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  • Vietnam gives second electricity discount as Covid-19 relief

    Vietnam gives second electricity discount as Covid-19 relief

    The government has cut electricity prices by 10 percent for the year’s last quarter to support economic recovery from Covid-19 impacts.

    The discount applies to businesses and households for a maximum of 300-kilowatt-hour consumption per month from October to December. Consumption above this limit will attract normal prices.

    Covid-19 quarantine centers will get a 100 percent discount on their electricity bills, while medical facilities that test and treat Covid-19 patients can enjoy getting a 20 percent discount.

    The government had already given a 10 percent discount in the second quarter, which was estimated to cost the state coffers nearly VND11 trillion ($476 million).

    The discounts came as Vietnam’s economy was badly hurt by the Covid-19 pandemic, with key sectors posted drastically reduced or even negative growth.

    In the first nine months, 31.8 million workers were affected by the pandemic, losing their jobs or having their working hours reduced, according to the General Statistics Office.

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  • Ikea starts opening second-hand stores

    Ikea starts opening second-hand stores

    Ikea is to open its second second-hand furniture store in its home country, Sweden, expanding its commitment to the circular economy concept.

    The store, located in the ReTuna shopping mall in Eskilstuna, will stock used Ikea furniture bought back from customers, repaired and refurbished, giving old Ikea furniture a second life instead of ending up at recycling stations or in a landfill.

    The new outlet is scheduled to launch later this year, with the launch billed as part of Ikea’s strategy to become a fully circular business by 2030.

    “By testing new ideas, we take another step towards our goal of becoming completely circular and making it easier for more people to live a life within the planet’s boundaries,” the company said in a statement. “Our second-hand service is one of several examples of our sustainability work.”

    The second-hand concept was piloted in the UK last year together with a textile recycling scheme. In Sweden, the former is now available in all stores except one in Stockholm.

    Last year, the home furnishing giant launched a subscription program in some regions, allowing customers to rent home furniture.

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  • Pandemic causes steep drop in Asics revenue

    Pandemic causes steep drop in Asics revenue

    Japanese sportswear retailer Asics has posted a steep drop in revenues as a consequence of the coronavirus pandemic.

    The firm has seen a 21.5-per-cent dip in global sales to the equivalent of US$1.4 billion in this year’s second financial quarter, and operating losses of $36.6 million against an $81.2 million profit last year.

    In keeping with a global rise in e-commerce trade heavily influenced by lockdowns and stay-at-home orders internationally, Asics saw an uptick in online sales of 139 percent for its European market – but that was not enough to prevent a fall in gross profits of 20.7 percent to $667 million.

    In its home market sales fell by 24 percent to $444.6 million, while in European sales were down 20.5 percent to $350.9 million.

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  • Dunhill opens new outlet in Macau

    Dunhill opens new outlet in Macau

    British luxury menswear label Dunhill has opened a new store at Wynn Palace in Macau.

    The Dunhill Wynn Palace opening is part of the brand’s expansion strategy in Asia, according to the company.

    The store features a contemporary yet elegant design with modern elements such as its signature marble, leather, and metal details.

    Inspired by the Dunhill’s 1950s South Rodeo Drive store, the Wynn Palace store’s facade features the brand’s logo under a grey marble background and floor-to-ceiling glass walls.

    The store also houses a walnut burl cabinet and table inspired by the original furniture from London’s Duke Street and Paris’ Rue de la Paix stores.

    The Dunhill store in Macau offers a selection of luxury menswear by creative director Mark Weston, including ready-to-wear, leather goods, and accessories.

  • Spotify rolls out video podcasts to free and premium users worldwide

    Spotify rolls out video podcasts to free and premium users worldwide

    Podcasts are a thing for several years now, but they only recently blow up. Spotify and other music streaming services are pushing out lots of features related to podcasts, including the option to see the actual podcasters, while listening to them.

    Spotify revealed that it’s now rolling out a new video podcast feature with select podcasts, which will allow both free and premium users to listen to or watch these podcasts. Spotify also highlighted some of the podcasts that will benefit from video integration: Book of Basketball 2.0, Fantasy Footballers, The Misfits Podcast, H3 Podcast, The Morning Toast, Higher Learning with Van Lathan & Rachel Lindsay, and The Rooster Teeth Podcast.

    Regardless of whether you’re using an Android or iOS device, you can watch podcasts by pressing the play icon that usually appears on compatible podcasts. They should start automatically and sync almost immediately with the audio feed.

    The option to download the audio on your phone so that you can listen to your favorite podcasts on the go will remain available. Keep in mind that the video feature will only roll out in countries where podcasts are supported.

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  • Shoppers return to Macau’s casino malls

    Shoppers return to Macau’s casino malls

    Macau’s casino malls have seen a welcome resurgence in foot traffic as locals bearing shopping vouchers return to store floors.

    While gamblers have yet to return to the casino venues, government e-voucher handouts to eligible residents of the territory have stimulated the local economy in the wake of the coronavirus pandemic.

    “Consumption coupons did help,” said JLL Macau head of leasing Oliver Tong. “When you go to casino malls, including The Venetian and Galaxy, during the weekend, the footfall is tremendous. It felt like going back to November or December last year when there were a lot of people. But these were all locals.”

    Visitor numbers to Macau dropped 99.7 percent in April, with retail sales down 45.1 percent for the first quarter to US$1.41 billion.

    Many retail tenants at Macau’s casino malls and adjacent to gaming facilities have been allowed rental waivers for three months.

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  • Taiwan’s O’right makes Japanese start

    Taiwan’s O’right makes Japanese start

    Taiwanese beauty brand O’right is to make its debut in Japan this week. O’right’s first store will open in Isetan Shinjuku on June 10, followed by a second store in Yurakucho Marui the next day.

    “It shows the brand’s confidence in Japan’s path to economic recovery and its determination to establish a foothold in the Japanese beauty market,” the company said in a statement.

    The O’right Japan stores will feature a wide range of plant-based products, including the brand’s limited edition Caffeine Botanical Scalp Revitalizer. As the Tokyo 2021 Olympics Games’ key theme is sustainability, the zero-carbon beauty brand sees a timely opportunity to introduce its products in the Japanese market.

    During the openings, customers will be given gifts including high-quality hydrating hand sanitizer and exclusive discounts.

    Founded in 2006 as a hair-care brand, O’right has evolved into a “green-style” beauty brand, aiming to redefine the beauty market by introducing zero-carbon, sustainable products that “deliver on a promise of a greener tomorrow”.

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  • No surprise as retail sales in Hong Kong down again

    No surprise as retail sales in Hong Kong down again

    Retail sales in Hong Kong have plunged by more than one-third over the first four months of this year.

    Census and Statistics Department figures show a 36.1-per-cent decline, which follows an adjusted 42.1-per-cent fall in March.

    Those two months represent the beginning of the real impact of the Covid-19 pandemic which has seen the border with Mainland China effectively closed down and starving the territory’s retailers of traditional sales to inbound tourists.

    A government spokesman said that April’s decline, while narrower than that of March, was still “huge”.

    “While the epidemic has abated in Hong Kong, the business environment for retail trade remains challenging, as Covid-19 has brought inbound tourism to a standstill, and as austere labor market conditions and various uncertainties continue to weigh on consumer sentiment.”

    Retailers received little relief in May as when local social-distancing measures were relaxed, social unrest recommenced, leading to stores being shut in the popular Causeway Bay district, with some, including I.T Group-owned premises, vandalized. Retail sales in Hong Kong are unlikely to show any lasting recovery until much later this year when the border reopens and international travel resumes.

    Broken down by category, the April data made for grim reading. Watches, clocks and jewelry sales were down a massive 76.6 percent on April last year. Apparel sales slumped 63.6 percent, cosmetics and medicines were down 62.9 percent and footwear and accessories fell by 55.6 percent.

    Optical shop sales fell by 43.2 percent, sales of books, stationery and newspapers fell by 39.9 percent, of Chinese drugs and herbs by 35.3 percent and of electrical goods and electronics by 21.7 percent.

    Department-store sales were down by 18 percent, and of food, liquor and tobacco by 14 percent.

    Just two categories posted growth: supermarket sales up by 14.4 percent and furniture and fittings by 1.6 percent.

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  • Bulgari E-commerce platform launched in Singapore

    Bulgari E-commerce platform launched in Singapore

    Italian jewelry firm Bulgari has launched an e-commerce platform in Singapore prior to opening online services in its home territory. Korea will soon follow.

    The luxury brand is accelerating its digital program following the effect of the coronavirus pandemic on the industry, placing restrictions on the ability of shoppers to visit physical stores. It is planning to launch new online boutiques in seven countries over the next 90 days, beginning with the Singapore shop going live yesterday.

    The store features an AR function allowing shoppers to view products as they would appear in the real-world environment, as well as e-concierges and home delivery services.

    “E-commerce must be an engaging and exclusive 360-degree experience, offering the same service of excellence delivered in a Bulgari boutique,” said Bulgari CEO Jean-Christophe Babin.

    “Not to mention the complementarity of the website with the boutiques in terms of content and information.

    “With Covid-19, our e-shop has become our number-one store worldwide with a growth exceeding 100 percent and we believe it will reinforce its leading position after Covid-19, as it has been an accelerating factor.”

    Bulgari’s next e-shops are expected to launch in the UAE, Italy, France, Korea, Mexico and Brazil.

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  • YouTube Music gets improved, easier to explore library on Android

    YouTube Music gets improved, easier to explore library on Android

    YouTube is making changes to its Music app that will make it easier for users to explore some of its features. YouTube Music’s changed library design was first spotted early this month by AndroidPolice, but it was only available to a limited number of Android users.

    The most important improvement is the ability to add songs and albums to your library without having to manually subscribe to the artist. An “Add to Library” option will now appear in the new menu, which will allow you to add albums and songs directly to your library, a couple of screenshots posted on Reddit suggest.

    The organization of the library has been changed too, so now the most important things like artists and songs are front and center. The previous version of the library displayed recent items and shortcuts to downloads and playlists. You had to scroll at the bottom of the list to actually find songs and artists.

    Unfortunately, the update that’s not rolling out to Android devices doesn’t include the new player UI and the Explore tab that YouTube Music announced last week. Another update will most likely enable those new features in the near future.

  • Estee Lauder declares strong growth across Asia

    Estee Lauder declares strong growth across Asia

    Estee Lauder has reported “strong double-digit sales growth” in nearly every Asia-Pacific market in the latest quarter.

    Globally, the company achieved sales of US4.62 billion in the three months to December 31, up by 15 percent year on year, but in Asia especially the cosmetics giant thrived.

    “Greater China delivered strong double-digit net sales growth,” the company said in a statement.

    “Growth accelerated on the mainland, reflecting, in part, an outstanding performance related to Singles Day and other events. Net sales in Hong Kong declined as a result of the ongoing events impacting key shopping areas.”

    The company said emerging markets in Southeast Asia also delivered strong growth.

    “Among developed markets, South Korea rose in double digits and both Japan and Australia grew solidly in constant currency.”

    Online sales more than doubled in the region.

    Estee Lauder reported net earnings of $557 million, down from $573 million last year.

    “We delivered superb results in our second quarter, leading to an excellent first half,” said Fabrizio Freda, president and CEO. “Our multiple engines of growth generated broad-based gains across all our regions and major categories, as our prestige brand portfolio was well received by global consumers during the Singles Day event and holiday season.

    “Our sales growth came from all facets of our business, including the Asia/Pacific region, the skincare and fragrance categories, the online and travel retail channels, and the Estee Lauder, La Mer and luxury fragrance brands. Our emerging markets continued to be vibrant and we made progress towards the stabilization of our North American business despite continued softness in the makeup category. Additionally, we completed the acquisition of the Korean-based Dr Jart+ brand at the end of the quarter, which strengthens our position in global skincare.”

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  • Japanese drug stores Matsumotokiyoshi and Cocokara Fine joined forces

    Japanese drug stores Matsumotokiyoshi and Cocokara Fine joined forces

    Japanese pharmacy chains Matsumotokiyoshi and Cocokara Fine are entering into a merger.

    Under the terms of the new agreement – if approved by the boards of both sides – shares in the two firms will be transferred to a new business entity, with the transaction expected to be completed by October next year

    The company that emerges from the new deal will lead the health and beauty market, with 3000 outlets trading at around ¥1 trillion (US$9.2 billion).

    Cocokara was previously courted for a merger by Sugi Holdings, although the firm ultimately decided to partner with Matsumotokiyoshi.

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  • Hong Kong’s CitySuper evaluating sale options

    Hong Kong’s CitySuper evaluating sale options

    Hong Kong-based firm The Fenix Group may sell its majority shareholding in high-end supermarket operator Hong Kong’s CitySuper Group.

    According to Bloomberg, if potential buyers show interest in the stake, it may be worth between US$300 and $400 million.

    Any potential purchaser at this time will inherit a business in the midst of Hong Kong’s first depression in a decade, and with significant financial stimulus policies expected of the current administration. That said, the supermarket sector has been relatively unscathed by the decline in retail sales since protests began back in June.

    Fenix provided the original funding for the group and may yet decide to retain ownership of the business.

    Hong Kong’s CitySuper Group operates in Hong Kong, Shanghai and Taiwan across three brands, the most well-known its own name.

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  • AirAsia picks creative agency in India

    AirAsia picks creative agency in India

    AirAsia India has appointed Wunderman Thompson South Asia to manage creative duties following a pitch in 2019. The agency will be responsible for brand strategy and shaping the communications narrative in India, taking care of above-the-line and digital creative mandates.

    According to the press statement, Wunderman Thompson understood AirAsia India’s strategic and brand objectives and will be working on developing the brand’s strong and sustainable positioning that will cut across geographies, demographics, and mindsets and deliver differentiated content with incisive insights. A+M has reached out to Wunderman Thompson for additional information.

    AirAsia India is a joint venture between Tata Sons and AirAsia Investment. AirAsia India commenced operations on 12 June 2014 with Bengaluru as its primary hub. Its agenda is to drive salience across markets with customized content and clutter-breaking communication that inspires diverse audiences with its brand promise and the aspirational journey ahead.

    AirAsia India’s CMO Siddhartha Butalia said the agency approached the opportunity with strong strategic insights and compelling creative ideas that bring the emotion and inspiration back to travel. “We’re looking forward to partnering with them to drive consideration and relevance across the customer journey, take off to even greater heights and explore new territories,” Butalia added.

    Senior VP and managing partner at Wunderman Thompson, Kundan Joshee, said AirAsia has a unique value proposition and a distinct challenger brand spirit that makes it such a powerful brand.

    “Our job is to partner with AirAsia and bring alive its philosophy of service, efficiency and innovation. In today’s times, it’s essential for a brand to have multiple conversations with people across touchpoints and this gives us the opportunity to do new-age work and drive interesting conversations around the brand,” he said.

    Closer to home, AirAsia Group and Universal Music Group partnered last year to launch RedRecords, a new label partnership focused on signing, developing and breaking new Asian artists and elevating “A-pop” globally to new audiences throughout the region and around the world. RedRecords will focus on discovering and developing talent from Southeast Asia and throughout the wider continent and form a clear and unique sound that reflects the diverse and rich musical culture of the continent.

    The airline also announced last November that it is expanding its online offering to include flights on other airlines as it transforms airasia.com into Asia Pacific’s leading travel and lifestyle platform. This was done in partnership with leading travel technology company Kiwi.com. It also unveiled SNAP, a new name for flight + hotel packages on airasia.com offering the lowest guaranteed package prices in 2019.

  • Muji launching in Vietnam

    Muji launching in Vietnam

    The first Muji Vietnam store is set to open within three months, a year after the Japanese household goods and apparel chain established an office in the country.

    As we reported last February, Muji Vietnam Ltd was registered and headquartered in Ho Chi Minh City.

    According to a source from property company Savills, the new Muji store will open in the city’s commercial center, occupying a 3900sqm space. Muji Vietnam will feature clothing, stationery, homewares, skincare products and other goods.

    The store’s location and exact opening date have yet to be disclosed.

    Besides Muji, other international brands including sports-goods retailer JD, fashion label Champion, cosmetics chain Sephora, food chains Hawker Chan and Din Tai Fung and K-pop merchandise retailer SM Entertainment are also expected to enter Vietnam this year.