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Tag: lifestyle

  • Starbucks China unveils new third-place experience concept

    Starbucks China unveils new third-place experience concept

    Starbucks today unveiled its first Starbucks Reserve® Bakery Cafe, featuring fresh Italian Princi food, in China. This brand new third-place (in-store) experience is dedicated to the premium Starbucks Reserve® coffees served alongside artisanal and made-to-order food prepared by Princi bakers onsite every day.

    Each baker has been meticulously trained in the acclaimed Italian baker Rocco Princi’s distinctive method of artisanal craft of baking to perfect the recipes for each food item. The cafe also features an expanded menu of Starbucks signature Mixology, including distinctive coffee and tea-inspired cocktails, Italian classics like Aperol Spritz, fine Italian wines and beers.

    This will be the first-of-its-kind Italian Aperitivo experience (early evening social cocktails paired with small bites) in a Starbucks store location within China.

    “For 20 years, Starbucks has revolutionized, and set new standards, around the third-place for our Chinese customers. Today marks yet another significant milestone as we take everything we have learned around coffee and our relentless pursuit for food innovation, to create a new exciting all-day cafe dining and Italian Aperitivo experience,” said Belinda Wong, ceo, Starbucks China. “Our ability to consistently elevate the customer and brand experience in a meaningful and respectful manner truly reflects Starbucks unmatched energy and operational capabilities to execute against our Purpose-driven Growth Agenda to play the long game in China.”

    As a showcase of Starbucks undisputed coffee leadership in China, the cafe features Starbucks ReserveTM Princi™ Blend as the signature coffee offering for its handcrafted espresso beverages made using the Black-eagle Espresso Machine. This special Reserve blend can also be enjoyed freshly-brewed using the Siphon brewer, Pour-over or Starbucks Draft Nitro.

    Authentic, freshly prepared food is the centerpiece that creates the vibrancy and intimacy within the cafe. Customers can share meals with family and friends at the large community table just feet away from the baking oven and the bountiful display of food creations.

    Inspired by the passion and romance of Rocco Princi’s belief to infuse ‘Spirito di MilanoTM’ into this new retail environment, the coffee theatre transforms into a full mixology bar to offer Starbucks-distinctive coffee or tea-infused craft cocktails, beers, and a fine selection of Italian classics and wines specially curated by Rocco Princi, as the day turns into evening.

    Each day from 5 pm to 7 pm, the store celebrates “Aperitivo Time” where customers can enjoy handcrafted cocktails, wine and beer with free-flow of pizza bites, green olives, and schiacciatine.

    They can choose to enjoy this unique Italian evening social occasion by relaxing at the cafe’s outdoor patio with friends and loved ones, just like Italians would across the streets of Milan.

    “I am excited to work with my Princi partners, and Starbucks, to unlock the infinite possibilities of Princi food elevating every daypart for our Chinese customers, from breakfast, lunch, to the new evening Aperitivo experience. This exceptional opportunity to pair Starbucks Reserve coffees with Princi’s 30-year heritage of serving only the freshest and artisanal food, in a brand new store format, is another dream come true for me,” said Rocco Princi.

    With more than 3700 stores in 158 cities, no other coffee retailer in China has the depth of Starbucks coffee expertise, strength of the most sought-after world-class retail locations, and pipeline of meaningful innovations to elevate the customer experience.

    Building on the overwhelming positive reception of freshly baked Italian PrinciTM food at the Shanghai Roastery, and the continued enthusiasm customers have towards Starbucks portfolio of innovative store concepts, the Starbucks Reserve® Bakery Cafe is yet another reflection of Starbucks holistic approach to build an exceptional third-place experience, further cementing its unparalleled leadership and success in China.

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  • Taubman Sells Shares of Three Asian Shopping Centers

    Taubman Sells Shares of Three Asian Shopping Centers

    US retail property specialist Taubman Centers is to sell a 50 per cent stake in three of its shopping centres in China and Korea to funds managed by private equity company Blackstone Group. The deal, worth US$480-million, is expected to be settled later this year and will net Taubman about $315 million according to financial news reports. The company will maintain a share of up to 25 per cent in each property.

    Post settlement, Taubman will be contracted for the ongoing management of the centres.

    The centres are South Korea’s Starfield Hanam, and China’s CityOn Xi’an and CityOn Zhengzhou.

    Taubman manages a 26 regional, super-regional and outlet shopping centres in the US and Asia, and has another property under development. CEO Robert S Taubman said the sale was part of a strategy of recycling capital for growth.

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  • Furniture maker in Vietnam to meet younger customer taste

    Furniture maker in Vietnam to meet younger customer taste

    Furniture manufacturers are striving to meet the changing tastes of young people, who have begun to value eco-friendliness and aesthetics. Nguyen Chanh Phuong, vice president and general secretary of the Ho Chi Minh City Fine Arts and Wood Processing Association (HAWA), said the furniture segment for small urban houses is abuzz in Vietnam, with its main customers being young adults born between 1980 and 2000.

    Unlike the previous generation, who preferred simple but durable furniture that could last 100 years, young people prefer to buy comprehensive interior packages based on their own aesthetic views, he explained.

    They see furniture as things that serve their needs and not assets to be passed down, and so products only need to last about 10 years, he said, pointing out this was why furniture makers like IKEA have been so successful.

    “There is a lot of opportunity arising from this group of customers alone. I estimate they only account for 15 percent in terms of number of buyers but account for 30-40 percent of spending.”

    Industry insiders said the market is seeing rapid growth in raw materials production, design and manufacture of furniture, and one can now find all types of international “fashionable” wood varieties from Germany, the U.S., France, Japan, Canada, and New Zealand.

    Vietnam’s furniture market was worth $4 billion in 2018, and is expected to grow to $5-7 billion by 2025, according to the Handicraft And Wood Industry Association of HCMC.

    Nguyen Quoc Khanh, HAWA chairman, said not only is the scale growing but also Vietnamese are increasingly demanding higher quality products.

    “I think ‘strong and durable’ is not the Vietnamese style; it was a need at a difficult time. Life is much better now, so people are allowed to express themselves.

    “The only regret is that the market has not yet created the necessary ecosystem for the business of interior design. That is, furniture manufacturers have not been able to work with designers and real estate companies to completely meet users’ needs.”

    Foreign home interior brands and designers are present in force and dominating the increasingly affluent market.

    According to the Vietnam Chamber of Commerce and Industry (VCCI), some 80 percent of luxury woodwork and interior decoration items is imported from Europe, with local players accounting for the rest.

  • Deliveroo celebrates the Chinese New Year with elderly people

    Deliveroo celebrates the Chinese New Year with elderly people

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

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

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

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

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

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

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

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

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

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  • The Macallan releases the first annual limited edition

    The Macallan releases the first annual limited edition

    The first in an annual, limited edition series, The Macallan Concept Number 1 was inspired by the whimsical world of surreal art, and celebrates world’s visionaries by daring to disrupt the whiskey making process. Following its Asia debut on 1st January 2019 in Singapore’s Changi International Airport, The Macallan Concept Number 1 will be made available in Hong Kong Hong Kong International Airport starting from 1st February 2019. Bringing together imagination and idealism to create a fantastical, sensorial world of whisky where anything and everything is possible, the label and packaging of The Macallan Concept Number 1 features a surrealistic interpretation of The Macallan’s Six Pillars -– the spiritual home, curiously small stills, the finest cut, exceptional oak casks, natural colour and peerless spirit.

    Created from whiskies matured first in sherry-seasoned oak casks and subsequently for an equal amount of time in ex-bourbon casks, The Macallan Concept Number 1 is a whisky crafted to explore maturation more imaginatively. Displaying characteristic notes of citrus fruits and ginger, it is a spirit that combines an unwavering passion for whisky with an unfailing mastery driven by bold and brave choices.

    Commenting on the uniqueness of this series, Macallan Master Distiller, Nick Savage says, “The Macallan Concept Number 1 is whisky reimagined, offering a compelling new sensory experience that rewards with every sip. The innovative process developed to produce this remarkable single malt pays tribute to the visionaries of the surreal art world and reflects our continuous search for excellence.”

    Adding further, Igor Boyadjian, Edrington Global Travel Retail Director, emphasises, “We’re proud to unveil the first release in The Macallan’s latest innovative travel retail-exclusive product range. By “breaking the norm”, The Macallan Concept Number 1 reinforces our commitment to offering exciting products to travellers and we’re confident this fresh innovation will prove attractive to travellers and collectors alike.”

    The Macallan Concept Number 1 is now available exclusively in Hong Kong, via duty free stores in Hong Kong International Airport, and in selected airports throughout Asia Pacific from February 2019 onwards.

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  • BA&SH expects to quadruple sales in Greater China

    BA&SH expects to quadruple sales in Greater China

    Affordable luxury brand BA&SH has marked the second anniversary of its launch in Asia by revealing plans to quadruple its sales in the region within two years and introduce a new store concept. Last year the company opened seven stores in Mainland China, three in Hong Kong and two in Macau, taking its Greater China footprint to 20 points of sale.

    “We are thrilled about Hong Kong hitting the podium already and convinced China has the potential to drive the brand’s growth in a near future,” says Isolde Andouard, BA&SH’s CEO for Apac.

    “Asian market accounts for 6 per cent of our global sales as of today and we are targeting to reach 17 per cent by 2020. We forecast to multiply our turnover fourfold within the next two years,” she said.

    Stores in Hong Kong and Mainland China achieved profitability after just three months of operation, allowing the brand to build a regional store pool contributing significantly to global results.

    BA&SH unveiled a new store concept in the US last September, located in New York City’s Nolita neighbourhood, a store designed around themes of friendship and customer experience.

    “We chose New York to test the water with this new concept as this retailtainment experience must be combined with a heavy digital approach and US is clearly ahead of time on this,” says the company’s global CEO Pierre Arnaud Grenade.

    “As the US and Asia are our two strongest focuses for the time being, Hong Kong will definitely be the second city to inaugurate this model.”

    Sustained investments from LVMH-sponsored L Catterton have been supporting BA&SH’s strong growth over the past years and a strong emphasis on Greater China was seen as critical to the brand’s globalisation.

    Hong Kong stores, the first of which opened almost two years ago, now rank within BA&SH’s top five worldwide in turnover. Andouard says that proves the BA&SH concept is a great fit for Asia, with the Hong Kong stores recording average like-for-like sales growth of more than 40 per cent year on year. Some stores in Greater China doubled their sales year on year.

    BA&SH has focused on opening boutiques in premium locations and already counts most of the city’s major retail property owners among their landlords – including Swire, Sun Hung Kai, Sands, Wharf, China Resources and Value Retail.

    “We didn’t bet on such a warm welcome from the local operators, because BA&SH is quite a new concept to Asia,” says Laura Marquant, strategy & development director Apac. “Yet we see the market is becoming more mature and is looking for the freshness BA&SH is offering.”

    E-commerce focus

    Meanwhile, on the strength of the Greater China success, BA&SH has expanded its reach online through Alibaba, opening a flagship on Tmall last June, less than a year after the brand launched in Mainland China.

    “As far as digital is concerned, New Retail and omnichannel are more than ever on the table, and the redesign of the brand’s Hong Kong website with new features and tools are the next steps to come,” says Andouard.

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  • Lifestyle deploys new retail technologies

    Lifestyle deploys new retail technologies

    A part of Dubai-based retail and hospitality conglomerate Landmark Group, Lifestyle has been enhancing its Omnichannel experience for its customers at a very fast pace in the recent years. With 75 stores at present, Lifestyle is now also available online through www.lifestylestores.com where customers can shop from the convenience of their home.

    Offering men’s, women’s and kids’ apparel, footwear, handbags, fashion accessories, beauty products and much more, all under the same roof, the fashion retailer has added features such as ‘Self-Checkout Kiosk’, ‘Mobile POS’, Fitting Room Assistance’, etc., to augment its in-store experience.

    “Lifestyle has always endeavored to provide its customers the best-in-class shopping experience. With technological advancements, the shopping experience has evolved and we, as a progressive retailer, have embraced many of these technological advancements to further enhance the shopping experience we off er our customers,” says Vasanth Kumar, Managing Director, Lifestyle International.

    New Tech-Advancements

    Lifestyle has introduced ‘Self- Checkout Kiosk’ in a few key stores, a facility that allows customers to bill their merchandise and complete the payment transaction in a few simple steps on their own with no or very little intervention from the staff thereby greatly solving the long queue by enabling quicker checkouts. Another initiative to further ease checkouts is the ‘Mobile POS’, which was introduced for billing products such as watches, fragrances or cosmetics.

    Using insights from customer shopping behavior, the retailer has also launched ‘Fitting Room Assistance’ program that allows for size retrieval with the help of technology where the store assistants are alerted on the size and style required in the fitting room. “This initiative has helped in enhancing our conversions and is now being scaled up across key stores,” Kumar says.

    “Several of our initiatives are technological solutions to real customer problems which we discovered through our interaction with customers as well as staff . Using this feedback, we have created simple yet impactful solutions leveraging technology. These have led to positive impact on our overall customer experience and helped increase engagement with the brand,” he further adds.

    At the same time, with features like ‘Click & Collect’ and ‘In-store Endless Aisle’, Lifestyle is offering a true Omnichannel experience to its customers. An Omnichannel initiative, ‘Click & Collect’ allows customers to order online and collect merchandise from a Lifestyle store of their choice. ‘In-store Endless Aisle’ helps customers find missing in-store sizes on the e-commerce channel. Also, the retailer has introduced visual search and enabled voice-based search for its mobile applications which has helped in creating a more personalised and convenient shopping experience. Lifestyle has also implemented the ‘Put-to-Light’ system for effective storing and distribution at its warehouses. It has enabled single view of inventory for its e-commerce portal, www.lifestylestores.com, making the entire inventory across all warehouses accessible to the online customers thereby enhancing the merchandise availability and online conversion.

    “We are continuously evolving our stores with new technologies. To fully enable our customers to enjoy these new introductions, it is important for our sales personnel to understand, communicate and comfortably operate all new innovations. Before implementing any new technology or introducing product innovation, our entire store team goes through an extensive knowledge session, which enables them to understand the product/technology being introduced,” says Kumar.

    Lifestyle regularly tracks consumer satisfaction through NPS (Net Promoter Score) in store, by the virtue of offering, staff interactions, store ambience and consistently deliver an overall delightful shopping experience thereby winning customer trust and loyalty.

  • Wholesale apparel portal Joor eyes Asia as its gets $16 million

    Wholesale apparel portal Joor eyes Asia as its gets $16 million

    US wholesale platform and data exchange Joor has raised US$16 million in Series C funding. The financing round was led by Itouchu, one of Japan’s leading conglomerates with participation from existing investors Canaan Partners and Battery Ventures. Joor has now raised $36 million since its launch and the new cash will fund ongoing product innovation for both brands and retailers, as well as expansion into Asia.

    Through the partnership with Itouchu, Joor will be able to access more than 150 US and European brands, and accelerate the entry of new overseas brands into Japan.

    “Joor’s dominance in North America and Europe makes it the natural choice for expansion into the Japanese market. We are excited to continue supporting their strategic growth,” said Yoshihiro Fukushima, executive officer of Itochu.

    “At Joor, our focus from day one has been the simplification of the wholesale process for brands and retailers,” said Kristin Savilia, CEO of Joor. “Our mission is to bring the industry together with one platform. The team at Itouchu supports this mission and we are excited to have its expertise and support to enable Joor to expand into Asia, furthering its global dominance.”

    Joor connects 8600 brands within 53 categories and 200,000 retailers in 144 countries into one wholesale platform.

    Luxury companies including Kering, LVMH, Richemont, Balenciaga, Alexander McQueen, Saint Laurent and Marc Jacobs have moved their wholesale business exclusively to the platform.

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  • Vietnamese women up makeup spending

    Vietnamese women up makeup spending

    More Vietnamese women are wearing makeup and spending more on makeup products, a new survey finds. The survey finds that Vietnamese women spend an average of VND300,000 ($13) on makeup products a month, with those with higher incomes spending even more. This number marks an increase of 5.4 percent from VND284,000 ($12.2) in 2016, says market research firm Q&Me, which carried out the survey.

    Women with higher incomes spend more on makeup products, the survey found. Those with an income of over VND20 million ($865) spend VND442,000 ($19) per month on average, while those with less than VND10 million ($433) spend just VND215,000 ($9).

    Over half, 51 percent, of the respondents said they apply makeup at least once a week, and 30 percent said they do so every day.

    The ratio of those who do not use makeup decreased from 24 percent in 2016 to just 14 percent this year.

    Women with higher incomes make up more often, the survey found. Forty-two percent of those who make more than VND20 million ($865) a month make up every day, while only 24 percent of those who make less than VND10 million ($433) per month do so every day.

    The most popular occasion to wear makeup is for a party, 87 percent of respondents said, followed by hanging out with friends (61 percent) and dating (52 percent).

    Skincare is the most used makeup product, with 73 percent of respondents saying they use it at least once a week.

    Lipstick is the most popular makeup item, carried by 88 percent of respondents whenever they go out of their homes.

    The time taken to make up has increased in recent years, the survey found. The ratio of respondents who make up in 10 minutes or less dropped from 51 percent in 2016 to 33 percent this year, while the percentage of those who take 11-30 minutes increased from 48 percent to 62 percent.

    Online shopping is the most popular way to buy makeup products, with 57 percent of respondents choosing this option, of whom 39 percent said they shop online every month.

    The main reason they shop online is convenience, 44 percent of respondents said, followed by better quality (43 percent) and good price (40 percent).

    The most frequent online shoppers of makeup products are women aged 23-29 with monthly incomes of over VND20 million ($865).

    Shopee as the most popular online shopping service, with 59 percent of respondents saying they have used it before, followed by Lazada (43 percent) and Facebook (40 percent).

    The survey polled 500 women aged 16-39 in Hanoi, Ho Chi Minh City and other localities.

  • Bigbasket India expands its offerings to include beauty products

    Bigbasket India expands its offerings to include beauty products

    Bigbasket has made its foray into the beauty and cosmetics category. The company is already a leader in FMCG sales, staples, and fruits and vegetables, has about 10 million subscribers, and is clocking over 1 lakh orders per day. With this new category, bigbasket has cemented its place as the one-stop-shop for all customer needs in groceries.

    The vast range of cosmetic products on the beauty store by bigbasket includes eyeliners, kajal, face creams, nail colors, lipsticks, hair colors, perfumes, deodorants, etc. which can be purchased on the website or through the app. Some of the prominent labels featured include Lakme, L’Oreal, Garnier, Elle18, Lotus Herbals, and Maybelline, among others.

    Customers can make choices based on their skin type, preferred brand, benefits, formulation, etc. There are also exciting discounts of about 25 percent to 40 percent on selected brands and products.

    Speaking about this, Seshu Tirumala, National Head, Buying and Merchandising, bigbasket, said, “bigbasket’s customers can now look forward to far larger variety in our offering with our most recent addition of beauty products. The foray into beauty and cosmetics category comes at a time when we are already growing at a frenetic pace in the market. With this category, we aim to transcend our existing customer base and take the venture a notch higher – both in terms of the customer base and revenue. We will be providing the widest range of affordable and regularly used beauty products to our customers.

    With a dominant share in the market space, bigbasket now aims to raise additional investments up to US$ 200 million over the next few months. The FMCG sales overall (food and non-food) contribute to over 50 percent of its business, another 30 percent comes from staples (including 14.5 percent from private labels) and 18 percent is from fruits and vegetables. The Alibaba-backed company expects to break even in the 10 large cities by next June and aims at becoming a billion-dollar company by the next fiscal year. The company has a presence in 25 cities and plans to launch its operations in Kochi soon.

    Recently, bigbasket acquired Pune-based RainCan and Bengaluru-based Morning Cart to deliver milk to 20,000 customers. The service has been launched in 7 cities and is expected to roll out to another three cities among the top 10 metros. The milk delivery business is expected to clock Rs 10 billion by next year.

  • SoftBank Ventures invests in Trevari, a Korean book club

    SoftBank Ventures invests in Trevari, a Korean book club

    SoftBank Ventures announced Tuesday it invested 4.5 billion won ($4 million) in Trevari, a Korean book club operator. Fast Investment, another venture capitalist firm, invested an additional 500 million won in Trevari’s first publicly-announced funding round.

    “While adults today are reading less and less, the Trevari team has proven the success of its business model through quality book clubs,” said a spokesperson from SoftBank Ventures.

    Founded in 2015, Trevari operates paid membership-based book clubs. Members can sign up to join Trevari’s 300-plus book clubs located around Seoul and meet up with fellow members every month to discuss books on topics of their preference.

    Some of the book clubs are headed by special experts in the field, including former Naver CEO Kim Sang-hun.

    As of last August, over 13,600 individuals have participated in Trevari’s book clubs.

    A four-month membership costs between 190,000 won and 290,000 won.

  • Largest Nike store planned to open in Singapore at Jewel Changi

    Largest Nike store planned to open in Singapore at Jewel Changi

    SUTL Corporation will open its eighth and largest Nike Singapore store at Jewel Changi Airport in the first half of this year. Located on the second floor, the duplex store will span more than 1000sqm, and boasts the latest and most extensive range of Nike footwear, apparel and merchandise in the city. Shoppers who visit the store can look forward to customising their Nike t-shirt and footwear purchases at the Nike By You customisation area.

    SUTL Corporation  says the store will seek to enhance shopper engagement with multiple touch points offering customers “a fully immersive Nike experience” as they walk through the store.

    “Despite the rise of e-commerce as a viable option for shoppers, we believe that brick-and-mortar spaces remain an important part of the retail landscape. Nike at Jewel Changi Airport reaffirms our confidence in this space and we look forward to strengthening our partnership with Nike on its journey to transform the sporting world,” said Arthur Tay, chairman at SUTL Corporation.

    SUTL operates in more than 18 markets across Asia-Pacific, distributing products ranging from tobacco, liquor, spirits, beer, water and wine to fragrances and cosmetics for airports and seaports in Southeast Asia and the Indian Subcontinent.

    Jewel Changi is a 10-storey mega complex that will feature gardens and attractions, retail and dining, a hotel and facilities for airport operations.

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  • India’s WoodenStreet eyes 15 stores by end of 2019

    India’s WoodenStreet eyes 15 stores by end of 2019

    In 2016, WoodenStreet entered the retail market with its first brick-and-mortar experience store in Bangalore. Established in 2015 as an online platform for quality custom furniture, WoodenStreet expanded its reach by opening 2 stores in 2017 and 9 stores in 2018, totalling to 12 experience stores. What’s next? 15 new experience stores by the end of 2019.

    Lokendra Ranawat, CEO, WoodenStreet expressed his aim to bring customization and quality a step closer to everyone’s home. “It’s not just about an online presence”, he elaborates, “but getting down there and interacting with our customers makes buying furniture a more personal experience, as it should be. We want people to not just visualize, but also feel the quality of furniture that we offer. We want them to see the limitless configurations, combinations and customization possibilities that they can actually get for themselves.”

    2018 was a long but fruitful year for WoodenStreet. Mumbai and Jaipur stores have been established in the last quarters of 2017, and the overwhelming response from these two stores, combined with a financial push from US$ 1 million Series A funding from RVCF, hardened the resolve to expand into further cities. Hence came the first stores of Ahmedabad, Hyderabad, Chennai, Pune, Noida, Gurgaon and Indore, with two more stores in Bangalore and Jaipur. This set up a large Omnichannel network, enabling greater penetration into the furniture market with a promise of quality and flexibility.

    “Last year was challenging but fun.”, says Virendra Ranawat, COO of WoodenStreet.com, commenting on the rocking journey. “But this hasn’t stopped us. We want to ensure that 2019 sees the addition of 15 more stores to our ever-growing roster. Which means that by the end of this year, we’ll have 27 brick-and-mortar stores in total.”

    WoodenStreet.com is a custom furniture store, with more than 30 delivery hubs and 12 experience stores spread across India, bringing quality solid wood furniture and the flexibility of customization closer to people and their dream of setting up a home flavoured to their tastes.

  • Alibaba Says China’s Slowdown Isn’t Hurting It All That Much

    Alibaba Says China’s Slowdown Isn’t Hurting It All That Much

    Alibaba Group VC Joseph Tsai says the firm is unperturbed by China’s economic slowdown. Quoted in a Bloomberg report, Tsai said Alibaba is “delinked” from a Chinese economy in which more and more business are moving online because “we’re in e-commerce and we’re digitising the whole sector”.

    He added that Alibaba’s growth is expected to continue to outpace the economy in general, as digital commerce grows at faster rates compared with more traditional retail business.

    The comments were made at the Goldman Sachs Group technology conference in San Francisco.

    According to the Bloomberg article, China’s economy expanded 6.4 per cent in the final three months of last year compared with a year earlier. Alibaba’s takings during the period rose 41 per cent to RMB117.3 billion (US$17.3 billion), representing its slowest pace of growth in more than two years. Its continued positive performance is buoyed by excursions into new business territories such as cloud services and entertainment, while assisting physical retailers with modernisation drives.

    According to the Alibaba Group VC, the situation is comparable to Amazon’s in terms of its consistent double-digit sales growth in the face of slowing economic growth within the US.

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

    Japanese megastore Don Quijote to open its first Hong Kong store

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

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

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

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

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

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

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