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Tag: offering

  • Mr DIY Unveils Expanded Plus Concept Store at The Mines, Offering a One-Stop Shopping Experience

    Mr DIY Unveils Expanded Plus Concept Store at The Mines, Offering a One-Stop Shopping Experience

    Mr DIY, a renowned retailer, has broadened its retail scope by launching a new larger-format store, known as Mr DIY Plus, located in The Mines, Malaysia. This latest addition encapsulates the company’s four diversified retail brands: Mr DIY, Mr Toy, Mr Dollar, and Emtop. Providing a more comprehensive selection of products, the store caters to customer needs in various categories such as home improvement, household, hardware, electrical, stationery, toy, automotive, and lifestyle.

    The new store is not just a shopping spot, but an interactive community hub. The outlet features innovative community-focused attributes such as dedicated spaces for weekend workshops and activities, along with captivating retail displays to foster customer engagement. The overarching goal of this larger-format concept is to enhance customer convenience by amalgamating a multitude of product categories into one single, easy-to-navigate shopping destination.

    Adrian Ong, CEO of Mr DIY, shared his insights on the evolving shopping habits of customers. He stated that customers no longer have to compromise on variety or value in search of convenience, as the new Mr DIY Plus store is designed to cater to these needs. In addition to providing everyday essentials, the store encompasses a wider range of products, creating a unique and refreshed shopping experience. By positioning itself as a community destination, Mr DIY Plus aims to further integrate into the daily routines of its customers.

    This inaugural event comes as Mr DIY maintains its growth trajectory in the region. The retailer marked an impressive milestone earlier in the year as it expanded to over 1000 stores in Thailand. Reflecting on its expansion plans, Mr DIY has set an ambitious goal of reaching 3000 stores in Thailand by 2031, with an anticipated addition of 210 outlets within the current year.

    Questions & Answers

    What new concept has Mr DIY introduced with its latest store?
    With the new Mr DIY Plus store, the company has introduced a larger-format retail concept. This includes an amalgamation of the group’s four retail brands, offering a wider range of products and an easier-to-navigate design.

    What unique features does the new Mr DIY Plus store offer?
    The store introduces community-focused features, such as dedicated spaces for weekend workshops and activities, as well as interactive displays to engage customers.

    What are Mr DIY’s expansion plans in Thailand?
    Earlier this year, Mr DIY surpassed 1000 stores in Thailand. The retailer plans to add another 210 outlets this year, with a target of reaching 3000 stores in Thailand by 2031.

  • DBS Unveils Singapores First Retail-Ready Tokenised Gold Offering: Buy, Trade, and Hold via One Digital Platform

    DBS Unveils Singapores First Retail-Ready Tokenised Gold Offering: Buy, Trade, and Hold via One Digital Platform

    DBS Bank is set to revolutionize the financial market in Singapore by launching tokenized physical gold for retail customers in the latter half of 2026. With this initiative, DBS Bank takes the lead as the first bank in the nation to empower its customers with the capability to purchase, possess, and transact in tokenized physical gold via a singular digital platform.

    Tokenizing Precious Metal

    The advanced DBS Physical Gold Tokens will be available through the DBS digibank app. With each token backed by an equivalent amount of physical gold that will be securely stored in a dedicated DBS vault located in Singapore. Each token will stand for one gram of gold, providing customers the opportunity to acquire fractional ownership of this valuable metal.

    DBS Bank assures that this offering will facilitate 24/7 trading, almost immediate settlement, and the choice to exchange tokens for physical gold. Moreover, the bank is looking into the possibility of having the tokens listed on the DBS Digital Exchange (DDEx) for accredited and institutional investors.

    This launch coincides with the escalating interest in gold and the tokenization of real-world assets. DBS Bank will oversee the entire procedure internally, including tokenization, custodial services, vaulting, and distribution.

    Li Zhen, Head of Foreign Exchange, Precious Metals, and Digital Assets at DBS, commented on the initiative, stating that the bank’s comprehensive digital asset capabilities will simplify access to and management of physical gold for clients.

    James Tan, Group Head of Investment Product and Advisory, also shared his views on the subject. He mentioned that tokenization would expand access to an asset class that has typically been accessible mainly to wealthy and institutional clients.

    Expanding Digital Asset Services

    The introduction of tokenized gold expands upon DBS Bank’s existing array of gold investment products. Moreover, it is part of the bank’s broader endeavor to delve into digital assets and blockchain-based financial services.

    Questions & Answers

    What is the DBS Physical Gold Tokens initiative?
    This initiative by DBS Bank allows customers to purchase, hold, and trade tokenized physical gold via a single digital platform.

    What features does the tokenized gold offering include?
    The offering will enable 24/7 trading, near-instant settlement and the option to redeem tokens for physical gold. The bank is also exploring a future listing of the tokens on the DBS Digital Exchange for accredited and institutional investors.

    How does this initiative fit into DBS Bank’s broader strategy?
    The tokenized gold offering expands DBS Bank’s existing range of gold investment products and is part of the bank’s broader push into digital assets and blockchain-based financial services.

  • FedEx and eBay Team Up to Boost APAC Businesses Through New E-commerce Offerings

    FedEx and eBay Team Up to Boost APAC Businesses Through New E-commerce Offerings

    FedEx Express, a subsidiary of FedEx and one of the world’s largest express transportation companies, announced a new alliance with eBay, a leading e-commerce marketplace platform for fast-growing and established brands worldwide. eBay sellers in the Asia Pacific region can now sign up for a FedEx account and gain access to the full spectrum of FedEx e-commerce delivery service options at competitive rates.

    Marketplace sales account for 67% of e-commerce globally, with the Asia Pacific e-commerce market expected to grow by about 14% annually, reaching US $352.68 trillion by 2030. This collaboration will help propel e-merchants – especially small business owners – amidst booming e-commerce in the region, driven by consumers’ changing behaviors toward shopping online accelerated by the pandemic.

    Through this collaboration, eBay sellers will be able to provide their customers with a more premium delivery experience powered by FedEx shipping solutions. Key benefits under the current strategic program include:

    • Competitive rates: eBay sellers will receive competitive discount rates on FedEx Express services.
    • Enhanced shipping capabilities: FedEx offers eBay sellers a wide range of services that are critical for cross-border e-commerce, including FedEx Electronic Trade Documents; FedEx Home Delivery, which now delivers seven days a week; a portfolio of flexible, simple returns options; and the FedEx Hold-at-Location which gives consumers a choice to have their packages delivered conveniently and safely to various grocery stores, pharmacies and FedEx Office locations.
    • Direct contact with FedEx: eBay sellers will get their own FedEx account to use any shipping solution from the vast portfolio that FedEx provides. Additionally, eBay sellers can contact FedEx directly for pickups and billing questions, as well as to order shipping forms or other delivery supplies, reroute packages and manage their My FedEx Rewards account.

    “E-commerce has become the new growth engine behind the APAC economy. Logistics services providers like FedEx, therefore, play a critical role in helping e-commerce businesses deliver seamless customer experiences from online to the physical world,” said Kawal Preet, president of Asia Pacific, Middle East and Africa (AMEA) at FedEx Express. “We’re thrilled about this collaboration with eBay that enables easier access to more markets through our international logistics services. By providing international shipping solutions at highly competitive rates, we are helping eBay sellers make the most out of our premium services and products as they continue expanding overseas.”

    “eBay has been driving retail export in the region and enabling our sellers to grow their business via our global marketplace,” said Jenny Hui, General Manager of Cross Border Trade, Hong Kong, Taiwan and Global Emerging Markets at eBay. “Shipping is a critical component of the cross border e-commerce ecosystem. Teaming up with FedEx, one of the world’s most well-respected e-commerce transportation and logistics carriers, gives our sellers access to a unique set of capabilities and rates, which ultimately enables them to provide their global customers with retail-standard buyer experience.”

    The collaboration reflects the latest effort in strengthening the FedEx leadership in the e-commerce ecosystem through strategic collaborations with leading marketplaces and technology providers. To date, FedEx has integrated with more than 17 marketplace providers, including BigCommerce, an open SaaS e-commerce platform, allowing hundreds of thousands of e-tailers across Asia Pacific direct access to FedEx services, using their FedEx account number, to manage shipments and grow their cross-border e-commerce business.

  • DBS Expands Digital Exchange Offering

    DBS Expands Digital Exchange Offering

    DBS expands the offering on its digital exchange with its first-ever bond issuance via security token offering.

    DBS has issued a S$15 million ($11.35 million) bond through a security token offering (STO) on its digital exchange, according to a statement.

    The bond has a six-month tenor with a coupon rate of 0.60 percent per annum.

    The issuance was executed via private placement and DBS was the sole bookrunner for the transaction.

    According to the bank, asset tokenization enabled the digital bond can be traded at a significantly smaller minimum of S$10,000 per board lot, further driving liquidity and lowering barriers for investor access.

    While most bond tokenization exercises announced in Asia to date tend to be repackaged forms of a conventional bond issue, the current transaction directly combines existing legal and tax infrastructure requirements with a direct issuance on the digital exchange in smaller lot sizes, said DBS’ global head of fixed income Clifford Lee.

    This bond token structure was only made possible because of the progressive development of Singapore’s legal and tax infrastructure, which can facilitate more STO issuances to broaden and deepen our capital markets.

    According to DBS’ group head of capital markets Eng-Kwok Seat Moey, the bank expects more issuers to leverage asset tokenization for fundraising.

    Our maiden STO listing on the DBS Digital Exchange is a significant milestone, as it highlights the strength of our digital asset ecosystem in facilitating new ways of unlocking value for issuers and investors, he said.

    We expect asset tokenization to increasingly become more mainstream as more of our clients start to embrace security token issuance as part of their capital fundraising exercise which we believe will boost Singapore’s ambitions to be a digital asset hub in Asia.

    DBS’ digital exchange – DDEx – launched in December 2020 with an initial offering that covered cryptocurrency trading.

    Daily trading volumes have increased 10-fold compared to the initial week of the launch, the bank said, with over 120 participants on the exchange and S$80 million of digital assets in custody.

    Earlier this month, the bank launched a crypto trust offering that combined wealth planning services with emerging digital currencies.

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  • Baozun buys Full Jet to boost luxury e-commerce offer

    Baozun buys Full Jet to boost luxury e-commerce offer

    Baozun, the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, today announced that it has entered into a share purchase agreement with all the shareholders of Full Jet Limited (“Full Jet”), to acquire a 100% equity interest in Full Jet. The acquisition is subject to customary closing conditions and is expected to be completed on or around February 10, 2021.

    The final enterprise value of Full Jet represents a 12.5x multiple of Full Jet’s 2020 EBITDA, with total consideration consisting of a 50% initial cash payment and deferred payments in cash or equity over the following three years, subject to an annual performance target completion result. In addition, an incentive program is granted to key members of Full Jet’s management team, which is also subject to the annual performance target completion result during the same period.

    Full Jet is a strategic and brand-focused industry expert that specializes in developing go-to-market strategies for high-end and luxury brands entering the Chinese market. Its key business coverage includes brand development, strategic consulting, e-commerce operations, and marketing. Full Jet has successfully leveraged its in-depth knowledge of China’s e-commerce market to support many leading international premium and luxury brand partners and groups. Full Jet has global offices in Paris, Hong Kong, and Shanghai, China.

    According to a recent report issued by independent third parties, China’s personal luxury market was estimated to grow by over 45% in 2020, within which online e-commerce has grown tremendously. In September 2020, Baozun upgraded its luxury group to a tier-1 business unit to better leverage its analytic data, insights, and resources to capture the emerging demand. The Company believes that this strategic acquisition of Full Jet strengthens the Company’s expertise in business development, strategic consulting, and brand management, and expands its geographic touchpoints with premium and luxury brands globally.

    Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun commented, “We are excited about the acquisition of Full Jet. Baozun and Full Jet share the ambition of helping international luxury and premium brand partners enter China’s fast-growing e-commerce sector. We are confident that our proven track record of capabilities with deep luxury insights and solid infrastructure, combined with Full Jet’s expertise in brand and business development, will provide a compelling value proposition for international labels looking for more strategic and empowered services like us. By capitalizing on the strengths of both parties, we expect to unlock the potential for the future growth of premium and luxury sectors, and we believe such initiatives will become strong growth drivers for Baozun in generating RMB20 billion in annual GMV within the next three to five years.”

    Ms. Sandrine Zerbib, Founder and Managing Partner of Full Jet added, “We are looking forward to beginning a new journey with Baozun. This acquisition opens doors to tremendous new opportunities for both of us. We are impressed with the vision and execution of Vincent and his team that has made Baozun the undisputable leader in China’s rapidly growing market for e-commerce operations and services.

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  • Amazon accelerates Australian Online Fashion Offerings

    Amazon accelerates Australian Online Fashion Offerings

    Amazon Australia has been connecting with fashionistas in Sydney this week, where thousands of designers, retailers, celebrities and fans have gathered to see the latest looks at the Mercedes-Benz Fashion Week Australia (MBFWA).

    As an official sponsor of the event, along with the likes of Moet & Chandon, Swarovski and Superga, Amazon has built an Instagram-worthy pop-up at Carriageworks.

    Visitors can try on some of the local brands available on Amazon and capture the perfect ‘selfie moment’ against four different backdrops, including a mint green oasis based on the products available through Amazon’s Travel range, a Bonds jungle, and a resort-style changing room.

    Amazon said the activation is designed to provide a memorable and educational experience for both industry and consumer guests.

    “We are really excited to be a part of the Mercedes Benz Fashion Week, alongside established and emerging brands,” Angela Langmann, head of Amazon Fashion, said in a statement.

    Since launching in December 2017, Amazon Fashion has rapidly grown its range. It now has tens of millions of products across clothing, shoes and accessories from over 1000 brands.

    In addition, the number of Australian brands on the platform has quadrupled from 33 to 150, with that number continuing to grow, according to Langmann.

    “At Amazon Fashion we celebrate local Aussie brands and build a shopping experience that helps our customers discover emerging and established Australian brands,” she said.

    Some of the more established Australian fashion brands on the platform include Talulah, Stevie May, Senso, Oroton, Three of Something, Finders, Bendon, Review and Lorna Jane, alongside small and medium-sized local businesses like sunglasses brand Local Supply, hat brand Will & Bear and footwear brand Wild Rhino.

    “One of the most powerful things about Amazon Fashion is that a customer can shop from major brands like Calvin Klein and Levis, buy from small and medium-sized local businesses like Local Supply, Will & Bear and Wild Rhino and from more established Aussie brands like Talulah, Stevie May, Senso, Oroton, Three of Something, Finders, Bendon, Review and Lorna Jane,” Langmann said.

    In terms of what’s next for Amazon Fashion in Australia, Langmann said the company is constantly looking for new ways to innovate within the fashion space and is exploring various avenues.

    In the US, the e-commerce giant has launched services like Prime Wardrobe, which gives customers seven days to order clothes and shoes and try them on at home, before they need to pay for the items they want to keep.

    This service so far is not available in Australia.

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  • Meituan Scaling down Ella Supermarket Outlets

    Meituan Scaling down Ella Supermarket Outlets

    Chinese food-delivery website Meituan has closed three of its Ella Supermarkets in Jiangsu, almost halving its network of outlets.

    The business initiative, which sells fresh supermarket produce online for fast home delivery, has just four remaining locations in Beijing and Wuxi.

    The closures were reportedly put down to mismanagement, and stand in stark contrast to the company’s stated plans to open 20 outlets within last year.

    Its shortcomings are reflected by competing brands, however, with rival groups Yonghui Super Stores, 7Fresh and SuFresh also performing under par. Alibaba’s Hema offering is an exception with reportedly strong trading.