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Tag: india

  • IKEA signs MoU to open store in Noida; create 8,000 jobs

    IKEA signs MoU to open store in Noida; create 8,000 jobs

    Swedish furniture giant, IKEA, has signed MoU with the Uttar Pradesh government for the investment of Rs 5,000 crore to set up an integrated commercial project, including a store, in Noida. The MoU was signed between R K Singh, Principal Secretary, Infrastructure and Industrial Development Department, and David McCausland, Country Property Manager, IKEA.

    An integrated commercial project will be set up by Ikea at Noida, Gautam Budh Nagar. After the establishment, approximately 4,000 direct and 4,000 indirect employment opportunities will be created by this project.

    IKEA said the first store in the state is expected to come up in Noida for which the Swedish company has not yet signed any land deal.

    “The state government will provide all possible help to such investors,” the Uttar Pradesh government said in a statement on Wednesday.

    IKEA had, on September 24, 2015, signed an MoU with the UP government during the previous Akhilesh Yadav regime for launching three stores in Lucknow, Agra and Noida. The deal, however, did not move forward.

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  • Berluti showcases its signature styles in Mumbai

    Berluti showcases its signature styles in Mumbai

    One of the world’s most iconic luxury footwear brands, Berluti, hosted an exclusive evening to showcase new styles to guests and present their signature technique of footwear tattoo artistry by Elena Lodiat Soho House, Juhu. Firmly grounded in bespoke know-how, Berluti took its technical skills and creative flair a notch higher by transforming the rules of style with tattooing.

    The rare tattoo designs based on four themes: a classic bestiary of Insects & Animals, the signs of the Zodiac and the Chinese horoscope, vintage designs with Eagles, and the subtle art of Calligraphy can now be perfected on Berluti’s original and globally renowned Venezia leather. The noblest of all leathers, only Venezia leather sustains the creative audacity of Olga Berluti’s vision of art.

    The design is crafted to meet the modern-day sensibilities of contemporary dandy men. Fire-breathing dragons, fantastic beasts, regal eagles, all the mythical creatures and several other esoteric designs can now be realized on the emblematic Berluti Venezia leather from shoes and handbags to belts and other small leather goods.

    With this exclusive service, Berluti brings an even more bespoke look to an already-unique shoe.

    Talking about the event, the only female shoemaker in the world Olga Berluti said, ‘’I always wanted to grace leather shoes with the markings of the skin; scars, gashes, branding, piercings. We have already mastered the color technique on the leather from bronze and brown to red and copper, and the dark blue of the Tuaregs. Only one thing was missing, the most obvious and most difficult: tattoos. I tried to tattoo shoes using every possible process, but the designs faded, the colors were lost beneath the patinas, and the tattoos had no “life” in them. However, my technique has evolved over the years and today I am using the exact same methods as tattoo artists, along with inks that work well with leather. I hope Berluti loyalists from across the world admire this new art.”

    An exclusive Indian distribution partner of iconic global brands Bequest Group, Managing Director, Gaganmeet Singh said, “Luxury is all about a bespoke experience and personalization and creating tattoos on leather is an artisanal process. We are glad to have showcased this unique technique of tattooing on the Berluti Venezia leather to our patrons in India. The activity was insightful and interactive at the same time that gave a chance to the luxury connoisseurs to get involved in the nuances of tattoo making on leather at this unique Berluti event.”

    Berluti currently has a store in New Delhi at DLF Emporio Mall and is scouting for a property in Mumbai to open its store.

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  • India rice rates hit more than three-month high, Chinese rules weigh on Vietnam

    India rice rates hit more than three-month high, Chinese rules weigh on Vietnam

    Rice export prices in India rose to their highest in more than three months as a key producing region hiked procurement rates for domestic paddy. Top exporter India’s 5 percent broken parboiled variety was quoted at $375-$382 per tonne this week, the highest since Sept. 7.

    The central state of Chhattisgarh, a leading rice producer, raised the minimum paddy buying price to 2,500 rupees per 100 kg, from 1,750 rupees earlier this week.

    “Importers are not ready to pay a higher price. Exports are likely to slow down in coming months,” said an exporter based at Kakinada, in the southern state of Andhra Pradesh.

    Prices of Vietnam’s 5 percent broken rice declined for the fifth straight week to $385 a tonne as activity remained muted, traders said.

    “Prices fell further because we are concerned that China’s move to impose stricter conditions on Vietnamese rice will have a long-term impact,” a trader based in Ho Chi Minh City said.

    “It’s not clear if China is buying more from Cambodia and Myanmar to compensate for the possible declining shipments from Vietnam.”

    Another trader said supplies from Vietnam will increase from late next month when the winter-spring harvest begins.

    In Thailand, benchmark 5 percent broken rice prices were quoted at $390-$391 per tonne, free on board Bangkok, versus $385-$393 a week ago, as the market is expected to remain quiet until well after the New Year period.

    “This is a reasonable level as we’re nearing the end of the year. There is not much overseas activity and we’re also in the harvesting season,” a Bangkok-based trader said.

    Meanwhile, Bangladesh, which emerged as a major importer of rice in 2017 due to stock depletion following floods, has stepped up efforts to procure more rice locally after output of the staple grain improved, a food ministry official said.

    “The response from farmers is very good and the procurement drive will be continued,” the official said.

    The country’s production for 2018/19 is expected to recover to 34.7 million tonnes, up 6.3 percent year-on-year, according to estimates from the U.S. Department of Agriculture attaché in Bangladesh.

    The South Asian country has procured more than 1.3 million tonnes of rice locally so far in the current season to build state reserves.

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  • American Eagle Outfitters India to open 25 outlets in three years

    American Eagle Outfitters India to open 25 outlets in three years

    US-based mid-to-premium denim wear brand, American Eagle Outfitters entered India in the summer of 2018 through a licensing agreement with Aditya Birla Fashion and Retail Ltd. The brand expects India will be its top three international markets in the next five years.

    In an interview with IMAGES Retail, Guillermo La Rosa, Vice-President, International and Business Development, American Eagle Outfitters says, “Our brand has been in India for the past few months and it has been performing well. We are learning a lot about the Indian consumer as we plan to expand within the market and as we will get these learnings under our belt, it will help us grow and offer the right products to consumers.”

    Target Customers

    American Eagle Outfitters is a leading global specialty retailer offering high-quality, on-trend clothing, accessories and personal care products at affordable prices.

    The brand is betting big on Generation Z, who are between the age group of 15-25-year-old.

    “India’s rapidly developing and vibrant economy, anchored by the world’s largest youth population, provides an exciting growth opportunity for our brands and expanding our global reach,” says La Rosa.

    Category Mix

    The category mix of American Eagle Outfitters comprises of jeans, shorts, joggers, t-shirts, tops, woven shirts, sweatshirts, jackets and hoodies along with accessories like shoes, socks and belts.

    Elaborating on this, La Rosa says, “The breadth of our assortment is global; however, the category mix varies from location to location. For example, in DLF Promenade, the penetration is around 60 percent men and 40 percent women products whereas in Mall of India, it is 50-50.”

    In the Indian market, Denim is the Number 1 category for both men and women followed by other categories like woven shirts, polo shirts, fleece and sweaters.

    “In India, there have been a lot of learnings for us, like in the women’s category, the customer prefers more of bootcut whereas outside India it is more about skinny and super skinny. Skinny and super skinny is little bit slower than what we had anticipated. Similarly, in the men’s category, slim and skinny are very important globally whereas here in India it is more of slim and straight denim. It seems like here in India the customer wants more clean-cut denims. We will continue with what the consumer wants as we grow,” he adds.

    Decoding the Store

    The average size of the American Eagle Outfitters’ store spans across 2,500-3,500 sq. ft. in India.

    According to La Rosa, the store size of the brand in India is smaller as compared to that in the US. “In the US the store size ranges from 4,500 sq. ft. to 10,000 sq. ft.,” he says.

    Despite the smaller spaces, the brand is hoping to launch more stores in more cities soon. Apart from this, the brand will also launch bigger flagship outlets.

    “We are looking forward to opening more flagship stores in key cities like Delhi, Mumbai and Bengaluru and these stores will be bigger than the average store. In addition to this, after the launch of Aerie in India, we expect to have bigger stores,” he adds.

    Aerie is a lingerie retailer and intimate apparel sub-brand owned by American Eagle Outfitters. In the US, Aerie targets the 15- to 25-year-old female demographic.

    Expansion Plans

    At present, the brand has three operational stores spread across Delhi-NCR and Chandigarh. Apart from this, it is available through its own website and also on fashion portal Myntra.

    “By this year-end, we are looking to open six to nine more outlets. In the next three years, we are looking at a total of 25 locations. For some of the new stores, we have got locations in Hyderabad, Chennai, Pune, Mumbai, Delhi and we are also exploring other options,” La Rosa reveals.

    “We are not here to be in every single mall and exploit the brand. We want to be very meticulous and calculative in the partnerships that we have with malls. We will be launching the Mumbai outlet in the upcoming months,” he adds.

    The brand may also look at having a presence through multi-brand stores and in Tier II markets in the future. It will also open Aerie stores across India in partnership with the Aditya Birla Group.

    “We believe that in the next five years India could emerge as the top three markets outside the US,” La Rosa asserts.

    American Eagle Outfitters merchandise also is available at more than 190 international locations operated by licensees in 24 countries.

  • Google launches ‘Shopping’ in India to woo online shoppers

    Google launches ‘Shopping’ in India to woo online shoppers

    Tech giant Google Thursday unveiled ‘Google Shopping’ in India that will allow users to easily filter through offers, review prices from multiple retailers and find products that they are looking for. According to a report: The personalised experience will be available across various Google products — a Shopping home page, Shopping tab on Google Search and through Google Lens. Customers will be able to see trending products across different categories, various deals, and compare prices using the new offering.

    For retailers, the company will offer its ‘Merchant Center’ in Hindi, which will allow the sellers to list their products for Google Shopping, without paying for ad campaigns.

    “India has over 400 million internet users. However, only one-third of these have shopped online and that number includes those buying railway tickets online. From seasoned desktop shoppers to first-time users with entry-level smartphones, we hope this new shopping experience will make finding what people are looking for just a little bit easier,” Surojit Chatterjee, Vice President – Product Management, Google said.

    Google Shopping will be a connector between retailers and consumers, and the transaction and delivery of products will be handled by the merchant, he added.

    “There are an estimated 58 million small and medium businesses (SMBs) in India, of which 35 per cent are engaged in retail trade. However, a very small number of them have an online presence, this is a huge opportunity for retailers to surface their merchandise to the millions of online consumers,” Chatterjee said.

    Google aims to support the entire retail ecosystem — from shopping sites and large retailers to small local shops — by giving them access to the tools, technology, and scale to thrive in the new digital economy, he added.

    Chatterjee said merchants will not have to pay any fee for listing their products for Google Shopping.

    Under the Shopping tab in Google Search, users can search for products and see prices from across multiple retailers. The ‘Style Search’ option in Google Lens will allow users to find products such as clothes, furniture, and home decor, by simply pointing the Lens app from their smartphones.

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  • After Flipkart, Walmart eyes another Indian startup that specialises in AI

    After Flipkart, Walmart eyes another Indian startup that specialises in AI

    Walmart Labs India, the local product development division of US retail giant Walmart, last week announced it would hire key tech team from Artificial Intelligence (AI) and data analytics start-up Int.ai — its second acqui-hiring in the country within three months.

    Three engineers — including co-founders Vinay Kumar NP and Praneeth Doguparthy — from Int.ai will join Walmart Labs India.

    They will be part of the health and wellness portfolio under Customer Technology at Walmart Labs, the company said in a statement.

    “We are glad to welcome the Int.ai team to the big Walmart Labs family and believe that their expertise will be a great addition to our data analytics capabilities,” said Hari Vasudev, Country Head and Vice President – Technology, Walmart Labs India.

    This is the second acqui-hiring Walmart Labs India has made — after micro-app startup Appsfly in September where it merged Appsfly’s six-member team into its customer experience engineering group.

    Founded in 2016, Int.ai has invested and built expertise in architecting an analytics automation framework which will support Walmart Labs in developing solutions and supporting large-scale businesses.

    “After working for almost 3 years on it, we are very happy to let you know that our entire team will be joining Walmart Labs, India,” Vinay and Praneeth said in a separate statement.

    “We started Int.ai in the beginning of 2016 with an ambitious mission to build an AI-powered personal data analyst for every business executive,” they added.

    Int.ai developed expertise in blending Machine Learning with data analytics to uncover insights that significantly impact business metrics.

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  • South African restaurant chain Barcelos to add 12 restaurants in India by FY’20

    South African restaurant chain Barcelos to add 12 restaurants in India by FY’20

    South African restaurant chain Barcelos is looking to add 12 more to its kitty in India by the end of 2019-20 as part of an expansion plan, a senior company official said. The company has one restaurant each in Delhi, Lucknow, Kolkata, Jaipur, Hyderabad, Chennai and two in Mumbai.

    “We plan to add 12 more restaurants across the country by the end of next fiscal year,” Rohit Malhotra, Business Head India, Barcelos said.

    According to a report: The new restaurants would be in Bengaluru, Pune, Goa, Chandigarh, Kochi, Puducherry, Mumbai, among others, he added. The company is also planning to rename all its big restaurants (area of 1,500 square feet or above) by March next year, Malhotra said.

    Barcelos is also looking to open between 10 to 12 smaller outlets in food courts in the country. Such outlets will have area between 300-500 square feet, he added.

    When asked about the business model Barcelos follows in India, Malhotra said: “All the outlets are franchise owned. Barcelos works through franchise model in India.”

    Regarding investments to expand Barcelos’ presence in the country, he said it will be mainly on research and development for menus, supply chain, marketing and training.

    Barcelos started operations in 1993 in Pretoria in South Africa. The company is present in 22 countries, Malhotra said.

  • ShoppRe online portal targets Indians living abroad

    ShoppRe online portal targets Indians living abroad

    International shipping and consolidation company ShoppRe.com is setting up in Dubai with a series of marketing campaigns. The shopping portal optimises cross-border e-commerce from India, acting as a bridge between people living abroad and Indian shopping sites such as Flipkart and Myntra.

    According to the site’s founders, most Indian sellers do not offer international shipping and several Indian websites do not accept international card payments.

    ShoppRe’s brand ambassadors, actress Priyamani and her husband Mustufa Raj, kick-started the official launch in Dubai by releasing the new ad campaign.

    “I can totally relate to people who have just shifted abroad and badly miss shopping from India. ShoppRe makes it possible to have your favorite Indian goods delivered right to your doorsteps,” said Priyamani.

    The firm’s major investor V A Hassan said: “I have been in Dubai for more than four decades. I have seen the huge demand for Indian products like fashion, food, etc, which are popular everywhere, but not easily accessible or are extremely overpriced”.

    ShoppRe was founded in October 2016 and has fulfilled orders worth INR 40 million (US$565,200) for more than 15,000 customers, including both Indian and non-Indian consumers. It has shipped products to more than 80 countries.

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  • India Ancestry opens first store in Kolkata

    India Ancestry opens first store in Kolkata

    The newest brand from Future Style Lab, Ancestry, which launched its maiden store in the capital city in May, has recently opened its first store in Kolkata, South City Mall. The brand, which presents a contemporary take on traditional Indian fashion and lifestyle, has earned many accolades in India’s fashion circles already and seems all geared up to woo Kolkatites too.

    Ancestry is inspired by the evolving face of the new age Indian who is self-assured, professionally competent and curious to discover new paths. The brand’s offering, encompassing women’s apparel & accessories, home furnishings, and other lifestyle products, is constantly evolving and is in line with international trends, and yet interestingly rooted in Indian heritage and crafts.

    With pricing that is perfectly suited to any urban Indian’s pockets, Ancestry’s unique collection of dresses, tops, and tunics are created completely using natural fabrics, thereby offering an unmatched quality and fashion sensibilities in that price range. This is one of the key reasons why the brand’s products have nearly flown off the shelves at its current stores in Delhi and Mumbai.

    For the new store launch, Manjula Tiwari, CEO at Future Style Lab, the parent company of Ancestry, said, “Ancestry provides an unparalleled, modern-day experience of old-style Indian artistries, and we’re sure that the brand’s offering will find much love and appreciation with our consumers in Kolkata. We’re truly excited about launching this store, and are thankful to South City Mall for providing us with an impeccable space and opportunity, right in the heart of Kolkata.”

    Ancestry’s tagline #StoriesRetold, perfectly sums up its ethos, for every line of products the brand comes up with tells the story of a particular craft or tradition, but in a way that is suited to the new-age lifestyle.

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  • Demand of women’s athleisure wear growing at a rapid pace globally : Lotto

    Demand of women’s athleisure wear growing at a rapid pace globally : Lotto

    Lotto Sport Italia S.P.A, a major name in international sports industry, is nothing less than a household name in India. The brand is manufactured, retailed and licensed by Sports Station Pvt Ltd (SSIPL) in India. The organization has been instrumental in the brilliant re-launch of the brand Lotto Sports in India, making it available across nation.

    According to Shivam Kataria, Vice President, SSIPL Retail, since Lotto has been in India from a very long period of time, either customers have grown up wearing the brand or are aspiring to wear it. “The brand awareness of Lotto is so strong in India that many customers instead of considering it as an Italian brand, think that it is an Indian brand.”

    Abroad, the brand is associated with football and tennis. But it gained its share of popularity in India in the running segment. Slowly and gradually as the Indian market followed international trends and inclined towards the athleisure segment from performance wear, Lotto has also changed its perspective.

    “The Athleisure market is poised to grow 15-20 percent year-on-year. Seeing the immense scope in the category going ahead, Lotto also started changing its outlook towards the market by expanding into the athleisure segment. However, the running segment, football and tennis shoes remain core to the brand,” states Kataria.

    Explaining it further, he says, “A majority of people across the globe have started participating in sports, not for competition but for their well-being, for interaction and for fun. They want sportswear which can be worn in the morning, afternoon and evening. They want to feel comfortable wearing the same shoes in office as well as to a club, and this is the major reason behind the rising demand of athleisure.”

    Another category which has seen a spike in demand at Lotto is women’s wear.

    “Currently, 30 percent revenue is coming from the women’s segment. We are targeting to close this year with 30 percent contribution from women customer including footwear and apparel,” asserts Kataria.

    Target Consumer

    The brand caters to modern-day consumers who consider fitness a lifestyle. It also focuses towards catering to the needs of serious sports enthusiasts. Lotto is also positioned as a brand, which delivers international standard sports merchandise to Indian sport enthusiasts.

    Omnichannel Strategy

    According to Kataria, there are two ways to go Omnichannel – to have your own website or to partner with various e-commerce players. “We have partnered with various e-commerce players as cost of customer acquisition is quite high with our portal.”

    “Omnichannel is still evolving in India and in the next six months to one year, the entire system around Omnichannel is expected to get cemented,” he explains. Going forward, Lotto is planning to introduce their own e-commerce portal.

    “Store integration from an Omnichannel perspective is underway and we can expect it to be fully functional in six months,” he states The brand, which has men’s footwear as the fastest moving category, gets 25 percent contribution to the overall revenue from online business.

    Future Plans

    At present, the brand has 36 EBOs across major locations in Delhi/ NCR, UP, Haryana, Maharashtra, West Bengal, MP, J&K, Uttrakhand and Gujarat. It has presence in over 200+ MBO’s including Sports Station, Reliance Footprints, Pantaloons, and leading e-com portals like Flipkart, Amazon, Snapdeal and Jabong.

    Elaborating on the expansion plans of the brand, Kataria reveals, “This fiscal, we are planning to open more 15 EBOs in North, East and South regions and add another 25-30 stores next fiscal. Our plan is to double the store count in one year’s time.”

    “In the next fiscal we will be adding 100 more SIS. We are also looking forward into new categories like bags, luggage and light fitness equipment,” he adds.

    At the same time, the brand is expanding the categories like women’s wear and apparel. According to Kataria, Tier I and Metro cities are where Lotto’s business is and Tier II and beyond is where its growth lies.

    The brand, which has been growing on 35-40 percent year-on-year, plans to grow at the same scale this fi scal too.

    “The same store sales growth has been flatish or slightly negative as compared to last year. However, we are expecting to see a good season from January onwards,” he says.

    The sportswear brand, which endorses the best of athletes in the sports arena including major names like Luca Toni, David Ferrer, Agnieszka Radwanska, Carla Suarez Navarro, Kevin Anderson and many more, is targeting Rs 150 crore plus revenue in India.

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  • Zomato India to expand food delivery business to 100 cities

    Zomato India to expand food delivery business to 100 cities

    Online restaurant guide and food ordering firm Zomato on Friday said it is expanding food delivery services to 100 cities over the next week.

    The company’s food delivery services are currently present across 93 cities and lists over 75,000 restaurants on the platform, Zomato said in a statement.

    “… the food delivery business is ramping up really well with the growth in main markets, as well as the reception in tier II tier III cities,” Deepinder Goyal, Founder and CEO, Zomato said.

    Founded by Goyal and Pankaj Chaddah in 2008, Zomato is a restaurant search and discovery platform providing in-depth information for over 1.4 million restaurants across 24 countries and serves more than 50 million users every month.

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  • ASICS India opens first store in Kolkata

    ASICS India opens first store in Kolkata

    ASICS, a true sport performance brand, launched its first store in Kolkata thereby expanding its retail footprint in a bid to strengthen its presence in India. With the opening of the ASICS Kolkata store, the brand has taken a step forward to strengthen its presence in the east region. The new store is located conveniently in one of the finest malls of the city – South City Mall. The store will offer a wide range of running, training and core performance sports shoes, apparel and accessories for men and women.

    The brand will accelerate its expansion of operations in India, bolstering sales and marketing support for retail stores in response to increasing consumer awareness of health and fitness and rise in spending power.

    Speaking on the new launch, Rajat Khurana, Managing Director, ASICS India said, “Given the potential and growing demand for fitness and sports, India has emerged as an important market for ASICS. This year, our focus is to expand our footprint in both tier 1 and tier 2 cities and offer our best in class products ranging from running, sports, for gym and other fitness-related gear. Kolkata is a very key market for us considering the large audience for sports and fitness in this market. We are hopeful that our products designed keeping core performance in mind will be able to cater to the needs of sports and fitness lovers in the city.”

    The store will showcase the latest ASICS AW18 collection that will host a range of key collections, like the newest additions to the ASICS running portfolio – ASICS Liteshow along with key products like Kayano 25 and Nimbus all featureing FLYTEFOAMTM, ASICS lightest-ever midsole technology. FLYTEFOAM works with the wearer’s foot to deliver superior cushioning every step of the way. It is also about 55 percent lighter than the industry standard midsole material, offering runners a comfortable fit with a fast, responsive feel.

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  • Malabar Gold to expand into Hong Kong market

    Malabar Gold to expand into Hong Kong market

    Indian jewellery firm Malabar Gold & Diamonds is making plans to open 500 more outlets globally over the next five years – and Hong Kong is among the targets. The jeweller currently operates more than 250 outlets in 10 countries, 75 of which are in the Gulf region, including 12 in Qatar.

    The firm’s immediate expansion plans are to open more branches in Malaysia in the coming months, where the group started operations last year.

    Malabar Group chairman M P Ahammed said jewellery customers in Malaysia are showing enormous interest in the company’s ornaments and now the brand is gaining remarkably good acceptance in the country.

    “As part of our expansion, we are also looking at markets such as Hong Kong where there is increasing activity at present. The Chinese are buying both gold and diamonds in large quantities unlike what they used to, say, some three decades ago.”

    Speaking about the state of the business in general, Ahammed said: “From a modest beginning in Kozhikode in 1993, we have now expanded our operations even to the US, where our first outlet was opened earlier this year in Chicago.

    “Wherever there are strong family traditions and customs, there is hope for expansion in this business. A husband may want to gift something precious to his wife on a memorable occasion, a mother to his daughter and a son to his mother. No wonder, the choice of everyone in such moments – of strengthening bonds – continues to be gold or diamond.’

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  • India’s Shop101 in talks for funding boost

    India’s Shop101 in talks for funding boost

    Indian online marketplace Shop101 is seeking to raise $11-12 million in a Series B funding round. Talks concerning the investment are being led by Kalaari Capital and Unilever Ventures, with participation expected by current backer Stellaris Venture Partners, which invested $5 million several months ago. Investment capital is likely to assist the firm in technological development and expansion into new business categories.

    Shop101 uses Whatsapp, Facebook and Instagram functionality to support online entrepreneurs. WhatsApp and Facebook each have more than 200 million users in India. The Shop101 app has been downloaded about 1 million times and has experienced growth of 50 per cent month on month since its launch.

    A joint report by Google and KPMG last year indicated online SMEs could boost Indian economic growth by 10 per cent by 2020.

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  • SsangYong launches Rexton Sports in Latin America

    SsangYong launches Rexton Sports in Latin America

    SsangYong Motor, the Korean unit of Indian carmaker Mahindra & Mahindra, said Wednesday it has launched the Rexton Sports sport-utility vehicle (SUV) in Latin American markets to boost sales. SsangYong Motor launched the Rexton Sports SUV in Chile in September, Ecuador in October and Paraguay in November, following its launch in Europe in the second and third quarters.

    The carmaker plans to introduce the car in Africa and Middle Eastern markets in early 2019.

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