Retail News CRM

Tag: asia

  • K-pop girl-group Twice to open first pop-up store in Singapore

    K-pop girl-group Twice to open first pop-up store in Singapore

    K-pop girl-group Twice is to open a pop-up store called Twaii’s Shop in Singapore this month, marking its first Asia stop after the theme stores in Korea and Japan.

    Located at *Scape between October 12 to 14, Twaii’s Shop will feature more than 30 exclusive Twice merchandise items, including the Candybong light stick and Twaii-design T-shirt.

    The Twaii’s Shop will also set up a special lucky draw for fans to win a Twice-autographed album if they spend a S$50 or more on a single receipt.

    The South Korean group successfully held three sold-out concerts in Singapore with the most recent Twice World Tour 2019 Twicelights in July at Singapore Indoor Stadium. They also just released a mini album called Feel Special.

    Lees ook:

    Lees ook:

  • Profit soars for Tesco in Asia

    Profit soars for Tesco in Asia

    Tesco in Asia has reported a 54.1-per-cent boost in operating profit to £171 million as the company accelerated its cost-saving initiatives in Thailand.

    Those reforms include distribution efficiency improvements and more focused, effective marketing activity.

    Tesco in Asia sales during the 26 weeks to August 24 grew 8.4 per cent year on year to £2.556 billion, although on constant exchange rates that growth was pared back to just 1 per cent. Like-for-like store sales fell by 1.3 per cent largely due to reduced sales of general merchandise.

    “We are focusing on differentiating our customer proposition in Thailand, across both large and small stores,” said CEO Dave Lewis in a review of the results. “We opened our first urban supermarket in June and our large store re-invention trial stores have been well received by customers, generating a sales uplift of 4.8 per cent.”

    He said trials of Tesco in Asia’s Express proposition in Thailand also proved successful.

    “We plan to roll out the enhanced offer to all Express stores. We have introduced 300 products in smaller pack sizes, added 100 products to our ‘ready to eat’ range and extended our ‘food to go’ drinks offer, in addition to maintaining our focus on fresh evening meal solutions.”

    “Own brand expertise and price investment on key fresh food products” led to positive sales growth in Malaysia, he said.

    Global group sales were flat at £28.3 billion during the first half, with operating profit up 25.4 per cent to £1.406 billion.

    Succession plan announced for CEO

    Declaring Tesco group’s turnaround program complete, chairman John Allan revealed Lewis will step down as CEO in the northern hemisphere summer next year.

    He will be replaced by Ken Murphy, who is currently chief commercial officer and president of global brands at Walgreens Boots Alliance.

    “Today’s results confirm that the Tesco turnaround has been delivered,” said Allan. “Under Dave’s leadership Tesco has transformed customer satisfaction and rebuilt the business. We can now move forward with renewed confidence. We have an exceptional leadership team, a very clear strategy, a re-invigorated brand and financial strength.”

    Lewis said his decision to step down was a personal one.

    “I believe that the tenure of the CEO should be a finite one and that now is the right time to pass the baton. Our turnaround is complete, we have delivered all the metrics we set for ourselves. The leadership team is very strong, our strategy is clear and it is delivering. The Tesco brand is stronger and customer satisfaction is the highest it has been for many years. Colleagues are doing an extraordinary job and their expertise shows in every store and channel every day.

    “With these firm foundations and a competitive, sustainable growth strategy in place, I have no doubt that Tesco will kick on again under new leadership next year.

    “When that time comes, I will watch progress from outside with interest, deep affection and pride. In the meantime, you can be sure that I will give the job everything I have until my very last day.”

  • Asia cited as Ted Baker heads to a loss

    Asia cited as Ted Baker heads to a loss

    UK fashion house Ted Baker has slumped into the red in the first half of the year, its position not helped by a 15.2-per-cent fall in sales in Asia.

    Global revenue was down by a more modest 0.7 percent (or by 2.5 percent in constant currency) to £303.8 million, but pre-tax profit turned from a £25 million surplus in the first half of last year to a loss of £2.7 million. The company took a £11.8 million one-off hit on the restructure of its Asian business, where it has appointed partners in Greater China and Japan, and £3.5 million relating to the purchase of a footwear business in January.

    Sales in Asia were £9.5 million and sales per square foot excluding e-commerce sales decreased by 4.6 percent.

    E-commerce concession businesses in China and Japan delivered sales of £1.4 million, down from £1.7 million, which represented 14.7 percent of Ted Baker’s Asian sales.

    Licensed stores across Asia continued to perform well with existing licence partners in Thailand, Singapore and India opening new stores. However, in Indonesia and South Korea, several partner stores were closed.

    Despite the loss, Ted Baker is optimistic about its future prospects, saying its Autumn/Winter collections have been well received and that it is excited about new product initiatives including monthly product drops and speed to market developments.

    “Despite the structural challenges and cyclical pressures on the industry, we remain confident in Ted Baker’s ability to navigate the market and further develop as a global lifestyle brand,” the company said in a results statement. “This confidence remains underpinned by the group’s flexible, omni-channel model, the continuing strength of the brand, and the skill, passion and commitment of our talented teams worldwide.

    “We are continuing to pro-actively manage the significant challenges impacting our sector including weak consumer spending, macro-economic uncertainty, and the accelerating channel shift towards e-commerce. However, we are not immune to these pressures which have impacted our financial performance during the first half of the year.”

    Emily Salter, retail analyst at GlobalData, said it was worrying that Ted Baker’s online sales had declined given its strong multichannel proposition.

    “The retailer can therefore not solely blame the troubles of the physical high street for its fall from grace, as it has previously performed strongly online even as retail revenue growth became more subdued. This points to more significant problems with demand for the brand and the impacts of regular discounting.”

    Salter says that for Ted Baker to be able to revive itself without its founder and former leader playing a key role, it needs to re-establish its brand identity, retain its loyal shopper base and reduce its reliance on discounting.

    “The retailer should take the opportunity to poach Karen Millen and Coast shoppers who are reluctant to purchase online, as the premium brands’ stores and concessions are now closed as a result of the acquisition by the Boohoo group. Ted Baker should review its sales channels, as it sells through department store retailers and online pureplays, leaving it exposed to the troubles of players such as House of Fraser and Debenhams. Moving its childrenswear license from Debenhams to Next in Spring 2020 will help to address this as Next’s leading online platform will be able to generate much stronger growth than the embattled department store,” she said.

    Lees ook:

  • PayPal to Enter Chinese Digital Payments Market

    PayPal to Enter Chinese Digital Payments Market

    With the acquisition of GoPay, PayPal will become the first foreign firm to enter China’s digital payments market.

    The People’s Bank of China has approved the acquisition of a 70-percent stake in Guofubao Information Technology Co. (GoPay) by Yinbaobao, a local subsidiary of payments platform PayPal, GoPay announced in a statement earlier this week.

    Foreign players have found it tough to break into China’s digital payment space to compete with local giants, though Beijing has promised to open up this market. With the acquisition, PayPal will be the first foreign firm to receive an online payments license in China, ahead of the likes of Visa and Mastercard, who have yet to get their licenses approved.

    We look forward to partnering with China’s financial institutions and technology platforms, providing a more comprehensive set of payment solutions to businesses and consumers, both in China and globally, PayPal CEO Dan Schulman said in a statement posted on its website, adding that the deal is expected to be finalized by the end of the year.

    GoPay, founded in 2011, is a joint venture between the China International Commerce Center (CIECC) and HNA Retailing Holding, a subsidiary of HNA Group.

    Lees ook:

  • OCBC, JCB Collaborate to Broaden Card Acceptance

    OCBC, JCB Collaborate to Broaden Card Acceptance

    The leading payment card issuer from Japan has announced a partnership to extend its reach in Singapore, bringing added convenience to cardholders in the region.

    JCB International, the international operations subsidiary of JCB, has announced a partnership with Overseas-Chinese Banking Corporation (OCBC Bank) to broaden the acceptance of JCB payment cards in Singapore, the two firms announced in a statement on Wednesday.

    This partnership brings added convenience to JCB cardholders in Singapore, Japan and Northeast Asia, and the «fast-growing card issuing base in Southeast Asia, the statement said. It also allows OCBC merchants to develop their business through a wider choice of payment schemes to attract more customers.

    This new partnership with JCB is an indication of our continuing work to establish a higher level of card acceptance that goes beyond Visa and Mastercard,» Desmond Tan, head of Group Lifestyle Financing, said, adding that the partnership is «an opportunity for OCBC to extend our comprehensive credit card network to a new consumer base.»

    JCB has 120 million cardmembers worldwide.

    Lees ook:

  • H&M profit soars in latest quarter

    H&M profit soars in latest quarter

    H&M’s pre-tax profit rose 25 percent in the latest quarter to US$506 million as the Swedish-headquartered global fast-fashion retailer trimmed its inventory and customers embraced its summer range.

    “The new season has got off to a promising start,” said CEO Karl-Johan Persson.

    Globally, net sales rose by 12 percent in the third quarter to $6.35 billion, helped by a 30-per-cent jump in online sales. In the US market, where it has been struggling, it cut prices on core lines to reduce inventory, and sales rose 19 percent.

    Kate Ormrod, lead retail analyst at GlobalData, said the results showed H&M’s strategic overhaul – in which it has embraced the shift away from physical retail to digital – is beginning to reap rewards.

    The increase in full-price sales and a reduction in markdowns resulted in the group’s first double-digit growth in operating profit and its first quarterly increase since the second quarter of 2016/17.

    The Swedish retailer now expects to only open around a net 120 stores this year, a further reduction on the 175 stores originally planned – although expansion in growth markets remains a priority. Ormrod said that while Persson says a ‘high level of activity’ remains in its transformation work, the scale and coverage of its investment, extending to almost all parts of its business, is notable, and signifies the evolution of the retailer as it strives to satisfy changing consumer demands.

    “This year has not been without its challenges, however, especially in the UK, and while it remains under pressure from value rivals as well as more frequent discounting from mid-market players, H&M’s proposition continues to resonate,” she said.

    Ormrod also praised H&M’s commitment to embracing sustainability.

    “Its longstanding commitment to sustainability sets it apart from other value players and with new initiatives such as green home delivery (for example via cars that run on biogas) in the Netherlands and trialing clothing rental in Stockholm in the autumn, H&M has found its niche which it can continue to exploit as consumer focus on sustainability grows.”

    However, she offered a cautious response to news leaked last month that H&M-branded stores are to trial selling third-party products.

    “While the idea holds merit to extend its reach and bolster appeal, with sister brands & Other Stories and Arket already selling external brands, taking on Asos and Zalando is a big ask, so third-party brands are unlikely to become a cornerstone of its proposition.”

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • AirAsia starts Kuala Lumpur-Belitung flights

    AirAsia starts Kuala Lumpur-Belitung flights

    AirAsia Group Bhd has began flying four times weekly services from Kuala Lumpur to Belitung. This is in addition to the daily flights between Jakarta and Belitung.

    AirAsia Indonesia deputy CEO Veranita Yosephine said AirAsia Indonesia has so far this year, launched new routes from Jakarta to Sorong, from Bali to Lombok and to Labuan Bajo.

    “To facilitate this expansion, the company has grown its fleet to include three new Airbus A320s which are based in Jakarta and Lombok. By year end, we will also take delivery of an additional two new aircraft,” she said in a statement today.

    To celebrate the new route, AirAsia is offering AirAsia BIG members special all-in fares from as low as RM89 from Kuala Lumpur to Belitung, from now until Oct 6, for travel from today until Feb 9, 2020.

    All-in non-member fares meanwhile, will start from RM94 for one-way travel, inclusive of taxes.

    AirAsia shares closed down 3 sen or 1.69% at RM1.74 today, with 8.05 million shares done, bringing a market capitalisation of RM5.82 billion.

    Lees ook:

  • Standard Chartered Hires Southeast Asia Private Banking

    Standard Chartered Hires Southeast Asia Private Banking

    Following the exit of Srinivas Siripurapu from Standard Chartered, the private bank has swiftly hired a replacement.

    Cedric Lizin joins the bank as its South and Southeast Asia private banking head, following his most recent stint as the Dubai-based head of wealth management at UBS. Andrew Ho, south and southeast Asia market head at the private bank will take on interim responsibilities until Lizin joins later this year.

    The bank has been facing a flurry of regulatory hiccups including the most recent news that it was reviewing roughy 8,000 client accounts from its Dubai arm due after regulators exposed a severe lack of know-your-client data ranging from wealth source to even current address or phone numbers.

    In addition to regulatory challenges, the private bank also faces a high level of staff dissatisfaction, according an internal survey.  When asked if they would recommend others to work for Standard Chartered’s private banking business, the internal metric scored negatively, a Bloomberg report noted.

    And possibly as a means of improving morale, senior manages in the region recently delivered handwritten thank you cards to staff. The bank subsequently furthered the exercise by asking employees to write letters praising each other during a team bonding session.

  • BMW Customers Can Give Real-Time Approvals For Service And Repairs With New Smart Video App

    BMW Customers Can Give Real-Time Approvals For Service And Repairs With New Smart Video App

    BMW India has announced introducing a new mobile application that will allow customers to give real-time approvals for service and repairs. Called the BMW Smart Video, the new BMW exclusive app allows the technicians at the dealership to make a video of the vehicle explaining the service/repair requirements and share the quotation online. Customers receive a link where they can understand the service requirements through the video and provide approval online without the hassle of visiting the dealership again.

    Designed to enhance BMW’s aftersales service experience, the company says by digitizing the aftersales service process, it ensures that there is complete transparency and offers faster turn-around time. In fact, BMW India claims that the new BMW Smart Video solution has already benefited more than 10,000 customers with a high rate of customer satisfaction.

    Talking about the new BMW Smart Video App, Rudratej Singh, President and CEO, BMW Group India said, “BMW is an immensely successful brand not only because of its best-in-class products but also because of its unparalleled aftersales service standards. Trust and transparency are the core BMW values that naturally extend in all our customer interactions. Leveraging new-age digital solutions, we are building numerous services and solutions that will further enhance interaction between our customers and their beloved machines. BMW Smart Video is a fine example of how an innovative solution helps our customers easily understand the technical aspects of their vehicles and its servicing. Thus, creating a joyful ownership experience.”

    The BMW Smart Video application is already live in the BMW network in 50 countries across the world, including Australia, US and UK, among others. Now, the new BMW Smart Video is also available at BMW dealerships in India.

    Lees ook:

  • Thai Cafe Ama​zon opens first China outlet

    Thai Cafe Ama​zon opens first China outlet

    Thai coffee chain Cafe Amazon has launched its first outlet in China.

    The new cafe has opened at a Sinopec-branded petrol station in the Guangxi provincial capital of Nanning.

    Cafe Amazon is owned by Thai petrol firm PTT Oil and Retail Business (OR), which is aiming to expand the chain globally. The Chinese operator is OR subsidiary PTT OR China (Shanghai), which will roll out the chain at other Sinopec petrol stations nationally.

    China is the 10th market in which the brand has launched.

    Lees ook:

    Lees ook:

  • Shopmatic acquires CombineSell to consolidate its leadership position in the e-commerce space

    Shopmatic acquires CombineSell to consolidate its leadership position in the e-commerce space

    International e-commerce company, Shopmatic has acquired 100% of CombineSell, a Software as a Service (SaaS) platform that automates & simplifies multichannel e-commerce selling by aggregating popular online marketplaces into just a single platform.

    The acquisition follows Shopmatic’s strategy of consolidating its position in a fragmented e-commerce enabling software sector. The Singapore-based e-commerce enabler had previously acquired a 50.1% stake in retail management and POS solution provider Octopus, to unlock the omnichannel growth strategy for its merchants. Now, Shopmatic has brought Singapore’s top-ranking multichannel e-commerce

    CombineSell leverages innovative technology to enable merchants to sell on multichannel e-commerce platforms, and drive campaigns for business growth. With this acquisition, Shopmatic’s merchants will now be able to leverage the power of selling on multiple channels while managing their online business through a single dashboard. CombineSell has 30+ ecommerce channel integrations available – including those with Lazada, Shopee, Qoo10, Amazon, eBay, Carousell, Redmart, Xero, etc, from a single, centralised platform and has generated over $150M of GMV in the last 12 months. CombineSell was co-founded by June Yong, Amanda Ho & Gerald Lam and has over 30+ people based across Singapore & Malaysia.

    Commenting on the acquisition, Anurag Avula, Co-Founder & CEO, Shopmatic, said, “In our continued bid to drive digital success for our merchants, we have been growing our suite of services on the platform, and are very happy with the acquisition of CombineSell.  This gives us a significant advantage in enabling the overall growth & success of all merchants on our platform. In just a single click, merchants will now have access to selling across numerous channels in various countries across South East Asia. The acquisition of CombineSell further consolidates our position as clear market leaders in digitizing SMBs & Individual Entrepreneurs in APAC.”

    Loh June Yong, Founder & CEO, CombineSell added, “At CombineSell, we understand that growing an online business can be rife with challenges. To the same end, we have been making it easier for sellers on our platform to grow and manage their business across multiple marketplaces. Shopmatic has cemented its position as a powerhouse e-commerce platform for small businesses and individual entrepreneurs. Following the latest development, we are excited to join forces with Shopmatic and together enable the online success of businesses, in the emerging markets.”

    SEEDS Capital, the investment arm of Enterprise Singapore, has been an early investor of Shopmatic. On the acquisition, Geoffrey Yeo, General Manager, SEEDS Capital, said, “Having invested in Shopmatic earlier on, both SEEDS Capital and Enterprise Singapore have been working closely with Shopmatic on its expansion plans in Asia, especially to markets such as India and Southeast Asia where the e-commerce needs are growing rapidly. SEEDS Capital is pleased to have connected Shopmatic with CombineSell, which led to this win-win collaboration for both companies. The acquisition will allow Shopmatic to grow its e-commerce capabilities, and further augment the integration of its e-commerce channels to better serve its customers.”

    Shopmatic continues to create industry disruptions with features, offers and pricing, focused on enabling the success of sellers on its platform. With over 250,000 merchants on its platform, Shopmatic has been setting the trend for enabling sellers to be successful digitally.

    Shopmatic’s customer-first approach has unlocked tremendous growth figures. Following the launch of its disruptive transaction pricing model, Shopmatic clocked a 174% QoQ revenue growth and a 160% hike in transactions on its platforms within the April-June quarter. Empowered by a fervent response from small businesses and aspiring entrepreneurs on its platform, Shopmatic is geared up to bring half a million merchants online in the current financial year.

    Lees ook:

    Lees ook:

    Lees ook:

  • Huawei’s global flagship opens in Shenzhen

    Huawei’s global flagship opens in Shenzhen

    Huawei’s global flagship store has opened in Shenzhen’s MixC World as the brand’s first direct-sale store globally.

    The 1300sqm store, which has been in preparation since 2017, allows customers to explore Huawei’s latest and most comprehensive product range, as well as experience a fast 5G connection, relax and meet up with friends.

    “Shenzhen is an international technology and innovation centre, we believe that Huawei Global Flagship Store will become the new connecting hub between Huawei and customers,” said Huawei Consumer Business Group CEO Richard Yu. “MixC World is a gathering place where fashion, technology and liberal art meet together and Huawei’s global flagship store will become Huawei’s city living room connecting the consumers.”

    The three-storey building combines traditional Chinese and Western architectural philosophies, with a facade that adopts a large area of high transmission glass with rounded corners and a unique semi-open staircase connecting the square and the surrounding environment.

    Free courses are offered by the Huawei community covering topics such as photography, videography, sports and health care. Technical enthusiasts and app developers can learn how to build the Huawei global ecosystem from technical experts.

    “We no longer call it a retail store, we call it community plaza, an open community for everyone,” said Huawei Consumer Business Group CMO Herman Zhu. “Consumers can come and create, learn about the most advanced technology and trends, or just connect again with one another.”

    Huawei’s global flagship uses a large number of environmentally friendly and recyclable materials. The felt used for ceilings and walls is made of recyclable plastic parts; the table uses nanoboard, which can be used for more than ten years; the floor is made of marble with natural ingredients and zero resin.

    Lees ook:

  • Shoppers Stop reveals new store concept in Delhi

    Shoppers Stop reveals new store concept in Delhi

    Indian department store chain Shoppers Stop has opened a new 33,000sqft outlet in Delhi.

    The store was designed by the Dubai office of Schwitzke & Partners to reflect the latest international trends in retail strategy. This includes aspects such as merchandise presentation, customer movement and navigation, and department adjacency.

    Having expanded operations to more than 80 locations across India, Shoppers Stop was looking to evolve its stores’ aesthetic and presentation to upgrade customers’ shopping experience.

    The design features specific materials and elements to highlight each division in order to boost recognition. Another objective was to design the brand areas to be unobtrusive, so all brands have sufficient space to express themselves.

    The departments implement new merchandise presentation solutions, which includes fixture designs to accentuate individual products. Customer touchpoints were also given a m

    Lees ook:

  • Honestbee wins creditor reprieve

    Honestbee wins creditor reprieve

    Struggling grocery retailer and delivery startup Honestbee has been granted a four-month debt moratorium by the Singapore High Court.

    While two months shorter than the protection period the company sought from the court, it allows the business to restructure free from creditor pressure.

    Reports by Singapore business media show Honestbee owed around US$236 million in current liabilities as at the end of June. On top of that it has debt of around $210 million owed to some 1800 convertible noteholders which it is trying to exchange for equity.

    While Honestbee’s debt is a major impediment to the ongoing business, as much as 80 percent of the liability is to investor Brian Koo and entities controlled by himself or family interests.

    Koo stepped down as chairman of Honestbee in mid-September but is believed to support the debt restructuring scheme.

    Following the court decision, Honestbee CEO Lay Ann Ong issued a statement about the company’s immediate future: “A successful recapitalization and restructuring of the business will set a strong path of recovery for the company. This is necessary to ensure that we have the right structure in place moving forward so that we can better serve our customers across Asia.”

    The company will release further details shortly on its recapitalization progress and plans to sell of some parts of the business.

    Lees ook:

    Lees ook:

  • Dunhill opens two new stores in South Korea

    Dunhill opens two new stores in South Korea

    British luxury menswear house Dunhill has opened two new retail locations in South Korea.

    The new stores are situated within Lotte department stores in the Seoul district of Jamsil and Southern city of Busan, continuing the brand’s expansion strategy in Asia and paving the way for a third store opening in spring next year.

    The stores’ designs are purposed to create clean and contemporary spaces through an interplay of bronzed brass and walnut wood together with glass and metal details – recognizable codes of the house.

    “The opening of two new stores in South Korea is an incredibly exciting, strategic milestone for Dunhill as we endeavor to re-introduce our new vision for the house within this important market,” said the firm’s CEO Andrew Maag. “We are proud to partner with Lotte, whose exceptional reputation within the region will be key in once again establishing our position as the leading luxury British menswear brand.”

    Lees ook:

    Lees ook: