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  • Longines Masters of Hong Kong 2019 – a recap

    Longines Masters of Hong Kong 2019 – a recap

    Three days of action brought with them a life’s worth of memories as the curtain came down on the Asian stage of the Longines Masters Paris – Hong Kong – New York intercontinental series. More than 35,000 people gathered across the three days of this year’s Longines Masters of Hong Kong.

    Fittingly, the final day was graced by Hong Kong Chief Executive Carrie Lam Cheng Yuet-ngor, who met the riders and presented the Longines Grand Prix of Hong Kong trophy. Longines Ambassador of Elegance, horse lover and entertainment super star Aaron Kwok was also on hand for the final press conference and to share his thoughts on the sport he loves so dearly – and like one of his live shows, the thrills came from start to glorious finish. The action began with The HKJC Asian Junior Grand Prix, excitement rose with the staging of the DBS Trophy, and then came the event everyone had been waiting for all week – the Longines Grand Prix of Hong Kong. And the premier event brought out the very best from Denis Lynch on Chablis as the Irish rider and his stable newcomer flew around the course. It proved a fitting way to end a fabulous week – and now it’s on to American stage in New York, which among other things will feature the rematch of the Riders Masters Cup, from 25 to 28 April 2019.

    Denis Lynch claims the Longines Grand Prix of Hong Kong!

    The glory on this final day came with the Longines Grand Prix of Hong Kong and a stunning effort from Denis Lynch on Chablis as they finished in front of Simon Delestre on Uccello de Will. But there was so much more also on offer all day.

    It began – at 9.30am – with The HKJC Asian Junior Grand Prix, an initiative from partners EEM, The Hong Kong Jockey Club and the Hong Kong Equestrian Federation that showcased the rising stars of Asian showjumping. It was Hong Kong’s Vincent Zi-Xiang Capol on It’s A Gamble who lit up the main arena on the day, capturing the title after a two-round competition with jump heights raised from 1.00m to 1.10m.

    Next – at 12pm – came the DBS Trophy, a one-round competition that set riders a simple task. On paper at least. To win you had to be the fastest from eight riders to complete a clear round – and on this day the fastest was Roger Yves Bost on Castleforbes Talitha.

    Then it was time for the ultimate event at the world’s ultimate show jumping series. The Longines Grand Prix tests the world’s best against jumps at Olympic height heights of 1.60m, and it provides a true test of technique, of skill and of bravery from both rider and horse.

    In the end it came down to a ride for the ages from Denis Lynch on Chablis, as they cleared all the fences over two rounds. Second place went to Simon Delestre on Uccello de Will – the only other pair to clear all the fences. Along with the US$400,000 in price money the Paris, Hong Kong and New York Longines Grand Prix offers something very special – a Super Grand Slam Bonus of €2,250,000 rewarding a victory in each round of the Series in the same season and a €1,000,000 additional bonus for three successive victories at The Longines Grand Prix straddling two Longines Masters seasons. Irishman Lynch will now head to New York for the next leg in April with that huge bonus in his sights.

    While the show jumping action kept fans glued to their seats all day long, there was plenty more to entertain in the main arena. Presented by MGM, equine artists Frédéric Pignon and Magali Delgado and their Iberian horses continued to leave the audience spellbound with dazzling shows combining music, dance and multi-media. Then there was the appearance of the “golden girl” of the HKJC Equestrian Team as Jacqueline Siu celebrated her history making gold medal performance at last year’s Asian Games with a dressage performance the relived the glory.

    Reflections on three days of fun and fanfare

    Over three days – and nights – the Prestige Village came alive, allowing visitors to indulge and be entertained thanks to fabulous collaborations with the Longines Masters of Hong Kong’s partners and exhibitors.

    Among the many and varied highlights were the first staging of the Asian Hobby Horse Competition and the wild after party hosted by DJ Henri PFR, while visitors were able to immerse themselves in luxury offering from a wide array of brands, while being tempted by gastronomic delights. While visitors were treated to the latest from the likes of Title Partner Longines, Kingsland, Fieldstone, Horse Pilot, Equicty, Hermès Sellier, Asia Marine, Baccarat, Lightfoot Travel, Robert Mark Safaris, KEF, La Mod and Maserati. There were also themed gifts and novelties inside the Longines Masters Boutique, one lucky guest walked away with a trip (flight and accommodation) to New York to visit the Macey & Sons Gallery and the Longines Masters of New York in April 2019, courtesy of Macey & Sons Gallery.

    Save the Children

    Dedicated to promoting equestrian sports on an international scale as well as making a difference by contributing to socially constructive causes, Longines Masters series organizers EEM this year chose to support deprived children around the globe, especially in Hong Kong and China. The Hong Kong leg of the intercontinental show jumping event joined hands with the Sole Beneficiary Charity Partner, Save the Children Hong Kong, with parts of the net proceeds generated from the charity auction lunch, various VIP Hospitality Experiences in a specific period of time and kids’ activities in Prestige Village donated to sustain these marginalized children’s ongoing education, health, protection and emergency relief programs.

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  • ViSenze AI technology helps people shop on Samsung phones

    ViSenze AI technology helps people shop on Samsung phones

    Visual commerce AI firm ViSenze has partnered with Samsung to help users easily discover and purchase products using the Shopping by Bixby Vision app on the electronics firm’s mobile devices. The partnership employs ViSenze’s automated visual-commerce technology and visual-search capabilities customised to consumers’ personalised shopping demands.

    “Consumers are exposed to countless products in their everyday lives that inspire and empower them to explore new trends,” said ViSenze CEO Oliver Tan. “Samsung is one of the first major companies to capitalise on this, recognising how essential it is to ensure the path from discovery to purchase is effortless.

    “At ViSenze, we work globally with some of the largest brands and retailers. Coupling this knowledge with our market-leading visual commerce technology, we are able to provide our partners with the insights and capabilities they need to find success with visual search and the commerce it’s driving each day.”

    According to material released by the brand, “Visual commerce solutions enable mobile shoppers to seize inspirational moments instantaneously by enabling them to find the same or visually similar products directly on their devices from top retailers such as Rakuten, Urban Outfitters and Zalora.”

    “Thanks to ViSenze, customers in this region can now take mobile shopping to new heights via Shopping by Bixby Vision, which makes shopping easier than ever, via your camera,” said head of mobile services & partnerships for Samsung Southeast Asia & Oceania Christopher Tarr.

    “From inspiration to instant gratification – it is that simple.”

  • H&M launches collection with artist Nathalie Lete

    H&M launches collection with artist Nathalie Lete

    H&M has unveiled a collaboration with Paris-based artist Nathalie Lete on a children’s clothing and accessories capsule collection. The collection, which will be available online and in selected stores worldwide from March 7, features several of Lete’s fantasy-land-inspired artworks as prints.

    The H&M collaboration is a childrenswear collection for babies and children with a wide range of t-shirts, jackets, jeans, dresses, jumpsuits, shorts and swimsuits. The colourful animal and floral prints created by artist Nathalie Lete start with paintings in acrylics by hand, which are then artfully arranged together to create an imaginative story. For this collaboration, Lete brought a tropical jungle to life with chameleons and tigers, along with her iconic representation of flowers with cats, birds and rabbits.

    “In my work, I create a fantasy land for myself,” said Lete. “A land that I want to share with other people to make them dream. It’s all about flowers, animals, birds, naivety and colors. I want to create a cocoon that brings happiness and harmony all around. The relationships between the different elements tells stories, stories that create a beautiful atmosphere. I ‘m happy to share my world through this collaboration, all around the world, together with H&M.”

    “Natalie Lete and her work is something we have admired for a long time, and we are thrilled to be collaborating with her for this kids’ collection,” said H&M kids’ division designer Jennifer Helmer.

    “The collection is playful and inviting and the pieces truly makes you feel like you’re in a botanical dream. We cannot wait to share this collection with our youngest fans.”

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  • The largest jewellery marketplace in the world opens in Hong Kong

    The largest jewellery marketplace in the world opens in Hong Kong

    Two major jewellery shows organised by the Hong Kong Trade Development Council (HKTDC) will open next week. The sixth HKTDC Hong Kong International Diamond, Gem & Pearl Show, which showcases jewellery raw materials, will take place at AsiaWorld-Expo from 26 Feb to 2 March, while the 36th HKTDC Hong Kong International Jewellery Show, which specialises in finished fine jewellery, will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) in Wan Chai from 28 Feb to 4 March.

    This year, the two shows will feature a record of more than 4,600 exhibitors from 48 countries and regions, once again forming the world’s largest jewellery marketplace.

    Jewellery exports grow 13.3% in 2018, but challenging year ahead
    HKTDC Acting Executive Director Benjamin Chau said: “Though the Sino-US trade conflict has been looming large over all sectors and industries, Hong Kong exports of fine jewellery showed healthy growth of 13.3% year on year to reach HK$57 billion in 2018. Exports to the United States, Hong Kong’s largest jewellery export market, were particularly robust, growing by 18.1%.” However, Mr Chau pointed out that the single-month figure for December showed the total value of fine jewellery exports falling 12% year on year, indicating that the impact of the Sino-US trade conflict on exports is beginning to be felt. Compounded by other unfavourable factors such as escalating geopolitical conflicts, Mr Chau reminded businesses to be ready for a potential slowdown in global economic growth in 2019.

    Buying missions organised to help address economic uncertainty

    Mr Chau added that economic uncertainties led to the total value of Hong Kong’s exports of jewellery raw materials, including pearls, gems and semi-gems, declining by 17.6% in 2018, although there was still satisfactory growth in some major markets, including Mainland China (+8%), Belgium (+19.2%) and Israel (+24.4%). “To help the industry grasp more business opportunities, the HKTDC will organise 120 buying missions, comprising more than 8,200 companies from 75 countries and regions, to visit the shows this year,” Mr Chau explained. “These companies will consist of department stores, speciality shops, chain stores and online stores, with 700 coming from the US and 5,700 companies visiting from emerging markets. This will help the industry expand into emerging markets to deal with the unstable global economy.”

    Worldwide support from industry bodies and jewellery associations

    The two shows continue to receive support from industry organisations and jewellery associations from around the world. A total of 38 pavilions, including those from Australia, Mainland China, France, Germany, Italy, Myanmar, India and the US, will set up group pavilions at the shows. Various jewellery organisations will continue to set up their own pavilions, including ACODES from Colombia, the Antwerp World Diamond Centre, International Coloured Gems Association, Israel Diamond Institute, New York Diamond Dealers Club, Tanzanite Foundation and the Gem & Jewellery Trade Association of Thailand, among others.

    The Avenue of Jewellery Creators will be set up at the Jewellery Show by the Asia Pacific Creator Association for the first time, introducing jewellery designs created by Hong Kong and mainland designers. Also new at the Jewellery Show are pavilions from Mexico and Indonesia, while groups from Donghai in Jiangsu province and Dongguan in Guangdong province will debut as exhibitors. The Diamond, Gem & Pearl Show will welcome the participation of the Australian Opal Association and the Beihai Bureau of Commerce from the mainland for the first time, broadening the show’s international outlook.

    Japan as first-time partner country to showcase rare pearls

    With support from the Japan External Trade Organisation and the Consulate-General of Japan in Hong Kong, the HKTDC is collaborating with the Japan Pearl Exporters’ Association and the Japan Pearl Promotion Society to invite Japan as this year’s partner country for the first time. A Japan Pearl Jewellery Pavilion and a Japan Pearl Pavilion will be set up at the Jewellery Show and the Diamond, Gem & Pearl Show respectively, featuring some 130 exhibitors. The two major Japanese pearl organisations will also host a media event on the first day of the Jewellery Show (28 Feb) to introduce exquisite pearl jewellery from Japan.

    Diamond, Gem & Pearl Show runs from 26 February to 2 March

    This is the sixth straight year that the HKTDC has run the two shows in parallel in separate venues. The Diamond, Gem & Pearl Show, which specialises in the raw materials used in the jewellery industry, will be held at AsiaWorld-Expo. The show is organised into different themed zones, including the Hall of Fine Diamonds, which showcases prime quality diamonds of different shapes, cuts, grades and rare colours. The Treasures of Nature zone displays various glittering precious gemstones, semi-precious gems and other natural raw materials, while the Treasures of Ocean zone houses the highest quality pearls from Tahiti, the South Seas and other pearl-producing areas around the world.

    Among the impressively large number of special exhibits on display are:

    Hong Kong company Novel Collection Ltd (Booth No: AWE 2-Q01) will feature a pear-shaped, pink-coloured 5.01-carat diamond with unique cutting valued at HK$46.8 million.

    Swiss exhibitor Theilkas GmbH (Booth No: AWE 1-A05) will present pearls from Caribbean queen conches. Characterised by a unique flame effect, pink conch pearls are one of the world’s most precious pearl types.

    Shaun Gems International (Booth No: AWE 1-A16) from the United States will display a matched pair of natural sapphires of vivid blue colour, weighing a total of 27.76 carats and valued at more than HK$3 million.

    Jewellery Show runs from 28 Feb to 4 March

    The Jewellery Show, which opens on Thursday (28 Feb), will feature a wide array of finished jewellery and exquisite craftsmanship. A total of 38 renowned jewellery brands will converge at the Hall of Fame to showcase their collections. Returning brand names include Lao Feng Xiang from the mainland, Japan’s Kuwayama and Italy’s Giorgio Visconti, while new exhibitors include Hong Kong’s Asia Star, Japan’s Kawamura, Russia’s Kabarovsky and the UK’s JT Jewellery Theatre.

    The Hall of Extraordinary will display skillfully crafted, valuable and unique jewellery pieces from some 100 companies, including:

    Hong Kong’s Jadmily Jewelery (Booth No: CEC GH-B05) will feature a jade necklace valued at HK$64 million. The oval centre stone of the necklace is a jadeite cabochon extracted from a top-tier ancient mine in Myanmar. The warm, smooth touch of elegance is illuminated with dazzling diamonds. The centre stone weighs 51.48g.

    Foo Hang Jewellery of Hong Kong (Booth No: CEC GH-D16) will showcase a diamond jewellery set worth more than HK$13 million. The centrepiece of the set is a marquise shaped diamond of 10.04 carats valued at over HK$8 million. The rare marquise cut is testament to the superb craftsmanship that makes the diamond even more dazzling.

    One of the exhibits of Hong Kong company Belford Jewellery (Booth No: CEC CH-L01) is its “Lava Collection”. One of the jewellery pieces in this collection is an orange-red Mexican fire opal that is uniquely set against a number of coloured diamonds to imitate flowing lava. The piece is valued at HK$345,000.

    Another Hong Kong company, Famous Group Ltd (Booth No: CEC GH-G05), will display a sapphire diamond set valued at over HK$10 million. The sapphire stones, with a total weight of more than 180 carats, are adorned with 128 carats of diamonds to bring out the elegance.

    The IT Solutions for Jewellery zone that debuted last year will return to help buyers boost their competitiveness by tapping into the latest technologies for use in the designing, manufacturing, quality monitoring and selling of jewellery. The new Amber Jewellery zone is introduced to address the growing market demand, while other themed zones include Antique & Vintage Jewellery Galleria, Designer Galleria, Hall of Jade Jewellery, Treasures of Craftsmanship, Hall of Time, Wedding Bijoux and World of Glamour. In the Hall 3E entrance of the Jewellery Show, supported by Chow Tai Fook Jewellery Group, the “ARTRIUM” will showcase the company’s unique collection of precious jewellery.

    Networking activities to facilitate business exchange

    A host of activities and events, including jewellery parades, networking sessions, buyer/exhibitor forums and seminars, will be held during the shows to facilitate business exchange. One key event is the cocktail reception and Jewellery Gala Dinner held on the first day of the Jewellery Show (28 Feb). The theme for the gala dinner will be “Dionysus”, after the Greek god of wine, with a menu personally prepared by Edward Voon, Executive Chef of French restaurant LE PAN. The dinner will be attended by actresses Carat Cheung and Toby Chan. The award presentation ceremony for the biennial International Jewellery Design Excellence Award − often referred to as the “Oscars of the jewellery industry” − will be held during the cocktail reception, with the “Champion of the Champions” being announced.

    During the show period, the HKTDC will stage demonstrations of jewellery craftsmanship and themed seminars to update industry players on the latest market trends, production technologies and product styles. For example, experts from the Gemological Institute of America (GIA) will conduct a seminar on “Fancy-coloured Melee Diamonds and their Identification” (26 Feb). The HKTDC will also hold a jewellery industry forum on 1 March covering topics such as the forecasting of jewellery trends, how jewellery design software will revolutionise the design of jewellery products, and insights into the impact of 4K 3D printing technologies and mobile commerce, with a representative from Tencent explaining how artificial intelligence and big data can be used to increase sales. Other seminar topics include the latest developments in the internationalisation of the Fei Cui standard (2 March), observations on sapphires from Mogok, Myanmar (3 March), and gemology studies and market analysis of Myanmar rubies (3 March). Details can be found on the show websites.

    In addition, to identify design talents for the industry and demonstrate the high calibre of Hong Kong jewellery designers to international buyers, the HKTDC has joined hands with four local jewellery industry bodies to organise the 20th Hong Kong Jewellery Design Competition. The theme of the competition this year is “Be Connected, Be United”, attracting around 200 quality entries. The finalists’ designs will be on display in the Hall 1D lobby of the HKCEC during the show period.

    To make it convenient for buyers to visit both shows, a complimentary shuttle bus service will be provided by the HKTDC between AsiaWorld-Expo and downtown (including the HKCEC in Wan Chai). Please visit the show websites for details.

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  • Foot Locker boosts capital expansion

    Foot Locker boosts capital expansion

    Foot Locker has announced a US$275 million capital expenditure program for this year, with Asia singled out as a target market. The investment is $75 million more than the US-headquartered sports-shoe and apparel retailer allowed for last year. “The capital spending planned for this year reflects increased investments in the company’s store fleet in all existing regions, including Asia, and in its digital initiatives,” the company said in a statement.

    “In addition, the company will continue to spend capital to build out its supply chain and other infrastructure capabilities.”

    Chairman and CEO Richard Johnson said Foot Locker sees “exciting opportunities” to invest in the business this year. The capital commitment followed decisions to launch a share buy-back program and to pay a dividend to shareholders.

    “Taken together, these actions demonstrate that our board is confident that Foot Locker can simultaneously deliver strong financial results, invest in the long-term growth of the business, and provide meaningful returns to our shareholders,” he said.

    Foot Locker currently operates 3221 stores in 27 countries in North America, Europe, Asia, Australia and New Zealand.

    In Singapore, Foot Locker opened three stores last year, in Jem Mall, Century Square and Suntec City.

  • Swire Properties’ community ambassadors visit Taikoo Dockyard retirees in HK

    Swire Properties’ community ambassadors visit Taikoo Dockyard retirees in HK

    Swire Properties’ Community Ambassador held a gathering with some 40 retirees of Taikoo Dockyard. It has been a tradition to organise such gatherings during Chinese New Year since 2015 to stay in touch with the old Swire staff and foster friendship across generations. Hosted by Mrs Elizabeth Kok, Director & Senior Advisor at Swire Properties, the old staff of the Swire group shared their fond memories of working in the Island East area, where the Swire group once operated the largest shipyard in Hong Kong for over a century.

    The sharing session was followed by a visit to the LEGO model of Taikoo Dockyard at Cityplaza, which reminisced about working lives in the area. While looking back to the good old days, the old staff are also amazed by the transformation of the area which is now developed into a blue-chip private housing estate and a major commercial area, against the backdrop of Hong Kong’s rapid development in the past decades.

    Many of the participants had spent their entire career life in Swire for more than 40 years. Mr Lam, aged over 90, was in charge of electric machine room of Taikoo Dockyard. Bringing along his old staff card to the gathering as a way to share his memory, he treasured the rare opportunity to gather with his former colleagues and the Community Ambassadors.

    Mrs Elizabeth Kok, Director & Senior Advisor at Swire Properties, welcomed the veterans in the gathering. She remarked that the event was so meaningful that it offered the old staff a chance to revisit their former workplace at Cityplaza.

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  • Warm weather blamed for worsening Bossini International loss

    Warm weather blamed for worsening Bossini International loss

    An unseasonably warm winter and weak consumer sentiment in core markets has been blamed for a more than doubling of losses for Bossini International in the six months to December. The casual-fashion retailer reported a 10 per cent decline in group revenue to HK$875 million (US$111.5 million) and a 5 per cent drop in same-store sales for the period. Gross profit fell 11 per cent and the loss attributable to shareholders ballooned from $12 million in the same period a year earlier to $26 million (US$3.3 million).

    Operating profit in the key Hong Kong and Macau market, where Bossini has 39 stores, improved, despite a 5 per cent decline in same-store sales.

    In Singapore, sales plummeted 23 per cent due to store closures. Same-store sales there fell by 6 per cent, in Taiwan by 7 per cent and in Mainland China by 3 per cent. Group-wide same-store sales fell by 5 per cent, worse than the 2 per cent of the December 2017 half.

    As at the end of last year, Bossini International had a total net retail floor area for directly managed stores of 362,000sqft, about 4000sqft less than a year earlier, across 295 stores, (11 more than a year earlier). It opened 114 franchised stores in markets outside Hong Kong and Macau, taking the total franchised network to 768.

    Hong Kong challenge

    Bossini chairman Man Kuen Bess Tsin said the significant decline in retail sales growth in Hong Kong since July and the negative impact of the devaluation of the Renminbi had impacted on the company’s sales in its home market, which accounts for 66 per cent of group revenue.

    “The Hong Kong retail market presented a cautious optimism if not a mixed picture. Strong inbound tourism, especially from Mainland China, was recorded in Hong Kong. Nevertheless, the consumption per capita started to drop in the third quarter, despite the annually increasing numbers of tourist arrivals in Hong Kong.”

    The group’s total net retail floor area in Hong Kong and Macau reduced from 125,800sqft to 121,600sqft, a decrease of 3 per cent, while sales per square foot slipped 5 per cent to $7200 (from $7600). Operating profit in Hong Kong and Macau was $17 million, up from $12 million for an operating margin of 3 per cent (compared with 2 per cent a year earlier).

    Mainland China revenue decreased 2 per cent.

    Bossini Singapore posted an operating loss of 5 million, 20 per cent more than the comparable period and the operating margin was negative 9 per cent.

    Cautious outlook

    Tsin said Bossini International management is “cautiously optimistic” about the year ahead.

    “However, in face of the complex and volatile global economy and geopolitics, the outlook is full of uncertainties. As an open economy, Hong Kong is particularly vulnerable to the impact of the global situation. At the same time, the local economy and consumption structure are also gradually changing.

    Challenges and opportunities coexist. The group is fundamentally strong with a healthy financial position, which is capable of facing the potential challenges.”

    Tsin said the export franchising business is a main focus of the group.

    “We will further expand and optimise the distribution network, leveraging the economy of scale in market reach and profitability.”

    The company will focus on introducing more new products and designs, with a focus on functionality at the core of its product strategy. Alongside the young adult segment, the company will develop more childrenswear lines to broaden its customer base and it will strengthen supply chain management to improve operational efficiencies.

  • L’Oréal, KÉRASTASE open their flagship store in Hong Kong

    L’Oréal, KÉRASTASE open their flagship store in Hong Kong

    Hong Kong’s stylish hotspot Fashion Walk proudly announces the arrival of SkinCeuticals and KÉRASTASE – two of L’Oréal Hong Kong’s leading beauty brands, introducing a unique all-in-one beauty ritual that tends to your retail, cosmetic and haircare needs. With SkinCeuticals’ global first one-stop skincare flagship store and KÉRASTASE’s haircare concept store, Fashion Walk launches the beauty hub – a cosmetics mecca that is set to transform fashionistas’ beauty experience.

    Ms. Bella Chhoa, Director of Leasing & Management of Hang Lung Properties, describes the addition of SkinCeuticals and KÉRASTASE as the birth of a “Beauty Revolution”.

    “It is a real pleasure to have SkinCeuticals and KÉRASTASE – the two top beauty brands of L’Oréal Hong Kong – join us in Fashion Walk. Causeway Bay is a magnet for trendsetters, yet we all know how scarce retail spaces are right here. At its prime location in the area, Fashion Walk is obviously the hub of international fashion labels. Last year, we extended our partnerships with a number of cosmetics brands. This year, we’ll keep up with the strategic effort. Our brand new beauty hub promises to bring an unprecedented beauty experience to all stylish minds in town.”

    Ms. Eva Yu, President & Managing Director of L’Oréal Hong Kong, also envisions a new chapter in the cosmetics industry prompted by SkinCeuticals’ one-stop skincare flagship store and KÉRASTASE’s haircare concept store at beauty hub.

    “L’Oréal Hong Kong endlessly looks for retail spaces of development potential. The two stores in Fashion Walk feature an exclusive studio for customers to try out every stroke, swipe and dab, which guarantees a one-of-a-kind experience. We’ll put down a remodeling budget of almost ten million dollars to ensure that our customers will revel in the brand new stores.”

    Located in the heart of Causeway Bay, Fashion Walk boasts an occupancy rate of over 95%, housing the flagship stores and concept stores of an impressive array of international chic labels, including the two beauty trailblazers.

    Founded in the USA, SkinCeuticals is guided by its unparalleled Integrated Skincare philosophy that aims to promote and improve skin health. Its first-ever flagship store in Fashion Walk also pledges to provide customers with a range of skin health restoration plans that combine the most trusted dermatological innovations and cosmetological aids.

    French hair and scalp care expert KÉRASTASE has earned its recognition in the field thanks to its commitment to hair care since its founding in 1964. Its concept store in Fashion Walk not only offers a wide selection of cutting-edge products, but also an original mode of retail with hair treatment services in a soothing environment. The professional guidance of KÉRASTASE haircare consultants and bespoke treatments will surely satisfy customers’ desire for exceptional hair.

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  • No more loss for Hong Kong’s Cathay

    No more loss for Hong Kong’s Cathay

    Hong Kong flag carrier Cathay Pacific said on Wednesday it is expected to have swung back to profit in 2018, ending two successive losses as it embarks on a massive overhaul. The recovery also came in a year that saw it suffer an embarrassing data breach that dented its reputation and could could prove costly. The airline said it expects to record a consolidated profit of around US$293 million (RM 1.2 billion) for 2018, compared with US$160 million (RM651 million) losses the year before, according to a preliminary profit alert.

    The company’s share price jumped more than seven percent after the announcement as investors took comfort in the turnaround after two grim years for Asia’s largest carrier.

    “In 2018, the passenger business benefited from capacity growth, a focus on customer service and improved revenue management,“ the company said in a statement, adding its cargo sector was also “strong”.

    Cathay has been overhauling its business after posting its first losses in eight years in 2016, firing more than 600 workers and paring overseas offices and crew stations as it faced stiff competition from budget rivals on the mainland.

    It also added international routes and better services on board its flights in a bid to compete with well-heeled Middle Eastern long-distance carriers.

    The profit alert suggests those moves have paid off.

    The airline narrowed its losses to US$33.5 million for the first half of 2018 – a tenth of what their losses were for the same period in 2017. But the second half of the year appears to have brought Cathay squarely back into the black.

    Dickie Wong, an analyst with Kingston Securities, said Cathay is expected to further benefit from the end this year of costly fuel-hedging contracts.

    “I would say the unfavorable impact to Cathay would continue to reduce,“ he said.

    Wong said the introduction of premium economy had attracted new customers while ticket discounts helped it compete against budget carriers. But he said the company still had “much room to improve in their luxury classes” if it wants to take on Middle Eastern rivals.

    Cathay will announce its full-year result next month.

    But the year was not without trouble.

    In October it sparked outrage when it admitted to a massive breach five months after hackers made off with the data of 9.4 million customers, including some passport numbers and credit card details.

    The airline faces potentially steep payouts in Europe, which boasts strong protection laws and financial penalties for companies that do not swiftly own up to data breaches.

    British-based law firm SPG Law has already launched a group action against the carrier over the breach to help customers seek compensation.

    This year Cathay’s website mistakenly offered first and business class flights for a fraction of their value in two high-profile and costly blunders.

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  • HSBC pre-tax profit up 16% at US$19.9 bn in 2018

    HSBC pre-tax profit up 16% at US$19.9 bn in 2018

    Banking giant HSBC said on Tuesday that pre-tax profit rose 16% to US$19.9 billion last year with growth across its global businesses despite a “challenging external environment in the fourth quarter”. The results capped the first full year at the helm of the Asia-focused bank for chief executive officer John Flint, who has vowed growth while keeping a lid on costs as trade tensions between the United States and China rumble.

    However, earnings in the last three months of 2018 came in below expectations as Washington’s trade war began to bite globally and hammered the stock markets, especially in Hong Kong and China.

    Adjusted pretax profit fell one percent to US$3.39 billion in October-December, missing the US$4.4 billion consensus average by Bloomberg Newsderived from estimates compiled by the bank.

    Global markets adjusted revenue was down US$202 million to US$1.1 billion over the same period, while wealth management dropped 18%, also to US$1.1 billion.

    Overall the year saw strong growth for HSBC with net profit ballooning 30%to US$12.6 billion while adjusted pre-tax profit rose three percent to US$21.7 billion.

    The bank had to lay off tens of thousands of staff as part of a wide-ranging overhaul that also saw it sell its Brazil operations in 2015.

    But it showed a healthy doubling of profits by 2017, a year that also saw it nominate Mark Tucker as chairman, breaking a longstanding tradition of appointing insiders to the post.

    In a statement attached to Tuesday’s earnings, Tucker and Flint said the bank was prepared to weather fallout from both a possible deterioration in the trade talks between Washington and Beijing and Britain’s impending departure from the EU.

    “The fundamentals for growth in Asia remain strong in spite of a softer regional economic outlook,“ Tucker said in a statement attached to the annual report.

    “The system of global trade remains subject to political pressure, and differences between China and the US will likely continue to inform sentiment in 2019,“ he added.

    With Brexit looming, HSBC followed the other major British financial giants in ring-fencing its UK bank.

    “We continue to prepare for the UK’s departure from the EU” Flint said, adding its operations in France “gives us a major advantage in this regard”

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  • eat darling eat opens in Hong Kong

    eat darling eat opens in Hong Kong

    This February, foodies in Hong Kong will salivate over scrumptious treats and desserts at eat darling eat, the new Causeway bay eatery that is bringing a playful twist on iconic Chinese desserts to spread love and evoke warm childhood memories.

    The 1,300 ft design-centric space is bold, surreal and out of the ordinary, sharing an array of lip-smacking treats with an eclectic twist. Situated in Fashion Walk, eat darling eat is the latest addition under Ming Fat House. The dessert spot is further enhanced by the interior design, with large playful stickers on the walls, and creative food photographs that make visitors do a double take. At eat darling eat, all delicious culinary creations are all about stimulating the senses, each of them made with utmost care and loving attention.

    eat darling eat’s extensive menu features iconic Hong Kong desserts such as the homemade fluffy Pineapple Buns (HK$38) that are quintessential to the city, filled with pineapple custard. Chinese “tong sui” desserts get a modern reinterpretation with such intriguing combinations such as double-boiled Papaya (HK$68) with snow fungus, candied papaya and mascarpone cheese. Sweet Potato (HK$68), a sweet potato soup playfully pairs with a luscious chocolate cake and taro ice cream; and Red Bean (HK$68), mixed with tangerine peel soup with a scoop of matcha ice cream.

    Other signature creations are home-made icy treats that have a modern flavour. Set to become a favourite is the Double-strength Milk (HK$48), that features two scoops of the milk flavoured ice cream that are infused with Chinese rice wine. Sichuan Pepper (HK$48), with scoops of the ice cream that bring out the spicy taste of Sichuan peppercorns and complemented with the sweetness from candied bacon.

    The icy treat that is sure to be popular amongst the fans is the Chinese Ginger Vinegar (HK$48), creatively topped with crispy pork skin. Inspired by a traditional Cantonese dish that is typically shared by new mothers to celebrate the arrival of a newborn baby, this trail blazing creation promises a spoonful to remember.

    Other delectable desserts include the Lava Cake (HK$78), featuring a decadent Valrhona dark chocolate filled cake with the earthy taste of walnut soup, and Matcha Cake (HK$58), a sweet caramel sponge cake topped with caramelised banana, and finished with scoops of matcha ice cream.

    “At eat darling eat, we strive to bring the element of traditional Hong Kong desserts that not only touch the heart, but also add a modern twist that will create new memories for our customers,” explained Jonathan Bui, owner of eat darling eat.

    The creative talent behind these quirky and tasty desserts is Executive Chef Jason Luk who tucked international experiences under his sleeve having worked in Bangkok, Shanghai and Miami. In Hong Kong he has honed his skilled at The Drawing Room and Zuma Hong Kong and brings a limitless array of culinary ideas at eat darling eat.

    “While living abroad, I learned a lot about desserts in other places, but at the same time I missed eating food from home. Since coming back to Hong Kong, I want to share the recipes from my experiences and present them to foodies in Causeway Way, which is the perfect place to showcase new and exciting trends and styles,” says Jason.

    eat darling eat offers guests a respite from busy Causeway Bay with its whimsical interiors that mirror the eclectic menu. The design draws inspiration from the experimental Post-modern era, incorporating designs, shapes and colours that challenge convention.

    The interior highlights split-level architecture, where the lower level entrance area is an open concept, while the upper space is framed as a theatre featuring fluorescent colours and reflective surfaces. The overall design is bold, surreal and out of the ordinary, emphasizing the creativity of the desserts.

    While eat darling eat offers mainly fun and playful desserts, it also offers savoury dishes for lunch and dinner that can be chosen from the a la carte menu and signature lunch menu alongside an extensive coffee, tea and cocktail menu. eat darling eat invites diners to take a break, slow down, and savour the moment in the midst of the hustle and bustle of Causeway Bay.

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  • How much do Hongkongers spend on Valentine’s Day?

    How much do Hongkongers spend on Valentine’s Day?

    If you were in Hong Kong for Valentine’s Day you must have seen cascades of flowers around the city, couples flooding the restaurants, and inevitably thought: “love is definitely in the air”. You were actually right. Hong Kong is one of the top Asian markets for sentimental spending according to the Mastercard Love Index, showing continued growth since 2016 and some intriguing behavioural insights.

    Now, whether you think of it as the most romantic day of the year or a sickening slog, it’s undeniable that Valentine’s Day is a big deal for people splurging on their loved ones, and in Hong Kong even more so. The Mastercard Love Index has gathered data from credit, debit, and prepaid card transactions from the last three Valentine’s Day holiday periods(11th-14th February 2016-18) to discover the change in how fluffy feelings have translated into cold hard cash.

    The results show that since 2016, Hong Kong ranks third in growth for sentimental spending at 62%. China takes the top spot at 88% followed by Japan at 68%, which had a 35% surge. Overall across Asia-Pacific, sentimental spending has jumped up 33% with Valentine’s Day period transactions rising by 37% since 26%

    What was the biggest increase seen? Flowers of course. Since 2016 spend value on the holiday staple has gone up by 89% with 73% more transactions. In comparison, Hong Kong transactions for the pretty petals went up by 46% with total spend rocketing up by 93%.

    Here are some other interesting insights about Hongkongers from the research:

    Hongkongers aren’t early Valentine’s shoppers. Last minute buys for gifts are the norm with the 28% majority of sales happening on the day itself.

    Restaurant dates are still a growing favourite and getting flashier. Transactions in restaurants have grown by 20% since 2016 with the amount spent at meals up by 30%.

    More romantically, there has been a huge increase in couples popping away for romantic trips for Valentine’s Day. Transportation transactions showed a 205% increase in 2018, making up a significant 23% of the total spend for the day.

    Hotel rendezvous are also on the rise with 63% growth in transactions since 2016 and a boost to the total spend by 66%.

    Bling is still in. Jewellery transactions for Valentine’s Day have climbed with spend up 43% since 2016.

    Hongkongers like the personal touch when it comes to gifts for Valentine’s Day. 88% of gifts were bought in face-to-face transactions versus 6% online. However, online shopping for Valentine’s Day is still rising with a 146% increase in online transactions over the period since 2016.

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  • Deliveroo celebrates the Chinese New Year with elderly people

    Deliveroo celebrates the Chinese New Year with elderly people

    To give back to the Hong Kong community in celebration of the Lunar New Year, Deliveroo collaborated with St. James’ Settlement and restaurant partner LAO ER by Crystal Jade to host a special afternoon event yesterday for elderly people living alone. There are increasing numbers of stay-alone seniors in Hong Kong, who don’t always have the opportunity to enjoy multi-generational gatherings at the New Year.

    Around 50 elderly people joined yesterday’s event on Monday 11 February, which was held at the Central and Western District Elderly Community Centre in Sheung Wan.

    A hot, delicious, free Chinese meal from LAO ER by Crystal Jade was served for everyone to enjoy together. The meal was prepared at Deliveroo’s first Food Market in Sai Ying Pun and delivered hot and fresh to the Centre by two Deliveroo riders.

    Deliveroo is also making a donation of HK$2,000 to the Central and Western District Elderly Community Centre of St. James’ Settlement, to help fund the gifts of the day and make the elderly delighted.

    Brian Lo, General Manager of Deliveroo Hong Kong, said, “With more and more of Hong Kong’s elderly population living on their own, we are proud to support community initiatives bringing happiness and togetherness to stay-alone seniors. Yesterday’s event was a fantastic chance for the elderly to bond with others over a delicious meal, in celebration of the Lunar New Year. The delectable festive Chinese party foods served in the event like fried noodles, dumplings and garlic-tossed cucumber represents just a small selection of the wide range of cuisine available from Deliveroo. Moving forward, Deliveroo remains dedicated to finding even more new and creative ways to give back to all kinds of people in Hong Kong.”

    The event fell on the seventh day of the first Lunar Month, also known as “Renri”. This is an occasion traditionally celebrated in Chinese culture as the birthday of all humans. On this day, it’s customary for people to gather together, show gratitude and ask for blessings.

    Alison Yung, Senior Manager (Continuing Care) of St. James’ Settlement, added, “Serving Hong Kong for 70 years, St. James’ Settlement has observed the rising number of elderly-only households. Having a reunion lunch on Renri is a beloved Chinese New Year tradition, and we have been delighted to work hand-in-hand with Deliveroo to provide a joyful afternoon meal for everyone to celebrate together. In the future, we look forward to more opportunities for fruitful collaboration with community actors like Deliveroo.”

    An active promoter of social responsibility, Deliveroo is committed to progressive initiatives that benefit employees, customers and the Hong Kong community at large.

    In December, for example, Deliveroo offered 100 free meals to domestic workers staying in Hong Kong over the holidays, in recognition of their valuable role for families.

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  • Japanese megastore Don Quijote to open its first Hong Kong store

    Japanese megastore Don Quijote to open its first Hong Kong store

    Don Quijote Hong Kong is set to make its debut in the middle of this year. The Japanese discount merchandise retailer – which has three stores in Singapore and also plans to make its Thai debut in Bangkok this year – has leased a 15,000sqft space in the basement of Mira Place Two on Nathan Road in Tsim Sha Tsui.

    In Japan, most of the company’s 160 discount stores trade 24 hours, but this is unlikely in Hong Kong.

    Helen Mak, senior director and head of retail services at Knight Frank said the basement location would appeal to local consumers and tourists.

    “Don Quijote’s Tsim Sha Tsui location can attract mainland tourists who travel via the high-speed rail and mega bridge. Instead of shopping for luxury items, these same-day visitors usually spend money on cosmetics, health care items and food, products that are most celebrated at [Don Quijote].”

    According to the SCMP, Don Quijote will pay HK$1 million (US$127,000) a month for the space, with the fitout expected to be complete by July.

    Besides its general merchandise and fresh food offer, the Don Quijote Hong Kong store will feature a cafe.

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  • Asia-Pacific shoppers favour cross-border shopping

    Asia-Pacific shoppers favour cross-border shopping

    Half of online shoppers in Asia-Pacific make purchases cross-border, according to a recent report by yStats. The top two markets for cross-border shopping in the region are Hong Kong and Singapore while Japan shuns the trend, with over nine in 10 online shoppers buying only domestically. The tendency to buy from foreign online sellers also prevails in Australia and New Zealand, where a double-digit share of digital spending is cross-border.

    The top three destinations of cross-border online shoppers in Asia-Pacific are China, the US and Japan. Chinese online shoppers themselves prefer shopping platforms hosted by local providers, such as Tmall Global, Kaola and JD Global.

    Apparel and accessories was the most-in-demand product category. In South Korea, this sector accounted for more than one-third of e-commerce purchases from foreign sellers.

    Handheld connections prefered

    A standout characteristic of cross-border shopping in Asia-Pacific is the high level of mobile usage.

    Digital buyers in China and India were more likely to place orders on foreign websites through smartphones and tablets than through a desktop computer.

    The Asia-Pacific Cross-Border B2C E-Commerce 2018 report covers online retail imports and exports in 10 nations within Asia Pacific.

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