Retail News CRM

Tag: Hong Kong

  • Owndays Hong Kong to launches on The Island

    Owndays Hong Kong to launches on The Island

    Japanese eyewear brand Owndays is set to open its first two stores on Hong Kong Island within the next two months.

    The Owndays Hong Kong business is operated in partnership with Bluebell Group, whose in-house newsletter has reported a store will open at Lee Tung in Wanchai this Friday, followed by another outlet at Hysan Place in Causeway Bay in July.

    They will join seven existing stores in the territory stretching from Tsim Sha Tsui to the New Territories.

    Owndays Hong Kong launched last August. The company pioneered the widespread adoption of set pricing for frames and lenses and offers a production turnaround time – after frame selection and eye testing – of as little as 20 minutes.

    Lees ook:

    Lees ook:

  • Museum of Modern Art Hong Kong store planned to Open

    Museum of Modern Art Hong Kong store planned to Open

    New York’s Museum of Modern Art will open a Design Store in Hong Kong.

    The Museum of Modern Art Hong Kong store will open in the new K11 Musea art mall. It will be the largest in Asia following two locations in Japan.

    The 6000sqft retail store, which celebrates innovative design in products from around the world and serves as a platform for emerging artists and designers, will showcase works from leading Hong Kong artists such as Kaws and Yayoi Kusama. Every product at the store is exclusive and undergoes a series of eight criteria filters to ensure a strong fit with Moma’s vision of good design.

    K11 Group founder Adrian Cheng, who was recently named the first Council of Fashion Designers of America global ambassador, is a board member of Moma and led the introduction of the store in Hong Kong.

    The Museum of Modern Art Hong Kong store will open in August.

    Lees ook:

    Lees ook:

  • Hong Kong retail sales felt Last Month

    Hong Kong retail sales felt Last Month

    Hong Kong retail sales fell by 4.5 per cent in April, contributing to a 2 per cent decrease in year to date.

    Worse, the Census and Statistics Department said that after netting out the effect of price changes year on year, Hong Kong retail sales fell 5 per cent year on year, following a 0.8 per cent fall in March and contributing to a 2.3 per cent decline year to date.

    “The larger year-on-year decrease recorded in April reflected the still-cautious consumption sentiment amid external uncertainties, but was also partly due to the late arrival of the Labour Day holidays in the Mainland (which fell in early May this year but straddled between April and May last year), which has led to a notable deceleration in the growth rate of visitor arrivals,” a government spokesman said, commenting on the data.

    He said that in the near term, consumption sentiment will continue to be affected by various external uncertainties, though the sustained expansion in inbound tourism and the largely stable local labour market should provide support to retail sales business. In other words: it may be too soon to start panicking.

    Predictably, the jewellery, watches and luxury goods sector performed the worst, sales down 11.4 per cent in April. Apparel, the second greatest contributor to the figures, slipped by a more modest 2.2 per cent, with cosmetics down 6 per cent, department-store sales down 4.3 per cent and electrical goods by 13.7 per cent. Sales of footwear and accessories fell 5.4 per cent, furniture by 0.4 per cent; books, newspapers, stationery and gifts by 7.5 per cent; Chinese drugs and herbs by 5.7 per cent, and optical shops by 7.8 per cent.

    On the positive side, supermarket sales rose by 1.1 per cent; food, alcohol and tobacco by 0.8 per cent and fuels by 3.3 per cent.

    Lees ook:

  • Xin Dau Ji expands into Malaysia

    Xin Dau Ji expands into Malaysia

    Michelin-starred Hong Kong seafood restaurant Xin Dau Ji has opened in Ekovest’s mixed development project, EkoCheras Mall in Malaysia.

    The opening in the integrated development, which features 1 million sqft of retail space, is a significant step forward for Ekovest’s F&B division Duke Dinings.

    “We are pleased to introduce this established brand to Malaysia, which is also a first in Southeast Asia,” said Duke Dinings group director Jong Wei Wei. “As Malaysia’s F&B sector is booming, it is our intention to fill the gap in the market for affordable lifestyle-driven dining concepts and Xin Dau Ji fits well with this objective.”

    “To be recognised by the prestigious Michelin Guide is a tremendous motivation and affirmation for the entire team at Xin Dau Ji,” said the restaurant’s representative Jonathan Chou. “It is our vision to make every dining experience at Xin Dau Ji truly exceptional and memorable.”

    Xin Dau Ji has been recognised for high-quality and nostalgia dishes since it opened in 1972.

  • Big Expectations for Alibaba’s IPO in Hong Kong

    Big Expectations for Alibaba’s IPO in Hong Kong

    There is growing expectation of an Alibaba IPO in Hong Kong which could raise as much as US$20 billion.

    The plan, if it proceeds, would be the sixth-biggest follow-on share sale in history and succeed the firm’s $25 billion New York float of 2014. It is likely to fuel a renewed surge in technology investment for the firm at a time of escalating trade war between China and the US.

    Spokespeople for the company have refused to provide further information on the tentative deal, which would allow investors in Hong Kong direct access to the Chinese e-commerce behemoth for the first time.

    However, there have been widespread media reports of an Alibaba IPO in Hong Kong from reputable media, with the story originally broken by Reuters.

    Alibaba was previously precluded from a Hong Kong listing due to its rules governing board appointments, however, the Hong Kong exchange has since relaxed its regulations.

    The firm’s direct competitor Tencent Holdings currently trades at 26 times expected earnings in Hong Kong, compared to Alibaba’s New York trading at 22 times expected levels.

    Some onlookers have speculated that Alibaba is looking overseas in response to a perceived maxing out of its potential user base within the mainland.

    Alibaba is expected to apply for a listing confidentially.

    Lees ook:

    Lees ook:

  • Foodpanda kicking off delivering groceries in Hong Kong

    Foodpanda kicking off delivering groceries in Hong Kong

    Foodpanda Hong Kong is adding grocery deliveries to its services from late next month.

    The food-delivery service, pitched in a head-to-head battle with Deliveroo in Hong Kong, is finalising a collaboration with about 100 stores across Hong Kong to source products such as dry groceries, frozen meat and wine for customers ordering online or by app, promising order fulfilment within 30 minutes.

    Foodpanda Hong Kong CEO Arun Makhija said in an interview with the South China Morning Post that the company wants to offer both its customers and its 2000-strong fleet of drivers opportunities beyond delivering restaurant meals.

    Foodpanda has been in Hong Kong for five years and Makhija says the business’ growth remains “exceptional”.

    Lees ook:

    Lees ook:

  • HMV’s Heroes walk away

    HMV’s Heroes walk away

    Two prospective saviors of the HMV Hong Kong business have walked away after it became clear they would be unlikely to be allowed to use the historic brand name.

    A liquidation sale may now be held for stock stored since the retailer entered provisional liquidation last December, said to include about 70,000 DVDs, 20,000 CDS and 9000 vinyl records.

    “Two potential white knights, one a mainland company, the other a Hong Kong firm, had been very keen on rebooting the HMV business in the mainland and Hong Kong,” liquidator Wong Sun-keung, a partner at accounting firm Vision AS said.

    “There is some legal issue that the HMV licences here are considered to be ended with the liquidation. It is a shame,” he said.

    Citing the trademark issue, Wong says he will no longer be seeking a buyer for the business and will now work with the company’s creditors to find alternative ways of recovering about HK$40 million (US$5.1 million) in debts.

    A committee comprising seven representatives of the company’s 340 creditors will vote before month’s end on the next step, most likely a massive liquidation sale.

    “It may include the option of selling the stock to some music collectors. Or we may host a big liquidation sale for a few days,” Wong told the SCMP.

    “We are negotiating with a landlord for a potential location in Causeway Bay. Another possible location will be in Mong Kok.”

    While the stock, currently stored in shipping containers, has a book value of $9 million, given the discounts applicable in a liquidation sale, it may have a realisable value of less than $1 million.

  • BukaGlobal boosts its regional expansion Growth

    BukaGlobal boosts its regional expansion Growth

    Indonesian e-commerce platform BukaGlobal has launched in Singapore, Malaysia, Brunei, Hong Kong and Taiwan.

    Developed by Bukalapak, the platform will connect 4 million Indonesian sellers to the global market. At the moment, products sold on the site include health and beauty items, pantry lines and handicrafts from only qualified sellers in Jakarta and Tangerang. More sellers are set to join progressively.

    Customers in five countries can order products starting from 500gm with delivery time usually six to 11 days, depending on the destination.

    “We want to break down barriers that hinder young and small entrepreneurs from competing on a global playing field, primarily on access, infrastructure, and connectivity,” said Fajrin Rasyid, Bukalapak’s co-founder and president.

    “With BukaGlobal, Indonesian products are readily accessible by consumers anywhere in the world through a fast and reliable platform.”

    Fajrin said Bukalapak chose Singapore and the other four markets as there are many Indonesians there and the people in these countries understand Indonesian culture.

    The firm is working with Singapore startup Janio for end-to-end cross-border logistics.

    Lees ook:

  • Verizon Media unveils Hong Kong expansion plans

    Verizon Media unveils Hong Kong expansion plans

    Verizon Media has announced an aggressive expansion program for Hong Kong for the next 180 days and the year ahead, including the expansion of its Yahoo Studio in the market.

    The studio will be equipped with audio-visual production equipment for creating HD videos with virtual settings and advanced motion capture capabilities to deliver broadcaster grade production.

    The studio produces Yahoo TV live programs including celebrity talk shows and Engadget Updates.

    “The new studio can unleash video creativity, enabling us to produce more live programs, HD videos with 3D virtual settings, and e-commerce shows,” said Lorraine Cheung, head of audience at Verizon Media. Live programs include finance, tech, lifestyle, and entertainment programs.

    Cheung said the company will unveil its first virtual character this July. The virtual character will not only be a Yahoo KOL but also a co-host of Yahoo’s homegrown TV programs. “The character aims to enhance overall user experience via more fun interaction, turning media into a two-way conversation.”

    In addition, Verizon Media is bringing its new Yahoo Rewards membership program to Hong Kong. The program will allow users to earn points with their daily online engagement such as polling, following groups, e-shopping, and content consumption on Yahoo App.

    The company plans to roll out a Good Deeds Good Life campaign to the app, which will allow users to earn points by engaging in social causes that benefit the community.

    Verizon Media recently unveiled a first-of-its-kind virtual reality advertising offering for demand-side platform users, which aims to help advertisers seamlessly extend existing display and video assets into VR environments.

    “We see huge potential in AR and VR technology on improving engagement of ad and branded content. Our focus is to introduce the technology and facilitate the market adoption.” Verizon Media Hong Kong senior director for APAC ad creative technology Roger Li said.

    Verizon Media, a division of Verizon, was renamed from Oath in 2019. “The purpose of Verizon Media is to transform how people stay informed and entertained, communicate, and transact,” said Rico Chan, managing director of Verizon Media Hong Kong, Japan and INSEA. “The company’s priorities include growing our member-centric ecosystem, building brands B2B customers love and trust, as well as videofy our brands and platforms.”

    Lees ook:

    Lees ook:

  • Parkson Retail to open store above Chinese railway station

    Parkson Retail to open store above Chinese railway station

    Parkson Retail Group is preparing to occupy a complex above Nanjing Railway Station in Chinese Jiangxi.

    The group, a Hong Kong-listed firm controlled by Malaysian Parkson Holdings Bhd, won its US$6.1 million bid for the tenancy of buildings above the Bayi Guan Station of the Nanchang Rail Transit Line 1 in the city.

    The 12-year tenancy will allow a 42,903sqm retail space for the firm, although no formal agreement on the tenancy has been signed as of yet.

    A statement from the firm read: “The tenancy, if materialised, may constitute a discloseable transaction for PRGL,” given its alignment with the firm’s development strategy for the province.

    Lees ook:

  • NBTC finalizes terms of 700-MHz auction

    NBTC finalizes terms of 700-MHz auction

    Thailand’s National Broadcasting and Telecommunications Commission has finalized the proposed terms of next month’s 700-MHz auction, and has briefed the prime minister on the progress with the sale.

    The regulator plans to commence the sale of three slots of 700-MHz spectrum on June 19,.

    The three slots will each have a base price of 17.584 billion baht ($555.05 billion) for 10MHz of bandwidth, which can be payable in up to 10 installments.

    Last month the NBTC announced relief measures for the three owners of 900-MHz licenses by agreeing to split the license fees into 10 installments instead of the current four. But a condition of taking advantage of the larger number of installments will be purchasing one of the 700-MHz slots.

    According to the report, the three 900-MHz license holders – AIS, TrueMove and dtac – have expressed an interest in taking advantage of the relief measures, but are waiting on more terms of the 700-MHz allocation before making a decision.

    But True Move has previously indicated it does not plan to take part in the 700-MHz auction, although it has been pushing for an extension on its 900-MHz license payments.

    Proceeds from the sale will be used to compensate six digital TV broadcasters which have agreed to return their licenses to the regulator.

    A public hearing on the draft terms of the 700-MHz allocation will be held next week.

    Lees ook:

  • Gucci store closed after staff Measles

    Gucci store closed after staff Measles

    Gucci’s Harbour City store has been closed for disinfecting after three staff members fell ill with measles within the last week.

    A Harbour City spokeswoman told that store staff advised mall management about the infections last evening and the Canton Road store was closed early.  Gucci’s office at Ocean Centre has also been closed.

    “We are carrying out thorough disinfection and extra cleaning throughout the mall,” the spokeswoman said. “The two washrooms near the store have also been temporarily suspended for disinfection and cleaning.”

    Hong Kong health officials are on high alert as the territory has witnessed a rapid escalation in the number of measles cases reported in recent weeks. Last year, 15 people were reported to have contracted the highly infectious disease, but already this year there have been 73 cases, including 29 people working at Hong Kong International Airport.

    According to the SCMP, the first Gucci staff member, a male aged 30, became ill last Tuesday after flying to Tokyo. He is now back in Hong Kong and recovering in hospital.

    The second and third victims, both women aged 25, have since developed symptoms and are also recovering in hospital.

    The incubation period of measles lasts from seven to 21 days before symptoms are obvious.

    None of the three staff had worked at other Gucci shops and none of their family members have developed symptoms.

    Lees ook:

    Lees ook:

  • Hong Kong online retailers ‘ignoring’ Gen Z consumer needs

    Hong Kong online retailers ‘ignoring’ Gen Z consumer needs

    Hong Kong online retailers are ignoring Gen Z consumers, according to a new report on the local payments market by unified commerce platform Tofugear and financial technology firm Wirecard.

    The research found that the territory’s e-commerce sites are not catering to Gen Z consumers when it comes to the payment options they offer.

    In contrast to older millennial and Gen X consumers, credit-card ownership rates among this demographic – those born between 1997 and 2012 – are low. As a result, one in three Gen Z consumers (35 percent) prefer to make online purchases via a cash-on-delivery option.

    The Digital Payments Landscape in Hong Kong 2019 report finds that while Hong Kong online retailers such as Zalora are already catering to this trend, they are in the minority as only around 5 percent of all retailers in the territory offer a cash-on-delivery option for online purchases.

    “Retailers should ignore Gen Z at their own peril,” says Tiffany Lung, retail analyst at Tofugear.  “Much focus has been on millennials, but the consumer behaviors of Gen Z are radically different – particularly when it comes to payment preferences. They think traditional payment methods are as lame as Facebook.”

    Digital wallets such as AlipayHK are also an important means of transaction for this young demographic, with 86 percent using this payment method – typically for purchases of less than HK$500.

    “Rather than passively waiting for years to qualify for a credit card like millennials have done, Gen Z has been much more proactive,” says Lung. “They have turned to digital wallets to solve the barriers they face when it comes to in-store and online payments. I believe this habit will stay with them as they come of age.”

    Based on a survey of 1000 Hongkongers, the report compares the payment habits of Gen Z, millennial and Gen X consumers and finds that while many perceive Hong Kong to be a laggard when it comes to smart payments, there is a genuine willingness to adopt new payment methods such as digital wallets – regardless of the consumer’s age.

    “After years of complacency, the payments ecosystem in Hong Kong is finally waking up to the fact that cash might be knocked off its throne – or at least see its dominance challenged by a plethora of new payment methods,” says Lung.

    Alongside the consumer survey, key players in Hong Kong’s digital payment industry were interviewed including Google Pay, Octopus Card, TNG FinTech Group, BBPOS Merchant Services, as well as online retailers such as Zalora and SkyMart.

    Lees ook:

  • HKBN launches broadband-pay TV bundles

    HKBN launches broadband-pay TV bundles

    HKBN has launched a new range of bundled broadband and pay TV offers for both enterprise and consumer customers, in collaboration with TVB.

    Subscribers to HKBN Enterprise Solutions will be able to sign up for a 100Mbps business broadband service for prices starting at HK$588 on a 24-month contract. The service will be bundled with access to a basic myTV SUPER pay TV pack as well as a sports upgrade pack.

    Meanwhile consumer customers can subscribe to a 100Mbps service for prices starting at HK$198 or a 1000Mbps service for prices starting at HK$238, which will be bundled with the myTV Gold service, as well as a home telephone service and Wi-Fi concierge service.

    HKBN will waive initial installation fees for both the enterprise and consumer packages.

    “HKBN has been striving to disrupt the status quo in the market. After studying the toll levels of current pay TV content in the market, we strongly believe that a great deal of room still exists for customers to enjoy world-class movies, entertainment and sports events at more competitive prices,” HKBN EVP William Yeung said.

    “Today, we aim to further strengthen the dual play of superb broadband service and OTT content through the advantage myTV SUPER collaboration. HKBN will deliver a wave of offers for both the residential and enterprise market as a way to reward our customers.”

    Lees ook:

    Lees ook:

    Lees ook:

  • Customs seizes $7 million worth of fake goods

    Customs seizes $7 million worth of fake goods

    Hong Kong Customs has seized 55,000 items of fake goods destined for the US during a three-month campaign to combat cross-border counterfeiting. The haul, some of which is shown in the accompanying photograph, included trainer, apparel, mobile phones and accessories, handbags and Beats-branded headphones.

    Customs officers estimated the value of the haul to be about HK$7 million.

    “Hong Kong Customs has been working closely with the US Customs and Border Protection using intelligence exchanges, and took targeted enforcement action between January and April including stepped-up inspection of suspicious express courier parcels destined for the US,” said a Customs spokesperson.

    “Hong Kong Customs will continue working closely with overseas law enforcement agencies to combat cross-boundary counterfeiting activities through intelligence exchanges and joint enforcement actions.”

    Under the Trade Descriptions Ordinance, any person who imports or exports any goods to which a forged trademark is applied commits an offense. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.