Retail News CRM

Tag: Malaysia

  • 11street launches online marketplace

    11street launches online marketplace

    The South Korean e-commerce leader 11street has opened an online marketplace in Thailand during the festive season to capitalise on rapid growth in online shopping. The wholly owned subsidiary of the mobile operator SK Telecom aims to become Thailand’s biggest e-commerce player by 2020.

    Hong Cheol-jeon, chief executive of 11street (Thailand), said he was excited about giving Thai shoppers the chance to experience the innovative platform from Korea. On its soft opening day last Weddnesday, 11street beat its target with more than 10 million baht in transactions.

    More than 600,000 customers have experienced the platform so far. The 11street platform has attracted more than 6,000 local sellers and aims to have 20,000 by the end of 2017.

    Earlier in August, the company opened its first “sellers’ campus” to train Thai entrepreneurs interested in conducting business online. The 11street platform is designed to work across different operating systems with a seamless experience from desktops to tablets and mobile devices. One feature is a Korea Street, offering products from Korea for sale in Thailand at competitive prices.

    Mr Hong said that in the digital era where data and people are connected, security is one of the most important elements for the platform developer. “Our platform is equipped with latest technology for escrow to ensure the security of online transactions,” he said. Online sales account for lees than 2% of the total retail market in Thailand, meaning there is still huge potential room for growth.

    “Compare that with South Korea where the e-commerce market is worth approximately US$47 billion, which is 18% of the $252-billion retail market,” he said.

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  • Cos Malaysia starts the journey in Pavilion

    Cos Malaysia starts the journey in Pavilion

    Fashion brand Cos Malaysia has opened its first store, at the new Pavilion Elite Mall in Kuala Lumpur.

    The brand, which is part of the Swedish H&M stable, is offering menswear and womenswear from its latest autumn/winter collection. This explores hybrid garments combining wardrobe classics with the eccentric and eclectic, featuring warm colours, organic tones and draped proportions, says Malaysian beauty and wellness website Pamper.my.

    The store’s interior reflects the Cos design aesthetic of clean lines and natural elements, and features a lounge area.

    Cos MD Marie Honda describes the inaugural Malaysian store as “an exciting stage in our expansion in Asia”.

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  • Salvatore Ferragamo changes the game in Asia

    Salvatore Ferragamo changes the game in Asia

    Italian fashion label Salvatore Ferragamo has taken over four JVs created in partnership with Trinity (Fung Group), which distributes the brand in South Korea and Southeast Asia.

    Ferragamo says it has bought the companies’ 20 per cent share, still owned by Trinity through Trinity Luxury Brands Holdings and Ferrinch. The value of the transaction has not been disclosed.

    Impacting Ferragamo Korea, Ferragamo (Malaysia), Ferragamo (Singapore) and Ferragamo (Thailand), the takeover follows an agreement signed in 2012. This included a purchasing option allowing for Salvatore Ferragamo to take full control of the JV companies.

    At the time, Ferragamo had already increased its stake in the four companies to 80 per cent.

    In the past few years, the Asia-Pacific region has become Salvatore Ferragamo’s main market, accounting for 35.5 per cent of its global revenue. At the end of September, the label’s sales in the region amounted to €360 million (US$375 million), equivalent to a 0.3 per cent decrease compared to the first nine months of the previous fiscal year.

    The label has 70 monobrand stores in the region.

  • Luk Fook Jewellery Malaysia debut

    Luk Fook Jewellery Malaysia debut

    Hong Kong luxury brand Luk Fook Jewellery has arrived in Malaysia, opening two stores – at Pavilion Elite and Suria KLCC.

    The group hosted a grand ribbon-cutting ceremony at its Pavilion Elite outlet, attended by actress Kristal Tin, Pavilion Kuala Lumpur retail CEO Joyce Yap, Hong Kong-Malaysia Business Association VP Henry Yip Choong Hung and Luk Fook Group executive director/deputy-GM Shirley Wong.

    Hosting the event was Luk Fook Group chairman/CEO Wong Wai Sheung.

    Luk Fook Jewellery first entered the Southeast Asian market in 2010 with a retail shop in Singapore. The two new outlets join its 1470 stores in the nine countries, including Australia, China, Korea, Macau and the US.

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  • Shell completes the sale of Shell Refining Company in Malaysia

    Shell completes the sale of Shell Refining Company in Malaysia

    Shell has completed the sale of its 51% shareholding in the Shell Refining Company (Federation of Malaya) Berhad (SRC) in Malaysia, which includes the 125,000 barrel per day refinery in Port Dickson, to Malaysia Hengyuan International Limited (MHIL) for $66.3 million.

    Shell is the leading retail fuels and lubricants provider in Malaysia, which remains an important market for the company. Shell will maintain supply to its retail and commercial customers, and will honour all current commercial arrangements through existing comprehensive supply agreements in the country.

    This divestment is consistent with Shell’s strategy to concentrate its global downstream operations in areas where it can be most competitive.

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  • Sunway Velocity Mall opens doors

    Sunway Velocity Mall opens doors

    Sunway Velocity Mall has opened in Cheras, with a catchment of 1.72 million residents including the nearby areas of Ampang and Kuala Lumpur.

    With a neo-futuristic appearance, the sphere-shaped shopping centre, known as the “KL Orb”, is set to be a landmark on the city’s skyline, especially with its LED light display.

    Its opening is also a milestone for the Sunway Group’s retail division. The group’s fifth mall, it integrates shopping, entertainment and gastronomy in an integrated development.

    “Sunway Velocity Mall was built and designed with one key purpose – to enrich the life experiences of its surrounding community,” says Sunway Shopping Malls & Theme Parks CEO HC Chan.

    The centre has four precincts: Vanity Hall, Marketplace, Food Street, and Commune @ Sunway Velocity. The seven-storey mall offers the first-ever Aeon MaxValu Prime in Malaysia – the third such outlet in the world following Japan and Hong Kong.

    The other two main anchors are Parkson and TGV Cinemas, which has the largest Imax screen in Malaysia. Other tenants include Chi Fitness, Grand Imperial, Harvey Norman, JD Sports, Padini Concept Store, Popular Bookstore, Toys‘R’Us and Uniqlo.

    Chan says the mall is part of the “golden triangle of retail spaces” comprising the new Ikea Cheras, Aeon Maluri Shopping Centre, MyTown Shopping Centre and the Tun Razak Exchange (TRX) Lifestyle Quarter development.

    Sunway Velocity Mall has been “dressed” for the festive season with decorations including a 30ft (9m) Christmas tree surrounded by giant presents in the main atrium. There is also a Christmas spend-and-win campaign, Santa City, which runs until February 12. Prizes include a Volvo V40 car, a Celistar diamond ring by SK Jewellery, a Hero bed frame, and a Nature’s Finest Himalaya mattress from Harvey Norman.

    There are also free weekend Christmas workshops for children.

  • AirAsia injects RM1b into Indonesia ops

    AirAsia injects RM1b into Indonesia ops

    AirAsia Bhd has injected US$227mil or RM1.01bil into its associate PT Indonesia AirAsia (IAA) to address the latter’s negative equity position.

    The low-cost carrier said  its board had approved the subscription of the US$227mil or 3.042 trillion nominal value of perpetual capital securities issued by its 49% owned Indonesian operations.

    AirAsia had on Friday entered into a perpetual security purchase agreement with IAA to formalise the issuance and terms and conditions between IAA and AirAsia for the subscription.

    To recap, on Sept 29, 2015, AirAsia had subscribed to 2.058 trillion rupiah nominal value, which was 49% of the perpetual capital securities issued by IAA.

    The move then was to comply with the directive received from the Directorate General of Civil Aviation (DGCA) of the Republic of Indonesia to resolve the negative equity position for financial year 2014.

    On May 10, 2016, the Indonesian DGCA had again instructed IAA to increase its capital to address the negative equity balance.

    Subsequently, IAA offered to issue 3.042 trillion rupiah of new perpetual capital securities to AirAsia.

    “The subscription is to enable IAA to attain positive equity position as directed by the DGCA in compliance with the directive.

    “Failure to address the capital shortfall carries the risk that the Minister of Transportation of the Republic of Indonesia would deny IAA’s requests for new route approvals or even impose a suspension of operations,” it explained.

    AirAsia said the Subscription would help reduce IAA’s gearing without any need for AirAsia to inject further funding or capital to IAA as it entailed converting the amount owed to the company into equity of IAA.

    “Indonesia is a crucial market for AirAsia. International Air Transport Association forecasted that Indonesia is expected to be the sixth largest market for air travel by 2034 with 270 million passengers.

    “The risk of suspension of IAA would not only affect the AirAsia brand but also affect the network and future growth of AirAsia Group,” it said.

    AirAsia said the perpetual capital securities carry an initial periodic distribution rate of 2% per annum for the first 12 months and subsequently 8% per annum on outstanding principal amount to the perpetual capital securities until the first call date.

    It will then be stepped up to 13% per annum on outstanding principal amount of the perpetual capital securities post the first call date thereafter.

    “Perpetual in tenure with no fixed maturity date, with IAA having a call option to redeem the perpetual capital securities at the first call date, which is at the end of the seventh year from date of issuance and on each subsequent periodic distribution date thereafter at their principal amount.

    “The periodic distribution rate will step-up by 5% if the perpetual capital securities are not redeemed at the first call date,” it added.

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  • Lazada’s 12.12 sale nets $40.5 million

    Lazada’s 12.12 sale nets $40.5 million

    Lazada Group’s Online Revolution, also known as 12.12, has again proven to be the biggest online shopping event in Southeast Asia, ringing up US$40.5 million in sales.

    About 60 per cent of the gross merchandise value (GMV) of the December 12 event came from mobile, with shoppers spending an average of 12 minutes on Lazada apps browsing deals from international and local brands and sellers.

    With the theme “Brands for All”, the 12.12 event featured more than 500,000 offers and flash sales from more than 1000 brands and 55,000 sellers. Best-sellers included shower gels and mascaras, tote bags and bracelets, vacuum cleaners and tableware, and virtual-reality headsets and speakers.

    Lazada Group CEO Maximilian Bittner says the sale has become highly anticipated among more consumers in Southeast Asia, who are no longer just from large cities, but also from small cities and rural areas.

    “This year, the difference was consumers clearly shopping for everyday products such diapers and groceries, as well as higher-value items from trusted brands.”

    Lazada has a presence in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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  • SM founder Sy receives lifetime achievement award

    SM founder Sy receives lifetime achievement award

    Enterprise Asia, a non-governmental organization based in Malaysia that organizes the Asia Pacific Entrepreneurship Awards (APEA), honored retail pioneer Henry Sy, Sr. with a Lifetime Achievement Award last Dec. 1 at a ceremony held at the Dusit Thani Manila. Sy is the first and only Filipino to receive the Lifetime Achievement Award from Enterprise Asia, which is on its third year of organizing the awards in the Philippines.

    The APEA recognizes and honors business leaders who have shown outstanding performance and tenacity in developing successful businesses within the Asian region. The awards also aim to gather leading entrepreneurs across Asia to spur greater innovation, fair practices and growth in entrepreneurship. Today, the award covers Malaysia, Indonesia, Brunei, Singapore, Hong Kong, Thailand, India, China and the Philippines.

    “On behalf of Mr. Henry Sy, Sr. and his family, we thank Enterprise Asia for this honor and prestigious Lifetime Achievement Award,” Mr. Jose T. Sio, SM Investments Corporation (SM) executive vice president and chief finance officer said. Among the notable recipients of the Lifetime Achievement Award for the past 10 years were: Yeoh Tiong Lay, the founder of YTL Corporation, the largest conglomerate in Malaysia;Teh Hong Piow, the founder of Public Bank Berhad, one of the largest banks in Malaysia; Food magnate Sam Goi, chairman of Tee Yih Jia Group of Singapore; Ciputra of PT. Ciputra Group, one of the leading property developers in Indonesia;Mokhtar Riady, founder of the Lippo Group of Indonesia; and real estate magnate Hui Wing Mau of the Shimao Group of Hong Kong to name a few.

    Sy is the founding Chairman of SM. To many, he is the Father of Philippine Retail, having successfully built SM into a dominant player in the country’s retail industry with its highly progressive and innovative approach. Like his Chinese name predicted and with his vision, passion and hard work, Mr. Sy transformed Shoemart, from a humble shoe store, into SM, now a highly recognizable brand and icon with interests and presence in retail, banking, and property development. Enterprise Asia is a non-governmental organization dedicated to recognizing entrepreneurship development across the region.

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  • CIMB launches mobile wallet app for cashless payments

    CIMB launches mobile wallet app for cashless payments

    CIMB Bank Bhd has launched a lifestyle mobile application, CIMB Pay that provides combine secure cashless payments with deals and offers.

    This enables the bank’s seven million customers to experience faster, easier and more secure payments at over 1,800 contactless terminal-enabled merchants nationwide as well as search nearby location-based real-time deals.

    Group consumer banking chief executive officer Samir Gupta said the launch of CIMB Pay further strengthens its suite of digital offering, reaffirming CIMB’s position as a customer-centric bank with cutting-edge technology in the region.

    “We are proud that CIMB Pay is the first mobile wallet app that enables consumers to not only make cashless payments, but also allows them to take advantage of lifestyle deals.

    “Combined with the ability to store cards issued by both Mastercard and Visa, CIMB Pay is the leader among similar apps,” Gupta said in a statement, adding the initiative also supports Bank Negara’s move to go cashless.

    On the app’s security features, Gupta noted that security and privacy are at the core of CIMB Pay and that all card details were tokenised with no information stored on the devices.

    “Users will also be required to authenticate transactions either using the mobile fingerprint or a six digit PIN,” he added.

    In the meantime, Gupta said more functionalities will be added onto CIMB Pay in the first quarter of 2017, including simplified online payment and express checkout solutions powered by Mastercard’s Masterpass.

    With Masterpass, shoppers will be able to use their CIMB Mastercard debit or credit card along with the shipping information saved on the mobile app to complete online transactions.

    Customers can make payments by simply tapping their phone on any contactless terminal based on Near Field Communication technology.

    The app also has an in-built notification system that alerts customers on nearby contactless terminals and flash deals.

    CIMB Pay can be downloaded on Google Play for NFC-enabled smartphones running on Android 4.4 and above.

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  • The Twee flagship in Kuala Lumpur

    The Twee flagship in Kuala Lumpur

    Korean fashion retailer The Twee will open its first Southeast Asia flagship store at the new KL Gateway Mall in Kuala Lumpur.

    Set to open on January 12, the mall is part of the KL Gateway mixed development by Suez Capital in Bangsar South, Jalan Kerinchi.

    Along the Federal Highway, it offers a net lettable area of about 400,000 sqft (37,161 sqm) across seven levels, with more than 200 retail outlets.

    Covering about 11,000 sqft, The Twee flagship will be the brand’s biggest store in Southeast Asia, says Suez Capital head of asset management Michael Chee Soon Hin.

    Launched in 2009, The Twee has 28 fashion stores as well as kiosks in major department stores across Korea as well as in Shanghai. It targets women between 19 and 25 years old.

    Chee says the mall is already 80 per cent occupied and there are hopes it will achieve full occupancy by April. Secured tenants include Cotton On, Daiso, Doutor Coffee, H&M, Home’s Harmony, Mr DIY, Times Bookstore, Village Grocer, Yamazaki Bakery and Yubiso.

    There will also be free WiFi throughout the common areas of the mall.

    “The concept of the mall is based on a street mall – you will not be bored,” says Chee. Each floor is inspired by elements from different continents, and there will be an outdoor landscaped garden where residents in the residential units above the mall can grow vegetables.

    Suez Capital has invested in an automated car-park system for shoppers. “It will be the biggest automated car park in Southeast Asia with 1230 automated parking bays as well as 900 normal parking bays,” says Chee.

    The projected footfall for KL Gateway Mall is more than 10 million annually, with about 40 per cent from LRT (light-rail transit) commuters. A 100m covered, air-conditioned bridge will link the mall to the KL Gateway-University LRT Station.

    The integrated development includes four residential towers of more than 1180 units, which will be completed next year, while two Grade-A corporate office towers are being delivered in stages.

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  • Delivery Hero takes control of Foodpanda

    Delivery Hero takes control of Foodpanda

    Control of the Foodpanda business has been sold by parent Rocket Internet, including the remaining Asian operations.

    German-based online food-ordering service Delivery Hero Holding, which is active in 33 countries, has acquired Rocket Internet-backed Emerging Markets Online Food Delivery Holding, parent of the shrinking Foodpanda business.

    Foodpanda, 49 per cent owned by Rocket Internet, has a presence in 22 countries, but shut its Indonesia business in October in the face of growing competition from app-based ride-hailing services that also offer food delivery, such as Go-Jek and Grab Bike. It has also exited Vietnam but remains operational in Singapore, Hong Kong, Thailand, Malaysia, the Philippines and Taiwan.

    In a partial share swap, the deal will see Rocket Internet’s stake in Delivery Hero increase from 30 per cent to 37.7 per cent. The sale will strengthen Delivery Hero’s global leadership position in online food ordering and delivery, with the combined group processing more than 20 million orders a month across 47 countries, says Rocket Internet.

    Bloomberg data shows that both companies together have raised more than $1.5 billion across several funding rounds with investors including Goldman Sachs and Insight Venture Partners.

    “The combination of Foodpanda and Delivery Hero, one of our most important companies, further consolidates key markets,” says Rocket Internet CEO Oliver Samwer. “Delivery Hero is also acquiring new markets.”

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  • Popular Mega bookfair draws 90,000 visitors

    Popular Mega bookfair draws 90,000 visitors

    Malaysia’s trusted bookstore, Popular, achieved its goal of inculcating love for reading to around 90,000 visitors during its 10-day long Sabah Popular Mega Bookfair 2016.

    Popular Book Co (M) Sdn Bhd senior retail manager Samantha Tai said the third edition of the event maintained the previous years momentum with visitors traveling from across the state to visit the mega bookfair.

    Tai believes this further enforces the relevance of educational materials and that parents would not be stingy when it comes to equipping their children with the necessary tools for them to be competitive in the real world.

    “I still believe parents would not ignore education,” she said on the last day of the mega bookfair at 1Borneo Hypermall yesterday.

    “When it comes to education, I don’t think, whether economy is bad or good, parents will still spend,” added Tai, reiterating the journey of knowledge is also lifelong learning experience.

    In addition, she said the Daily Specials deal, which offers exclusive large discounts on a rotation of selected items, is one of the main factors attracting visitors to the Popular Mega Bookfair 2016.

    Popular Book Co (M) Sdn Bhd senior retail manager Chin Pau Choi said the bookstore will continue to organize the event at the same location to fit in their vast array of educational materials and other related products for the large number of customers.

    “We need a big platform to do the Popular Mega Bookfair and need at least 25,000 sq feet for it,” explained Chin.

    “At the moment only 1Borneo Hypermall has the space to accomodate that need,” he added.

    Popular has around 20,000 members in the state today and will open its seventh Sabah outlet in Tawau in March 2017.

    “This is due to the good response. People in Tawau come all the way to Kota Kinabalu to purchase a lot of books from us,” said Tai.

  • Easyship raises more funding

    Easyship raises more funding

    Hong Kong logistics startup Easyship has raised an undisclosed amount of pre-series A funding from 500 Durians, a fund managed by Silicon Valley’s venture capital major 500 Startups.

    Easyship is an online platform providing crossborder logistics services for eCommerce companies, claiming to have access to more than 80 shipping companies and offering visibility on delivery time, cost breakdown, reliability and tracking.

    To date, it has raised aggregate funding estimated at US$2.5 million. The latest round will help it expand into Southeast Asia via Singapore, following the validation of its business model and building of traction in the Hong Kong market.

    Its expansion to Singapore provides strategic access to Southeast Asia and leverages off the city-state’s logistics infrastructure and networks – just as US eCommerce giant Amazon is establishing a presence there.

    The venture originates from problems with international shipping encountered by co-founders Tommaso Tamburnotti and Augustin Ceyrac when they were trying to build the crossborder business of Rocket Internet’s Lazada, as reported. At the time, Lazada was trying to attract more vendors to its platform in China and Hong Kong selling into Malaysia, Singapore, Thailand, and the Philippines.

    However, Lazada’s rapid sales growth was inhibited by a “very unstructured and fragmented” logistics industry. Easyship streamlines this process, providing an end-to-end process for packaging, labelling and tracking goods with couriers. It charges no fees for these services, with sellers paying the couriers. Revenue is generated from courier commissions.

    Easyship claims its saves its 1000-plus clients in Hong Kong up to $20,000 a month on shipping fees.

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  • Awards to recognise eCommerce merchants

    As Southeast Asia eCommerce merchants set benchmarks in a booming industry, their efforts are about to be celebrated with the launch of annual awards.

    Based in Kuala Lumpur, online shopping aggregator iPrice Group has launched the iPrice eCommerce Merchant Awards (iEMA) 2016 in partnership with eTail Asia, a service for eCommerce professionals, and Trusted Company, a review platform for eCommerce businesses in emerging markets.

    The first awards ceremony will be held in conjunction with the annual eTail Asia conference at Marina Bay Sands, Singapore, on March 8 next. The inaugural iEMA 2016 will feature country and regional winners in two categories – Most Popular eCommerce Merchant of the Year and Highest-Quality eCommerce Merchant of the Year. Merchants do not have to submit entries as all qualifying merchants are automatically enlisted.

    “Based on studies by Google and Temasek, the Southeast Asian eCommerce market is expected to see exponential growth from US$6 billion to about US$90 billion in 2025,” says iPrice Group CEO David Chmelar.

    “With new players in the eCommerce industry coming up every left, right and centre, it is imperative we highlight excellence in the sector in hopes to further inspire and encourage both existing and upcoming merchants to excel further in Southeast Asia.”

    Consumer choice

    Finalists and winners for the awards will be chosen by consumers via the iEMA 2016 microsite. People can vote only once, with January 31 the deadline.

    Meanwhile, in an effort to also recognise special initiatives by eCommerce merchants that might have escaped attention, a third category has been set up to highlight efforts by businesses that have undertaken projects to support a social or non-profit organisation. This will be judged by a panel of experts from the eCommerce sector with only one overall regional winner being chosen. The judging panel comprises Chmelar, Asia Venture Group CEO/founder Tim Marbach, Worldwide Business Research GM Danny Levy, Trusted Company co-founder/MD Frederick Krass, Google Vietnam head of marketing Anh Nguyen and 500 Startups managing partner Khailee Ng.

    Submissions for this award are being accepted from for both consumers and eCommerce merchants through the iEMA 2016 website.

    Voting is being accepted at the iEMA 2016 microsites for Hong Kong, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

    iPrice Group is a Southeast Asian metasearch engine that enables shoppers to find products, compare prices and save. It seamlessly connects them to hundreds of eCommerce merchants in the region.

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