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Tag: Philippines

  • SM Seaside City opens in Cebu

    SM Seaside City opens in Cebu

    The newly opened SM Seaside City Cebu is SM’s third largest mall in the country measuring 430,000 sqm in gross floor area.

    And the property developer SM Prime describes the mall as one of the Philippines’ most picturesque, showcasing not just architectural excellence but also resilience in design.

    Due to its proximity to the Mactan Channel, the mall draws marine inspiration from the “nautilus”. The sea creature’s unique shape and logarithmic pattern guided the building’s architectural shape and design. The nautilus, a spiral shell with pale, pearly chambers, is

    one of the finest examples of natural beauty and elegance.

    Arquitectonica’s Peter Brannan, MD for Asia says translating this design into mall features meant not only providing the usual retail, service and transport facilities.

    “It also has to act as the social hub, much like the marketplaces or town squares in the old, traditional communities,” Brannan said.

    This prompted Arquitectonica to propose “community” features such as a landscaped roof deck that can act like a “Central Park” called the Sky Park.

    The design also includes a central courtyard with a 150 meter modern bell tower which can be the centerpiece of community events like fiestas or New Year Event countdowns. Add to this the “Cube” sculpture at the facade of the mall which is an anagram for “Cebu”, serving

    currently as one of the more popular “selfie” spots for shoppers and tourists. Nearby at the complex is the Chapel of San Pedro Calungsod with a hundred walls, which has emerged as one of the City’s favorite wedding destinations.

    Now in operation, the mall makes this communal spirit much more apparent.

    “We understand that Cebuanos have a very strong sense of community, so we wanted to make sure we gave them a venue in which they could celebrate this communal spirit,” Brannan said.

    The Sy family envisioned the 30 -hectare SM Seaside City complex as a regional destination, bringing together local and foreign tourists from all walks of life mainly from the Visayas and Mindanao regions.

    Beyond beauty is sustainability

    Beyond the mall’s aesthetics, SM believes that investing in sustainability safeguards the welfare of the customers, the tenants, and the mall’s host communities.

    SM Prime Holdings president Hans T Sy said during his speech at the UNISDR General Meeting in London in November that depending on the location and assessment of SM’s projects, around 10 per cent of capital expenditure is allocated to disaster resilience which requires making the mall structure resistant to risk from potential disasters.

    “My experience has proven that investing in resilience of our company’s assets makes good business sense,” Sy said.

    For its seaside mall, Architect Fides Hsu, VP of SM Engineering, Design and Development Corp, said SM Prime hired design experts who gave extra attention to the challenges of weather, especially typhoon and flooding given its location by the sea. SM Prime backfilled soil onto the reclaimed property specifically on the roads so that the whole complex where the mall sits is elevated by approximately 4.5 meters from the city roads. Due to its elevation, a lower carpark level was created to accommodate 1700 vehicles.

    Furthermore, all necessary electrical and mechanical equipment are located on the roof deck.

    In terms of seismic design or provisions for earthquakes, the building structure of SM Seaside was designed in compliance with Philippine building regulations such as the 2010 National Structural Code of the Philippines (NSCP), the Uniform Building Code (UBC 97), and the International Building Code (IBC 2010).

    The mall also uses water treatment facilities that recycle used water by 90 per cent and re-use this for the cooling tower, toilet flushing and irrigation.

    To reduce energy consumption, the mall’s air conditioning uses a Building Management System (BMS) and high efficiency chillers. In addition, all storefront windows and skylights of the mall use double glazed low e-glass which prevent heat from penetrating by as much as 78 per cent. Furthermore, the whole mall is equipped with LED lights, while mall escalators have an “auto start and stop” feature that is activated when in use or otherwise. Elevators are inverter type systems that save power of up to 30 per cent.

    “Even way back in the mid 80s when SM started building its malls, Hans T Sy has been responding to issues of sustainability and disaster risk resilience. The older malls of SM, for example, have long been using the BMS and variable frequency drives for air conditioning that control mechanical motors to maximise usage of power,” Hsu said.

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  • Microsoft Lumia 950 and 950 XL makes its way to Philippines

    Microsoft Lumia 950 and 950 XL makes its way to Philippines

    After India, the next market to get Microsoft’s latest offerings, the Lumia 950 and the Lumia 950 XL, is the Philippines. Both handsets are set to hit retail in the region starting December 14th (via Windows Central). The Lumia 950 carries a ₱28,990 (about $615 US) price tag, while it’s bigger sibling costs slightly higher, that is, ₱32,990 ($699). The Display Dock is available as well, but it’s not bundled with the device. Customers interested in the Display Dock can pay ₱3,390 ($72).

    The Lumia 950 comes with a 5.2-inch QHD display with the processing handled by the Snapdragon 808 processor and a 3000 mAh battery. On the other hand, the bigger Lumia 950 XL features a 5.7-inch QHD display with Snapdragon 810 under the hood and a massive 3,340 mAh battery.

    Both devices feature 3GB of RAM, 32GB of internal storage, a microSD card slot for expansion, a 20MP camera for photos and videos, a 5MP front-facing camera and ships with Windows 10 Mobile as its operating system.

    If you’re confused, check out our first impressions with the Lumia 950 and  the Lumia 950 XL to help you make up your mind.

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  • Three-storey retail haven launched in Cebu

    Three-storey retail haven launched in Cebu

    Something big was coming and people could see the signs. Some jeepneys were painted with announcements of an unveiling to come, not to mention that eye-catching red hanger stationed right at the grounds of The Terraces.

    Sure enough, it was unmistakable that after much anticipation, every shopper’s dream came true as one of the world’s biggest fashion retail brands finally opened in Cebu City, namely H&M in Ayala Center Cebu last Friday, Nov. 27.

    H&M, which stands for Hennes & Mauritz AB, is a multinational retail-clothing company founded in Sweden with a business idea to offer fashion and quality at the best price in a sustainable way. Approximately, H&M has 3,900 stores worldwide. This 3,800 square meter store is the 11th store built in the Philippines and is so far the biggest in the country.

    The store in Ayala Center Cebu is a full concept store that offers three levels of retail goodness. Everything that the brand has to offer, Cebuanos can now certainly enjoy them. It carries ladieswear which can be found at the first two floors, a home section also located at the second level, and kids’ wear and menswear at the third level.

    Apart from expecting the latest trends in fashion, H&M also features its Garment Collecting initiative in this store, where customers can donate their used clothes. In return, they get a discount voucher which one can use on one’s next purchase at the store.

    With this opening, it also introduces its holiday collection. Festive and playful, this year’s collection for women is in collaboration with Katy Perry in fun, eclectic and cozy styles. For the men, it’s all about neat, textured tailoring with fun accents and patterned pieces. The little tykes also get to have their moment as H&M offers its fairytale-themed designs.

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  • BlackBerry Priv available in the Philippines

    BlackBerry Priv available in the Philippines

    BlackBerry announced the availability and full features of Priv by BlackBerry, the first-ever BlackBerry smartphone powered by Android in the Philippines. Priv is available at a suggested retail price of PHP 45,000 inclusive of local taxes. It will be available from mid-December through BlackBerry’s exclusive partner in the Philippines, MemoXpress.

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  • Jollibee scouring China, US for acquisitions

    Jollibee scouring China, US for acquisitions

    Philippines-based Jollibee Foods is actively searching for at least two more established fast food or QSR restaurant chains to boost its brand portfolio.

    Jollibee chairman Tony Tan Caktiong says the company will pay up to $100 million for each investment and it is specifically looking at opportunities in China and the US.

    The comments follow the company’s recent purchase of a 40 per cent stake in fast growing US fast food operator Smashburger, for which it shelled out $99 million.

    The search is part of a strategy to increase the proportion of the company’s revenue sourced from outside the Philippines. Jollibee openly aspires to become one of the world’s largest fast food operators and it already ranks 10th as defined by market capitalisation – and first in Asia.

    But to be truly considered a global player, the company needs to derive at least 50 per cent of its income from offshore – currently that share sits at about 20 per cent.

    Earlier this month, Jollibee said it planned to enter seven new international markets over the next two years, along with 20 additional outlets in Vietnam, and another 12 in Brunei during coming months.

    Dennis Flores, VP for international operations of Jollibee, has revealed the company plans to take its mainstay Jollibee burger restaurant brand Jollibee into the UK, Italy, Canada, Malaysia and Oman in 2016. Forays into Australia and Japan will follow in 2017.

    Jollibee, publicly listed in the Philippines, had been actively seeking an investment in a leading US growth brand to gain a foothold in the US, as part of its broader plan to become an international restaurant operator. It currently operates and franchises a network of more than 3000 restaurants worldwide under the trade names Jollibee, Chowking, Greenwich, Red Ribbon, Yonghe King, Hong Zhuang Yuan, Mang Inasal, Burger King Philippines, San Pin Wang, and Jinja Bar. Jollibee also has a 50 per cent interest in the Super Foods Group, which operates and franchises restaurants under the Pho 24 and Highlands Coffee brands throughout Vietnam.

    Jollibee’s network outlets have reached 3,023 worldwide, with 2,393 of them in the Philippines, and 630 outlets abroad.

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  • Philippine supermarkets revamping stores ahead of Christmas

    Philippine supermarkets revamping stores ahead of Christmas

    The Philippine high street is getting a facelift, as retail titans hope to benefit from Southeast Asia’s most reprobate customer spending area during this Christmas. The nation’s biggest supermarkets including Ayala Corp., JG Summit Holdings Inc. and SM Investments Corp. are burning through billions on shopping centers to increase their vicinity throughout the nation, while worldwide brands, for example, Swedish retailer Hennes and Mauritz AB, which once overlooked in Philippines, are announcing their arrival in the region.

    For retailers looking for development, the Philippines has risen as an uncommon spot. National GDP developed at a sound 6.1% a year ago, filled by $27 billion in abroad settlements and over $18 billion in outsourcing incomes—and a lot of that cash was spent in shops.

    A stroll to a tolerantly air conditioned shopping malls is a national leisure activity in this tropical nation and drives family unit utilization, which broke even with 72% of GDP a year ago, as per the World Bank. The Philippines has likewise demonstrating resilience to outside factors, from China’s monetary lull to discouraged product costs. That stands as opposed to its neighbors: Thailand’s family utilization was just 53% of GDP, not a long ways behind Indonesia’s 57% and Vietnam’s 64%.

    With stores being the chief receiver of the surging economy, the Philippines has risen as the star retail entertainer in Southeast Asia, posting segment development of 6% in 2014, as per Nielsen—the most elevated in the locale, and the main execution in light of strong development in both volume and worth terms.

    “The Philippines has had reasonable development driven by customer putting in for a couple of years now,” said Stuart Jamieson, Nielsen’s overseeing executive in the Philippines. “That makes it exceedingly alluring, and puts it on the radar of enormous remote players.”

    Such vigorous development is driving a multiplication of general stores, shopping centers and accommodation stores. From 2012 to mid-2015, the quantity of markets grew 53% to 644, as per Nielsen, while the quantity of accommodation stores rose 60% to 2,270—a number set to twofold again by 2018.

    Swedish design retailer H&M is one of the numerous worldwide brands belatedly grasping the Filipino buyer. Having opened its first Philippine store only one year back, it will have 13 before the end of 2015, empowered by the development of a style cognizant youth market with discretionary cashflow, said an organization representative. Zara, possessed by Spain’s Inditex, and Uniqlo, claimed by Japan’s Fast Retailing Co, have likewise entered the business sector here. Japanese chains Lawson Inc. what’s more, FamilyMart Co. as of late entered the Philippines’ accommodation store part, every arranging many branches, even as settled in players like 7-Eleven increase.

  • New mall boosts SM retail portfolio

    New mall boosts SM retail portfolio

    SM Prime Holdings Inc, the Philippines’ largest mall operator and one of Southeast Asia’s biggest integrated property developers, announced on Thursday another milestone—growth to 7.3 million square meters in local retail space portfolio—as it unveils its 56th mall in the country.

    In a disclosure to the stock exchange, the publicly listed firm of Philippines’ richest tycoon Henry Sy said it is opening today, November 27, “a new regional landmark,” the SM Seaside City Cebu. The new mall is SM’s third mall in Cebu, and adds 430,000 square meters of gross floor area (GFA) to its retail portfolio.

    The new destination mall is the first of many developments in the 30-hectare SM Seaside Complex, which would take about five years to fully develop, said SM Prime President Hans T. Sy. According to SM Prime, the new mall “is the first of its kind in urban development” within the South Road Properties in Cebu City. “As the anchor development, the mall is slated to transform the city’s landscape, as SM Prime builds residences, offices, an arena, a five-star hotel, and convention centers,” the company said.

    The complex, it added, features a steel sculpture named “The Cube,” which symbolizes strength and stability of Cebuanos, as well as “SM’s continued commitment to excellence.” The younger Sy said the new mall promises to revolutionize the malling experience not only in Cebu, but also in the entire Southern portion of the Philippines.

    He said the company was inspired by the success of its Mall of Asia Complex in Pasay City, a mixed-use development that offers retail, residences, offices, hotels and convention centers. “We are replicating this concept of ‘lifestyle cities’ in Cebu, as we open the SM Seaside City mall. We see Metro Cebu as one of our important growth corridors in Visayas and Mindanao, following our growth track in Metro Manila,” said Sy.

    The new mall will feature a 147-meter “Seaside Tower,” that offers a “sensational panoramic view” of the entire city, and a “Sky Park” that provides diverse dining outlets. Other features of the mall include a skating rink, eight cinema houses, and 5,000 parking slots.

    “SM Seaside City Cebu is slated to transform the city’s landscape,” the company said. SM Seaside City Cebu is the sixth SM Supermall to be opened this year, after SM Center Sangandaan, Cherry SM Shaw, and SM City Cabanatuan, among others.

    To date, SM Prime has 56 malls in the Philippines and six in China, with an estimated combined GFA of 8.3 million square meters.

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  • Swedish fashion brand, H&M makes Cebu debut

    Swedish fashion brand, H&M makes Cebu debut

    SWEDISH retail brand H&M (Hennes & Mauritz) is opening its doors to Cebuano shoppers at the Ayala Center Cebu today. Top officials are confident the brand, which was long clamored for by Filipinos to enter the Philippine market, will get a positive reception among Cebuanos similar to long queues experienced during its opening day in Manila last year.

    H&M Cebu is the biggest H&M store in the Philippines to date. The store covers three floors that occupy 3,800 square meters of Ayala Center Cebu’s leasable space.

    “We are just so happy we are given this huge space for our first store in Cebu. We are very well received in the Philippines with the long queues and sold-out collections, which is really amazing. I trust we will get the same vibrance in Cebu,” said Fredrik Famm, H&M country manager for Southeast Asia, in an interview Wednesday. According to the press release, the first 300 customers in line will receive gift cards valued as high as P5,000 and opening offers that are up to 50 percent off.

    H&M Cebu is the 11th store in the country. By year end, the retail brand will have a total of 12 stores nationwide, the latest will be the second H&M store in Cebu at SM Seaside City in South Road Properties, which will open on Dec. 9. Famm sees the Philippines as a destination where there is much growth potential, citing its mature retail market reflected by the increasing number of commercial establishments being put up in key cities like Cebu.

    The country’s over 100 million consumers and well-travelled population, he added, also presents opportunities for international retail brands to thrive.

    A report obtained from the Philippine Retailers Association noted that as of the first quarter this year, consumer spending in the country hit an all-time high of P1.278 trillion from P1.259 trillion in the last quarter of 2014. For the month of May, 2015 alone, the report said that retail sales increased 1.5 percent over the same month last year. Consumer spending in the Philippines averaged P875.888 billion since 1998 up to January 2015. It also added that the country posted a record low of P581.662 billion in sales in the first quarter of 1998.

    H&M Ayala Center is a full concept store carrying ladies wear, mens wear, kids clothing and home accessories. Famm said the brand is a “combination of fashion, quality, price and sustainability.”

    “Every person who’s got an interest in fashion is our customer. Regardless of your personality, you will find something in our stores,” said Famm. More than just brining in high-quality and value for money fashion items, H&M will also introduce its Garment Collecting initiative in Cebu, were customers can donate their used clothes and get discount voucher at 15 percent to use for their next purchase.

    Famm said this initiative, which is implemented through its partner, I:Collect, a global recycling company, is the company’s way of protecting and preserving the environment.

    H&M is said to be the first fashion company to launch a global collection initiative. This initiative, Famm said, “can help reduce waste at the same time give old and worn out garments a new life.”

    “Of the thousand tons of textiles that people throw away every where, as much as 95 percent could be reworn or recycled,” the firm said in its website.

    “Of the used clothes, many things can still be redone. Like, can reuse it and turn them into other products like car seats and other purposes; we can also recycle by turning these old textiles to new fibers,” said Famm.

    This global initiative is being implemented all over H&M’s 3,900 stores worldwide. It has so far collected a total of 7,600 tons of used clothing or 38 million pieces of clothes. Last December, H&M collected 20 tons of used clothing in the Philippines. According to Famm, consumers’ interest on goods made out of sustainable processes is gaining popularity.

    “For H&M, this is a growing part in our production,” he said, adding that the retail brand is also one of the largest buyers of organic cotton in the world from suppliers who also adopt sustainable processes in their own operations. “In many markets, we get high demand of this type from our customers.” H&M products, which are made from sustainable materials, are identified in competitive green price tags.

    After Cebu, the officials are keen on looking at other interesting cities in the Philippines where they can set-up more H&M stores.

    “We see a lot of potential in all major cities in the country. We are looking for appropriate locations. We are kind of picky on that, but we want to be in areas where our customers are,” said Famm.

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  • Developer DM Wenceslao partners with Hongkong Land through Joint Venture

    Developer DM Wenceslao partners with Hongkong Land through Joint Venture

    D.M. Wenceslao and Associates, Inc. (DMWAI), a developer with one of the largest landbanks in Metro Manila, is teaming up with Hongkong Land through a joint venture (JV) between their respective subsidiaries, Portal Holdings, Inc. and Hongkong Land (Philippines) B.V.

    In a statement, DMWAI said the joint venture will develop primarily residential projects over a land area of approximately 26,000 sq.m.

    The property is within DMWAI’s latest and most innovative project, Aseana City, which occupies a waterfront site with a prominent location in the Manila Bay area.

    Hongkong Land is a listed leading property investment, management and development group which owns and manages almost 800,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore.

    It has significant experience in the establishment of world-class residential and business hubs such as the Hong Kong Central Business District and the Marina Bay Financial Centre in Singapore.

    The firm also has a number of residential and mixed-use projects under development in cities across Greater China and Southeast Asia.

    Hongkong Land’s established international track record and experience in developing regional waterfront projects will bring a fresh world-class perspective to the development of Aseana City, said DMWAI.

    DMWAI will also contribute its well-established local development and construction expertise, and a portion of its prime landbank in the Manila Bay Area to the joint venture.

    “We believe that partnerships like this will give us the right combination of local knowledge and global development standards and expertise” said DMWAI chief executive Buds Wenceslao.

    He added that “this is one of the company’s key visions; to transform Aseana City into the Philippines’ next generation city and provide a higher quality of real estate products to our nation.”

    DMWAI is an integrated property developer with an established track record and market-leading capabilities in land reclamation, construction and real estate development. The company has one of the largest land holdings in Metro Manila with over 58 hectares of land.

    Aseana City, the company’s prime asset, is strategically located next to the Entertainment City in the Manila Bay area, and positioned as the next major mixed use CBD within Metro Manila.

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  • Metro surges ahead

    Metro surges ahead

    Last week amid cheers and the beat of drums, Cebuano retailer Frank S. Gaisano – with his siblings Margaret, Jack and Edward by his side – rang the opening bell at the Philippine Stock Exchange (PSE) in Makati.

    The traditional ceremony marked the market debut of Metro Retail Stores Group, Inc., the first for a Gaisano —  an iconic name in Cebu’s retail industry —  and for a Cebu-based company in almost a decade.

    Gaisano said going public, which raised about P3.6 billion for Metro’s expansion, will also enable Metro to “improve margins and operating efficiency, protect our market share, and consequently create value for our investors.”

    Frank Gaisano (4th from left), chairman and CEO, leadS the bell-ringing ceremony to mark the listing of Metro Retail Stores Group Inc. on the Philippine Stock Exchange. Joining him on stage are his siblings Jack Gaisano director, Edward Gaisano, chairman and CEO of Vicsal, and Margaret Gaisano-Ang, director. PSE executives witness the milestone led by chairman Jose Pardo, president and CEO Hans Sicat, and directors Vivian Yuchingco, Emmanuel Bautista and Alejandro Yu. (CDN PHOTO/TONEE DESPOJO)

    “We are ready to compete with other industry players in serving our value-conscious market and be a leading and well-admired retailer,” Gaisano said in a statement issued after the ceremony.

    Metro, retail arm of Vicsal Development Corp., is the fourth largest retailer in the country, after SM, Puregold and Robinsons. It is the largest department store and hypermarket operator in the Visayas.

    The company is embarking on an aggressive expansion program that will see 50 to 70 new stores in the next five years, bringing the company’s network to more than 100 stores.

    This will double Metro’s footprint from the current 400,000-square meters for 46 stores, said Metro President and Chief Operating Officer Arthur Emmanuel.

    “About 100,000-square meters have been secured, including stores that will open in partnership with Megaworld and Ayala. These should open in the next two years,” said Joseph Conrad M. Balatbat, investor relations head of Metro, in a press conference after the bell-ringing ceremony.

    Margaret Gsaisano-Ang holds up the image of Sto. Nino, Cebu's patron, at the Philippine Stock Exchange in Makati as Sinulog dancers perform a dance offering on stage for a touch of Cebuano culture. (CDN PHOTO/TONEE DESPOJO)

    At least seven stores are slated to open next year, including one in northern Cebu and another in the south. Four other stores will serve as anchor stores of Ayala developments while one will rise at the Megaworld mixed-use complex in Iloilo.

    About half of the 50 to 70 new stores that will open in the next five years will be in the Visayas while the rest will be in Luzon and Mindanao, where Metro has yet to establish its presence.

    “The Visayas is our priority. We see the Visayas growing much faster than Luzon. Based on Euromonitor, retail penetration in the Philippines is only 28 percent. It’s much lower in the Visayas,” Balatbat said.

    The bulk or 67 percent of the IPO proceeds will fund this aggressive expansion. The rest will be used for mergers and acquisitions.

    Balatbat said they were in talks for the acquisition of more neighborhood stores that will be rebranded as Metro Fresh N Easy.

    FIRST TRADING DAY

    The Metro stock, with trading symbol MRSGI, opened strong at P4.30 and closed at P4.13, about 3.5 percent higher than the IPO price of P3.99.

    The listing followed an initial public offering (IPO) that issued 905.4 million common shares and raised about P3.6 billion.

    This milestone occurred 33 years after the first store — then called Metro Gaisano — was opened in Colon Street in  Cebu City in 1982.

    Before the bell-ringing ceremony, Sinulog dancers in colorful costumes performed on the trading floor and on  stage as company representatives waved Metro flaglets.

    Metro Retail is run by siblings Margaret, Jack, Edward and Frank. Their parents Victor and Sally, from whose names Vicsal was coined, started Metro with a store in Colon Street that had to compete with seven others in 1982.

    There are currently 46 Metro stores across three retail formats — department store, supermarket and hypermarket (Super Metro) — in the Visayas and Luzon. Twenty-six of these stores are in Cebu and the Visayas.

    With its listing on the PSE, Metro joined three other Cebu-based companies that have tapped the capital market: Cebu Property Ventures and Development Corp. in 1992; and Cebu Holdings, Inc. and Vivant Corp., both in 1994. Aboitiz Equity Ventures and Aboitiz Power Corp. were still based in Cebu when they went public in 1994 and 2007, respectively. Both are now based in Manila.

    “This reflects our confidence in the capital markets. We believe the Philippine economy is one of the least vulnerable among the emerging economies. We continue to leverage on this positive sentiment on our economy,” Gaisano said during the press conference.

     

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  • Daiso, Robinsons Retail to strengthen PH partnership

    Daiso, Robinsons Retail to strengthen PH partnership

    Daiso Industries Ltd. is impressed with the growth of the Daiso Japan store chain in the country.

    Japan founder and President Hirotake Yano was recently in the country as one of the speakers of the 17th Asia-Pacific Retailers Convention and Exhibition (APRCE) Manila 2015.

    He also met with officials of Robinsons Retail Holdings Inc. (RRHI), appointed franchisee in the Philippines of Daiso Industries. RRHI is led by Robina Gokongwei-Pe, Wilfred Co and Katherine Michelle Yu.

    Yano added that he is very happy with the growth of Daiso Japan in the Philippines. “I first came here four years ago and observed that it was experiencing a very competitive growth, one that was comparable to Daiso in Japan.  I am actually quite proud of this development.”Yano reaffirmed the strong and exclusive partnership between the two companies as he expressed his satisfaction over the Supreme Court’s final ruling in June this year, preventing Japan Home Center (JHC) from using the trademark Daiso.  He reiterated that RRHI is Daiso’s only authorized and licensed partner in the Philippines. It will be recalled that Daiso Industries Co., Ltd filed a complaint with the Intellectual Property Office against Japan Home Center (JHC) in 2009.

    There are now 44 Daiso Japan stores in the Philippines and over 2,400 stores in 30 countries around the world.

    Both Yano and Gokongwei-Pe reiterated the strength of their business collaboration that was sealed in 2008. “I am very confident with the leadership of the Robinsons Group as our Daiso Industries’ exclusive retailer in the Philippines,” he said. “That is why I look forward for continued growth as customer demand increases.”

    Gokongwei-Pe is likewise very optimistic about the expansion of the Daiso Japan brand. “We brought it here knowing that it is a big brand from Japan that offers good quality and affordable products. That, for me, is the best combination that is very much suited to the Philippine market. The items in our stores are the real Daiso merchandise from Japan.  There is a guarantee behind the name and the partnership that we have with Daiso Industries,” Gokongwei-Pe said.

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  • Thai e-commerce firm expands to Metro Manila

    Thai e-commerce firm expands to Metro Manila

    Ascend Group, Thailand’s leading e-commerce retailer, has launched iTrueMart.ph e-commerce website to serve the Philippine market as it sees a huge potential in the country, with the onset of the Asean Economic Community.

    iTrueMart.ph aims to become the dominant e-commerce player in the Philippines by 2017, says Punnamas Vichitkulwongsa, chief executive of Ascend Group, the company behind iTrueMart.

    Following its success in Thailand, iTrueMart is now looking to expand into the Asean Economic Community with the Philippines as its next destination, he says. iTrueMart.ph hopes to bring an unrivaled shopping experience with access to a variety of products, various payment channels, and competitive pricing that are currently only available for metropolitan shoppers to customers in all provinces in the Philippines.

    “E-commerce will have huge potential when the AEC fully materializes,” says Vichitkulwongsa.

    According to a study by Ystats SE Asia eCommerce, the volume of Asean’s mobile Internet users rose 56 percent in 2015. Up to 56 percent of the Thai and Vietnamese populations are now accessing the Internet via their smartphones, a figure close to the Philippines’ 50 percent rate. “Recognizing the growing number of mobile-Internet users, we are confident that online shopping in the region will also grow. The AEC is an emerging and interesting market for e-commerce through which entrepreneurs can expand their businesses,” says Vichitkulwongsa.

    “At present, iTrueMart has already been tapping into the AEC market with over $150 million Uinvestment planned for 2016. The investment will be used for e-commerce optimized fulfillment centers, logistic hubs, expansion of our own fleet, marketing, and ramping up assortment and inventory. We are debuting our operations in the Philippines and that will be followed by Vietnam, Indonesia, Myanmar, Cambodia, Malaysia and Singapore later in 2016. We are committed for long-term success in the Philippines and everywhere else that we go to,” he says.

    Seubsakol Sakolsatayadorn, general manager of the iTrueMart division at Ascend Commerce, says iTrueMart.ph is not a newcomer to the market as the team is backed by the strong success of iTrueMart in Thailand. “During the past year, the number of visits to iTrueMart.com has increased by as much as 424 percent. Since October 2014, the average number of visits recorded was 4.6 million per month. iTrueMart.com receives 7,000 orders per day on average, with the highest volume of daily orders at 10,000. This marks the highest record in Thailand’s online retail industry,which puts iTrueMart.com at the forefront of Thailand’s e-commerce sector. Moreover, iTrueMart.com’s delivery averages at two days throughout Thailand and it enjoys the lowest e-commerce return rate in the country which confirms the trust and shows the high quality of the products offered on the website,” says Sakolsatayadorn.

    Dean Krstevski, chief operating Officer E-Commerce of Ascend Group, says the decision to launch in the Philippines stemmed from the fact that competition in the e-commerce sector in the Philippines is still considered low. “With the market still in its infancy, there are still plenty of opportunities for new players. Now that the e-commerce market is being developed, brands are increasingly looking for partners to sell their products online, which we see as a great advantage that will help us speed up our market entry. We are confident of our success in the Philippines because we have a strong team with extensive experience in both online and offline retail,” says Krstevski.

    Under the slogan “Great Value, Everyday,” iTrueMart.ph works only with authorized distributors of international brands and act as authorized dealer of local brands so customers can be guaranteed that all products on the website are genuine. The current focus of the site is on smartphones and gadgets and it will expand into consumer electronics, computers and laptops, health and beauty and moms and kids in the future.

    iTrueMart.ph offers free delivery and free returns with cash on delivery payment as an option for customers. To deliver the best possible end-to-end customer experience, iTrueMart.ph is starting off delivery in the Luzon area and will further expand from the beginning of next year. iTrueMart.ph is targeting to have 100 vehicles in its delivery fleet by the year-end, operating out of its own fulfillment center in Pasig.

    With 45 percent of the traffic coming from mobile devices, iTrueMart.ph has a mobile version while a mobile application will be rolled out by the first quarter of 2016.

    “iTrueMart.ph is determined to become the dominant e-commerce player by 2017 and the second largest e-commerce player by the end of this year through partnerships with key local brands and authorized distributors, as well as attractive Christmas campaigns, where customers are offered great value and guaranteed delivery before Christmas Eve. Our goals are to be the top-of-mind e-commerce brand, to have great assortment at best prices, to provide the best end-to-end customer experience and to become the most trusted online shopping platform,” says Krstevski.

  • SM Prime opens third mall in Cebu

    SM Prime opens third mall in Cebu

    SM Prime Holdings, Inc., one of the leading integrated property companies in Southeast Asia, opens today its newest regional landmark, SM Seaside City Cebu.

    In a disclosure to Philippine Stock Exchange, SM Prime said this is its 56th mall in the country, and the third mall within Cebu – along with SM City Cebu and SM City Consolacion.

    The new destination mall provides an additional 430,000 square meters (sqm) in gross floor area (GFA), expanding SM Prime’s total retail space to 7.3 million sqm in the Philippines.

    SM Seaside City Cebu is the first of many developments in the 30-hectare SM Seaside Complex which SM Prime president Hans T. Sy said will take about five years to fully develop.

    SM Seaside City Cebu, located within the SM Seaside Complex at the South Road Properties (SRP) in Cebu City, is the first of its kind in urban development in the SRP.

    As the anchor development, the mall is slated to transform the city’s landscape as SM Prime builds residences, offices, an arena, a five-star hotel, and convention centers.

    The Complex features “The Cube”, a steel sculpture that symbolizes strength and stability of Cebuanos and its consistency reflects SM’s continued commitment to excellence.

    “We are inspired by the success of our Mall of Asia Complex in Pasay City, the first lifestyle city project or mixed-use development that offers retail, residences, offices, hotels and convention centers,” Sy said.

    He added that “we are replicating this concept of ‘lifestyle cities’ in Cebu as we open the SM Seaside City mall. We see Metro Cebu as one of our important growth corridors in Visayas and Mindanao following our growth track in Metro Manila.”

    The new destination mall will open with 80 percent of space lease-awarded which serves as the new home to flagship stores of well-known local and international brands. It will also be the venue of unique and world-class events and entertainment.

    The shopping mall will have anchor tenants such as The SM STORE, SM Supermarket, Forever21, UNIQLO, Our Home, Ace Hardware, SM Appliance Center, Watson’s, The Body Shop, Kultura, BDO Unibank, and Chinabank.

    SM Seaside City Cebu is the newest architectural jewel of SM Prime with its nautilus inspired design of concentric arcs from a central multi-purpose space featuring a “Seaside Tower,” a 147-meter iconic viewing tower which offers a sensational panoramic view of the entire city.

    A Sky Park provides a  unique setting for diverse dining outlets situated in an elevated garden with soothing water features. The mall will have a skating rink, eight cinemas houses and 5,000 parking slots.

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  • iTrueMart enters Philippines, plans to invest $55 million

    iTrueMart enters Philippines, plans to invest $55 million

    iTrueMart, Thailand’s leading e-commerce retailer, has launched its first e-commerce site in the country, iTrueMart.ph, and targets to be the dominant local e-commerce player in two years.

    In 2016, the online retailer, one of the companies under Bangkok-based Ascend Group, plans to invest over USD$150 million (more than P7 billion) in the ASEAN Economic Community (AEC) as part of its regional expansion.

    “The investment will be used for e-commerce optimized fulfillment centers, logistic hubs, expansion of our own fleet, marketing, and ramping up assortment and inventory,” announced Ascend Group CEO Punnamas Vichitkulwongsa.

    “We are debuting our operations in the Philippines. Vietnam, Indonesia, Myanmar, Cambodia, Malaysia, and Singapore will follow later in 2016. We are committed for long-term success in the Philippines and everywhere else that we go to,” he underscored.

    “Competition in the e-commerce sector in the Philippines is still considered low. With the market still in its infancy, there are still plenty of opportunities for new players,” Dean Krstevski, Chief Operating Officer E-Commerce of Ascend Group, reasoned.

    “Now that the e-commerce market is being developed, brands are increasingly looking for partners to sell their products online, which we see as a great advantage that will help us speed up our market entry. We are confident of our success in the Philippines because we have a strong team with extensive experience in both online and offline retail.”

    They are investing about US$4-5 million in the Philippines this year and easily $50 million in 2016.

    The Philippines is iTrueMart’s second destination in AEC, bringing access to a variety of products, various payment channels and competitive pricing currently limited to metropolitan shoppers.

    “E-commerce will have huge potential when the AEC fully materializes,” confirmed Ascend Group CEO Punnamas Vichitkulwongsa.

    According to a study by Ystats SE Asia eCommerce, the volume of ASEAN’s mobile Internet users rose 56% in 2015. Up to 56% of the Thai and Vietnamese populations are now accessing the Internet via their smartphones, a figure close to the Philippines’ 50% rate.

    Recognizing the growing number of mobile-Internet users, the Ascend Group is confident that online shopping in the region will also grow.

    Furthermore, “iTrueMart.ph is not a newcomer to the market as the team is backed by the strong success of iTrueMart in Thailand,” according to iTrueMart General Manager Seubsakul Sakolsattiyathorn.

    During the past year, the number of visits to iTrueMart.com increased 424%.

    Since October, 2014, the retailer averaged 4.6 million  visits per month. iTrueMart.com receives 7,000 orders per day on average, with the highest volume of daily orders at 10,000, the highest record in Thailand’s online retail industry.

    Add to that, iTrueMart.com’s delivery averages at two days throughout Thailand and it enjoys the lowest e-commerce return rate in the country.

    Under the slogan “Great Value, Everyday,” iTrueMart.ph works only with authorized distributors of international brands and act as authorized dealer of local brands so customers can be guaranteed that all products on the website are genuine.

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