Retail News CRM

Tag: Mall

  • Thailand’s No.1 Home Furnishings Stores Index Living Mall plans to open across Indonesian

    Thailand’s No.1 Home Furnishings Stores Index Living Mall plans to open across Indonesian

    ‘Index Living Mall’ (ILM), No.1 Home Furnishings Stores and ASEAN retailer with the highest number of branches across the country, self-owned factories, and a world class exporter, has declared the partnership with ‘CT Corp’: Indonesian’s No.1 business group in several business segment, including ‘Mega Group’ finance company, ‘CT Global Resources’, and ‘Trans Corp’ multi-entertainment complex/hotel and Transmart Retail. The first store opened at PT. Retail’s Transmart Carrefour, Cempaka Putih, Jakarta, on 2,500 sq.m. retail space.  The grand opening day was organized on  11th August 2017, under the concept of ‘The Best is Back’. Special sales promotion were offered to customers to celebrate the new branch launch. A further 4 stores shall open between September to December this year, followed by another 5-10 stores each year until 2020 with the goal to become the Top of Mind Home Furnishings Stores in Indonesia. The event has also been honored with H.E. Mr.Pitchayaphant Charnbhumidol, Ambassador of Thailand to Indonesia.

    Mr.Pisith Patamasatayasonthi, President and CEO of Index Living Mall Co.,Ltd revealed that “The trend of home furnishings products market in ASEAN region is expanding well. With key factors such as expansion of markets, income, and customer behavior. We are truly enthusiastic to study the possibility of investment opportunities as well as business strategies in each country, in order to lead us to becoming one of the largest home furnishings and accessories retail chains in ASEAN by 2020.  Recently, we have been able to partner up Index Living Mall with CT Corp which is the largest capital group in Indonesia. This move demonstrates that we are more than ready to expand our business internationally and set to become the leader in home furnishings business. So, right now we have been working hard to open the first Index Living Mall branch in Indonesia under the concept of ‘The Best is Back’ which represents our 6 key strategies and a special sales promotion offered to our new customers.  Moreover, the company plans to expand its additional 4 stores ranging in size from 1,000 sq.m. to 2,000 sq.m. by the end of 2017 and within Transmart Carrefour locations. We can expect to see as many as 5-10 stores next year and annually through 2020.  This clearly demonstrates our confidence in the strength of Index Living Mall in tens terms of brand and product under the 4 Joys concept.

    Mr.Ekaridhi Patamasatayasonthi, Director International Business Development of Index Living Mall Co.,Ltd said “We believe that the home furnishings business in Indonesia has a high potential to go far particularly through our partnership with Transmart Retail. Apart from the slowdown in fashion and IT gadgets, the home furnishings markets has growth potential. The expansion of our new regional market in Indonesia will help increase revenue share from International up to 14% this year from our current level of 8% and will shape Index Living Mall to become a successful regional player.”

    Besides, the potential of CT Corp under the supervision of Mr.Chairul Tanjung, Indonesian tycoon and Transmart Carrefour retail business owners, is one of the key factors that supports Index Living Mall in penetrating into the right market locations, approaching to the right target groups, as well as expanding customer bases. “We strongly hope that our franchise expansion in Indonesian market will build trust of Index Living Mall among our customers here in terms of its high quality, international standard, cutting-edge design and product which has been specially selected of the market in Indonesia” he said.

    Mr.Shafie Shamsuddin, President Director and CEO of PT. Trans Retail Indonesia highlighted that “This strategic partnership is expected to provide added value for Indonesian consumers with more and more sophisticated choices of furniture products at Index Living Mall that are integrated in one area with Transmart Carrefour. Surely this will provide a trend of positive and complementary consumer spending needs between Transmart Carrefour and Index Living Mall as well as we help to provide place and space for local products to partner with us”

    “We have successfully expanded our International Retail Business across Malaysia, Vietnam, Singapore, Cambodia, Laos, Myanmar, Nepal, Maldives, Pakistan, Russia and now Indonesia as well as having strategic partners in place for the export of our products into Japan, Korea, The America, Europe. The International Retail Business represented 8% of total retail sales against Thailand in 2016.” according to Mr.Gerard McGurk, Head of International Business Development of Index Living Mall Co.,Ltd.

    The concept of ‘The Best is Back’ which would represent the 6 Best key strategies. First, The Best Furniture Lifestyle Store, Index Living Mall sells all home furnishings products in best style and best material. Second, The Best Value, the products are worth every sen of the price. There is no need to wait for the sales promotion because Index Living Mall has own factory. Third, The Best Design, the designs are being created by famous designers from all over the world such as Italy, Sweden, Denmark and Germany. Fourth, The Best Quality, every single piece of the products is being well made from the best selection of materials to ensure the best quality for the customers. Fifth, The Best Impression, Index Living Mall customer service is beyond expectation, not just the fast shipping service but also quick installing from our professionals. With 3D designer specialist service through 360 degree perspective within 30 minutes via 3D-Rooms-to-show program. Finally, Sixth, The Best Offers, Index Living Mall offers numerous special deals, promotions and privileges during the grand opening celebration.

     

  • Tim Ho Wan Cambodia launches in Aeon Mall

    Tim Ho Wan Cambodia launches in Aeon Mall

    Tim Ho Wan Cambodia has launched its first Hong Kong dim sum outlet at Aeon Mall Phnom Penh, drawing on the brand’s roots as the “world’s cheapest Michelin-starred restaurant”.

    Its officially launch follows a five-day soft opening that attracted about 700 diners a day, according to Tim Ho Wan Cambodia GM Chum Phirun.

    Starting as a hole-in-the-wall eatery in Hong Kong’s Mong Kok district in 2009, Tim Ho Wan earned a Michelin Star in 2010, being the least expensive restaurant on the planet at the time for the French dining guide.

    With this reputation, the outlet soon became a chain, expanding to 45 locations in Asia, Australia and the US. Despite this success, the restaurant failed to catch on in Malaysia.

    Openings in Singapore and New York attracted queues, with customers waiting up to three hours for a table. However, Phirun says few Cambodians are aware of the dim sum chain’s fame or the significance of a Michelin Guide rating.

    “The income of Phnom Penh residents is growing rapidly, and many people are now seeking hygienic, high-quality food, so we want to educate them on the advantage of a Michelin-starred restaurant like Tim Ho Wan.”

    While two Hong Kong branches of the chain have a Michelin Star, the 33-table restaurant in Phnom Penh does not. It serves 24 varieties of dim sum, and Phirun says there are plans to open two more branches in the city next year.

    Founders Mak Kwai Pui and Leung Fai Keung were brought to the official launch by Tim Ho Wan Cambodia director Seak Guech.

    Lees ook:

  • CLSA Capital sells Zing! mall for $2 billion

    CLSA Capital sells Zing! mall for $2 billion

    CLSA Capital Partners has sold the 27-storey Zing! mall building in Causeway Bay for HK$2.1 billion (US $268.6 million).

    An unknown buyer completed the deal by paying $1.1 billion after selling The L. Plaza in Sheung Wan to CLSA for $1 billion

    Zing!’s 79,051 sqft (7344 sqm) of space is believed to be fully leased out to retail tenants including F&B, beauty salons, gyms, clubs and karaoke venues. It is next to Times Square Hong Kong.

    CLSA Capital Partners bought the building, formerly known as Bigfoot Centre, in 2014 for $1.4 billion.

    After being refurbished, it was relaunched as Zing! in March 2015. The private equity arm of CLSA put Zing! on sale via public tender in May.

  • Jakarta shopping mall business ‘still promising’

    Jakarta shopping mall business ‘still promising’

    Jakarta shopping malls are still a promising business despite online retailing becoming more popular, says US real-estate service company Colliers International Group.

    It says the reason for this is a lack of entertainment options for family holidaymakers in the Indonesian capital.

    Twelve shopping centres with a total floor space of about 600,000 sqm are expected to be completed by 2020, with 38 per cent now under construction, Colliers Indonesia says in its latest retail property outlook report.

    With little choice for family entertainment, malls still appeal to locals as family destinations,” says senior associate for retail service Steve Subadi Sudijanto.

    Aeon Mall Indonesia is planning to open four more stores, three of which are being built, in Jakarta and its suburbs through 2020. The Japanese brand’s first shopping mall opened in Tangerang in Banten on the capital’s outskirts in May 2015.

    Colliers says F&B continues to be the main attraction. More new brands from Asian countries are arriving and expanding in Indonesia.

    “Tough competition requires developers to be more dynamic in attracting locals through renovation and tenant reshuffles on the back of a government measure to curb the number of new store openings in Jakarta,” says Colliers senior associate director of research Ferry Salanto.

    “In fact, hunting for new brands, particularly in fashion and food, is continuing to become a common habit for shoppers in Jakarta.”

    Lees ook:

    Lees ook:

  • Mall offers bored partners ‘husband rest hatches’

    Mall offers bored partners ‘husband rest hatches’

    Global Harbour, Shanghai’s largest mall, has launched four “husband rest hatches” where men can put up their feet and play computer games while their significant others shop.

    However, the idea has had a mixed reception from couples, reports ThePaper.cn.

    “Such a machine is just the best of both worlds: the girlfriend can take her time shopping while I have some fun without disturbing others,” one man told the news site, while one woman complained that it was impossible to ask a man to stop playing games. “I may now have to wait for him when I finish shopping but he’s still playing games.”

    Another woman said a man was supposed to accompany his girlfriend while shopping. “I’ll be the bored one if he plays games and has fun by himself.”

  • Matahari Department Store Wins Best Wealth Creator Award

    Matahari Department Store Wins Best Wealth Creator Award

    The award assessed the performance of the best public companies in Indonesia and Southeast Asia based on Wealth Added Index (WAI), a calculation method developed by Stern Stewart. WAI is a metric used to measure the wealth created by a company for its shareholders.

    WAI is obtained by taking the adjusted total shareholder value minus the cost of equity, which is then multiplied by market value or market capitalization.

    The calculation found an increase in the number of local companies that were able to generate wealth for shareholders.

    Lees ook:

  • Aeon to open second Cambodia mall in 2018

    Aeon to open second Cambodia mall in 2018

    Japanese group Aeon is expanding its presence in Cambodia with a new location, Aeon 2, announced for 2018.

    Covering 70,500 square metres of retail space, it will be the second Aeon Mall in Cambodia. The exact location has not been disclosed, nor has a date been given for completion.

    According to local media, Cambodian retailers are hailing the entrance of Aeon in 2014 as a huge success, saying its “high standards” are having a positive impact on the Kingdom’s retail sector.

    “Aeon is the first international mall operator and developer in Phnom Penh, and they have set an industry standard and expectations for other such malls in Cambodia,” said Cambo-Sia CEO, Daniel Li.

    “The demand for entry into Aeon is very high, and there is a waiting list for brands wanting to make a debut in the mall.”

    Aeon Mall, the first large-scale modern shopping mall in Cambodia, recently celebrated its third year of operation in the Kingdom.

    CBRE’s first-quarter real-estate report said prime retail rents for malls have dropped by 0.9 per cent compared to the previous quarter, averaging US$31.1 a square metre per month. Prices gained 1 per cent year-on-year.

    The second half of last year, prime rental prices in Cambodia ranged from $32 to $70 a square metre per month, according to a Frank Knight report. The upscale Vattanac Capital mall held highest priced leases for its 5000 square metres of retail space, said the report.

    Looking forward, the retail sector in Cambodia is set to further evolve over the next three years as the total modern retail space could surge from the current 212,000 square metres to 582,000 square metres.

    Lees ook:

    Lees ook:

    Lees ook:

  • Sephora to open store in Doota mall in Korea

    Sephora to open store in Doota mall in Korea

    Sephora, the world’s largest cosmetics multi shop, will open a store in Doota Mall, Dongdaemun, Seoul.

    According to officials, Sephora is in the process of making contract with Doota Mall.

    Sephora, that started in 1969 as a small cosmetics shop in France, is a famous cosmetics shop that is often found in famous shopping streets around the world, where customer can buy and test various cosmetic brands.

    Especially in 1997, the power of Sephora became stronger when it was sold to the LVMH group of world famous brand Louis Vuitton.

    It has been reported that Doosan’s owner, Park Seo-won, in charge of distribution strategy of Doosan (CSO), has contacted officials of Louis Vuitton and It is now presumed to open Sephora in Doota Mall.

    Park Seo-won met Bernard Arnault, who is president of LVMH group in the eve of Louis Vuitton Exhibition held at Dongdaemun Design Plaza in Seoul in early June, and also attended the “Viva Technology” conference, a start-up company road show held in Paris, France.

    At the time of opening the Doota Duty Free Shop, Park visited Louis Vuitton and Chanel‘s headquarters to try and attract luxury brands. However, one year later, they are facing difficulties in attracting luxury brands compared to other duty free shops. In addition, Doota duty free sales was directly affected by Thaad.

    However, it is now possible to expect to boost the Doota mall through the opening of Sephora.

    Sephora is expected to attract not only foreign customers but also Korean customers by having a PB brand that can be sold only in Sephora as well as luxury cosmetics brands such as Dior, Hermes, Prada and Tom Ford.

    Lees ook:

    Lees ook:

  • CapitaLand nabs three mall management contracts in China

    CapitaLand nabs three mall management contracts in China

    These expand the group’s mall footprint by another 115,000 sqm. CapitaLand Limited is accelerating its shopping mall network expansion through the recently-won management contracts with three new partnerships in China.

    According to the group, its subsidiary CapitaLand Mall Asia will be adding more than 115,000 square meters of gross floor area with these deals.

    In Chengdu, CapitaLand has been commissioned by Sichuan Da Yi Real Estate Co. Ltd to manage the retail component of Leshijie, an integrated development in the up-and-coming Pidu district.

    In Foshan, CapitaLand will be managing the retail component of Hehua International Commercial Plaza a landmark integrated development near Foshan’s border with Guangzhou, on behalf of Hehua Shengshi (Foshan) Property Development Co. Ltd.

    In Shanghai, CapitaLand will manage the retail component of Capital Square, an integrated development it is jointly developing with Shanghai Shentong Metro Group, which develops, constructs and operates railway and metro lines in the city.

    “Since embarking on our mall network expansion strategy last August, we have secured six management contracts in Singapore and China to date, growing our portfolio by close to 300,000 square metres within a year,” CapitaLand Mall Asia CEO Jason Leow said.

  • AEON in Collaboration with The Mall Shopping Center Anniversary Happy Surprise

    AEON in Collaboration with The Mall Shopping Center Anniversary Happy Surprise

    Mr. Tula Pharuehaspailin (Middle), Marketing Senior Manager AEON Thana Sinsap (Thailand) Public Company Limited, Ms.Voralak Tulaphorn (Right), Senior Vice President Marketing The Mall Group, and Ms.Duangta Phongwilai (Left), Group General Manager – Shopping Center Corporate Marketing The Mall Group launches “The Mall Shopping Center Anniversary Happy Surprise” campaign for AEON shopping enthusiasts, with a “Lucky Surprise” draw when choosing to spend at every branch of The Mall Shopping Center.

    Every 1,000 baht spent, customers will get an x3 lucky draw coupon to win a special trip to Japan, Osaka with a round-trip flight ticket and accommodation for up to 5 prizes for 2 seats per prize totaling 650,000 baht. Followed by “Surprise Digital Box”, where customers spending 800 baht and above will get a chance to win a Surprise Digital Box. Most importantly with “AEON Surprise” ,when spending 5,000 baht or more with The Mall Shopping Center receive cash vouchers up to 500 baht , together with many promotions starting today until the 2nd of July, 2017.

  • Korean-themed mall opens in Bangkok

    Korean-themed mall opens in Bangkok

    Hoping to capitalise on growing regional interest in South Korean pop culture, a Thai company opened a $275-million Korean-themed shopping mall and entertainment complex in Bangkok on Monday.

    The 180,000 square metre (1.9 million square feet) building targets both Thai fans of K-Culture and foreign visitors. It hopes to get 10 million visitors a year and become a major attraction in what was the world’s most visited city last year.

    “A lot of Asian people are fans of Korea,” said Chayaditt Hutanuwatra, chairman of privately-owned SHOW D.C. Corp Ltd. “Thailand is the place where people can just fly in.”

    The mall has stores with clothing, cosmetics and restaurants from Korean brands and K-pop artists. It has statues and palm prints of Korean stars and plans to bring Korean performers in to the floor it has dedicated as a concert hall.

    South Korea’s Lotte Group is among the companies that will open a store there, the mall said.

    Around a third of the more than 34 million tourists forecast to visit Thailand this year are from China – where interest in K-Culture has been driven underground by a recent row over Seoul’s deployment of a missile defence system.

    Lees ook:

  • Lippo Malls Indonesia Retail Trust posts 7.6% rise in Q4 DPU

    Lippo Malls Indonesia Retail Trust posts 7.6% rise in Q4 DPU

    Lippo Malls Indonesia Retail Trust (LMIRT) posted a distribution per unit of 0.87 cents for its fourth quarter 2016, an increase of 7.4 per cent from a year ago.

    Its net property income went up 10.9 per cent to S$44.6 million. For the full year ended 2016, LMIRT’s net property income rose 8.4 per cent to S$171.9 million.

    For Q4 2016, total gross revenue went up 9.1 per cent to S$48.7 million year on year, mainly due to positive rental reversion within the existing malls.

    The trust recently completed the acquisition of Lippo Mall Kuta, expanding its portfolio to 27 properties and asset size to S$1.9 billion.

    Viven Sitiabudi, executive director of the Reit manager, said: “With our shopping malls registering a consistently high occupancy rate of 94.3 per cent, we expect a stable stream of rental income going forward.”

    Lees ook:

  • Korean shopping mall launches international delivery service

    Korean shopping mall launches international delivery service

    Paju Premium Outlets has launched a new service through which products bought at its shopping mall in Paju, Korea can be delivered to countries across the world. The retail company has offered the service through an agreement with DHL Korea.

    The mall, located in South Korea’s Gyeonggi Province, is operated by Shinsegae Simon. Brands sold at the mall include Armani, DKNY and Polo Ralph Lauren.

    “The delivery service will make it possible for foreigners to enjoy shopping without the worry of how to take the purchased products home,” a Shinsegae Simon spokesperson was quoted as saying.

    Lees ook:

  • Las Vegas Sands Corporation may offload portion of Marina Bay Sands

    Las Vegas Sands Corporation may offload portion of Marina Bay Sands

    In Singapore, giant casino operator Las Vegas Sands Corporation is reportedly hoping to sell off a large stake in its shopping mall inside the Marina Bay Sands development before potentially using the proceeds to invest in future venues in Japan or South Korea.

    According to a report from The Straits Times newspaper, the Las Vegas-based giant wants to offload a 49% share in its 800,000 sq ft The Shoppes At Marina Bay Sands for up to $3.5 billion but first needs the approval of the city-state’s government.

    “We expect to receive a very significant price for the 49% we are willing to sell,” Sheldon Adelson, Chairman and Chief Executive Officer for Las Vegas Sands Corporation, reportedly told analysts during a conference call on Wednesday. “We are looking at potentially $3 billion to $3.5 billion. We’re in preparation with our bankers to prepare that property to sell. The interest we have is that it is the highest trophy mall there is in the world. We anticipate almost an unprecedented price to sell 49% of it.”

    Adelson also reportedly declared that the desired price would make The Shoppes At Marina Bay Sands “the most expensive mall ever sold in the world” although any transaction would not take place until April or May.

    Under the terms of its original licensing deal, which began in March of 2007, Las Vegas Sands Corporation was reportedly given a ten-year exclusivity period so that it could begin to recoup the billions of dollars it had spent to construct the Marina Bay Sands. A similar agreement was moreover inked by Genting Singapore for its nearby Resorts World Sentosa integrated casino resort complex and both firms would need official approval before offloading any portion of their Singapore developments once this privileged phase expired.

    “There are more noises coming out of [South] Korea now that Japan is legalizing casino gaming,” Adelson reportedly told analysts. “We will want to see what the development opportunities are. We can always get money to develop properties.”

    Chew Tiong Heng, Infrastructure Planning And Management Executive Director for the Singapore Tourism Board, told The Straits Times that Las Vegas Sands Corporation, which also operates The Parisian Macao, The Plaza Macao, Sands Macao, The Venetian Macao and Sands Cotai Central in Macau via its Sands China Limited subsidiary, has indicated that it may sell off a portion of Marina Bay Sands but had yet to make a formal request.

    “My guess is the government doesn’t want [Las Vegas Sands Corporation] to cut and run or become asset-light and just focus on gambling,” Alan Cheong from global real estate services provider Savills Singapore told The Straits Times. “It wants Las Vegas Sands [Corporation] to still have commitment to its investment in Singapore. On the other hand, Las Vegas Sands [Corporation] may also want to retain majority control because it wants to maintain the mall’s position in the retail market.”

    Although more than 60% of Las Vegas Sands Corporation’s current revenues come from Macau, its Marina Bay Sands development is still a prized asset with the development recently posting an 8% increase year-on-year in fourth-quarter net profits to $366 million. This was helped by a 2.8% rise in overall revenues $723 million while gaming turnover swelled by 5.6% to reach $563 million.

    In terms of The Shoppes At Marina Bay Sands, turnover for the final three months of 2016 climbed by 4.8% year-on-year to hit $44 million while Cheong additionally told the newspaper that potential buyers could include “sovereign wealth funds or a consortium of large private equity firms” as there is currently “a lack of available good-quality retail mall stock” in Singapore.

  • 9 upcoming retail mall projects in Singapore

    9 upcoming retail mall projects in Singapore

    According to a Savills report, there are at least nine major mall projects in the pipeline from Q4 2016 to 2020, totalling around 6.2 million sq ft of retail supply.

    The upcoming retail supply for 2016 is mainly from the new mixed-use developments in the Central planning region, mainly from two new integrated projects: Downtown Gallery and Tanjong Pagar Centre.

    From 2017 to 2020, approximately 6.2 million sq ft of new retail space is expected to enter the physical stock. Major developments consist of the new retail mall at Singapore Post Centre and The Heart at Marina One.

    Hillion Mall in the Bukit Panjang planning area is the only significant development in 2017 that is not located within the Central planning region.

    9 upcoming mall projects in Singapore

    1. Downtown Gallery
    Location: Shenton Way
    Estimated NLA (sq ft): 160,000
    Estimated completion: 2016

    2. Singapore Post Centre AEI
    Location: Eunos Road 8
    Estimated NLA (sq ft): 269,100
    Estimated completion: 2017

    3. Hillion Mall
    Location; Jelebu Road
    Estimated NLA (sq ft): 152,500
    Estimated completion: 2017

    4. Marina One (The Heart)
    Location: Marina Way/Straits View
    Estimated NLA (sq ft): 140,000
    Estimated completion: 2017

    5. Paya Lear Quarter
    Location: Paya Lear Road/Sims Avenue
    Estimated NLA (sq ft): 340,000
    Estimated completion: 2018

    6. Northpoint City
    Location: Yishun Central 1
    Estimated NLA (sq ft): 315,250
    Estimated completion: 2018

    7. TripleOne Somerset Podium AEI
    Location: Somerset Road
    Estimated NLA (sq ft): 88,500
    Estimated completion: 2018/9

    8. Jewel Changi Airport
    Location: Airport Boulevard
    Estimated NLA (sq ft): 576,000
    Estimated completion: 2019

    9. Funan
    Location: North Bridge Road
    Estimated NLA (sq ft): 324,000
    Estimated completion: 2019

    Lees ook: