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Tag: asia

  • Lacoste’s new travel retail store in Bangkok

    Lacoste’s new travel retail store in Bangkok

    The crocodile shifts to the South and chooses Bangkok as a prey.

    One week after the opening of its new space in Tokyo, the brand just inaugurated its latest travel retail outlet at the King Power Srivaree Duty Free Downtown Complex in Bangkok.

    Pursuing its Asian expansion, the 150sq m boutique also houses the unique and novel “Le Club” retail concept. It debuted in the Asia Pacific travel retail market with the Lotte Duty Free shop in Ginza, Tokyo, earlier this month.

    Le Club goes to the very core of Lacoste’s philosophy as it plays on a fusion of the values of the brand and its creator.

    The architecture of the store was designed and thought for customers to feel, from the second they step into the space, the peculiar tennis court atmosphere. With a green concrete panel as a nod to René Lacoste’s tennis practice wall and an open shopfront, clients can at the first sight relate to the brand’s values.

    Lacoste’s CEO Asia Pacific and global Travel Retail Jean-Louis Delamarre thanked King Power Thailand for their ongoing partnership and said they are “thrilled to open this store in Bangkok Srivaree” which further enhances their presence in Asia.

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  • Lotte prepare e-commerce department launching this week

    Lotte prepare e-commerce department launching this week

    South Korean retailer Lotte will launch a new department in charge of the business group’s online businesses this week.

    The move is part of a plan to speed up efforts to cope with the rapid expansion of the country’s online market.

    Earlier in May, Lotte unveiled the plan to inject 3 trillion won (US$2.69 billion) into its e-commerce business over the next five years, integrating online malls that have been separately operated by its affiliates into one with an aim to generate 20 trillion won in sales by 2022.

    The new e-commerce department, set to launch Wednesday, August 1, will be responsible for a new platform that encompasses seven of the business group’s retail subsidiaries, including the department store business and discount store chain.

    With some 1400 employees, the new branch aims to roll out a mobile app in 2020 and plans to hire 400 additional workers by next year.

    “The new app will become a platform that provides optimised services based on our massive customer data,” Kim Kyoung-ho, who will lead the new organisation, said, noting that nearly 22 million customers are using Lotte online every month.

    Sales of 13 major online stores and marketplaces jumped 17.2 per cent on-year in May, according to government data.

    Online malls reported a 21.3 per cent spike in sales as more people opted to do their grocery shopping online. Online marketplaces, where product or service information is provided by multiple third parties, reported a 12.4 per cent surge in sales.

    Meanwhile, Lotte Duty Free, the conglomerate’s duty-free unit, said it will ramp up marketing efforts for its online, downtown and overseas businesses, as part of its operations at Incheon International Airport, west of Seoul, will be shut down at 8pm tomorrow night.

    The duty-free operator decided to return three of its four money-losing concessions at the country’s main gateway in February. The zones were reorganised into two and went to Shinsegae DF in the follow-up bidding last month.

    Lotte said it expects to save up to 1.4 trillion won of rent by 2020 following the closure of the airport duty-free business.

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  • New Bike-Sharing Service Set to Help Jakarta Combat Air Pollution, Bad Traffic

    New Bike-Sharing Service Set to Help Jakarta Combat Air Pollution, Bad Traffic

    Surya Teknologi Perkasa, a subsidiary of digital self-service kiosk operator M Cash Integrasi, has introduced an online-based bicycle-sharing service dubbed Gowes, aimed at providing an emission-free transportation alternative to help Jakarta combat air pollution and traffic congestion.

    Bicycle sharing is still relatively new business in the capital, where motorcycle ride-hailing services such as Go-Jek Indonesia and Grab have been dominating over the past few years.

    Jakarta Deputy Governor Sandiaga Uno, who attended the inauguration event at the National Monument (Monas) in Central Jakarta on Friday (27/07), said there will be a three-month trial of the bicycle-sharing service, during which time people will be allowed to ride for free in the Monas area. This will be done to test demand for the new service.

    The trial will take place in collaboration with the Jakarta provincial government and the Institute for Transportation and Development Policy.

    “We are pleased with the trial. We expect support from the government and all parties to make bicycles Jakarta residents’ preferred option for short-term transportation as it reduces air and noise pollution, while also being affordable and safe for all ages,” Surya Teknologi Perkasa president director Iwan Suryaputra said in a statement.

    He said the company will continue to support the government’s efforts to reduce carbon emissions and mitigate traffic congestion in the capital through the bike-sharing system.

    Jakarta is consistently among the top-10 most polluted cities in the world, according to data provided by air quality monitoring app AirVisual.

    A study by US-based research company Inrix has shown that Jakarta is the 17th most congested city in the world after Bangkok and Russia’s Kansk, noting that its residents spend on average 63 hours in congestion per year.

    Gowes, which means “to paddle,” in Indonesian, is already available in Bintaro, Banten and several locations in Bali. Equipped with tracking devices, users do not need to return the bicycles to their original location after use. Instead, they can park it anywhere with Gowes’s operational area.

    The Gowes smartphone application also offers other digital products and services, such as internet data packages, phone credit and more, similar to those offered by Go-Jek. The services are also in line with the parent company M Cash’s core business.

    M Cash was the second digital startup to list on the Indonesia Stock Exchange (IDX). It raised Rp 300 billion ($21 million) in October last year from the sale of 25 percent of its enlarged capital. Since then, the company has acquired mobile wallet service provider Matchmove Indonesia and cloud-based digital advertising firm Digital Marketing Indonesia.

    M Cash reported net income of Rp 45 billion in the first half of this year, compared with Rp 3.8 billion in the corresponding period last year.

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  • McDonald’s growth in second quarter is not “satisfying”

    McDonald’s growth in second quarter is not “satisfying”

    McDonald’s Corporation has announced results for its second quarter, seeing consolidated revenues decrease by 12 per cent, pinned on the impact of the company’s strategic refranchising initiative.

    Little mention was made of McDonald’s Asian performance for the quarter, other than an acknowledgement of undefined “continued challenges” in South Korea.

    The fast-food giant found system wide sales increased by 5 per cent, while global comparable sales increased by 4 per cent, reflecting positive comparable sales in all segments.

    “We’re seeing good performance across our business as our customers tell us that they value and appreciate the moves we’re making to elevate the McDonald’s experience,” said McDonald’s president and CEO Steve Easterbrook.

    “We’ve now marked 12 consecutive quarters of positive comparable sales, and we are confident that we’re executing the right strategy to achieve long-term, profitable growth.”

    Comparable sales for the International Lead segment segment increased 4.9 per cent for the quarter, while operating income increased 15 per cent, primarily driven by progress in the UK and France, while comparable sales in the US increased 2.6 per cent.

    Neil Saunders, managing director of GlobalData Retail, notes that although revenue growth has softened over the past year this quarters results represent a positive outcome for the restaurant company; suggesting growth in the US and beyond.

    “Part of McDonald’s success comes from the fact it is attracting a wider mix of customers into its restaurants,” said Saunders.

    “This is, in large part, a consequence of the modernization program the company has been undertaking. With around 1,000 restaurants refurbished each quarter, there has been a positive step change in customer perception, especially among older consumer segments.

    According to Saunders, these changes have been cemented by initiatives to improve quality, such as the use of fresh rather than frozen beef; leading McDonald’s to become a destination more diners are prepared to visit and linger in.

    “McDonald’s will come up against some tough prior year comparatives,” notes Saunders, “[which] means growth continues to soften. However, so long as menu innovation continues, we believe the chain will continue to be a winner in the fast food space.”

    Not all is well at the restaurant chain, however, with a pair of McDonald’s workers taking it upon themselves to restrain, and attack, a customer who attempted to fill a water cup with soda, and then provoked the employees when they turned off the machine to prevent it.

    A video of the altercation was posted to social media, with many fearing for the employee’s jobs after the way they reacted to the customer’s provocations.

    The company has yet to release a statement regarding the incident.

  • IKEA to open third outlet in Korea

    IKEA to open third outlet in Korea

    Swedish furniture giant IKEA will open its third store in South Korea in Giheung-gu, Yongin to make its products more accessible to customers in the Southern metropolitan area.

    IKEA Korea held the groundbreaking ceremony for the new outlet on 25 July in Giheung-gu, Yongin, 34 kilometers Southeast of Seoul. The retail space  of 91,000 square meters includes parking space, with different floors. It is expected to be completed in late 2019.

    IKEA opened its first Korean store in Gwangmyeong, Gyeonggi Province in 2014 and its second store in Goyang three years later. The Gwangmyeong branch is situated west of Seoul while the Goyang branch is located in the north.

    “We are looking forward to meeting customers in the Southern area through our Giheung branch,” said an official from IKEA Korea. “As a multi-channel retailer, we will continue to expand our reach and improve the shopping experience for our customers so that more people can furnish their homes with IKEA products.”

    IKEA Korea employed 700 new staff last year and was named one of the top hiring companies in 2018 by the Ministry of Employment and Labor.

    In the fiscal year ended August 2017, the retailer raked in sales of 365 billion won (US$326.1 million), up 6 percent from a year earlier, and drew more than 6.5 million visitors. When including the sales of its second store which opened last October, its sales and visitor tally are expected to double in 2018.

    The Swedish furniture giant runs 355 stores in 29 countries. Its total sales last year in the global market rose 3.5 percent from the previous year to 34.1 billion euros.

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  • Nike x Top Dawg Launches Official Capsule Collection

    Nike x Top Dawg Launches Official Capsule Collection

    Nike and Top Dawg Entertainment are hosting a pop-up shop in Tokyo this weekend ahead of Kendrick Lamar’s Fuji Rock Festival performance.

    To mark the occasion, Japanese clothing brand Undercover has partnered with rapper “DNA” for the release of an exclusive special collaboration capsule.

    The Damn. pop-up shop will feature a number of garments and accessories themed after K. Dot’s latest release.

    One of the capsule’s items has been previewed on Instagram, which unveiled a black T-shirt with “Damn.” written across the front chest.

    The Damn pop-up shop is set to take place at NikeLab’s MA5 location in Tokyo.

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  • Hanoi to go modern, install 1,000 public vending machines

    Hanoi to go modern, install 1,000 public vending machines

    Recently the city people’s committee approved the installation of around 1,000 vending machines in public locations under its own supervision.

    They are expected to provide a wide variety of beverages, snacks and fresh fruits besides customer assistance, especially to seniors, children and disabled people.

    The locations include parks, botanical gardens, hospitals, schools, and train and bus stations, which meet the space requirement of 2-3 square meters.

    They will be located at 500-1,000 metres away from each other with a maximum of four installed in close proximity if the specific needs of an area so demands.

    Thong Nhat Park (Lenin Park) will have the largest number — 10.

    The machines will be capable of returning correct change to customers besides also accepting other payment methods such as cards and QR codes.

    The people’s committee said the objective is to modernize retail sales in the city.

    There are now 161 public vending machines in the capital.

  • Off-White to open more stores in Seoul

    Off-White to open more stores in Seoul

    Fashion retailer Off-White has opened two more retail locations in Seoul.

    The standalone Off-White South Korea store in Cheondong is made with light brick with glass inlays, giving pedestrians a view into the store’s floor and displays of sneakers, accessories and other apparel. The second Miles Davis-inspired store in Hyundai Coex is blue-toned with wireframe furniture at its centre.

    Both of the new Off-White South Korea stores feature similar marbled interiors as seen in the brand’s recently opened Macau store.

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  • Kia Motors says strong won hit its bottom line in Q2

    Kia Motors says strong won hit its bottom line in Q2

    Kia Motors said Friday that its second-quarter net profit fell 15 percent from a year earlier on a strong won and increased incentives to cut inventories.

    Net profit for the three months that ended on June 30 fell to 331.8 billion won from 389.6 billion won a year earlier, the company said in a statement.

    “The won rose sharply against the dollar. And the company spent more incentives in the U.S. market to reduce local inventories [of sedans],” the statement said.

    The dollar fell to an average of 1,078.57 won in the second quarter from 1,129.43 won a year earlier, according to the Bank of Korea.

    Operating profit declined 13 percent to 352.6 billion won in the June quarter from 404 billion won a year ago. Sales rose 3.5 percent to 14.06 trillion won from 13.58 trillion won during the same period.

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  • JLO’s capsule collection cosmetic range with Inglot now in India

    JLO’s capsule collection cosmetic range with Inglot now in India

    Jennifer Lopez’s capsule collection cosmetic that she has made for brand Inglot Cosmetics is now available in India and the singer-actress says the entire range is filled with all her go-to products in her favourite colours.

    The 70-piece collection ranges from powders to lipsticks, eye shadows and mascara to eyelashes, nail enamels and cosmetic palettes.

    “The capsule collection we created with Inglot is filled with all my go-to products in my favorite colors. We have everything from mascara, lipsticks, eyelashes, blush, eye shadow and of course…bronzers.”

    “What I think is unique and exciting is our Freedom System Palette-which allows you to create your own personalized palette with the specific colors and products that you need. Now you no longer have to buy that 5-piece eyeshadow kit to get the one color you really want,” Lopez said in a statement.

    The expertly formulated products range in shades from nude to glow and add a touch of smoky glam! The products in the collection include eyeshadows, eyeliners, eyelashes, nail enamels, highlighters, bronzers, blushes, powders and matte and gloss lipsticks.

    Commenting on the association, Tushar Ved, President, Major Brands (INDIA) Pvt. Ltd. said, “Jennifer Lopez is an icon for women all over the world. With her sense of style and expertise on beauty, she remains the apt choice for Inglot to connect with its consumers. We are positive, our Indian customers will take great affinity towards the new collection considering her connect with Indian audiences as well.”

    Roy N Subramoney, Managing Director, Inglot Cosmetics, APAC & Middle East added, “It is our privilege and pleasure to collaborate with a style icon like Jennifer Lopez to launch this special collection. With the perfect formulation and products across categories, this special JLO capsule collection offers our Indian consumers the opportunity to achieve Jennifer’s authentic JLO glow.”

    The capsule collection is now available across Inglot stores in India.

  • Vincom Centre Landmark 81 launched

    Vincom Centre Landmark 81 launched

    Vingroup has opened its 55th shopping centre, The Vincom Center Landmark 81 mall, in Ho Chi Minh City’s Binh Thanh district.

    The 50,000sqm shopping centre occupies six of the skyscraper’s 81 storeys, housing 100 domestic and international brands in cosmetics, fashion, F&B, and entertainment.

    Fashion brands include Versace Jeans, Calvin Klein, Adidas, Tommy Hilfiger, Lacoste, French Connection, Kimmay, Superdry, H:Connect; Cole Haan, Ecco, Dune London, Parfois, Aldo, Pandora, Longines, OWL and Nike.

    The 7000sqm food and beverage area features 30 restaurants, including China’s Peach Garden, Japan’s Dozo Sushi, Vietnamese restaurants Delights, Di Mai, and coffee shops including Starbucks’ largest Vietnam outlet and Highlands Coffee.

    In the entertainment area, there is a 2000sqm Vincom Ice Rink, Vietnam’s largest, and a CGV cinema complex including an Imax screen, as well as a tiNiWorld entertainment complex and an indoor games centre.

    Vingroup’s food arm VinMart operates a supermarket there.

    Go to gallery below to view the launching event :
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  • Half of smartphones sold in 2018 will have AI assistant

    Half of smartphones sold in 2018 will have AI assistant

    Half of smartphones sold globally this year will have an artificial intelligence (AI) assistant, a report by an industry consulting firm showed Sunday.

    According to Strategy Analytics (SA), 47.7 percent of smartphones sold on the global market in 2018 will be equipped with some kind of on-device AI assistant, up from 36.6 percent last year.

    The report further finds that on-device AI is growing fast among smartphone vendors and by 2023, 89.9 percent of smartphones will have a built-in AI assistant.

    In 2017, Google Assistant rose to be the top AI assistant with a 46.7 percent market share, followed by Apple’s Siri with 40.1 percent, it said.

    The report said the market share of Google’s AI assistant is expected to climb to 51.3 percent this year and 60.6 percent by 2023.

  • Owndays and Bluebell Group to open HK store in partnership

    Owndays and Bluebell Group to open HK store in partnership

    Japanese fast-fashion eyewear retailer Owndays is to launch in Hong Kong with local partner Bluebell.

    The first two Owndays Hong Kong stores will open at the end of this month in East Point City in Tseung Kwan O, and Tuen Mun Town Plaza in the Northwest New Territories.

    Hong Kong marks the 11th international market for the company. In Asia-Pacific it has already launched in Singapore, Taiwan, Thailand, Vietnam, the Philippines, Australia, Malaysia and Indonesia. It has more than 120 stores in Japan and sells more than 2 million pairs of glasses annually.

    Owndays’ business model is based on fixed pricing, fast service, a fast-fashion approach to frame design and a complete process from design to after-sales service. In each market, customers are promised that all frames are sold between upper and lower price-points – including an eye test and lenses – and that the glasses will be ready within 20 minutes (with a limited number of exceptions).

    The only part of the process Owndays does not control itself is the lenses, which are sourced from third-party suppliers. The retailer offers progressive, polarised, transitional, coloured and PC lenses.

    More Owndays Hong Kong stores are planned.

  • Numero Uno India takes sustainable fashion a notch higher with One Glass Water Denims

    Numero Uno India takes sustainable fashion a notch higher with One Glass Water Denims

    Numero Uno, one of India’s first indigenously manufactured denim labels, has always been a strong believer of sustainable fashion. Adding to their commitment towards the global green movement, the brand has recently launched its one glass water denim collection.

    Traditionally, a pair of jeans requires 70 liters of water to complete the washing and finishing process but Numero Uno, through its new sustainable process and improvised technology, has managed to reduce the water and chemical consumption drastically by using one glass of water to create one  pair of jeans.

    Numero Uno adopted this technology as an answer to the environmental issues that are being faced today thus representing a new era in the industry where environment protection and worker well-being play a key role.

    Narinder Singh, CMD, Numero Uno says “We believe that we can create attractive looking denims & protect our natural resources at the same time. This collection is actually an initiative towards revolutionizing the harmful impact of industrial wash processes of making jeans on our environment”

    Numero Uno prides itself on responsibly innovating and driving the transformation of the textile industry towards sustainability by launching their new range of jeans, One Glass Water Denims. The jeans are priced between Rs 1,899 to 2,499 per pair.

    Numero Uno, one of India’s first indigenously manufactured denim labels, was incorporated in 1987 by Hi Fashion Clothing Co., the Flagship brand of Numero Uno Clothing Ltd.

    Over the years, Numero Uno Jeanswear has transformed into a dynamic and perceptive label for the youth. Today, it has the privilege of being one of the few power brands that fuses international trends, innovative fabrics, washes, treatments and accessible pricing.

     

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  • Axiata to book non-cash loss on Idea Cellular-Vodafone Idea merger

    Axiata to book non-cash loss on Idea Cellular-Vodafone Idea merger

    Axiata Group said it is likely to book a RM1.5 billion to RM3 billion non-cash financial loss from the merger of 16.33% owned Idea Cellular and Vodafone Idea Ltd, which will make it the largest carrier in India by subscribers and revenue market share.

    Together, Axiata Group said in a statement, Vodafone Idea will serve a customer base of 440 million, representing 39% of the total market share while its revenue market share is estimated to be at 37.5%. Its revenue is forecasted to be in excess of US$10 billion (RM40.6 billion).

    The group said, the non-cash financial loss is due to applicable accounting standards from the dilution of Axiata Group’s shareholding in the merged enlarged Idea-Vodafone entity from 16.33% to 8.17%, upon completion of the merger which will result in the loss of certain shareholder’s rights as provided under the subscription agreement dated June 25, 2008 between, inter-alia, Axiata Group and Idea in relation to subscription by Axiata Group of shares in Idea.

    The estimated loss above is expected to have a material impact on the financial quarter ended June 30, 2018. The actual impact on de-recognition from the reclassification of Idea will be provided upon completion of the merger. Being a non-cash item, the financial impact above will have no bearing to Axiata Group’s current or future cash position.

    In a separate statement issued last Friday, the group said its cash balance is strong at RM5.7 billion as of end March 2018 with debts well within covenant and will not be a factor to impact Axiata’s dividend policy and payment for 2018.