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Tag: asia

  • Grab Aims to Dominate Indonesian Market With Open Platform Strategy

    Grab Aims to Dominate Indonesian Market With Open Platform Strategy

    Ride-hailing company Grab has launched GrabPlatform and GrabFresh to tap further into the Indonesian market, its representatives said on Tuesday (10/07).

    Grab is going to upgrade its app to focus on people’s daily needs and make it become an everyday superapp.

    For this purpose it just launched GrabPlatform, a new interface which provides transportation, news, e-commerce and food delivery services. The food feature, GrabFresh, is operated by HappyFresh, Southeast Asia’s leading online grocery shopping company.

    Now the company is testing the news feed feature, which is intended to engage users more while they are using the company’s ride-hailing services.

    “Partnering strategy, or we call it open platform strategy, has been favored by us to offer more to customers. It has been proved very effective in boosting our business” said Grab co-founder and chief executive Anthony Tan said on Tuesday.

    In 2017, Grab acquired Kudo, Indonesia’s leading online-to-offline payment service, which according to Tan has been very helpful for the company’s expansion.

    “After partnering with Kudo, we’ve grown tremendously across cities in Indonesia. And then with OVO, who is the country’s leading e-wallet. We recognize that we can’t be the best in everything, so we find the best partners. Kudo was the best agent network, OVO is the best e-wallet and TPI [ride-hailing service Teknologi Pengangkutan Indonesia] is one of the best rental partners,” he said.

    “If it wasn’t for Kudo, we could not have grown in Indonesia that fast. We went operational from 20 cities to over 100 cities in Indonesia, because of Kudo.”

    The region’s leading ride-hailing app is facing rivalry from local competitor Go-Jek, which in May announced expansion to Singapore, the Philippines, Thailand and Vietnam.

    According to App Annie, Go-Jek was leading in Indonesia, recording 15 million active users every week last year, much better than Grab with 2.5 million users.

    In March, Grab merged with ride-hailing giant Uber for the latter’s Southeast Asian operations.

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  • H&M’s Nyden founder leaves

    H&M’s Nyden founder leaves

    Oscar Olsson, managing director of Nyden, H&M‘s latest brand start-up, is leaving the organisation to pursue other projects, according to the Business of Fashion.

    As confirmed by Olsson’s LinkedIn profile, the entrepreneur has moved on from the Millennial-targeted venture, putting the strategy and future of the Swedish project in serious doubt.

    Despite Olsson being the central person of Nyden, it is understood that the existing leadership team will assume his duties until a replacement is found.

    Olsson started his journey with H&M in 2013, serving as Global Controller. Soon after, he became Head of Expansion in Switzerland for the Swedish group, before taking charge of the group’s expansion for the region comprising France, the Netherlands, Austria, Belgium and Switzerland.

    In January 2017, he created and directed H&M’s innovation lab, which grew in the summer of 2017 to become Nyden. In April 2018, Nyden released its first capsule line. The collection was made up of a series of five t-shirts for women and four for men.

    Self-described as “not a traditional fashion brand,” Nyden avoids dropping seasonal collections but instead enlists the creative talents of ‘co-creators’ to develop capsule collections for its customers.

    Four celeb collaborators already tapped by Nyden include Justine Skye, Dua Lupa, Dr Woo and Jerome Boateng. According Nyden’s website, there remain three more big-name collaborators “to be announced.”

    Nyden’s collections are all designed from its Los Angeles studio.

    For the six months ending May 31, H&M group, which also operates Monki, Cheap Monday and & Other Stories, said sales including VAT were SEK 114.017 billion (US$13.11 billion), up from SEK113.907 billion a year earlier.

    The group did not disclose sales figures for its individual brands.

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  • Michael Kors Launches Graffiti Capsule

    Michael Kors Launches Graffiti Capsule

    Accessories and apparel designer Michael Kors has released a new limited-edition graffiti capsule of jackets, shoes and bags, taking inspiration from the street art of Eighties-era New York City.

    The Michael Kors graffiti collection launch has been marked by an elaborate window display installation created by two fashion professionals who lived in New York during the period. The displays will appear in the Michael Kors stores at Mandarin Gallery in Singapore, the Jing’An Kerry Centre in Shanghai, and in Ginza, Japan following exhibitions in New York, London and Milan.

    The displays are the result of a collaboration between Candy Pratts Price and hair stylist Christiaan, both iconic figures of their generation. They feature a floor-to-ceiling screen print of Kors in his aviators, as well as rotating mannequins in selfie-snapping poses wearing the graffiti merchandise and sculptural wigs.

  • Malaysia 2011 furniture exports may rise to USD2.8b

    Malaysia 2011 furniture exports may rise to USD2.8b

    Malaysia’s 2011 furniture exports are likely to improve by 9 percent to MYR8.7 billion (USD2.84 billion), provided the US dollar stabilises at the current level and manufacturers are able to secure enough foreign workers at their factories.

    Malaysian Furniture Industry Council president Richard Lee said there was growing demand for Malaysian-made furniture from the US and Australia, especially now as American consumer spending is showing signs of recovery and Australians need to refurbish their homes after the big flood.

    Traditional markets like the US and Europe tend to favour Malaysia over low-cost producers like China and Vietnam due to better quality control and reliable after-sales services.

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  • LEGO sheds premium tag to become a mass player in India

    LEGO sheds premium tag to become a mass player in India

    Danish toy brand Lego is shedding its premium strategy to position itself as a mass-market brand in India.

    Following an increased focus on Asia during the past two years, Lego is seeking to expand its consumer base in India by bringing products in the price band of INR500 to 5000 (US$7.30 to $73) to the emerging market. It could also bring the Lego Certified Store format into the country by 2022.

    Lego’s senior regional sales manager for South Asia Amit Kararia said: “In India, Lego was perceived to be a premium brand. But since the past two years, we have been working on going mass and expanding our consumer base.

    “E-commerce has also emerged as an important sales channel for us with nearly 25 per cent of our sales coming from this channel. It also helps us reach out to consumers where we are not present through physical stores,” Kararia added.

    With the expansion of toy-specialist stores and department stores in India, the company is hoping to expand its presence in major and second tier cities, expanding from 40 to 60 cities in the foreseeable future. It is also hoping to see double-digit growth in the market, which has the largest number of children aged under 13 years.

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  • US-China Trade War Will Affect Indonesia Regional Economies

    US-China Trade War Will Affect Indonesia Regional Economies

    Regional economies in Indonesia will be affected if the United States suspends its special tariffs for some of the country’s exports, a minister said on Tuesday (10/07).

    The US is currently reviewing Indonesian products on its Generalized System of Preferences (GSP) list — a trade incentive that gives duty-free entry to 129 poor and developing countries and territories.

    Last year, Indonesia ran a $9.7 billion trade surplus out of its total $17 billion exports to the US.

    It is the fourth biggest GSP beneficiary, after India, Thailand and Brazil.

    “If the exports of [the listed] products or commodities are disrupted, we are worried that our regional economies, where the goods come from, will also be affected,” National Development Planning Minister Bambang Brodjonegoro said on Tuesday.

    Indonesia’s exports, not only to the US, come mostly from the manufacturing sector, especially in Java.

    Last year, they made up 76 percent of the country’s total exports and were worth $125 billion, nearly $15 billion more than in the previous year.

    West Java and East Java together were the main contributors ($44 billion) to the country’s total experts, followed by East Kalimantan, Riau, Riau Islands and North Sumatra.

    “We can divert our exports to other countries and this should not be a problem. But we need to prepare ourselves,” Bambang said.

    Indonesia has been trying to enter markets in Africa and South America to lessen dependence on its traditional importers such as China, the US and Japan.

    However, exports to Africa (mainly South Africa and Egypt) amounted to only $264.7 million last year, Ministry of Trade data show.

    A team consisting of Ministry of Trade, Ministry of Foreign Affairs and Ministry of Agriculture officials is set to visit the US at the end of July, with a lobby mission to keep the special tariffs for Indonesia unchanged.

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  • Zozo unveils body measurement suit for perfect-fit clothes online

    Zozo unveils body measurement suit for perfect-fit clothes online

    Japanese online fashion retailer Zozo is expanding its offer of tailor-fitted clothing with skin-tight bodysuits that help users upload their measurements online.

    Called the Zozosuit, the garment is covered in polka dots reminiscent of motion-capture leotards. Shoppers don the suit and photograph themselves wearing it, uploading the picture via a smartphone app for Zozo’s software to calculate their exact body shape.

    Zozo, which sells clothes from other brands, envisages bespoke items as being the way forward for online fashions. The platform has already added business suits and formal shirts to its range, which can be tailored to fit customers based on Zozosuit data.

    Zozo CEO Yusaku Maezawa said: “The time where people adapt to clothing is over. This is a new era where clothes adapt to people.”

    The move coincides with Zozo’s potential partnership with clothing manufacturer Shima Seiki, whose whole-garment knit-on-demand technologies can produce seamless items of clothing to order. The firm is also making efforts to expand its business in other countries.

    The company will ship 1 million Zozosuits to customers within the next fortnight.

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  • Pomelo Fashion to open first-ever physical store

    Pomelo Fashion to open first-ever physical store

    Thai online fashion retailer Pomelo Fashion will open its first physical store location outside of Bangkok, as it seeks to expand its online-to-offline business model in Southeast Asia.

    Marking the JD.com-backed company’s online-to-offline commerce international debut, Pomelo will open a micro-retail store in Singapore. The company has previously operated a pop-up store in the city and is now looking for a space to open its first permanent site there. Exact details have not been given.

    The move means Pomelo shoppers will be able continue to browse online and send their top choices to the physical store to try on, before purchasing, significantly cutting down on the number of returns.

    In addition, the smaller retail space means the cost of rent in high-profile shopping districts is reduced. And without stocking all the products known to Pomelo online, the retailer avoids cannibalising its online sales with offline stores.

    “Discovery for fashion is going online, where you’re not constrained by having to display the entire catalogue,” David Jou, Pomelo co-founder and CEO, said last month.

    “But e-commerce for fashion is plagued by the problem of returns because the clothes don’t fit or they don’t look good. Having the online-to-offline model cuts down returns because the consumer only buys what they have tried on.”

    The micro-site is the firs international one for Pomelo, after opening its first two in Bangkok, one at Interchange 21 at Asok and the other at All Seasons Place in the central business district. The company said it has identified 800 locations for potential micro-retail sites in Thailand.

    Chinese e-commerce operator JD.com led a US$19 million investment round last year into Pomelo, which also counts investors like 500 Startups, Hong Leong Group and Jungle Ventures.

    Founded in 2013 by David Jou – the former managing director of Lazada Thailand – Pomelo Fashion delivers to over 50 countries globally from its studios in Bangkok.

  • DIP clothing by US’s Kroger launched

    DIP clothing by US’s Kroger launched

    US supermarket giant Kroger is to roll out a new apparel label, called Dip.

    The new brand will be sold through stores-in-stores in about 300 Fred Meyer and Kroger Marketplace stores across the US, a fraction of its 2779-strong network.

    The company released an artist’s impression of how the Dip space will look, (above). It will replace more than a dozen of the company’s private-label clothing brands.

    Kroger has tapped fashion designer Joe Mimran to create what it bills as “a new and exciting apparel brand” and which will launch with men’s, women’s, juniors, kids, and baby collections.

    Mimran previously launched Club Monaco, Joe Fresh and Pink Tartan during a 30-year career in fashion design. His brief was to develop a clothing line for Kroger which “makes effortless style easy and affordable to achieve”.

    “We’ve worked closely with Joe and his team to develop a line of clothing that works for today’s times – easy to buy, easy to wear, and easy to love,” said Robert Clark, Kroger’s senior VP of merchandising. “Effortless style, every day of the week.”

    “Style should be fun,” said Mimran. “We believe good design can be affordable. It should fit into your life, not the other way around.”

    Mimran says the name Dip was chosen after looking at Kroger’s heritage in food. “We thought about the fun, easy energy of the clothes. We thought about what makes every gathering better. And it just kind of clicked – Dip.”

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  • Indonesia Tests Rice Farming ‘Digitalization’ Program to Boost Output

    Indonesia Tests Rice Farming ‘Digitalization’ Program to Boost Output

    The Indonesian government has launched a farming “digitization” project in West Java province, which may increase rice output by at least 20 percent, officials said on Monday (09/07).

    The project is currently being tested with thousands of farmers in nine rice-producing regencies as President Joko “Jokowi” Widodo’s administration seeks to boost domestic food production. A regency is a governmental administration region below a province.

    “The goal is to transform farming, which is still quite traditional, to be more modern and to teach farmers to be agro-entrepreneurs,” Wahyu Kuncoro, a deputy minister at the Ministry of State Enterprises said.

    Indonesia’s rice output growth has been slowing in recent years and yields have declined to 5.15 tons of unmilled rice per hectare in 2017, from 5.34 tons per hectare in 2015.

    This year, the government issued import permits for 1 million tons of rice to help control rice prices, the country’s main food staple.

    State-controlled telecommunications firm Telekomunikasi Indonesia, or Telkom, has developed a digital platform which collects farmer and farm land data which will be used to speed up the process of distribution of subsidized loans for farmers and for applications for farm insurance. Digitalization refers to using digital technologies to change the way a business functions.

    The platform will be further developed to include a marketplace application where farmers can order fertilizer and pesticides online, as well as sell their products, said David Bangun, a director at Telkom.

    The Ministry of State Enterprises has also set up offices in the nine regencies to train farmers in modern farming methods, as well as to facilitate the direct distribution of farming supplies and sales to state food procurement agency, Bulog.

    When enough data has been collected, the digital platform can also help to predict future output, David added.

    “If this model is proven beneficial for the farmers, we will apply this to other rice production centers across the country,” Kuncoro said, adding that the project may also be applicable to the cultivation of other commodities.

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  • Lotte Mart’s ‘Be Goods by Busan’ in Vietnam

    Lotte Mart’s ‘Be Goods by Busan’ in Vietnam

    Lotte Mart Vietnam will promote products from South Korean SMEs in its Go Vap outlet in Ho Chi Minh City.

    The retailer will add a special sales zone called Be Goods by Busan, to sell 70 products from 13 companies based in Busan.

    Lotte has selected products including fruit and vegetable drinks, frying pans and shampoos, items it believes will appeal to local Vietnamese consumers. More items are to follow.

    The retailer is also planning to provide online and offline marketing support for the products.

    This is the second time Lotte Mart has opened a Be Goods store.

    Last October, Lotte Mart Nguyen Van Linh hosted 196 products of 23 Korean SMEs, and earned 240 million won (US$215,827) in sales over seven months.

    Vietnam is Korea’s third largest export market and Lotte Mart believes it is the best place for Korean SMEs to test and export their products.

    Last month, another Korean retailer E-Mart also promoted Korean SME’s products in Singapore.

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  • Why Bitcoin Mining Is A Vital Aspect Of This Popular Cryptocurrency?

    Why Bitcoin Mining Is A Vital Aspect Of This Popular Cryptocurrency?

    Many people have heard about the term Bitcoin floating around, but fail to understand properly what it is. This article looks at what Bitcoin is, and dissects one of the most important processes associated with this cryptocurrency – Bitcoin mining.

    Bitcoin – A Brief Introduction

    Bitcoin is a form of digital currency, or a cryptocurrency. Bitcoin is unlike traditional currency as it has no physical tokens or coinage, and there is also no centralized control in the way that banks or the government dictate the exchange rates of dollars – although it is possible to exchange Bitcoin for physical currency and vice versa. Bitcoin uses blockchain technology where transaction data is stored on a public ledger visible to everyone. This helps improve security as Bitcoin transactions are encrypted as a further safety measure.

    Bitcoin was first developed and released in 2009, and since then the volume of Bitcoin circulating in the world has risen to huge levels. This is undoubtedly the most popular and widely known cryptocurrency available, and it is the digital currency that is most accepted as a form of payment in business.

    Bitcoin Mining – The Integral Cog Of This Cryptocurrency

    With traditional money, new currency such as banknotes and coins are simply produced by the government. This creation is regulated to avoid hyperinflation and the money is circulated into public use through various avenues.

    The creation of Bitcoin currency, however, is completely different and uses a process known as mining. Bitcoins are effectively created as a reward from the mining process. This mining process is based on what is known as the Bitcoin protocol. It states that a total of 21 million bitcoins will exist at some point in the future. Bitcoin mining effectively brings these potential bitcoins into existence and thus fills the quota.

    The actual mining process involves adding new transactional data to the Bitcoin blockchain ledger. In essence, the Bitcoin miners are enabling the bitcoin system to work by facilitating transactions. As a reward, they are granted Bitcoins. Whilst this may sound like an attractive and lucrative way to make some money and get involved in the Bitcoin phenomenon, there are several drawbacks to consider:

    – The mining process requires a powerful computer with large storage capacity

    – The mining process also uses a great deal of electricity

    – There are many other miners to compete against for the available Bitcoins

    – The mining rewards will slowly decrease as the number of Bitcoins in circulation increases

    As you can see, it is not just a simple case of setting a computer up and downloading the mining software! As Bitcoin starts to become more popular and talked about in the general public, the negative aspects of the mining process are also starting to rear their heads. More people are realizing about the huge power consumption required and the negative impact this is having on our environment.

    The consoling fact, however, is that eventually there will be no need for mining. Once all of the 21 million Bitcoins are mined, this operation will no longer have any value or requirement.

    Article and infographic created by the crypto specialists over at BTXchange.io.

     

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  • DHL to build Global Center of Excellence in Iskandar Malaysia

    DHL to build Global Center of Excellence in Iskandar Malaysia

    DHL has announced the set-up of a Global Center of Excellence (GCOE) in Iskandar Malaysia — its first in the country. The Center will provide supply chain consultancy services, and support businesses to design logistics solutions specific to some of Iskandar’s key industries including Automotive, Energy, Engineering & Manufacturing, Life Sciences & Healthcare and Technology. DHL is establishing the GCOE in conjunction with Iskandar Innovations Sdn Bhd, a wholly-owned subsidiary of Iskandar Investment Berhad.

    The GCOE Iskandar Malaysia is a collaboration between DHL and Iskandar Innovations Sdn Bhd, a wholly-owned subsidiary of Iskandar Investment Berhad.

    The GCOE will serve to connect companies with key stakeholders within Iskandar Malaysia and supports their vision to be the hub for Asia and global markets, and enhance its value proposition of connecting the region to the world’s major economies. The Center will also power the region’s logistics ambitions with networking sessions and workshops where companies and industry experts come together to share best practices, to brainstorm innovative ideas that will form the future of Iskandar Malaysia .

    “We want to create an ecosystem within Iskandar Malaysia and to establish a single network that is conducive to all companies to explore and set up business in the region as their gateway to markets around the world,” said Mr. Philip Chu, Managing Director, Global Center of Excellence Iskandar Malaysia. “C oupled with DHL’s sector-specific experience, it will underpin the bespoke logistics solutions that the GCOE will offer to the local industry.”
    “A strong base of logistics solutions and talent will not only allow the Iskandar region to achieve its ambitions of becoming an ASEAN supply chain hub, but also provide vital trade connectivity between its core industries and overseas markets where opportunities are aplenty,” said Datuk Ir. Khairil Anwar Ahmad, President and CEO, Iskandar Investment Berhad. “As Iskandar’s population and foreign investment levels continue to rise steadily,[1] the GCOE will play a strategic role in creating the job opportunities and export growth that underpin the region’s economic plans for the future.”

    “The establishment of the GCOE will bring Iskandar’s supply chain capabilities up to speed with those of other logistics hubs in the region, including nearby Singapore where DHL has already run a Supply Chain Center of Excellence for the last ten years,” said Mr. Alfred Goh, President, Global Fast Growing Enterprise and Regional Head, Customer Solutions and Innovation Asia Pacific, DHL. “As Malaysia’s broader economy grows in domestic demand and overseas exports alike,[2] Iskandar’s manufacturing and production industries will need increasingly efficient, flexible and scalable supply chains to power future economic development.”

    “By complementing pure logistics skills and solutions with broader business development, market insights, and networking with key decision-makers around the world, we believe the GCOE will help Iskandar align its logistics investments with global demand and market forces more closely than ever before.”

    In 2007, DHL established a similar Supply Chain Center of Excellence in neighboring Singapore that delivered multi-million-dollar returns within its first 36 months of operation.[3] The Iskandar GCOE will be operational in Q2 2018.

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  • Burger King Thailand sees space for expansion in the forecourt segment

    Burger King Thailand sees space for expansion in the forecourt segment

    Burger King Thailand is set to open around 15 stores per year over the next three years with gas stations a major focus.

    Of the 16 stores to be opened in the second half of 2018, ten locations with be drive-thrus at gas stations, with the company identifying this segment as a bigger spending market for customers in Thailand.

    “Customers at petrol stations spend one-and-a-half-times more than at original stores because we can stay open from breakfast until late at night, and not only at lunch and dinner time as is the case with retail complexes,” explained General manager Prapat Siangjan, according to Pulse News.

    The company plans to spend 375 million baht ($11.3mn) on new store openings this year.

    With 15 new more stores expected to open in 2019 and 2020, Burger King will expand its Thai network to 131 over the next three years.

  • Nova Wellness to benefit from R&D centre

    Nova Wellness to benefit from R&D centre

    Nova Wellness Group Bhd’s growth plans via its in-house research and development (R&D) centre and capacity expansion plans are viewed positively with the initial public offering (IPO) given a fair value of 61 sen a share by Inter-Pacific Research Sdn Bhd.

    The research firm noted its valuation — a 10.9% premium to the company’s IPO offer price of 55 sen — is based on financial year 2019 (FY19) forecast earnings per share of 4.7 sen pegged to 13 times priceearnings ratio.

    “The nutraceutical industry in Malaysia is forecast to grow with the backing of the increase in awareness and demand for preventive healthcare,” Inter-Pacific noted in a report.

    “In addition, Nova Wellness is also looking to expand its presence in the skincare products segment.”

    Nova Wellness, which is scheduled to be listed on July 20 on the ACE Market, is a nutraceutical and skincare goods developer and retailer who is also engaged as an original equipment manufacturer service provider for dietary supplements and functional food products.

    Inter-Pacific stated Nova Wellness’ in-house R&D facility in Sepang provides the group with the platform to expand its product range and improve on its existing products to meet market demand and customer requirements.

    “The group’s own production facility enables it to produce a range of nutraceutical products under their own house-brands and conform to the standards required by relevant authorities,” it said.

    This includes Good Manufacturing Practice (GMP)-compliance and halal certification, while the in-house production facility allows the group to control the entire production process to minimise unplanned interruptions.

    Nova Wellness plans to increase its production capacity for functional food and skincare products by acquiring new machinery with the IPO proceeds.

    The company intends to raise RM44.91 million from the issuance of 81.66 million new IPO shares, with 36.7% from the proceeds earmarked for the construction of the new GMP-compliant production facility and 25.8% allocated for R&D activities.

    To date, Nova Wellness has developed 49 dietary supplements, 11 functional food products and 28 skincare products for both domestic and international markets.

    Inter-Pacific said the company’s wide distribution network across Malaysia for house-brand products bodes well for the group’s competitiveness.

    “The group will thus be able to keep its competitiveness — especially vis-à-vis larger competitors who have a presence in the international market,” it said.

    There are reportedly 227 independent retail pharmacies in Malaysia that sells Nova Wellness’ house-brand products, of which 105 are Nova Wellness Partnership Programme (NWPP) partners.

    Nova Wellness’ proposed 30% dividend payout policy of annual audited profit, coupled with an experienced management team, is a further upside, according to Inter-Pacific.

    The investment risks faced by the company include dependency on major customers and NWPP partners, as well as risks stemming from unsuccessful pre-clinical and clinical trials.

    Its top three major customers contributed 10% of the group’s FY17 revenue, while NWPP partners made up 60.4% of group revenue that same year.

    On another note, unsuccessful trials of products will negatively affect the group’s competitiveness.

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