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Tag: Retail

  • Hong Kong Retail Sales Growth Slows More Than Expected In July

    Hong Kong’s retail sales growth eased at a faster-than-expected pace in July, preliminary figures from the Census and Statistics Department showed Monday.

    The retail sales volume rose 1.9 percent year-over-year in July, much slower than previous month’s 4.3 percent climb, revised from the 4.4 percent gain reported earlier.

    Economists had expected a 2.8 percent increase for the month. Sales have been rising since February.

    Meanwhile, in value terms, retail sales declined 2.8 percent annually in July, exceeding economists’ expectations for a 1.3 percent drop. In June, sales had fallen 0.4 percent.

    On a seasonally adjusted basis, the value of total retail sales decreased by 1.4 percent in the three months ended July compared with the previous three-month period and the volume of retail sales also fell by 0.9 percent.

    The value of sales of jewellery, watches and clocks, and valuable gifts decreased by 5.0 percent in July from a year ago, while sales of commodities in supermarkets grew by 0.4 percent.

    “Retail sales growth in volume terms moderated in July, partly dragged by the further slowdown in inbound tourism and partly also due to the impact of stock market correction on consumer sentiment,” a government spokesman said.

    “The near-term performance of retail sales will continue to hinge on inbound tourism growth and on whether there would be any negative spillover from the increased stock market volatility of late.”

    “The Government will monitor closely how the rapidly changing external environment may affect the retail business going forward.”

     

  • Coach to exit landmark location in Hong Kong

    Coach to exit landmark location in Hong Kong

    Leather goods maker Coach Inc. is shutting one of its three flagship locations in Hong Kong, the latest retailer to be hit by the drop in the number of mainland Chinese visitors to the city amid a slowing economy and weaker yuan.

    The store towers above Queen’s Road Central in the central business district of a city where high rents and labour costs, as well as slowing sales, have hit other retailers.

    Coach said the store would close on August 31 but said it remained committed to the Hong Kong and China markets. Earlier this month, Coach said its mainland China sales grew 9 per cent year-on-year to $595 million in fiscal 2015, but growth in Hong Kong and Macau was slower.

    “Sales growth in China was driven entirely by the mainland, as Hong Kong and Macau continued to experience traffic declines from a decrease in PRC (People’s Republic of China) tourists,” Chief Executive Victor Luis said.

    For this fiscal year, China sales growth is forecast to slow to about 5 per cent, the company said. Chinese tourists have been the main customers of Hong Kong’s luxury retailers, but the slowing economic growth and the recent devaluation of the yuan have dented their once voracious appetite for goods ranging from cosmetics to luxury watches.

    Tighter visa rules and a flare up of anti-Chinese sentiment in Hong Kong have also contributed to the decline in mainland visitors. Hong Kong’s retail sales fell for the fourth straight month in June.

  • Xiaomi Mi 4C Retail Box Surfaces, Confirms Snapdragon 808

    Xiaomi Mi 4C Retail Box Surfaces, Confirms Snapdragon 808

    Xiaomi was incredibly successful last year. The company managed to become China’s number one smartphone OEM and ship 61 million smartphones. Xiaomi is looking to improve upon that next year, and they’ve released a number of really compelling handsets thus far. The company has unveiled their flagship Mi Note phablets, along with a slew of other devices, like the Mi 4i for example. This is the first Xiaomi handset to make it to India before anywhere else, and it’s more than a decent mid-ranger, not to mention it’s quite affordable.

    Well, we’ve spotted another variant of Mi 4i in China recently, dubbed Mi 4C. The reports have been claiming that the ‘C’ stands for China, and the device has also surfaced on TENAA (China’s equivalent to the FCC) quite recently. The device was said to sport Qualcomm’s Snapdragon 808 64-bit hexa-core SoC, and a newly-leaked retail box of the device actually confirms that fact. If you take a look at the provided images, you’ll notice that not only the Snapdragon 808 is listed here, but some other details about the device as well. The box says that the Snapdragon 808 will be clocked at 1.8GHz, and that the device will ship with 3,000mAh battery. 4G LTE support will be on board as well, and the device will also sport the Type-C USB 3.0 port that we’ve seen on the OnePlus 2 (and a couple of other smartphones) recently.

    According to the previously-leaked AnTuTu listing of this device, this thing will be identical to its predecessor (aside from SoC, of course). The phone will sport a 5-inch 1080p (1920 x 1080) display, 2GB of RAM and 16GB of internal storage. The 13-megapixel shooter will be available on its back, and a 5-megapixel snapper will be located up front. Android 5.1.1 Lollipop will come pre-installed on this smartphone, and Xiaomi’s MIUI OS will be placed on top of it. We still don’t know which variant of MIUI will be installed though, MIUI did unveil MIUI 7 recently, but it’s still unknown if this phone will come with that version pre-installed. Either way, Xiaomi is expected to announce this handset soon, so stay tuned.

  • European Markets Dropped On Renewed China Worries

    European Markets Dropped On Renewed China Worries

    The European markets ended Monday’s session in negative territory, as renewed concerns over China weighed on investor sentiment. Concerns over the upcoming snap elections in Greece and the likelihood of a near-term U.S. interest rate hike also contributed to the negative mood at the start of the new trading week.

    The Financial Times reported that the Chinese government has decided to abandon attempts to boost the stock market through large-scale share purchases. Senior regulatory officials told the Financial Times China’s leaders feel they mishandled their efforts to rescue the stock market.

    The Chinese government resumed large-scale stock buying late in the trading day last Thursday to help the Shanghai Composite Index finish sharply higher, but officials said the government will refrain from further large-scale buying of equities.

    The Euro Stoxx 50 index of eurozone bluechip stocks decreased by 0.52 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.30 percent.

    The DAX of Germany dropped by 0.38 percent and the CAC 40 of France fell by 0.47 percent. The SMI of Switzerland finished higher by 0.45 percent, but the FTSE of the U.K. was closed for a banking holiday.

    In Frankfurt, Volkswagen decreased by 1.14 percent. Japan’s Suzuki Motor Corp said that it would buy back the 19.9 percent stake it sold to the German automaker after an international court settled a dispute between the automakers over their soured partnership.

    BMW fell by 0.90 percent and Daimler lost 0.97 percent.

    Insurer Allianz rose by 0.18 percent, on reported that its infrastructure arm is weighing bids for London City Airport.

    RWE sank by 4.25 percent and E.ON dropped by 1.60 percent.

    In Paris, Renault surrendered 2.28 percent and Peugeot weakened by 1.19 percent. Car parts maker Valeo also decreased by 1.45 percent.

    Total tumbled by 0.91 percent and Technip lost 0.99 percent.

    Givaudan gained 0.73 percent in Zurich, after it agreed to acquire Induchem Holding, a cosmetic ingredient producer.

    Shares of NeuroVive Pharmaceutical AB plunged by 39.13 percent in Stockholm after the mitochondrial medicine company announced that it would not pursue development of CicloMulsion in the indication of acute myocardial infarction.

    Eni SpA climbed by 1.53 percent in Milan. The company announced over the weekend that it has discovered a massive natural gas discovery off the coast of Egypt.

    Eurozone inflation remained unchanged at a very low level in August as further fall in oil prices curbed its ability to move upward. Inflation came in at 0.2 percent in August, the same rate as seen in July and June, preliminary data from Eurostat showed Monday. It was forecast to ease to 0.1 percent.

    Germany’s retail sales rebounded in July to grow at the fastest pace in nine months, signaling that consumer spending boosted economic growth at the start of the third quarter. Retail sales advanced 1.4 percent on a monthly basis in July, Destatis reported Monday. This was the fastest growth since October 2014, when sales climbed 1.8 percent.

    Italy’s retail sales dropped for the second straight month in June, figures from the statistical office Istat showed Monday. Retail sales fell a seasonally adjusted 0.3 percent month-over-month in June, following a 0.2 percent decrease in the previous month. In April, sales had risen 0.7 percent.

    Greece’s retail sales declined in June after rising in the previous month, preliminary figures from the Hellenic Statistical Authority showed Monday. The volume of retail sales decreased 0.4 percent year-over-year in June, in contrast to a 4.1 percent sharp gain in May, which was revised down from 4.2 percent. In April sales had fallen 1.8 percent.

    China’s trade deficit in services widened in July, the State Administration of Foreign Exchange said Monday. The deficit on trade in services increased to $17.6 billion in July from $14.9 billion in June. At the same time, the merchandise trade showed a surplus of $46 billion in July.

    Business activity in the Chicago area unexpectedly grew at a slower rate in the month of August, according to a report released by MNI Indicators on Monday. MNI Indicators said its Chicago business barometer dipped to 54.4 in August from 54.7 in July. While a reading above 50 indicates growth, economists had expected the index to inch up to 54.9.

  • Hong Kong banks launch hotline to fight back against torrent of phone scams

    Hong Kong banks launch hotline to fight back against torrent of phone scams

    All retail banks in Hong Kong have set up hotlines for customers to verify the identities of their employees in a bid to battle a flood of phone scam cases.

    Banking chiefs said yesterday the hotlines – some exclusively for the purpose of verifying employees’ information – would be available through the websites of the Hong Kong Monetary Authority and Hong Kong Association of Banks, with each of the 21 retail banks also putting hotline information on their websites.

    Phone scams have evolved and increased in recent months, with scammers posing as bank employees trying to sell products to government departments and even the central government’s liaison office. Hongkongers have handed over more than HK$182 million over the past couple of months in cases that most often involve fake mainland officials.

    However, the authority’s deputy chief executive, Arthur Yuen Kwok-hang, said so far banks had received only 200 calls regarding cold-callers.

    “The numbers are low – much lower than we anticipated. I think this is because there isn’t this awareness among the public yet,” said Yuen.

    Yesterday, the Mandatory Provident Fund Schemes Authority – which handles the retirement funds of Hongkongers – received an inquiry about a suspicious call from its hotline. The MPFA confirmed the hotline only took incoming calls and reiterated that “it never contacts people to sell MPF products or set up meetings”.

    HKAB chairman George Leung Siu-kay said banks would never ask for full personal information of clients over the phone or by email.

    “[A bank employee] will only ask for partial information – like the last three digits of a Hong Kong identity card number,” said Leung. “They will never ask for passwords.” He also warned against calling back phone numbers on the caller ID.

    Leung said there were no statistics on the number of scam cases banks had dealt with since July, but they would “keep watch for suspicious transactions, especially among vulnerable groups”.

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  • Hong Kong mobile operator SmarTone prepares retailers to join the mobile e-commerce bandwagon

    Hong Kong mobile operator SmarTone prepares retailers to join the mobile e-commerce bandwagon

    Mobile network operator SmarTone Telecommunications hopes to roll out its new service called “Kiss” this December as the first batch of retailers in the city have signed up for the ambitious offline-to-online marketing and payments platform.

    “We’ve already started signing up stores, including [those run by] medium-sized retailers. Some bigger retailers are looking at it, too,” Douglas Li, the outgoing chief executive at SmarTone told the South China Morning Post.

    Li, who drove the platform’s two-year development, said SmarTone “should run Kiss for five to seven years to fully realise the value of how uniquely focused the platform is to help retailers”.

    He said there could be an opportunity to license the platform’s technology to telecommunications network operators outside Hong Kong.

    “It’s an internet business so the actual cost of implementation is not huge. The only question is how quickly it can scale up,” Li said. “If it does well in a foreign country, the sky’s the limit.”

    Launched last month, Kiss enables retailers to connect with consumers through a platform that links digital marketing and loyalty programmes with data analytics and mobile payment.

    Merchants are charged a monthly fee and provided with tools to create their mobile storefronts on the platform, directly message customers and launch targeted campaigns.

    “Retailers need to adapt to new thinking because the world has changed,” Li said. “You need only look across the border to see how online and mobile [e-commerce] are impacting the traditional bricks-and-mortar retailers. We’re offering retailers in Hong Kong a way to get into this [kind of operation].”

    Alibaba Group, JD.com Ctrip.com and Qunar have become China’s leading business-to-consumer e-commerce platform operators by providing convenience, choice and low prices to entice people to buy goods and services online through smartphones and tablets.

    Research firm eMarketer has forecast mobile e-commerce sales to make up 10.9 per cent of total retail sales in China next year and 55.5 per cent of all online retail shopping as the sector grows 51 per cent to US$506 billion, up from an estimated US$334 billion this year.

    “We hope to build a critical mass of connected retailers in Hong Kong so that Kiss will have a strong appeal for consumers,” said SmarTone chief technology officer and recently named interim chief executive Stephen Chau Kam-kun.

    Chau said SmarTone was signing up a mix of merchants with “high-value, low-frequency buyers” and “low priced, high-frequency buyers”.

    Kiss, operated by SmarTone subsidiary Kissco Marketing Services, also includes in its package a single-purpose Android tablet as tap-only mobile payment terminal, capabilities for customer data analytics and a Bluetooth beacon for the store, configured to push greetings and promotions to nearby consumers with the free Kiss app.

    Consumers use the Kiss Wallet feature to store credit card details, retailer cash credits and promotional Kiss Dollars. Kiss Pay is the digital token used for purchases and redeeming rewards.

    UnionPay International is the launch credit card partner for Kiss, although efforts are underway to add Visa and MasterCard.

    Li, , who resigned in April, said he left “a roadmap” to be implemented over the next two years to further develop the Kiss platform.

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  • Milan Station’s interim sales in Macau drop 78.6 per cent

    Milan Station’s interim sales in Macau drop 78.6 per cent

    Luxury handbag store chain Milan Station Holdings Ltd. has reported a sharp 78.6 per cent year-on-year decline in its retail revenue derived from the Macau market for the first six months of this year, the company announced in its results filing with the Hong Kong Stock Exchange.
    The company said its business in the city has been significantly affected as the gambling industry and tourism trade had ‘hit their troughs’. Milan Station’s retail revenue in Macau in the interim period was HK$11.8 million, representing 5.7 per cent of overall sales revenue.

    During the interim period, Milan Station closed its retail stores in Macau; while its points of sale in ‘exclusive clubhouses’ was unsatisfactory.
    By price range of product, revenue derived from Milan Station’s items priced at above HK$50,000 – comprising over half of the company’s sales revenue – saw a 31.1 per cent year-on-year decline to HK$118.3 million. As Milan Station has also sold less in Hong Kong, Mainland China and Singapore, the retailer’s overall retail revenue plunged 36.6 per cent to HK$208.8 million.

    The company said its loss for the period decreased significantly by 65.6 per cent to HK$6.8 million, under what it called ‘effective cost control’ and a one-off gain of about HK$12 million from the disposal of a property.

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  • Vietnam leads SE Asian smartphone rush

    Vietnam leads SE Asian smartphone rush

    Vietnam is the fastest growing smartphone market in South East Asia, where sales topped $8bn in the first half of the year according to new figures.

    Data from market researcher GfK indicated that, overall, some 39.8m smartphones were sold in the region, up from 36.6m in the corresponding period of 2104.

    Sales volumes in Vietnam rose 27% in the first half of 2015 compared to the same period a year earlier to reach to total of 6m, making it the third largest smartphone market in the region, Inside Retail Asia reported.

    Thailand was the second-fastest growing market, up 13% to a total of 6.6m, a figure which also put in second place in terms of market size. The Philippines was the third fastest-growing market, up 10%.

    Indonesia, however, remains the largest market in terms of volume, with 14.9m units shifted in six months.

    Sales growth was sluggish in the mature markets of Singapore and in Malaysia, where consumers have cut back on their spending since the introduction of a general sales tax.

    GfK has also started tracking the mobile handset market in Myanmar and reported that 3m units had been sold in the first half, with most of these being smartphones (89%).

    “The availability of a wide range of lower price options nowadays have made it possible and much more affordable for price-sensitive consumers in these developing markets to switch over and own their first smartphone,” said Gerard Tan, GfK account director for technology.

    He pointed out that in the first half of 2013 just 15% of smartphones sold in the region had cost under $100, a proportion that has now climbed to 35%.

    Indonesia, he added, was the country with the most number of entry level smartphone brands and consumers in the region.

    This transformation is being almost entirely driven by Chinese brands, which now account for around 25% of the region’s market compared to 4% in 2013.

    “The perception of Chinese brands has been elevated considerably as a result of their heightened marketing campaigns and the opening up of dedicated showrooms and retail counters,” Tan said.

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  • Happy Fresh pilots next hour grocery delivery in Southeast Asia

    Happy Fresh pilots next hour grocery delivery in Southeast Asia

    Groceries delivered to customers’ doorstep in an hour by professional shoppers. This was the promise of online grocery delivery service Happy Fresh when it started last March in Kuala Lumpur and Jakarta.

    Today, the service is available as well in Bangkok and will soon open in Taipei.

    “Our plan is to become Southeast Asia’s leading food marketplace company, and we want to operate in all major, traffic-congested mega cities in the region,” said Markus Bihler, Group CEO and Co-founder of HappyFresh.

    Bihler is optimistic that online grocery delivery in the region is poised for take off.

    “The outlook for the retail industry in Southeast Asia has never been more promising. Opportunities abound in this region with its ever more sophisticated and food-loving consumers, growing populations and steady economies,” he said, adding that Kuala Lumpur and Jakarta, in particular, are very interesting markets.

    “Spending power and credit card penetration are higher in KL than in Jakarta, and in general people are more used to buying things online there. Jakarta, on the other hand, is interesting because we really feel we can solve a huge problem here. We all know about the infrastructure challenges this city faces, and the traffic problems this often leads to,” he explained.

    Happy Fresh believes that with online grocery shopping, it’s one fewer trip customers need to make, which often translates into several hours saved that they can now spend on other activities.

    “In Indonesia, Bihler he said middle and upper-income consumers will continue to drive the growth of modern, online retailers as customers are increasingly quality-conscious, demanding higher levels of service and quality,” Biller said.  “Demand for processed foods and dairy is growing, particularly in urban areas, driven by changing lifestyles as people work longer hours and seek greater convenience.

    Happy Fresh targets to bring the service to the capital cities of Southeast Asia one step at a time.

    Though it does not plan to set up a physical store, it partners with the most established offline grocery retailers in a locality. In-house trained professional shoppers who pick  the best fresh products for customers also provide an advantage.

    Delivery hours are based on the opening hours of its partner stores, which is usually between 10 a.m. and 10 p.m.

    “Our message to our partners is simple: Focus on what you are really good at, which is running grocery stores. Then let us help you bring your brand and your products to an incremental set of customer groups: those one mobile devices, those who would like to order from their home, office or wherever they happen to be, and those who value the convenience of next hour delivery,” he said.

    Happy Fresh also strive to help partners reach customers that are normally outside of their catchment area or would have otherwise ordered a pizza rather than next hour ingredients for home cooking.

    Bihler said they offer ready to use solution to its retail partners at no upfront cost, a  fleet of drivers, and customer service agents. “In short: we help supermarkets grow, reach new customers and move into digital,” he said.

    “The food industry is among those that will always remain a physical, haptic, very sensual core. Yet – as any other – it will see heavy disruption by mobile technologies, ever-changing supply chains and faster lifestyles,” he added.

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  • Myanmar sets daily wage minimum to boost apparel manufacturing

    Myanmar sets daily wage minimum to boost apparel manufacturing

    Last year Gap Inc. was the first U.S. retailer to return to Myanmar for its apparel manufacture, a major sign of the potential return of the country’s once-thriving garment industry.

    But demonstrations by labor unions over working conditions and pay have hampered progress in the three years since U.S. sanctions were lifted, after which Myanmar also attempted its first minimum wage boost.

    Even with the increase in minimum wage that is apparently acceptable to most labor groups and factory owners, Myanmar will still have among the lowest wages in the world. And its standards for factory conditions are seen as lower than in Bangladesh, the site one of the deadliest garment factory collapses in history.

    The government was under pressure not to raise the wage too high out of fear that retailers would turn to South Korea, China, and other countries with established manufacturing. The wage is for eight-hour days in a six-day week; it doesn’t address overtime pay or working conditions. Last year Myanmar exported $1.5 billion of clothes and materials, up from $1.2 billion in 2013 and $947 million in 2012, according to the Global Trade Atlas.

    Still, the stability and the raise, if slight, is seen as an encouragement to more investment by U.S. and other apparel retailers, which can now count on an official wage structure to help them determine costs. Gap and H&M already source goods from there. The country’s economy is predicted to grow 8% this year, according to the World Bank.

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  • Retail building oversupply reaches alarming level in HCM City

    Retail building oversupply reaches alarming level in HCM City

    A Cushman & Wakefield’s report shows that the retail rent in the second quarter fell by 5 percent compared with the same period last year. Meanwhile, the supply is forecast to soar to 1.5 million square meters by 2020, 200 percent higher than today.

    According to Savills Vietnam, the total retail premises area which has been put into operation by August, had reached 940,000 square meters. It is expected that the market would have an additional 200,000 square meters from 10 projects.

    In the eastern part of HCM City, which is considered the ‘hottest spot’, at least 300,000 square meters of trading floor – a basement of apartment blocks – would become operational in 2015-2018.

    The retail supply boom in the eastern part of the city is attributed to the city’s policy on increasing infrastructure investment in the area. However, the existing shopping malls in the area remain poorly patronized.

    Viet An Hoa’s CEO Tran Khanh Quang warned that 300,000 square meters of retail premises was too high and may lead to an oversupply.

    The retail premises area in the southern part of HCM City has also been increasing. According to Savills Vietnam, there are about 151,000 square meters of modern retail premises under exploitation, including 60,000 square meters, or 40 percent, in Phu My Hung new urban area.

    It is expected that 80,000 more square meters of retail premises will hit the market by 2016.

    SC Vivo City (41,000 square meters), Crescent Mall (45,000) and Parkson Paragon (12,800) are the three largest shopping malls in the southern area of the city. But they are not crowded on week days.

    “The retail premises are in oversupply,” said Nguyen Van Duc, Deputy Director of Dat Lanh Real Estate.

    “Even the shopping malls in advantageous areas are deserted these days,” he said, adding that investors should not ‘be overly excited with retail building projects’.

    He went on to say that it was a ‘blunder’ for project developers to set up shopping areas in the basement of buildings.

    The shopping malls at apartment buildings, together with separate shopping malls above ground, will lead to an oversupply of retail premises.

    However, Le Thi Kim Hoa from Cushman & Wakefield is optimistic about the market, saying that the supply would force rental prices of retail premises down, which will benefit customers.

    Savills Vietnam’s Nguyen Thi Van Khanh noted that, compared with Bangkok, which has 8 million square meters of retail premises, and Singapore with 4 million, the retail premises total area of less than 1 million was ‘modest’.

     

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  • A 10-day sports extravaganza awaits in Singapore

    A 10-day sports extravaganza awaits in Singapore

    Singapore’s winning sporting streak continues with the upcoming BNP Paribas Women’s Tennis Association (WTA) Finals Singapore presented by SC Global at the Singapore Sports Hub from October 23 to November 1, 2015.

    In a culmination of what has been an exciting season, the top names in women’s tennis will come together for the WTA Finals. Household names like Serena Williams, Martina Hingis, Sania Mirza and many more will face off for court supremacy and a grand prize of US$7 million.

    A host of other events will also take place to complement the main action on court. The WTA Legends Classic will see tennis icons like Martina Navratilova and Arantxa Sánchez-Vicario playing for the fans’ delight while the WTA Rising Stars Invitational will give up-and-coming talents from Asia and the rest of the world a chance to play on Centre Court and make their mark on a world-class stage.

    Between matches, fans will have multiple opportunities to get closer to the action than ever before. Spectators can visit the outdoor Fan Zone, which will feature interactive tennis-themed games and star-studded player appearances. They can also witness the preparation secrets of their favorite tennis stars at the player practice sessions.

    Beyond the activities at the Singapore Sports Hub, fans can expect a star-studded extravaganza at the Singapore Tennis Evening at Marina Bay Sands on October 30. Fans and tennis stars alike will convene to celebrate the annual achievements of the best women’s tennis players, alongside the Southeast Asian debut of UK artiste Paloma Faith who will perform her hits.

    With Singapore’s Golden Jubilee in full swing, a slew of exciting flight, hotel, dining and retail deals have been lined up for this festive occasion. Singapore’s location at the heart of Southeast Asia also makes it easily accessible to tennis fans from around the region to catch all the action.

     

  • Sandara Park is newest int’l endorser of Pinoy fashion retail brand

    Sandara Park is newest int’l endorser of Pinoy fashion retail brand

    Korean super star Sandara Park whose road to international fame started in the Philippines decided to return to where it all started by endorsing a local fashion retail brand.

    “Hey guys! It’s me Sandara Park. And guess what? I’m the newest member of Team Penshoppe. I had a great time shooting my first campaign and I love the clothes,” Park said in an Instagram clip as she broke the news to her fans.

    The Korean superstar made the announcement Thursday with a caption, saying she’s “happy” to be the newest face of the local retailer.

    She also included a teaser photo of the campaign shot by photographer Cliff Watts who flew in from New York for the shoot.

    The shoot took place last month at Golden ABC’s Studio 1155 and Gallery.

    The long list of international celebrity endorsers include Cara Delevingne, Kendall Jenner, Nina Dobrev, Leighton Meester, Ed Westwick, Josh Bowman, Mario Maurer, Ian Somerhalder and the world’s highest paid male model, Sean O’Pry.

  • Henry Sy still Philippines’ richest man

    Henry Sy still Philippines’ richest man

    Property, retail and banking tycoon Henry Sy whose conglomerate owns the chain of SM Supermalls in his country and China has retained the title of the Philippines’ richest person for the eight consecutive year, with his net worth up $1.7 billion from last year to $14.4 billion.

    Forbes Philippines, which puts together the list, said Thursday that the value of Sy’s publicly traded conglomerates SM Investments rose 17 percent and SM Prime Holdings 20 percent over the past year. His companies announced record income from banking and retail businesses and two new mall partnerships in 2014. Sy also has a stake in privately owned power supplier National Grid Corp.

    John Gokongwei Jr. of JG Summit conglomerate that owns SM’s rival, mall chain Robinsons, is the second richest with a net worth of $5.5 billion.

    Forbes said Gokongwei moved up three spots after his company’s stocks rose 30 percent, boosted by revenue growth in its petrochemical business and investments in Meralco, the Philippines largest power distributor.

    JG Summit also has interests in food and beverage, airlines, telecoms, property development, banking, retail, and hotels.

    Forbes compiles the net wealth of the Philippines’ richest based on stock prices and exchange rates, with the value of private companies based on similar companies that are publicly traded.

    Alliance Global’s Andrew Tan climbed a notch to the third place despite a drop in his net worth to $4.5 billion from the previous $5.1 billion. His company’s stock price is 11 percent lower due to a drop in income from its resort and casino operations.

    Lucio Tan of LT Group whose businesses include stakes in beverages, tobacco, distilled spirits, banking and property was fourth with a net worth of $4.3 billion. Tan is also chairman of Philippine Airlines.

    Fifth was International Container Terminal Services’ Enrique Razon Jr., who is worth $4.1 billion.

    Rounding out the top 10 are George Ty, the Abotiz Family, Jaime Zobel de Ayala, David Consunji, and Tony Tan Caktiong.

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  • Krispy Kreme to open 10 shops in Myanmar

    Krispy Kreme to open 10 shops in Myanmar

    Krispy Kreme announced this week that it is set to open 10 shops in Myanmar over the next five years.

    Dan Beem, Krispy Kreme’s Senior Vice President and President – International, said with a growing economy and a population eager to welcome global brands, the time is right for the company to bring its sweet treats to Myanmar.

    The company has signed a development agreement with Singapore-based Doughnut Group Pte. Limited.

    “We’re confident the Krispy Kreme experience will be as meaningful in Myanmar as it is in Memphis or Manila, or anywhere else around the world where our signature sweet treats and coffee are served,” said Pote Narittakurn, owner of Doughnut Group Pte. Limited

    Krispy Kreme has more than 1,000 retail shops in 24 countries. Its  fundraising program has, for decades, helped non-profit organizations raise millions of dollars in needed funds.