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Tag: asia

  • Trump claims to have a deal in concept with Oracle, Walmart, and TikTok

    Trump claims to have a deal in concept with Oracle, Walmart, and TikTok

    U.S. President Donald Trump told reporters gathering to see him off to a campaign rally, that he has approved “in concept” Oracle’s bid for the U.S. operations of TikTok. The short-form video app, owned by China’s ByteDance, has been accused by the Trump administration of being a national security threat because it could pass along personal data from U.S. customers to the Communist Chinese government in Beijing. Trump signed an executive order that forced ByteDance to divest itself of TikTok’s U.S. operations this coming Monday, September 21st

    Last week, after several U.S. companies had expressed interest in TikTok such as Microsoft, Oracle, and Walmart, Oracle’s plan was given the nod by ByteDance. However, the administration felt that the plan didn’t go far enough to protect them better than 50 million active U.S. TikTok users. As a result, the U.S. said that it would ban downloads of TikTok in the states starting on Monday morning. Those who have already downloaded the app before Monday would be allowed to continue using it until November 12th unless a deal was approved by the U.S. But everything might have changed following this afternoon’s announcement. What isn’t clear at this point is what the president means when he says that a deal has been approved “in concept.”

    While things are still up in the air at this hour, Trump says that the deal will also include Walmart and hinted that TikTok would be “totally controlled” by Oracle and Walmart, something that he repeated several times this afternoon. “I have given the deal my blessing,” the president said. “If they get it done, that’s great. If they don’t, that’s okay, too.” Previously, the president wanted the companies involved in acquiring TikTok’s U.S. operations to make a payment to the U.S. Treasury. But such a deal would be illegal, something that Trump was not aware of. Still, the president spoke with Oracle Chairman Larry Ellison and Walmart Inc. Chief Executive Officer Doug McMillon on Friday, telling both executives that he still wanted a cash payout for the U.S. government.

    A new company called TikTok Global will be created, according to those in the know, and it will help create a $5 billion fund for U.S. education. Discussing this contribution, Trump stated that “They’re going to be setting up a very large fund. That’s their contribution that I’ve been asking for.” The new TikTok Global will probably be headquartered in Texas and 25,000 people will be hired according to the president. But that figure could not be independently verified. Facebook had 45,000 employees last year while Twitter had 4,900 employees. There is speculation that TikTok Global will hold an IPO and go public within the next year. The president said about TikTok Global, “It will have nothing to do with China, it’ll be totally secure, that’ll be part of the deal. All of the control is WalMart and Oracle, two great American companies.”

    ByteDance will retain TikTok’s algorithm which is used to decide which videos are available to certain TikTok users. China recently announced a regulation that prevents other countries from using any algorithm created in the country. Oracle will get full access to review TikTok’s source code and any updates to make sure that there are no backdoors involved that could be used to steal U.S. subscribers’ personal data.

    TikTok has been a popular destination for teens and others looking to pass time during the pandemic. Users can create 15 or 60-second videos showing lip-synching, dancing, pranks, protests, and more. The app has been installed over two billion times from the App Store and the Google Play Store.

  • Police investigate Saigon Beer copycat

    Police investigate Saigon Beer copycat

    Police in Ba Ria-Vung Tau Province are investigating a copyright infringement involving Saigon Beer by a former employee of its brewer, Sabeco. They found over 9,000 boxes of the Saigon Vietnam Beer with the brand name and packaging similar to that of the 43-year old Saigon Beer brand produced by Sabeco, the largest brewer in Vietnam.

    The beer is distributed by the Saigon Vietnam Beer Group Jsc., not a subsidiary of Sabeco. Its CEO, Le Dinh Trung, held several positions in Sabeco for years, including assistant to the deputy CEO and head of its legal department.

    Another person involved in the copyright infringement is Tran Thi Ai Loan, a distributor of Sabeco beer for the last four years.

    The original headquarter address of Saigon Vietnam Beer Group Jsc was registered at Floor 9, Vincom Building, 72 Le Thanh Ton, District 1, Ho Chi Minh City, the same as Sabeco. Although the Saigon Vietnam Beer Group Jsc. later changed its headquarters to a different location in Binh Thanh District, its beer packaging carried the old address, confusing customers.

    Authorities said Loan, as a legal representative, had signed a contract with BiVa Beer Brewer in southern Ba Ria–Vung Tau Province to produce the Saigon Vietnam Beer and started distributing the product in May.

    The same month, Sabeco requested the Vietnam Intellectual Property Research Institute to inspect the similarities between the packaging and brand name of the two beers. The institute concluded in June that there were signs of copyright infringement, following which Sabeco requested market authorities to intervene.

    Authorities later found thousands of Saigon Vietnam Beer boxes in the southern localities of Ba Ria-Vung Tau, Binh Phuoc, Soc Trang and Can Tho as well as the Central Highlands province of Dak Lak. Each box was being sold at VND159,300 ($6.91), nearly 12 percent lower than that of Sabeco’s Saigon Beer.

    Vu Tuan Chau, owner of BiVa Beer Brewer, told authorities that they had distributed a total of 4,400 boxes so far. Chau said they only produced the beer to the requirements of Saigon Beer Vietnam and was not aware of any copyright infringement. A lawyer representing Sabeco said that the infringement has damaged their brand’s reputation and misled customers into purchasing the wrong product. Sabeco is working with authorities to continue the investigation, the lawyer said.

    No comments were available from the representatives of Saigon Beer Vietnam at the time of going to print.

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  • Uniqlo launches initiative to recycle its products

    Uniqlo launches initiative to recycle its products

    Japanese apparel business Uniqlo has launched a recycling initiative aimed at reducing the footprint of its products being improperly disposed of.

    Called Re.Uniqlo, the program enables the business to recycle old clothes into new clothes, redistributing old clothes to people in need, and, in Japan only, recycling old clothes into fuel and materials.

    Goods to be recycled can be taken into Uniqlo stores and deposited within Re.Uniqlo boxes. All Uniqlo items are accepted, but the business asks that customers wash clothing beforehand and ensure there are no personal belongings included.

    “We collect second-hand Uniqlo clothes in stores for reuse and deliver them to people in need worldwide in the form of emergency clothing aid for refugee camps and disaster areas together with the United Nations Refugee Agency, NGOs and NPO,” Uniqlo said on its Re.Uniqulo website.

    “And recently, we have been actively recycling clothes into clothes, starting with our own products.”

    The business’s first recycled product, a down jacket, will be on sale later this month.

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  • Swarovski opens Crystal Studio concept store in KL, Malaysia

    Swarovski opens Crystal Studio concept store in KL, Malaysia

    Swarovski has launched Southeast Asia’s first Crystal Studio concept store, in Kuala Lumpur, Malaysia. Located in Mid Valley Megamall, the store offers interactive digital touchpoints throughout the store, including shop window screens and interactive tablets.

    Designed by Patricia Urquiola, the store concept “follows the last store redesign 10 years ago and heralds a new phase in Swarovski’s differentiated approach to the retail experience,” the company said.

    “The new Swarovski retail concept truly puts consumers at the center,” said Michele Molon, EVP omnichannel and commercial Oo/erations. “We are breaking the traditional distance between staff and customers, facilitating an interactive and continuous dialogue with them.”

    The store theme color is an incorporation of a warm color palette and Swarovski’s signature blue. Crystal Studio Malaysia houses a Crystal Bar, a station where customers can view new products with in-store experts.

    “Innovation, creativity, and the customer are at the core of this exciting new store concept,” said Robert Buchbauer, chairman and CEO, consumer goods business.

    “Before we started working on the aesthetics, we focused on functionality, with the ambition being to meet the digital demands of our consumers while offering them a unique and immersive brand and shopping experience,” he said.

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  • Arc’teryx Shanghai opens first global flagship

    Arc’teryx Shanghai opens first global flagship

    Performance apparel brand Arc’teryx has opened its first global flagship store in Shanghai, its largest store to date.

    Called the Arc’teryx Alpha Center, the store occupies an 8000sqft area, offering what the brand describes as an “experiential design and apparel from each of the brand’s performance, lifestyle, and Veilance collections”.

    “We wanted to create a shopping experience that was unique not only to our brand but also to our customers as well,” said Megan Cheesbrough, VP of Retail, Arc’teryx. “As a brand, we want to encourage everyone to enjoy the outdoors, and with this in mind, we’ve decided to bring the outdoors in by incorporating the concept of hut-to-hut touring into our store design.”

    The flagship features four different experiential huts. The Hardshell Hut is located at the store’s front, featuring a triangular kaleidoscope LED screen displaying views of the sweeping Canadian mountain landscape. The Gore-tex Hut features a “rain room,” allowing customers to try on and water-test the technical functions of Gore-tex products.

    While the Hardgoods Hut houses a selection of the brand’s hardgoods, the Brand Hut features a virtual reality module that changes seasonally, a community lounge, and an events board.

    “We want to create an unparalleled shopping experience at Arc’teryx Alpha Center, and one of the ways we could do this is to offer a selection of different products serving different purposes, all in one space,” said Cheesbrough. “Whether you’re looking for a pair of trail running shoes and a climbing harness, or an insulated hardshell and an urban-style coat, we want Arc’teryx to be available to everyone.”

    Arc’teryx operates 30 retail stores across China – 22 branded stores and seven factory outlets.

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  • Deliveroo Singapore kicks off partnership with Food from the Heart with a pledge of S$10,000 in donations

    Deliveroo Singapore kicks off partnership with Food from the Heart with a pledge of S$10,000 in donations

    Deliveroo Singapore today announced its partnership with Food from the Heart (FFTH), a charity organisation that is devoted to alleviating food insecurity through efficient distribution of food – an issue that affects approximately 200,000 of the population in Singapore.

    The long-term partnership is part of Deliveroo’s community-focused campaign in Singapore, No Child Goes Hungry, to tackle food insecurity among children, with focused initiatives around contributions to philanthropic causes and community service.

    #CleanPlateChallenge: Supporting FFTH to champion food waste reduction

    In the first initiative of the partnership, Deliveroo will be supporting FFTH’s food waste initiative, Clean Plate Campaign, and is calling for solidarity among its customers to join the fight towards zero food waste.

    From 28 September to 16 October, Deliveroo customers can show their support from home by taking part in a social media challenge, #CleanPlateChallenge. To participate, customers must finish their food, take a photo of their clean plate or takeaway box and upload it onto Instagram or Facebook with the hashtag #CleanPlateChallenge, and tag @deliveroo_sg and @foodfromtheheartsg (Instagram) / @foodheart (Facebook).

    Deliveroo will donate S$1 to FFTH for each submission, with donations totalling up to S$10,000. The donations will go towards beneficiaries of FFTH’s School Goodie Bag programme, which focuses on providing underprivileged primary and secondary school students and their families with food rations and better nutrition. The School Goodie Bag comprises food from different categories such as staples, vegetables and proteins and cooking essentials to ensure a well-rounded diet

    The Clean Plate Campaign was started by FFTH in conjunction with World Food Day, marked annually on 16 October, to raise awareness of the environmental and societal impact of food waste and to inculcate the habit of mindful eating. Food waste is a critical issue, especially since the amount of food waste generated in Singapore has increased by about 20% over the past ten years. In the last year alone, 744,000[2] tonnes of food was wasted – equivalent to two bowls of rice per person a day.

    “As a socially responsible company which delivers great tasting food to thousands of consumers’ doorsteps each day, food wastage is a cause close to our hearts. We are always seeking opportunities to give back to the communities we operate in and are determined to help contribute to efforts to reduce the amount of food waste in society. By teaming up with Food from the Heart, we want to inform and empower our customers to play their part in reducing food wastage, and at the same time, give back to those in need. The Clean Plate Campaign marks the first initiative of our long-term partnership with Food from the Heart. We look forward to continuing our support through the No Child Goes Hungry initiative to deliver real, tangible changes that will help our environment and the disadvantaged in society,” said Sarah Tan, Interim General Manager, Deliveroo Singapore.

    “We are deeply heartened that Deliveroo has stepped forward to join our cause of minimising food waste and feeding the hungry needy, more so during these challenging times. The generous donation will go a long way in bettering the lives of our young beneficiaries and their families through nutritious food.  We look forward to a most fruitful partnership in alleviating child hunger together,” said Sim Bee Hia, CEO of FFTH.

    “Times are tough and the School Goodie Bag food pack has helped me a lot. My kids like the food that I make with it and I don’t have to worry about them not having enough food. They can concentrate on their school,” said Amilah, a single mother and FFTH beneficiary.

    Deliveroo Singapore’s partnership with FFTH is the latest in a series of community focused tie-ups. Previous partnerships include WeCare@MarineParade, where Deliveroo riders delivered over 1,000 iftar meals to vulnerable Muslim families during Ramadan, TOUCH Community Services, where Deliveroo rallied customers, restaurants and riders to get behind the Meals-On-Wheels initiative, and social enterprise Glyph, which saw Deliveroo hosting quarterly Food & Cultural Exchanges and offering discounted Glyph membership fees for riders’ children.

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  • Push notifications for new episodes feature is finally coming to Spotify

    Push notifications for new episodes feature is finally coming to Spotify

    Spotify is now finally adding a crucial feature to its podcasts section, making users finally able to get notifications for upcoming new podcasts they have followed. Now, thanks to a new update, users will be able to benefit from this feature.

    It may seem evident for an app, supporting podcasts, to have notifications available if you would want to never miss a new episode of a show. However, at the launch of Spotify’s podcast section, and even months after that, Spotify did not offer this possibility to its users. In order to compete with the biggest in the podcast business, this is quite the necessary feature.

    Although not everyone would want to get push notifications, there’s a good amount of people that actually want to be among the first to listen to a new podcast episode of someone they like. Now, in order to benefit from this feature, you need to, quite understandably, follow the podcast series you want to get notifications for and then enable the feature.

    This new feature is available for both premium and free users of Spotify. The update is enrolling starting today for mobile devices, so you should be able to get it pretty soon.

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  • Benelli May Launch A New Four-Cylinder Motorcycle

    Benelli May Launch A New Four-Cylinder Motorcycle

    Benelli may showcase a brand-new sportbike with a new inline four-cylinder engine at the China International Motorcycle Trade Expo (CIMA) which will take place at Chongqing from September 19, 2020 till September 22, 2020. CIMA is set to be one of the only large motorcycles shows to be held this year, with both the EICMA and Intermot shows being canceled. Benelli, which is owned by Chinese giant Qianjiang Group, is set to showcase several new and upcoming motorcycle models at the CIMA.

    The brand is teasing the new bike and new engine on the Chinese language website, and there are no details available yet, other than what we can see from the images. And from the looks of it, Benelli will be unveiling a new motorcycle, as well as a new four-cylinder engine, although if both are related is not clear at this stage. The bike may not come fitted with the new engine and has been teased with the image of a covered motorcycle. And considering the image is not of a real motorcycle, it’s difficult to ascertain what kind of bike it will be. But one of Benelli’s most anticipated bikes is the slightly bigger adventure tourer, with a 800 cc parallel-twin engine, and it could very well be that, the new Benelli TRK 800, which will be unveiled at the show.

    If it’s indeed the TRK 800, which will be showcased at the CIMA, then the engine will probably be a standalone unveil. From the pixelated image, it’s not easy to make out the details of the engine, but what is clear is that it’s a four-cylinder motor with double overhead cams and liquid-cooling. From what we can make out, the engine doesn’t look like Benelli’s existing 600 cc inline-four, which is used in the Benelli TNT 600i, so this could be a new engine. The only question that remains is what kind of bike will this new four-cylinder engine be used on? From all indications, Benelli may be planning a new model offensive, apart from updating its existing line-up with new styling and feature updates. More details will be revealed at the CIMA.

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  • Foodpanda planning six locations in Japan

    Foodpanda planning six locations in Japan

    Food-delivery service Foodpanda is to launch in Japan, its 12th market in Asia.

    During the first phase of the launch, Foodpanda will roll out its service in six cities, including Nagoya, Sapporo, and Hiroshima. The move is part of Foodpanda’s strategy to strengthen its presence in Asia Pacific, with Japan one of the largest and most mature of the region’s consumer markets.

    The service has been launched in three cities – Kobe, Yokohama, and Nagoya – with Foodpanda saying it will commence in other cities from October 1.

    “This is a market we have long admired, and this market expansion is an important step in making food and grocery delivery accessible to everyone in Asia,” says Eric Wei, CEO at Foodpanda Japan.

    Foodpanda Japan will also invest to grow its quick-commerce, where customers will be able to get their groceries within 25 minutes. The Foodpanda app will also offer an in-store pick-up feature.

    The demand for food delivery in Japan has been increasing due to Covid-19. According to Statista Market Outlook, the online food delivery segment in Japan is expected to record 23.6-per-cent growth this year.

    “In the first half of this year, we expedited onboarding and doubled the number of merchants and riders on our platform across the region so their businesses can survive the economic impact, while rider partners can continue to earn a living,” said Jakob Sebastian Angele, CEO at Foodpanda APAC.

    The company said it aims to expand to more markets in the Asia Pacific region. Founded in 2012, Foodpanda operates in more than 300 cities across 12 countries.

  • Sale of China’s Burger King franchise at stake

    Sale of China’s Burger King franchise at stake

    TAB Food Investments is looking to sell its 50-per-cent stake in Burger King’s China operations, which could value the asset at more than $1.2 billion, according to Bloomberg.

    TAB Food is the largest global franchisee of Restaurant Brands International and runs more than 1200 Burger King locations across China. The business had expressed interest in launching an IPO for its China operations some time ago, though now may be investigating exiting the business entirely.

    According to sources, the deliberations are still at an early stage, and TAB could still decide to hold on to the business or revive the IPO plans which were postponed in 2018 with no reason given.

    An ongoing sale process isn’t underway, a TAB spokesperson told Bloomberg. The business is the biggest franchisor of Burger King globally and manages close to 2000 restaurants across China and Turkey.

    TAB also holds the rights to the Popeye’s Chicken brand, which has just opened its first store in Shanghai and is set to launch further 1500 in China over the next 10 years.

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  • New Wealth to Grow Distribution in Indonesia

    New Wealth to Grow Distribution in Indonesia

    The Singapore-based digital wealth engagement solutions provider has its sights on the retail and affluent banking segments in Indonesia.

    New Wealth has inked a strategic partnership with digital engineering firm HAXtech to distribute its solutions to banks, insurance, and fintech firms in Indonesia, the company announced in a press release on Friday.

    The partnership promises improved market access, faster project delivery, and enhanced in-country client support, New Wealth said in the announcement.

    CEO Löic Pitrou said the company is currently expanding its ability to deliver multiple digital finance projects in Indonesia to support the fast-growing digital savings and wealth management sector there.

    Pitrou, a digital finance strategy and Robo-advisory specialist, founded New Wealth company in 2018. Its senior management team includes head of the experience lab Sudhir Nain and chief technology officer Simon Mazas. The company provides sales and advisory tools and applications for both relationship managers and self-directed investors.

    Its clients and partners include Commonwealth Bank, Standard Chartered, Morningstar, Eastspring, and Savio, according to its website.

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  • Hero Electric Ties Up With GoWash To Provide Electric Scooters

    Hero Electric Ties Up With GoWash To Provide Electric Scooters

    Hero Electric has partnered with Nagpur-based doorstep vehicle washing and auto detailing service provider GoWash. As part of the partnership, professionals of GoWash will use customized Hero Electric NYX HS500 ER electric scooters fitted with a dedicated compartment box at the rear while going for doorstep detailing and washing service. GoWash aims to start with 12 washing vehicles and provide service to 1,500 customers in September 2020. Later, they will be deploying 50 washing vehicles and aim at providing service to 6,000 customers by November 2020 in Nagpur city.

    Speaking on the partnership, Sohinder Gill, CEO, Hero Electric said, “Hero Electric is proud to partner with GoWash as this collaboration further strengthens our mission of providing eco-friendly mobility solutions to people. Hero Electric has always been an advocate of adopting sustainable practices by using electric mobility and GoWash has proven to have the best expertise in auto-detailing services while nurturing environmental practices. With this, we aim to expand the horizon for the adoption of electric vehicles and are excited to support GoWash in its vision.”

    Yashwant Budhwani, Founder and CEO of GoWash said, “For us at GoWash, it is not about being the No.1; it’s about being the best. best in service to the customers as well as create the best employment platform. All in all, we want to make this planet a better living place.”

    GoWash plans to expand its operations to Bengaluru in 2021. Customers can book a service on the company’s smartphone application. Along with vehicle washing services, GoWash also provides where customers can avail ceramic and PU coating services at nominal rates.

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  • Top fried chicken restaurant chains post growth

    Top fried chicken restaurant chains post growth

    Vietnam’s three most popular fried chicken restaurant chains earned combined revenues of VND4.3 trillion ($185.5 million) last year, up more than 11 percent year-on-year. South Korean brand Lotteria recorded the highest revenues at VND1.68 trillion ($72.5 million), up nearly 8 percent year-on-year. It has the highest number of outlets in Vietnam at over 210 in more than 30 localities.

    Lotteria’s performance was an improvement with over the 2 percent growth rate recorded in 2018 and 2017, but smaller than the double-digit rate it enjoyed from 2014-2016.

    It was followed by American brand KFC with revenues of nearly VND1.5 trillion ($64.3 million), up 1.3 percent year-on-year. In 2018 and 2017 its growth rate was 7.5 and 18.3 percent respectively.

    KFC, the earliest of the three to enter Vietnam, has over 140 outlets in 32 localities. In third place, with revenues of VND1.1 trillion, was a Filipino brand Jollibee. With over 100 outlets, Jollibee posted the highest growth of the three at over 40 percent year-on-year.

    In the last three years, its annual growth rate has averaged over 37 percent, several times that of KFC and Lotteria. But of the three chains, only KFC posted a pre-tax profit of VND102 billion last year, its fourth consecutive profit-making year.

    Both Lotteria and Jollibee have been reporting losses in the last five years. Last year, the two chains reported losses of VND22 billion and VND10 billion, respectively.

    Market observers have attributed the slower growth of fast-food chains in recent years to changing eating habits among the Vietnamese, who are prioritizing health over convenience.

    Market research firm Nielsen had said earlier in a report that there was an increasing percentage of Vietnamese identifying health as a sign of success instead of richness. The rising number of food contamination cases and environmental issues have also prompted people to care more about health issues, it said.

    In 2018, there were 7,000 fast food outlets in Vietnam, a relatively insignificant number considering there are around 540,000 food and beverage businesses comprised of 430,000 street vendors, 80,000 restaurants, and 22,000 cafes and bars, according to Dcorp R- Keeper, a global company which provides technological solutions to food and beverage businesses.

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  • Apple India opening online store early next week

    Apple India opening online store early next week

    Apple India will open its online store in India on September 23, representing the tech giant’s first formal step into direct retailing in the world’s second-most populous country.

    In a statement, the US company said the online Apple Store would offer a full product range and ship nationwide along with finance and a level of customer support similar to that offered in physical Apple stores elsewhere in the world.

    “We’re proud to be expanding in India and want to do all we can to support our customers and their communities,” said Deirdre O’Brien, Apple’s senior vice president of Retail + People. “We know our users are relying on technology to stay connected, engage in learning, and tap into their creativity, and by bringing the Apple Store online to India, we are offering our customers the very best of Apple at this important time.”

    Besides selling products, the store will offer customers technical support and training in using and setting up Apple products, in either English or Hindi.

    The company said all online orders will be shipped via a contactless delivery process to preserve the health of staff during the Covid-19 pandemic.

    While Apple has been selling products through retail partners and distributors in India for more than 20 years, it has long wanted to launch a direct-to-consumer presence there. Until recently it was hamstrung by foreign investment laws in the state which require a minimum proportion of locally sourced components in products sold in overseas-owned retail networks. The company has steadily increased its manufacturing in India and now claims to support almost 900,000 jobs nationwide.

    The company continues to plan the opening of its first physical store in the country, most likely in Mumbai, with CEO Tim Cook promising in February it would open next year.

    Apple has an App Design and Development Accelerator in Bengaluru which supports thousands of local developers.

  • Juventus F.C. Partners Multi-Family Office to Grow Asia Fanbase

    Juventus F.C. Partners Multi-Family Office to Grow Asia Fanbase

    Hong-Kong-based Raffled Family Office will become the football club’s regional partner in Asia under a three-year deal inked this week.

    Under the partnership, the two sides will collaborate on a range of branding and marketing initiatives, and the Italian club’s first team will return to Asia, following visits to Singapore for friendly games in 2014 and 2019.

    At a media briefing earlier this week, RFO founder and CEO Chi Man Kwan said there will also be opportunities for its ultra-high-net-worth clients, business partners, and employees to catch Champions League games involving the Italian champions and meet its stars.

    Juventus opened its APAC marketing office in 2019, and like Raffles, has expressed a desire to grow its reach in Greater China.

    Both our Club and Raffles Family Office share a solid synergy in our embracing and nurturing family legacy and heritage. We believe this partnership will undoubtedly support both brands’ aims to expand their horizons in Asia, Giorgio Ricci, chief revenue officer of Juventus, said in an announcement.

    Founded in Hong Kong in 2016, Raffles Family Office currently has a 72-strong team across Hong Kong, Singapore, Taipei and Shanghai.

    Juventus begins its defense of the Serie A title on Sunday with a visit from Sampdoria.

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