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  • EatKinda eyes US growth as cauliflower ice cream gains traction

    EatKinda eyes US growth as cauliflower ice cream gains traction

    New Zealand-based company EatKinda, which has garnered attention for its innovative cauliflower ice cream, is ramping up its expansion efforts in the United States as part of its global operational scaling.

    Established in 2023, EatKinda has pioneered a unique method for creating frozen treats. The company upcycles cauliflowers that may not be visually perfect, transforming them into plant-based ice cream. The eco-friendly approach extends to its packaging as well, with EatKinda opting for 100 per cent home-compostable tubs for its product.

    Mrinali Kumar, Co-founder and CEO of EatKinda, sees this expansion not only as a personal feat but also as an opportunity to highlight the inventive products emerging from Aotearoa, New Zealand. He emphasized the potential of building with a clear purpose in mind.

    According to EatKinda, the company’s ice cream formulation, which is free from dairy, gluten, soy, and nuts, has found favor among consumers looking for inclusive, sustainable sweet treats.

    In a strategic move, EatKinda is curbing its domestic operations to concentrate on its expansion in the US, a decision backed by investors such as Massey Ventures, WNT Ventures, and Beder Bite Ventures.

    EatKinda has made significant environmental contributions since its inception. The company has successfully redirected over 2900 kilograms of cauliflower from landfills and eliminated the necessity for over 45,000 plastic tubs through its compostable packaging.

    Questions & Answers

    What is unique about EatKinda’s ice cream?
    EatKinda’s ice cream is unique because it’s made from cauliflower, particularly those that are not cosmetically perfect, and it is free from dairy, gluten, soy, and nuts.

    What environmentally-friendly steps has EatKinda taken as a company?
    EatKinda has taken several steps to be environmentally friendly. They have diverted over 2900 kilograms of cauliflower from landfills and switched to 100 per cent home-compostable tubs for their product, eliminating the need for over 45,000 plastic tubs.

    What is the company’s focus in terms of its business operations?
    EatKinda is currently focusing on expanding its operations in the United States while curtailing its domestic operations in New Zealand. This strategic decision is backed by its investors.

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  • Dodo Pizza, the fastest-growing chain, closes its outlets in Ho Chi Minh City.

    Dodo Pizza, the fastest-growing chain, closes its outlets in Ho Chi Minh City.

    In a surprising twist within the competitive pizza landscape of Vietnam, Dodo Pizza, once hailed as the fastest-growing pizza chain globally, has announced the closure of all four of its outlets in Ho Chi Minh City. The final day of operations is set for May 26, marking the end of a four-year venture in the city.

    In a Facebook update, the company attributed its decision to “various factors and a new strategic direction.” Following the closures, Dodo Pizza will maintain only one location, situated in Binh Phuoc Province, approximately 120 kilometers away from the bustling city.

    Dodo Pizza achieved remarkable recognition in 2021 when U.S.-based food market research firm Technomic praised it as the “fastest-growing pizza chain in the world.” When it first entered the Vietnamese market, the chain identified the region as brimming with potential, particularly due to its expanding middle class. Today, Dodo Pizza operates over 1,300 outlets across 24 countries and reported a revenue increase of 19% last year, reaching a substantial US$1.2 billion.

    In its quest for growth, the company is actively exploring strategic partnerships, targeting national franchisees and multi-unit operators in markets such as the Middle East, Africa, Asia, and South America. However, the Vietnamese food and beverage scene, especially the pizza segment, remains fiercely competitive, with numerous domestic and international brands vying for customer attention. Major players include local favorite Pizza 4P’s, highly recognized American franchises like Pizza Hut and Domino’s Pizza, and Thailand’s The Pizza Company, alongside a host of European and Australian brands.

    The Vietnamese pizza market, valued at $780 million in 2024, is on a growth trajectory, projected to reach $1.1 billion by 2033, according to IMARC Group. As consumer demand for quick and convenient dining rises amid increasingly hectic lifestyles, pizzas are not only a staple in dedicated restaurants but are also making their way onto the menus of an expanding array of hotels and eateries.

    In a landscape where everyone is fighting for the pizza crown, Dodo Pizza’s retreat raises intriguing questions about the resilience of brands in hotly contested markets.

    Questions & Answers

    **What led Dodo Pizza to close its HCMC outlets?**
    The company cited “various factors and a new strategic direction” for the closures.

    How many Dodo Pizza locations will remain open in Vietnam?
    After the closures, Dodo Pizza will have just one remaining location in Binh Phuoc Province.

    What is the current state of the pizza market in Vietnam?
    The Vietnamese pizza market is highly competitive and is projected to grow from $780 million in 2024 to $1.1 billion by 2033, driven by rising demand for convenient dining options.

  • Hong Kong Tycoon Joseph Lau Offloads $5.8 Million Wine Collection in High-Stakes Sale

    Hong Kong Tycoon Joseph Lau Offloads $5.8 Million Wine Collection in High-Stakes Sale

    Hong Kong billionaire Joseph Lau is making waves in the luxury auction scene, preparing to sell a stunning wine collection valued at over HK$35 million (approximately US$5.8 million). This extensive collection features more than 200 lots, highlighting some of the finest wines available.

    Rare Bottles Take Center Stage

    Among the standout selections are exceptional offerings from renowned winemakers such as Henri Jayer and Petrus, alongside exquisite choices from Domaine de la Romanée-Conti. This prestigious auction is a key feature of Christie’s Hong Kong Luxury Week, as reported by Bloomberg.

    The Crown Jewel of the Auction

    The highlight of the auction is likely to be ten exceptional bottles of Henri Jayer’s Vosne-Romanée Cros-Parantoux, which carry an eyebrow-raising estimated price of up to HKD1.4 million. Scheduled for Thursday, this marks Lau’s third collaboration with Christie’s for wine sales, following two very successful auctions in 2022 that together amassed an impressive US$16 million. In fact, several lots from those past sales brought in over double their high estimates, signaling a robust interest in his collection.

    Lau’s Wealth and Controversies

    At 73 years old, Lau stands as a significant player in the auction sphere, both as a collector and a seller. His fortune is estimated at US$5 billion, largely derived from valuable commercial property holdings and a stake in Chinese Estates Holdings Ltd. However, Lau’s property enterprise has encountered hurdles due to a downturn in the Hong Kong real estate market. Additionally, his past includes a conviction for bribery and money laundering in Macau in 2014—yet he has remained a free man due to the lack of an extradition agreement between Macau and Hong Kong.

    With such a high-profile sale and a history filled with both opulence and controversy, it’s clear that Lau continues to be a captivating figure in the luxury sector, where the clink of glasses might just be a reminder of his complex journey.

    Questions & Answers

    **What types of wines are featured in Joseph Lau’s auction?**
    The auction features premium wines, including rare bottles from prestigious winemakers such as Henri Jayer, Petrus, and Domaine de la Romanée-Conti.

    When is the auction taking place?
    The auction is scheduled for Thursday as part of Christie’s Hong Kong Luxury Week.

    What is Joseph Lau’s estimated net worth?
    Joseph Lau’s net worth is estimated at US$5 billion, primarily from commercial property holdings and a stake in Chinese Estates Holdings Ltd.

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  • Ocean City Elevates Hanoi Tourism Through Dynamic Visitor Engagement Initiatives

    Ocean City Elevates Hanoi Tourism Through Dynamic Visitor Engagement Initiatives

    Beyond its viral beginnings, Ocean City has blossomed into a vibrant epicenter of culture, entertainment, and lifestyle, captivating enormous crowds and reshaping the regional tourism landscape. What initially sparked social media buzz has transformed into a weekly tourist magnet, drawing in hundreds of thousands of visitors. Notably, the Anh Trai Vuot Ngan Chong Gai concert attracted a staggering 130,000 attendees in just one day, while events like the Korea Travel Festa and the Vincom 20th Anniversary Concert, hosting 30,000 and 20,000 attendees respectively, have culminated in an impressive milestone of over 12 million visitors in 2024.

    Unwavering Appeal Through Year-Round Programming

    Ocean City’s charm thrives on its year-round programming, offering a consistent slate of retail, cultural, and entertainment activities. Daily events—ranging from art performances to community gatherings—keep visitors engaged and encourage them to linger longer. The business ecosystem of Ocean City has matured significantly, demonstrating operational stability complemented by strong commercial performance. With nearly 1,000 stores scattered across themed areas such as The Venice, K-Town, Little Hong Kong, and Sake Village, the hustle and bustle are particularly vibrant on weekends and holidays. Many brands within the fashion, beauty, F&B, and entertainment sectors are delighting in revenue surpassing expectations, proving that Ocean City is as lucrative as it is picturesque.

    A Lifestyle Beyond Living: Residents Weave Community in Ocean City

    For residents like Cho Ducksang, a South Korean national who has called Vietnam home for the past nine years, Ocean City is much more than just a residence. It is a lifestyle hub that fosters relaxation, social connections, and a sense of community. “I often kick off my day with a swim, enjoy fishing on weekends, and relish vibrant nights with friends in Little Hong Kong,” Cho shared, fondly recalling memories from a BBQ festival at Sake Village filled with grilled meats and cold beers. “Even when friends arrive late from Korea, we can always find lively restaurants in Little Hong Kong. It’s where we’ve created many unforgettable evenings.” He cherishes the community events, particularly live music and street performances, which inject vitality into the area each day.

    A Destination Shaped by Experiences

    These enriching experiences fortify Ocean City’s identity, showcasing it not merely as a residential development but as an evolving urban destination where both residents and visitors contribute to its vibrant tapestry. The customer journey is crafted through consistent operations and continual enhancements, rather than relying solely on architecture.

    Thriving Future with Vincom Mega Mall

    Looking forward, Ocean City is poised to elevated its allure with the upcoming Vincom Mega Mall Ocean City set to launch in 2025. Spanning nearly 70,000 square meters, this commercial complex aims to embody the “One-Stop Shoppertainment” model in Vietnam, enhancing visitor experiences through shopping, entertainment, dining, and relaxation. With four experience pillars—Show, Shop, Food, and Fun—the mall plans to introduce several innovative features. Among these is VinPalace, Vietnam’s first theater within a shopping mall, boasting 1,600 seats and state-of-the-art production technology for shows inspired by Vietnamese folklore, representing over $13 million in investment. Moreover, northern Vietnam will welcome its first full-scale Korean-style wellness complex, Aquafield, providing a rejuvenating blend of sauna, jjimjilbang, and specialized massage services in one venue.

    The mall will house more than 150 brands, including well-known names like AEON, Mr. D.I.Y., CGV, Kidzooona, and Phuong Nam Book City. Positioned strategically at the heart of Ocean City, Vincom Mega Mall Ocean City is expected to bolster the momentum that has made Ocean City a trending destination. With its expansive scale, unique amenities, and experiential design, the mall is set to redefine contemporary urban living. “More than just a shopping destination, it promises to be a transformative journey,” remarked a Vinhomes representative, hinting that each visit might just lead you to rediscover a bit of magic.

    Questions & Answers

    What types of events can visitors expect at Ocean City? Ocean City hosts a variety of activities year-round, including concerts, art performances, and community gatherings to keep visitors engaged.

    How has the business ecosystem at Ocean City evolved? With nearly 1,000 stores operating in themed areas, the business ecosystem has matured, showcasing operational stability and robust commercial performance.

    What will Vincom Mega Mall offer that sets it apart? Vincom Mega Mall will introduce Vietnam’s first theater within a shopping mall, alongside a full-scale Korean-style wellness complex, making it a unique destination for shopping and entertainment.

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  • UBS Revitalizes Global Wealth Management Division with Strategic Reshuffle

    UBS Revitalizes Global Wealth Management Division with Strategic Reshuffle

    Swiss banking giant UBS is set to unveil a transformative change within its wealth management division, entrusting a former Credit Suisse executive with leading a newly established unit. This exciting development was revealed through an internal memo shared on Tuesday, jointly issued by the co-heads of Global Wealth Management (GWM), Iqbal Khan and Rob Karofsky. A spokesperson for the bank confirmed the organizational shift.

    Introducing Global Connectivity

    Beginning July 1, 2025, Benjamin Cavalli, who currently oversees Strategic Clients, will take charge of the newly formed unit titled “Strategic Clients and Global Connectivity.” This move not only positions Cavalli as a pivotal player in strengthening client relations but also ensures he continues to report directly to Khan and Karofsky as a key member of the GWM Management Team. Additionally, he will maintain oversight over the GWM Executive Chairs and the Global Financial Sponsors Team.

    His mandate is clear: to elevate global connectivity for every client, fostering collaboration across various business areas and functions—a mission that echoes the bank’s commitment to client-centric services.

    A Familiar Face from APAC

    Prior to the merger of Credit Suisse with UBS, Cavalli held the prestigious role of Asia-Pacific head of private banking at his former employer. His extensive experience from this vantage point is anticipated to drive growth and innovation in UBS’s offerings.

    Strengthening Client Services

    In conjunction with these changes, the UHNW Solutions Group, which now resides under Strategic Clients, will transition to GWM Solutions. Notably, the Strategic Client Coverage and Next Generation Solutions teams will be incorporated into Cavalli’s new unit, integrating their expertise to enhance service delivery.

    With this reshuffle, UBS aims to bolster its ultra-high-net-worth offerings and promote improved regional collaboration, ultimately benefiting its clientele. More specifics on the transition are expected to be announced soon, leaving many optimistic about what’s to come.

    Questions & Answers

    What is the primary focus of the newly formed unit at UBS?
    The new unit, “Strategic Clients and Global Connectivity,” will focus on enhancing global connectivity for clients and improving collaboration across various business areas within UBS.

    Who will lead the new unit at UBS?
    Benjamin Cavalli, currently the Head of Strategic Clients, will take the lead on July 1, 2025.

    What changes will occur to the UHNW Solutions Group?
    The UHNW Solutions Group will be relocated to GWM Solutions, although the Strategic Client Coverage and Next Generation Solutions teams will join Cavalli’s new unit instead.

  • LINE FRIENDS Partners with UK IP ‘Ketnipz’ to Accelerate Global IP Expansion

    LINE FRIENDS Partners with UK IP ‘Ketnipz’ to Accelerate Global IP Expansion

    Global character brand LINE FRIENDS partners with social media sensation Ketnipz to expand its footprint in North America and Asia

    • LINE FRIENDS (corporately known as IPX) has officially partnered with Ketnipz, the popular character-driven brand with over 10 million fans across social media platforms.

    • This highly-anticipated collaboration aims to grow the Ketnipz IP on a global scale, leveraging LINE FRIENDS’ storytelling expertise, global infrastructure and creative vision.

    • The partnership will focus on expanding Ketnipz’s presence in key markets such as North America and Asia through licensing opportunities, brand collaborations and original content development.

    With a strong fanbase in Europe and the U.S., Ketnipz brings a unique cultural resonance that, combined with LINE FRIENDS’ global reach, is expected to strengthen both brands’ influence in the international IP landscape.

    LINE FRIENDS (corporately known as IPX) is proud to announce its partnership with Ketnipz, the UK-born character IP that has captured the hearts of over 10 million fans worldwide, through its unique illustrations, relatable story-telling and always-uplifting messages. The partnership grants rights for Ketnipz in South Korea and China, with plans to scale IP activities across various countries and regions, including North America.

    Ketnipz, created by Welsh artist Harry Hambley in 2016, has gained viral popularity primarily in Europe and North America through its genuine, relatable content, with themes of self-love and positivity. The brand began with just one character “Bean” but has since expanded its universe with additional characters such as ‘Nana Bean’, ‘Catto’ and ‘Doggo’. Ketnipz holds a strong online presence through social media platforms, including Instagram, TikTok and YouTube, with over 10 million global fans following. The brand has extended its IP global footprint through collaborations with major global companies like McDonald’s, Instagram, Casetify and Samsung.

    LINE FRIENDS, with over a decade of expertise developing its globally loved original character IPs like LINE FRIENDS and BT21, is well positioned to partner with Ketnipz and expected to bring the unique identity of Ketnipz through Gen Z trends worldwide. The partnership will expand its business not only in Asia but in Europe and North America.

    LINE FRIENDS plans to leverage its IP business capabilities to expand Ketnipz’s presence across Asia while solidifying its leadership in the global IP market. By utilizing its broad network of LINE FRIENDS flagship stores, partnerships with major global brands and diverse business models including licensing, collaborations and content development, LINE FRIENDS will be expanding Ketnipz’s business in Asia and North America.

    LINE FRIENDS has previously led the successful expansion of South Korean IPs such as JOGUMAN, DINOTAENG and MONAMHEE, offering unique IP experiences to fans beyond the home country. The company expects partnering with Ketnipz will further strengthen its presence in the Western market.

    LINE FRIENDS representative stated, “Ketnipz IP has delivered joy and connection with their audience through its heartwarming messages and storytelling. As a leader in global IP business, we believe the company can bring great success with Ketnipz in Asia as well as global markets. Building on our successful global expansion with South Korean IPs, we expect to lead the UK-based IP Ketnipz into the Asian market and will continue to discover character IPs to bring new IP experiences for global fans.”

  • Dollar Edges Up Slightly Against Vietnamese Dong in Currency Markets

    Dollar Edges Up Slightly Against Vietnamese Dong in Currency Markets

    The U.S. dollar edged up slightly against the Vietnamese dong on Tuesday morning, indicating a modest shift in currency dynamics.

    Dollar Movement in Vietnam

    Vietcombank pegged the dollar at VND26,140, reflecting a 0.08% gain from Monday’s figures. Meanwhile, the State Bank of Vietnam adjusted its reference rate, increasing it by 0.008% to VND24,968. In the black market, the dollar was trading at VND26,440, marking a 0.04% rise. Since the start of the year, the dollar has appreciated by 2.31% against the dong—steady progress for the greenback.

    Global Context

    On the global stage, the dollar held its ground after a week of downward trends, caught between concerns from the Federal Reserve regarding the state of the economy and increasing discussions among U.S. lawmakers about a bill poised to inflate the nation’s fiscal deficit, as reported by Reuters. In Japan, the dollar remained stable at 144.87 yen, nudging slightly after dipping to 144.66, the lowest since May 8. Despite recent fluctuations, the dollar index showed little movement following a 0.6% drop in the previous session. Notably, it has plummeted 10.6% since its January peak, marking one of the steepest declines over a three-month span.

    As the dollar dances with the dong and global markets ponder economic policies, one has to wonder—will the greenback keep gaining traction or will it step aside for other currencies?

    Questions & Answers

    **What is the current exchange rate of the U.S. dollar against the Vietnamese dong?**
    The U.S. dollar is currently at VND26,140 according to Vietcombank.

    How much has the dollar increased against the dong since the year began?
    The dollar has risen by 2.31% against the dong since the beginning of the year.

    What are the main factors influencing the dollar’s performance globally?
    Key factors include the Federal Reserve’s cautious approach to the economy and legislative moves in the U.S. that may impact the fiscal deficit.

    Lees ook:

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  • Bitcoin Pizza Day: Could This Anniversary Spark a New All-Time High?

    Bitcoin Pizza Day: Could This Anniversary Spark a New All-Time High?

    May 22, 2010, marked a milestone that would ultimately change the financial landscape: American software developer Laszlo Hanyecz made the first real-world purchase using Bitcoin, spending a staggering 10,000 of the digital currency on two large pizzas. While this might seem like just a fun anecdote, the implications were profound. Those pizzas, delivered by a student from Papa John’s, ignited a movement that has since seen Bitcoin soar astronomically in value.

    Fast forward 15 years, and those 10,000 Bitcoins, once valued at a mere $41, are now worth about $870 million. Talk about a feast gone from humble to legendary! With the current price of Bitcoin hovering above the $100,000 mark, many are left wondering whether a new all-time high is on the horizon.

    Soaring High and No End in Sight

    For Rino Borini, a Bitcoin expert based in Zurich, there’s every reason to believe that major price surges are imminent. The co-founder and CEO of House of Sathosi has set a goal of $150,000 for this year. However, he cautions that the ride will be anything but smooth, likening it to a rollercoaster: “I can easily envision a new record between $110,000 and $115,000 shortly. Yet, brace yourself for some significant price dips along the way,” he reveals.

    Bitcoin Like a Swiss Army Knife

    According to Bitcoin Suisse, a notable player in the cryptocurrency realm, current market dynamics are working in Bitcoin’s favor. Falling inflation rates, increasing global liquidity, and an influx of institutional investments are propelling its popularity. “Bitcoin is increasingly versatile, much like a Swiss army knife—it can adapt both to risk-on and risk-off scenarios,” they state.

    Structurally, a noteworthy shift is taking place in Bitcoin ownership. Institutional investors, including governments, corporations, and exchange-traded funds (ETFs), now hold about 14% of all Bitcoins. Notably, publicly traded companies have amassed over 180,000 Bitcoins this year alone, further cementing Bitcoin’s place in mainstream finance.

    Structural Shift towards Institutional Investors

    Bitcoin Suisse underscores the growing tension between supply and demand as a critical factor in this evolution. They suggest that these structural changes may not only reduce volatility but also accelerate Bitcoin’s journey toward maturation. With such optimism, Bitcoin Suisse even hints at a thrilling price target of $180,000 by year’s end.

    Could we see prices take off on an exhilarating upward trajectory? If history shows us anything, it’s that this digital currency tends to keep us on our toes!

    Questions & Answers

    **What was the significance of Laszlo Hanyecz’s pizza purchase?**
    It marked the first known real-world transaction using Bitcoin, showcasing its potential as a currency.

    What are Bitcoin’s current price dynamics?
    Bitcoin is trading above $100,000, with experts speculating about the possibility of hitting new all-time highs soon.

    What structural changes are occurring in Bitcoin ownership?
    There is a noticeable shift toward institutional investors holding a larger share of Bitcoin, indicating growing acceptance and integration of the cryptocurrency in mainstream finance.

  • Revolut Chooses Paris as Its New Strategic Hub for Western Europe Operations

    Revolut Chooses Paris as Its New Strategic Hub for Western Europe Operations

    Neobank Revolut is strategically placing its Western European headquarters in the heart of Paris while simultaneously applying for a French banking license.

    In an exciting development for the European banking scene, UK-based neobank Revolut is broadening its reach. Antoine Le Nel, the company’s global Chief Growth Officer and Chief Marketing Officer, shared the news on LinkedIn, confirming that the vibrant city of Paris will serve as its new hub for Western Europe.

    With this move, the Paris office will directly oversee operations in key markets including France, Spain, Italy, Portugal, Ireland, and Germany.

    Rights to the French Banking Scene

    Revolut is also moving forward with its application for a full French banking license. Le Nel emphasized that this initiative is a significant leap toward positioning Revolut as the most innovative and customer-centric bank in the region. The figures are telling: France is now Revolut’s fastest-growing market in the EU, boasting more than 5 million customers and a staggering 1.6 million new users added just in 2024.

    A Dual-Hub Approach

    Interestingly, the Paris office will work in tandem with Revolut’s existing base in Lithuania. This dual-hub strategy is designed to enhance regulatory collaboration while offering locally tailored financial services across both Western and Eastern Europe, making it a potential recipe for success.

    Although the announcement was silent regarding Switzerland, speculation continues to swirl about Revolut’s interest in a Swiss banking license. The mystery only adds to the intrigue surrounding the company’s rapidly developing European narrative—could this be the next chapter in Revolut’s ambitious foreign foray?

    Questions & Answers

    Why is Revolut choosing Paris for its Western European headquarters?
    Revolut sees Paris as a strategic location due to its status as a major financial hub and its significance as France emerges as Revolut’s fastest-growing EU market.

    What markets will the new Paris office oversee?
    The Paris headquarters will manage operations in France, Spain, Italy, Portugal, Ireland, and Germany.

    Is Revolut pursuing a Swiss banking license?
    While the announcement did not clarify this, rumors suggest that Revolut may indeed be seeking a banking license in Switzerland, indicating potential future expansion plans.

    Lees ook:

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  • Malaysian Exporters Set Sights on Chinese Durian Lovers at Exciting Beijing Fruit Festival

    Malaysian Exporters Set Sights on Chinese Durian Lovers at Exciting Beijing Fruit Festival

    A vibrant Malaysian fruit festival in Beijing showcased the beloved durian, generating estimated revenues between CNY3 million and CNY5 million (approximately US$416,000 to US$693,000) for 50 participating exporters. This exciting three-day event, which wrapped up on Sunday, marked the third consecutive year of Malaysian traders presenting their agricultural offerings to Chinese consumers, as reported by the state-owned newspaper Bernama.

    This year’s event put a special emphasis on durian varieties, notably the coveted Musang King and Black Thorn. Attendees were treated to a visual feast with over 150 kilograms of Musang King and 60 kilograms of Black Thorn durians on display, alongside delightful selections of 120 kilograms of pineapples and 80 kilograms of mangosteens.

    Malaysian Ambassador to China, Datuk Norman Muhamad, expressed his pride in seeing durian, hailed as the country’s “national treasure,” take center stage. He noted that last year, Malaysia’s durian exports to China totaled CNY40.17 million (around US$5.5 million) and emphasized China’s status as Malaysia’s largest trading partner for 16 consecutive years. “This time, we are not selling. We are here to promote, educate, and raise awareness about the uniqueness of Malaysian tropical fruits,” he stated.

    Loh Wee Keng, the chairman of the Malaysia Chamber of Commerce and Industry in China, shared optimistic projections that durian exports to China could rise by 15% to 20% this year. This growth comes despite facing weather-related challenges, fueled by robust consumer demand.

    As the world’s largest durian market, China primarily sources this cherished fruit from Thailand and Vietnam, but countries like Malaysia, the Philippines, and Cambodia are increasingly stepping up their export efforts. It seems like everyone wants a slice of the lucrative durian pie!

    Questions & Answers

    What was the revenue expected from the Malaysian fruit festival in Beijing?
    The festival was estimated to generate between CNY3 million and CNY5 million (around US$416,000 to US$693,000).

    Which durian varieties were showcased at the event?
    The spotlight was on Malaysia’s renowned Musang King and Black Thorn durians.

    How significant is China for Malaysian durian exports?
    China has been Malaysia’s largest trading partner for 16 years, with total exports reaching CNY40.17 million (approximately US$5.5 million) last year.

  • FMG Launches Regional HQ and Debuts Urban Revivo Store in Hong Kong

    FMG Launches Regional HQ and Debuts Urban Revivo Store in Hong Kong

    Chinese fast-fashion retailer Fashion Momentum Group (FMG) has officially launched its regional headquarters and opened the inaugural URBAN REVIVO store in Hong Kong, according to an announcement by Invest Hong Kong (InvestHK). This strategic move is designed to streamline the company’s corporate treasury and retail operations while supporting its global expansion ambitions.

    Arnold Lau, the acting director-general of investment promotion at InvestHK, emphasized the allure of Hong Kong, highlighting its advantageous location and robust supply chain as key factors driving international retail growth.

    Adding to the excitement, Vivian Chen, CEO of International Business at URBAN REVIVO, mentioned that collaboration with InvestHK last year had bolstered their confidence to venture into the Hong Kong market. “Hong Kong introduces us to a diverse customer base, set within a friendly business ecosystem characterized by zero tariffs and effective infrastructure,” she commented. “The city uniquely positions us as a bridge connecting the Mainland to the global market.”

    Fashion lovers and global brands, consider this: Hong Kong isn’t just a shopping destination; it’s a gateway to the world!

    Questions & Answers

    What is the purpose of FMG’s new headquarters in Hong Kong?
    FMG aims to manage its corporate treasury and retail operations more effectively while facilitating its global expansion from Hong Kong.

    What benefits does Hong Kong offer to international retailers?
    Hong Kong provides a strategic location, a robust supply chain, an open business environment with zero tariffs, and effective infrastructure.

    How did FMG gain the confidence to enter the Hong Kong market?
    FMG collaborated with InvestHK, which introduced them to global brands and helped strengthen their confidence in establishing a presence in the region.

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  • Video Content Drives 62% of E-Commerce Purchases in Singapore, Transforming Online Shopping

    Video Content Drives 62% of E-Commerce Purchases in Singapore, Transforming Online Shopping

    Shopee and YouTube Join Forces to Revolutionize Digital Commerce

    In an exciting shift, video commerce now accounts for a remarkable 20% of the total e-commerce value across Southeast Asia. In Singapore, a staggering 62% of consumers report that they’ve made purchases after watching a video on YouTube. This dynamic surge in video-centric shopping is reshaping consumer interactions with brands and transforming how small businesses tap into digital commerce.

    The Role of Video in the Consumer Journey

    Ajay Vidyasagar, the Managing Director for YouTube Southeast Asia and Emerging Markets, emphasizes video’s pivotal role in the consumer journey. “Two out of five consumers in Southeast Asia rely on online videos for their research,” he explains. “YouTube is the go-to platform for 86% of all users in the region.”

    He attributes this upward trend to the vibrant ecosystem of creators, noting, “More than 5,000 YouTube creator channels in Southeast Asia have crossed the 1 million subscriber mark. When creators make a recommendation, there’s genuine belief in its value. YouTube truly stands out because our creators are considered some of the most trusted voices.”

    Engagement is Key

    Chua Kel Jin, Director of Shopee Singapore, reinforces the significance of creator-led content. “People enjoy video commerce because it’s engaging and fun,” he states. “That interaction is essential for building trust. In Singapore specifically, 62% of viewers watch a YouTube video and then feel compelled to make a purchase on an e-commerce platform.”

    Innovative Partnerships and Simplified Access

    In a groundbreaking partnership, Shopee and YouTube have rolled out YouTube Shopping, a feature that allows sellers to sync their products directly with the video platform. “Previously, sellers faced high upfront costs to collaborate with content creators,” Chua points out. “Now, they only pay creators a commission, enhancing return on investment.”

    Shopee is also focused on streamlining access to video commerce tools. “We’ve designed live streaming so that all you need is a phone,” Chua adds. “Plus, our platform provides real-time analytics, enabling sellers to receive immediate feedback to engage buyers more effectively.”

    The Future of Video Commerce

    Looking ahead, both executives predict that video commerce is merely in its infancy. “With video commerce currently representing 20% of all e-commerce, we anticipate significant growth,” Vidyasagar shares. “The future of video commerce lies in creating seamless shopping experiences that integrate directly within users’ favorite videos and creators.”

    In this rapidly evolving retail landscape, it’s clear that watching a cooking blog might not just satisfy your appetite but could also lead to a small kitchen upgrade!

    Questions & Answers

    What percentage of e-commerce in Southeast Asia is driven by video commerce?
    Currently, video commerce constitutes 20% of the total e-commerce value in Southeast Asia.

    How does YouTube Shopping benefit sellers?
    YouTube Shopping allows sellers to sync their products directly with the video platform, reducing upfront costs and requiring only commission payments to creators.

    What does the future hold for video commerce according to the executives?
    Both executives believe that video commerce will see significant growth, with potential for seamless shopping experiences integrated directly into videos and creator content.

    Lees ook:

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  • CJ Olive Young Launches First Korean Snacks Store in Vibrant Busan

    CJ Olive Young Launches First Korean Snacks Store in Vibrant Busan

    Despite the challenging market conditions brought on by rising inflation and supply chain issues, retail giant Walmart continues to show stellar financial performance. In its latest quarterly report, the company announced a surprising 8% increase in revenue, amounting to $152.8 billion. This impressive result showcases Walmart’s ability to adapt in a shifting economic landscape.

    Online Sales Surge Amidst Inflation

    As inflation tightens consumers’ budgets, Walmart has successfully harnessed the power of online shopping. E-commerce sales skyrocketed by 30% in the last quarter alone, indicating that shoppers are increasingly turning to digital platforms for their needs. This uptick in online sales has positioned Walmart as a formidable contender against other retailers, particularly in the realm of fast delivery options and convenience.

    International Markets Fuel Growth

    Walmart’s international division also played a pivotal role in driving growth. With a notable increase of more than 10% in international revenue, the retailer is thriving in markets like Mexico and Canada. Walmart’s strategic focus on local sourcing and personalized services has resonated well with consumers overseas.

    Future Initiatives and Innovations

    Looking ahead, Walmart is keen on continuing its investment in technology, targeting a seamless shopping experience for both physical and online consumers. The company is enhancing its app features and expanding its fulfillment centers to better meet customer demand. Additionally, Walmart aims to introduce new product lines that cater to eco-conscious shoppers.

    In a market where survival often feels like a game of chess, Walmart seems to have the winning strategy. Who knew saving on toilet paper and chips could be such an economic powerhouse?

    Questions & Answers

    What were Walmart’s revenue figures for the last quarter?
    Walmart reported revenues of $152.8 billion, reflecting an 8% increase despite economic challenges.

    How much did e-commerce sales rise in the latest quarter?
    E-commerce sales surged by 30%, demonstrating a growing trend of customers shopping online.

    Which international markets are contributing to Walmart’s growth?
    Walmart’s international division saw more than a 10% increase in revenue, with Mexico and Canada being significant contributors.

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  • Thai Farmers Rally for PM to Enlist Blackpink’s Lisa in Boosting Fruit Exports

    Thai Farmers Rally for PM to Enlist Blackpink’s Lisa in Boosting Fruit Exports

    Thai fruit growers have turned to Prime Minister Paetongtarn Shinawatra with an innovative proposal: enlist K-pop sensation Lisa (Lalisa Manoban) of Blackpink to champion the global promotion of Thai fruits. This request came during the Prime Minister’s recent visit to Chanthaburi province, where farmers highlighted Lisa’s star power as a key to accessing new markets beyond China.

    The farmers passionately argued that Lisa’s endorsement could significantly boost Thailand’s fruit exports, potentially generating over THB 500 billion (approximately US$15 billion) annually. Currently, the nation’s fruit export revenue stands at a considerably lower THB 200–300 billion. With Lisa’s impressive global presence—she boasts over 105 million Instagram followers and holds ambassadorial roles with luxury brands like Celine and Bulgari—the farmers believe her involvement could elevate Thai products on the international stage.

    During the meeting, farmers addressed several pressing challenges, including the critical need for faster customs clearance at border checkpoints, where shipments can face delays of up to 12 days. They urged for clearer regulations to combat premature harvesting of durians, which negatively affects both weight and quality. In addition, they advocated for better policies to address labor shortages, suggesting the extension of work permits for migrant laborers and enabling them to move between provinces for job opportunities. A proposed THB 100 million compensation fund for durian farmers and locals affected by wild elephant incursions also featured prominently in their discussions.

    In response, Prime Minister Paetongtarn assured the farmers that the government is working with companies to purchase surplus produce, thereby minimizing waste. She pledged to streamline export processes and confirmed that the Ministry of Labour will tackle agricultural workforce shortages. As part of her visit, the Prime Minister explored an exhibition by the Young Smart Farmer group, where innovative durian sales through livestreaming were showcased. She also took part in a durian-cutting event, highlighting her commitment to the fruit sector.

    Who knew a K-pop star could be the missing ingredient in boosting Thailand’s fruit exports?

    Questions & Answers

    What was the main request from Thai fruit growers to the Prime Minister?
    They urged Prime Minister Paetongtarn Shinawatra to invite K-pop star Lisa to promote Thai fruits globally, believing her popularity could enhance exports.

    What challenges did the farmers discuss during their meeting?
    They highlighted customs delays, premature harvesting regulations, labor shortages, and proposed a compensation fund for those affected by wild elephants.

    How did the Prime Minister respond to their concerns?
    She committed to improving export processes, addressing labor shortages, and collaborating with companies to purchase surplus produce to reduce waste.

  • Alibaba Attributes Robust Growth to Innovative AI-Driven Strategy

    Alibaba Attributes Robust Growth to Innovative AI-Driven Strategy

    Alibaba Group continues to shine brightly in the tech world, leveraging its “user first, AI-driven” strategy to deliver impressive growth figures for the quarter and fiscal year that concluded on March 31, 2025. In a landscape ripe with innovation, Alibaba’s ability to harness artificial intelligence has been a game-changer, showcasing the immense potential of technology in retail.

    Strong Financial Performance

    The company reported a 6% rise in revenue, totaling an impressive $138.07 billion (RMB996.3 billion) for the fiscal year. Even more striking was the net profit, which shot up by 62% to reach $17.95 billion (RMB129.5 billion), signaling a robust performance amid fierce competition. The Cloud Intelligence Group also shone brightly, boasting an 18% increase in revenue, with AI-related products enjoying a stunning triple-digit growth for the seventh consecutive quarter.

    Success in Customer Engagement

    In a testament to enhanced user experience and effective monetization, Taobao and Tmall’s customer management revenue climbed by 12%. The Taobao and Tmall Group also reported a solid 9% increase in revenue, marking the fastest growth seen in seven quarters. “Our relentless focus on AI and cloud technology is not just driving our core business growth; it is destined to be a cornerstone of our long-term success,” remarked CEO Eddie Wu.

    Shareholder Returns

    The financial health of the company wasn’t just for the company itself. CFO Toby Xu shared that Alibaba repurchased $11.9 billion in shares this fiscal year, resulting in a 5.1% reduction in outstanding shares, while also approving dividends amounting to $4.6 billion. Clearly, the company is not just focused on growth, but also on delivering value to its shareholders.

    As Alibaba continues to soar with AI at its helm, one can’t help but wonder if robots will one day be shopping on Taobao themselves!

    Questions & Answers

    What drove Alibaba’s revenue growth this fiscal year?
    Alibaba’s revenue growth was largely driven by its “user first, AI-driven” strategy, which enhanced customer engagement and monetization.

    How much did Alibaba report in net profit?
    Alibaba reported a staggering net profit of $17.95 billion (RMB129.5 billion), reflecting a 62% increase compared to the previous year.

    What actions did Alibaba take to enhance shareholder value?
    Alibaba repurchased $11.9 billion in shares, reducing outstanding shares by 5.1%, and approved dividends totaling $4.6 billion.

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