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  • Sea Limited Triumphs with Shopee Revenue Skyrocketing 50% in Q2

    Sea Limited Triumphs with Shopee Revenue Skyrocketing 50% in Q2

    Sea Limited, a Singaporean company, experienced robust sales and profit growth during the second quarter of this year. The growth was fuelled by a strong performance across the company’s three main divisions.

    The company, which is listed in the US, reported a revenue increase of 48.1 percent, bringing it to a total of $7.8 billion for the quarter ending June 30. The gross profit saw a parallel rise, soaring 47.3 percent to reach $3.5 billion. The net income also exhibited growth, registering a 10.6 percent increase to $458.1 million.

    Divisional Performance and Future Outlook

    Shopee, one of Sea Limited’s consumer platforms, reported a revenue rise of 48.2 percent, bringing its total to $5.6 billion. The core marketplace revenue, which primarily comprises transaction-based fees and advertising revenues, also saw a significant increase of 65.6 percent. The gross orders for the quarter rose by 27 percent to 4.2 billion, with the gross merchandise value increasing by 28.4 percent.

    Sea Limited’s financial services division, Monee, also witnessed remarkable growth with a 58.9 percent sales increase, which amounts to $1.4 billion in revenue. In the online gaming sector, Garena, another division of Sea Limited, rose by 33.5 percent, bringing its revenue to $746.6 million.

    According to Sea’s chairman and CEO, Forrest Li, the strong momentum from the first quarter was carried forward into the second quarter. Li is optimistic about the future, stating that due to the improving operational efficiency and growing scale, Shopee is projected to achieve an adjusted EBITDA of $1 billion for the full year.

    Questions & Answers

    What was the percentage increase in Sea Limited’s revenue for the second quarter?
    Sea Limited’s revenue increased by 48.1 percent in the second quarter of this year.

    What is the projected adjusted EBITDA for Shopee for the full year?
    Shopee is projected to achieve an adjusted EBITDA of $1 billion for the full year.

    What was the percentage increase in sales for the financial services division, Monee?
    Monee witnessed a 58.9 percent increase in sales during the second quarter.

  • Sunshine Bakeries Unveils Limited Edition Musang King Durian Milk Bun: A Taste of Premium Durian Season in Every Bite!

    Sunshine Bakeries Unveils Limited Edition Musang King Durian Milk Bun: A Taste of Premium Durian Season in Every Bite!

    Sunshine Bakeries, a renowned bread manufacturer from Singapore, is gearing up to introduce its Musang King durian milk buns to the market on March 20, just before the onset of the durian season. The new delicacy will be available across leading supermarkets and convenience stores in Singapore, promising a unique flavor fusion for food connoisseurs.

    Features of the New Snack

    The Musang King durian milk bun boasts of authentic Musang King durian filing, derived from the scarce early-March harvest. The durian filing is beautifully complemented by Sunshine Bakeries’ famed Hokkaido Milk bun, offering a blend that is expected to win the hearts of durian lovers.

    The company has priced the bun at SGD2.50 (US$1.97). However, it’s important to note that the product will be available in limited quantities each day, considering the restricted availability of early-season yields.

    A Taste of the Season’s First Harvest

    Michelle Ang, chief marketing officer at Sunshine Bakeries, expressed her excitement about the product launch. She said, “Durian fans have a year-long desire for the fruit. By introducing the Musang King Durian Milk Bun, we aim to offer them a sneak peek into the first harvest of the season.”

    According to the company, the bun promises the highest standard of durian indulgence that is rich, custard-like, and aromatic.

    About Musang King Durian

    Musang King is a top-tier variety of durian, predominantly cultivated in Malaysia. It has gained considerable recognition this year, having been included in the list of the 25 best-rated fruits in Southeast Asia. The selection was made based on votes cast by readers of an international food magazine in February.

    Questions & Answers

    When will Sunshine Bakeries start selling the Musang King durian milk buns?
    The Musang King durian milk buns will be available from March 20.

    Where can customers purchase the Musang King durian milk buns in Singapore?
    The new snack will be available across leading supermarkets and convenience stores in Singapore.

    What is special about the Musang King durian milk bun?
    The bun features authentic Musang King durian filling derived from the early-March harvest, paired with Sunshine Bakeries’ signature Hokkaido Milk bun. The company promises a rich, custard-like, and aromatic indulgence with this new product.

  • Savor the Flavor: Gelatissimo and Pistachio Papi Unveil Limited Edition Gelato Twists

    Savor the Flavor: Gelatissimo and Pistachio Papi Unveil Limited Edition Gelato Twists

    Gelatissimo, the popular gelato brand, has joined forces with Pistachio Papi, a renowned pistachio spread manufacturer, to launch two unique, limited-edition gelato flavours for their customers across the country.

    Pistachio Papi’s Unique Flavours

    This collaboration brings forth Pistachio Papi White Chocolate and Pistachio Papi Raspberry Cheesecake, two distinctive flavours which will be available for a limited period at all 57 Gelatissimo outlets nationwide.

    The Pistachio Papi White Chocolate flavour is a unique blend of pistachio and salted white chocolate gelato, enriched with roasted pistachios and a layer of Pistachio Papi spread. This combination offers a delightful fusion of creamy sweetness and the distinctive crunch of pistachios.

    On the other hand, the Pistachio Papi Raspberry Cheesecake features a delicious raspberry cheesecake gelato, complemented by an oat crumble and pistachio spread. The result is a textured, nutty finish that delivers a unique taste experience.

    Striving for Bold Flavours

    Gelatissimo is well-known for its dedicated team of flavour enthusiasts, who are continuously exploring new possibilities to bring innovative gelato experiences to Australian consumers. According to Jeremy Roth, CEO of Gelatissimo, partnering with Pistachio Papi was an ideal opportunity to create something unique and exciting.

    Moreover, Gelatissimo made significant strides in 2022 by venturing into the Fast-Moving Consumer Goods (FMCG) sector. They made their FMCG debut by launching five of their top-selling flavours in tubs at Coles supermarkets throughout the country.

    Questions & Answers

    What unique flavours has Gelatissimo introduced in their recent collaboration with Pistachio Papi?
    Gelatissimo, in collaboration with Pistachio Papi, has introduced Pistachio Papi White Chocolate and Pistachio Papi Raspberry Cheesecake.

    What is unique about the Pistachio Papi White Chocolate flavour?
    The Pistachio Papi White Chocolate flavour is a unique blend of pistachio and salted white chocolate gelato, enriched with roasted pistachios and a layer of Pistachio Papi spread.

    What are some of the recent achievements of Gelatissimo in 2022?
    In 2022, Gelatissimo ventured into the Fast-Moving Consumer Goods (FMCG) sector by launching five of their top-selling flavours in tubs at Coles supermarkets throughout the country.

  • Louis Vuitton inks multi-year marketing deal with NBA

    Louis Vuitton inks multi-year marketing deal with NBA

    French luxury house Louis Vuitton has inked a multi-year marketing deal with the National Basketball Association (NBA), which includes the crafting of the first LVMH official trophy travel case for the US sports organization.

    The deal will also see Louis Vuitton create an annual limited-edition capsule collection, with details to be announced at a later date, the NBA announced.

    The trophy case, hand-crafted in Louis Vuitton’s historic Asnières workshop on the outskirts of Paris, is coated in the House’s emblematic monogram canvas and fitted with traditional brass fixtures.

    It will house and display The Larry O’Brien Trophy that is presented annually in June to the NBA team that wins the finals.

    According to Michael Burke, Louis Vuitton chairman and CEO, Louis Vuitton and the NBA are both icons and leaders in their respective fields, and the joining of the two promises exciting and surprising moments, forging historic memories together.

    Mark Tatum, NBA deputy commissioner and chief operating officer, said the partnership with Louis Vuitton creates a natural synergy with the NBA.

    “The tradition, heritage and identity of Louis Vuitton create a natural synergy with the NBA, and this partnership provides a unique and befitting way to showcase our championship trophy to our fans around the world,” Tatum said.

    The NBA and LVMH did not disclose any financial details or clarify as to how many years the partnership would last.

    The NBA has previously partnered with Swiss watch brand Tissot and ExxonMobil.

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