Tag: asia

  • Uncertainty continues over opening date of Apple’s first store in Singapore

    Uncertainty continues over opening date of Apple’s first store in Singapore

    Apple fans who have been looking forward to the tech giant’s first brick-and-mortar store in Singapore may have to wait a while longer, with the completion date of construction work at its expected location along Orchard Road apparently pushed back.

    According to an information board put up outside the construction site at Knightsbridge mall, the latest expected completion date of Jan 30, 2017 – already a three-month postponement from the previous date of Oct 31, 2016 – was covered up, with no new date provided.

    The information board with details on the expected completion date seen outside the construction site at Knightsbridge mall on Dec 9, 2016.

    A check with workers and security guards at the site noted that the ongoing construction work is unlikely to wrap up by next month. One construction worker said that delays were unavoidable after the site was issued with a three-week stop-work order in late October.

    In response, a spokesperson from the Ministry of Manpower (MOM) confirmed that it did issue a full stop-work order to the work site’s contractor on Oct 24, citing “unsafe conditions relating to work at height, traffic management, scaffolding, electrical installation and lifting operations that were observed during an inspection at the worksite”. A separate check on MOM’s website showed that the stop-work order was issued against Legend (Singapore) Interiors Pte Ltd.

    MOM said the order has since been lifted, and when this reporter visited the site on Dec 9 and Dec 13, workers could be seen working on the sides of a three-storey-high facade covered up by grey-coloured boards.

    Apple declined to comment. It also declined to reveal an official opening date for the store or provide an update for the number of employees it is hiring locally.

    Its senior vice president of retail and online stores, Angela Ahrendts, confirmed last November that the tech giant had begun hiring staff for its retail store in Singapore.

    The store, which is expected to take up four levels at Knightsbridge mall, will be Apple’s first physical retail presence in Singapore, as well as Southeast Asia. Apart from an online store, Apple currently sells its products via authorised premium resellers such as EpiCentre and Nubox in Singapore.

    Speculation about the Singapore’s first Apple store emerged in October last year, when fitness club Pure Fitness informed its members that it would be shuttering its four-storey gym facility at Knightsbridge mall to make way for a “future Apple store”.

    So far, there have been few details about the retail outlet apart from a statement released last November noting that the Apple Store will be powered by solar energy from developer Sunseap Group.

    As for the exterior, a previous post by local blog My Apple Singapore wrote that wooden crates bearing the logo of German glassmaker Seele were placed outside the construction site in July. Given that Seele has been providing Apple with the glass panels for its overseas stores, the upcoming store in Singapore could be fitted with a similar glass facade, according to the blog, which began tracking developments at the construction site since last November.

    Ongoing construction work seen at the site of Apple’s first retail store in Singapore at Knightsbridge mall on Dec 9, 2016

    Construction work for the store commenced in May this year, according to the information board, and was initially expected to be completed by Oct 31.

    SUCH DELAYS “NOT UNCOMMON”

    However, industry observers said that such delays are not uncommon given the work required to fit out a huge space and Apple’s emphasis on customer experience in its flagship stores.

    “For a huge flagship store occupying 30,000 sqft of prime space along Orchard Road, some degree of fit-out delay is not uncommon given the complexity of the design and layout,” said Cushman & Wakefield’s research director Christine Li.

    “Plus, we are talking about the world’s most valuable brand – a brand that pays a lot of attention to detail and strives to be perfect. So, I think they want to make sure they don’t rush into things and that everything is in order,” she added.

    Industry observers say retailers who are staying put at Knightsbridge mall, such as Abercrombie & Fitch, may get a boost from the extra shoppers that the Apple Store will bring in. 

    While it remains unclear when the Apple Store will officially open its doors, Ms Li said that it will be a boost for Singapore’s prime shopping belt, as well as neighbouring stores such as casual wear chain Abercrombie & Fitch, when it does.

    “It will be good news given that so far we’ve been hearing so much negative news such as store closures at Orchard Road. Crowds attracted to the Apple Store will also benefit surrounding stores,” she explained.

    Ms Li cited the example of Japanese retail brand Uniqlo, which launched a sprawling flagship store at Orchard Central in September. “Definitely, we saw more shoppers at the new flagship store that helped auxiliary stores like the F&B outlets nearby as there will usually be some spillover effect from the high traffic.”

     

  • Jollibee Foods quits China restaurant stake

    Jollibee Foods quits China restaurant stake

    “The divestment is part of the company’s intention to concentrate its resources on businesses with greater potential,” Jollibee said in its statement, essentially admitting the business was not performing to expectation.

    The company will now focus on “larger businesses in China”.

    SPW has grown from 34 stores to 71 under Jollibee ownership, mostly located in Nanning in Guangxi province in China’s south. The Philippine company expects to raise US$13 million from the sale, with installments staggered over two years.

  • China retail sales peak in November

    China retail sales peak in November

    China has reported November was its strongest month of retail sales growth for the whole year.

    While official government figures are usually greeted with a degree of scepticism by retail company executives, they are the only data available to build any sort of picture on the giant’s market’s trading fortunes.

    According to the latest data, total retail sales climbed 10.8 per cent representing the fastest pace since December 2015 and exceeding expectations of a 10.1 per cent rise.

    According to Reuters news agency, the figures were boosted by a higher than usual number of motor vehicle sales (During Alibaba’s 11.11 promotion, 100,000 new cars were sold) along with home appliances and cosmetics.

    Luxury retailers like Kering Burberry and TIffany are among those reporting improved fortunes in the mainland this year after a three-year long decline.

    “Part of that is due to the falling value of the yuan, which diminishes the appeal of spending abroad and encourages more domestic spending,” Wang Jianhui, an economist with Capital Securities in Beijing, told Reuters.

  • Zenfone Concept Store launches

    Zenfone Concept Store launches

    Asus has chosen the Philippines to launch its Zenfone Concept Store, in Glorietta 2, Makati City.

    Tech brand Asus has chosen the Philippines to launch its Zenfone Concept Store, in Glorietta 2, Makati City.

    More Zenfone concept stores will follow throughout the Philippines next year.

    “Zenfone has become a game changer in the smartphone landscape in the Philippines since being introduced in August 2014,” says Asus Philippines system group country manager George Su.

    The new store features all the latest smartphone releases from the Taiwanese company as well as accessories.

  • Singapore Airlines launches A350 service to Manchester/Houston

    Singapore Airlines launches A350 service to Manchester/Houston

    Mancunians will be able to sample Singapore Airlines (SIA) latest A350 from January 17. SIA’s new three-class (business, premium economy and economy) twin-jet enters enters service on the Singapore-Manchester-Houston route.  It will replace the larger B777-300ER which currently plies the route.

    But the B777-300ER had the advantage of providing first class which will be unavailable with the A350.

    I cannot talk about Houston, but in the case of the UK regions there is not the same demand for a top premium cabin as there would be from London.

    Mancunians now have non-stop access both to Singapore and Houston. (Previously the Manchester-Singapore service was one-stop service via Munich. Singapore-Houston previously operated via Moscow).

    Both are hub airports so the canny traveller can fly onwards to Asia/Australasia (in the case of the former) and Texas and the Southern US in the case of the latter.

    Interestingly, for Mancunians seeking fast flights to Perth/Australia,  what SIA is offering out of Manchester takes away the advantage of Qantas’ non-stop London-Perth service which launches in 2018.

    Why fly Manchester-London-Perth with British Airways/Qantas (with a Heathrow terminal change)  when SIA can take you Manchester-Singapore-Perth ?

    Schedules are daily except Monday and Thursday.

    • Flight SQ052 will depart Singapore at 0215 arriving into Manchester the same morning at 0840. Its flight continues to Houston at 1010 arriving in the Texas city at 1430.
    • Return flight SQ051 departs Houston at 1850 to arrive into Manchester the following morning at 0840. It then departs at 1110 and, after another overnight aloft, it arrives into Singapore at 0755.
  • Despite scandal, duty-free licenses to be issued Saturday

    Despite scandal, duty-free licenses to be issued Saturday

    The Korea Customs Service will begin evaluations for the much coveted duty-free licenses today, and the winners will be announced Saturday.

    Despite the political scandal surrounding the process, five bidders have been competitively releasing their plans for investment to gain favor in the selection process.

    Three out of four of the new licenses are allocated for conglomerates, for which five retail giants – Lotte Duty Free, HDC Shilla Duty Free, Shinsegae Duty Free, SK Networks and Hyundai Department Store – submitted bids in early October.

    Lotte Duty Free, which seeks to reopen a store at the Lotte World Tower in Jamsil, said it would invest 2.3 trillion won ($1.97 billion) over five years to establish tourism infrastructure in southern Seoul. The company intends to use the Seokchon River and Olympic Stadium nearby to organize a cherry blossom festival in April and a fall festival in November. The Lotte Duty Free in Jamsil would be the largest duty-free store in Korea.

    SK Networks wants to revive the Walkerhill Duty Free in Gwangjin District, near Seoul’s eastern end. One of the company’s grand plans is to open a resort spa that would add to the area’s scarce tourist sites. It was the only bidder to propose tourism development outside of Seoul in Gapyeong, Gyeonggi, which is popular with domestic tourists with venues such as Namiseom Island and Petit France.

    Shinsegae Duty Free promised to invest 350 billion won to expand the tourism infrastructure around Seocho and Gangnam District, near where it hopes to build its second branch. The company’s strength is in its location, Banpo-dong, in Seoul’s center. Its plans for tourism and cultural development are focused on promoting infrastructure in the area, such as pedestrian passages around landmarks like the Seoul Arts Center in Seocho-dong or the Floating Island, and a premium gourmet festival in Itaewon.

    HDC Shilla Duty Free, run by Hotel Shilla and Hyundai Development Company, has focused on IT and Korean culture, to attract young tourists to a second branch at Samseong-dong in Gangnam, southern Seoul. HDC Shilla’s focus is to collaborate with small and midsize shops in its second branch, particularly in cosmetics, accessories and food.

    Hyundai Duty Free is going for another shot to open in COEX. Its initial plan submitted in October said the company would invest 30 billion won in Gangnam’s tourism in the next five years. Hyundai’s plan focuses on Korean pop culture, including an idol theme park beside COEX. Last month, it said its 50 billion won plan includes support for Gangnam’s cultural development and donations to the needy.

    Meanwhile, 61 independent and opposition party lawmakers released a statement Tuesday requesting that KCS postpone selecting duty-free operators until suspicions about Lotte and SK Group are resolved. The companies are being investigated for promising licenses in return for donations this year to K-Sports Foundation, a nonprofit linked to President Park Geun-hye’s confidante Choi Soon-sil.

    However, the Korea Customs Service said that many companies have been awaiting a decision, which cannot be delayed over political matters. The office said Wednesday it would rather take back licenses afterward from companies found to have conducted illegal practices for the selection.

    It also said it will release detailed evaluations of companies selected as winners. In November 2015, the office was criticized after Lotte and SK lost their licenses without clearly being informed why, raising doubts on the procedure’s fairness.

  • Visa buys payment authentication company

    Visa buys payment authentication company

    Visa has arranged to to acquire e-commerce payment authentication provider CardinalCommerce to improve the company’s cross-platform payments security capabilities.

    The transaction, which is subject to the customary closing conditions, is expected to close in Visa’s second fiscal quarter 2017. Financial terms have not been disclosed.

    Visa already provides Cardinal’s services to merchants and acquirers through its CyberSource merchant and acquirer enablement platform. Additionally, Visa will draw upon its global relationships and presence to drive international expansion of Cardinal’s products and services.

    As Visa plans to integrate tokenization into Visa Checkout over the next 18 months, the addition of Cardinal is expected to allow closer integration of 3-D Secure and delivery of new fraud mitigation capabilities to merchants.

    Cardinal will continue to operate and serve all of its clients as a wholly-owned subsidiary of Visa, and its authentication platform will continue to support a broad range of payment brands and partners across the industry. Co-founders Tim Sherwin and Chandra Balasubramanian will stay on as leaders of the Cardinal team.

    “This strategic acquisition combines Visa’s industry expertise and Cardinal’s critical role in payment authentication to bring added security to online transactions, reduce fraud and support digital commerce, which is the fastest growing commerce segment today,” Visa SVP of risk and authentication products Mark Nelsen said.

    “By helping merchants, acquirers, and issuers better distinguish between good and bad transactions, Visa is in an even better position to strengthen consumer trust in digital payments, help merchants grow their businesses, and accelerate innovation in commerce.”

  • Le Saunda sales dips 8pct y-o-y in Q3

    Le Saunda sales dips 8pct y-o-y in Q3

    Footwear manufacturer and retail company Le Saunda Holdings announced a decrease of 8 per cent in its total retail sales year-on-year for the third quarter of its 2016/2017 financial year, according to a filing with the Hong Kong Stock Exchange.
    Same store sales of the retailer also saw a 7.1 per cent drop year-on-year for the quarter, which when coupled with a 40.5 per cent year-on-year drop in the Group’s e-commerce business sales led the group’s diminished performance during the period compared to last year.

    As at the end of the group’s financial quarter, November 30, Le Saunda had a total retail network comprised of 822 outlets spread throughout Mainland China, Hong Kong and Macau. However, on the back of the declines in sales, the Group has closed 75 outlets compared to the same period of last year.

    Of the total outlets, 737 are in self-owned and in operation in Mainland China, Hong Kong and Macau while 85 outlets are operated under franchising agreements in Mainland China.

    According to the Group’s previously launched interim financial report, its total revenue for the first six months of fiscal 2016/2017, from March to August of this year, showed a decline of 13.8 per cent year-on-year to RMB651.2 million (US$94 million) from RMB756 million during the same period of the previous fiscal year.

    In addition, the Group’s profit dropped 24 per cent year-on-year to RMB45.6 million during the first half of the fiscal year.
    The Group is also engaged in the design and development of handbags and fashion accessories in Mainland China, Hong Kong and Macau.

  • TPG wins auction to be Singapore’s fourth cellco

    TPG wins auction to be Singapore’s fourth cellco

    Australian fixed line operator TPG Telecom has won the new entrant spectrum auction to become Singapore’s fourth mobile network operator.

    TPG submitted the winning bid of S$105 million ($72.8 million) for a provisional allocation of 60 MHz of spectrum in the 900-MHz and 2.3-GHz spectrum bands.

    TPG outbid MyRepublic to secure the new license and spectrum.

    Final allocation of the spectrum will require payment of the relevant spectrum fees, and the commencement date of spectrum rights will be scheduled after the planned general spectrum auction to be held in the first quarter.

    Regulator IMDA said the new spectrum rights are expected to commence on April 1 at the earliest. TPG will also be eligible to compete in the general spectrum auction if the operator so chooses.

    As a condition of its bid, TPG will need to provide nationwide street level 4G coverage within 18 months of the new spectrum rights commencing, road tunnels and in-building coverage within 30 months and coverage of MRT underground stations and lines within 54 months.

    Singapore MVNO Circles.Life, which launched earlier this year as the market’s fourth postpaid mobile service provider, has welcomed the move.

    “Circles.Life welcomes IMDA’s on-going efforts to support competition and look forward to TPG Telecom’s entry into the telco space in Singapore… We hope TPG Telecom will continue to support our ambition to bring more innovation and choice to the market,” the company’s co-founder and director Rameez Ansar said.

    “In the short-term, the impact may be limited until TPG Telecom enters the market in about two years from now after building the required infrastructure. Meanwhile, we are focusing on targeting the data savvy segment.”

  • SM founder Sy receives lifetime achievement award

    SM founder Sy receives lifetime achievement award

    Enterprise Asia, a non-governmental organization based in Malaysia that organizes the Asia Pacific Entrepreneurship Awards (APEA), honored retail pioneer Henry Sy, Sr. with a Lifetime Achievement Award last Dec. 1 at a ceremony held at the Dusit Thani Manila. Sy is the first and only Filipino to receive the Lifetime Achievement Award from Enterprise Asia, which is on its third year of organizing the awards in the Philippines.

    The APEA recognizes and honors business leaders who have shown outstanding performance and tenacity in developing successful businesses within the Asian region. The awards also aim to gather leading entrepreneurs across Asia to spur greater innovation, fair practices and growth in entrepreneurship. Today, the award covers Malaysia, Indonesia, Brunei, Singapore, Hong Kong, Thailand, India, China and the Philippines.

    “On behalf of Mr. Henry Sy, Sr. and his family, we thank Enterprise Asia for this honor and prestigious Lifetime Achievement Award,” Mr. Jose T. Sio, SM Investments Corporation (SM) executive vice president and chief finance officer said. Among the notable recipients of the Lifetime Achievement Award for the past 10 years were: Yeoh Tiong Lay, the founder of YTL Corporation, the largest conglomerate in Malaysia;Teh Hong Piow, the founder of Public Bank Berhad, one of the largest banks in Malaysia; Food magnate Sam Goi, chairman of Tee Yih Jia Group of Singapore; Ciputra of PT. Ciputra Group, one of the leading property developers in Indonesia;Mokhtar Riady, founder of the Lippo Group of Indonesia; and real estate magnate Hui Wing Mau of the Shimao Group of Hong Kong to name a few.

    Sy is the founding Chairman of SM. To many, he is the Father of Philippine Retail, having successfully built SM into a dominant player in the country’s retail industry with its highly progressive and innovative approach. Like his Chinese name predicted and with his vision, passion and hard work, Mr. Sy transformed Shoemart, from a humble shoe store, into SM, now a highly recognizable brand and icon with interests and presence in retail, banking, and property development. Enterprise Asia is a non-governmental organization dedicated to recognizing entrepreneurship development across the region.

  • Swarovski nail salons returning to DFS Group stores

    Swarovski nail salons returning to DFS Group stores

    This Christmas Swarovski is offering a nail treatment service to shoppers at DFS Group stores. The jewellery brand is returning to the T Galleria by DFS stores to offer its nail service for free to shoppers who have spent a certain amount.

    The service, which is available on select dates across December, will take place in T Galleria by DFS stores in Canton Road, Hong Kong, City of Dreams and Shoppes at Four Seasons in Macau.  The pop-up nail salons will offer the Swarovski “sparkling nail service” along with a Star Ornament crystal for shoppers.

    Director of Travel Retail Asia Pacific at Swarovski, Karen Tse, said: “Female shoppers at Swarovski have traditionally taken a more subtle approach by opting for our classic crystal jewelry and iconic pieces. However, over the past year, we’ve observed the trend in Travel Retail shifting towards a desire for customization and personal styling.

    “Our customers now want to create their own style so as to express their identity in a bold new way, and seeking a sales assistant’s advice has become an important step in the purchasing process.  We’re thrilled that our partnership with T Galleria by DFS has empowered them to fulfill this aspiration.”

    Swarovski is set to unveil a new fall/winter 2016 collection from brand ambassador Karlie Kloss, which features stars and icicle motifs.

  • Fitness trackers still dominate wearables market

    Fitness trackers still dominate wearables market

    Basic wearables, primarily comprised of fitness bands, accounted for 85% of the wearables market in the third quarter of 2016, IDC estimates.

    The total market grew 3.1% year-over-year during the quarter, with wearables shipments reaching 23 million.

    IDC said much of the increase in shipments for fitness trackers was attributed to the launch of newer models, an expanding user base, and an enticing summer season that allowed people to step out of their homes.

    The research firm expects the momentum for basic wearables to continue for the remainder of 2016 as the holiday season is now in full swing. However, it said smart wearables capable of running third party apps will likely continue to struggle in the near term.

    “It’s still early days, but we’re already seeing a notable shift in the market,” commented Jitesh Ubrani, senior research analyst for IDC Mobile Device Trackers.

    “Where smart watches were once expected to take the lead, basic wearables now reign supreme. Simplicity is a driving factor and this is well reflected in the top vendor list as four out of five offer a simple, dedicated fitness device. Meanwhile, from a design perspective, many devices are focusing on fashion first while allowing the technology to blend in with the background.”

    Ramon Llamas, research manager for IDC’s Wearables team, also noted that user tastes change, so will their needs.

    “That’s the opportunity for smart wearables with multi-functionality and third-party applications, both for consumers and business users. To get there, we need to see more intuitive user interfaces, seamless user experiences, standalone connectivity, and applications that go beyond health and fitness and into personal and professional productivity,” he said.

    During the quarter, Fitbit once again led the market. IDC expects Fitbit to continue leading the pack in the near term and said that the acquisition of Coin and the potential to expand into the smartwatch category present an opportunity for the company to be more than just a fitness brand.

    Xiaomi’s new Mi Band, on the other hand, includes heart rate tracking and is priced well below any competition, making it more suitable for impulse buying than any other fitness band. Garmin captured the third position as the company with one of the widest portfolios among all the vendors in this market.

    While Apple’s decision to launch its second-generation watches in mid-September did contribute to its year-over-year decline in 3Q16, IDC said the primary reasons for the downturn were an aging lineup and an unintuitive user interface.

    During the quarter, Samsung released two new models, Gear Fit 2 and the Icon X. Around the globe, the company was able to move large volumes of its latest wearables thanks to bundles offered with the Note 7 and other Samsung smartphones.

  • BMW November sales up 5.9 percent, Mercedes poised to overtake

    BMW November sales up 5.9 percent, Mercedes poised to overtake

    Daimler’s Mercedes-Benz is on track to overtake rival BMW to take the title of the world’s biggest luxury carmaker, sales figures for November released on Monday showed.

    November sales of BMW branded luxury cars were up 5.9 percent to 177,740 taking year-to-date sales to 1,824,490. By contrast Mercedes-Benz passenger car sales were up 12.7 percent to 182,602 increasing year-to-date sales to 1,893,619.

    Sales of BMW’s core brand reached 1.91 million in 2015 on strong demand for sports utility vehicles like the X5, the 11th year in a row the Munich-based carmaker clinched the title in 2005.

    Mercedes sold to 1.87 million cars in 2015, compared with 1.80 million luxury vehicles sold by Volkswagen’s Audi

  • Quest for franchisee for Focus Brands

    Quest for franchisee for Focus Brands

    Focus Brands is seeking franchisees to develop its Cinnabon and Auntie Anne’s brands in China as part of its international growth strategy.

    Founded in 1985, Cinnabon is a cinnamon roll bakery with 580 outlets in 52 countries. Auntie Anne’s, founded in 1988, is a soft-pretzel chain with more than 530 locations in 29 countries.“China is a priority market for us based on consumer insight research that shows our freshly baked products have a broad appeal,” says Focus Brands International president Nicolas Boudet.

    “Both brands have received numerous industry accolades, with Cinnabon being named a top-five quick-service brand in Technomic’s Millennials’ Favorite Chains report. Auntie Anne’s was recognised as a Top 50 limited-service restaurant brand by QSR Magazine.

    This year Cinnabon has opened 64 international locations with plans to add more than 70 next year. Auntie Anne’s has opened 89 international outlets this year and aims for 100 more next year.

    Other Focus Brands franchises include Carvel, McAlister’s Deli, Moe’s Southwest Grill and Schlotzsky’s.

    Based in Atlanta, Focus Brands runs more than 1300 franchised ice-cream shops, bakeries, restaurants, and cafes outside the US. It grew its total international system-wide sales by 10.5 per cent last year.

    Founded in Seattle, Cinnabon has more than 1200 franchised locations worldwide, primarily in high-traffic venues such as shopping malls, airports, train stations, travel plazas, entertainment centres and military establishments.

    At its more than 1600 locations internationally, Auntie Anne’s mixes, twists and bakes pretzels all day long in full view of guests.

  • Telstra excluded from Australian 700-MHz auction

    Telstra excluded from Australian 700-MHz auction

    The Australian government will exclude the market’s largest operator Telstra from taking part in a digital dividend auction of 700-MHz spectrum, on the advice of telecoms regulator ACMA.

    ACMA held that because Telstra already owns more than 50% of available low-band spectrum, a victory in the auction would only increase its dominance.

    Communications minister Mitch Fifield has instructed ACMA to set a reserve price for the auction of $1.25 ($0.93) per MHz per head of population covered.

    The terms of the auction will stipulate that no operator can own more than two 20 MHz blocks of spectrum in the 700 MHz band.

    Setting such a cap could allow both Telstra rivals Optus and Vodafone Australia to secure more spectrum to compete against the incumbent. If major fixed line operator TPG chooses to participate the operator would also be better positioned to roll out a fourth 4G network in Australia.

    TPG spent A$13.5 million ($10 million) for 2×10 MHz of 2.5-GHz spectrum in 2013. The operator also recently won the auction to become Singapore’s fourth mobile network operator after securing 60 MHz of 4G spectrum.

    The digital dividend auction will involve 2×15 MHz of the 700-MHz spectrum freed up from the migration from analog to digital broadcasting, but left unsold during the initial digital dividend auction in 2013.