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Tag: asia

  • Cle de Peau Beaute debuts in Thailand

    Cle de Peau Beaute debuts in Thailand

    Japanese luxury skincare brand Cle de Peau Beaute has opened its first location in Thailand. Launching in the Helix building, Emquartier, the new store expects to cater to the brand’s cult following in the market. The venue is designed to reflect the luxurious lifestyle of modern women, with a ‘Radiance Wall’ illuminating the entire retail space and a gallery with storied details of selected products.

    The launch is being marked with the announcement of the brand’s new influencer, actress, artist and director Manasnan Panlertwongskul, and the unveiling of its latest lipstick.

  • Malaysia to double palm oil used in transport biodiesel to 20%: Minister

    Malaysia to double palm oil used in transport biodiesel to 20%: Minister

    Malaysia aims to double the palm oil content in biodiesel used for the transport sector to 20% next year, as Southeast Asia’s third-largest economy looks to cut record stockpiles and boost prices, a government minister said. The government will also raise the palm oil content in biofuel for the industrial sector to 10% next year from a 7% quota being rolled out this July, Primary Industries Minister Teresa Kok said, speaking at a conference.

    Malaysia’s palm oil inventories fell to 3.001 million tonnes in January on increasing demand and falling production, but that was still near the two-decade high of 3.22 million tonnes recorded a month earlier.

    The increases in the amount of palm oil mandated for biodiesel – known as B20 for transport and B10 for industrial use – should lift use of the vegetable oil in biofuels to 1.3 million tonnes annually, the minister said.

    Kok said her ministry has submitted a proposal to the cabinet to set up a biofuel stabilisation fund to manage the price of biofuels, a similar mechanism to the export levy fund imposed by fellow palm oil producer Indonesia.

    “What if the palm oil price is high and the diesel price has gone up a lot? That would be costly for the public to use biodiesel, so we need to stabilise the price so biofuel will be more attractive to consumers,“ Kok said.

    “I have suggested (a stabilisation fund) in cabinet meeting before but we still need to have deeper discussion with other ministries.”

    Top palm producer and exporter Indonesia began collecting levies from palm exporters in 2015 to help finance the development of its palm-based biodiesel programme, as well as funding other palm oil agenda, such as replanting.

    However, Indonesia’s government temporarily removed the levy in November after a sharp drop in prices hit farmers.

  • LG U+ expected to acquire CJ Hello this week

    LG U+ expected to acquire CJ Hello this week

    LG U+’s plan to acquire cable TV company CJ Hello could be finalized as early as this week. Progress with the deal has been slow since Korea’s smallest mobile carrier first began considering the acquisition early last year. Industry sources said Monday that the deal is mostly finalized and, with a board meeting scheduled on Thursday, is likely to be concluded this week.

    With the acquisition, LG U+ will become the second-largest player in the domestic paid TV market. KT, with both an internet protocol TV (IPTV) service and satellite subsidiary KT Skylife, is currently the market leader.

    Paid TV services in Korea include cable TV, satellite TV and IPTV.

    LG U+ will likely acquire a 53.92 percent stake in CJ Hello from CJ’s entertainment arm CJ ENM. The cost is expected to be around a trillion won ($888.6 million).

    The acquisition would give the mobile carrier more negotiating power when acquiring or producing content. The carrier could also be in a strong position to lure CJ Hello’s 4.16 million subscribers, as of the first half of 2018, to its mobile service by offering favorable rates.

    LG U+ is already using its partnership with Netflix to attract more customers to its mobile and IPTV service.

    Once the mobile carrier decides to go ahead with the deal, it then needs to be approved by the Fair Trade Commission (FTC), the Ministry of Science and ICT and the Korea Communications Commission. In 2016 when SK Telecom tried to acquire CJ Hello, then CJ HelloVision, the deal fell through as the antitrust body disapproved on the grounds that the acquisition could hurt fair market competition.

    This time, though, FTC head Kim Sang-jo hinted during a recent interview that the commission would take a more positive stance regarding the deal considering the rapid changes in the media market. Kim questioned whether broadcasting and telecommunications can be considered completely separate in a quickly changing market.

    It is still to be seen whether LG U+ will more explicitly announce its intent to acquire CJ Hello and expand its paid TV services. The carrier is holding a press briefing for the launch of a new IPTV service targeting senior citizens in Seoul. Many questions are expected to focus on the acquisition deal and future IPTV strategy.

    Competitors KT and SK Telecom are also considering acquiring cable broadcasting companies to counter LG U+’s move. KT is reportedly interested in acquiring cable broadcasting company D’Live, which has a 6.45 percent share of the Korean paid TV market as of the first half of 2018. KT and KT Skylife control more than 30 percent of the market while CJ Hello owns 13 percent and LG U+ has 11.41 percent.

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  • Japan’s Zozo expects profit fall, cuts outlook

    Japan’s Zozo expects profit fall, cuts outlook

    Online fashion store Zozo reported its firs-ever profit decline since its launch, adding to the announcement that it plans to discontinue its innovative Zozo suit, as it moves away for custom-fit fashion. One of Japan’s fastest-growing start-ups, Zozo said it expects full-year for the fiscal year ending March 2019 to fall 12%, dipping to 17.8 billion yen ($164 million).

    Zozo said it expects full-year operating profit of 26.5 billion yen, down around 19% from a year earlier. It previously forecast profit to rise to 40 billion yen.

    Sales are still predicted to reach double-digit growth, up 20% to 118 billion yen. However, that’s much lower than an initial forecast of 247 billion yen.

    By category, private-brand revenues are forecast to total 3 billion yen, just 15% of the 20-billon yen prediction made last year. Profits at the new apparel brand will also be negative, registering a loss of 12.5 billion yen.

    Zozo holds close to a 50 percent share of Japan’s e-commerce market for mid to high-end fashion. The Tokyo-based retailer had tried to branch out by launching its private brand and a made-to-measure service. Dubbed the ‘Zozosuit’, a black-and-white spotted body suit that allowed user to take and upload personal body measurements, the suit was overhauled after complaints on how long the suits took to arrive, with some customers complaining the suit did not fit, causing more delays.

    “By distributing the ‘Zozosuit’ for free so that people could take measurements, we were hoping to create demand for the Zozotown business, including the private brand. But the impact did not have the scale that we had hoped for,” the company said in a statement.

    Zozo said it now expects to pay a year-end dividend of 10 yen per share instead of an original forecast of 22 yen.

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  • Vogue opens first Tokyo wedding dress salon

    Vogue opens first Tokyo wedding dress salon

    International fashion magazine Vogue has opened its first wedding dress salon. Facing Aoyama Kotto-dori in Tokyo’s Omotesando district, the salon has hired specialist staff to offer tasteful suggestions not only with regard to dresses and accessories but also extending to hair, makeup and photography services.“The biggest single keyword for contemporary today’s weddings is ‘diversification of values’”, said Vogue Wedding creative director Mayumi Nakamura. “Now is a time for brides who embrace different values to rejoice in their individuality.

     

    “At Vogue Wedding Salon, in addition to traditional wedding dresses, we have prepared a wide variety of more adventurous styles. These items include stunning bridal gowns from popular designer brands that will be familiar to readers of Vogue such as Alexander McQueen, Giambattista Valli, Oscar de la Renta, Sergio Rossi, and so on. I hope that at Vogue Wedding Salon you will enjoy choosing a stylish dress that is not bound by existing rules.

    View the gallery below (4 images) :

    In addition to traditional wedding dresses, visitors can expect to encounter a variety of fashionably styled modern dresses selected by Vogue and created by top international designers based in the world’s fashion capitals beginning with Paris, New York, Milan, and London. Visitors will find a lineup of popular luxury bridal gown brands, as well as a selection of brands that are available exclusively from Vogue Wedding Salon.

    The salon is also equipped with a photo space where aspiring brides and grooms can take advantage of Vogue’s wedding photography services.

    In addition to wedding dresses, an extensive range of eveningwear and luxury brand shoes and accessories are available. The salon can also offer customers a luxury shoe brand custom order service.

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  • YSL opens pop-up store to celebrates Valentine’s Day

    YSL opens pop-up store to celebrates Valentine’s Day

    YSL launched a limited store for Valentine’s Day 2019 in Central, Hong Kong, featuring on WhatsApp sticker, photo booth, and games. Obviously, pink and cosmetics are many girls’ favourite. So pink lovers will fall in love with YSL latest limited pop-up store in Central as the store is fully decorated in pink. Not only visitors will have the opportunity to get the cosmetics products, but they will also be able to take Instagrammable photos in front of different props and beautiful background.

    To participate in this event, visitor only need to register online to get a designated QR code and go during the reserved time slot. In addition to taking pretty pictures, visitors can also try YSL new collection of perfumes, blush, and lipsticks.

    One of the most attractive activities is to tailor-made unique WhatsApp stickers.

    In addition, making WhatsApp stickers, printing photos or buying any products in the pop-up provides points for playing the YSL’s clip doll machine. The higher the points, the more opportunities, so you can clip away YSL cosmetics products and take them home.

    The pop-up closes its doors just after Valentine’s Day.

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  • Vietnamese car maker plans private share issue

    Vietnamese car maker plans private share issue

    Truong Hai Auto Corporation (THACO) is planning to issue more than 30.3 million shares to a strategic shareholder. The company is currently collecting shareholders’ opinions on a draft resolution to authorize a private placement worth an estimated total of VND3.89 trillion ($167.19 million) to Jardine Cycle & Carriage, a Singaporean diversified conglomerate that specializes in investment in car manufacturing.

    The share issue aims to raise additional capital to finance THACO’s investment and business plans this year, the company said in a circular issued to shareholders last week.

    The 30.3 million shares proposed in this placement make up 1.82 percent of THACO’s current chartered capital, and will raise the Singaporean shareholder’s stake in the car manufacturer to 26.57 percent.

    The share ownership of remaining shareholders will remain unchanged. Currently, 6.8 percent of THACO is owned by billionaire Tran Ba Duong, founder and chairman of the company, and another 60.6 percent by Tran Oanh JSC, a holding company owned by Duong and his family.

    The shares are expected to be issued soon after the State Securities Commission has confirmed the receipt of all documentation regarding the private placement.

    Dong Nai-based THACO was established as an auto and commercial vehicle maker in 1997. It has a plant in central province of Quang Nam and 89 showrooms and 53 dealerships.

    It makes trucks and buses and assembles cars for brands like Kia (South Korea), Mazda (Japan), and Peugeot (France).

    Jardine Cycle & Carriage Ltd, which is part of the Jardine Group of companies, has a diverse business portfolio. They have long term shareholdings in major manufacturers such as Jakarta based Astra International, as well as other interests in the refrigeration, cement and milk business.

    In Singapore, Jardine C&C is best known as the retailer of Mercedes Benz, Mitsubishi, Kia, Citroen, DS, and Maxus motor vehicles. The company has a current market capitalisation of S$14.55 billion (US$10.71 billion).

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  • Mercedes back in No. 4 spot on E-class sales in Korea

    Mercedes back in No. 4 spot on E-class sales in Korea

    Mercedes-Benz outsold local carmakers in Korea to finish fourth in domestic sales in January, industry data showed Monday. The Korean unit of the German automaker sold 5,796 vehicles last month, equal to 4 percent of the total 114,632 vehicles. The sum places it fourth after Hyundai Motor (31.2 percent), Kia Motors (22.8 percent) and SsangYong Motor (6.1 percent).

    January sales for Mercedes-Benz Korea shrank 22.8 percent compared with the month before, but they were still higher than the monthly sales by Renault Samsung Motors (3.5 percent) and GM Korea (3.1 percent).

    The last time that the German brand reached No. 4 in monthly sales was back in April last year, a ranking that followed the closure of a local assembly plant by GM Korea two months earlier. Mercedes-Benz defended the ranking for three months before slipping to No. 6 in May last year.

    In yearly sales, Mercedes-Benz Korea sold 70,798 units for a market share of 4.5 percent last year, behind Renault Samsung (5.7 percent) and GM Korea (5.5 percent).

    Industry watchers attribute the sales increase to the success of the E-Class. January sales of the lineup were the 12th highest at 3,392 units, a number meaning that one E-Class vehicle was sold for every three Grandeur autos from Hyundai Motor purchased.

    The E-Class cars outsold Genesis, an independent brand launched by Hyundai that is pitted as its domestic rival, last year.

    The “diesel-gate” scandal that pounded German brands also helped promote the E-Class, which are mostly gasoline cars,

    “This year, BMW and Audi are scheduled to release new sedans, and a full-change Genesis G80 is also due soon,” one source noted. “This will likely affect the sales of the E-Class.”

  • Starbucks Malaysia celebrates Reserve’s success

    Starbucks Malaysia celebrates Reserve’s success

    Starbucks Malaysia plans to open two or three of its premium Reserve concept stores annually. The brand’s eighth Starbucks Reserve store opened at the end of last month, a 5000sqft flagship at Berjaya Times Square, three years after the first outlet launched at The Gardens Mall.

    “We did not anticipate such a strong reception for the new concept store”, said Starbucks Malaysia & Brunei MD Sydney Quays. “We were surprised because a lot of people were interested to learn about coffee and the various ways of brewing.

    “This is what inspired us to open more Starbucks Reserve stores. The opening of the Starbucks Reserve Berjaya Times Square amplifies our passion for coffee and our ongoing commitment to continue providing unprecedented coffee experiences and knowledge to the Malaysian community, while fostering a culture of human connection”, he said.

    The new rollout schedule aims to cater to Starbucks’ loyal customers’ burgeoning interest in coffee. The brand is planning 30 Starbucks outlets per year including the Reserve venues, as well as regular stores, drive-thrus and small-format stores.

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  • L’Oreal Asia Pacific sales reported soars

    L’Oreal Asia Pacific sales reported soars

    L’Oreal Asia Pacific sales soared by a staggering 24.1 per cent on a like-for-like basis last year. Asia was the beauty behemoth’s fastest-growing market with all divisions of the business winning market share from rivals in the region. “The dynamism of Chinese consumers, combined with the good performance of premium brands and rapid growth in several other Southeast Asian markets as well as in travel retail, were the [region’s] main growth drivers,” the company said in an earnings statement.

    Singles Day in the fourth quarter especially boosted sales in China, along with the acquisition of Stylenanda in June.

    L’Oreal Asia Pacific sales, driven by China, overtook L’Oreal’s North America business, with sales exceeding €7 billion.

    Globally, L’Oreal achieved sales of €26.9 billion (US$30.3 billion) last year, an improvement of 7.1 per cent on a like-for-like basis and 8 per cent at constant exchange rates. Net profit reached €3.89 billion euros, an increase of 8.8 per cent.

    L’Oreal’s chairman and CEO Jean-Paul Agon said the results represented the company’s best year of growth since 2007, achieved in a beauty market which had “accelerated significantly” last year.

    All divisions achieved growth, with the standouts being L’Oreal Luxe and Active Cosmetics, which both recorded double-digit sales increases. In the Luxe division, the larger brands led the way, with Lancome sales crossing the €3 billion threshold. The Active Cosmetics division achieved its highest growth for more than 10 years.

    Consumer products sales, led by L’Oreal Paris and Maybelline New York, achieved solid growth and professional products a “modest increase” thanks to a significant acceleration in the final quarter, the company said.

    A growing investment in e-commerce is paying off, with sales online up 40.6 per cent last year, now accounting for 11 per cent of group sales.

    And travel retail broke the €2 billion barrier, increasing by 27.1 per cent.

    L’Oreal reported its gross margin increased significantly and, even after strong investments in research, innovation, and business drivers, its operating margin set a new record at 18.3 per cent of sales.

  • Samsung to pay its biggest tax bill ever as profits rise

    Samsung to pay its biggest tax bill ever as profits rise

    Samsung Electronics is expected to pay 16.8 trillion won ($15 billion) in corporate taxes this year, up 20.1 percent from a year earlier, due to its record earnings, its regulatory briefing showed Monday. It is expected to cough up 28.6 percent of its operating profits, which reached an all-time high of 58.9 trillion won in 2018, according to its consolidated financial statement.

    The estimated tax amount is the highest amount ever for the company, 2.4 times the number from 2015 and over 14 times from 2009, its past reports showed.

  • Vietnamese firm seeks main investor status in Long Thanh airport

    Vietnamese firm seeks main investor status in Long Thanh airport

    The Airports Corporation of Vietnam (ACV) desires to be the main investor in the Long Thanh International Airport. ACV, which operates 21 airports in the country, has proposed that it contributes more than a quarter of the $5.4 billion needed to build the new Long Thanh International Airport. Lai Xuan Thanh, chairman of ACV, said that the corporation is ready to contribute $1-1.5 billion needed for the first phase of the mega airport to be built in Dong Nai Province, neighboring HCMC.

    In a proposal to the Ministry of Transport, ACV has said that its initial contribution will be used for major components of the airport including the terminal, runways, parking lots and cargo areas, worth a total of $3.77 billion, according to the Vietnamese government’s website.

    The airport operator is currently working with the Ministry of Transport and Dong Nai authorities on acquiring about 1,800 hectares for the first phase of the airport.

    Most of the targeted area is now covered by plantations belonging to the Dong Nai Rubber Corporation where 200 families reside.

    The Ministry of Transport has asked the consultancy consortium of the airport, JFV, to finish an environmental impact report next month.

    The consortium, comprising of three Japanese, one French and two Vietnamese companies, will also need to submit the feasibility report for the airport by June.

    In turn, the ministry “will submit the feasibility report to the National Assembly in October. If it is approved, bidding will start in 2020 and construction in 2021,” Transport Minister Nguyen Van The told local media recently.

    The Long Thanh International Airport, to be built in three phases over three decades, is set to become Vietnam’s largest airport.

    The first part is scheduled for completion in 2025, when the new airport will be able to handle 25 million passengers a year. The next two phases will run from 2030 to 2035 and from 2040 to 2050.

    Experts have previously warned that the construction cost of the airport could double every five years.

    Lying 40 kilometers east of HCMC, the airport is expected to take up the overflow from the largest existing airport in the country, Tan Son Nhat International Airport.

    Once completed, Long Thanh International Airport will have an annual capacity of 100 million passengers and five million tons of cargo.

    The tourism surge of recent years in Vietnam has resulted in demands for an upgrade of existing airports and construction of new ones.

    The country welcomed 12.5 million air passengers last year, up 14.4 percent from 2017, according to the General Statistics Office.

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  • JC Penney to stop selling home appliances

    JC Penney to stop selling home appliances

    Struggling department store chain JC Penney announced it will exit its home appliances business, and some of its furniture business, while revamping the layout of its stores to focus on clothing sales to boost profits. The company, which hasn’t turned a profit since 2010 and has forecast several more years of losses, said it would stop selling major appliances in February “to better meet customer expectations, improve financial performance and drive profitable growth.”

    JC Penney’s appliances business was a pet project of former CEO Marvin Ellison. The company will also stop selling furniture in majority of its stores and will now only be available in select stores in Puerto Rico and online.

    The announcement is the first major change by new CEO Jill Soltau since she joined the embattled retailer late last year.

    According to JC Penney, they are now finalising new layout options, including reduction of store space previously dedicated to appliance and furniture showrooms to maximise efficiencies, reduce inventory and create an enhanced shopping experience that inspires repeat shopping trips.

    “Optimising the allocation of store space will enable us to prioritise and focus on the company’s legacy strengths in apparel and soft home furnishings, which represent higher margin opportunities,” the company said.

    The company further announced customers can still purchase major appliances in stores and online until February 28 and receive free basic delivery and installation on new model purchases over $299. All protection plans and manufacturer’s warranty agreements will remain in effect for the applicable warranty period.

  • The Shilla Duty Free partners with comics strip artists

    The Shilla Duty Free partners with comics strip artists

    The Shilla Duty Free is partnering with popular Chinese webtoon artists to boost its appeal to travelling Chinese shoppers. The travel retailer said that this is the first marketing partnership of its kind in the Korean duty free industry. Webtoons have become an increasingly influential media tool to connect closely with consumers, Shilla noted. “Unlike traditional advertisements, webtoons use storytelling that is easily relatable while utilising artists’ existing fandom.”

    The partnership with two webtoon artists, Niu Hong Hong (牛轰轰) and Ruo Guan (弱冠), specifically targets Chinese women in their 20s to 30s – The Shilla Duty Free’s main customer base (as the charts below show, visitors between 21 and 40 made up 57.3 percent of Chinese arrivals in South Korea last year and those between 21 and 30 almost 31 percent).

    Shilla’s stores are being featured in webtoons and the contents promoted through each artist’s social media platforms.

    Real-time comments such as “I would like to shop there”; “I should visit there during my next visit to Korea”; and “I like the store interior” appear on the webtoons.

    Besides introducing The Shilla Duty Free shops, the webtoons also highlight nine local eateries near the retailer’s flagship Seoul Store, showcasing the surrounding area as a local attraction. Since 2016, The Shilla Duty Free has promoted its local communities by introducing nearby restaurants through various channels such as The Shilla Online Duty Free in Chinese and its official Weibo account.

    A spokesperson said, “The partnership with Chinese webtoon artists is a first in the industry. We expect to be able to connect better with Chinese customers. Creative marketing like this will be continued during the peak seasons such as Chinese Lunar New Year, the Mid-Autumn Festival and the National Day of China, to broaden the communication with our customers.”

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  • D&G opens boutique in Osaka Japan

    D&G opens boutique in Osaka Japan

    Luxury brand Dolce & Gabbana has opened a new D&G Osaka store. The two-level, 905sqm #DGLovesOsaka boutique at Midosuji is designed to reflect the unique local features of Osaka while still representing the brand’s heritage, with red marble and pink onyx finishings touched off by pink rugs and wallpaper. A large baroque-styled mirror is a centrepiece of the decor.

    The #DGLovesOsaka boutique stocks ready-to-wear collections and accessories for men, women, and children.