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Tag: asia

  • Aeon to open mall in Myanmar by 2023

    Aeon to open mall in Myanmar by 2023

    Japan’s largest retailer Aeon is to open a shopping mall in Yangon, Myanmar’s largest city, in 2023. The Japanese retailer will partner with Myanmar conglomerate Shwe Taung Group to set up a joint venture in the country this year.

    The new Aeon shopping mall will target Myanmar’s middle class, which is predicted to increase significantly during the next few years.

    The opening plan is part of the group’s strategy to strengthen its position in the Southeast Asian market. Aeon Group generated US$315 million profit from the region’s operations in the fiscal year to February last year.

    “We will continue our targeted investment in Asia,” said Akio Yoshida, president of Aeon. “I think [Myanmar] will trace the same trajectory Japan once traveled toward a ‘100 million middle class.’”

    Yangon has a population of 5.2 million and was the nation’s capital until 2006.

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  • Philippine Airlines to operate Manila-London roundtrip for stranded travellers

    Philippine Airlines to operate Manila-London roundtrip for stranded travellers

    Philippine Airlines will fly a single round-trip flight between Manila and London Heathrow on April 4 “in response to an urgent public need amid Covid-19 quarantine situation,” the airline said in a notice posted on its website.

    While the airline initially announced that it would pause all remaining international flights from March 26 until April 14 last week, it will now operate this one-off service to the UK to help stranded travelers return home.

    The Manila-London Heathrow flight (PR720) will be allowed to carry only UK nationals to comply with “current Covid-related UK immigration restrictions”, the airline said.

    The return leg (PR721), on the other hand, will be allowed to carry only Filipinos, their foreign spouse and children, and officials from governments and international organizations.

    The service will be operated with an Airbus A350-900, which has seats for 295 passengers.

    Hundreds of thousands of British citizens are thought to be struggling to get home from overseas after the UK government advised all British travelers to come home as soon as possible on March 23. Many airlines are operating a small number of flights to help stranded passengers return home after countries around the world closed their borders to help stop the spread of the coronavirus.

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  • Harley-Davidson Files For Cafe Racer

    Harley-Davidson Files For Cafe Racer

    Harley-Davidson has filed two new designs with the European Union Intellectual Property Office, using the same liquid-cooled Revolution Max engine powering the upcoming Harley-Davidson Pan America and Harley-Davidson Bronx models. The two new designs will be built on the same Revolution Max platform, and one of them will be a cafe racer styled model, and the other a flat track-inspired model. While the design drawings clearly indicate that the engine to be used on both models will be the Revolution Max v-twin, there’s still no indication of what the engine displacement will be.

    Harley-Davidson’s first adventure tourer, the Pan America uses a 1,250 cc version of the Revolution Max v-twin, while the Bronx streetfighter uses a 975 cc version. The Revolution Max v-twin is expected to get four different engine displacements, ranging from 500 cc to 1,250 cc. Prototype photos of both these new designs also surfaced, apparently from a Harley-Davidson dealer conference from September 2019.

    The photos of the prototypes look quite similar to the design drawings, but final production models may be slightly different. From earlier experience, Harley-Davidson design drawings, like the one of the Pan America and Bronx streetfighter, have gone on to be finalized for production. So, we won’t be surprised if the latest drawings also make it to the future model line-up, as Harley-Davidson looks to shake off the “heavyweight cruiser” tag and explore different segments of motorcycles.

    Designs of the flat track-inspired model show a design similar to something that could rival the Indian FTR 1200, with a similar tubular swingarm, as well as flat-track inspired high-mounted twin exhausts. The bike has a similar headlight like the Harley-Davidson Fat Bob, and like the FTR 1200, has a similar-looking rear tire-hugging number plate bracket attached to the swingarm. The bike looks like a single-seater, but Harley-Davidson could offer an aftermarket pillion-friendly seat as well once the bike gets closer to production.

    The second design is a cafe racer styled model, with a short windscreen and cafe racer-styled headlight. The exhaust is a two-into-one design, with the end can coming out on the right side of the bike, The design of the cafe racer shares the dual disc brakes and inverted fork with the flat track design, but the rear has a more traditional swingarm, and twin shock suspension set-up. The H-D Pan America, and the Bronx are yet to go into production, followed by the Custom 1250 cruiser, possibly sometime in 2021. But from these latest designs, it’s apparent that Harley-Davidson, despite the problems the brand is facing, is looking ahead to the future with several new models in the pipeline.

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  • Central Food Hall employs robot in coronavirus fight

    Central Food Hall employs robot in coronavirus fight

    Thai supermarket Central Food Hall has begun using UV-C Disinfection Robots to sterilize stores in a move to combat coronavirus transmission.

    The firm is the first supermarket in the region to implement disinfection robots, certified by the WHO and CDC to sanitize areas around 360 degrees to destroy more than 99.99 percent of all pathogens within seconds.

    The robot is currently being deployed at Central Food Hall Central Chidlom while the store is closed. Plans are afoot to introduce robots at other Tops Market and Central Food Hall branches in the interests of employee and customer safety.

    UV-C light is considered to be without harmful side effects on the food and products in the store. The technology has been in use for more than three years in Thai hospitals, factories, companies, hotels, schools and other places that need effective disinfection.

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  • K11 Musea launches global fashion showcase K11 Antonia

    K11 Musea launches global fashion showcase K11 Antonia

    Hong Kong cultural-retail hub K11 Musea’s fashion destination Muse Edition has launched a multi-brand flagship, K11 Antonia.

    The fashion center (situated on the site of the former New World Centre) is collaborating with influential fashion-forward style maker Antonia Giacinti in hosting the more than 5700sqft space, now featuring around 50 curated spring/summer looks. It will debut both co-founders Antonia Giacinti’s & Maurizio Purificato’s hand-picked selection and a signature blend of high fashion, streetwear and ready-to-wear brands.

    “Hong Kong is a global fashion Hub,” said Giacinti. “We have always thought of Hong Kong as the most interesting international city to open a new Antonia location… With the launch of K11 Antonia today, it marks our shared vision in which together we nurture different forms of fashion cultures and dialogues from around the world.

    “Through K11 Musea, we believe this global fashion venture will further enrich our consumers’ cultural-retail experience in the world of fashion. We are certain that it will be a success.”

    K11 Antonia will retail a broad range of brands, including Bottega Veneta, Burberry, Chloe, Miu Miu, Jacquemus, Balmain, Alessandra Rich, The Attico, Alanui, Ambush, Kolor and White Mountaineering.

    The interiors of the store’s three distinct retail spaces are designed by Italian architect Vincenzo de Cotiis, and feature mirrors, smokey glass and rustic-stained glass, steel, brass and marble with gold, gray, beige and blurred-pink tones.

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  • South Korean department stores restore sales campaigns

    South Korean department stores restore sales campaigns

    South Korean department stores will no longer postpone their sales programs due to the coronavirus pandemic.

    In a move analysts say is aimed at restoring turnover as the coronavirus essentially comes under control in the country, stores are looking to restore volumes which plunged last month.

    Top department stores are under pressure to clear seasonal stock after drops of 10 and 20 percent in year-on-year sales in February and March respectively.

    “The most important thing is when the new coronavirus will die out here,” Eugene Investment analyst Joo Young-hoon told the Korea Times. “As soon as Korea overcomes it, the sales of department stores here will rebound faster than that of any other sectors,” he said.

    South Korean department stores are expected to resume their expected sales events over the coming fortnight, after delays in the midst of the coronavirus outbreak and called to implement social distancing.

    The stores are running various promotional programs to attract customers while at the same time attempting to spread out visits to prevent crowds and the risk of viral transmission.

    Industry analysts have predicted a strong bounce-back in the region’s retail sector once the pandemic recedes.

    Meanwhile, in Japan, department store operators have reported their worst year-on-year sales declines on record.

    J.Front Retailing said sales at its Daimaru Matsuzakaya department store chain fell by 43 percent last month, while rival Takashimaya reported a 36-per-cent fall.

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  • Don Don Donki opens second store in Thailand

    Don Don Donki opens second store in Thailand

    Amidst the Covid-19 outbreak, Japanese discount-variety store Don Don Donki has continued ahead with the opening of its latest branch in Bangkok, Thailand as part of its international expansion.

    The Japanese retailer, known at home as Don Quixote, entered Thailand in February last year, opening a Donki Mall in the expatriate haven of Thonglor.

    The new store, located at The Market mall, will retail more than 130,000 items including fresh groceries and daily necessities.

    The new branch also features its private-label Jonetsu Kakaku with an in-store dining space. However, in the short term, the branch will provide only take-away services for cooked food due to the coronavirus pandemic and government limits on cafe operations. To further adjust to the current situation, the retailer will limit the number of store entrances and exits and will control the flow of customers into the store. The temperatures of staff and customers will be checked at numerous touchpoints around the store and baskets and cashier counters will be sterilized frequently.

    Chairman Shimanuki Yosuke says the company had imported large stocks of products in advance of the opening, and before the coronavirus pandemic broke out.

    Meanwhile, in Hong Kong, the daily customer count of the company’s stores there tripled during recent weeks as locals stocked up on imported goods, unable to travel abroad.

    There are widespread rumors that Don Don Donki is about to open its fifth outlet in the territory, at Central. The news leaked out during rental leasing negotiations for nearby properties.

    Local media is reporting that the retailer has its eye on two-storey premises at 100 Queen’s Road Central, spanning 17,800sqft. Earlier reports had the company opening more stores at Tseung Kwan O and Causeway Bay, to complement its flagships in Tsim Tsa Tsui and Tsuen Wan.

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  • Huawei CEO would like Google to submit its apps on Huawei’s AppGallery store

    Huawei CEO would like Google to submit its apps on Huawei’s AppGallery store

    Huawei just released its new flagship line, the P40 series, and with it promised some appealing camera-related features for smartphone photography. Unfortunately for Huawei though, last year, the US government added the China-based company to a trade blacklist, making the company unable to do business with American companies and therefore, there are no Google apps on its new flagship devices.

    However, Huawei’s CEO, Eric Xu, stated that the company hopes Google’s apps would be available in the AppGallery Store, Huawei’s version of the Google Play Store. He compared it with the case of Apple’s App Store, where Google submits its apps for Apple’s approval. If Google submits its apps on the AppGallery, this could make them available for download on Huawei smartphones.

    Although the lack of Google apps on Huawei smartphones might not be a problem for the company’s home market, given the fact that Google apps are prohibited in China, this seems like a big minus for international customers. Eric Xu said that the blacklist caused Huawei a $10 billion benefit shortfall for 2019, meaning the company’s revenue was $10 billion lower than its target.

    Last month, Google submitted a request for permission to work with Huawei, but it can take quite some time for such procedures to be completed, even if the US government was to approve Google’s request. For now, there is no prospect that Google’s apps will come pre-installed on Huawei smartphones in the near future.

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  • HSBC, StanChart to Scrap Dividends on BOE Orders

    HSBC, StanChart to Scrap Dividends on BOE Orders

    Recession fears drove the Bank of England to call the U.K.’s largest banks, including HSBC and Standard Chartered, to scrap dividends and share buybacks.

    Alongside Lloyds, Royal Bank of Scotland and Barclays, the two largest British lenders in Asia made statements to temporarily halt shareholder payouts and share buybacks for 2019 and throughout 2020 following discussion with the Bank of England. The five largest banks in the U.K. had originally planned for 7.4 billion pounds ($9.3 billion) in dividend payments over the next two months.

    In addition, the BoE also ordered banks to scrap cash bonuses to prepare for a likely recession.

    The PRA also expects banks not to pay any cash bonuses to senior staff, including all material risk-takers, and is confident that bank boards are already considering and will take any appropriate further actions with regards remuneration over coming months, said the BoE’s head of prudential regulation authority Sam Woods in a statement.

    Whilst workers will undoubtedly feel the brunt of the economic malaise, numerous efforts are being made to shift some of the burden to others including corporates and their shareholders.

    In addition to dividend cuts, banks have also committed to retaining jobs with HSBC, as well as a raft of global banking giants, recently announcing temporary halts to job cutting. The measures will retain costs that were due for unloading and over 60,000 jobs.

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  • Hyundai’s Global Sales Drops By 21% In March As Coronavirus Hits Demand

    Hyundai’s Global Sales Drops By 21% In March As Coronavirus Hits Demand

    Global sales for Hyundai Motor Co tumbled 21% in March to an 11 year-low for the month as the coronavirus pandemic batters demand and forced several of its overseas plants to suspend production.

    The South Korean automaker reported provisional global sales of 308,503 vehicles for March.

    The top automotive news of the day – Hyundai has launched the 2020 Verna in India. Royal Enfield Meteor 350 spied. Mahindra to manufacture face shield for medical personnel.

    Hyundai Motor closed its Montgomery, Alabama, assembly plant last month after an employee there tested positive for the disease, and also suspended production at plants in the Czech Republic and India over the virus.

    Plants in South Korea are, however, running at close to full capacity.

    Credit ratings agency Moody’s Investors Service said in a report last month it expects global sales for the auto industry to slide 14% this year. It placed the ratings of Hyundai and its affiliate Kia Motors Corp on review for a possible downgrade.

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  • Citi Extends Relief Payouts to Hong Kong

    Citi Extends Relief Payouts to Hong Kong

    Lower-income staff at Citi will receive payouts in line with chief executive Michael Corbat’s call to extend global support during the crisis.

    Hong Kong-based employees with an annual base salary of HK$470,000 (US$60,622) or less will receive a one-time payment of HK$8,000 ($1,032). This follows the bank’s announcement last week to provide economic support to 75,000 staff globally including $1,000 to each worker in the U.S. with an annual salary of $60,000 or below.

    This initiative is for colleagues who are more likely to face economic hardship in the current situation,» said Angel Ng Yin-yee, Hong Kong and Macau chief executive at Citi, in a statement. «We hope that our support will help lighten their load as they cope with other challenges and family priorities during this time.»

    Citi also made a similar announcement in Singapore, highlighting relief measures to support retail and institutional clients such as interest and fees waivers, tenure extensions, alternative settlement arrangements, and loan payment reduction programs. And in support of the Singapore government’s latest financial relief program, Citi will also offer clients the option to convert outstanding unsecured balances from their Citi credit cards into low-cost term loans.

    «We recognize the financial stress to our clients as a result of the COVID-19 situation,» said Amol Gupte, ASEAN head and Singapore country officer at Citi, expressing support for clients and the city-state’s government.

    For the time being, global banks continue to demonstrate support for the global economy, especially the economically vulnerable, amidst a persistent coronavirus pandemic. In addition to payouts or loan-related relief, the industry has committed to temporary job cut halts, dividend cancellations and even free online classes for homebound children.

  • Apple Store workers are being asked to work from home

    Apple Store workers are being asked to work from home

    Last month, a leaked internal memo revealed that Apple plans on reopening on a staggered basis, the 458 retail stores it owns outside of China. Apple hoped to start opening these locations during the first two weeks of this month, although whether this happens remains to be seen. In China, the company has reopened all 42 Apple Store locations as the country claims to be on the mend.

    While the Apple employees that man the 458 closed stores are stuck at home, Bloomberg reports that the company is asking some of them to work from home answering technical support questions as part of the AppleCare team. Those who want to participate must set up a workspace in a quiet room in their home with the ability to accommodate the 27-inch Mac that Apple will send to workers. These makeshift workspaces also must have a strong internet connection, and the employees need to go through a two-week virtual training course.

    The report notes that Apple Store employees were sent forms to fill out in order to apply for the technical support jobs. Those who aren’t interested in answering these calls from home are asked to explain why. Despite this, Apple claims that the program is not mandatory and that all of its retail employees are still getting paid their full paychecks and receiving their benefits whether they participate in the program or not.

    But those who cannot work from home have concerns. They worry that by not agreeing to answer AppleCare and technical support calls from their home, they will look bad in the eyes of their managers. To be sure, there are Apple Store employees happy to help out during the crisis although others don’t understand why they are being asked to do this work. This latter group notes that Apple already promised them their full pay and benefits just for staying home.

    While Apple had started the work from the home program a few weeks ago, over the last week it has reached out in earnest to Apple Store employees seeking to fill the gaps in the AppleCare system. On Friday, the tech giant’s retail chief, Deirdre O’Brien, said that the recruiting “has been going great.”

    Most of Apple’s engineers are working from home and Apple has been reimbursing these employees for desks and computer monitors needed to set up a home office. Apple is also sending tips to employees on how best to create an ergonomic environment. And it also is allowing, with permission from those in the higher ranks of the company, some engineers to take home unfinished hardware and software to work on. The COVID-19 pandemic is resulting in the delay of new products. Apple did launch its two new iPad Pro tablets a couple of weeks ago, although they reportedly were manufactured back in January. The budget-priced iPhone 9, originally rumored to be introduced on March 31st, is now expected to first see the light of day on April 15th with its release a week later. And today, contract manufacturer Foxconn said that it still hopes to have the upcoming 5G 2020 iPhone models ready in time for the holiday shopping season.< Apple originally closed its Apple Stores in China on February 3rd. As new domestic infections started to decline sharply in the country, Apple reopened these locations on March 13th. The very next day, all of the firm's brick and mortar stores outside of China were shuttered. At first, Apple said that those stores would be closed until March 27th, but that was later revised to "until further notice." And while the aforementioned leaked memo from O’Brien discusses reopening all closed stores this month, Apple might take a more conservative path and keep the stores closed for a few additional weeks.

  • Gome Retail boosts GMV, cuts losses as restructure continues

    Gome Retail boosts GMV, cuts losses as restructure continues

    Gome Retail says its revenue last year fell, but it nearly halved its annual loss as its restructuring program continued to pay dividends.

    Gome Retail is in the midst of a major transition and restructure from a brick-and-mortar-dominated format into a multichannel digital business anchored around its online platform. It is also expanding its physical store network into low tier cities and rural locations across China.

    The company says its gross merchandise volume (GMV) doubled last year. GMV from stores in rural parts of China soared by 61 percent and from new businesses such as home solutions and kitchen cabinets integrating electrical appliances, increased by 86 percent. GMV from smart products increased by 43 percent and from services by 61 percent, the company said.

    Despite a 7.57-per-cent decline in total sales to RMB 59.48 billion (US$8.376 billion), the company’s loss attributable to shareholders fell from RMB4.887 billion ($688 million) in 2018 to RMB2.590 billion ($365 million) last year.

    “The booming new business indicates that the group’s strategic transformation is progressing well,” the company said in an earnings statement.

    During the year ahead, it plans to accelerate its strategy to penetrate into lower-tier markets, using a franchising model.

    “This will enable Gome to seize market share with low operating costs.”

    The company plans to build 100 franchise stores this year, with a target turnover of RMB100 million ($14 million) for each.

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  • Dean & Deluca US heading towards bankruptcy

    Dean & Deluca US heading towards bankruptcy

    Thailand’s Pace Corporation has finally filed for the bankruptcy of its Dean & Deluca US business after all of its North American stores were shuttered last year.

    According to documents submitted with the filing, Dean & Deluca US has liabilities as high as US$500 million, and assets of just $50 million. But the company, which has declared it has only one employee now, says it has a plan to reconfigure the business and reopen stores under a new business model.

    In Asia, Dean & Deluca is opening cafe-centered retail spaces in urban locations including in Thailand, Japan and the Philippines, along with airport stores in partnership with Lagardere Travel Retail. When that partnership was struck in late 2018, the two companies planned 150 stores over five years. Cafes have subsequently opened in Hong Kong International Airport.  Airport stores in Bangkok trade significantly higher than those in city locations, Pace said at the time.

    However the new style Dean & Deluca retail model in Asia is vastly different from the US model, focused on coffee, smoothies, pizzas and light meals. It may be the model the company hopes to take to the US.

    The original Dean & Deluca US store opened in Soho in 1977, earning the nickname “museum of fine food”. It claimed to be the first retailer in the US to sell radicchio, balsamic vinegar and sun-dried tomatoes. But over time its exclusivity waned – as one food writer observed: “You can buy extra virgin olive oil on Amazon now”.

    The company’s website shows it has two stores operating in Hawaii, which may be franchised and unrelated to the parent company.

    Pace bought the company for US$140 million in 2014, including a network that at one point reached more than 30 stores in the US. By May 2018, however, the US network was down to just nine stores and by last July there were only four.

    The Chapter 11 bankruptcy petition filed in the New York court this week was signed by Pace Corporation CEO Sorapoj Techakraisri. Among liabilities listed in the filing were Pace, owed $250 million, a $45 million loan from Siam Commercial Bank, a $2 million US tax debt and $230,000 owed to Thailand’s finance ministry.

    Last month, Dean & Deluca opened a new store in Japan with a local franchise partner, (pictured above), and another in Bangkok.

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  • Siam Piwat uses online media to connect shoppers and retailers

    Siam Piwat uses online media to connect shoppers and retailers

    Bangkok shopping mall operator Siam Piwat has launched new retail services to engage and support customers and retail tenants during social distancing.

    The new services include Call & Pick up, Eat at home and OneSiam Chat & Shop, which allow customers to shop online via live chat at OneSiam Line official accounts, shopping centers’ social media and OneSiam mobile application.

    “Amid the current situation, OneSiam has worked in line with the government’s attempts to cease the spread of Covid-19,” said Chanisa Kaewruen, senior deputy MD of Siam Piwat.

    With Call & Pick up service, loyalty program members can place orders for grocery shopping via phone and collect their groceries at the pick-up point. Meanwhile, the Eat at Home service allows customers to order food from more than 50 restaurants at Siam Paragon, Gourmet Garden, Paragon Food Hall and IconSiam.

    OneSiam Chat & Shop is the company’s new omnichannel service, providing live chat that connects customers with shopping advocates to make purchases on OneSiam’s Line account and its other social media channels.

    “Social media has been our major platform to communicate and keep our customers updated with interesting and relevant information,” said Suthida Maleipan, deputy MD at Siam Piwat. “This is in tune with our social commerce strategy and the Chat & Shop service is expected to increase customer engagement to over 25 million followers next year.”

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