Retail News CRM

Tag: playing

  • Vietnam Shakes Up Gold Market With New 0.1% Transaction Tax: Aiming for Level Playing Field in Asset Classes

    Vietnam Shakes Up Gold Market With New 0.1% Transaction Tax: Aiming for Level Playing Field in Asset Classes

    As per a newly enacted legislation on Wednesday, sales of gold bars will now be subjected to a 0.1% tax, as declared by the National Assembly. However, the responsibility of determining the tax threshold and the schedule of implementation has been delegated to the government.

    The Rationale Behind the Taxation

    The government has previously expressed its stance that taxing gold is a crucial measure in order to limit speculation and facilitate the redirection of more resources towards the economy. The establishment of a taxable threshold is aimed at excluding those individuals who engage in the buying and selling of gold as a form of investment rather than for speculation.

    Investment in gold is a common practice in Vietnam, and the act of selling gold has never been subjected to taxation in the past.

    Creating a Level Playing Field

    Industry analysts have voiced their opinions that the taxation of gold could potentially establish a more balanced environment for all asset classes. The domestic gold market has been a source of major concern for lawmakers due to its volatility, with gold prices witnessing a hike of over 80% since the beginning of the current year.

    At the time of publishing, the price of gold was hovering around VND153.7 million (equivalent to US$5,829.60) for a tael of 37.5 grams, marking 15% higher than the global rates.

    Questions & Answers

    Why has the government decided to tax gold sales?
    The government views this taxation as a necessary step to curb speculation and channel more resources into the economy.

    What does the establishment of a “taxable threshold” imply?
    The taxable threshold is intended to exempt individuals who buy and sell gold as an investment, not for speculation.

    How does this new tax regulation impact the domestic gold market?
    The new tax regulation could potentially create a more balanced field for all asset classes and help control the volatility in the domestic gold market.

  • Sim Leisur to open theme park at Paradigm Mall

    Sim Leisur to open theme park at Paradigm Mall

    Penang-based theme park developer Sim Leisure Group is to open an indoor recreational center at Paradigm Mall in Petaling Jaya, Malaysia.

    Sim Leisure has already started the construction of the 35,000sqft indoor recreational center which it will operate as a tenant for up to 12 years.

    It is scheduled to open by the end of November, before the peak year-end school-holiday season.

    Paradigm Mall is located in the heart of Petaling Jaya, next to the Lebuhraya Damansara-Puchong highway in Klang Valley. The six-floor mall has 700,000sqft of retail space and more than 300 retail spaces.

    Sim will build Escape Challenge, an indoor version of Escape, targeting youth and young families. Both Sim and the mall believe the new feature will help draw families to the mall, increasing foot traffic for the retail stores.

    “For years, we have been approached by developers and mall operators to develop an indoor version of Escape,” said Sim Leisure CEO Sim Choo Kheng. “Paradigm Mall Petaling Jaya is a strong community partner and perfectly highlights the unique traits of a family mall. We are very proud of this partnership given the affinity for play parks by parents and children. Installing the play area in the mall is a natural fit given that no other malls in Klang Valley have recreation centers of this genre,” he said.

    Sim will use the Escape Challenge at Paradigm Mall as a showcase of its capabilities as it tries to develop the indoor recreational concept in other markets, especially Mainland China.

    “We foresee this indoor version of Escape growing exponentially in the years to come as the retail shopping business continues to undergo a transformation.”

    “Following our initial public offering and a record year of profitability last year, our global aspirations remain on track. We will continue to scale our proven and successful business model into new markets across the region that are awaiting a new genre of affordable and healthy family entertainment.”

    Sim Leisure Group has been developing and operating theme parks in Penang. Sim Choo Kheng has more than 29 years of experience in the theming industry.

    Lees ook:

  • Toys“R”Us Asia brings smiles to kids and families in China through their record-breaking Children’s Day Toy Festival

    Toys“R”Us Asia brings smiles to kids and families in China through their record-breaking Children’s Day Toy Festival

    Celebrating Children’s Day with families and kids across China, through a vast offering of experiential offsites, special promotions and exclusive toy ranges, Toys”R”Us Asia announces a record-breaking Y-o-Y sales growth of over 25% in China, on the first weekend of June.

    The strong business results for Toys”R”Us Asia in China on June 1 can be attributed to millions of happy in-store customers, as measured through a record-breaking number of transactions. Kids and families got to enjoy a significant increase in exclusive product ranges offered through Toys”R”Us China’s vast network of over 180 permanent stores and over 100 experiential offsites, set up specifically to celebrate Children’s Day.

    Nicholas Green, Managing Director of Toys“R”Us China, said, “Toys“R”Us is the ultimate destination for kids of every age. Our top priority is to support families with fun and interactive shopping experiences so they can access the very best products for entertainment and learning. The recent record-breaking business results for Toys“R”Us China over the weekend of International Children’s Day is a strong sign that customer demand in this market is on the rise and is a testament to the company’s success and growth, both in the offline and eCommerce space. We plan to open over 50 new stores in China in 2019 alone, and we are confident that our offering to customers will only continue to strengthen.”

    Andre Javes, President and CEO of Toys“R”Us Asia, commented, “In the coming year, Toys“R”Us Asia is planning to open over 65 stores across Greater China, Japan and South East Asia, to meet the growing demand for imaginative and educational play. We will be rolling out even more immersive experiences and inspiring content to showcase the infinite possibilities of toys – offering up the most relevant toy choices for every development stage of childhood.”

    At the end of the previous fiscal year, Toys”R”Us Asia posted strong business results, as well as growth in their STAR CARD loyalty program and several investments in new stores, store renovations, eCommerce and IT infrastructure.

    Lees ook:

    Lees ook:

  • Kidsland launches FAO Schwarz store in Beijing

    Kidsland launches FAO Schwarz store in Beijing

    China’s largest toy retailer and distributor Kidsland has introduced FAO Schwarz, an international toy brand store with 157 years of history, in its first Asian flagship store.

    The FAO Shwarz Beijing flagship is located inside the Kidsland flagship store at China World Mall in a prime shopping and lifestyle district.

    Staff wearing soldiers’ uniforms from Grimm’s Fairy Tales are positioned at the entrance to greet and escort customers into the 30,000sqft store, interacting with customers throughout the shopping experience. The store also features “toy demonstrators” who invite customers to play with the toys. The “Toy Soldiers” and demonstrators are overseas-trained and make up 20 per cent of the staff.

    Founded in 1862, FAO Schwarz is one of the oldest toy stores in the world. The brand returned to New York last November with a new 20,000sqft flagship at Rockefeller Center in Manhattan.

    Kidsland has a comprehensive online and offline integrated sales network within China. In December it counted 257 independent stores in 44 cities within the region, along with 519 self-operated consignment counters and 931 distributors covering more than 3000 additional points of sale. Kidsland also represents multiple brands in operating 18 online stores in China.

    “The introduction of FAO into China reflects our confidence in the potential of the Chinese economy and market development,” said chairman and CEO of Kidsland Lee Ching Yiu. “We believe there is strong demand for quality toys among families and young people, so this is an important advantage for Kidsland to provide quality experiential retailing there. In this way, we hope to serve as a bridge, enabling Chinese consumers to experience the latest and best toys in the world.

    “FAO Schwarz plans to open a large flagship and several medium-sized stores in China in the next two years. We will also establish a kidsland experiential retail flagship store, and in the coming one to two years, we will open a mid-sized kidsland retail store to bring an enriched retail experience to wider spectrum of the public.”

    Lees ook:

    Lees ook:

  • Official Online Nintendo Store Opens Doors in Hong Kong

    Official Online Nintendo Store Opens Doors in Hong Kong

    An official Nintendo Hong Kong online store has opened this week.

    The new storefront eplaces a former Nintendo page that offered download codes which could be redeemed on WhatsMall.

    Now fans of the Japanese game platform can buy software online direct from the manufacturer.

    The Nintendo Hong Kong e-commerce site offers download codes for a range of Nintendo Switch and Nintendo 3DS games along with DLC, reports fansite NintendoSoup.

    The site features multiple languages as well, along with Chinese: American and UK English, Canadian French, French, Latin America Spanish and Spanish.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • Hamley’s set to be sold to Indian Toy Retailer

    Hamley’s set to be sold to Indian Toy Retailer

    Toy retailer Hamleys is set to have its fourth owner in 15 years since it was taken private by an Icelandic investor.

    According to multiple Indian news media reports, Reliance Retail is in the final stages of negotiations with China’s C.Banner International, which has been trying to find a buyer since last October, after three years of ownership.

    C.Banner bought the business in 2015 for US$130 million, but has struggled to produce a profit. The company reportedly lost $15.6 million in 2017 on sales down 2.5 per cent to $86.5 million.

    Sources in India are speculating Reliance Retail will pay between $36 and $50 million, representing a substantial loss for C.Banner on exiting the brand.

    Reliance Retail, a subsidiary of the giant Indian conglomerate Reliance Industries, is in acquisition mode as it tries to expand its business by 30 per cent annually for a decade, an ambition on a scale probably only realisable in India right now. As at the end of last year it operated 9907 stores across 6400 Indian cities with a combined retail area of more than 21 million sqft. Its retail licenses and partnerships include Marks & Spencer, Diesel, Steve Madden and Kenneth Cole.

    “Due diligence for the Hamley’s deal is at an advanced stage,” a source told Money Control, itself a subsidiary of Reliance Industries. “Reliance Retail is aggressively pursuing the deal.”

    Reliance Retail is already the Indian licensee of Hamley’s and operates 50 stores under the banner, representing the toy brand’s largest market by store numbers. There are plans to open 150 more.

    Toy retailer Hamley’s was founded in 1760 as Noah’s Ark. It has about 129 stores globally, including a Regent Street, London flagship and stores in China, Germany, Russia, South Africa and the Middle East. A foray into Vietnam in 2015 ended in failure, however the company still sells toys online there.

    If the acquisition proceeds, it will help boost Reliance Retail’s portfolio. “Reliance can scale up Hamley’s business with its capabilities in supply chain management and strong distribution network.”

    Lees ook:

    Lees ook:

    Lees ook:

  • Google Maps update brings Nokia’s classic Snake Game

    Google Maps update brings Nokia’s classic Snake Game

    The classic Snake game that made its debut on Nokia phones back in 2007 and achieved popularity not long after, is now available to all Google Map users. Well, let’s say that a very improved version of that game can now be played by Android and iOS users directly in Google Maps.

    Apparently, Google continues the tradition of celebrating April Fools with a long-lasting gag that will be available to those using some of its services on mobile and desktop. This year Google has decided to make Maps the main platform of its gag.

    All Android and iOS users will be able to play Snake on their phones and achieve high scores by picking up as many passengers and visiting as many iconic locations as possible. You’ll be able to play in different locations across the world, such as Cairo, London, San Francisco, Sao Paolo, Sydney, and Tokyo, or simply choose to play in the World.

    In order to start playing Snake, you’ll have to open the Google Maps app, tap on the menu icon on the top left corner, then select “Play Snake” to start playing directly in the app.

    Depending on what city you chose to play in, you’ll have to gather passengers with your ever-growing train and visit important locations around the world, including Big Ben, the Great Sphinx of Giza, and the Eiffel Tower.

    The Snake game is now rolling out worldwide on Android and iOS and will be available from within the Google Maps app for about a week.

    Lees ook:

    Lees ook:

    Lees ook: