Retail News CRM

Tag: asia

  • Toys ‘R’ Us Asia names Leo Tsoi as new CEO

    Toys ‘R’ Us Asia names Leo Tsoi as new CEO

    The Board of Directors of Toys”R”Us Asia (Holding) Limited, (“Toys”R”Us Asia”), the leading retailer of toy and baby products in ten markets across Asia, today announced the appointment of Leo Tsoi to the role of Chief Executive Officer and member of the Board, effective April 1, 2023.

    Mr. Tsoi brings to the role more than 27 years of consumer retail experience and business leadership in large multi-national brands across Asia. Most recently, Leo served as Chief Executive Officer of Starbucks China where he also served as a member of the Starbucks Global Executive Leadership Team.  Prior to that, Leo held a series of senior roles at Starbucks China including President of Retail, COO, CMO and VP of Store Development & Design, where he played a crucial role in the company’s growth and transformation. Prior to joining Starbucks, Mr. Tsoi held senior positions in iconic international companies, Pepsico and Procter & Gamble, in Greater China.

    “Following an extensive global search, we’re thrilled to welcome Leo Tsoi to Toys”R”Us Asia as our new CEO,” said Drew M. Nuland, Chairman, Toys”R”Us Asia. “Over the course of his career, Leo has distinguished himself as a bold innovator and inspiring leader who has led rapid growth over a diverse range of product portfolios. He has a proven track record not only in operational efficiency, digital transformation and brand management, but also in engaging customers throughout the region.”

    “I’m honoured to take on this leadership role with Toys”R”Us Asia, a dynamic and respected retail brand with a strong vision to fuel the imagination of children and inspire their development through play,” said Leo Tsoi, incoming Chief Executive Officer of Toys”R”Us Asia. “I look forward to working with the dedicated teams in our markets to serve our communities across Asia through an elevated customer experience and with meaningful innovations to capture the tremendous growth opportunities ahead.”

    Mr. Tsoi assumes the helm of Toys”R”Us Asia from Interim CEO Pieter Schats, who will remain a member of the Board.

    “As Toys”R”Us Asia continues to elevate the customer experience in-store and online and build more personalized relationships with kids and families, we’re confident that Leo’s proven leadership skills, extensive consumer knowledge and unwavering focus on people will enable our teams to accelerate growth throughout the region,” added Mr. Nuland.

    Lees ook:

    Lees ook:

  • Apple expected to deliver big update for Apple Watch with watchOS 10

    Apple expected to deliver big update for Apple Watch with watchOS 10

    On June 5th Apple will kick off its annual WWDC Developers Conference at Apple Park. And besides unveiling the “Reality Pro” mixed reality headset, the company will also preview iOS 17 and other operating systems, including watchOS 10. According to Bloomberg’s Mark Gurman, writing in the latest edition of his weekly Power On newsletter, the update will deliver some big UI changes to Apple’s timepiece.
    The hardware itself isn’t supposed to see any big changes in light of last year’s introduction of the Apple Watch Ultra. The next big hardware update, according to Gurman, will take place next year and he expects the Apple Watch Series 10 models to feature larger displays. In February, we passed along some rumors about the 2024 Apple Watch models.
    The 2024 Apple Watch timepieces should follow the same 10th-year celebratory naming strategy as the iPhone did in 2017 when Apple called the device the iPhone X. Expected to be officially known as the Apple Watch X, the 2024 models are rumored to be equipped with a 1.89-inch and a 2.04-inch screen. The current Series 8 units carry a 1.7-inch display (41mm) and a 1.9-inch screen (45mm). Next year, we should also see the second-gen Apple Watch Ultra sporting a larger 2.1-inch micro-LED screen. The first-gen Apple Watch Ultra carries a 1.92-inch OLED display.
    Gurman writes that watchOS 10 “should be a fairly extensive upgrade – with notable changes to the user interface – unlike iOS 17.” While we should get an idea of what changes Apple has in store for the watchOS interface this year during WWDC, the actual release of watchOS 10 won’t take place until September and, as usual, will be coordinated with the release of the latest Apple Watch models.
    The Apple Watch has turned out to be an incredible success story for Apple which initially didn’t know how to market the device. At first, Apple looked to distribute the watch via fine jewelry stores and even had a fashion model pose with the device on the cover of Vogue China. But soon the Apple Watch became known as a device that people could wear to monitor certain health metrics and has even been known to save several lives. Today, the Apple Watch is the most popular wrist-worn timepiece in the world.

     

    Lees ook:

  • Honda raises motorbike prices across the board

    Honda raises motorbike prices across the board

    Honda Vietnam has hiked the prices of most motorbikes following an increase in costs, the biggest hike being of VND2 million ($85).

    The price of the Vision 110cc, its best-selling automatic model, has risen by 1.37% to VND37.09 million.

    The Air Blade 125cc, a powerful city motorbike favored by men drivers, is up 1.62% to VND43.99 million.

    The LEAD, a vehicle known for its large storage space, has seen its price go up by 1.16% to VND43.59 million.

    The SH350i, Honda’s most expensive city motorbike, is up 1.32% to VND152.49 million.

    With global economic trends affecting the parts market, costs have increased, Honda said.

    Last year Vietnam’s biggest motorbike seller saw sales grow by 20.9% to 2.4 million units, accounting for 80.7% of the market.

    Lees ook:

  • Investment in Vietnamese startups down 56%

    Investment in Vietnamese startups down 56%

    Investment in Vietnamese startups reached $634 million in 2022, down 56% over the previous year due to the impact of global economic fluctuations.

    This investment was directed to startups through 134 deals, according to the Vietnam Innovation and Technology Investment 2023 Report, published Thursday by Do Ventures, a venture fund, and the National Innovation Center (NIC).

    Vietnam ranked third in the number of deals and fourth in investment in Southeast Asia last year, the report said.

    “The investment decreased due to the absence of big deals,” said Le Hoang Uyen Vy, managing director of Do Ventures.

    By sector, financial services attracted the most investment, increasing 248%. Retail was the second, despite its capital decreasing by 57%, followed by health and education.

    Vietnamese funds led the way in capital inflows for the first time, with a total of $287 million, followed by investors from Singapore, North America and South Korea. “Amid difficult circumstances, domestic investors are the ones fueling startups,” Vy said.

    Regarding the 2023 outlook, nearly 100% of surveyed investors said they would at least keep the current level of investment, according to the report. In the medium term, Vietnam’s startup ecosystem is still very attractive.

    At the “Vietnam Innovation Forum” on Thursday, Nguyen Anh Quang, senior investment director of SK – a South Korean fund that has invested $2 billion into Vietnam – is interested in consumer and healthcare projects.

    South Korea’s STIC Investment, which has invested $300 million in Vietnam, is interested in startups in the fields of logistics, e-commerce, and healthcare.

    Tran Duy Dong, Deputy Minister of Planning and Investment, said Vietnam’s startup ecosystem still has some areas it needs to improve, such as having few unicorns, startups valued at $1 billion upwards, venture capital funds, and big deals.

     

    Lees ook:

  • BetConstruct Wins One-Stop Platform Solution and Online Sports Betting Solution at Asia Gaming Awards

    BetConstruct Wins One-Stop Platform Solution and Online Sports Betting Solution at Asia Gaming Awards

    Since its inception in 2003, BetConstruct has taken the iGaming industry by storm, maintaining a top position as one of the world’s foremost gaming service providers. The London-based firm has grown from a purely Asian-focused company to an industry powerhouse with international outlook.

    Over the past 20 years, BetConstruct has expanded its innovative technology to US and European markets. This scaling up has been largely due to the development of an integrated full-service casino solution and a similarly styled sports betting solution.

    BetConstruct, through its sports betting solution, provides major operators across the world with an all-in-one sportsbook software featuring more than 70,000 live matches monthly. Players at sportsbooks can participate in online sports betting on up to 120 sports. There are also jackpots, access to racing events and omni-channel functionality.

    One of the core strengths of these products from BetConstruct is their terrific customization and highly dedicated customer support. So, it was no surprise when BetConstruct took home awards for One-Stop Platform Solution of the Year and Online Sports Betting Solution of the Year at the 2023 Asia Gaming Awards.

    The event took place on March 21 at the heart of Manila to honor some of the greatest contributions to the development of iGaming and betting worldwide. Attended by industry critics, regulators and casino suppliers and sportsbook operators like DraftKings, the Asia Gaming Awards put BetConstruct’s groundbreaking solutions in global focus.

    In a press release acknowledging the Asian Gaming Awards, BetConstruct had this to say about their products:

    “BetConstruct’s One-Stop Platform Solution is an all-in-one and worry-free platform that offers a complete suite of products for partners to easily manage all aspects of their iGaming business from a single platform.”

    In similar fashion, the statement described the BetConstruct Online Sports Betting Solution as “a fully customizable product that provides a wide range of features and functionalities tailored to every partner’s specific needs. It includes a variety of sports, a bunch of live and pre-match events and multiple betting options for partners to easily launch their own sportsbook business.”

    The Asia Gaming Awards is one of the largest conventions of gaming suppliers, service providers and operators in the Asia-Pacific region. It typically holds as part of the ASEAN Gaming Summit each year. In addition to the Asia Gaming Awards, the Summit features a conference and an exhibition of the leading online gambling products of the year.

    However, the Asia Gaming Awards was not the only event where BetConstruct’s products stole the show. In March, BetConstruct was awarded Esports Product of the Year at the 2023 SiGMA  Eurasia Awards in Dubai. Vigen Badalyan, Co-Founder and CEO at BetConstruct also received an Outstanding Contribution to Gaming Award at the same event.

    At the International Gaming Awards 2023, BetConstruct was announced the iGaming Software Supplier of the Year for its platform solution. The product also won Technology Provider of the Year and Platform Provider award at SPiCE India 2023 and the Global Gaming Awards 2023, respectively.

    Sports betting is growing at an unprecedented rate in Asia and players now have access to multiple markets thanks to suppliers like BetConstruct. With this in view, it is only right that the company is getting accolades for its innovative work.

    Lees ook:

    Lees ook:

    Lees ook:

  • Netflix games could soon be playable on TVs using your phone

    Netflix games could soon be playable on TVs using your phone

    It has been more or less two years since Netflix started offering its subscribers a whole gaming segment. The company started in 2021 with roughly 50 titles in its arsenal and has increased that with another 40 or so more since then.

    The new service, however, was available only on iOS, iPadOS, and Android. This left the most obvious and exciting medium, TVs — where the Netflix name initially became a household one — unutilized.

    The good news is that an app developer by the name of Steve Moser has discovered hidden code inside the app hinting the company is planning to finally make the big step forward and offer its games on TV as well. Maybe equally exciting is the next information dug out by Moser, which insinuates users would have the option to use their phones, be it Android or iPhone, to play the games on their TV screens.

    Here’s the text hinting at the phone-controller functionality:

    A game on your TV needs a controller to play. Do you want to use this phone as a game controller?

    This could potentially be a game changer for Netflix and bring it one step closer to retaining its subscribers, which is one of the main reasons the platform started introducing Games to its service in the first place. After serious backlash following price hikes and talks of harsher regulation on account sharing, this would be a great opportunity for Netflix to score some extra “cool” points.

    If the streaming giant decides to go along with this endeavor, it would also serve as a solid foundation for the company’s ambition to launch a cloud-gaming service, for which it is perfectly positioned now. That would allow anyone with a Netflix subscription (although it might be a new tier with a new price slapped onto it) to play more demanding titles that would not require powerful equipment and installation, just a very strong and stable internet connection.

    Lees ook:

  • VPBank eyes $1B profit

    VPBank eyes $1B profit

    VPBank expects a pre-tax profit of VND24 trillion ($1.02 billion) this year, exceeding the $1 billion milestone for the first time since its establishment.

    The news comes after the bank announced the sale of a 15% stake to a Japanese financial giant.

    The target, announced in a document sent to shareholders before the upcoming general meeting, will nudge the private lender into the ranks of the billion-dollar profit club in the banking sector, in which only Vietcombank and Techcombank are members.

    VPBank earlier this week completed a 15% stake sale to Japanese lender SMBC for $1.5 billion in the biggest acquisition ever recorded in Vietnam’s banking industry.

    The lender expects an asset growth of 39% to VND880 trillion this year, while capital mobilization and lending growth are expected to hit 41% and 33%, respectively.

    VPBank also wants its shareholders to approve a plan to increase its charter capital to VND79 trillion, the biggest in the industry, by issuing more shares.

    The banks plans to sell 30 million shares to its employees at the price of VND10,000 per share. These shares will come from the bank’s treasury shares and will be for a limited trading period of three years.

    Last year, VPBank recorded a pre-tax profit of VND21.22 trillion, up nearly 48% from 2021.

    Lees ook:

    Lees ook:

  • Ride-Hailing App Cabify Raises $110 Million For Expansion In Latam, Spain

    Ride-Hailing App Cabify Raises $110 Million For Expansion In Latam, Spain

    The company said on Tuesday that the Spanish ride-hailing app Cabify has raised $110 million in financing to accelerate its growth in Latin America and Spain.

    Cabify closed the funding round with participation from investors like Orilla Asset Management and AXIS, through Fond-ICO Next Tech.

    “This commitment by strategic investors is a recognition of Cabify’s positive impact and potential to continue creating long-term value for our investors and the cities in which we operate,” Cabify CEO Juan de Antonio said a statement.

    Cabify, whose business volume jumped 32% in 2022 from the previous year, said the capital injection will help increase its market share in more than 25 cities in Latin America and Spain with populations over 200,000.

    The company, which operates in more than 40 cities in Argentina, Chile, Colombia, Mexico, Peru, Uruguay and Spain, said in November it would invest more than $300 million through 2024 to strengthen its presence in Latin America.

    In December Cabify secured a 40 million euro loan from the European Investment Bank aimed at purchasing electric vehicles. The company aims for all rides through its app to be in zero-emission vehicles by 2025 in Spain and by 2030 in Latin America.

    With over 42 million registered users and 1.2 million drivers, Cabify employees over 1,000 people in Spain and Latin America.

  • Spotify launches new Niche Mixes feature for even more personalized recommendations

    Spotify launches new Niche Mixes feature for even more personalized recommendations

    Spotify already has a Mixes feature that provides users with personalized recommendations, but if you’re not content with what playlists you’re offered, the music streaming service has a brand-new product for you: <a href=”https://newsroom.spotify.com/2023-03-28/introducing-niche-mixes-personalized-playlists-for-almost-anything-you-can-think-of/” target=”_blank” rel=”nofollow noopener”>Niche Mixes</a>.

    The new addition to the Mixes family provides users with multiple personalized playlists that bring together everything that Spotify’s Mixes offer in a more user-friendly manner. With Niche Mixes, Spotify gives users access to tens of thousands of Mixes unique to them based on just about anything you can think of.

    The new Niche Mixes feature can be accessed from the Made For You hub within the Search tab. Spotify users looking for something very specific can now search for an activity, vibe, or even an aesthetic that describes the moment they’re in, and then add the word “mix” at the end.

    Typically, you’ll be getting 5-10 Mixes that the service thinks you’ll like, but if none are suitable for you, then you can specifically search for another set of personalized playlists. Each Mix is updated daily, so even if you get similar results, you might actually get different vibes every day.

    Now, the good news is Niche Mixes is available globally to Free users and those who chose to pay for a Spotify subscription. Remember that this is an English-only feature regardless of where you live.

    This feels more like an improvement to Spotify’s search engine rather than an update to the service’s algorithm. Regardless of what stands behind the new Niche Mixes, Spotify’s new feature will certainly add even more functionality useful to those who want to go even more in-depth into what music they’re listening at any given time.

    Anyway, give the new feature a try and let us know in the comments if it’s working for you.

    Lees ook:

    Lees ook:

  • Vietnam’s rice exports rise 30%

    Vietnam’s rice exports rise 30%

    Vietnam’s rice export value rose 30.2% in the first quarter despite export volume falling 19.2%.

    According to a Ministry of Agriculture and Rural Development report, the country shipped 1.79 million tons of rice worth $952 million abroad in the period.

    The average export price reached $531 a ton, up 9.2% over the same period in 2022. The hike is mainly because shipments to China are recovering, and Indonesia is also buying more to build up national reserves.

    At a conference on rice exports at the end of February, Nguyen Ngoc Nam, Chairman of the Vietnam Food Association (VFA), predicted that rice prices will remain high in the second quarter.

    According to the UN Food and Agriculture Organization (FAO), many countries are at risk of drought in the second half of the year, so food production may decline. As a result, they are increasing the purchase of rice to ensure food security.

    This is an opportunity for Vietnamese rice exports to benefit, said experts.

    Lees ook:

  • Vietnam-grown Musang King durian more expensive than imports

    Vietnam-grown Musang King durian more expensive than imports

    A kilogram of Vietnam-grown Musang King now costs VND1.5-1.8 million ($64-$76), 20% higher than imports of the same varietal.

    A kilogram of husked local Vietnamese Musang King ranges from VND500,000-850,000 per kilogram, equivalent to VND1.5-1.8 million per kilogram (husk removed). The price has increased 10% over a year ago.

    Malaysia’s Musang King is considered the “best durian in the world” and is currently grown by Vietnamese farmers in the Central Highlands and the Mekong Delta.

    The fruit regularly sells out at local markets, and buyers must wait two weeks and a month to receive their stocks.

    Oanh, a durian connoisseur in Ho Chi Minh City, said Musang King durian flesh is fragrant, supple and fat. “I have to pay deposits a month in advance to receive the goods.”

    A fruit shop in Hanoi also reported that it had just sold 10 unhusked Musang Kings for VND700,000 per kg (2-4 kg per fruit).

    “Since it is a fallen fruit, and is shipped by air, the quality is high. No matter how many we have, customers buy them all,” the store manager said.

    Explaining the high price of Vietnam-grown Musang King durian, Can Tho wholesaler Dang Manh Khuong said that durian is currently out of season, so low supplies have led to increased demand.

    “I can only find a few dozen Musang Kings to buy a day, sometimes 2-3 quintals at most,” he said.

    Hoa, who owns about 50 Musang King trees in Can Tho, said that her garden only has a few trees that bear fruit early, so most of her crop will not be harvested until August.

    Vietnamese farmers here can grow the fruit in the offseason, while other regional producers cannot.

    In addition to scarce supply, according to traders, the fresh Vietnam-grown varietal has higher transportation costs, and is more difficult to preserve than frozen imported goods, so the price is higher.

    “In July-August, when this fruit is in full season, and output is high, the price will cool down,” Khuong predicted.

    Musang King durian is oval, not too large, and weighs 2-4 kg. The husk is dark green and has huge spikes. A groove in the middle of the peduncle and stem characterizes the species.

    Lees ook:

  • Port operators want container fee raised

    Port operators want container fee raised

    Seaport operators want the government to increase its terminal handling charge as they claim they lose billions of dollars annually at the current level, which is lowest in Southeast Asia.

    In a proposal to the government by the Private Sector Development Committee, port operators say that the current terminal handling charge (THC) in Vietnam is only 40-50% that of other countries in the region.

    Le Quang Trung, Deputy Chairman of the Vietnam Logistics Association, said that international shipping firms collect a THC of $140 per 20-foot container from their customers, but only pay Vietnamese seaport operators $45-52, or 37% of the total.

    Cambodian port operators, however, get as much as $90 per container, and operators in Singapore receive $115.

    According to international norms, 80% of the THC must go to the port operator, and therefore Vietnamese operators should get $80-100 per container instead of $45-52 as current, Trung said.

    Port operators have therefore proposed that the Ministry of Industry and Trade raise the THC in Vietnam gradually to reach the same level as other regional countries.

    A 15-20% increase annually for four or five years will bring THC in Vietnam to the regional average of $101 per container.

    Lees ook:

  • Boeing recruits interns in Vietnam

    Boeing recruits interns in Vietnam

    U.S. aerospace company Boeing interviewed 40 applicants at a number of universities in Vietnam and hired two.

    Luu Van Thuan, head of the faculty of aviation engineering, Vietnam Aviation Academy, said the world’s largest aircraft manufacturer worked with the academy to interview two of its alumni on March 27.

    Three students in Hanoi University of Science and Technology’s aviation engineering and mechanics training program, including one in just the second year, were interviewed.

    The universities said this is the first time Boeing executives have come from the U.S. to universities in Vietnam to hire interns.

    The successful candidates will work for two months in Hanoi and one month in the U.S. this summer, participate in hardware and software designing and preparing technical documents for aircraft systems and read maintenance manuals for flight operations and aircraft maintenance.

    They may also be involved in solving problems related to aircraft structure.

    Nguyen Binh Thang, who graduated from the Vietnam Aviation Academy last January and then joined it, was one of its two alumni to be interviewed.

    “Being interviewed by Boeing is the dream of aviation students,” he said.

    Nguyen Thi Huong, 23, the other, said Boeing recruits interns for aviation engineering and electrical-electronics. “This is a very good opportunity because the company only used to recruit students in the U.S.”

    Boeing looked for candidates with a grade point average of 3.5 or higher, relevant work experience and an IELTS score of 5.0 or higher.

    Thang and Huong said the interview was in English, and lasted 15-20 minutes.

    The Vietnam Aviation Academy said in the next 30 years Southeast Asia would need some 4,000 aircraft, with Vietnam being the biggest operator.

    Boeing has been in Vietnam since 1995.

    Lees ook:

  • Asahi Beverages to close Green Beacon brewery

    Asahi Beverages to close Green Beacon brewery

    Asahi Beverages will close its Green Beacon brewery’s operations in North Brisbane in around 10 weeks.

    The closure follows several years of “excellent growth” for Green Beacon, according to the company, and is part of a plan to ensure the company’s growth by boosting brewing capacity across various sites.

    Asahi Beverages will invest in Green Beacon’s original location at the Teneriffe brewpub to increase brewing capacity. The majority of Green Beacon brewing will be moved to Asahi Beverages’ other Fire & Earth Ventures locations in Australia, including Pirate Life in Port Adelaide and 4 Pines in Brookvale, NSW. These additional sites are equipped to handle Green Beacon’s continued expansion.

    The closing of Geebung will lead to the departure of three full-time and two casual employees. The remaining Geebung employees will be transferred to the Teneriffe microbrewery.

    “Geebung has been our home for more than six years and has driven much of our recent success,” said Green Beacon’s GM Richard Shrosbery.

    “However, we are experiencing significant growth and have now outgrown the site. Today’s announcement means Green Beacon can continue its growth trajectory by unlocking capacity constraints, which will help ensure we continue to get it to lovers of Green Beacon everywhere.”

    The company said it will assist employees affected by redundancy and is looking at replacement roles within the Asahi Beverages group.

    Last year, Asahi Beverages acquired Byron Ba premium mixer brand StrangeLove as consumer demand for better-for-you beverages grows.

  • Kinder Bueno rolls out new chocolate eggs for Easter

    Kinder Bueno rolls out new chocolate eggs for Easter

    Confectionary giant Ferrero has rolled out a new Kinder Bueno chocolate range for Easter.

    The company described its new range as “addictive as they sound” and “filled with zero regrets”.

    “What’s more important than winning your family’s easter egg hunt?” said the chocolatier. “We make sure you arrive with the ultimate chocolate advantage to entice more action in the hunt”.

    The Easter chocolate range features:

    • Kinder Bueno Eggs: A milk hazelnut filling surrounded with crispy wafer and coated in chocolate.
    • Kinder Easter Hollow Figures 35g: Available in six spring figures.
    • Kinder Joy 20g.
    • Kinder Mini Eggs 100g.

    The new Kinder Bueno Easter Range is available at Coles, Metcash, and Target.