes to Singapore, China, India, and Japan in 1H2025, with more international services planned.

    With a modern, fuel-efficient fleet, professional cabin crew, and innovative service offerings, Vietjet remains committed to delivering exceptional value and comfort while driving sustainable growth and global expansion.     

       

  • OpenAI Plans Ambitious 1 GW Data Center Investment in India

    OpenAI Plans Ambitious 1 GW Data Center Investment in India

    OpenAI, the innovative force behind ChatGPT, is making waves with its plans to potentially establish a data center in India, targeting a staggering capacity of at least 1 gigawatt. According to a report from Bloomberg, discussions are ongoing between OpenAI and local partners to bring this ambitious vision to life.

    Details of the Proposed Data Center

    The data center will play a pivotal role in OpenAI’s Stargate initiative, an extensive expansion of its infrastructure across Asia. While the specific location and timeline for the facility remain under wraps, anticipation is building, especially with CEO Sam Altman poised to share more details during his upcoming visit to India.

    Aiming for Local Impact

    This initiative comes on the heels of OpenAI planning to launch its first office in Delhi NCR later this year, marking a significant milestone as India stands as OpenAI’s second-largest market by user base. Altman recently revealed that ChatGPT usage in the country has surged fourfold within the past year, reinforcing the company’s commitment—“We are excited to invest much more in India,” he stated.

    Collaborating with Government Initiatives

    The project aligns with India’s ambitious IndiaAI Mission, designed to foster the development and deployment of indigenous AI technologies. OpenAI has expressed interest in collaborating with the Indian government to “build AI for India with India,” signaling a dedication not just to market growth but also to local development. This can be likened to a high-stakes chess game, where each move must be calculated to succeed on a grand scale.

    Strategic Partnerships and Investments

    With backing from Microsoft, OpenAI has already made its mark by registering as a legal entity in India and assembling a local team. This move complements a larger framework of investment under the Stargate initiative, which unveiled a commitment of up to $500 billion for AI infrastructure in the U.S., supported by major players like SoftBank and Oracle.

    Questions & Answers

    What is the projected capacity of OpenAI’s proposed data center in India?
    The data center is projected to have a capacity of at least 1 gigawatt.

    How has ChatGPT usage in India changed over the past year?
    ChatGPT adoption in India has reportedly grown fourfold in the last year.

    What is the significance of the IndiaAI Mission in relation to OpenAI’s plans?
    The IndiaAI Mission aims to foster homegrown AI development, aligning with OpenAI’s vision of partnering with the government to enhance local AI capabilities.