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Tag: expansion

  • Apple, Inc.’s Retail Push Into India Is Under Way

    Apple, Inc.’s Retail Push Into India Is Under Way

    Much of the attention surrounding Apple‘s iPhone is focused on the company’s two most important markets: the U.S. and China. And rightly so — Apple brings in the most revenue from its U.S. sales, while China is the company’s largest smartphone market.

    But mobile device makers are focusing their attention on India’s fast-growing mobile market as well. And if new information about Apple proves true, the iPhone maker is in the midst of establishing a bigger retail presence there as India moves toward becoming the second-largest smartphone market in the world.

    What Apple’s doing
    According to information from NDTV Gadgets, Apple has selected about 100 new reseller retail locations in India, with the goal of adding 500.

    The stores aren’t owned by Apple, but they will sell the company’s mobile devices — part of a larger Authorized Mobility Resellers (AMR) program Apple has set up in the country. So far, 12 cities have reportedly been selected for the AMR program, and individual resellers are still being selected based on their past Apple product sales numbers.

    Why expand further into India?
    It’s no secret that India is quickly becoming a major market for smartphone makers, and Apple is likely trying to position itself to benefit from the country’s trends.

    According to Strategy Analytics, India will become the second largest smartphone market in the world in the next two years. China will continue leading the way, while the U.S. will be pushed down to the No. 3 spot.

    Earlier this month, Strategy Analytics’ Linda Sui said that China’s smartphone growth is slowing a bit and India is “fast becoming the next major growth wave.” That growth is fueled by the country’s low smartphone penetration and a burgeoning middle class. According to research by McKinsey, India’s middle class will expand from about 50 million people right now to 583 million by 2025, which will encompass 41% of the population.

    Apple’s big hurdle
     With its new reseller locations, Apple will be poised to capitalize on India’s projected smartphone growth. But there’s one thing the company has to look out for: local vendors and low selling prices.

    Indian device makers, particularly Micromax, are producing smartphones with good specifications for much lower prices than Apple. The NDTV Gadgets article notes that Apple may allow the reseller stores to sell devices below the official retail prices. We’ll have to wait and see if Apple actually goes through with that, or how deep the discounts are.

    Just as it did in China, Apple will have to balance its premium brand persona with the fact that many smartphone users won’t be able to afford an iPhone for a while. The average selling price of an iPhone is $660, while Micromax sells phones ranging from $50 to $300. And other non-Indian device makers, like China-based Xiaomi, sell devices in the country for about $100.

    Moving forward
    Even if these 500 resellers pan out, it’ll likely take a while (think a few years, rather than months) for Apple to be a major smartphone player in India. Right now, the company has just 2% market share in the country.

    Apple is playing the long game in India, just as it has in China. The company faced some of the same hurdles in China that it will confront in India, yet China has become Apple’s most important smartphone market, and is quickly becoming one of its largest revenue markets as well. If things play out similarly in India, Apple’s small moves right now could pay off in big ways in a few years.

    The next billion-dollar Apple secret
    Apple forgot to show you something at its recent event, but a few Wall Street analysts and the Fool didn’t miss a beat: There’s a small company that’s powering Apple’s brand-new gadgets and the coming revolution in technology. And its stock price has nearly unlimited room to run for early-in-the-know investors!

  • BRI eyes syndicated loans as it opens Singapore branch

    BRI eyes syndicated loans as it opens Singapore branch

    State-owned Bank Rakyat Indonesia (BRI) will provide syndicated loans as part of a strategy to attract Indonesian companies following the opening of the lender’s branch office in Singapore.

    The lender will allocate at least US$100 million in the first year to Indonesian companies that are seeking offshore funding, an executive says.

    “We are aiming to lend at least $100 million of syndicated loans in the next 12 months. We already have some prospective loans in the pipeline, but the process will not be instant,” Azizatun Azhimah, general manager for BRI’s Singapore branch, said on the sidelines of the branch opening on Wednesday.

    Loans for any projects would be assessed based on their potential value, feasibility and compliance to the lender’s requirements, Azizatun said.

    BRI president director Asmawi Syam said the bank saw syndicated loans as a prospective type of lending to help boost its international business as well as finance infrastructure developments in Indonesia.

    “We can learn much about that type of loan in Singapore and collaborate with local and international banks here to grab opportunities.”

    According to Asmawi, demand for infrastructure financing will increase as more Singaporean investors get attracted to start investing in Indonesia’s infrastructure and other sectors following President Joko “Jokowi” Widodo’s visit to the city-state on Tuesday, saying that “the launch of BRI Singapore branch is well timed with the state visit”.

    “President Jokowi has invited Singaporean investors to help develop our infrastructure, so that BRI hopes to build a bridge between them and Singaporean and international banks as BRI is more experienced in financing infrastructure projects in Indonesia, such as power plants, seaports, airports and toll roads,” Asmawi said.

    President Jokowi met over 150 Singapore business leaders at a dialogue on Tuesday to discuss Indonesia’s economic priorities, foreign investments and partnerships in conjunction with his state visit to meet Singapore’s Prime Minister Lee Hsien Loong.

    Indonesia, Southeast Asia’s largest economy, needs to boost its infrastructure development and revitalize its manufacturing sector so as to achieve 7 percent economic growth by 2019.

    Asmawi said BRI was prepared to join the competition in the international banking business as it would ensure the competitiveness of the pricing offered by its services, adding that “our overall services will cover funding and lending facilities for corporate customers, including treasury, priority banking and trade finance”.

    “The Singapore market has big potential, so that we hope to break even in revenue in the second year, which is faster than the average overseas branches of banks,” Asmawi said while refusing to mention the revenue target.

    The new Rp 30 billion (US$2.2 million) Singapore offshore branch adds to BRI’s four existing overseas offices — BRI New York Agency, BRI Cayman Island Branch, BRI Hong Kong Representative Office and BRI Remittance Office.

    The Singapore branch will be able to provide wholesale banking services, such as trade finance and remittance as well as wholesale fund management.

    The branch, which is categorized as an “offshore branch” according to Monetary Authority of Singapore’s (MAS) regulation, has limited operation in wholesale or corporate banking services. Meanwhile, foreign banks under the “full branch” category in Singapore are allowed to operate wholesale and retail banking services as well.

    MAS granted the license to BRI in June after the bank applied in 2013 to be one of the players in Singapore’s foreign bank market in preparation for the ASEAN Economic Community’s (AEC) financial and banking integration in 2020, when certain grades of banks and financial companies will be allowed to operate freely across the region.

    On the sidelines of the launch, Coordinating Economic Minister Sofyan Djalil said the government applauded BRI’s move in entering Singapore’s banking market as the city-state was famous for being difficult to penetrate due to tight restrictions and requirements for foreign banks.

    “This action is positive because we are entering the AEC, so that our banks should prepare themselves to operate regionally. By being exposed more to the international market, BRI is expected to tap more resources to improve itself and its customers as well as to contribute to Indonesia’s economy.”

     

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  • Lawson to open 450 stores in Japan this year

    Lawson to open 450 stores in Japan this year

    Even though Japan’s convenience store sector faces numerous challenges, the country’s second-largest operator, Lawson, plans to open another 450 stores this year, the company’s CEO has revealed.

    Genichi Tamatsuka said there are 55,000 convenience stores in Japan but the market has not yet reached saturation point.

    He sees massive potential for growth because of demographic and other social changes that are altering consumers’ buying behaviour.

    “Whereas people used to go to a big supermarket and prepare meals for a family of four or five, now they’re busier, they’re older, and they prefer to buy in a small neighbourhood store,” he explained.

    Lawson currently runs a network of 12,000 stores – soon to be expanded – and, combined with its logistical muscle, Tamatsuka expressed confidence that it would be able to meet the needs of these “combini” neighbourhood stores.

    “With our scale of 12,000 stores, our supply chain and platform, we can supply food and necessities to these neighbourhoods,” he said.

    Expansion overseas is another source of potential growth, he indicated, considering the value placed on the high level of customer service provided by Japanese retailers.

    Lawson has 500 stores in China and has also started up operations in Thailand, Indonesia and the Philippines.

    Despite Tamatsuka’s confidence, research group Euromonitor earlier this year published a more downbeat assessment of Japan’s retail landscape.

    “Japanese grocery retailers are expected to face numerous challenges imposed by such factors as changing demographics and operational difficulties,” it warned.

    However, in what could be seen as endorsement of Tamatsuka’s expansion strategy, the report went on to say, “in order to fight against such negative circumstances, grocery retailers may attempt to expand in size and diversify business portfolios”.

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  • H&M may open 30 stores in India by early 2016

    H&M may open 30 stores in India by early 2016

    Following IKEA announcing the purchase of 13 acres in Hyderabad for its first store in India on Friday, it’s the turn of another Swedish chain, Hennes & Mauritz (H&M), to go for a big rollout in the country. H&M, rival to another European fast fashion brand, Zara, is likely to open as many as 30 stores in India by early next year, sources say.

    The Swedish fashion chain, in the middle of major global expansion, is learnt to have already closed about 15 real estate lease deals in India, and is in the process of raising this count. The group, with $22 billion in global sales and 3,600 outlets across 59 markets, recently announced it would launch its first India store in the national capital. The store, of about 25,000 sq ft, would be located at a popular mall.

    At the time of making its application for investing about Rs 750 crore into the country, H&M had said it planned to open 50 outlets across India through the next few years. Zara, in a joint venture with Tata group’s Trent, has 16 stores across the country; it posted $114 million in sales for the year ended March this year.

    H&M did not reply to a Business Standard questionnaire on store openings and lease deals.

    According to H&M’s latest quarterly report, the company plans to open as many as 400 stores across the world this year. Besides India, the group’s expansion thrust is on the US and China. In fact, in North America, both H&M and Inditex’s Zara are giving stiff competition to the US-based Gap. Recently, Gap announced its plan to shut 175 stores in the US.

    Besides international expansion, H&M is also focused on going online. Of late, the group has gone online in Poland, Portugal, Romania, the Czech Republic, Bulgaria, Slovakia, Hungary and Belgium, among others.

    Though the company secured the government’s approval to invest in India early last year, it has delayed its launch partly due to a slow retail environment in its home market, pressure on margins and focus on some other key markets. Analysts said general elections in India, as well as political uncertainties, might also have added to the delay.

    H&M’s big India play at this point is significant because there has been no action in the international brick-and-mortar retail scene for about a year, except Gap launching its store recently.

    The National Democratic Alliance government at the Centre is opposed to foreign direct investment (FDI) in multi-brand retail. The UK’s Tesco, in partnership with the Tata group, is the only entity in multi-brand retail to have invested in India (Maharashtra and Karnataka). In 2013, American major Walmart parted ways with its partner, Bharti group.

    While limiting its business to wholesale, Walmart has not shown any interest in entering India’s multi-brand sector. French chain Carrefour, which also had wholesale stores in the country, made an exit last year, in the absence of a favourable multi-brand policy.

    In multi-brand retail, FDI is capped at 51 per cent, while 100 per cent foreign investment is allowed in single-brand retail. However, despite the fact that there’s no cap on FDI in single brand retail, companies such as IKEA and H&M are believed to have been worried over a clause pertaining to mandatory 30 per cent sourcing from India.

  • Hero to open more stores to boost revenues

    Hero to open more stores to boost revenues

    Retail company PT Hero Supermarket (Hero) will spend up to Rp 640 billion (US$48 million) this year for business expansion with retail plans to open stores in several cities across the country.

    The move will be made to restore the company’s disappointing financial performance earlier this year.

    Hero, which operates hypermarkets, supermarkets, convenience stores, drug stores and furniture stores, plans to open four Giant Ekstra hypermarkets and six mid-sized Giant Ekspres supermarkets in several regions, including Bangka and Lombok. Arief Istanto, a director with Hero, said each Giant Ekstra would cost between Rp 100 billion and Rp 150 billion while the Giant Ekspres would cost about Rp 20 billion. It means the company will allocate between Rp 440 billion and Rp 640 billion in capital expenditure to build the stores this year.

    Arif said the company aimed to improve its financial performance and hoped to book profits like it did in previous years. The company will use its internal funds for the expansion.

    “We would like to expand our network so that it can attract more customers. Thus, our top line will also increase,” he said after an extraordinary shareholders’ meeting on Tuesday. At the meeting, they agreed not to disburse the Rp 43.75 billion in dividends to shareholders and instead spend it on the company’s business expansion plan.

    Hero Supermarket previously suffered Rp 33.19 billion in net losses during the first quarter of this year amid a 14 percent increase in net revenues of Rp 3.57 trillion, making it the worst performer in the country’s retail industry.

    Last year, the company saw its net profit dive to Rp 43.75 billion from Rp 671.13 billion in 2013. A 13.94 percent increase in revenues, which stood at Rp 13.56 trillion at that time, could not ease the ballooning operating expenses, which hit Rp 3.31 trillion.

    “Our 2014 financial results were disappointing with weak sales growth and a significant increase in operating costs across all businesses as well as higher overhead and store pre-opening costs,” Stephane Deutsch, Hero’s president director, said in a statement.

    In 2014, the company launched a flagship furniture store under Swedish brand IKEA in Alam Sutera, Tangerang, Banten, some 25 kilometers west of Jakarta’s city center.

    Arief confirmed Hero has planned to build five more IKEA stores in the future as the company was upbeat about the prospects of the franchise furniture store.

    “At the moment, we are looking for land for the second store. It is supposed to be done this year,” Arief said, adding that the second store would be located in Greater Jakarta.

    According to him, IKEA has contributed around Rp 200 billion to Hero’s revenues in the first quarter of this year,

    Hero says it hopes to book 30 to 40 percent growth in revenues during the fasting month of Ramadhan this year. The company currently operates 33 Hero supermarket stores, 341 Guardian healthcare stores, 98 Starmart convenience stores, 53 Giant Ekstra stores, 121 Giant Ekspres stores, two Jason supermarket stores and one IKEA store.

  • As platinum gains popularity, more outlets set to come up

    As platinum gains popularity, more outlets set to come up

    As platinum gains popularity in India, the Platinum Guild India expects to see the number of outlets going up from 800 now to over 1200 by March 2016.

    Vaishali Banerjee, India Manager of Platinum Guild India, told that within a short span, India has become the fourth largest market for platinum jewellery in the world and this can only get bigger as more youth take to this precious metal.

    The growth in India has been particularly rapid in the past 5 years and has grown to over 5 tonnes last year as against about 400 kg in 2008. This speaks volumes of how young people are embracing Platinum jewellery, whose trade is getting extremely organised with big retail stores setting up exclusive zones for display of platinum jewellery, she said.

    What started with platinum couple bands has gradually gained with men’s jewellery spanning chains and bracelets and now has grown into the Evara range of bridal jewellery segment. Introduced about six months ago, it is gaining popularity as its charm is in co-existence with popular gold jewellery in India. Though gold jewellery is tops when it comes to bridal jewellery, a number of youngsters are taking to platinum jewellery, she said.

    Vaishali said, “We are pleased at the way Platinum Evara has been received by consumers and trade, as platinum symbolises love and resonates well with the new bride and groom. There is huge appeal for platinum amongst youngsters.”

    Varghese Alukka, Managing Director of Jos Alukkas Jewellery said, “From 34 stores in the southern market in the country, we are looking at growing this to 50 stores in the next two years.”

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  • 7-Eleven Vietnam plans 1000 stores

    7-Eleven Vietnam plans 1000 stores

    The world’s largest convenience store operator has confirmed the signing of a master franchisee in Vietnam and now plans 1000 stores over the next decade.

    7-Eleven Vietnam will be a partnership between the Japanese-headquartered US subsidiary and a new venture called Seven System Vietnam Co. While the US announcement did not identify the parties behind Seven System, Japan’s Nikkei news agency identified the partner as IFB Vietnam, which owns the Pizza Hut franchise in Vietnam.

    Nikkei says the first store will open in the nation’s commercial hub, Ho Chi Minh City, with a target of 100 stores within the first three years and 1000 within 10.

    7-Eleven has 56,400 stores globally and Vietnam will mark its 18th international market.

    Japan’s Seven & I Holdings has openly been assessing a Vietnam entry for some years. The convenience store sector is still at an early development stage with Circle K and FamilyMart the early entrants and Thailand’s B-smart, part of the Berlei Jucker Group, playing a cameo role.

    Given the booming convenience store market in other Southeast Asian countries, especially Thailand, the Philippines, Indonesia and Malaysia, 7-Eleven’s superior logistics, product mix, marketing and location selection should see it assume market leadership there well within the first 10 year window.

    7-Eleven’s US statement says, somewhat enigmatically, the new Vietnam business will “construct 7-Eleven stores [and] convert existing locations to the 7-Eleven brand” without disclosing which brand is to be swallowed up.

    While the initial stores will be company-owned, the company says it will eventually franchise stores to local entrepreneurs.

    “7-Eleven’s entry into the country aims to enhance the convenience-shopping experience for Vietnamese customers and contribute to modernizing small retailers in the world’s 13th most populous country.”

    7-Eleven US and its parent company, Seven-Eleven Japan, will provide start-up support for its newest master franchisee by assisting Seven System Vietnam in implementing 7-Eleven’s strategies of market concentration, team merchandising and item by item management. Vietnam marks 7-Eleven’s first new market in the Pacific Rim since it entered Indonesia in 2009.

    It already operates in the US, Canada, Mexico, Japan, Thailand, South Korea, Taiwan, China, The Philippines, Australia, Singapore, Malaysia, Indonesia, Norway, Sweden, Denmark and the UAE, where the first 7-Eleven store will open in the third quarter of this year.

  • MasterCard expands in Myanmar

    MasterCard expands in Myanmar

    MasterCard has just launched yet another prepaid card in Myanmar, this time with Myanma Apex Bank Limited (MAB Bank).

    Its launch comes exactly three years on from the lifting of sanctions in Myanmar and affirms MasterCard’s commitment to  provide safer and easier ways for Myanmar residents to pay for their travels.

    The new prepaid card is also timely given the latest MasterCard survey on consumer purchasing priorities in travel indicates that three out of five Myanmar consumers surveyed intend to travel within the next 12 months (either as much, or more than they did in the past 12 months).

    The MAB Travel Prepaid MasterCard provides a secure way for consumers to make payment when travelling overseas for leisure, business or education, and also when shopping on e-commerce sites.
    “We know that leisure travel and shopping are on the rise among Myanmar citizens and we hope this product will help to meet their needs,” said Win Min Khine, managing director, Myanmar Apex Bank.

    MasterCard country manager, Thailand & Myanmar, Antonio Corro said: “Myanmar’s gradual opening up presents many opportunities for entrepreneurship and commerce to flourish, and their progressive participation in the global payments system that MasterCard enables not only aids the development of the local payments landscape, but also facilitates global connections.”

    Since 2012, MasterCard has launched prepaid cards together with Co-operative Bank, Kanbawza Bank, Ayeyarwady Bank and Myanmar Citizen Bank with 2C2P, the last of which was also Myanmar’s first smartphone-enabled Prepaid Card.

    At present, more than 2,000 restaurants, retail outlets and hotels in Myanmar accept payment cards.

  • Tawandang eyes foreign expansion

    Tawandang eyes foreign expansion

    Thai-based brewery restaurant chain Tawandang is planning further expansion at home and abroad as its concept gains favour with consumers.

    There are currently three Tawandang Germany brewery restaurants operating in Bangkok, with a third scheduled to open on August 7. The first two are located on Rama III and Ram Intra, and the third will open on Chaeng Watthana Rd.

    Tawandang also has breweries in Singapore and Cambodia and a restaurant in Australia.

    In an interview with the Bangkok Post newspaper, CEO Supote Teerawatanachai said the company is now considering expanding into Myanmar and the UK.

    Meanwhile, a further two outlets have been confirmed for Bangkok over the next five years- one at Srinakarin and the other at Bang Khae, each outlet to cost about 200 million THB (US$5.7 million)

    The new Chaeng Watthana Tawandang brewery restaurant features 5000 sqm of space and a dining hall which can seat 1200.

    “The brewery business has shown significant growth every year we have operated,” Supote told the bangkok Post.

    “Even though spending per head may be down because of the poor economy, we believe our sales this year will grow 15 per cent as expected from more new clients and a bigger customer base.”

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  • China Bank set to open 50 more branches

    China Bank set to open 50 more branches

    CHINA Banking Corp., (China Bank) is planning to open 50 branches this year, on the back of the strong economic fundamentals of the country.

    Of the target branch expansion, three to four banks are set to open in Cebu to strengthen the bank’s foothold in the province.

    Cebu is home to China Bank’s first provincial branch—Cebu Magallanes, which opened in 1948.

    According to China Bank president and chief executive officer Ricardo Chua, Cebu is an important market, contributing 30 percent growth. He said the bank’s planned expansion in Cebu signifies their continued optimism to the strong growth story of Cebu, citing the province’s flourishing industries.

    “We are actually making a big bet in Cebu forward,” said Chua, citing the numerous developments around Cebu such as malls, infrastructure development and tourism, among others.

    Last week, the group opened its BPO tower—China Bank Corporate Center in Cebu Business Park.

    At present, China Bank has about 24 branches in Cebu.

    Alexander Escuchua, senior vice president and head of investor and corporate relations at China Bank, said they foresee growth in all of the bank’s products in retail, corporate and SME.

    Earnings

    “China Bank’s subsidiaries China Bank Savings (CBS) and Plantersbank have various programs, all meant to improve the banks’s performance this year at the same time meet all the customer needs,” Escuchua told Sun.Star Cebu.

    China Bank posted a consolidated net income of P1.21 billion for the first three months of the year, four percent higher than the earnings for the same period in 2014, on the back of strong growth of its core businesses.

    Its net interest income grew 23 percent to P3.71 billion, driven by a robust 31 percent jump in interest revenues from loans. Non-interest income increased six percent to P1.07 billion, boosted by higher trading gains and branch-based fees.

    In the first quarter, one China Bank and seven CBS branches were opened, all part of the planned 50 new branches for the year.

    Network

    Founded in 1920, China Bank is the country’s first privately-owned local commercial bank and now the fifth largest privately-owned universal bank in terms of assets. It serves the banking needs of the corporate, commercial, and retail markets.

    With the acquisition of Plantersbank in 2014 and its eventual merger with CBS, China Bank plans on building a stronger platform for SME finance. The China Bank Group now has 482 branches to date with 318 China Bank, 86 CBS, and 78 Plantersbank branches.

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  • King Living Singapore opens showroom

    King Living Singapore opens showroom

    International furniture designer, manufacturer and retailer, King Living has opened a showroom in Singapore.

    The Australian based, family-owned company, founded in 1977, focuses on contemporary furniture design, especially sofas and King Living says it plans to offer Singaporeans “new ideas, inspiration and solutions for all areas of their home” now it has debuted in the city state.

    The showroom, at 22 Kallang Ave in the Hong Aik Building, offers a large collection of King Living designs, as well as a range of Italian beds, coffee and dining tables, chairs and storage systems from leading Milan furniture designer and manufacturer Former Italy, stocked exclusively by King Living.

    “King Living is incredibly proud to introduce its wide range of furniture solutions to Singapore residents,” said Renata Bayer-Volf, the company’s GM.

    “This showroom is inspiring and contemporary, displaying some of the latest King Living releases in beautiful lifestyle settings that help customers visualise the potential of each design in their own home.

    “Including a wide selection of pieces from Former Italy, with Italian design and styling, we are confident Singaporeans will embrace our modern and luxurious furniture that complements the urban lifestyle.”

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  • Cold Stone Creamery to open in India, Sri Lanka

    Cold Stone Creamery to open in India, Sri Lanka

    US ice cream chain Cold Stone Creamery  is to open multiple stores in India and Sri Lanka.

    Parent Kahala Brands has partnered with Tablez Food Company, part of Lulu Group International, to open 40 locations in India over the next five years and five in Sri Lanka.

    The first Indian store will open by the end of the year at the Lulu Mall, a premier mall in Kochi and will be followed by more in Bangalore initially.

    “Tablez Food Company is a leading organisation in India and a perfect fit for the Cold Stone Creamery brand,” said Eddy Jimenez, senior VP of international operations and development at Kahala.

    “It specialises in unique, home-grown and international cuisines and has acquired the rights to many leading franchise concepts. Tablez Food Company is dedicated to seeking out concepts that bring inspiring experiences to their customers.”

    Lulu Group is diversified in retail, imports & exports, trading, shipping, IT, travel & tourism and education. Tablez currently operates multiple food and beverage brands across India, Sri Lanka and the UAE including Peppermill Indian cuisine, London Dairy, Galito’s Flamed Chicken, Famous Dave’s Barbecue and The Sugar Factory..

    “Cold Stone Creamery offers the best quality product and offers an amazing in-store experience that the international market has embraced for a number of years,” said Shafeena Yussuf Ali, Tablez Food Company chairperson.

    “We now want to bring this unique experience to the India and Sri Lanka markets where we strongly believe that people will embrace not only the quality of the product, but also the overall guest experience.

    “Over the next five years, Tablez Food Company plans to invest around $11-13 million in the Cold Stone Creamery business across India and Sri Lanka.”

    In Asia, Cold Stone Creamery has established store networks in Japan, Thailand, the Philippines and Indonesia. Last month it announced a partnership in Vietnam.

  • Costa Coffee Manila opens

    Costa Coffee Manila opens

    The first of five Costa Coffee Manila cafes has opened its doors, marking the British-headquartered coffee chain’s Philippines debut.

    Costa, the world’s second largest dedicated coffee chain behind Starbucks, has opened in Eastwood City Mall in Quezon City, metropolitan Manila.

    Four more cafes are planned by the year’s end in Bonifacio Global City, Robinsons Ermita, Tera Towers and Robinsons Antipolo.

    The Eastwood City Mall cafe is spread over two floors and features distressed timber fittings, and a sofa upholstered with the Union Jack to reflect the brand’s heritage.

    For its Philippines entry, Costa has partnered with Robinsons Retail Holdings, which owns the Robinsons Department Store, supermarket, Handyman, True Value, Toys ‘R’ Us, and Daiso retail banners in the Philippines.

    Costa Coffee has over 3000 stores worldwide, including 1800 in the UK and 400 in the Middle East.

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  • Swiss Skin Care Product K.Diamond Now Available in China

    Swiss Skin Care Product K.Diamond Now Available in China

    K.Diamond is a revolutionary skin care product that comes from the house of Swiss Lausanne Research and Development Center, which is a world leader in cell technology research. Recently, the Switzerland based lab decided to distribute and sell its products directly through its authorized agent in China. The product has reached China and it can be found in retail stores. The creators of the breakthrough skin care product have maintained that they have reinvented fundamentals of skin care that were used during ancient times.

    Swiss Lausanne Research and Development Center bears a 53 year old legacy of manufacturing skin care products. A lot of their skin care products are used in the five-star hotels of Switzerland. However, the manufacturers have always focused on research and innovation rather than marketing and promotion. In 2010, the research lab came up with a series of micro-plastic applicators that were introduced in the Chinese market. The creators have claimed that K.Diamond is a value-for-money product which is gradually picking up in popularity across Chinese mainland. The developers have claimed that the skin care products that are now being available in China can have miraculous effects.

    One of the senior researchers from Swiss Lausanne Research and Development Center recently met the press here in Beijing and he talked about the future plans and objectives of his lab at great length. He said, “We are more of a research and innovations lab than a skin care products manufacturer. We know consumers in China have always been waiting for a truly beneficial product like K.Diamond and we must say that the huge demand in Chinese market can now be successfully met by our China based general suppliers. All products are shipped directly from our Switzerland based lab and our local supply chain managers and distributors are doing a commendable job in taking the products to the Chinese retail market.” He also indicated that the K.Diamond product distributor network would be expanded in the near future.

     

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  • Ikea India buys site for first store

    Ikea India buys site for first store

    Ikea India has acquired the land for the first of 25 stores planned for the country.

    The Swedish home furnishings company says the 13 acre site is located close to the IT hub Hitec City and is close to public transport, including a metro line under construction.

    Further details were scant, except that the land was acquired from the Telangana government. Ikea India plans 24 more stores in the long term and is currently evaluating sites in Mumbai, Bengaluru and Delhi NCR.

    Each Ikea store will cost about $100 million to establish, including land and construction costs.

    Part of the arrangement allowing Ikea to open single brand stores in India is that it has to source product from within the country. The company already has about 50 suppliers in India employing some 45,000 people. Now it is actively searching for more suppliers to boost the proportion of locally-sourced stock.

    IKEA India CEO Juvencio Maeztu described India as a promising market because it offers the company the opportunity to source, retail, conduct CSR initiatives through Ikea charitable foundation and empower social entrepreneurs through next generation projects.

    “Our focus now is to bring all of it together in Hyderabad as we have bought our first land to build an Ikea store. We will bring a unique shopping experience through our inspiring stores offering affordable home furnishing products,” he said.

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