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  • Golden Gaytime and Cinnabon Blend Nostalgia and Indulgence in New Frozen Treat for Australia

    Golden Gaytime and Cinnabon Blend Nostalgia and Indulgence in New Frozen Treat for Australia

    Golden Gaytime, a well-loved brand belonging to Streets Ice Cream, has teamed up with the renowned bakery chain, Cinnabon, to debut a co-branded frozen dessert in Australia. Named “Junior,” this innovative dessert fuses Cinnabon’s signature cinnamon and cream cheese flavors with Golden Gaytime’s chocolate coating and biscuit crumb outer layer.

    Meeting Consumer Demands with a Sweet Collaboration

    The launch of this novel frozen treat is in response to the increasing consumer preference for nostalgic food combinations and rich, indulgent products. The promotional campaign for the dessert humorously portrays a fictional romance between the two brands. This unique narrative is designed to not just attract but also engage consumers, sparking conversations and fueling a sense of camaraderie among fans.

    The single-serving of this dessert will be available at petrol stations and convenience stores across Australia. Furthermore, a four-pack variant of the treat is slated for release on August 24 in supermarkets throughout the country.

    Kalli Swaik, the Managing Director for Streets Ice Cream ANZ, said, “Golden Gaytime has always maintained a light-hearted brand image, so representing this collaboration as a love story seemed like the perfect way to generate buzz.”

    Cinnabon’s Growth Strategy

    For Cinnabon, which operates over 2,400 bakeries in 65 countries worldwide, this project aligns with its ongoing multi-channel licensing strategy. The bakery chain emphasizes on extending its growth beyond physical outlets by infiltrating commercial grocery channels.

    In a similar vein, Streets Ice Cream also previously partnered with home fragrance brand Dusk, broadening their product range to include home fragrances, bath, and personal care products.

    Questions & Answers

    What unique features does the new dessert from Golden Gaytime and Cinnabon offer?
    The dessert combines Cinnabon’s cinnamon and cream cheese flavors with Golden Gaytime’s chocolate coating and biscuit crumb outer layer.

    Where can consumers purchase this new frozen treat?
    The dessert can be purchased at petrol stations and convenience stores across Australia, and a four-pack variant will be available in supermarkets from August 24.

    What is Cinnabon’s approach towards growth?
    Cinnabon focuses on driving growth outside its physical storefronts by entering commercial grocery channels as a part of its multi-channel licensing strategy.

  • Gold Demand Drops in Vietnam Alone Amid Southeast Asias Rising Market Trend

    Gold Demand Drops in Vietnam Alone Amid Southeast Asias Rising Market Trend

    In the most recent quarter, Vietnam became the only Southeast Asian country to experience a decrease in the demand for gold bars and coins. This drop in interest from consumers is largely attributed to the steep decline in gold prices.

    In the second quarter, the demand for investment gold in Vietnam fell by 31% year-on-year to 6.5 tonnes, according to the World Gold Council. This placed Vietnam third in Southeast Asian sales, following Indonesia, which sold 14.5 tonnes, and Thailand, which sold 10.9 tonnes.

    Factors Influencing the Decline

    According to a recent report by the World Gold Council, several factors contributed to the weakened demand in Vietnam. Lower local prices dampened consumer sentiment, while import quotas distorted market conditions. This made the local price premium high, discouraging potential buyers.

    As of now, Vietnam’s gold bar price has fallen by 7.7% since the beginning of the year, marking a 26% decrease from its peak at the end of January.

    In the first half of the year, Vietnam’s total sales of gold bars and coins amounted to 15.6 tonnes. This figure is considerably lower than that of Indonesia, which sold 38.1 tonnes, and Thailand, which sold 20.9 tonnes.

    Regional Comparison

    In tandem with the decline in gold bar and coin demand, Vietnam also reported the region’s most significant year-on-year decrease in jewelry demand, which fell by 28% to 1.8 tonnes.

    Meanwhile, other countries in the region experienced growth in their gold markets. Indonesia emerged as one of the fastest-growing gold markets globally in the second quarter, with its demand surging by 40% year-on-year.

    Thailand also had a strong second quarter, marking its best since 2019, as the drop in local gold prices stimulated bargain hunting.

    Overall, Southeast Asia – comprising Indonesia, Malaysia, Singapore, Thailand, and Vietnam – saw an increase in gold bar and coin sales in the second quarter, reaching 36.7 tonnes, a 7.6% increase from the previous year. This contrasts with the global demand for bars and coins in the second quarter, which fell by 3% to 307.1 tonnes.

    Questions & Answers

    Why is there a declining gold bar and coin demand in Vietnam?
    The declining demand is largely due to the falling gold prices, which have dampened consumer sentiment. Additionally, import quotas have distorted market conditions, leading to discouragingly high local price premiums.

    How does Vietnam’s gold market compare to other Southeast Asian countries?
    Vietnam ranks third in gold bar and coin sales in Southeast Asia, following Indonesia and Thailand. However, unlike these countries, Vietnam has experienced a decrease in demand for gold bars and coins as well as jewelry.

    What trends are emerging in Southeast Asia’s gold market?
    The region saw an overall increase in gold bar and coin sales in the second quarter, with Indonesia emerging as one of the fastest-growing markets. Conversely, Vietnam experienced a decline in demand across all categories.

  • Golden Goose Leaps Forward: Chinese and Singaporean Investments Fuel Luxury Brands Global Expansion

    Golden Goose Leaps Forward: Chinese and Singaporean Investments Fuel Luxury Brands Global Expansion

    Italian luxury brand, Golden Goose, has recently gone through a significant change in ownership. A majority stake in the company is now held by Chinese private equity firm HSG, while Singapore’s investment firm, Temasek, has also joined as a minority shareholder. This move followed the necessary regulatory approvals, and while the financial specifics remain undisclosed, existing investor Permira has retained a minority stake.

    A New Chapter for Golden Goose

    The revamped ownership structure is poised to support the next phase of Golden Goose’s worldwide expansion, faithfully retaining the company’s focus on Italian craftsmanship and its direct-to-consumer retail model. Silvio Campara will maintain his position as CEO, managing the company in association with the existing management team. Effective immediately, former Gucci CEO, Marco Bizzarri has been appointed as the non-executive chairman of the company.

    Campara expressed his confidence in the new investors, stating that their vast experience in scaling international luxury brands and driving innovation will propel Golden Goose in achieving its global aspirations. He is anticipating benefiting from their expertise as they advance towards realizing their international ambitions and introducing Golden Goose to more “Dreamers” around the world.

    Campara added, “This investment is a testament to our unique model and the global appeal of our brand. It will aid us in unlocking Golden Goose’s full potential, establishing it as a leading Next Gen luxury brand.”

    Golden Goose’s Expansion over the Years

    Golden Goose has witnessed remarkable growth under the ownership of Permira, with its global retail presence now spanning 232 stores across Asia-Pacific, Europe, and the Americas. The brand has also boosted its direct-to-consumer business and invested in experiential retail concepts, including its signature in-store co-creation services, as it continues to expand its international presence.

    Questions & Answers

    What is the new ownership structure of Golden Goose?
    The luxury brand Golden Goose is now primarily owned by the Chinese private equity firm HSG, with Temasek, a Singaporean investment firm, and Permira as minority shareholders.

    Who will lead Golden Goose under the new ownership?
    Silvio Campara will continue to serve as CEO of Golden Goose, working alongside the existing management team. Marco Bizzarri, former Gucci CEO, has been appointed as the non-executive chairman.

    What are the future expansion plans of Golden Goose?
    Under the new ownership, Golden Goose plans to further expand its worldwide presence while maintaining its focus on Italian craftsmanship and its direct-to-consumer retail model. The company also plans to leverage the experience of its new investors to scale the brand and drive innovation.

  • Golden Goose Sees Stellar Rise in Revenue, Celebrates 21% Direct-to-Consumer Growth for FY25

    Golden Goose Sees Stellar Rise in Revenue, Celebrates 21% Direct-to-Consumer Growth for FY25

    Golden Goose, a prominent name in luxury footwear, has recently reinforced its direct-to-consumer sales strategy, a decision that has proved beneficial according to their recent earnings report.

    A Successful Year for Golden Goose

    For the fiscal year of 2025, Golden Goose reported a revenue of €734 million (US$858.1 million), a 15 per cent increase compared to the previous year. However, the company’s major achievement was a 21 per cent surge in direct-to-consumer sales, which now represent 81 per cent of the group’s total sales.

    Silvio Campara, CEO of Golden Goose Group, expressed his pride in the company’s FY25 results. He highlighted another year of robust and stable growth for Golden Goose.

    Expanding the Golden Goose Empire

    The luxury retailer added 17 new stores to its already expansive portfolio in 2025, bringing its total to a remarkable 232 stores worldwide. Sales saw an upward trend globally, with an 18 per cent increase in Europe, the Middle East, and Africa. Asia Pacific sales went up by 17 per cent, while growth in the Americas was marginally slower at 9 per cent.

    2025 also saw the introduction of Chinese private equity firm HSG as a majority shareholder.

    Campara expressed his delight at HSG and Temasek joining as strategic investors to further their international reach and realize their potential as a future-focused luxury brand.

    New Ventures and Future Outlook

    Campara also discussed some of the company’s successful initiatives. These included the introduction of new sneaker models such as True-Star and Marathon Speed, store openings in locations such as Mumbai, Tokyo, London Mount Street, and Naples, and the inauguration of the Padel Arena in Milan. The CEO emphasized their commitment to merging craftsmanship, culture, and community.

    Looking towards 2026 and beyond, Campara voiced his excitement about Golden Goose’s potential and his eagerness to bring more of Italy to their global community of admirers.

    Golden Goose recently unveiled a new concept store in Osaka, Japan, further expanding its international presence.

    Questions & Answers

    What was Golden Goose’s revenue for the fiscal year 2025?
    Golden Goose reported a revenue of €734 million (US$858.1 million) for the fiscal year 2025.

    What percentage of Golden Goose’s total sales in FY25 came from direct-to-consumer sales?
    81% of Golden Goose’s total sales in FY25 were from direct-to-consumer sales.

    What are some new initiatives by Golden Goose?
    Golden Goose launched new sneaker models such as True-Star and Marathon Speed, opened new stores in various international locations, and opened the Padel Arena in Milan.

  • Chinese Equity Firm HSG Acquires Majority Ownership of Luxury Sneaker Giant Golden Goose

    Chinese Equity Firm HSG Acquires Majority Ownership of Luxury Sneaker Giant Golden Goose

    Golden Goose, an Italian luxury sneaker manufacturer, announced on Friday that HSG, previously known as Sequoia Capital China, has become its main shareholder. The Chinese private equity firm acquired its stake from the current owner, Permira.

    Additional Investments

    Simultaneously, Temasek, Singapore’s investment firm, along with its subsidiary True Light, has purchased a minor stake in the Venice-based sneaker company. Golden Goose’s sneakers begin retailing at 500 euros a pair.

    This agreement values Golden Goose at approximately 2.5 billion euros (US$3 billion), including debt. The announcement did not disclose further financial specifics.

    Previous Ownership

    Permira, which bought Golden Goose in 2020 for 1.28 billion euros, will maintain a minor stake along with other existing shareholders, including Carlyle.

    Silvio Campara will remain the brand’s chief executive, while former Gucci CEO and current board member, Marco Bizzarri, will assume the role of non-executive chairman.

    Finalization of The Sale

    This sale concludes a process initiated by Permira in 2024. The British-owned private equity firm had attempted to publicly list Golden Goose on the Milan stock market but was compelled to withdraw the initial public offering due to market conditions.

    The transaction is anticipated to be finalized in the third quarter of next year. Earlier this year, HSG purchased a majority stake in the Stockholm-based audio equipment group, Marshall.

    In 2024, Golden Goose reported a revenue increase of 13% to 655 million euros, along with adjusted earnings before interest, tax, depreciation, and amortisation of 227 million euros.

    Questions & Answers

    Who is the new majority shareholder of Golden Goose?
    Chinese private equity firm HSG, formerly known as Sequoia Capital China, has become the majority shareholder of Golden Goose.

    Who are the minor stakeholders in Golden Goose?
    Permira, Carlyle, Singapore’s investment firm Temasek, and its subsidiary True Light hold minor stakes in Golden Goose.

    Who will lead Golden Goose after the change in ownership?
    Silvio Campara will continue as the brand’s chief executive, and Marco Bizzarri will become the non-executive chairman.

  • Golden Milestone: China Strikes Largest Gold Deposit Since 1949 Worth Nearly $193 Billion

    Golden Milestone: China Strikes Largest Gold Deposit Since 1949 Worth Nearly $193 Billion

    A significant gold deposit estimated to hold approximately 1,444 tonnes of reserves, valued at nearly US$193 billion, has been identified in China. This monumental find is the largest for the nation since 1949.

    The Discovery

    The find, termed as the Dadonggou deposit, is situated in China’s northeastern Liaoning Province. According to the country’s Ministry of Natural Resources, it is estimated to contain around 1,444.49 tonnes of gold within 2.586 billion tonnes of ore. Despite the ore being of a low grade, with an average grade of 0.56 grams per tonne, the sheer size of the deposit has earned it the title of the largest single gold discovery in China since 1949.

    With current market rates, the estimated value of the gold deposit is over 166 billion euro (US$192.9 billion).

    Collaborative Development

    The development of the Dadonggou mine is set to be a collaborative effort, with the China National Gold Group, Liaoning Mineral Geology Group, and the Yingkou Municipal Government partnering up. Investment plans from 2024 to 2027 indicate an estimated expenditure of over 20 billion yuan (US$2.82 billion). This investment will be directed towards establishing a comprehensive industry chain which includes exploration, mining, processing, smelting, and gold jewelry production.

    Previous Discoveries

    In the past year, China has reported several similar gold deposit discoveries, such as a substantial find in Hunan province. Prior to these discoveries, the world’s largest known gold deposits typically held only a few hundred tonnes.

    Industry estimates previously suggested that around 3,000 tonnes of gold remained undiscovered in China. This figure was considered to be a quarter of the untapped reserves in Russia and Australia. However, the frequency of new discoveries implies that China’s gold reserves could be considerably larger than previously believed.

    Recent Trends

    China has been increasing its mineral exploration activities in recent years. In 2024, the country produced 377.24 tonnes of gold, marking a 0.56% increase from the previous year. Domestic consumption of gold reached 985.31 tonnes, with the demand for gold bars and coins rising by over 24%.

    This latest discovery coincides with an increase in the global demand and price for gold. The value of the precious metal has soared by over 50% this year, reaching a peak of $4,381.21 per ounce on October 20. Factors contributing to this surge include a weaker dollar, geopolitical tensions, and aggressive central bank buying in emerging economies aiming to diversify their reserves.

    Questions & Answers

    Where was the largest gold deposit found in China?
    The largest gold deposit in China, named the Dadonggou deposit, was discovered in the northeastern Liaoning Province.

    What is the estimated value of the Dadonggou deposit?
    The estimated value of the Dadonggou deposit, at current prices, is approximately 166 billion euro or US$192.9 billion.

    Who will be responsible for the development of the Dadonggou mine?
    The development of the Dadonggou mine will be a joint project between the China National Gold Group, Liaoning Mineral Geology Group, and the Yingkou Municipal Government.

  • Gold prices inch down

    Gold prices inch down

    SJC gold price dropped 0.15% to VND67.3 million ($2,865.05) per tael Monday morning. Gold ring price went up 0.46% to VND54.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.

    Reuters reported that global gold prices hit a more than four-week low on Monday, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might keep hiking interest rates.

    Spot gold was little changed at $1,865.88 per ounce, as of 0045 GMT, after hitting its lowest level since January 6 earlier in the session.

    The dollar index was 0.2% higher, making gold less attractive for buyers holding other currencies.

    Data on Friday showed U.S. job growth accelerated sharply last month, with nonfarm payrolls surging by 517,000 jobs – well above an estimated 185,000. The unemployment rate hit more than a 53-1/2-year low of 3.4%.

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  • MOP$38,888,888 to Win at Galaxy Macau’s Golden CNY Celebration

    MOP$38,888,888 to Win at Galaxy Macau’s Golden CNY Celebration

    This Chinese New Year, join a golden celebration that’s positively dripping with luck and fortunate, only at The Promenade Shops at Galaxy Macau™. From 9 January to 26 February 2017, Macau’s luxury shopping destination is hosting the “Love My Fortune” Chinese New Year Promotion, offering shoppers the resplendent opportunity to win instant shopping rewards across Galaxy Macau’s integrated resort offerings. What’s more, seven shoppers will receive the Lucky Draw glittering grand prize – MOP$88,888 to spend at The Promenade Shops, for a total prize value up to MOP$38,888,888.

    During the “Love My Fortune” promotion, every shopper who reaches the designated minimum spend will receive an instant reward! Instant rewards include food and beverage vouchers to Galaxy Macau’s vast collection of casual eateries, stylish cafes and Michelin-starred restaurants; gift certificates to The Promenade Shops; and a one-night stay in a Deluxe Room at the JW Marriott Hotel Macau and Galaxy Hotel.

    Simply shop MOP$8,000 or more across a maximum of two retail transactions at The Promenade Shops, then spin the fortune wheel to claim your prize. Shoppers are also automatically entered into the weekly Lucky Draw! Seven lucky draw winners will receive MOP$88,888 gift certificates to spend at The Promenade Shops.

    Kevin Clayton, Chief Marketing Officer of Galaxy Entertainment Group, said, “Galaxy Macau is ringing in the New Year with a festive promotion bringing luck and fortune to all! We’ve designed this gilded campaign with the knowledge that shoppers seek more than great deals and exclusive items, although of course The Promenade Shops has those too, shoppers also seek opportunities to indulge in the aspirational lifestyle, entertainment and culinary experiences of Galaxy Macau. In addition to the MOP$38,888,888 in total rewards up for grabs, including seven Lucky Draw winners each receiving MOP$88,888 gift certificates, The Promenade Shops also welcomes Cha Bei lifestyle cafe and The Apron oyster bar and grill. The Promenade is certainly shining bright with prosperity and joy this Chinese New Year.”

    The Promenade Shops will present the exclusive Chinese New Year fashion items and fashion lovers will radiate charm in the coming festival. At The Promenade Shops, visitors will find over 200 luxury and lifestyle brands, including top-name flagships, boutique designers and high-street favorites. Committed to delivering on the wants and needs of Macau’s most exclusive shoppers, The Promenade Shops has also brought a wide array of brands to Macau for the very first time. These first-to-Macau shops include the Korean art and fashion brand Youk Shim Won and the newly opened kp (new york) inc., showcasing beautifully crafted exotic leather goods at the brand’s first stand-alone store in the Greater China region.

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  • Enjoy “Golden Moments” at Singapore Golden Week 2016

    Enjoy “Golden Moments” at Singapore Golden Week 2016

    Come 30 September, Singapore Retailers Association (SRA) will launch Singapore Golden Week (SGW) 2016 – a brand new lifestyle event to be held over three weekends from 30 September to 16 October, with global payment network UnionPay as the Official Card. With the aim of heightening the appeal of Singapore as a choice lifestyle destination for locals and tourists, the inaugural SGW 2016 will feature a suite of golden retail privileges, sure-win rewards and pampering experiences for consumers to indulge in. 

    GOLDEN “RETAIL” PRIVILEGES

    Over 200 participating outlets across retail, food and beverage (F&B), beauty and wellness, as well as hotels and attractions categories among others, will be giving UnionPay Cardholders more reasons to spend with exclusive “Golden Retail Privileges” at SGW 2016. 

    Cardholders can enjoy exclusive discounts as well as gifts with purchase when they shop at participating merchants with their UnionPay cards at SGW 2016. Popular participating merchants include department stores Isetan Scotts, Metro and Robinsons; clothing labels Dockers, Dorothy Perkins, Karen Millen, Levi’s, T.M.Lewin, Topshop, Topman, Warehouse; local attraction Alive Museum and many more.

    GOLDEN “SURE-WIN” REWARDS

    During SGW 2016, Cardholders who make a minimum purchase of S$50* with their UnionPay card anywhere in Singapore can take part in the “Golden Sure-Win Rewards” game located at ION Orchard’s Level 1 Atrium. In addition, shoppers who make purchases within ION Orchard can enjoy double chances of winning. Shoppers who spend $688 and above at selected Premier Tax Free merchants are entitled to a free limousine ride*. With over S$10,000 worth of shopping vouchers and prizes up for grabs in the “Golden Sure-Win Rewards” game, everyone can be a winner at SGW 2016!

    GOLDEN “PAMPERING” EXPERIENCES AT THE UNIONPAY GOLDEN LOUNGE

    In addition to the golden retail privileges and sure-win rewards, SGW 2016 promises pampering experiences for all locals and tourists, including non UnionPay Cardholders. Simply pop by the exclusive UnionPay “Golden Pampering Lounge” located at ION Orchard’s Level 1 Atrium, to enjoy a fresh cup of gourmet coffee, free flow gourmet cookies and take a break from the busy downtown shopping environment.

    UnionPay Cardholders can also present their UnionPay card to gain access to the exclusive VIP area, decked out with OSIM massage chairs for an even more luxurious experience. Plus, Cardholders can enjoy a special cup of gourmet “Gold Brew” coffee sprinkled with edible gold dust for the additional gold rush. With mobile charging ports available for the power-hungry and some of Singapore’s favourite brands and foods on show, there will not be a single dull moment at the “Golden Pampering Lounge”. 

    “UnionPay is delighted to be named as the Official Card for Singapore Golden Week 2016. As a brand new lifestyle event to be held over three weekends in September and October, we hope that this will light up the local retail scene, and offer new lifestyle experiences for both local and overseas UnionPay Cardholders to enjoy. And as we continue to build on the momentum to provide better products and services for consumers here in Singapore, we also hope to be able to, at the same time, bring fresh experiences, more choices and excitement to everyone,” said Mr. Wenhui Yang, General Manager of UnionPay International Southeast Asia.

    “Singapore Retailers Association is pleased to partner UnionPay again to bring consumers yet another event to look forward to and a new golden opportunity for the industry to leverage on. With a base of over 5.4 billion UnionPay Cards issued worldwide, Singapore Golden Week aims to create a new opportunity for retailers to drive spending among the overseas UnionPay Cardholders who will be here, as well as UnionPay Cardholders in Singapore. We are excited about the new business opportunities that SGW presents and the benefits that our partnership with UnionPay can potentially bring to participating merchants,” said Mr. Anthony Gan, Executive Director, Singapore Retailers Association.

    “ION Orchard is a favourite mall among locals and Chinese tourists and is the ideal location for UnionPay’s first Singapore Golden Week campaign. We are especially delighted to be the official mall that houses UnionPay’s Golden Pampering Lounge for their campaign for all redemptions. The central location along Orchard Road will certainly make shopping more convenient – and for purchases made at ION Orchard, shoppers will enjoy double chances when playing the ‘Golden Sure-Win Rewards’ game at the lounge, making it a truly rewarding shopping experience,” said Mr. Chris Chong, CEO Orchard Turn Developments.

    UnionPay International focuses on supporting the growth of UnionPay’s global payments business. With an acceptance footprint covering 160 countries and regions globally, UnionPay serves the world’s largest cardholder base by providing quality, cost-effective and secure payment services to over 5.4 billion Cardholders worldwide.

    In Singapore, UnionPay enables efficient and cost-effective payment services that are tailored to the needs of local businesses and consumers. UnionPay cards are issued by Bank of China (BOC), DBS Bank (DBS), Industrial and Commercial Bank of China (ICBC) and United Overseas Bank (UOB) in Singapore, and are accepted at over 80 percent of retail, lifestyle and food and beverage establishments locally, as well as at almost all automated teller machines (ATMs) across the island.

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