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Tag: asia

  • Apple will reportedly allow Apple Watch to pair with multiple devices

    Apple will reportedly allow Apple Watch to pair with multiple devices

    When you buy a new Apple Watch, it must be paired with an iPhone. While one iPhone can be paired with multiple Apple timepieces, one Apple Watch cannot be paired with multiple Apple devices. But a Twitter tipster who made a great call last year says that the rumor mill is actively cranking out fresh speculation for mass consumption. This rumor says that Apple is developing software updates allowing an Apple Watch to pair with multiple Apple devices, including an iPhone, an iPad, and a Mac.
    Currently, an Apple Watch cannot pair with an iPad, but with the timepiece paired with an iPhone, a user can use his Apple Watch to help him view Apple Fitness+ workouts on an iPad that uses the same Apple ID. And those with an Apple Watch can unlock their Mac computers, view passwords, authenticate apps, and verify the user’s identity to complete an online Apple Pay transaction.
    “Apple Watch will sync across multiple iOS/iPadOS/Mac devices, and will no longer be tied to one single iPhone.” The tipster says that while he doesn’t know how Apple will implement this, he does know that in a future update, Apple will allow the Apple Watch to sync with more than one Apple device. Also unknown is which Apple Watch models will have this new feature and when it will be introduced.
    For example, the tipster says he is unsure whether Apple will include this new capability with watchOS 10, iOS 17, iPadOS 17, and macOS 14, all due out later this year, or if it will be delayed until then the 2024 updates.  The tipster, @analyst941, made a great call on the Dynamic Island before the feature was announced last year giving him some legitimacy.

    Recently, @analyst941 posted not to give up on seeing solid-state buttons replace the mechanical buttons on the two upcoming premium iPhone 15 models, contradicting more well-known analysts such as Haitong Tech’s Jeff Pu, and TFI International’s Ming-Chi Kuo. Pu and Kuo both say that Apple will stick with the physical buttons on the iPhone 15 Pro and iPhone 15 Ultra. But @analyst941 wrote that the two models “will still have capacitive touch buttons, {and that] contrary to rumors, the development team is working too closely with new hardware to turn back now.”

    The tipster also recently tweeted a list of new features he expects to see on iOS 17. Apple will discuss iOS 17 on June 5th, when the keynote will be held for the WWDC 2023 Developer’s Conference. The new iPhone, Apple Watch, and iPad operating systems will be released in September.

     

  • YouTube Music introduces feature to share your listening habits with your friends

    YouTube Music introduces feature to share your listening habits with your friends

    YouTube Music is set to add a new feature where profile statistics can be now made public. Enabling this will allow users to view their own and other users’ music listening habits and preferences on the platform.

    With this new feature, users will be able to view their own public profile, which will include information such as their top artists, top tracks, and recently played songs. Additionally, they can view other users’ public profiles, which will display their listening habits and preferences, as well as any playlists they have created and shared for up to two years.

    The public profile statistics will also include information about the user’s activity on the platform, such as the number of playlists they have created, the songs and artists most listened to, the music videos most viewed and the playlists most listened to on repeat. This information will be displayed on a public profile page, accessible to anyone who searches for the user on the platform.

    While this new feature may seem like a simple addition, it has the potential to transform the way users engage with each other on the platform. By allowing users to view each other’s music preferences and habits, it will create a sense of community among users and may even lead to the discovery of new music and artists.

    It is important to note that this feature will only be available to users who have opted in to making their profile public. Users who prefer to keep their listening habits private can choose to keep their profile hidden from public view.
    The feature is not yet live for everyone and the link to the help article is not yet live. However, the feature seems to be rolling out to a limited amount of users at this time. If you wish to access your own public stats, open your YouTube Music app and navigate to “Settings”, then navigate to “Privacy and Location”, then “Channel Settings”. If the setting is available to you, you should then see the “Enable public stats” toggle.
    The addition of public profile statistics to YouTube Music is a significant development for the platform as it has been steadily and adding new features to compete with the likes of Spotify and Apple Music. It has the potential to create a more interactive and engaging user experience, while also

     

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  • TSMC’s current 3nm chip production not enough to satisfy Apple’s needs

    TSMC’s current 3nm chip production not enough to satisfy Apple’s needs

    The world’s leading foundry, TSMC, is having problems meeting the demand for 3nm chips from Apple. The latter is TSMC’s largest customer, accounting for 25% of its revenue. Apple reportedly locked up all of TSMC’s 3nm production for this year and plans on debuting the 3nm A17 Bionic chipsets with the iPhone 15 Pro and iPhone 15 Ultra.
    The smaller the process node, the smaller the chip’s feature set, including transistors. Smaller transistors mean that more can fit inside a chip, which is important because the higher its transistor count, the more powerful and energy-efficient it is. For example, the Apple iPhone 11 line was released in 2019 and was powered by the 7nm A13 Bionic which contained 8.5 billion transistors in each chip. Last year’s iPhone 14 Pro models were powered by the 4nm A16 Bionic SoC with a transistor count of 16 billion.
    The aforementioned A17 Bionic that will power Apple’s premium iPhone 15 models this year will be made on the 3nm node and could include more than 20 billion transistors. The iPhone 15 Pro and iPhone 15 Ultra could be the only two phones from a major brand to use a 3nm chip under the hood this year. One reason is cost. With the price for each silicon wafer used for 3nm chip production tagged at approximately $20,000, moving to 3nm this year is an expensive proposition, especially with yields still improving.
    As TSMC and Samsung jockey for 3nm leadership, TSMC CEO C.C. Wei recently spoke to analysts during a conference call and said, “Our 3-nm technology is the first in the semiconductor industry to high-volume production with good yield. As our customers’ demand for N3 (TSMC’s 3nm production) exceeds our ability to supply, we expect N3 to be fully utilized in 2023, supported by both HPC (High-Performance Computing) and smartphone applications.”
    The executive added, “Sizable N3 revenue contribution is expected to start in the third quarter, and N3 will contribute a mid-single–digit percentage of our total wafer revenue in 2023.” The sizable N3 revenue contribution Wei sees in Q3 has to do with the release of the 2023 premium iPhone models.
    While TSMC and Samsung are the top two chip foundries in the world, Intel has joined the fight and promises to regain process node leadership in 2025. Right now, that crown belongs to TSMC. Mehdi Hosseini, senior equity research analyst with Susquehanna International Group says, “TSMC, in our view, remains the preferred foundry choice for leading-edge nodes as Samsung Foundry has yet to demonstrate a stable leading-edge process technology, all while IFS is years away from offering a competitive solution.”
    Besides the A17 Bionic, TSMC will also produce Apple’s M3 chip using the 3nm node. Brett Simpson, senior analyst at Arete Research, said in a report provided to EE Times, “We think TSMC will move to normal wafer-based pricing on N3 with Apple during the first half of 2024, at around $16-17K average selling prices. At present, we believe N3 yields at TSMC for A17 and M3 processors are at around 55% [a healthy level at this stage in N3 development], and TSMC looks on schedule to boost yields by around 5+ points each quarter.”
    As is the case in the chip industry, there is no time to rest because you always have to look ahead. With 3nm heading for the iPhone this year, 2nm production will start in 2025. TSMC CEO Weil says, “At N2, we are observing a high level of customer interest and engagement. Our 2-nm technology will be the most advanced semiconductor technology in the industry in both density and energy efficiency when it is introduced and will further extend our technology leadership well into the future.”
    Even with Apple’s 3nm business, 2023 is not shaping up as a good year for TSMC and revenue might fall this year for the first time in a decade. Year-over-year sales could decline by a mid-single–digit percentage point. Even with business slowing, the foundry expects capital expenditures to remain in the range of $32 billion to $36 billion.
    The Apple A17 Bionic has a die size in the range of 100-110 mm square allowing it to produce 620 chips per wafer. With a die size of 135-150 mm square, TSMC’s yield for the Apple M3 is 450 chips per wafer.

     

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  • Vietravel Airlines to get three more planes in Q3

    Vietravel Airlines to get three more planes in Q3

    Vietravel Airlines is expecting to expand its fleet to six by adding three more aircraft in the third quarter following a plan set out from the early days of its establishment.

    The move in association with a recruitment program slated for May in Ho Chi Minh City aims to help the carrier be ready for its market expansion targets.

    The airline, which debuted in late 2020, is currently operating six domestic routes connecting Hanoi, Ho Chi Minh City and major tourist destinations of Da Nang, Phu Quoc and Quy Nhon, along with two international ones connecting Hanoi, HCMC and Bangkok.

    It is also partnering with a company from the Republic of Korea to provide 11 charter flights on the Daegu-Cam Ranh route in the period from March 28 to May 7 with one flight every five days.

    As of the first quarter of 2023, Vietravel Airlines had operated over 11,600 flights safely and carried close to 2.5 million passengers, with an average occupancy rate of 93.7%.

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  • Laos raises minimum wage for workers

    Laos raises minimum wage for workers

    The Lao Government has decided to raise the monthly minimum wage from LAK1.2 million (nearly US$70) to LAK1.3 million starting May 1 to ease workers’ difficulties amid soaring inflation and economic uncertainties.

    The decision was made at the Lao Government’s meeting held on April 25 – 26 under the chair of Prime Minister Sonexay Siphandone.

    In 2022, as workers’ lives were hit hard by soaring inflation, the Lao Federation of Trade Unions Central Committee proposed increasing the monthly minimum wage to 1.5 million LAK.

    However, the Lao National Chamber of Commerce and Industry opposed it, saying that the wage hike would negatively impact enterprises that were also struggling with difficulties.

    Aside from the minimum wage rise, PM Sonexay Siphandone told the Ministry of Labour and Social Welfare to work with related sectors to consider how the increase is relevant to the current economic situation.

    He also asked ministries and sectors to conduct an in-depth study on wage hikes and report results to the Government in the third quarter of this year.

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  • Sabeco profits soar by 40%

    Sabeco profits soar by 40%

    Brewer Sabeco said its after-tax profit rose by 40% last year to VND5.5 trillion. Vietnam’s biggest brewer had net revenues of VND34.98 trillion, an increase of 32% from 2021.

    These are significant achievements compared to the 2021 results.

    The 2022 profit figure was the highest in the company’s history, and was achieved despite the challenging market conditions and various post-pandemic difficulties.

    The year also marked an important milestone for Sabeco as it entered phase 2 of its transformation journey, focusing on sales, branding & marketing, production, and supply chain.

    The 2022 results also reflected Sabeco’s accomplishments in transforming its core business processes and accelerating its marketing and sales initiatives.

    It is improving cost management and operational efficiency across the entire supply chain by implementing Sabeco 4.0.

    Given the record profit, the board proposed a special dividend of 15%, which was approved at the AGM, bringing the full-year dividends for 2022 to 50%.

    To further enhance shareholder value, it was proposed to issue bonus shares at a ratio of 1:1, and was also approved.

    Sabeco expanded its mid-to-long-term strategic investment initiatives in 2022 to support sustainable business growth as part of its long-term growth plans.

    This includes recent strategic moves to increase ownership in Saigon Binh Tay Beer Group JSC and Saigon Packaging Group JSC. The two companies will become subsidiaries when the process is completed.

    Sabeco also announced plans to increase its stakes in the Western-Saigon Beer JSC from 51% to more than 70%.

    At the meeting, general director of Sabeco, Bennett Neo, said 2022 was a breakthrough year with record profits.

    “We grew our market share and net revenues, and profit after tax reached VND5.5 trillion, an increase of 40% over 2021. This is a result of our collective efforts to drive sales, the right investment strategy and efficient cost management.”

    For 2023 Sabeco has a revenue target of VND40.272 trillion and a profit target of VND5.775 trillion, increases of 15.1% and 5% from the previous year.

    The company said it would continue to strengthen its 4Cs sustainable development commitment, which includes driving ESG initiatives that are in line with its corporate goals and Vietnam’s national strategies.

    The corporation is committed to continuing its efforts as a proud, prominent and responsible corporate citizen to bring out the best in Vietnam.

    The chairperson of the AGM and board member Michael Chye said the business environment remains challenging with various uncertainties caused by the global economy and unpredictable but fierce competition.

    However, he said Sabeco remains committed to investing in opportunities that drive long-term growth and increase shareholder returns.

    “This will enable us to reward our shareholders with sustainable dividends and in line with the company’s long-term growth prospects.”

    A change of general director was also announced at the annual general meeting and will be effective from October 1, 2023. Lester Tan Teck Chuan will become the new general director.

    Lester is currently Senior Vice President, Chief Beer Business, at Thai Beverage PLC and has been at this role since 2020.

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  • Mercedes distributor sees plummeting profit

    Mercedes distributor sees plummeting profit

    Mercedes distributor Haxaco reported a 92% year-on-year fall in pre-tax profits in the first quarter to VND5.6 billion ($238,750).

    Amid an industry-wide decline in sales, Haxaco’s revenues plummeted by 40% to VND992 billion.

    High-interest rates and the difficult economic situation caused sales of the luxury brand to drop, the company said in a statement.

    Its chairman, Do Tien Dung, said last week that in some months during the first quarter only a few cars were sold, and most of the income came from services.

    The company expects the difficult situation to persist until the end of the year.

    Yet it targets profits of VND310 billion for the year, the same as the record sum achieved last year, with Dung saying he does not want his employees to give up because the market situation is difficult.

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  • Fast Retailing’s Uniqlo to add stores in North America

    Fast Retailing’s Uniqlo to add stores in North America

    According to one of its executives, fast Retailing’s Uniqlo plans to expand its existing stores in North America by 10 percent.

    Uniqlo is opening six stores — four in the US and two in Canada — this summer as part of its expansion plan to reach more than 200 locations in North America by 2027. The company hopes to open 20 to 30 stores each year as a part of the goal.

    The US stores, which will be located in malls in two California locations, Maryland and New Jersey, are in areas where the chain already has a presence.

    The two Canadian stores opening in Ottawa and Calgary — the first Uniqlo locations in those cities — each total 15,000 square feet (1,393.55 square meters).

    Each of the new stores will be equipped with self-checkout kiosks, in-store pickup and free clothing alterations.

    Fast Retailing reported a 16.4 percent rise to US$1.65 billion in first-half operating profit earlier this month. The company also raised its full-year profit forecast to $2.7 billion from$2.63 billion.

    Daisuke Tsukagoshi, Uniqlo North America chief executive, said in an email to Reuters that the chain chose to launch the Ottawa and Calgary stores after seeing a “strong online presence” there.

    The Tokyo-based retailer currently has 47 stores in the US and 16 locations in Canada.

    “We’re looking to locations where we have already seen high customer demand, as well as new markets that we see opportunity in,” Tsukagoshi added.

    Tsukagoshi said that localizing product offerings in the US’s various regions has been “challenging” as shoppers deal with different climates and experiences.

    He said Uniqlo is in a “unique position” to open stores in the current economic environment as shoppers trade down and turn to accessible pricing for essential styles.

    Uniqlo has gained popularity in the US for its relatively low pricing including women’s t-shirts for $14.90 and men’s zip-up jackets for $39.90.

    According to its website, Uniqlo currently has 1,028 stores in Greater China and 79 in Europe.

    For comparison, Gap Inc boasts more than 2,100 stores, including Old Navy and the Gap brand, in the US alone. However, the company plans to close approximately 350 Gap and Banana Republic locations by the end of 2023.

    According to the retailer’s website, Sweden’s fast fashion giant H&M has more than 738 stores in North and South America as of February 2023.

  • Dior to open its largest store in South Korea

    Dior to open its largest store in South Korea

    Following the launch of its concept store in Seoul’s Seongsu-dong district last year, LVMH-owned luxury house Dior will open its largest brick-and-mortar store in South Korea in the second half of this year.

    Located inside one of the country’s largest department stores Hyundai Department Store Pangyo, Dior’s new flagship store will mark the largest among women’s boutiques, except for the men’s/women’s boutiques ‘House of Dior,’ ‘Dior Sung Soo,’ and The Hyundai Seoul Dior Boutique.

    Christian Dior Couture Korea’s net income swelled 54.8 percent on-year to $184 million last year, while its operating profit and sales in South Korea both rose over 50 percent on-year, according to its regulatory filing.

    Hyundai Department Store said last year it planned to invest approximately 200 billion won in upgrading its six branches: Apgujeong, The Hyundai Seoul, the Trade Centre branch, the Mok-dong branch, the Pangyo branch, and the Daegu branch.

    Dior has also just named Haerin, a member of the Kpop group NewJeans, as its new brand ambassador for Jewellery and House Ambassador for Fashion and Beauty at Dior.

    International luxury brands are paying close attention to the South Korean market as they employ various strategies to gain more customers, particularly those in Gen Z. According to Morgan Stanley, South Koreans were the world’s biggest spenders on personal luxury goods with the nation’s per capita spending amounting to US$325.

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  • Startup e-commerce platform Temu expands to Europe

    Startup e-commerce platform Temu expands to Europe

    Ultra low-cost e-commerce platform Temu, owned by PDD Holdings has started selling to European markets including France, Germany, Italy, The Netherlands, Spain and the United Kingdom.

    The Temu.com website now shows all of these markets on its location drop down menu in addition to the United States, Canada, Australia and New Zealand, where it had previously already been available.

    PDD Holdings did not immediately respond to Reuters request for comment on the expansion.

    Temu, the sister site of Chinese discount e-commerce platform Pinduoduo, has made a big splash since launching in the United States last September, selling shoes, jewelry, beauty accessories and home goods directly from Chinese merchants for very low prices.

    It’s a similar cross-border model to the one that has propelled Shein, which ships to more than 150 countries, to become the world’s biggest fast-fashion brand with annual sales of more than $58.5 billion.

    Temu, which is headquarted in Boston, saw 19 million US downloads in the first quarter of this year, according to mobile intelligence firm Sensor Tower, which also ranks Temu as the most downloaded app on Apple and Google Play stores in the United States.

    The platform’s gross merchandise value – total sales before expenses – grew from $3 million in September to $192 million in January, according to data firm YipitData.

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  • Kirin to buy Blackmores in $1.88 billion cash deal

    Kirin to buy Blackmores in $1.88 billion cash deal

    Japanese drinks giant Kirin Holdings has agreed a $1.2 billion buyout of Australian vitamin maker Blackmores, furthering a diversification push while offering the struggling target’s shareholders a neat exit.

    The deal makes good on a plan by Kirin to broaden its business beyond alcoholic drinks as a growing interest in health raises expectations of tougher regulation.

    It also throws a lifeline to Blackmores shareholders after years of soft returns. The company grew from Australia’s first health food store nearly a century ago into a national success story as it capitalized on Chinese appetite for imported health supplements.

    But COVID-19 containment ended the “daigou” boom, where Chinese consumers bought goods abroad to carry home, and the firm has been struggling to recover sales since. Before the Kirin deal, Blackmores shares traded at one-third their value in 2016, the height of the daigou craze.

    “When you’ve spent 57 years at a business, you don’t want to see the business suffer, and you want to see the business successful,” said former chairman Marcus Blackmore, son of the firm’s founder and its top shareholder with 19%.

    “I have no doubt in my mind that Kirin will deliver on that promise to me,” added Blackmore, 78, in a phone interview.

    Kirin, which makes about half its sales from alcoholic drinks, including top Australian beer brands like Tooheys, said it would benefit by joining a pharmaceuticals unit based in Japan with an already large Australian footprint.

    “In the health sciences area, Kirin is strong in Japan while Blackmores has a strong presence in Australia, China, and Southeast Asia,” Kirin Senior Executive Officer Takeshi Minakata told a Tokyo news conference.

    “The combination of the two companies will enable us to supplement each other’s coverage in areas that have not been covered so far.

    The news pushed Blackmores shares up 23% to A$94.26, their biggest single-day gain, and just short of Kirin’s A$95 purchase price as investors considered the deal final while allowing for dividends that might be paid, which would be subtracted from it.

    “Higher interloping bids are possible, but we think the odds are low given our A$80 stand-alone assessment of Blackmores’ intrinsic value,” said Morningstar analyst Shane Ponraj in a client note.

    Kirin shares fell as much as 3% as analysts wondered if it overpaid.

    “The deal just looked a bit expensive and Japan generally takes M&A negatively. A little surprised it isn’t down more.” said Mio Kato, founder of LightStream Research, who publishes on the SmartKarma platform.

  • WhatsApp rolls out the ability to use one account across multiple phones

    WhatsApp rolls out the ability to use one account across multiple phones

    WhatsApp has recently introduced a new feature that allows users to use their WhatsApp account on multiple devices. This feature has been long-awaited and is now finally available for both Android and iOS users.

    Previously, users could only use their WhatsApp account on one Android or iOS smartphone at a time, but with the ability to extend it to your tablet, laptop, or desktop computer. This required that your smartphone be your main WhatsApp device and the others would be linked via WhatsApp Web or the official WhatsApp Mac app. This solution worked great for many, however, you still could not use the app in more than one phone and needed to unlink and relink your account any time you wanted to switch mobile devices, which was inconvenient and time-consuming for many users.

    Now, with the new update recently announced via the WhatsApp blog, you will be able to switch between devices without any hassle seamlessly. This is great news for those that frequently switch between phones, such as between Android and iOS, or who have both a business and a personal device.
    To use this feature, you will still need to designate a primary phone, just as you’ve been able to do in the past with up to four devices, except now one of those linked devices can be a secondary or backup phone. On your secondary phone, open WhatsApp and tap Agree & Continue, followed by selecting “link this device to an existing account.” This will provide you with a QR code that will need to be scanned by your primary phone.
    One of the great things about this feature is that your messages and other data are end-to-end encrypted and stored locally on each device. This means your conversations are still private and secure, even when using multiple devices. However, there are some limitations.
    A few of the limitations include the lack of live location and status features on companion phones. Additionally, if you fail to use your primary phone for over 14 days, your companion phones will be logged out as they depend on the primary phone for the connection. Lastly, linked companion phones will always show the message “This is a linked device. Learn more” in Settings.
    This update has already begun to roll out to users worldwide, and should be accessible to everyone in the next weeks. In addition, over the next several weeks, WhatsApp will be rolling out a new way to link companion devices, which involves the use of a one-time code instead of a QR code.
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  • Gold prices gain

    Gold prices gain

    SJC gold price gained 0.07% to VND67.2 million ($2,863.23) per tael Thursday morning.

    Gold ring price went up 0.09% to VND56.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.

    Globally gold prices rose on a softer dollar, while investors braced for a host of U.S. economic data ahead of a crucial Federal Reserve’s policy meeting next week.

    Spot gold rose 0.4% to $1,996.50 per ounce while U.S. gold futures climbed 0.5% to $2,005.20.

    Making bullion less expensive for other currencies holders, the dollar index eased 0.1% on the day.

    Gold is treading waters right now, as investors keep an eye on U.S. debt ceiling talks, and the Fed meeting next, that could offer some ideas on what to expect for the rest of the year, said Edward Meir, a metals analyst at Marex.

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  • Direct-To-Consumer Growth Fuels Supply Chain Innovation

    Direct-To-Consumer Growth Fuels Supply Chain Innovation

    While the pandemic and subsequent ecommerce explosion drove strong demand for true omnichannel supply chain commerce solutions, it also fuelled a less immediately obvious longer-term move towards direct-to-consumer (D2C) fulfilment too.

    Where suppliers of wholesale goods (including everything from FMCG goods to electrical appliances), often ship large, bulky consignments of cargo through industrial supply chains to distribution centres and then on to stores, companies selling to consumers must manage the flow of individual shipments, such as a single box of running shoes, or a polo shirt, direct to a customer’s home or preferred collection point.

    Footwear, apparel and electronics manufacturers were amongst the earliest adopters to have stepped up their D2C offerings through the Covid-19 pandemic as stores and retailers closed their doors and brands struggled to find new avenues to reach their customers.

    As the lines between what a retailer or manufacturer used to be and what they are today become more opaque, almost every company is in some way, shape or form, making attempts to get closer to their consumers. Take Adidas as an example. D2C sales helped to boost revenue at Adidas in the last year, and its own ecommerce website now accounts for more than 20 percent of its business. It recently reported that online sales grew by double-digits through large parts of 2022 too.

    Another example of a modern, successful D2C strategy is that which America’s own sporting leviathan, Nike has implemented. Since 2017, the company has actively reduced its number of retail partners (last year it withdrew from Urban Outfitters) to concentrate on growing its own online and bricks & mortar presence – its Oxford Circus flagship store in the UK and the intuitive members app are fine examples of this strategic move, providing ‘loyal’ members with a greater range of bespoke, limited edition offerings not available beyond Nike’s own online and physical retail ecosystem.

    The shift to this model has given Nike full control over its customer relationships and crucially, its customer’s associated data, making customer journeys and user experiences richer and more native in equal measure.

    Similar to Adidas’ announcement however, the D2C model has also increased the fulfilment costs per item: from managing logistics and supply chains, to hiring the right talent capable of creating those exceptional customer experiences, these extra costs can consume profits if unaccompanied by an agile and pragmatic supply chain strategy.

    If brands truly wants to harness the benefits of D2C, and serve millions of customers in a cost effective, sustainably-minded way rather than a network of third-party retail stores, they need to be nimble in every department – especially when it comes to supply chains.

    The movement towards D2C fulfilment is well illustrated by the efforts made by Nike and Adidas over the last year, and, by operating effective D2C channels, they are enjoying the freedom to optimise their logistics and deliveries, while meeting the exacting expectations of their customers.

    D2C is the latest iteration in a long line of retail supply chain evolutions and while finding the right balance may prove challenging in the short-term, the size of opportunity is huge for retailers and particularly wholesale brands as this route offers a wholly new touchpoint to interact with customers, not previously available.

    At Manhattan Associates our unified supply chain commerce platform is informed and inspired by more than thirty years of supply chain and commerce experience across retail, apparel, food, and wholesale distribution, working with some of the world’s most well-known brands including, Adidas, Lacoste, L’Oreal and Brooks Brothers.

    We also know that the key to success is to start from the ground up and build strong foundations for success. And, in the case of retailers looking to ride the D2C wave, this means first looking to their own supply chain networks and the IT infrastructure that underpins it.

    For more information on how your business can enhance its D2C supply chain capabilities, please visit: www.manh.com/en-sg

    Written by Richard Wright, Managing Director, SEA, at Manhattan Associates

  • French jeweler Tiffany opens store in HCMC

    French jeweler Tiffany opens store in HCMC

    Luxury jewelry brand Tiffany & Co. has opened a store in Ho Chi Minh City, two years after opening its first in Vietnam in Hanoi.

    The store in District 1, which had a soft opening last week, is part of a strategy by the 186-year-old jeweler to increase its presence in Asia after being acquired by France’s LVMH in 2021.

    The store is run directly by the company as against the Hanoi one, which a distributor operates.

    According to residence and citizenship advisory firm Henley and Partners, HCMC had the ninth fastest growth rate globally in the number of millionaires last year.

    Vietnam’s biggest city saw their numbers rise by 84% to 7,700 individuals, it said in its 2023 World’s Wealthiest Cities Report.

    As of last year HCMC had 15 people with a net worth of $100 million and three billionaires.

    It is ranked the 67th wealthiest city in the world.

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