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Tag: bangkok

  • V-MORE announces planned Thailand expansion

    V-MORE announces planned Thailand expansion

    V-MORE, an e-commerce supply chain management platform, has revealed its intention of expanding into Thailand.

    V-MORE aims to recruit new Thai e-commerce merchants as part of its expansion strategy and has rolled out onboarding programs for new merchants and users.

    V-MORE is a one-stop marketplace where consumers can shop and be rewarded at over 500 marketplace and shopping sites including leading online brands, hotel and flight booking sites, technology as well as food and beverages merchants. Thai merchants can participate in its e-commerce program and increase their exports to other countries in Asia and beyond.

    “We are pursuing a plan of expansion and hope to achieve revenue growth through mass adoption by users and merchants in our ecosystem. Thailand is fast becoming the leading e-commerce market, and we seek to increase our user and merchant base through user incentive programs, brand awareness and marketing programs,” said Sir Eldee Tang, CEO and Founder of Noble Vici Group.

    According to research, there are more than 57 million internet users in Thailand who are well-versed with digital technologies, mobile and e-commerce. The market is valued at $3.5 billion and is expected to generate revenue growth rate of 13.2% annually, reaching $5.8 billion by 2022.

    “We look forward to new local merchants to come on board our platform and welcome sellers and buyers to experience the online marketplace for the first time,” Eldee added.

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  • Pomelo secures RedMart’s Jim Boland

    Pomelo secures RedMart’s Jim Boland

    Bangkok-headquartered omnichannel fashion company Pomelo has appointed Jim Boland, former RedMart CFO, as its new CFO.

    Boland has successfully led finance organisations in fast-growing e-commerce businesses for more than 19 years in leadership roles at Amazon, Dell and Alibaba-owned RedMart. His appointment will see him aiming to build up Pomelo’s financial infrastructure to drive profitability while enabling rapid growth across the region.

    “I am delighted to join this innovative company, which has designed a business model strategically suited to grow fast and profitably,” said Boland. “As a digitally native, vertically integrated omnichannel brand, Pomelo presents an exciting opportunity to leverage my past experience with vertical integration, retail, and e-commerce, especially during the critical scaling up phase.”

    With Boland’s new role as CFO, Pomelo’s co-founder and former CFO Casey Liang is transitioning to Pomelo’s growth team, which encompasses the performance-marketing and business-intelligence teams, a cross-functional unit that will work closely with other teams to accelerate customer acquisition and retention.

    “As we continue in this period of rapid expansion, I am excited to foster more coordination between our creative and technical teams to further accelerate our growth rate and help more customers to experience Pomelo’s unique value proposition,” said Liang.

    Pomelo’s CEO David Jou expressed excitement at the hire as the firm pursues building the “first global fast fashion brand out of Asia”.

  • Retail company Yo-ren eyes Thailand and Malaysia

    Retail company Yo-ren eyes Thailand and Malaysia

    Hong Kong-headquartered retail technology company Yo-ren has secured US$11 million in a funding round it plans to use to expand into Thailand and Malaysia.

    Yo-ren designs, develops, and operates smart phone-based customer management programs and provides retailers with social network services, e-commerce website planning and operations, collects user data and performs data analysis, as well as developing market strategies based on user characteristics.

    The company’s current clients include Japanese convenience store chain Lawson.

    Yo-ren is also investing in AI technology as part of an agenda to merge digital and physical store spaces, possibly extending as far as allowing consumers to buy clothing in unstaffed stores, in similar fashion to Amazon Go.

    “We foresee the optimal use of digital environments as a service, and big data gathered from increasingly connected networks as critical up-and-coming managerial problems,” Yo-ren wrote in a statement.

    Investors in the latest Yo-ren funding round included Lawson and T-Gaia Corporation.

  • V-MORE Enters Thailand’s E-Commerce Market With More Than 500 Marketplace Platforms and Merchants

    V-MORE Enters Thailand’s E-Commerce Market With More Than 500 Marketplace Platforms and Merchants

     V-MORE, Asia’s leading e-commerce supply chain management platform, has announced its plans to expand into Thailand. Over the pasts 12 months, the fast-growing one-stop e-commerce platform which has already garnered 500,000 users in the region.  V-MORE aims to recruit new Thai e-commerce merchants as part of its expansion strategy and has rolled out onboarding programs for new merchants and users.

    “We are pursuing a plan of expansion and hope to achieve revenue growth through mass adoption by users and merchants in our ecosystem. Thailand is fast becoming the leading e-commerce market, and we seek to increase our user and merchant base through user incentive programs, brand awareness and marketing programs,” said Sir Eldee Tang, CEO and Founder of Noble Vici Group.

    V-MORE is a one-stop marketplace for high quality products which are value for money. Its unique shop, save and earn program has gained the trust of many online shoppers. Through V-MORE, consumers can shop and be rewarded at over 500 marketplace and shopping sites including leading online brands, hotel and flight booking sites, technology as well as food and beverages merchants. Thai merchants can participate in its e-commerce program and increase their exports to other countries in Asia and beyond.

    According to research, there are more than 57 million internet users in Thailand who are well-versed with digital technologies, mobile and e-commerce. The market is valued at USD 3.5 billion and is expected to generate revenue growth rate of 13.2% annually, reaching USD 5.8 billion by 2022.

    “We look forward to new local merchants to come on board our platform and welcome sellers and buyers to experience the online marketplace for the first time,” Eldee added.

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  • Dune London about to open in Singapore

    Dune London about to open in Singapore

    Footwear brand Dune London is planning to expand into Singapore and Bangkok this year.

    The brand says expansion into new international markets is one of its core strategies for this year.

    In the UK, the brand will expand its standalone store network by opening a new location in Newcastle Eldon Square and opening outlet stores in Cheshire Oaks, Icon O2 and Kildare Village.

    South America is another focus area, and Dune plans to roll out eight new concessions with its existing partner in Chile. It will also debut in Romania.

    “This is a very exciting time for Dune London, as international expansion is a focal part of our overall growth strategy,” said James Cox, CEO.

    “We will focus our efforts on specific markets with best-in-class support strategies and tactical initiatives that are regionally appropriate and perfectly aligned with our product and marketing investments.”

    Dune has opened 10 new concessions in department stores in Mainland China, two in Macau and one in Hong Kong, as well as new standalone stores in Kuala Lumpur; Ho Chi Minh City and Hanoi in Vietnam; and Manila in the Philippines.

    In the Middle East, it trades in more than 50 locations.

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  • Kasikornbank aims high as K Plus users pass 10 million

    Kasikornbank aims high as K Plus users pass 10 million

    Thailand’s fourth-largest bank by assets – by loans and deposits it also ranks fourth – has set some eye-catching targets. Take its K-Plus mobile banking offering. Already K-Plus has 10 million customers; that in itself is an already impressive number, given that Kasikornbank has around 14 million customers in total. And it represents impressive annual growth: the bank ended 2017 with 7.3 million users, up from 4.6 million the previous year, but it is a drop in the ocean compared to the target it has set.

    The bank believes it can grow K-Plus numbers to up to 100 million by expanding it to the regional market via partnerships. It is also continuing to target low-income earners who are not currently Kasikornbank customers.

    Organic growth targets for retail loans are in the range of 9-12% for 2019, and it is using machine lending and artificial intelligence technology to initiate financial and life solutions related to customers’ lifestyles and needs.

    K Bank grabs ride-hailing deal

    And then there is the investment in Grab: in November last year, K Bank invested $50m in the ride-hailing firm, with an aim to help launch the GrabPay electronic wallet in its sixth South-East Asian market in 2019.

    The deal also enables K Bank to use Grab’s data on merchants and drivers. The goal is to craft loan products while minimising non-performing loans with optimised use of data. So the Grab app will be integrated with the K Plus app and the bank will offer loans via the apps.

    Other 2018 highlights included a local chart-topping success in the Apple App store. K Plus is Thailand’s most popular app on Apple’s iOS platform outside the gaming segment, ahead of local rival banks Siam Commercial, Krung Thai Bank and Bangkok Bank.

    But it is the use of data and its potential for monetisation that really is attention-grabbing. K Bank really is aiming high in terms of becoming what it terms a ‘data-driven bank’, and believes that project data-driven data will account for one-half of its income by 2020.

    Such ambitions do not come cheap. K Bank’s IT group has set an investment budget for tech development this year of around $160m. It is, admittedly, a modest sum by Chase or Citi standards, but in the context of the Thai market, it is a significant investment. And if K-Plus can grow user numbers to anything approaching 100 million, and get close to its data revenue targets, K Bank will certainly put itself on the map.

    Mastercard trumps Visa for Earthport

    As EPI goes to print comes news that Mastercard looks to head off rival Visa as it attempts to buy Earthport for £233m ($306m).

    Over the Christmas period, Visa made an unexpected £198m bid for the company. The offer was recommended by the Earthport’s board and put to shareholders; however, in a statement to the market on 25 January, Earthport’s board withdrew its recommendation for Visa’s offer and urged shareholders to instead take Mastercard’s deal, which is at a 10% premium to Visa’s. Earthport’s shares, which have risen four-fold since Visa first offered to buy the company, rose another 30% to £0.36.

    Earthport has been around the block a few times since it was founded in 1997. It floated on AIM in 2009, and its adjusted operating loss for 2018 rose by 33% to £8.4m (FY2017: £6.3m). Its share price stumbled around single-digit territory for much of 2018, reaching a low of £0.055 in December, having peaked at £0.48 in April 2015.

    Earthport provides cross-border payment services in the UK, Europe, North America and internationally, operating through two segments: transactional and professional services. It does this through a combination of a network of segregated bank accounts in various geographies, software that mirrors movements of funds from bank to bank, and a knowledge base embedded in the platform and organisation related to each country.

    A deal for either Mastercard or Visa makes sense from the perspective of growing revenue from international money transfers. In other words, Earthport offers a revenue stream not dependent on traditional plastic cards. At the figures being canvassed the purchase price does seem steep, but is quite a coup for the new management team that took over at Earthport last year.

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  • KBank holds exam for eight graduate scholarships

    KBank holds exam for eight graduate scholarships

    KBank will hold an examination for eight graduate scholarships for 2019 at both local and international institutes in many fields, including business administration, finance and IT, the bank said in a press release on Thursday.Scholarships in business data analytics are offered for the first time this year to seek a new generation of employees with competencies to help KBank press ahead with the strategies to be Customers’ Life Platform of Choice and a Data-Driven Bank. Applications are open from now until April 9, 2019.

    Kattiya Indaravijaya, KBank President, said that because human resources are the nexus of any organizations and national development, KBank is offering eight full scholarships for master programs at both local and international institutions, as follows:

    Graduate scholarships at international institutes in countries determined by KBank, namely the US, UK, France, Switzerland, Japan, China, Hong Kong Special Administrative Region and Singapore, for 14 fields, including business administration, finance, financial engineering, international business, risk management, mathematics, statistics, data analysis, computer science – artificial intelligence (AI), machine learning, human computer interaction or UX UI design biometrics, computer systems and computational linguistics. Graduate scholarships in business data analytics are offered for the first time in 2019 in response to KBank’s operations to use big data in mobilising the business.

    For local institutes, KBank offers scholarships for students to study at Sasin Graduate Institute of Business Administration of Chulalongkorn University and Thammasat University in four academic fields, namely Master of Business Administration Program (MBA), Master Program in Financial Engineering (MFE), Master of Science in Finance (MSF) & Master in Finance (MIF) and Master of Science Program in Marketing (MIM).

    Qualified applicants for business data analytics study must not be older than 28 years old, while applicants for study in other academic fields must not be older than 30 years old and must be a Thai citizen with a bachelor’s degree in any field and a minimum of 3.0 GPA.

    People applying to study abroad must submit their test scores of language proficiency, GMAT or GRE per the criteria together with their applications. Interested persons can fill the application forms at www.kasikornbank.com and find additional information from KBank’s announcement or KBank’s Human Resource Development Department, tel. 02-470 3172 or [email protected] from today until April 9, 2019.

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  • Feel International brings Myanmar cuisine into Thailand

    Feel International brings Myanmar cuisine into Thailand

    Myanmar restaurant chain Feel International is set to open in Thailand. Opening in the popular Bangkok tourist area of Pratunam on Thursday (January 24), the group intends to introduce Myanmar cuisine to Thai consumers and foreigners.

    “At present, many restaurants are attempting to cater to the needs of tourists from China, however there are eight flights to Bangkok from Yangon every day, and there are tens of thousands of Myanmar citizens working and studying there, so there is a potential market for Myanmar cuisine”, said Feel International operations director Ko Johnny.

    “This is the very first Myanmar restaurant opened in a foreign capital city. Bangkok is one of the biggest restaurant markets in the world. It offers a wide variety of cuisine, even something as exotic in Asia as Ethiopian. Bangkok is the first step for Myanmar traditional food to penetrate the international markets”, he said.

    The restaurant intends to serve lunch boxes with Myanmar favourites for Myanmar people working in companies and offices around the area.

    Discussions are being held to open further restaurants in Chiang Mai and Mesauk.

  • King Power monopoly ending at Bangkok’s airport

    King Power monopoly ending at Bangkok’s airport

    Thailand’s much-maligned airport duty-free monopoly appears set to be nearing an end.

    For years, major Thai retailers have complained that incumbent operator King Power has controlled the retail offer – and prices – at Thailand’s largest airports, especially Suvarnabhumi outside Bangkok. Frequent travellers often comment that airport ‘duty-free’ prices are higher than at other airports in the region, including Singapore and Hong Kong.

    On Wednesday, state-owned Airports of Thailand (AOT) approved guidelines for concessions for duty-free and commercial activities at its airports, the first step in opening up retail spaces to other companies.

    According to Reuters, AOT will offer three retail licences at an upcoming auction, clearing the way for Thai retail giants Central Group and The Mall Group, along with South Korea’s Hotel Shilla, to enter the fray.

    King Power’s current licence ends next year.

    AOT says contracts will cover duty-free retail, commercial businesses such as food and beverage outlets and pick-up counters for shoppers who buy goods in town and collect them at the airport after clearing customs and immigration.

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  • Thailand’s Zen Corporation completes IPO

    Thailand’s Zen Corporation completes IPO

    Thai restaurant operator Zen Corporation secured THB975 million (US$31.35 million) via an IPO issued last Wednesday.

    The firm sold all 75 million shares on offer, representing 25 per cent of its registered capital, at THB13 each. Its stock price grew 17.69 per cent over the course of its trading debut, as strong demand pushed the value per share up to THB15.30 on the first day.

    Zen Corporation is known for its various restaurant chains, including its eponymous brand as well as Musha by Zen, Sushi Cyu Carnival Yakiniku, AKA, On the Table Tokyo Cafe, Tetsu and de Tummour.

    The firm also operates food delivery, catering, restaurant management and consultancy services, as well as food retail operations.

  • Tesco Asia sales slip further, but profit up

    Tesco Asia sales slip further, but profit up

    Tesco Asia like-for-like sales continue to decline while the UK-headquartered company repositions its offer – masking a stronger underlying performance for the business.

    “We have made good progress in our discussions with suppliers towards a new commercial approach,” explained Tesco CEO Dave Lewis in a quarterly update.

    “We also accelerated planned changes to our operating model in Thailand, helping to reduce costs and underpinning our profit recovery.”

    Lewis said that despite minor changes to the government-issued welfare cards scheme during the third quarter, Tesco Thailand sales fell by about 1 per cent for the 19-weeks including the key Christmas trading period.

    Restructured Thailand store operations have led to reduced costs, underpinning profit recovery at the expense of sales.

    Referring to Tesco’s global operations, Lewis added: “We have more to do everywhere but remain bang on track to deliver our plans for the year and as we enter our centenary we are in a strong position.”

    The December quarter represented the 12th consecutive quarter of like-for-like sales growth for Tesco globally, with sales up 2.6 per cent.

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  • Armani Box Bangkok pops up at Suvarnabhumi Airport

    Armani Box Bangkok pops up at Suvarnabhumi Airport

    Giorgio Armani Beauty has opened an Armani Box Bangkok pop-up store at Suvarnabhumi Airport.

    Located in the departures hall, the pop up will showcase the brand’s beauty ranges until the end of this month.

    The Armani Box Bangkok store was designed with hot-red walls and black lighting fixtures. A giant gorilla, Uri, welcomes visitors as they enter the store. Created by Italian artist Marcantonio Raimondi Malerba, the full-sized golden gorilla is a replica of the black one that resides in Giorgio Armani’s home in Milan.

    Thai and Chinese KOLs, Ms Nutty Ploychompoo, Ms Archita Siripinyanond and Ms Liu Lin (Xiao Yu) at the Armani Box Bangkok

    Thai and Chinese KOLs, Ms Nutty Ploychompoo, Ms Archita Siripinyanond and Ms Liu Lin (Xiao Yu) at the Armani Box Bangkok

    The Armani Box Bangkok is decked out with a series of cinematic details to explore

    The Armani Box Bangkok is decked out with a series of cinematic details to explore

    Armani Box Bangkok is decked out with a series of cinematic details and visitors can become ‘movie stars’ with a series of details to explore, including making a Walk of Fame digital handprint and filming their own screen test.

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  • Under Armour Thailand eyes 20 per cent sales growth

    Under Armour Thailand eyes 20 per cent sales growth

    Under Armour Thailand is targeting a 20-per-cent sales increase in the kingdom, according to the brand’s exclusive Asian distributor Triple Pte Ltd.

    The company is focusing on footwear sales to follow up on its gains in the apparel sector in a sporting goods market expected to see 5–7 per cent growth this year. It will also offer a wider range of branded products, including sleepwear.

    “Under Armour is a relatively new brand in Thailand, and it has huge potential to spread its wings here,” said company CEO Michael Binger during a visit to Thailand last week. “We want to grow our footwear business at a faster pace than in the past and expect footwear sales to increase to 35 per cent of total sales by 2020, up from 25 per cent last year.”

    As part of this year’s expansion plans, Triple Pte is planning exploratory Under Armour Thailand outlets in the country’s north, with a shop-in-shop scheduled for the Mall Nakhon Ratchasima as well as a potential new shop in popular tourist destination Chiang Mai. It will also launch another branch in suburban Bangkok.

    “We see huge potential in the sporting goods business in Thailand,” said Binger, “and we feel confident in our capability to propel Under Armour to success here because we are an alternative brand for people looking for innovative performance shoes.”

    Thailand is Under Armour’s second fastest-growing market in Southeast Asia after Singapore.

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  • Espoir Thailand debuts through Eveandboy

    Espoir Thailand debuts through Eveandboy

    Amorepacific-owned makeup brand eSpoir has launched in Thailand via cosmetics retailer chain Eveandboy.

    Nearly 130 eSpoir products are available at Eveandboy stores at Siam Square One shopping mall and at Terminal 21 near Asoke Station.

    The highest-profile eSpoir products include Dewy Face Glow moisturiser with hyaluronic acid, No Wear Lipstick, and Pro Tailor Foundation Be Silk / Be Glow.

    The South Korean brand will launch in eight more Eveandboy stores and an online mall to build a strong presence in the Thailand beauty market and expand channels.

    Amorepacific says it plans further expansion into other Asean countries.

  • Grand Opening of Centara West Bay Residences & Suites Doha

    Grand Opening of Centara West Bay Residences & Suites Doha

    Centara Hotels & Resorts, Thailand’s leading hotel operator, has celebrated the grand opening of its dramatic new waterfront hotel in Doha, introducing the company’s elegant Thai hospitality to the State of Qatar for the first time.

    The 265-key Centara West Bay Residences & Suites Doha is a striking new hotel located in the city’s West Bay district, which is home to many of downtown Doha’s most stunning skyscrapers. Overlooking the Arabian Gulf, the hotel is just moments away from the lively Doha Corniche and 25-minutes’ drive from Qatar’s Hamad International Airport.

    The launch of this new landmark marks a major milestone for Centara, as the company continues to expand its international footprint. One of the Middle East’s most eagerly-anticipated new hotels, Centara West Bay Residences & Suites Doha harmoniously blends luxurious interiors and facilities with the timeless charm of Thai hospitality, while also showcasing authentic Qatari culture.

    The grand opening event featured traditional Thai and Qatari performances, including a falconry show, plus executive speeches, a ribbon-cutting ceremony and VIP dinner created by Michelin starred chef, Alfred Prasad.

    “Doha is one of the most dynamic destinations in the world today, and we are delighted to enter this important market with such a spectacular new hotel. Centara West Bay Residences & Suites Doha is an iconic addition to the city’s skyline. With spacious accommodation, luxurious facilities and gracious Thai service, this hotel will cater for all types of guest, from leisure visitors and large family groups to long-stay business travellers. We look forward to welcoming all guests to Doha in the future, as the city embarks on an exciting new era of international prominence and prosperity,” commented Thirayuth Chirathivat, Chief Executive Office, Centara Hotels and Resorts.

    Guests have a choice of stylish and spacious accommodation, comprising studios, suites, one- to three-bedroom apartments and four-bedroom penthouses, all featuring floor-to-ceiling windows with breath-taking views of the Gulf. Residences range in size from a generous 45 square metres to an opulent 365 square metres and come fully equipped with comfortable bedrooms, separate living and dining areas, kitchens, and cutting-edge technology, including Smart TVs.

    Centara West Bay Residences & Suites Doha features a collection of contemporary F&B outlets, including Caprice, a café-inspired restaurant showcasing exquisite Thai cuisine and international fare; Dalchini, which promises progressive Indian from creative Chef Alfred Prasad cuisine; plus a chic Lobby Lounge and a refreshing Pool Bar. In-room dining is also available and residences have their own cooking and dining facilities.

    There are many opportunities for relaxation, including an indoor pool with panoramic views of the Gulf, a spacious fitness centre and aerobics studio. There is also a kids’ club and children’s pool for younger guests, plus a gift shop, prayer room and two flexible meeting rooms.

    A key cultural and economic hub for the entire Middle East region, Doha is home to a wealth of cultural attractions including the historic Souq Waqif market, Museum of Islamic Art and State Grand Mosque, plus major shopping malls and soft sandy beaches. It is also rapidly emerging as a global sporting destination, hosting the annual season-opening Qatar Open tennis tournament, the 2019 IAAF World Athletics Championships and of course, the 2022 FIFA World Cup.

    The Middle East is a key strategic part of Centara’s five-year development plan, which aims to double the company’s global portfolio of hotels and resorts by 2022. Centara Muscat Hotel opened in 2017, and following this week’s grand opening of Centara West Bay Residences & Suites Doha, the group further plans to launch Centara Grand Hotel Doha in the first half of 2020.

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