US retailer Ashley Furniture HomeStore has opened its first Singapore outlet, in Kallang Way.
On the ground floor, the 7000sqft store offers items for the living room, dining room, bedroom, family spaces and home office. These include beds, clocks, sofas and vases from five lifestyle collections: Contemporary Living, New Traditions, Family Spaces, Vintage Casual and Urbanology.
The showroom offers the entire range of King Koil mattresses, as well as made-to-order sofas and sofa beds exclusive to Singapore. It also sell three types of the Sleepace sleep-tracking device. All products are also available online.
A second Ashley Furniture HomeStore will open in Sungei Kadut Drive next month.
Ashley SG
Ashley SG 1 1
Ashley SG 1 2
Over the next three months, Ashley will set up augmented and virtual-reality headsets to help customers better visualise how various items of furniture might fit into their homes.
Founded in 1945 in Wisconsin, Ashley Furniture has more than 800 stores in 45 countries, including China, Indonesia and Vietnam.
Food-delivery company Foodpanda Singapore has launched a 30-seater restaurant, Favourites by Foodpanda.
In Woodlands Avenue, the 3100sqft (288sqm) restaurant allows customers to pick and match dishes from nine restaurants such as Ichiban Bento, Crystal Jade Kitchen and Wingzone.
At the same time, the restaurant acts as a collective kitchen where customers in the nearby districts of Sembawang and Yishun can place delivery orders for the nine restaurants with a single delivery fee.
Foodpanda Singapore MD Luc Andreani says there was a demand in the northern part of Singapore for more delivery options, but many restaurants were unable oblige because of their more central locations.
“Favourites by Foodpanda offers brands an opportunity to expand output and reach a new customer base.”
This move follows Foodpanda competitor Deliveroo opening its first central kitchen last year. While not available to the public for dine-in, Deliveroo Edition gathers chefs from six different restaurants at a 2110sqft kitchen space in Katong to prepare delivery orders.
After setting up at Deliveroo Edition, New Ubin Seafood had a 600 per cent jump in delivery sales, says a Deliveroo spokesman.
Beyond R&B, furniture retailer HipVan is another online business that has opened its first permanent 11,000sqft flagship store at The Cathay in Dhoby Ghaut. Luxury e-commerce retailer Reebonz also opened an eight-storey, 200,000sqft outlet in Tampines last year.
Meanwhile, Foodpanda says it is looking to open another two outlets in Singapore by the end of the year.
Will Group Sdn Bhd, the master franchisee for Chatime in Malaysia, is eyeing the rights for Chatime in Singapore a year after it opens its first outlet there.
Chatime Malaysia group managing director Aliza Ali said it has obtained the green light from Chatime franchisor La Kaffa International Co Ltd to enter the Singapore market, where it will open two Chatime outlets in shopping malls this year and an outlet in Jewel Changi Airport in 2019 to gauge the market there.
“It (Singapore master franchisee) is something that we’re eyeing but let us prove ourselves to the principal (La Kaffa) first. If they see that we can manage the market in Singapore and if they’re happy with our performance, we will talk about the possibility (of being the Singaporean master franchisee),” she told SunBiz.
Aliza noted that there are existing bubble tea players that are doing well in Singapore, such as Koi, Gong Cha and LiHo. There is no Chatime in Singapore yet. Its rival Tealive is also not in Singapore, but has ventured into Vietnam and announced plans to go into Australia.
“This (Singapore) is a new market, we can’t just go in and want the master franchisee rights without showing that we are going to do it well. We have to open (outlets) first then only we can see how the market is. For us to jump in to be the master franchisee and put our investments there without knowing how we want to move ahead, wouldn’t be a smart move either,” she explained.
Aliza added that franchisors will usually save the exclusivity of a territory for a franchisee, while it markets the brand there. Once the franchisee has opened a certain number of outlets for a period of time, the franchisor will then award the master franchisee rights to the selected franchisee.
While Singapore is a feasible venture for Will Group, the bubble tea company is also entering the Middle East market, with plans to open Chatime outlets in Mecca and Medina this year.
There is already a Chatime master franchisee in the Middle East in Saudi Arabia (Jeddah) hence Will Group is aiming for Mecca and Medina where Chatime is yet to be present, under a sub-franchisee arrangement.
“We would like to have some exclusivity there (in the Middle East) but we’re aware that there is already a master franchisee so any planning would have to be done out of respect for the master franchisee there. It has to be something that the master franchisee is comfortable to grant us. With the help of La Kaffa, we would like to get our interest across to the master franchisee there,” said Aliza.
Its expansion plan into Singapore and Middle East comes after Chatime Malaysia obtained the halal food certification from the Department of Islamic Development Malaysia for its menu, paving the way for new avenues of business. It has outlined a five-year RM100 million expansion plan targeting over 150 outlets in Malaysia and internationally.
Will Group was offered the role of master franchisee for Chatime in Malaysia following a dispute that escalated between La Kaffa and ex-master franchisee Loob Holding Sdn Bhd last year, that saw the franchisor terminating the master franchisee contract with Loob.
Pizza Hut Singapore has introduced a robot that takes orders and processes payments.
In a five-day trial ending on Sunday, diners at the Safra Punggol Pizza Hut outlet will be the first in Southeast Asia to be able to try out the new technology. After the trial, Pizza Hut will consider customer feedback before deciding if the robot will stay.
Patrons are greeted with “Hello” in a female voice from the robot, and to place an order first must greet the robot and pair their Mastercard Masterpass account embedded in the Pizza Hut Singapore mobile app.
They can then tell the robot their orders and show a QR code that will provide their table information. The robot is not exposed to payment instruments or customer credentials, which minimises the chance of sensitive information being compromised.
“This initiative gives people more choices without ever compromising security, and provides more reasons for people to go cashless,” says Labs at Mastercard Asia Pacific VP Tobias Puehse.
The robot was developed by Japan’s SoftBank Robotics, which makes the Pepper robot used in customer service and retail. “We are focusing on how robots can help how people live,” says SoftBank marketing director Kan Kiyota. “The humanoid robot is an add-on to the value provided.”
Thousands of food and beverage (F&B) establishments in Singapore and the region dedicate themselves to serving freshly brewed cups of java or tea and delightful pastries every day. While many Asian countries have enjoyed the café culture phenomenon for many years, new markets like Myanmar, Laos, and Cambodia are now starting to witness the growth of the café industry in their countries.
To support the diverse needs of these thriving businesses, key players of the coffee, tea, and bakery industries converged at Café Asia 2018 today to foster new collaborations, explore opportunities, and to present the latest trends and developments to trade professionals and members of the public. The event was launched this afternoon by Guest-of-Honour, Mr Liang Eng Hwa, Chairman, Government Parliamentary Committee for Finance, Trade & Industry and Member of Parliament, Holland – Bukit Timah GRC Café Asia 2018, the International Coffee & Tea (ICT) Industry Expo 2018, and Sweets and Bakes Asia (SBA) 2018 concurrently offer a one-stop convenient sourcing hub for the industry. Spanning a gross exhibition area of 5,000 square metres, the shows are expected to attract over 10,000 baristas, café and coffee purveyors, coffee roasters, tea and baking ingredients suppliers, equipment distributors, and members of the public over the next three days.
A key highlight of the show this year will be the gathering of coffee industry experts at the inaugural ASEAN Coffee Symposium 2018. The symposium to be held tomorrow, will present and discuss important issues faced by the industry. These include thought-provoking topics such as role of women in coffee, social enterprise and sustainability of coffee in a changing climate, and how financial institutions can ensure a sustainable and traceable coffee supply chain to help small-scale coffee farmers. The panel discussion will be led by Mr Victor Mah, President, ASEAN Coffee Federation & Singapore Coffee Association and include key members of the ASEAN Coffee Federation.
Since it was first introduced to the market in 2013, Café Asia has featured distributors and suppliers of equipment, machinery, accessories, and other products for coffee and tea businesses, while ICT has presented the upstream sector of the coffee and tea industries to offer a complete showcase of supplies such as raw coffee beans and tea leaves, to processing and packing services for wholesale purchases and trading. With 142 exhibitors from 25 countries, the shows mark Southeast Asia’s largest annual gathering of the coffee, tea, and bakery industries, dedicated to the celebration of the burgeoning café scene across the region.
Since the emergence of hundreds of specialty cafés in Singapore over the past few years, consumers have been eager to keep up with the latest trends and innovations in the café industry, from nitro cold brews to siphon coffees, tea pairings to visually delightful desserts. According to Euromonitor in 2017, the bakery and confectionery sectors have been enjoying stable growth in Singapore. This includes internationally renowned bakeries setting up shop in Singapore, responding to the rising demand for quality bread, cakes and pastries. The appreciation for products with functional and health benefits is no surprise. This reflects consumers’ changing lifestyles, spurring innovative creations from F&B businesses in their bid to stay competitive.
The shows will be packed a comprehensive programme designed to impart deeper understanding of and appreciation for the trade and café industry. Businesses entering the booming digital economy will appreciate the e-commerce clinic presented by RedMart to help businesses understand the challenges of expanding online.
Visitors to the shows will also meet international experts including renowned cake designer Molly Eleonora Coppini and the Australian Tea Masters, the leading organisation for tea master and tea sommelier training in Australasia.
Five national-level coffee championships will see Singapore’s home-grown baristas, brewers, latte artists, and students contend in the Singapore National Barista Championship, Singapore Latte Art Championship, Singapore Brewers Cup Championship, Singapore Cup Tasters Championship, and the second edition of the Singapore Coffee in Good Spirits Championship. Winners of the respective national titles will represent Singapore on the international stage at the world championships later this year.
Café Asia 2018, the International Coffee & Tea Industry Expo 2018, and Sweets & Bakes Asia 2018 are organised by Conference & Exhibition Management Services Pte Ltd (CEMS). Café Asia 2018 and International Coffee & Tea Industry Expo 2018 are hosted by Singapore Coffee Association.
One Raffles Place Shopping Mall, a six-storey retail mall located in the heart of Singapore’s central business district (“CBD”) in Raffles Place and part of the iconic integrated commercial development One Raffles Place, is set for a revamp as it undergoes asset enhancement works scheduled to start in mid-2018.
The AEIs include improving the circulation areas of the mall, as well as creating more inviting and open retail space with better visibility. These upgrades will help provide a better shopping experience while simultaneously driving the per-squarefoot productivity of the mall.
The revitalised One Raffles Place Shopping Mall will create an exciting retail environment that addresses the changing needs and lifestyle preferences of the working population in the CBD. Another exciting change is the opening of a coworking space occupying more than 35,000 sq ft of space across a few levels at the
mall.
Spaces, a co-working concept by IWG, the world’s leading provider of flexible workspace solutions, will launch its flagship site at One Raffles Place Shopping Mall delivering a strong lifestyle-led workspace for a creative way of working for entrepreneurs and established businesses alike. The venue will provide a professional working environment founded on the principles of collaboration and inclusivity, while its authentic, European and considered design will reflect the company’s “Inspire to Work” philosophy.
Spaces at One Raffles Place is envisaged as a focal point for flexible workspaces given its vantage location in the heart of Raffles Place. A unique aspect of Spaces will be its ability to host and launch retail and fashion-related events within a mall setting. Its multi-level layout is expected to improve vertical traffic at One Raffles Place Shopping Mall, whilst direct access to Raffles Place Park and the incorporation of a strong F&B offering on the first level will make it a preferred choice for corporate gatherings and for catching up with colleagues and friends
after work.
Ms Tan Shu Lin, Chief Executive Officer of OUE Commercial REIT Management Pte. Ltd. which manages OUE Commercial REIT (“OUE C-REIT”), said, “Coworking spaces have been proven to create bustling work communities, and we are delighted that our partnership with Spaces by IWG will create more diversity and vibrancy for One Raffles Place Shopping Mall.
As the mall attracts high shopper traffic of close to one million each month, necessity services and food & beverage tenants will remain the mainstay of the retail offering. The presence of a co-working space will further enhance the
business traffic and synergy for One Raffles Place as an integrated commercial development.”
“For us, opening a Spaces site at One Raffles Place is such a wonderful moment. This area is well-known for its very high quality and standards; a perfect fit for our community who will expect excellence in the design of Spaces and in our level of hospitality. We also plan to support an energised business community of different industries, which will include the creative industries and fin-tech groups,” says Martijn Roordink, Co-founder of Spaces.
One Raffles Place Shopping Mall will remain operational during the asset enhancement period and the implementation phases are carefully planned to minimise disruption to both tenants and shoppers. The cost of the AEIs is not expected to have a material impact on OUE C-REIT’s gearing.
Singtel expects the service to launch mid-2018 in 20,000 points in Singapore and Thailand.
Travellers with Singtel’s mobile wallets could soon continue to use their home wallet app to make payments when overseas.
Singtel will link its mobile wallets across different ecosystems through an interoperable platform. It will begin with the mobile wallets of the company and its regional associates through the first commercial launch between Singtel and AIS, it said in an announcement.
“This will be the first time that different mobile wallets across different markets are connected to offer seamless cross-border payments at physical merchants,” Singtel said, “The initiative to expand the Group’s mobile wallet services underscores the continued commitment of Singtel and its regional associates to enhance the mobile payments experience for customers.”
The telco also noted that this will enable its 590 million mobile customers to securely and conveniently pay with their mobile wallets when they travel in Asia. “Other mobile payment apps can, in future, plug into the platform and gain ready access to the Group’s merchant and customer bases across the region,” it added.
Singtel International Group CEO Arthur Lang noted that the mobile payments scene in Asia today is fragmented with many different systems and this poses a challenge to the adoption of mobile payments. “As a Group, we believe we can bring about change through our cross-border interoperable platform and collaboration with like-minded partners. Our vision is to unlock the growth potential of mobile payments in the region by providing customers with a convenient, seamless experience, and helping small merchants widen their reach to millions of consumers.”
In 2017, there were more than 80 million tourist arrivals into Singtel Group’s markets in Asia. “As many small merchants are still unbanked in this region but smartphone penetration is high, mobile payments provide a simple and secure alternative to travellers who might not want the hassle of carrying large amounts of foreign currency with them,” Singtel said.
“With our customers’ digital lifestyles and the growth in intra-region travel, it is a natural progression for us to take our local mobile wallets regional first, by leveraging the strengths and reach of the Singtel Group in Asia,” Lang added.
The commercial launch of the service is planned for mid-2018 between Singapore and Thailand where Singtel and AIS have obtained regulatory clearance. This will enable over 1.5 million visitors travelling between Singapore and Thailand each year to use Singtel Dash and my AIS apps at a total of more than 20,000 retail merchant acceptance points in Singapore and Thailand.
The Group plans to progressively expand this service from the second half of 2018 to other regional associates, which include Airtel, Globe and Telkomsel, taking into consideration the respective country’s regulations.
Telkomsel CEO Ririek Adriansyah said, “Once we obtain regulatory clearance, we can provide TCASH customers greater convenience whether they are transacting locally or overseas, and give our local merchants new income opportunities from regional travellers.”
When Tan Tie Wee, 40, heard complaints from his colleagues in China about the hassle of filing for tax refunds overseas, he was motivated to start up something that can help simplify this process.
“Some said it was language difficulties. Some said they were pressed for time because they were in a tour group. So I suggested an app that could help them with the claims and they said if there was one, they would definitely use it,” Tan said.
He was working as PwC’s senior manager for indirect tax practice then, and he had spent two years working in China.
Tan was impressed by the country’s prevalent use of mobile payment apps and QR codes and figured that he could integrate it into his own venture.
He ended up quitting his job in 2015 so he could work on realising this ambition amidst other big players such as Global Blue, Premier Tax Free, and Global Tax Free in Singapore.
He then worked on developing Tourego (short for ‘tourist refund on the go’), an all-in-one app that acts as a mobile passport and e-wallet that stores tax refund tickets.
Launched just three months ago, the mobile app allows retailers to simply scan the QR codes which in turn generates digital tax refund tickets for tourists, replacing the current paper-based system.
This means that retail staff no longer need to take down the particulars of tourists when they issue tax refund tickets, which helps to effectively save time and manpower.
Senior Minister of State for Trade and Industry Sim Ann mentioned Tourego in her speech during the recent Committee of Supply debate, and said that such productive technologies allow staff to spend less time on routine or tedious tasks, and more time to provide better customer service.
On the other hand, tourists can also easily submit claims by scanning these e-receipts at the tax refund kiosks upon reaching Changi Airport.
With the digitisation of such process, tourists no longer need to worry about losing receipts when keeping track of their Goods and Services Tax (GST) refund claims.
Challenges On Starting Up
The traction of the mobile app has been enjoying positive traction so far.
Although exact user numbers weren’t disclosed, Tourego said that it has gotten 150 retailers – such as Robinsons, Zara, 1872 Clipper Tea Co, and RISIS – onboard since its launch.
But starting up the business wasn’t easy.
The process was much more tedious than he expected.
For starters, the startup needed to go through stringent checks before being given its license by the Inland Revenue Authority of Singapore (IRAS) last November.
According to IRAS, all central refund agencies that participate in the Electronic Tourist Refund Scheme (eTRS) have to meet necessary requirements to ensure that the GST refunds are properly administered, and that their systems are robust.
These include a technical certification process and IT audit.
But the start-up also managed to tap on Government schemes for support.
For instance, the Ministry of Trade and Industry’s Pro-Enterprise Panel facilitated cooperation with Government agencies to ensure Tourego’s solution complemented existing systems, said Ms Sim in her speech in Parliament.
The Singapore Tourism Board (STB) also featured Tourego on its VisitSingapore website and inbound trade newsletter, as well as displayed the start-up’s brochures at the Singapore Visitor Centre.
“With electronic payment platforms growing increasingly popular in Singapore, STB is pleased to support Tourego’s mobile application as it allows visitors to claim tax refunds in a more seamless and hassle-free manner in Singapore,” said STB.
The eTRS system in place right now already seeks to make Singapore’s tourist tax refund system less reliant on paperwork.
Since its roll-out in 2011, tourists no longer have to fill in different GST refund forms and queue at different counters to get the claims done.
Now, visitors can choose to swipe their chosen credit card at the self-help kiosks to retrieve records of their purchases. Alternatively, they can scan the eTRS tickets individually before indicating their preference for the tax refund method.
Competing Against Other Big Players
Other technology players also seem to have set their sights on this space.
China’s Alipay, for one, partnered Global Tax Free last year to allow Chinese tourists to make claims and have their tax refunds deposited directly into their Alipay accounts.
This instant tax refund service through the Chinese mobile and online payment platform, was made available in Singapore earlier this year.
Tourego App
As such, Tourego is working to roll out its other features that would eliminate the need for its users to present their passports at the point of purchase and allow them to skip the queue at the airport.
“We want everything to be done on the mobile phone,” said Tan.
“For registration, all you have to do is to scan your passport using our app. At the retail store, flash your QR code and a digital receipt will be generated automatically.
“Joining the queue at the airport is probably the most painful part of the refund process and we think this can be changed. My full solution will be to move the declaration process on to the app so that there will no need to stand in line at the various counters or in Singapore’s context, queue to scan your passport at a kiosk,” he added.
The start-up founder is also aiming to expand beyond Singapore though the navigation of various tax systems could be a hurdle.
“We have global ambitions to be a homogeneous global tax refund solution. It may be challenging but we will take one step at a time and first, we will show that it’s going to work here in Singapore.”
DBS announced the launch of the DBS Electricity Marketplace which will allow all households in Jurong (residents with postal code of 60, 61, 62, 63 and 64) to seamlessly switch to other retailers with the liberalisation of the retail electricity market in Singapore.
Around 108,000 households in Jurong will stand to benefit in this pilot phase.
As a start, DBS is working with two electricity retailers – iSwitch and Keppel Electric. During the pilot phase, all households in Jurong can search for various price plans that best suit their electricity needs on the DBS Electricity Marketplace. For DBS/POSB customers, they can apply directly with just a few simple clicks via DBS/POSB digibank and choose their preferred payment options. Once the switch is done, customers can look forward to their selected electricity plans provided by their new electricity retailer, without any service disruption.
Said Jeremy Soo, DBS Head of Consumer Banking Group (Singapore), “DBS Electricity Marketplace exemplifies how we are reimagining banking, using digital technology and innovation to make life simpler for our customers. Through our partnerships with alternative electricity retailers, we want to enable our customers to enjoy savings on their bills easily. Our insights also indicate that consumers want a fuss-free process to sign up for other electricity retailers, and we have made it easier and convenient for them to make the switch with just a few simple clicks on DBS/POSB digibank.”
Since 2001, the Energy Market Authority has been liberalising the electricity market in Singapore in phases and the pilot phase for residents in Jurong will start from April 2018. DBS is also working with other electricity retailers which will be made available to consumers at a later date.
Citi has launched its first natural language chatbot for Facebook Messenger in Singapore ahead of a wider roll out around the world.
The bot uses natural language processing to communicate with customers in an intuitive way, addressing their everyday questions about things like real-time account and transaction information.
Citi says that it has been piloting the bot with 600 customers and employees to refine the service, which also covers credit card bill summaries, rewards and points balances and frequently asked questions.
The bank has previously said that it plans a second phase to introduce more features such as card activation, ability to lock and unlock credit cards and transaction alerts for cards among others.
“Facebook Messenger is an exciting new way to access Citi and will greatly enhance our overall customer experience’” says Anand Selva, head, Asia Pacific consumer banking, Citi.
New York’s Black Tap Craft Burgers & Beer is about to make its Asian debut at Singapore’s Marina Bay Sands.
Paying homage to the great American luncheonette experience, it will offer classic craft burgers, craft beers and its colourful CrazyShake milkshakes.
Run my Michelin-starred chef Joe Isidori and restaurant/nightclub developer Chris Barish, Black Tap opened in New York in 2015.
Isidori earned his Michelin star while executive chef of fine-dining restaurant DJT, while Barish is known for the Gordon Ramsay Pub and Grill, and Gordon Ramsay Steak.
Black Tap Singapore will open in the third quarter at the South Promenade of The Shoppes at Marina Bay Sands, offering a casual vibe reminiscent of a classic American luncheonette and featuring ’90s hip hop and ’80s pop music. It will seat 150 guests.
A commissioned wall mural will depicts elements of urban life in Singapore.
One-year old sensor technology and parcel locker start up, Parcel Santa, has inked an agreement with Singapore Press Holdings and Buzz Express to utilize the latter’s extensive delivery network to make e-commerce deliveries to Parcel Santa lockers, located in Singapore condominiums.
Parcel recipients will be informed via SMS when their parcels are delivered to secured lockers, which they have up to twenty-four hours to collect, using a One Time Password (OTP). Recipients may choose to reschedule delivery to lockers or pay a small fee to extend the collection period.
The entire delivery process is monitored by Parcel Santa’s back office system, with sensors able to identify when authorized recipients have collected their parcels. The use of sensors and real-time communication ensures that parcels are received without repeated delivery attempts – which is in line with Parcel Santa and SPH’s corporate objectives to be environmentally friendly corporate citizens.
As part of this collaboration, non-perishable items delivered by SPH’s network may also leverage Parcel Santa’s back office system and lockers as an end-mile collection point by recipients.
The service offers the following benefits to the ecosystem:
Environmental Sustainability – minimizes the use of motor vehicles to make repeated delivery attempts
Safety and Security – parcels and couriers are pre-registered and tracked, and only authorized recipients may collect them
Consumer Empowerment – to facilitate e-commerce, shoppers can make purchases and not have to wait for delivery
Property Asset Enhancement – condominiums can offer this service with the latest customer-recognition, IoT (Internet of Things) and 3G/4G wireless transmission technology
Parcel Santa lockers have been installed in one hundred residential condominium locations across Singapore. The company is in the process of Series A fund raising to expand its target footprint of 500 condominium installations in Singapore – and initiate its expansion into the Southeast Asian region. With the latest addition of SPH, Parcel Santa’s delivery partners include DHL Express, FedEx, UPS and WMG Delivery. Once registered, couriers from partner companies may use Parcel Santa lockers to facilitate deliveries.
“Since launching one year ago, we have been playing catch up with increasing e-commerce activity in Singapore as the demand for online shopping and other deliveries is on the rise, said Mr. Jim Huang, Co-Founder and Chief Executive Officer of Parcel Santa. “The addition of SPH and Buzz Express’ networks is a very natural progression in partnering with one of Singapore’s most established delivery networks to provide wider convenience and brings great value to our customers”, he said.
“SPH has a long history of delivering media and parcels in Singapore, with a reputation of being always on-time and reliable, said Mr. Spencer Tan, Deputy General Manager of SPH. “With a delivery network of 3,000 delivery staff, SPH and its Buzz Express reaches every corner of Singapore as we deliver media and consumables. As we strive to become a Greener player in the end mile logistics industry, Parcel Santa offers a unique ability to prevent or minimize failed or missed delivery attempts”, he said.
Smiggle Asia is thriving, its success here encouraging the stationery retailer’s parent to expand in other global markets.
Smiggle, a subsidiary of Australian listed company Premier Investments, opened three new stores in Hong Kong in the first half of its current trading year and a further two in Malaysia. Both markets now have 13 Smiggle stores trading.
“The brand now expects to have between 17 and 19 stores operating in Malaysia within three years of first opening. This is well ahead of the original plan,” the company said in an earnings filing.
“The Smiggle Asia division had an exceptionally strong half. Singapore, the most mature of the Asian markets, enjoyed strong like-for-like growth with tourists providing valuable insights into potential new Smiggle markets.”
The brand achieved record global sales of A$170.7 million (US$131.6 million) in the first half, up 26.7 per cent on the same time last year, underpinned by the opening of 35 new stores. More than 60 per cent of Smiggle sales during the period were from outside Australia. Smiggle now has 332 stores across Australia, New Zealand, Singapore, England, Scotland, Wales, Northern Ireland, Hong Kong, Malaysia and Ireland.
The company will open a global flagship on Oxford Street in London in May as the UK business aims for $200 million in annual sales by next year.
Many Singaporean firms are interested in investing in food, agriculture, and dining services in Vietnam as they forecast that these sectors will thrive in the near future amidst broader ASEAN integration.
The statement was made by Andy Yun, Secretary General of Singapore Manufacturing Federation, representing more than 3,000 members operating in automation, biology, construction, heavy industry and more, during the second Vietnam – Singapore business exchange held in the island state last week.
Yun described Vietnam as a major market in the region with huge potential in agriculture and the food industry. Meanwhile, Singaporean enterprises are strong in technology, supply chains and logistics – a supplementary factor to the bilateral partnership.
Nguyễn Văn Thân, Chairman of the Vietnam Association of Small and Medium-sized Enterprises, led a delegation of over 100 Vietnamese firms, many of them start-ups, to the event.
He said many Singaporean enterprises actively connected with Vietnamese ones at the event, proving that bilateral cooperation potential is huge.
Accounting for over 97 percent of the total, Vietnamese SMEs contribute nearly 40 per cent of the gross domestic product, 33 per cent of industrial production value, 30 per cent of export value and attract more than half of the workforce, he said.
Singapore is now the sixth largest trade partner of Vietnam in the world and the second largest in ASEAN. Vietnam is also the 12th largest trade partner of Singapore. Two-way trade has grown 12-15 per cent annually over the past years.
Lazada has launched the first official Converse online store in Singapore and Malaysia.
The two companies say they have created “a curated brand experience” which showcases a diverse product offering.
The store opened on Friday and will expand later this year into Indonesia, Thailand, the Philippines and Vietnam.
“We look forward to providing Southeast Asian consumers with the broadest selection of Converse products and an elevated shopping experience via our Converse Official Store,” said Dan Brausch, VP of global partner markets with Converse.
Robin Mah, chief business officer with Lazada Group, said the store allows local fans of the brand to browse and purchase hundreds of styles for men and women.
Popular Converse ranges including the Chuck Taylor All Star, One Star and Chuck 70’s are all available in assorted colours, patterns and materials.
