Retail News CRM

Tag: asia

  • Malaysia Airlines Q1 revenue up 2%, rising fuel prices a concern

    Malaysia Airlines Q1 revenue up 2%, rising fuel prices a concern

    Malaysia Airlines Berhad (MAB) reported a 2% year-on-year growth in revenue for the first quarter (Q1) ended March 31, 2018 with 6.6% yield improvement despite the significant competition in both international and domestic sectors.

    Despite improvements in the quarter, Malaysia Airlines Group CEO Izham Ismail said the airline is preparing itself for a tough year ahead with competition and exchange rate volatility.

    “Escalating fuel prices remain a particular concern, up almost 100% from early 2016.”

    Its revenue per available seat kilometre (RASK) also grew 3.5%, but load factor declined to 75.4% from 79.4% in the same quarter a year ago on the back of a moderation in domestic load factor due to its focus on higher yield passengers.

    A total of 3.2 million passengers were carried in Q1 2018, 11.1% lower than the 3.6 million achieved in Q1 2017.

    Izham said MAB continues to see better yield and RASK after a challenging 2017, which saw the adverse exchange rate swing.

    “Nevertheless, taken on aggregate, the company has made progress on the execution of the Malaysian Airlines Recovery Plan (MRP). This includes an improved cost base for the airline, bringing it in line with its peer network airlines.”

    Moving forward, he said the group will continue to drive yield by focusing on the premium segment to cushion the airline from rising costs.

    “Overall, we expect to see improvements in our performance in the later part of this year and against this backdrop, we are working hard to deliver sustained profitability in 2019.”

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  • The Artist House, Hong Kong’s newest lifestyle hub

    The Artist House, Hong Kong’s newest lifestyle hub

    Retail Mixer goes experiential at the Hong Kong’s newest lifestyle hub. Discover the new The Artist House and why it epitomizes retail experience.

    The premium segment of the beer industry is gaining tremendous interest across Asia with double digit annual growth thanks to urbanization and rise in disposable income, translating into a shift in consumer demand towards premium beers and unique consumer experiences.

    Catching momentum, in 2015, Olivier Gilson and Benjamin Cox, two cousins with a strong entrepreneurial, operational and financial expertise, launched The Artist, a premium craft beer company.

    The Artist has brought to Hong Kong a unique craft beer brewed in the main barn of a 14th century farm (1343) in the South of Belgium by a Belgian Master Brewer who was one of few brewers in the world to traditionally brew beer in an abbey alongside monks.

    Belgian style beers are recognized worldwide as symbol of quality and authenticity, and The Artist’s mission is to engage beer appreciators in a journey into the brewing tradition.

    Since 2015, The Artist been has been delighting craftsmen and women’s palates with a collection of craft beer including Blonde, IPA, White and Raspberry available in high-end F&B concepts in HK, corporate events, and launching parties, its own .com with customization options, and through a wholesale distribution in selected point of sales.

    In March 2018, Oliver and Benjamin embarked into a new adventure. They created The Artist House, a physical extension of 14th century farm (1343) in the South of Belgium, where the beer is brewed.

    The Artist House finds its home in Fashion Walk, Causeway Bay, Hong Kong. The softly-lit venue has a décor to impress with a stunning combination of light and dark wooden panels consistently echoed throughout the venue.

    The Artist House is an educational journey into brewery tradition built on sensorial experiences. The 3,800 sq.ft retail space is designed to bring the visitors into a craft beer world through a series of experiential touchpoints aimed to engage the 5 senses and create a learning experience and a memory as takeaway.

    The Artist House features a 8 meters bar, a coffee corner and a kitchen for the creation of menu for beer pairing. A built-in hydroponic farm is there to grow herbs, spices and edible flowers for beer infusions and craft beer cocktails.

    A micro-brewery to tailor make infused beer, edible perfume bar to pair unique fragrances with craft beers, a 360VR tour of the brewery in Belgium, the chance to personalize beer and gadgets, make The Artist House a unique retail space, which offer customer to take part into the artistic process of brewing beer.

    The Artist House believes that each individual is an artist. In the process of brewing beer, starting from the artisans who brew the beer, the buyers who curate the beers for a specific markets, the visual merchandiser who places them in a display, the bartender serving them, and finally the consumer, they all take part in this creative journey.

    Oliver and Benjamin strongly believe that “today’s consumers have the desire to live unique experiences rather than simply purchase goods”. As such, their key pillar is to constantly focus on innovation to offer customers unforgettable experiences.

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  • @Cosme arrives in Hong Kong

    @Cosme arrives in Hong Kong

     

    Japan-listed cosmetics review media and retail company Istyle Inc today opened its first cosmetics @cosme Store in Hong Kong.

    In Tsim Sha Tsui, the outlet offers Japanese cosmetic brands with rankings and testers for almost all products.

    Istyle executive officer Hajime Endo, who is also president of Istyle Retail (Hong Kong), says the Hong Kong store follows the model of Japanese stores with event and salon space allowing for makeup demonstrations and the opportunity for customers to meet with the brand owners.

    Founded in 1999, Istyle Inc owns the @cosme beauty portal sites and cosmetic stores. The first @cosme Store opened in Shinjuku, Tokyo, in 2007. Istyle Inc has 25 outlets in Japan and four outlets offshore. Its move into Hong Kong was made possible through Invest Hong Kong.

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  • Poundworld on the brink of collapse with 5,300 jobs at risk

    Poundworld on the brink of collapse with 5,300 jobs at risk

    UK discount retailer Poundworld is on the brink of collapse with an administrator about to be appointed following the collapse of talks with a potential angel investor.

    As reported, the company has filed a notice of intention to appoint an administrator, giving the company 10 business days protection from its creditors, and management time to finalise a restructuring plan to keep the 355-store chain trading.

    The UK financial press reports that Deloitte has been appointed to oversee the administration process and was already working on a plan as a contingency should a new owner not be found.

    Retail turnaround specialist Alteri Investors this week walked away from talks over taking over the ailing company leaving the owners with no other option than to commence administration procedures, given the business is running low on cash.

    Poundworld is owned by US private-equity company TPG Capital. Last financial year it lost £17.1 million, more than three times the loss of the prior year.

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  • New TWG Tea Leicester Square Boutique has more than 800 teas

    New TWG Tea Leicester Square Boutique has more than 800 teas

    TWG Tea has launched a London flagship in Leicester Square.

    Inside, the TWG flagship are tables laden with colourful cannisters of the company’s teas, including London Breakfast, Paris Breakfast (with candied spices), Russian Breakfast (Georgian smoky tea with bergamot); afternoon and evening blends like the Orient Express (black tea with wild berries) or Longevity tea, with white leaves; fun blends such as Silver Moon (green tea with berry and vanilla), Emerald River (green with Burma fruits) and the White House (with fruits and roses).

    There are also teas for the connoisseur: the rare first-flush and the white Darjeelings, Chinese Yellow teas, once a drink for emperors, the white Yin Zhen, and blue tea. Prices range up to £1300 for 100g. All up, there are about 800 teas in this branch. In the company’s other, smaller new shop on Brompton Road, opposite Harrods, there are 600.

    Tea can be imbibed from breakfast through to dinner in the tea-salon-cum-restaurant upstairs. This is a grand Chinese room, with tea-leaf shapes on the ceiling and red lacquer panelling. At the back, there is a museum of tea artefacts, from Russian samovars to old dragon-wreathed Chinese teapots and chests.

    As well as teas there are tea-flavoured biscuits and patisserie and ice cream. “We don’t want it just to be about afternoon tea,” says TWG co-founder Maranda Barnes. “We want it to be for every time of day, for everything you do. I was 18 before I started drinking tea. I have it with my girlfriends when I want to unwind, when I want to celebrate, when I want to get myself going. I want everyone to feel that there’s a tea for them. I don’t want it to be stuffy and intimidating.”

    Waiters recommend teas to go with the food, but there is also tea in the food … macha salt on the French fries, Sencha tea and popped rice on the butter and tea leaves in the bread, macha beurre blanc in the Norwegian salmon sauce and the Sakura! Sakura! Tea in the sorbet that goes with the Bain de Rose dessert.

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  • Vietnamese coffee prices keep dipping

    Vietnamese coffee prices keep dipping

    Coffee prices in the Central Highlands have been decreasing since the beginning of the year, and are not likely to recover any time soon, according to the Ministry of Agriculture and Rural Development.

    The price stands at VND35,100–35,500 ($1.55-1.56) per kilogram, down VND400–600 from the end of last year.

    This is the lowest price in the last two months and Vietnamese farmers are holding on to their stock without selling, a ministry report said.

    It attributed the price to favorable weather in Brazil, the world’s top coffee exporter; and the start of a new season in Indonesia, another major producer and exporter.

    With global supply remaining high, a price rise is unlikely to happen soon.

    However, Vietnam still enjoyed a positive export situation in the first four months of the year, exporting 41,700 tons of coffee worth $161 million, an increase of 23.5 percent in volume and 19.6 percent in value.

    Germany and the U.S. remain the largest markets for Vietnamese coffee, respectively accounting for 13 and 11 percent of total exports, according to the agriculture ministry.

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  • Lisa Lim Poh Lin appointed as independent non-executive director of Axiata Malaysia

    Lisa Lim Poh Lin appointed as independent non-executive director of Axiata Malaysia

    Axiata Group Bhd has appointed Dr Lisa Lim Poh Lin as its independent non-executive director to further strengthen the board’s diversity mix and expertise.

    The appointment came into effect on June 8.

    “We constantly strive to build a board composition of relevant business expertise, global experience and diversity of backgrounds. As an accomplished Malaysian scholar with high-profile global corporate experience, Lisa’s deep experience in the competitive world of business, technology and finance will significantly contribute to our board deliberations. We are pleased to have her join us and we look forward to her contributions,” said Axiata chairmanTan Sri Azman Mokhtar in a statement.

    Meanwhile, Axiata president and group CEO Tan Sri Jamaludin Ibrahim said Lim’s experience will add another dimension to the board’s composition and her passion for nurturing and developing digital talents and entrepreneurs is aligned with the group’s aspirations of building a vibrant digital ecosystem within Asean and South Asia.

    Lim has over 18 years’ of experience in management consulting, academic research and investment management and has served as a fund manager at Columbia Threadneedle. She was also a sector leader for Global Telecoms Research.

    She holds a first class honours (BA and MEng) in engineering and a PhD in engineering from Cambridge University.

    She was a recipient of Malaysian Public Services Commission scholarship and The Cambridge Commonwealth Trust Scholarship. She is also a certified financial analyst (CFA) charterholder.

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  • Founder Bak Kut Teh lands in Vietnam

    Founder Bak Kut Teh lands in Vietnam

    Singapore’s pork ribs restaurant chain Founder Bak Kut Teh has opened its first outlet in Vietnam.

    Located on the ground floor of Ho Chi Minh City’s RomeA shopping centre in District 3, Founder Bak Kut Teh Vietnam offers the original Singapore menu.

    The brand’s founder Chua Chwee Whatt visited Vietnam for the grand opening and personally prepared the dishes for diners.

    Established in 1978, Founder Bak Kut Teh has two branches in Singapore and one in Jakarta, Indonesia.

    The brand launched in Vietnam under a franchise agreement with local Foodjoy company.

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  • Muji opens flagship store on JD.com

    Muji opens flagship store on JD.com

    Muji will launch an online flagship store on JD.com, and promote the partnership with posters in 231 of its stores throughout China, it announced.

    This will make it easier for online Chinese consumers to find and purchase Muji’s full range of Japanese product categories, including clothing, household items, home furnishing and even food.

    “We are very excited to announce the opening of our store in JD.com, following the cooperation with JD Logistics, which began in September 2017,” said Naoyuki Yamamoto, president of Muji  Shanghai. “We look forward to bringing our vision of a simple, pleasant life to people, as well as contributing to society, through this partnership with JD.”

    The e-commerce giant said Muji is a “hugely popular brand” and that the launch on its platform will take it to new levels. “Known worldwide for its simple aesthetic and well-designed products, MUJI has garnered a loyal fanbase of quality-conscious customers. With our commitment to delivering authentic products with world-class service, JD is the perfect home for Muji’s premium wares.”

    The brands plan to deepen their link during the second half of the year with a more comprehensive omnichannel integration covering membership programs, products and more.

    Muji sells low-cost, high-quality items that are renowned for their clean lines and minimalist design.

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  • World Bank raises 2018 growth forecast for Vietnam

    World Bank raises 2018 growth forecast for Vietnam

    Vietnam’s economy might expand by 6.8 percent this year, the World Bank (WB) says in a new report, revising upwards its previous forecast of 6.5 percent in April.

    It estimates GDP at 6.6 percent in 2019 and 6.5 percent in 2020.

    The bank explained its upward revision on better prospects for the expansion of agriculture and production for exports, continued inflow of foreign direct investment thanks to bright economic prospects.

    If the actual growth rate matches projection, it will be the same as last year, which was the highest in a decade.

    In the first quarter this year, the economy expanded 7.38 percent, also a 10-year record, thanks to the strong growth in agriculture, industry-construction and service sectors.

    In an interview in April, Prime Minister Nguyen Xuan Phuc had said Vietnam will maintain its current economic growth until 2020 by giving private firms more room to grow and driving positive change in rural areas.

    He said Vietnam will facilitate an economic environment conducive for private firms to thrive, noting that they account for 43 percent of the nation’s GDP.

    The Vietnamese government will help by developing new policies, distributing resources, encouraging the creation of new enterprises and giving firms more opportunities to use modern technologies, said Phuc.

    “We will try to put in place the most favorable policies and create the most favorable environment so that by 2020, we will have in operation over one million businesses, accounting for 50 percent of Vietnam’s GDP, up from 43 percent at present,” he’d said.

  • Gucci unveils Gucci Equilibrium

    Gucci unveils Gucci Equilibrium

    Gucci has its finger right on the pulse of the fashion industry, as its latest initiative, Gucci Equilibrium, solidifies its position as a sustainable, responsible as well as highly-desirable luxury fashion house.

    Today, on World Environment Day, the Italian fashion house launches its new online destination at Equilibrium.gucci.com, “designed to connect people, planet, and purpose,” as ideas surrounding what it means to be luxury continue to evolve.

    The initiative is part of Gucci’s mission to balance the creation of luxury fashion with a radical sustainability agenda, as its parent company Kering continues strives to offer the best products, made in the best way out of the best materials while taking the best care of the planet and its inhabitants.

    “Gucci is not a company where you must leave your values at the door, but one where they are enhanced, challenged and amplified,” said Marco Bizzarri, Gucci President and CEO in a statement. “Gucci Equilibrium is about us spreading that energy and that positive intent to everyone who loves our brand.”

    The new platform shares curated content which showcases the stories, ideas and the science behind Gucci’s environment and social impact change, all while highlighting the luxury fashion house’s perspective on some of the key issues within the industry.

    The launch is part of Gucci’s wider 10-year plan to embed a comprehensive sustainability strategy into its brand, one which will be governed by a Culture of Purpose.

    In turn, this Culture of Purpose dictates Gucci’s operations on a daily basis, which are held in place by three pillars that include the environment, people and new models of sustainable innovation. Under the first pillar, Environment Gucci highlights its commitment to reduce its environmental impacts by setting targets to develop a new standard in luxury.

    For example, on the new platform readers can learn more about Gucci’s aim to guarantee the traceability of 100 percent of its raw materials by 2025 – a tall order for any brand.

    People, the second pillar, sees Gucci recognizing the value of its employees and working to enhance the lives of the individuals who make its products by supporting local communities. For example, Gucci is committed to fighting gender inequality through its Chimes for Change for Girls’ and Women’s Empowerment campaign.

    Gucci Equilibrium also shines a light on I was a Sari, a social enterprise which works with women from marginalised communities in Mumbai, teaching them new skills to bring in recurring income.

    At the same time, Gucci also underlines its use of technical innovation to improve efficiency in its production and logistics under its third pillar, New Models. For example, its newly opened Gucci ArtLab, offers a start-up environment for innovation, craftsmanship and experimentation.

    “These are critical times when we can all play our part in helping to deliver on the UN Global Goals and the Paris Climate Agreement,” added Bizzarri. “The only way to do that is by bringing people together, sharing ideas, innovation, and experiences. This is the objective we have set for Gucci Equilibrium.”

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  • Korea now fifth-biggest beauty exporter to EU

    Korea now fifth-biggest beauty exporter to EU

     

    Korea is now one of the top beauty product exporters to the European Union, surpassing Japan to take the No. 5 spot in terms of value.

    According to a report released by the International Trade Association on 5 June, Korea exported 135 million euros (US$158 million) of beauty products to the EU last year, pushing Japan down to the No. 6 spot.

    The United States took the top spot last year, with 1.2 billion euros of exports to the EU. China came in second with 630 million euros, followed by Switzerland with 574 million euros and Canada with 137 million.

    Although it placed fifth overall, Korea actually recorded the highest year-on-year increase among the top five, at 46.8 percent. The report added that the 135 million euros was a 10-fold increase compared to 2010.

    A major contributor to the rise in popularity of Korean beauty goods across Europe is the growing trend for eco-friendly or vegan lifestyle. The analysis, from Korea International Trade Association’s (KITA) Brussels office, pointed out that Korean brands managed to cater to these changing tastes as they heavily promote the use of natural ingredients like ginseng, green tea and aloe plants.

    This was backed by a survey conducted by Cosmetics Europe in April last year: 52 percent of respondents answered that a product’s effect on the environment was a major factor they considered when making beauty purchases.

    The analysis said that there is a growing perception in Europe that Korean beauty products are good quality. Korean brands also offer products that are otherwise hard to find from European brands, like sheet masks and cushion foundations.

    For companies that aim to launch businesses in Europe, KITA advised that it’s necessary to verify that product ingredients are not animal-tested, as such testing was banned by the European Union in 2013.

    “Several European companies said Korean brands have to work more to increase awareness and particularly make sure to emphasize that they are Korean, as a lot of European consumers know that animal-testing is mandatory for beauty products in China,” said the report.

  • Verizon names former Ericsson chief as new CEO

    Verizon names former Ericsson chief as new CEO

    Former Ericsson chief executive Hans Vestberg was named Friday as the new CEO of US telecom group Verizon, succeeding Lowell McAdam as of Aug 1.

    Vestberg, 52, is currently chief technology officer and head of global networks for Verizon, the leading US wireless telecom group which also owns the AOL and Yahoo brands and is a major broadband provider.

    McAdam, 64, who has been CEO since 2011, will serve as executive chairman until the end of next year, when he will retire and become non-executive chairman, a Verizon statement said.

    Under McAdam, Verizon took over the stake in the important wireless unit from Britain’s Vodafone and built a customer base of more than 150 million.

    He also led efforts to buy faded internet stars AOL and Yahoo to create a digital media operation within the firm, under the brand known as Oath.

    Vestberg, a native of Sweden, served for six years as president and CEO of that country’s big telecom-networking group Ericsson before moving to Verizon.

    He takes over as telecom firms race to build fifth-generation, or 5G networks expected to lead to an array of new services such as telemedicine and autonomous vehicles.

    The transition also comes amid a pending tie-up between number three and four carriers T-Mobile and Sprint, subject to regulatory review.

    Verizon’s main competitor, AT&T, is seeking a transformation with the purchase of media-entertainment giant Time-Warner, a deal being challenged by US antitrust authorities.

    “I am humbled to be appointed CEO of Verizon at such an exciting and dynamic time for our company and industry,” Vestberg said.

    “We are experiencing unprecedented changes in the way users interact in the digital world, and we are racing ahead to remain at the forefront of technology, connectivity and mobility.”

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  • Pop by the Burberry Conservatory Pop-Up at Marina Bay Sands

    Pop by the Burberry Conservatory Pop-Up at Marina Bay Sands

    Following Dubai and Seoul, the next stop on the Burberry Conservatory pop-up world tour is Singapore.

    The headline star for the pop-up is a tote known as the Belt Bag, which made its debut at Burberry’s February show in London.

    Modelled after quintessentially English greenhouses, the space will offer exclusive Belt models, namely limited editions in medium and small sizes sewn with rainbow belt detailing and equestrian knight embroidery. For customisation, a sample of exclusive belts with rainbow and grommet details will be available, bolstered by the brand’s now-signature monogram service.

    Another model will be the Pin clutch with four colourways in leather.

    Open from June 21 to July 8, the Burberry Conservatory will be open at The Shoppes at Marina Bay Sands.

  • Devialet Hong Kong flagship store is officially open

    Devialet Hong Kong flagship store is officially open

    Devialet, the French innovator in breakthrough sound technology, has officially opened its new Hong Kong flagship in Pacific Place located at Shop 134 on Level 1.

    Following a successful soft launch period and extensive three-phase remodel and renovation, Devialet Hong Kong customers can now fully experience the best sound in the world at new Immersive Rooms located within the 732 sq foot flagship in this iconic Hong Kong retail destination.

    As one of Hong Kong’s premier lifestyle hubs and purveyors of contemporary luxury, Pacific Place is the ideal fit for the new Devialet flagship and its iconic Phantom.

    The new opening marks the latest addition to Devialet’s fast-growing retail presence in Hong Kong, spanning the Devialet store at Harbour City in TST, an Immersive Room at Elements in West Kowloon, the Devialet Private Lounge (By Appointment Only) in Lee Garden Causeway Bay, and authorised dealers.

    The new store opening coincides with the launch of the new album of The Lost Recordings by Devialet and Fondamenta, a truly remarkable set of five previously unreleased recordings by piano maestro Emil Gilels.