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Tag: Japan

  • Positive trend for Swiss watch in Hong Kong

    Positive trend for Swiss watch in Hong Kong

    Exports of Swiss watches to Hong Kong rose 35.7 per cent last month, their strongest advance for six years, according to the Federation of the Swiss Watch Industry.

    After 44.3 per cent growth in January, China also exceeded the global average with a 21.7 per cent rise.

    Japan (up 7.1 per cent) and Singapore (up 7 per cent) posted significant growth.

    Following stronger January exports, February was even better, says the federation. The total value of watch exports reached SF1.7 billion francs (US$1.7 billion), up 12.9 per cent.

    Watches made of precious metals and steel set the pace. While overall volumes were less sustained, there was still significant growth, says the federation, driven by timepieces in steel. The result was nevertheless held back by the “other materials” category.

    Growth extended to all price segments, led by watches priced at between SF500 and SF3000 (export price) where the value of exports rose 19.3 per cent.

    Timepieces priced at more than SF3000 francs, up 12.9 per cent, fell within the average range. Products costing less than SF200 achieved 7.8 per cent growth after falling sharply for more than one year, says the federation.

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  • Indonesia sees maiden shipment of chicken nuggets to Japan

    Indonesia sees maiden shipment of chicken nuggets to Japan

    The Trade Ministry has seen the first export of 6 tons of chicken nuggets to Japan on last Wednesday. The nuggets were produced by PT Belfoods Indonesia, the subsidiary of publicly listed PT Sierad Produce.

    “I congratulate Belfoods for being the first company to export chicken nuggets to Japan and for its contribution to Indonesian national exports,” said Trade Minister Enggartiasto Lukita in a statement.

    Enggartiasto said the shipment was a milestone for Indonesia given that the Japanese market was long known as hard to penetrate for Indonesian producers owing to its strict quality standards.

    “We expect that this is a good start to develop the Indonesian processed chicken industry for the international market. If Indonesian chicken nuggets can enter Japan, then it will be easier for it to access other countries,” he said.

    The trade minister also said he expected Indonesian chicken exporters to train local chicken farmers because exports should also increase the livelihoods of local stock farmers while increasing the country’s foreign currency savings.

    The consumption of poultry-based processed foods in Japan reached US$2 billion a year, making Japan a potential choice for exports. China and Thailand are known as the major exporters for Japan.

    Meanwhile, PT Sierad Produce CEO Tommy Wattimena said Belfoods products’ taste had become accepted by the Japanese because the subsidiary had done some market research in the country.

    “Belfoods will still focus on the domestic market while keeping the quality of our products up to export standards to help export development,” he said.

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  • Hong Kong retail rents prepare to move into ‘early upswing’

    Hong Kong retail rents prepare to move into ‘early upswing’

    Hong Kong retail rents are expected to move into an “early upswing cycle” this year according to a regional real estate market briefing prepared by Savills.

    The report details commercial and residential property leasing trends across major Asian markets and as the accompanying tables show, compares occupancy costs of space as well.

    It groups major cities by upswing and downswing, late and early, showing that Hong Kong is at the end of its downswing in retail rental rates. Cities currently in early upswing are Manila, Guangzhou, Jakarta and Singapore. Hong Kong is grouped with Taipei, Hanoi, Ho Chi Minh City and Seoul, suggesting all those markets are about to turn.

    Savills says regional prime retail rents moved by between a decline of 1.8 per cent in Beijing and an increase of 5.9 per cent in Guangzhou last year.

    “Strong local retail consumption growth of 9.5 per cent year on year in the second half of the year following 10.5 per cent in the first half of the year supported the Guangzhou leasing market, while prime shopping malls began to re-position and upgrade, focusing more on entertainment and food & beverage,” said Savills in a brief commentary.

    “Again, Hong Kong’s prime shopping mall rents are considerably ahead of all other Asia-Pacific markets and are expected to move into an ‘early upswing’ cycle this year.”

    Savills says economic growth across Asia-Pacific continued to picked-up moderately in the second half of last year and the International Monetary Fund estimates that the “Emerging and Developing Asia” economies grew by 6.5 per cent over the year as a whole while China grew by 6.8 per cent and Japan’s economy grew by 1.8 per cent last year, from 0.9 per cent in 2016.

    “The improving global economic outlook and an accommodative monetary policy created momentum for business expansion,” said Savills.

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  • H&M opened on Tmall

    H&M opened on Tmall

    H&M China launched on Chinese e-commerce platform Tmall, complementing the Swedish clothing retailer’s 400-plus physical stores and HM.com Shop Online.

    “We are very happy to extend our collaboration with Alibaba by launching H&M and H&M Home on Tmall,” says H&M Greater China country manager Magnus Olsson.

    H&M opened its first store in Mainland China in 2007 and launched its online shop in 2014. The H&M group brand Monki has had strong development in China since its launch on Tmall, and this collaboration between the two groups, touted in December, is being extended to include both the H&M brand and H&M Home.

    During the launch period, H&M’s Tmall shop is offering more than 10,000 styles of fashion items including women’s, men’s, teens’ and children’s styles, plus H&M Home. As well as special opening offers, Tmall and H&M is offering exclusive pieces featured by TF Boys singer Wang Yuan, one of the stars in a H&M/Tmall campaign film.

    “With H&M’s experience in online and offline fashion retail, this collaboration signifies an important milestone for Tmall’s expansion, allowing more customers to enjoy the pleasure of interactive shopping,” says Alibaba VP for Tmall fashion and luxury Lv Jianmei.

    Procurement centres

    Meanwhile, Tmall Global plans to open six procurement centres across the world to help overseas vendors capture Chinese consumers’ booming appetite for newer and better imported goods, says Tmall president Jet Jing. They will be established in Japan, South Korea and Hong Kong, as well as regions of North America, Europe and Oceania.

    Jing’s announcement, at the annual Tmall Global 2018 Global Partners Summit in Hangzhou, did not disclose a time frame.

    Launched in 2014, Tmall Global is Tmall’s channel for cross-border e-commerce. The platform controls nearly a quarter of the market. With Alibaba’s expansive consumer analytics, Tmall Global provides overseas vendors insights into Chinese consumers’ shopping behaviour and preferences.

    China is the world’s second-largest consumer market following the US, according to Boston Consulting Group. The research consultancy notes China will see nearly $2 trillion in new consumption by 2021, and also projects China’s e-commerce cross-border trade to more than double to RMB620 billion (US$98 billion) in gross merchandise volume by next year from RMB305.5 billion in 2016.

    Global commitment

    Tmall Global, which already offers more than 18,000 brands from 74 countries and regions, is committed to attract even more international brands and vendors to sell their goods into China in the coming year, says Tmall Global GM Alvin Liu.

    New Retail, which harnesses new technologies to unify online and offline shopping, will serve as an important driver to power such growth by allowing vendors to engage with their customers in both spheres, Liu says.

    “Our goal is to give Chinese consumers the best shopping experience, so we select only the best quality for China,” says Liu.“We must discover new categories and find new products so Chinese consumers can find items that are best suited to their needs.”

    To achieve these goals, Tmall Global has pledged to boost the traceability of items sold on the platform. By using blockchain technology, consumers will be able to track their orders throughout every stage of the delivery process, starting from the factory at the country of origin.

    Secondly, the platform seeks to expedite the expansion of overseas fulfillment centres so smaller foreign brands can introduce their products to the Chinese market more quickly.

    The platform will also increase the use of bonded warehouses, where imported goods can be stored securely without import duties until the items are sent.

  • Muji fresh store launched in Osaka

    Muji fresh store launched in Osaka

    Japanese anti-brand retailer Muji has opened a massive 4300sqm store in Osaka featuring its first dedicated fresh department.

    While the company has offered dried foods, snacks and other foods since it was founded in 1980, and even shelf-stable vegetables in some stores, this is the first time it has ventured into chilled, fresh meat and produce.

    The Muji fresh store is the brand’s largest globally and five times the typical Japanese footprint. About 50 per cent of it is dedicated to food and it also features a Cafe & Meal Muji eating place.

    Kei Suzuki, director and executive officer of Muji parent Ryohin Keikaku, said that once refined the company will look to roll out the concept in other markets.

    “At first we have to see what is going to happen in Japan, but I believe the Muji customer … is keen to have a good fresh product,” said Suzuki, who was one of the leading speakers at yesterday’s MarketingPulse conference, organised by the Hong Kong Trade Development Council.

    Suzuki said Muji customers are in tune with freshness, sustainability, supporting local farmers and suppliers – and they want quality. He is confident the Osaka concept store will win over customers.

    “Once we see that we are successful then … I also want to try it here in the future. But it has not been decided yet.”

    Photos released by Muji show fresh meats, fish, vegetables and perishable goods on display in a bright, airy retail space. Minimalist design and displays made from natural materials are in keeping with the company’s market positioning.

    Meanwhile, in Japan, Ryohin Keikaku chairman Masaaki Kanai said Muji was committed to expanding its selection of local food products.

    “We want to become a part of the community.”

    One of the reported rationales behind Muji fresh is to entice customers to visit more often. Food is a more frequent purchase than stationery or household items, for example.

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  • Strong sales growth posted by Hermès Asia

    Strong sales growth posted by Hermès Asia

    Hermes Asia sales grew 11.3 per cent last year to €1.946 billion (US$2.4 billion) as the luxury retailer set a new record for gross retail margin.

    The company said the retail market was improving in Hong Kong and Macau, with the Asian market “pursuing its upward curve” and positive outlooks in Mainland China and South Asian countries.

    Growth was aided by store revamps at Sogo Fuxing in Taiwan, Elements mall in Hong Kong and at Kuala Lumpur.

    Sales in Japan (separated from Asia results) rose 4 per cent to €724.1 million, despite a high comparison figure from last year, which the company described as “a sustained increase” in what is a mature market, citing a selective distribution network.

    Group sales totalled €5.549 billion (US$6.863 billion), up 9 per cent at constant exchange rates. Operating income rose 13 per cent, to €1.922 billion, representing a record 34.6 per cent gross margin, while net profit rose 11 per cent to €1.221 billion.

    “Hermes achieved a new year of historic results, thanks to the quality of our know-how, the success of our creations and especially the incredible commitment of the women and men of Hermes,” said executive chairman Axel Dumas.

    Hermes will ramp up its online offer in the region this year, with a new website scheduled to go live in China at the end of this year.

    Meanwhile, the company said the sale of the Galleria building in Hong Kong’s Central district, which previously housed its flagship store, would likely generate a net capital gain of €50 million this year.

    Leather drives growth

    By category, Hermes’ leather goods proved the strongest performer last year, sales rising 10 per cent globally, reflecting increased production capacity as demand rose for its handbags.

    The ready-to-wear and accessories division grew 9 per cent, driven by the success of new collections, fashion accessories and particularly shoes.

    Sales of silk and textile products grew 6 per cent and of perfumes by 10 per cent, largely due to the successful launch of Twilly d’Hermes.

    Watch sales grew just 1 per cent with what Hermes described as “good sales” in company-owned stores. Other Hermes business lines- jewellery, Art of Living and Hermes Table Arts, grew sales by 11 per cent.

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  • FILA launches Pokémon-inspired sneakers

    FILA launches Pokémon-inspired sneakers

    Fila Korea has collaborated with Japanese VR game franchise Pokemon on a range of colourful sneakers.

    Available via Fila South Korea, the limited-edition shoes feature Pokemon characters including Bulbasaur, Charmander, Jigglypuff, Pikachu and Squirtle. The shoes are wrapped in a Pokeball-themed box with a badge and sticker of the corresponding Pokemon.

    There are just two models: the Fila Court Deluxe and Classic Kicks.

    Orders for Hong Kong, Japan, Malaysia, Philippines Singapore, Taiwan and other Asian countries as well as the US can be placed through Harum.io.

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  • Jins, Japan’s biggest eyewear chain, to open in Manila

    Jins, Japan’s biggest eyewear chain, to open in Manila

    Japan’s largest eyewear chain Jins plans to open in Metro Manila this summer.

    Brought in by Suyen Group, the parent of fashion brand Bench, Jins will add a broad variety of eyewear design to the Philippines.

    Each Jins store regularly stocks more than 1200 frames, ranging from classical styles to fashionable.

    Jins offers a visual experience with stores designed like a pop-art gallery, collaborating with graphic artists and architects from Japan and other countries in designing both the eyewear line and their stores.

    Recent collaborators include British product and furniture designer, Jasper Morrison, and Japanese graphic artists and architects Teruhiro Yanagihara and Sou Fujimoto.

    Customers usually spend less than an hour having their eyes checked and spectacles prepared at Jins.

    Jins has around 60 stores in Tokyo, and 300 nationwide.

  • Poltrona Frau Tokyo opens door

    Poltrona Frau Tokyo opens door

    Italian furniture brand Poltrona Frau has opened its first showroom in Tokyo.

    Covering two floors, the 366sqm store’s design is inspired by the firm’s Via Manzoni showroom in Milan.

    Its opening in the culture/fashion/design district of Aoyama represents an important step for the company’s strategy to expand in Asia. It already has a distribution presence in 350 cities.

    The showroom’s layout combines historical and contemporary pieces, from the 1930s Vanity Fair armchair to the GranTorino sofa and the Archibald armchair, both designed by Jean-Marie Massaud.

    Poltrona Frau was founded in 1912 by Sardinian-born Renzo Frau in Turin.

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  • Ippin meets global demand for Japanese Sake with launch of vast online collection

    Ippin meets global demand for Japanese Sake with launch of vast online collection

    Cross-border e-commerce platform Ippin Japan Mall has launched one of the internet’s largest sake collections.

    Ippin, which specialises in direct sales internationally of quality items from Japan, has made available more than 1350 varieties of sake, with direct delivery within a week from supplier warehouses.

    Ippin Japan Mall is a part of the C-Connect Corporation, which also runs a printer ink retailing store. It is active in 16 countries.

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  • Issey Miyake Opens Traditional Kyoto “Machiya”

    Issey Miyake Opens Traditional Kyoto “Machiya”

    Issey Miyake Japan has established a boutique in Kyoto, in a preserved traditional machiya (townhouse).

    Inspired by the classic japanese sumi, or ink colour, the interior has been created by designer and longtime collaborator Naoto Fukusawa. The retail setting is understated, balancing the structure’s original elements with modern interventions across two levels.

    Included in the store is a traditional kura, or storehouse, in a zen-like enclosed backyard. It will be used as a gallery space for Issey Miyake shows. The inaugural exhibition was dedicated to the third collection of Ikko Tanaka Issey Miyake, one of its many apparel lines that features the bold designs of graphic designer Ikko Tanaka (1930-2002).

    Check out the gallery below :

    The boutique stocks the men’s lines Homme Plisse Issey Miyake and Issey Miyake Men, as well as its Bao Bao Issey Miyake tote bags.

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  • Apple Japan to open store in Shinjuku Tokyo

    Apple Japan to open store in Shinjuku Tokyo

    Apple will launch a new store in the Shinjuku ward of Tokyo on Saturday, April 7. It will be the company’s eighth retail outlet in the country.

    Shinjuku is a special ward that’s a major commercial and administrative centre, housing the Northern half of the busiest railway station in the world (Shinjuku Station) and the Tokyo Metropolitan Government Building, the administration centre for the government of Tokyo. As of 2015, the ward has an estimated population of 337,556.

    With the opening of its Shinjuki establishment, Apple will  have 504 retail stores in 24 countries and an online store available in 39 countries.

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  • Japan Tobacco buys Russia’s fourth-largest cigarette maker

    Japan Tobacco buys Russia’s fourth-largest cigarette maker

    Japan Tobacco has agreed to buy Donskoy Tabak, Russia’s fourth-largest cigarette maker, for $1.6 billion in a bid to reinforce its leading position in the country.

    One of the world’s biggest tobacco companies, whose global brands include Winston and Camel, Japan Tobacco (JT) has set its sights on international markets to counter slowing sales at home and intensifying competition in the e-cigarette market.

    JT on Friday said the deal would boost its Russian market share to about 40% from the current 33%, which was already the largest in the country.

    The acquisition of Donskoy Tabak, whose brands include Donskoy Tabak, Kiss and Play, will be completed later this year, it said.

    “This acquisition demonstrates our commitment to reinforce our number one position in Russia,” JT executive vice president Mutsuo Iwai said in a statement.

    The deal will also include JT’s purchase of Greek cigarette maker SEKAP, it said, adding that it has no plan to revise its earnings forecast following the announcement.

    Last year JT spent some $2 billion on acquiring major tobacco manufacturers in Asia, including Mighty of the Philippines.

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  • Vietnam tech firms to expand in Japan

    Vietnam tech firms to expand in Japan

    Japan, one of the global leaders in implementing the 4.0 industrial revolution, is witnessing strong investment from Vietnam’s information technology (IT) firms.

    Currently, there are some 20 IT companies in Vietnam with branches in Japan.

    The Japanese market holds tremendous potential for Vietnam’s information technology (IT) sector, said Trương Gia Bình, chairman of FPT Corporation.

    He said this at the inauguration ceremony of the firm’s sixth representative office in Japan’s Hamamatsu, Shizuoka Prefecture on Tuesday.

    Vietnam’s software exports turnover to Japan is expected to increase from US$300 million to $1 billion by 2020, while the number of programmers working for the Japanese market in the future may increase from 10,000 to 300,000, Bình said.

    For FPT, the Japanese market accounts for more than half of the company’s global sales.

    At present, FPT has more than 400 Japanese customers, including 50 companies on the list of the largest enterprises in the world. FPT’s annual growth rate in Japan is consistently around 30 per cent.

    The Vietnam Software and IT Services Association is encouraging the trend, which will hopefully lay the foundation for turning Vietnam into a software-export country, according to Bình.

    Regarding Vietnam’s advantages when investing in Japan, Bình said “the two countries have similar cultures and strong political and socio-economic relations”. Moreover, “Vietnam, with its young population and low-wage human resources, can help Japan rejuvenate its work force in the software industry. Vietnam is also the source for many Japanese companies in the latest technology fields, such as artificial intelligence, robotics and data analysis”.

    On November 7, 2017, the CMC Corporation opened its first office in Yokohama City, Kanagawa Prefecture. It is expected that by 2020, there will be some 1,000 Vietnamese employees working for the Japanese market.

    Smaller businesses, such as NAL Vietnam Joint Stock Company, are also planning to expand in Tokai after opening representative offices in Tokyo and Nagoya.

    “Vietnam has been the second-largest partner of Japan in software and service outsourcing since 2014”, FPT Software CEO Hoàng Nam Tiến spoke at the recent Việt Nam IT Day 2018 in Japan.

    According to statistics from the Japanese Ministry of Economy, Trade and Industry, the country lacks 100,000 technicians in the fields of information safety, cloud computing and mobile technology.

    In terms of new technology, including artificial intelligence, big data, Internet of Things and robotics, the country is estimated to be short of 600,000 information technology professionals by 2030.

    “It is a huge opportunity for Vietnamese enterprises to join hands with their Japanese counterparts to solve the problem of inadequate human resources in this field,” Tiến added.

     

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  • Tiffany post a strong growth in 2017

    Tiffany post a strong growth in 2017

    Tiffany & Co worldwide has finished its latest year with solid sales growth, both geographically and across product categories, says CEO Alessandro Bogliolo.

    Strong sales growth in Mainland China was offset by lower sales in most other countries.

    “We are focused on six strategic priorities,” says Bogliolo, as the American luxury jewellery revealed it fourth-quarter/full-year figures to the end of January.

    He lists the priorities as:

      • Amplifying an evolved brand message
      • Renewing product offerings and enhancing in-store presentation
      • Delivering an exciting omnichannel customer experience
      • Strengthening the firm’s competitive position and lead in key markets
      • Cultivating a more efficient operating model
      • Inspiring an aligned and agile organisation.
        Total net sales in Asia-Pacific grew by 10 per cent to US$1.1 billion for the full year and 13 per cent to $320 million in the fourth quarter; comparable store sales declined 1 per cent and rose 3 per cent respectively.

    Total net sales growth reflected higher wholesale and retail sales, says the jeweller, while on a comparable store sales basis, the full-year decline reflected strong sales growth in China offset by lower sales elsewhere.

    Meanwhile, fourth-quarter sales growth benefited from performance across Greater China. On a constant-exchange-rate basis, total sales rose 8 per cent in the full year and 9 per cent in the final quarter, with comparable store sales declining 2 per cent and 1 per cent respectively.

    In Japan, total net sales of $596 million in the full year were 1 per cent below the prior year, while sales in the fourth quarter rose 2 per cent to $189 million; comparable store sales declined 1 per cent and rose 1 per cent, respectively.

    Tiffany worldwide net sales increased 4 per cent during the year to $4.2 billion, reflecting sales growth in most regions and across most jewellery categories. Net earnings of $370 million were 17 per cent below the previous year’s $446 million.

    For the fourth quarter, worldwide net sales rose 9 per cent to $1.3 billion, resulting from growth in all regions and across all product categories; comparable store sales rose 3 per cent.