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Tag: Singapore

  • Mamonde launches Singapore site on Lazada

    Mamonde launches Singapore site on Lazada

    Korean beauty products brand Mamonde has launched an e-commerce site on Lazada to introduce its skincare and makeup products into Singapore.

    Mamonde’s USP is using flower extracts in its products. Camellia, hibiscus, honeysuckle, lotus and magnolia blooms are hand-picked and frozen or heat dried, with the active ingredients then being extracted.

    Mamonde Lazada SG

    There are plans to also open a physical store in Singapore eventually, says Amorepacific, which also owns the brands Etude House, Innisfree, Laneige and Sulwhasoo.

    “Launching digitally first in Singapore was a deliberate move that allows us to observe consumer purchasing habits before scaling up operations in the market,” says Amorepacific Asean regional head Robin Na.

    “While the beauty industry in Singapore is mature, we believe that consumers there are still hungry for new brands.”

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  • Mujosh eyewear to open in Vietnam

    Mujosh eyewear to open in Vietnam

    Hong Kong-headquartered Mujosh eyewear is about to open its first store in Vietnam.

    The edgy brand, which made its international debut in Malaysia just last year, will open a store inside Saigon Center in Ho Chi Minh City. The mall houses the Takashimaya department store along with the first Japanese-headquartered Owndays shop in Vietnam.

    The store is undergoing fitout with a billboard promising an opening in “mid-March”.

    Established in 2010, Mujosh describes itself as “an innovative fashion eyewear brand” which combines unique elements and styles into frame designs.

    “Appreciating creative ideas, valuing the value of handicraft, cherishing the original touch of materials, Mujosh is deeply loved by fashion icons and wearers.”

    The brand also has stores in Singapore (on Haji Lane), Thailand and Australia. It plans to open 1000 stores globally within five years.

    Owned by Photosynthesis Group Co, Mujosh is the company’s first brand to go international since it started its international business expansion at the beginning of 2015.

    Edmonton marks Canadian debut

    Meanwhile, Mujosh opened its first store in Canada, a flagship in West Edmonton Mall, the largest shopping centre in North America. The mall hosts about 32 million visitors per year; between 90,000 and 200,000 daily.

    Among early customers was one who said she had become familiar with the brand while travelling in Shanghai and Singapore.

  • Guerlain and Shilla open new Changi T1 ‘exclusive outpost’

    Guerlain and Shilla open new Changi T1 ‘exclusive outpost’

    Between March 1 to April 12, Changi Airport and its exclusive perfume and cosmetics retailer The Shilla Duty Free have teamed up to create ‘an exclusive Outpost’ within the Terminal 1 Cosmetics & Perfumes central store to mark the launch of the brand’s new fragrance – Mon Guerlain.

    Located next to the transit departure hall this new presentation is designed to give visitors and customers ’a rare glimpse’ of the brand’s DNA and heritage, utilising a an olfactory journey of Mon Guerlain with a Fragrance Organ display.

    This is designed to provide ‘compelling insights’ into the story behind the Mon Guerlain fragrance and how it was created. The Mon Guerlain creation was first imagined by Thierry Wasser, the famous fifth Guerlain perfumer and it was turned into reality ‘for the extraordinary, sincere and authentic woman’, says Guerlain.

    ‘RECOGNISING THE AMBIGUITY OF MALE AND FEMALE SCENTS…’

    It adds that the fragrance begins with the base notes of Tahitensis Vanilla, along with subtle notes of Carla Lavender, Sambac Jasmine and Santalum Album Sandalwood.

    The company said: “The result is an exceptional fragrance that reconciles the divide and ambiguity of masculine and feminine scents. Mon Guerlain comes beautifully encased in a quadrilobe bottle, an iconic design that owes its name to its unique stopper, formed from a solid piece to attain the shape that resembles four lobes.

    “Angelina Jolie is the muse who inspired the birth of Mon Guerlain and her love for tattoos is widely celebrated through the new fragrance. Perfume is likened to having an invisible tattoo on the skin, and drawing on this unique concept, a Guerlain Tattoo Atelier has been specially created at the Outpost to complement and deliver a unique experience to travellers.

    TATTOO ARTISTS ON HAND…

    “A tattoo artist will be present at selected timings to create beautiful gold tattoo art that expresses the spirit and DNA of Mon Guerlain. Travellers can choose from six preset Guerlain flash tattoos, or even enjoy a customised hand-drawn gold tattoo adapted from preset designs.”

    Guerlain says travellers ‘are also in for a riveting treat’ as the Fragrance Organ display includes a grand showcase of the limited edition Mon Guerlain Bee Bottles, an exclusive exhibit at this Outpost, which is also available for sale.

    An emblematic symbol of the Guerlain House, the Bee bottle pays tribute to the beauty, elegance and charm of Her Majesty Empress Eugénie, wife of Napoleon III. Embodying extreme precision and refinement, each Bee bottle is painstakingly dressed in baudruche and embellished with silk cords by the skilful hands of Guerlain’s nimble-fingered craftsmen.

    Commenting on the initiative Guerlain’s Regional Director Travel Retail Asia Caroline Teichteil said: “Guerlain is thrilled to present its first-ever Outpost at Singapore Changi Airport. Mon Guerlain is a fragrance that embodies modern femininity and we believe that this collection will greatly resonate with the stylish globe-trotter and become a must-have essential in their beauty kit.”

    PERSONALISED SHOPPING EXPERIENCE

    Teo Chew Hoon, Changi Airport Group’s Senior Vice President of Airside Concessions added: “The innovative and interactive concept of the Guerlain outpost will further elevate the retail experience at Changi. Whether it is exploring the exclusive exhibition of the Mon Guerlain Bee Bottles, or visiting the Guerlain Tattoo Atelier, travellers can expect a personalised shopping experience filled with surprises.

    Raelene Johnson, Head of Global Merchandise Division, The Shilla Duty Free added: “The Shilla Duty Free has always been committed to working closely with Changi Airport and our brand partners to present exciting experiences for our global shoppers.

    “The Mon Guerlain Outpost offers activities that give travellers an immersive, multi-sensory experience. We are also thrilled to educate shoppers about the artisanal craft behind Guerlain’s fragrance-making as they discover the intricacies of the perfumery world through the eyes its perfumer,”

    SIZES AND ADDED INCENTIVES…

    The new fragrance is available as a 50ml Mon Guerlain EDP Fragrance (S$133.00) or 100ml (S$189.00) and Tier 1 Customers will receive a miniature Mon Guerlain EDP fragrance (5ml) with every purchase of the 50ml Mon Guerlain EDP fragrance.

    Tier 2 Customers will receive a miniature Mon Guerlain EDP fragrance (5ml) and body lotion (30ml) with every purchase of the 100ml and Tier 3 will be given a miniature Mon Guerlain EDP fragrance (5ml), body lotion (30ml) and mini candle with a minimum spend of S$430 (including a Mon Guerlain EDP fragrance of any size).

    Last, but not least, ISHOPCHANGI.COM customers will receive a Mon Guerlain EDP miniature and an exclusive Guerlain bracelet with any purchase of the Mon Guerlain EDP fragrances (50ml or 100ml).

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  • Maria Grazia Chiuri collection for Dior pop-up

    Maria Grazia Chiuri collection for Dior pop-up

    Singapore is among seven international cities where Dior is launching pop-up stores to unveil its spring/summer ready-to-wear collection, the first designed by its new creative director Maria Grazia Chiuri.

    Dior pop up4

    Dior pop up3

    Dior pop up2

    Dior pop up

    The pop-ups revisit the Dior heritage in a contemporary spirit with a message, says the French luxury group.
    Los Angeles and Paris are first with the stores, with the roll-out continuing in Japan, Dubai, Seoul, Beijing and Shanghai.

    Singapore’s Dior pop-up opens at Ion Orchard on Thursday and will be open until March 22.

  • DFS To Host Sixth Edition of the Prestigious Masters of Wines and Spirits in Singapore

    DFS To Host Sixth Edition of the Prestigious Masters of Wines and Spirits in Singapore

    This March, DFS Group (DFS), the world’s leading luxury travel retailer, in partnership with Changi Airport Group, will host its sixth annual Masters of Wines and Spirits in Singapore. The most celebrated event of its kind in the industry, Masters of Wines and Spirits showcases DFS’ global travel retail leadership, innovation and unique ability to assemble bespoke collections of wines, spirits and their leading producers, as well as the expertise of its own in-house specialists.

    “We are thrilled to return to Singapore for our sixth Masters of Wines and Spirits this March and deliver another exceptional collection of the world’s finest and rarest wines and spirits,” said Philippe Schaus, DFS Chairman and Chief Executive Officer. “This year’s exclusive collection has been globally sourced and carefully curated by our expert merchants at DFS to inspire and excite both novice and seasoned collectors. At the core of this portfolio lies an unwavering passion for the intricate composition of a bottle and for the unforgettable moments each offering is sure to create.”

    More than 60 of the finest Cognacs, wines and whiskies from over 50 legendary houses will be unveiled during the Masters of Wines and Spirits private event, to be held at selected shophouse venues along Singapore’s historic Tras Street on Saturday, March 25, 2017. As well as being the first to view the collection, VIP guests will be given the opportunity to interact with brand ambassadors while delving into the creation of each bottle in a master class format which will take them around the world in a virtual experience.

    “The collection captures the heritage and craftsmanship of our selected brands, and is a true reflection of DFS’ long-standing relationships with these exceptional houses. Masters of Wines and Spirits provides access to prominent producers and their in-depth knowledge, and of course their limited edition products, many of which are extremely rare or one-of-a-kind exclusives to DFS that represent the ultimate expressions in Cognacs, wines and whiskies,” added Brooke Supernaw, Senior Vice President Spirits, Wines and Tobacco, DFS Group.

    Master Class Event

    The Masters of Wines and Spirits event will feature four exceptional master classes to inspire and enrich the experience for guests. In honor of his 50th year in the whisky industry, Richard Paterson, Master Blender of The Dalmore will host a bespoke tasting showcasing The Dalmore’s rich heritage and artistry. Frederic Dezauzier, Global Brand Ambassador of CAMUS, will introduce guests to the smallest and rarest cru in the Cognac region: Borderies, providing a unique tasting experience featuring a selection of CAMUS Borderies Single-Cru Cognacs, including a Borderies Vintage and an exclusive Borderies blend that has never been released. Then, travel through time with Thibault Pontallier, Château Margaux Asia Ambassador, who will conduct a vertical tasting across decades of Château Margaux, including the 1990 vintage of Château Margaux.

    The fourth Master Class will be a Whisky Panel by The Whiskey House, entitled Innovations of Today Shaping the Heritage of Tomorrow. The theme of heritage in the world of whiskies will be discussed with Brian Kinsman, Malt Master at Glenfiddich, David Charles Stewart, Malt Master at The Balvenie, Mike Miyamoto, Global Brand Ambassador for Hibiki, and Brendan McCarron, Head of Maturing Whisky Stocks at Glenmorangie. This will be moderated by DFS’ own Director of Spirits, Frederik Vanden Bulcke.

    The Collection

    Twenty-seven Cognacs and whiskies include the LOUIS XIII Le Mathusalem, which showcases the world’s first 6L crystal decanter for cognac, CAMUS Rarissimes 65 YO, an exclusive blend for DFS that is composed from the finest eaux-de-vie, Martell Grand Champagne 1920, a very rare first time release since The House of Martell was founded in 1715.

    Making its official debut outside Japan for the first time is the Hibiki 35 YO Arita-Yako and Kutani-Yaki limited editions, a blend of carefully selected malt whiskies aged from 35 to 54 years, and grain whiskies aged over 35 years. From the world of Scotch Single Malts, the Bruichladdich Special Release showcases some of the brand’s oldest and finest whiskies, Glenfiddich Rare Collection 1972, a sublime and precious 44-year old malt (hand-picked for DFS’ Masters of Wines and Spirits), Glenmorangie Pride 1974, Glenmorangie’s rarest, oldest and deepest whisky, carefully selected from the oldest whisky stocks, The Dalmore 50 YO, a commemorative bottling uniquely finished in Champagne casks, and The Macallan Fine & Rare Treasury Collection, a rare collection of  30 vintages in a bespoke cabinet created exclusively for DFS.

    Over 25 prestige wines and Champagnes are showcased in this year’s collection. Amongst these are outstanding bottles from the Champagne and Bordeaux region such as the Pyramid of Château Margaux 1990 Vintage, a collection of four bottles from the year’s vintage earning the coveted 100 points score from Robert Parker. Recently released from the Château cellar in 2016, the Château Lafite Rothschild 1982 Vintage Imperiale is a unique wine offering with an extraordinary nose of caramelized herbs, smoke and cedar, available in a 6L format. Château Mouton Rothschild 18 Vintages includes extraordinary vintages from 1994 to 2012. Only three series were produced exclusively for Masters of Wines and Spirits, and they are specially packed in individual one bottle cases. Dom Pérignon Malle P2 offers the full history of the Sécond Plénitude of Dom Pérignon – the ultimate collection of the ultimate Champagne. With two bottles from each of the 10 vintages, the buyer will also receive an invitation to a private tour of Hautvillers in Champagne, where Maison Dom Pérignon is located.

    Available for the first time for sale by a retailer, Masi 5 Vintages of Amarone Costasera is a presentation case of five vintages of Costasera Amarone Classico, Masi’s flagship wine, along with a beautifully designed timepiece made with 100-year old wood once used for maturing Costasera wine. Penfolds 2012 Bin 707 Cabernet Sauvignon Imperial brings an opportunity for oenophiles and aviation enthusiasts to own 10 limited edition bottles released to commemorate Boeing’s 100th year.

    Following the Masters of Wines and Spirits gala event on March 25, the Masters of Wines and Spirits curated collection will be available for travelers and shoppers at DFS, Singapore Changi Airport’s Wines and Spirits Duplexes at Terminals 2 and 3.

    DFS Masters of Wines and Spirits is part of the DFS Masters Series, a signature program of exhibitions that also includes the highly-anticipated Masters of Time set to take place in Macau this December. The Masters Series is a showcase of the pinnacle of DFS’ leadership and innovation in curating and creating exceptional experiences across its five pillars of luxury: Wines and Spirits, Beauty and Fragrances, Watches and Jewelry, Fashion and Accessories, and Food and Gifts.

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  • First CEIV Pharma Certification in Singapore for Bolloré Logistics

    First CEIV Pharma Certification in Singapore for Bolloré Logistics

    Bolloré Logistics Singapore was successfully awarded by the International Air Transport Association (IATA) as CEIV Pharma-compliant at its platform located in the Airport Logistics Park, and is one of the first transport and logistics companies in Singapore to receive this certification. The aim of Bolloré Logistics is to deploy this action throughout its global network with on-going certifications on other sites in Asia-Pacific, including in Australia, Hong Kong and Japan.

    This is a new success for the Bolloré Group, which shows its commitment to achieve the highest international quality standard in the global pharmaceutical supply chain for its customers, by continually improving its processes and infrastructures in compliance with the CEIV Pharma standards.

    With its modern and innovative facilities, the excellence of its quality management system, the expertise of its teams and its multiple certifications, Bolloré Logistics is a major global player in the supply chain of pharmaceutical products. Being certified by IATA CEIV Pharma, Bolloré Logistics Singapore fully conforms to all applicable pharmaceutical standards expected from pharmaceutical manufacturers in terms of facilities, equipment, operations and staff and being capable to provide seamless cool chain transportation.

    This global initiative, already in place on European sites in Paris Roissy CDG (France), Brussels (Belgium), Frankfurt (Germany) and Lisbon (Portugal) is also currently in progress on other sites such as Johannesburg in South Africa or Chicago in the USA. IATA created the Center of Excellence for Independent Validators in Pharmaceutical Logistics (CEIV Pharma) in 2015. It aims at setting the industrial standard for air cargo supply chain in pharmaceutical handling excellence.

    It addresses the industry’s need for more safety, security, compliance and efficiency, by creating a globally consistent and recognized pharmaceutical product handling certification. CEIV Pharma encompasses – even supersedes – many of the existing pharmaceutical standards and guidelines, such as IATA Temperature Control Regulations (TCR), European Union Good Distribution Practices (EU GDP), World Health Organization Annex 5, and United States Pharmacopeia Standards.

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  • See Singapore from $445 return flying Singapore Airlines

    See Singapore from $445 return flying Singapore Airlines

    With budget airlines such as Scoot now flying to Singapore, cheap flights to the Asian nation are a dime a dozen. However, if you’re searching for luxury on that long-haul journey, Singapore Airlines is one of the best carriers to take you there.

    The luxury airline currently has discounted fares to Singapore from $445 return, for flights departing from Perth.

    The last time we saw Singapore Airlines’ fares drop along these routes was in November 2016, where fares started from $515 return.

    These sale flights are for travel on select dates between 8 May and 21 October 2017. This includes select dates in June, which is an ideal time to visit Singapore as it’s the dry season and outside of the school holiday period.

    Sample fares in this sale include $552 return from Darwin, $600 return from Melbourne and $613 return from Sydney.

    Singapore Airlines is an all-inclusive carrier. These fares include checked-in luggage, in-flight entertainment and on-board meals.

    These fares are not part of any particular promotion and are available until sold out.

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  • Equinix to raise $2.8b ahead of Verizon asset purchase

    Equinix to raise $2.8b ahead of Verizon asset purchase

    Equinix revealed plans yesterday to raise at least $2.875 billion in public offerings over the next few weeks. The data center giant is lining up the necessary funds to make their previously announced purchase of a selection of US operator Verizon’s data center footprint.

    The assets include the former Terremark business and consist of 29 data centers spanning 2.4 million square feet across 24 sites and 12 metro areas.

    The footprint is mostly North American plus Sao Paolo down in Brazil. Nine of those metro areas already have Equinix facilities, while Houston, Culpeper, and Bogota will be some new turf for them.

    Equinix will be selling $1.75 billion of common stock, with underwriters having the usual 30-day option on another 15%, or $262.5 million.

    At the same time they will be selling $1.125B in senior notes due 2027. And they’ll be using $1.053 billion from their existing term loan B borrowings to make up the remaining piece, covering the $3.6B purchase price plus other fees and such.

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  • Starbucks’ New Cold Brew Mason Jar Is Only Available in Singapore

    Starbucks’ New Cold Brew Mason Jar Is Only Available in Singapore

    Starbucks has had an exciting few weeks, with the launch of its barrel-aged coffee, the announcement of its first location in Italy, and two new macchiato drinks. The company has added to this series of new products with the recent debut of cold brew in branded mason jars currently available in Singapore.

    Last year, the company sold mason jars with green caps in South Korea, but the new limited-edition version comes with a black cap instead.

    The jars are emblazoned with the classic Starbucks mermaid logo and appear to come with a screw-top lid.

    Don’t book your tickets to Singapore just yet; the company confirmed to Seventeen that the drinkware is only available in the Southeast Asian island “for now.”

    The mason jars are currently available for 8.90 Singapore dollars ($6.30) retail or SG$5.90 ($4.20) with the purchase of a cold brew.

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  • Citi, Visa Launch eProcurement Platform In Singapore

    Citi, Visa Launch eProcurement Platform In Singapore

    Reports Friday said the companies are rolling out an eProcurement platform, Renepay, based on a reverse auction business model. The network will include B2B suppliers across the country within various industries, including financial services, marketing, real estate, telecom, beverages and more.

    Customers of Citi’s Visa Commercial Card will have access to the Renepay platform and can take advantage of extended payment periods without interest when making purchases on the network. The platform also digitizes paperwork typically involved in procurement processes, reports said, and aims to reduce contract negotiation time.

    The platform processes electronic purchase orders, invoices and payments, Citi and Visa noted.

    “We recognize that corporate buying is very specialized, and we wanted to provide buyers a platform where they can interact with leading suppliers online and arrive at the best price through the online negotiation center,” said Visa’s Vikram Kshettry, head of B2B partnerships in Asia-Pacific.

    “At every step of the procurement cycle, we allow corporates to decide on what best works for them including what to purchase, which suppliers to transact with and the payment process which they would like to adopt,” added Renepay founder Firdaus Morgul in another statement.

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  • DBS to launch mobile-only banking service in Indonesia

    DBS to launch mobile-only banking service in Indonesia

    The Development Bank of Singapore (DBS) plans to introduce a smartphone-based mobile banking option for the Indonesian market as a way to further digitalize the banks’ operations and utilize digital innovation to its advantage.

    Digital transformation is part of a larger agenda for DBS, seeing that the need for digitalization is no longer seen by the banking industry as a threat to its business but as a tool of cooperation to innovate services, said Bank DBS Indonesia’s head of digital banking, Leonardo Koesmanto.

    DBS will open a new mobile-only bank in Indonesia in the early part of the second quarter of 2017 to promote a more digital, branchless and signature-less experience for its customers in this market. The system will function through biometrics and will require the presence of an electronic ID (e-KTP) to register or use its operations.

    “We are taking the more scalable digital route because these days, bigger banks are shrinking their number of branches. With this investment we can serve more people more effectively,” Leonardo said on Wednesday.

    It is likely that DBS’s mobile-only banking option in Indonesia will be rolled out through a soft launch around next month, in order to assess the feasibility of the technology and root out teething faults. The idea has already been tried by DBS in India.

    DBS currently has around 30 physical branches in Indonesia. Leonardo commented that in order for banks to truly achieve growth in a market, they would need 300 to 400 branches.

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  • SingPost boosts stakes in Indonesian entity

    SingPost boosts stakes in Indonesian entity

    It will benefit from the growing e-commerce market in the country. Singapore Post announced just recently that it will be upping its stakes in an Indonesian entity through Quantium Solutions International Pte Ltd.

    According to OCBC Investment Research, QSI has entered into a share purchase agreement with PT Rantai Bumi Laut (RBL) to acquire 1,800
    ordinary shares, representing 18% of the issued share capital of PT Quantium Solutions Logistics Indonesia (QSLI) for a cash consideration of US$54k.

    QSI is a JV between SingPost (66% stake) and Alibaba Investment Limited (34% stake) whereas QSLI is in the business of e-commerce logistics fulfilment in Indonesia.

    “Recall that QSI set up QSLI with RBL in Jan 2014 with an initial paid-up capital of about S$375k, of which 49% was subscribed by QSI. According to a study by Google and Temasek last year, 18m people in Indonesia fell into the category of online buyers, representing about 7% of the population. By 2025, it is expected that Indonesia will dominate 52% of all e-commerce activity in SE Asia, due to its huge population and island geography,” OCBC said.

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  • GreyOrange and Ninja Van partner on advanced sortation system for last-mile delivery

    GreyOrange and Ninja Van partner on advanced sortation system for last-mile delivery

    GreyOrange and Ninja Van have announced the commission of their first high-speed advanced Sortation System capable of handling 6000 parcels an hour at the Singapore hub of Ninja Van, Southeast Asia’s fastest growing last-mile logistics company. Recognised as one of the world’s Top 50 Robotics Companies by Robotics Business Review, GreyOrange, headquartered in Singapore, specialises in the design, manufacture and deployment of advanced robotics and automation systems for distribution and fulfilment centres.

    Nalin Advani, CEO, GreyOrange Asia-Pacific said, “The Linear Sorter has been tried and tested by many of Asia’s leading e-commerce and logistics companies and we are proud to welcome Ninja Van to this family. Both our companies share a similar history in recent years operating in a fast-paced logistics industry that has seen explosive growth in e-commerce and last mile delivery. We know what Ninja Van wants and are looking forward to installing the complete system within the next weeks.”

    Tan Bo Xian, co-founder and COO, Ninja Van Southeast Asia said, “At Ninja Van, technology is always at the heart of everything we do, and we are always looking to optimise and automate processes to improve efficiencies. We have been studying a solution such as this since our early days, and are happy to have grown to the point where our volumes well justify the investment. The GreyOrange Sortation system allows us to operate round the clock with a much leaner team of staff, reducing labour costs significantly. We are also pleased that the line is very compact, optimising space utilisation while increasing productivity.”

    The proprietary embedded system of the GreyOrange Linear Sorter combines advanced software and two lines of high-speed sortation conveyors capable of sorting thousands of parcels in various shapes and sizes including polybags, plus irregular and fragile packages. The system starts at the Auto-spacer where sensors determine how the parcels are spread to ensure gaps between the parcels are even. Each parcel is then identified by 1D or 2D barcodes where both its gross and volumetric weights are automatically recorded, before it quickly moves along the high-speed conveyor which sorts the parcels according to dispatch time, destination and other parameters as determined at different times of the day, including service levels such as same-day and next-day delivery.

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  • Mobile commerce in Singapore to pass $850m in 2017

    Mobile commerce in Singapore to pass $850m in 2017

    Despite a slower economic outlook, more than a third (38%) of online adults in Singapore interviewed in a 2016 study by PayPal say they will be spending more online this year, largely due to the convenience it brings.

    Notably, another 78% who predicated an increase in their online spend also cited convenience as the reason.

    Specifically, survey results showed that Singaporeans are turning their attention to spending on day-to-day items, with predicted growth for household goods (21%), groceries, food and beverage, and alcohol (15%), and baby and children’s supplies (12%) topping the list.

    Results indicate an increasing growth in mobile spend as Singaporeans spend more time on their mobile devices, with mobile shopping spend predicted to increase by 42% this year over 2016. This amounts to more than S$1.2 billion ($848 million), almost a third of the forested total online spend of S$3.5 billion in the country.

    The numbers explain the mobile first attitudes of firms in the region, and makes sense when one considers that the Asia Pacific is the leading region in terms of mobile connection penetration.

    In addition, two thirds (68%) of all cross-border shoppers interviewed in the region have made a cross-border purchase on a smartphone in the past 12 months, which is the highest net incidence out of all regions surveyed.

    “2017 looks to be a year of growth and opportunities for savvy businesses that are equipped to take their sales online, on mobile and in-app. This in turn provides endless choices and possibilities for the mobile-savvy generation as they live their lives on the go,” said Rahul Shinghal, general manager for PayPal Southeast Asia.

    PayPal’s study dovetails with another study late last year which concluded that the Asia Pacific region leads the world in mobile payment. Conducted by Kantar TNS, the study of over 70,000 consumers found that over half of connected users use their smartphones to pay for goods or services at point of sales via apps.

  • Crocs store is closing door

    Crocs store is closing door

    One in four Crocs stores will be closed globally as the maker of the world’s ugliest shoes plots a survival plan.

    The store cull was announced along with another quarterly loss: the shoemaker finished its last three months US$44.4 million in the red, albeit a better performance than the same period a year earlier when it lost $73.9 million.

    Global sales were down 10.2 per cent to $187.4 million but in Asia the company says its retail sales declined by a whopping 16.6 per cent.

    Total Asian revenue was $68.8 million, down 9.8 per cent year-on-year, with wholesale revenues down 5.3 per cent (explained as a result of the sale of the South African business in April 2016). Retail sales in Asia declined 16.6 percent, despite the opening of nine stores since 2015. Online sales declined 7 per cent in Asia, which Crocs says was the result of weak sales in China on Singles’ Day.

    In Europe, revenue was down 14.2 per cent.

    As it restructures to ensure its survival, Crocs CEO Gregg Ribatt will step down on June 1, to be replaced by Andrew Rees who has for the past two years been president. The two roles will now be combined and Ribatt will remain on the company’s board.

    Rees told an analysts’ briefing that customers are responding favorably to new colors and prints added to the core Crocs molded product line.

    “We’ve also confirmed the importance of any newness to our iconic molded footwear through new color and graphic introductions, and through the expanded use of licensed characters,” he said.

    “Our spring/summer 2017 collection rolled out to warm-weather doors in November and early reads are encouraging. Going forward, our innovation and newness will be most heavily concentrated on core clogs and sandal, slips and slides where we see the greatest opportunity for growth.”

    Crocs is also banking on the endorsement of the product by celebrities Drew Barrymore, John Cena, Yoona Lim and Henry Lau who will feature in the brand’s latest Come As You Are marketing campaign launching in April.

    Full year figures

    Crocs’ full-year picture was nowhere near as bad as the last quarter’s. Total sales were $1.04 billion, down only a little from the $1.09 billion of a year earlier. On a constant currency basis, revenues declined 4.7 per cent.

    The company recorded a full-year net loss of $16.5 million, far better than the $83.2 million of 2015. Excluding non-recurring charges, the adjusted loss was $26.9 million.

    Rabat says Crocs has been reshaped into a company that :”functions more efficiently and effectively” and is in “a far better place now than two years ago”.

    “And while the operational work is critical, it is not yet, and I emphasise yet, translating into the financial gains we continue to believe are achievable.”

    Since 2014, Crocs has halved its SKU count, boosted the appeal of core sellers and added new collections.

    Once the store cull is complete in 2018, Crocs will operate about 400 outlets, adding $35 million to its bottom line in 2019. At the end of 2016 it had 558 stores.

    Carrie Teffner, Crocs EVP and CFO, says that given volatile market conditions, the company is not setting mid-term revenue and margin targets.

    “That said, we continue to believe that… longer term, the business can deliver EBIT margins in the 10 per cent range.”

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