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Tag: Japan

  • Starbucks’ Lucky Bags entice customers in Korea

    Starbucks’ Lucky Bags entice customers in Korea

    Lee Min-joo, a 43-year-old cram school teacher, made it a point to be at the Starbucks outlet near her house last Thursday at 6 a.m. She wasn’t there for the coffee – she was waiting to buy a limited edition “Lucky Bag.” Lee said she has bought Starbucks Lucky Bags for nine years in a row. She confessed that two years ago, she was in line at 5:30 a.m.

    “I am a collector of diverse Starbucks products,” Lee said. “And I always get curious as to what’s in the bag.”

    This year, Starbucks’ Lucky Bags are bigger than ever.

    Lucky Bags were the most-searched term on the internet in Korea last Thursday and social media was abuzz with people posting pictures of the products they got in their Lucky Bags.

    Four stores near Seosomun, central Seoul, were sold out before 10 a.m.

    Lucky Bags are mystery bags sold at a given price, 63,000 won ($56) this year. The products contained in the bags are unknown to the customers who buy them. The value of the goods inside exceed the selling price.

    Starbucks introduced its Lucky Bags in 2007 and they have become the chain’s unique annual New Year’s ritual in Korea and Japan.

    One of the reasons Starbucks’ Lucky Bags sell out so quickly is their limited supply.

    The total number of Lucky Bags prepared in Korea is 17,000 and each store only get 15 or so -there are over 1,200 Starbucks in Korea.

    In 2016 the bags sold out in just five hours nationwide. In 2017, that time was shaved down to 4 hours and 40 minutes.

    Each customer is only allowed to buy one Lucky Bag.

    Lucky Bag devotees have now become a tribe with their own nickname. They call themselves “Sudeok,” which combines the first Korean syllable of the chain’s name as pronounced by Koreans, “Su,” with “deok,” a shortened version of deokhoo, Korea’s own version of otaku, Japan’s term for a person with obsessive interests.

    The Sudeoks who purchase Lucky Bags even swap items to get the items they really want.

    In 2007, the Lucky Bags were sold for 28,000 won and the price has continued to climb. The value of the things inside is said to be more than 100,000 won.

    The bags often have tumblers, water bottles and coffee mugs, as well as gift coupons. This year, 1,000 Lucky Bags contained four additional free coupons.

    “It’s a good marketing strategy that combines a limited edition appeal and the emotional appeal of winning a jackpot,” said Lee June-young, a professor who studies consumer trends at Sangmyung University.

    But not every Lucky Bag fan is satisfied with their haul.

    On social media, one disappointed fan posted a message reading, “It is not a Lucky Bag, it is an unlucky bag.” Another wrote, “The only lucky one is Starbucks.”

    “I have been buying the Lucky Bags for three years, but this year I decided not to because of the 60,000 won price tag,” said Lee Hyun-jeong, a 29-year-old office worker.

  • Rimowa opens in Tokyo first stand-alone store in Japan

    Rimowa opens in Tokyo first stand-alone store in Japan

    Rimowa Japan has opened its first standalone store in Tokyo. The luxury luggage brand’s new 900sqm outlet in Ginza features a minimalist decor focused on a spiral staircase backed by a backdrop of basketweave, recalling a traditional Japanese craft design aesthetic. Rimowa Japan says the store is equipped to perform simple repairs, with staff speaking both English and Chinese, to cater for the tourist market.

    A heritage brand founded in Cologne, Germany, more than a century ago, the brand is primarily known for its aluminium and polycarbonate suitcase lines. LVMH owns a controlling 80 per cent stake in the brand.

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  • China, Japan boost Brunello Cucinelli revenue growth

    China, Japan boost Brunello Cucinelli revenue growth

    Italian luxury house Brunello Cucinelli reported a leap in revenues for the 2018 fiscal year, with all geographic regions recording sales growth, particularly Greater China and Japan. For the year ending December 31, 2018, Brunello Cucinelli said total revenues increased 8.1% to €553 million, (+10.7% at constant exchange rates), compared to €511.7 million in 2017.

    The Solomeo-based company saw a significant rise in sales at 8.8% in the international markets and 4.2% in the Italian market, according to a press release published on the Italian stock exchange on Monday.

    By region, Greater China witnessed the biggest increase with an incredible 28.5% sales growth, followed by the Rest of the World region, up 10.7%, which was lead by Japan and the Middle East. Sales in Europe increased 8.5% and the U.S. saw growth of 3.9%.

    By distribution channel, Brunello Cucinelli’s retail sales gained 6.3% globally, with wholesale monobrand and multibrand up 19.4% and 9%, respectively.

    Capital expenditure for the twelve months was approximately €45 million, with “the objective of keeping the brand image extremely high in both the physical and digital channels,” said the company.

    Net debt narrowed €15 million, a slight improvement compared to 2017.

    “Another year has come to an end in a splendid manner, both in terms of numbers and from the standpoint of the general image of the brand at a global level,” said Brunello Cucinelli, Chairman and CEO.

    “We continue to support, believe in and invest in our beloved Italy, perceiving the great value this represents at a world level for the country’s creativity, quality and craftsmanship.”

    Following the stellar results, which included the sell out of the past winter collections, followed by strong spring/summer 2019 orders, the brand said it expects “another year ahead of gracious growth in line with 2018.”

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  • F&B procurement startup lures Japanese investor

    F&B procurement startup lures Japanese investor

    Kamereo, a Vietnamese sourcing platform for restaurants, has raised $500,000 in seed funding from Japan’s Genesia Ventures and Velocity Ventures Vietnam. Japanese Taku Tanaka, founder of Kamereo, said the newly acquired money would be used to upgrade the platform’s service offerings and strengthen the customer care team. “We use technology to solve the buying and sourcing problem, and restaurants can focus on their core business to bring the best culinary experience to customers. In future we will expand our services to other sectors and regions.”

    From his experience, Tanaka, who moved to Vietnam in 2015 as CEO of a pizza chain, found that procurement operations were mainly labor-intensive and inefficient.

    “We believe that technology can solve this problem, providing solutions to reduce the cost of personnel in a transparent and accurate manner,” he said.

    The Ho Chi Minh City-headquartered business-to-business procurement platform, established last June, now has more than 4,000 product categories, 120 partner suppliers and 200 registered restaurants.

    While Kamereo will focus its resources on Vietnam for now, it is planning a series A round of funding involving a few million U.S. dollars in late 2019 or 2020 to expand in Southeast Asia.

    The funding came amid a technology startup boom in Vietnam’s F&B market where delivery platforms such as GoViet and Grab battle for market share down the supply chain.

    A report published last October by Vietnam Research said Vietnamese spend more than a third of their income on food and beverages ahead of education and utilities.

    Global research firm Nielsen also considered F&B one of the most attractive industries, with the potential to become a major player in the Vietnamese economy, citing findings from one of its studies which found food and beverages were two of the 10 most bought products online in 2017.

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  • New Michael Kors to increase focus on Asia

    New Michael Kors to increase focus on Asia

    With the completion of its acquisition of Versace, global fashion group Michael Kors Holding has successfully transitioned into its new identity as Capri Holdings Limited. The group, which now owns Michael Kors, Jimmy Choo and Versace, hopes to leverage its brands to grow group revenue to US$8 billion, while increasing its exposure to the Asia pacific region from 11 per cent to 19 per cent.

    The group also notes an effort to reduce its exposure to the American market, from 66 per cent to 57 per cent, in the long term.

    “We have now created one of the leading global fashion luxury groups in the world,” Capri chairman John D. Idol said.

    However, considering the past performance of these brands, one cannot be certain whether this merged entity can turn them around says IBISWorld senior industry analyst Kim Do, though “Capri Holdings seem confident in their ability to do so.”

    “While many are concerned about the company diffusing its newly acquired brands, similar to that of its own, this is unlikely as, similar to Jimmy Choo’s agreement with Kors Holdings, Donatella Versace will continue to remain the creative director [of] her namesake brand, leading the brand’s creative vision,” Do said.

    “However, while it is likely that Versace will be pushed into new avenues of revenue (such as a stronger focus on Asian markets) it will likely not include mass-retailers – which is how Michael Kors expanded previously.”

    According to Do, IBISWorld expects Capri to hold off on further acquisitions for the time being, and will most likely focus on growing the three brands it now hold in its portfolio.

    In November 2018, the group saw total group revenue decline 32 per cent to $189.76 million (US$137.6 million), from $279.81 million (US$202.9 million) the year prior, which GlobalData Retail managing director Neil Saunders called “disappointing”.

    “Although overall revenue growth looks robust, it continues to be flattered by the acquisition of Jimmy Choo, which has yet to annualise out,” Saunders said.

    “In short, after slowly climbing the steep hill of recovery, Michael Kors now appears to be rolling back down in reverse.”

    Saunders also said the acquisition of Versace could prove to be a distraction that limits the group’s abilities to fix the core problems within it’s main brand.

    In November 2018, the group saw total group revenue decline 32 per cent to US$137.6 million, from US$202.9 million the year prior, which GlobalData Retail MD Neil Saunders called “disappointing”.

    “Given Michael Kors’ relative lack of success with its own label, we do not see the group being able to [easily] undertake the retooling required to generate superior results.”

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  • Ramen Cubism makes debut in Hong Kong

    Ramen Cubism makes debut in Hong Kong

    Japanese celebrity chefs Hayashi Takao and Matsumura Takahiro are launching a new international noodle soup restaurant brand called “Ramen Cubism”. The brand’s flagship opens in a chic basement venue in Hong Kong’s Wellington Street tomorrow. It is the collaborators’ first overseas venture, launched in partnership with Hong Kong’s Bird Kingdom Group, of Lai Chi Kok’s D2 Place. It marks the first collaboration between Chef Hayashi and Bird Kingdom Group, slated for international expansion with branches across the region – including their hometown of Osaka, Macau (within the next quarter) and Mainland China.

    Ramen Cubism introduces Chef Hayashi’s signature ramen creations to Hong Kong, following the success of his Osaka restaurant that regularly attracts long queues of as many as 100 diners.

    Pictures gallery below (5 images) :

    Equally renowned as a ramen master and recipe developer, Chef Matsumura has previously established eight noodle brands in Osaka, including the newly-opened “The Most Hopeful Ramen Bar in the World”.

    In celebration of its launch, Ramen Cubism features Chef Hayashi’s new exclusive Hong Kong recipes, limited to 200 servings a day during opening time.

    “Ramen Cubism promises to be a magnet for lovers of this beloved specialty,” said Bird Kingdom Group CEO Eric Ting. “We look forward to building a new generation of followers in Hong Kong and worldwide for this traditional high quality and flavourful comfort food”.

  • Knows deeper Japanese lifestyle guru Marie Kondo

    Knows deeper Japanese lifestyle guru Marie Kondo

    Marie Kondo is the queen of organization. Her book, “The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing,” reveals her instructions for organizing your space in one sitting, and then never having to do it again. Her methods have garnered a significant social media following with the hashtag #konmarimethod, and also landed her a spot on Time’s 2015 “Top 100 Influential People” list.

    Marie Kondo is a Japanese organizing consultant and author. She has written four books on organizing, which have collectively sold millions of copies and have been translated from Japanese into languages including Korean, Chinese, Spanish, Indonesian, French, German, Swedish and English.

    Ever since Netflix released Tidying Up With Marie Kondo on New Year’s Day, Twitter has been awash with Kondo memes.

    Marie follows the the Japanese way of living based on minimalism, and she applies to all objects in house.

    Marie is growing popularity on the web; however, some of her statements divide the internet.

    In the digital age, while experts maintain that influencer marketing is fading out, and some others opt for micro-influencers, Marie seems to belong to a complete new category that aims to make people’s life better through reducing possessions instead of accumulating goods.

    We are looking forward to see what’s next for influencer marketing.

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  • Omotesando Koffee Coffee Shop Opens in London

    Omotesando Koffee Coffee Shop Opens in London

    Popular Japanese coffee shop Omotesando Koffee has opened in the central London district of Fitzrovia on Rathbone Square. Serving coffee in a manner inspired by Japanese tea ceremony, the cafe features a cubic bar design where each customer is served by a single barista in ritualistic fashion. The approach has inspired a cult following in the brand’s home territory, and has been followed by a sister brand in Tokyo that offers gourmet bean selections in cloth bags.

    While Omotesando’s original location has closed due to poor building maintenance, it reopened in Hong Kong in 2016, followed by launches in Tokyo and Singapore. The London location aims to provide a unique coffee experience in an otherwise generally homogeneous market.

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  • Vietnamese Airbnb startup raises $3 mln from venture capitalists

    Vietnamese Airbnb startup raises $3 mln from venture capitalists

    Vietnamese homestay platform Luxstay has raised $3 million from CyberAgent Ventures and other foreign investors in its bridge round. Representatives of Luxstay, the Vietnamese homestay booking start-up, said the total capital raised could rise to $5 million as negotiations are still ongoing with interested investment funds. CyberAgent Ventures (CAV), a Japan based investment firm specializing in incubation and investment in early-stage companies, played a leading role in directing the structure and execution of this funding round, the third for the firm after the seed and pre- Series A rounds.

    This is also the second time the firm has injected capital in Luxstay, after its initial investment in the company’s pre-Series A round in early 2018.

    Dzung Nguyen, CyberAgent managing director for Vietnam and Thailand, believes that the “sharing economy” is a development trend in many business areas, and it will impact both tourism and real estate markets.

    “We believe the Luxstay model capitalises on this trend, and will create a major impact on the market in the coming time,” he said.

    According to Luxstay, there may be millions of townhouses, condominiums and holiday villas that are willing to participate in the short-term accommodation market.

    Therefore, the company has targeted having several hundred thousand properties participating in its home-sharing platform over the next 5 years.

    The founder of the application, Nguyen Van Dung, said that with the current development speed and market potential, Luxstay will focus on accumulating resources to speed up technological development towards building an effective ecosystem to lead this new industry.

    The startup plans to find new investors for its next Series A round in mid-2019 with a potential scale of $10 million.

    Launched in 2016, Luxstay now has a network of nearly 10,000 properties across the country. This is a short-term rental booking platform for apartments, villas and other homestay accommodations positioned in the mid and high-end segments of Vietnam’s real estate market.

    A pioneer in building a platform allowing Vietnamese homeowners to participate in the rental market, the company has created new accommodation facilities for increasing numbers of youth and professionals who travel for work or leisure.

    Luxstay had also received much attention from foreign funds in its previous venture rounds. According to Crunchbase, an online database on investment activity, Luxstay raised $500,000 in its seed round in June 2017 from Vietnam-based ESP Capital and Japanese Genesia Ventures.

    Another $2.5 million was raised in May 2018 in its pre-Series A round from CyberAgent Ventures (Japan), Genesia Ventures (Japan), ESP Capital (Vietnam) and Nextrans (South Korea).

    In September 2018, the startup became a Vietnamese strategic partner of Rakuten Travel, the tourism branch of Japanese e-commerce giant Rakuten. Y1 Venture and other firms were also involved in the bridge round.

  • Japanese cosmetics surges in export number

    Japanese cosmetics surges in export number

    Japan’s cosmetics exports are on track to surpass 500 billion yen ($4.53 billion) for the first time in 2018, marking a sixth consecutive record year, thanks to Asian tourists who continue to buy these products after returning home. Exports in the January-November period grew 44% on the year to 482.8 billion yen, according to a tally of 16 types of cosmetics compiled from trade data by Nikkei. Demand for gifts tends to boost exports in December, and with major cosmetics makers’ plants running at high capacities, the full-year figure is expected to reach around 520 billion yen.

    Mainland China was the top buyer from January through November, accounting for 34.9% of exports by value, followed by Hong Kong at 25.9%, South Korea at 10.3%, Taiwan at 7.3% and Singapore at 7.3%. Asia accounted for 90% of the total.

    Japan’s cosmetics exports have tripled in the last four years along with a rise in visitors to Japan. Exports exceeded imports for the first time in 2016 as inbound tourism creates new customers for high-quality Japanese goods who continue to buy them online or in stores upon returning home.

    Cosmetics exports are likely to keep climbing in 2019. China will implement in January its first e-commerce law, which will require domestic online platforms to register with the government. With the crackdown on illegal marketing, direct exports of Japanese cosmetics are expected to increase as smaller Chinese retailers that sell goods procured directly from shops in Japan decline.

    Top cosmetics makers are also actively expanding their sales. Shiseido plans to begin in 2019 officially selling new products in China from its namesake mainstay brand, which launched worldwide this fall. The company will open a facility for collaboration with Alibaba Group in Hangzhou from January and jointly develop products with the Chinese e-commerce empire.

    Kao plans to double the number of stores in China carrying its popular Freeplus skin care brand to more than 2,000 by 2020. It will also cultivate sales for its makeup brand Kate, which launched a Chinese marketing campaign in December. Kose is accelerating the online sales campaign it began in China this autumn for its luxury brand Decorte.

    Japanese cosmetics makers are increasing the capacity of domestic plants to meet the surging export demand. Shiseido plans to bring a new domestic factory online in 2019 for the first time in 36 years, in Tochigi Prefecture, to produce more items like skin care products. It will also begin operations at a new facility in Osaka Prefecture in 2020.

    Kao will roughly double production for its Freeplus brand from 2017 levels, too, by investing in its main factory in Kanagawa Prefecture. Boosting domestic production is likely to encourage exports further by increasing supplies of “made-in-Japan” cosmetics.

  • How the retail industry has fared in 2018

    How the retail industry has fared in 2018

    The overall retail market in India 2018 stood at Rs 43,251 billion and is forecast to grow by 6.4 percent CAGR in 2018-2023. Retailing in India still predominantly takes place in physical stores and shopping behaviour between urban and rural consumers continues to be vastly different. Smaller independents (both grocery retailers and non-grocery specialists) continued to dominate the landscape they faced growing competition from modern outlets opening in out-of-town shopping centres and malls capturing the Tier II & III markets.

    This year, we witnessed modern retailers launch interesting payments schemes and effective pricing strategies to propel the sales. For example, leading retailer Future Group launched its payment wallet Future Pay which can be used in all its retail brand outlets. Retailers also capitalised on growing acceptance of modern retail by developing new marketing schemes and strategies to attract shoppers.

    Additionally, multi-channel strategies remained key for retailers as they are developed online platforms that are also smartphone and tablet compatible to drive Internet sales.

    Furthermore, retailers also increased their new private labels products. This is was done for certain grocery categories like: packaged foods, non-alcoholic drinks, beauty and personal care and home care products.

    Finally, subscription-based retailing practices started to pick up in 2018. Although still relatively niche, and limited only to urban India, the subscription-based model for beauty and personal care and consumer health became quite popular in metropolitan cities.

    What are the retail trends that are going to rule the roost in retail in 2019?

    – Retailing will continue to offer potential for grocery retailers. Convenience stores and forecourt retailers are likely to continue to see healthy growth rates as their format can meet the demands arising from changing lifestyles by offering more convenient shopping solutions, both in terms of location, business hours and product range.

    – Given the rising maturity of retailing in metros/urban areas, retailers have slowly started to focus on the semi-urban consumer base. This has resulted in the slow and steady urbanisation of shopping styles amongst semi-urban consumers.

    – As the labour crunch and high rentals continue to affect the retail landscape in India, hypermarkets are looking to ramp up investment on self-service technology and automation to reduce costs and improve customer experience. Some hypermarkets chains have implemented self-service kiosks at checkout counters, generally with positive results because of reduced waiting times. Investments have also been made into automated ordering systems, which has helped brands reduce storage space at outlets, hence control rental costs. This can be expected to grow during 2019 as well.

    – Furthermore supermarkets are likely to push the broadening of key product categories, such as organic fresh food, soft drinks and packaged food. They are also likely to further narrow the line between foodservice and grocery retailing, with the introduction and integration of new foodservice elements within their stores.

    – Non-grocery retailing will likely be impacted by the growth of internet retailing at the expense of specific store-based retailers and other non-store channels. Consumers are expected to increasingly shop and research products online, with the popularity of smartphones making mobile-optimised sites and shopping apps crucial in attracting consumers. Moreover, social media will be used more often to alert consumers to attractive price promotions and build interest in new product launches. Also, omni-channel strategies will remain key for non-grocery retailers.

    – Non-grocery retailers will increasingly integrate their online brand information with store inventory, as consumers expect to find the same products in both channels. Moreover, to minimise showrooming, players will also need compelling reasons for customers to buy their brands in store, whether in terms of product selection or price competitiveness.

    – The entry of Amazon and Flipkart could stimulate a much-needed increase in the competition, which will bring both opportunities and threats for existing food and drinks retailers in India. Amazon with ‘Amazon Pantry’ and Flipkart with ‘Flipkart Supermart’ eventually launched its online grocery business in 2018. Millennials and affluent consumers were encouraged to change from shopping in physical stores to online in 2018 with convenience and heavy discounts on offer. Also, with increasing investments from player such as Amazon who are expected to buy skate in Future Retail and PayTm who have partnered with BigBasket and Future Group to strengthen its online grocery business, the food and drinks internet retailing is expected to show tremendous growth in 2019.

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  • Shiseido makes plans for China

    Shiseido makes plans for China

    Shiseido reinforces the regional headquarters system that oversees the business in China as of January 1, 2019. Moving towards the achievement of its medium-to-long-term strategy, VISION 2020, Shiseido will evolve further to ”Be a Global Winner with Our Heritage” by ensuring sustainable growth in the significantly growing Chinese market.

    Under the new system, Shiseido will reinforce the brand business structure in the China region and its supporting corporate functional structure in order to enhance brand appeal to Chinese consumers and strengthen market execution.

    As to the Brands Business, the management function of the Prestige Brands business in the China region and the CMO function of Cosmetics Brands ＆ Personal Care Brands will be established. Furthermore, the strategic alliance with emerging e-commerce platform companies in the China region will be strengthened under direct control of the CEO of the China region.

    At the same time, Shiseido will proactively support the business strategy and reinforce the corporate functional structure aiming to improve its organizational capability to ensure sustainable business growth.

    Shiseido will continue leading growth through the acquisition of greater competitiveness of the Chinese business and by reviewing the organizational structure to optimize functions for all areas and market characteristics around the world.

  • Ramyeon Korea set to cross the $400 million export mark

    Ramyeon Korea set to cross the $400 million export mark

    Exports of ramyeon are sure to exceed $400 million this year, a state food agency reported Wednesday. Shipments of ramyeon totaled $385 million as of the end of November, up 11.2 percent from the same period last year, according to Korea Agro-Fisheries & Food Trade.

    The figure is already more than the total for 2018. Given the sum so far, the monthly average exports are $35 million, suggesting that exports will $400 million by end of this year. South Korea broke the previous threshold of $300 million just last year.

    Ramyeon remains popular in the United States and in Southeast Asia, while China’s boycott of Korean products due diplomatic disagreements has weakened, according to the agency.

    Related data showed Korea exported $8.56 billion worth of agricultural and fisheries products in the first 11 months of the year, a gain of 2.6 percent from last year.

    By country, exports to Japan were the highest, at $1.94 billion, followed by $1.38 billion to China, $980 million to the United States and $530 million to Vietnam.

    The figures indicate a 0.3 percent fall for Japan but increases of 1.2 percent for China, 0.2 percent for the United States and 1 percent for Vietnam.

    Exports of farm and livestock products rose 2.4 percent to $6.37 billion, and those of fisheries goods were up 3.1 percent to $2.2 billion.

  • JR East’s Atre to open first shopping mall outside Japan in Taiwan

    JR East’s Atre to open first shopping mall outside Japan in Taiwan

    The East Japan Railway is launching its first overseas shopping mall in Taiwan next month. The mall is opening under JR East’s station complex management subsidiary Atre, following an extended consideration of alternative international locations that included Thailand, Malaysia and the US. Taiwan was was chosen for its affinity with Japanese brands, which will occupy around 60 per cent of the mall’s 51 stores.

    The mall will open in Taipei Nan Shan Plaza’s Breeze Center on January 10.

    “We have no specific targets or plans at this point on how many shopping malls we want to develop outside Japan,” a spokesman for East Japan Railway said.

    The firm has 29 malls to date within Japan.

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  • Bottega Veneta opens massive flagship store in Tokyo

    Bottega Veneta opens massive flagship store in Tokyo

    High-end Italian label Bottega Veneta has opened a new flagship in Tokyo this month. The six-storey store at Ginza Chuo-Ku is the brand’s largest in the Asia region, and features men’s and women’s ready-to-wear, leather goods, handbags, eyewear, footwear, fragrances, jewellery and home decor.

    The store’s facade is composed of more than 900 metal panels similar to a motif featured on the brand’s handbag range, while the understated interior design matches Bottega Veneta’s furniture aesthetic.

    The label’s GM Claus-Dietrich Lahrs said in a statement that the Japanese clientele is important and extremely loyal – adding that Japan is one of the world’s leading markets for Bottega Veneta.

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