Retail News CRM

Tag: south korea

  • SSI to launch Joe Recent Philippines

    SSI to launch Joe Recent Philippines

    SSI subsidiary Shops Specialists has obtained the franchise for the Joe Recent style model within the Philippines.

    SSI will open a sequence of Joe Recent Philippines shops underneath licence from Loblaw, the Canadian retail big which owns the model.

    The primary shops will open subsequent yr, ranging attire, equipment, footwear and wonder merchandise for ladies, males and youngsters.

    “Joe Recent additional strengthens our lineup of worth manufacturers, permitting us to faucet and delight a fair broader base of Philippine shoppers,” SSI President Anthony T. Huang stated in a press release.

    With 350 shops in Canada, Joe Recent began increasing outdoors North America in 2014, opening shops with companions in Egypt, Saudi Arabia, South Korea, and the UAE.

    “We’re happy to introduce Joe Recent to the increasing Philippines retail panorama,” Joe Recent president Mario Grauso stated.

    SSI, mum or dad of the Rustan Group, additionally owns the FamilyMart and Wellworth retail operations within the Philippines.

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  • Tesco Korea on the block

    Tesco Korea on the block

    UK retailer Tesco has reportedly engaged HSBC to handle the sale of its South Korea retail operations.

    Tesco Korea is the hypermarket big’s largest division outdoors its UK house market and analysts estimate the enterprise might fetch between US$5 and $7 billion, sufficient to make a considerable gap in its debt and restructuring bills.

    Analysts within the UK recommend personal fairness corporations can be the more than likely potential bidders for the operation, particularly funding arms of Korean banks.

    Tesco, the world’s fourth largest retailer by gross sales, might comply with retain a stake within the enterprise

    post-sale, and/or license its model, which has robust recognition out there.

    Tesco says on its web site it has greater than 400 shops in Korea, together with 500 franchised shops, and serves greater than 6 million clients each week.

    “We’ve got a worthwhile on-line enterprise and 22 of our award-winning digital shops in South Korean subways and bus stops assist time-pressed clients store on-the-go utilizing their smartphones.”

    The shops are fed by three distribution centres, the most important the Hamahn Recent Distribution Centre, which can also be the most important recent distribution centre in Asia, processing greater than 40 million packing containers per yr.

    “We have now elevated the supply of ready fruit & veg and ready-meals in our shops. “We’ve additionally responded to financial pressures by providing a variety of Homeplus own-brand merchandise in three classes, from ‘Good Zone’ fundamentals on the lowest worth level to ‘Greatest Zone’ premium merchandise,” the corporate says.

    In addition to promoting items in Korea, Tesco says it exports £36 million of largely non-food merchandise from Korea to the remainder of the Tesco Group.

    Tesco has been tipped to divest a few of its Asian operations since an accounting scandal and falling market share within the UK decimated its share worth and new CEO Dave Lewis was appointed to attempt to flip across the struggling organisation.

    Tesco additionally has operations in Thailand and Malaysia

    The corporate posted a pretax lack of £6.38 billion (US$9.52 billion) for the yr to February 28, largely resulting from writedowns. Its everyday operations stay worthwhile.

    Tesco’s overseas retail competitors have already exited Korea, discovering the market, dominated by native gamers, robust to crack. Walmart bought 16 shops there to Shinsegae in 2006 and France’s Carrefour bought out to E.Land Group the identical yr.

  • Koreans purchase Supra Footwear, KR3W Denim

    Koreans purchase Supra Footwear, KR3W Denim

    South Korea’s E-Land Group has purchased two US style retail manufacturers – KR3W Denim Co and Supra Footwear.

    E-Land subsidiary Okay-Swiss International Manufacturers has purchased the 2 manufacturers’ father or mother One-Distribution, a skate-inspired attire and footwear producer.

    Based in 2006, Supra shortly turned one of many largest and most profitable unbiased sneaker manufacturers by way of innovation and elegance, fusing style, music, skateboarding, artwork and road to deliver basic silhouettes to those that demand distinctive designs.

    Supra has flagship shops in Tokyo, Santa Monica, New York Metropolis, Paris and Mexico Metropolis and distributes to over 60 nations by way of a community of choose skate outlets and high-end boutiques.

    KR3W, an attire model born from skate tradition, started in 2003, influenced by Southern California tradition. The model made its identify in denim, and altered the younger males’s denim paradigm with the introduction of its Okay Slim Denim Jean utilizing an progressive stretch material and a slender profile. KR3W has since expanded its attire vary, efficiently blurring the strains between skate and style, whereas sustaining its ‘Darkish Americana’ aesthetic.

    E·Land Group is a South Korean conglomerate headquartered in Chanjeon-dong Mapo-gu Seoul, South Korea.

    KSGB acquired the Fountain Valley, California-based agency from a gaggle of shareholders together with Bertram Capital, a San Mateo, personal fairness agency, and a small group of personal buyers together with One-Distribution Founders Scott VanDerripe, Angel Cabada and Scott Bailey. The worth was not disclosed.

    KSGB has appointed Robert ‘Cape’ Capener because the model president of each Supra and KR3W, reporting to Larry Remington, President and CEO of KSGB.

    “Having shaped KSGB simply two years in the past, we’re on an aggressive monitor to grow to be one of many world’s main multi-brand corporations,” stated KSGB President and CEO, Larry Remington.

    “Supra and KR3W are manufacturers that meet the distinctions we’re on the lookout for in our portfolio: authenticity, robust model consciousness, a monitor document of product innovation and alternatives for long-term, international progress. We’re excited to hitch forces with the One-Distribution group and to put a basis for the longer term.”

    This acquisition takes the KSGB portfolio to a complete of six globally distributed manufacturers, together with Okay-Swiss, Palladium, PLDM, OTZ Footwear, KR3W and Supra. E-Land Group, a $10 billion group of corporations with over 200 manufacturers, 10,000 retail shops and enterprise throughout attire, footwear, retail, lodges, leisure and leisure.

    One-Distribution at present has workplaces in California, Barcelona, Sydney and Dongguan, China.

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  • 4G, Asia lead smartphone sales rise

    4G, Asia lead smartphone sales rise

    Global smartphone sales rose by eight per cent in value terms in the first quarter of this year.

    Sales of larger screen devices (5″ and higher) continued to drive year-on-year growth according to data from GfK.

    But while handset demand increased seven per cent to 310 million units, a slowdown in demand in China and developed Asian nations dragged down growth, from 19 per cent year-on-year in the fourth quarter of 2014.

    GfK says 4G compatible phones are rapidly gaining share – surpassing 50 per cent of the global handset market for the first time. It predicts a 4G ramp-up in China in the second half of 2015 to drive incremental demand.

    Kevin Walsh, director of trends and forecasting at GfK, said the weakness in China was caused by a significant slowdown in 3G demand, which was not offset by 4G growth.

    “We forecast China to return to growth in the second half of the year, driven by a continued 4G ramp-up. In Developed Asia, the year-on-year decline was caused by tough comparisons with Q1 2014, when demand was pulled forward in Japan due to an upcoming VAT increase in April. We forecast unit demand in Developed Asia to grow by three per cent year-on-year in 2015, driven by Japan and South Korea, which are expected to return to growth in 2Q15.”
    Smartphone growth in India and Indonesia is also expected to be helped by an expanding 4G network. In Q1 2015, 4G share in both countries was well below the global average, at four per cent and seven per cent, respectively. GfK forecasts 4G unit share within smartphones to reach seven per cent in India and 10 per cent in Indonesia in 2015.

    Q1 2015 saw a continued shift towards larger screen sizes, with sales of 166 million units equating to 47 per cent of the global smartphone market, up from 32 per cent in Q1 2014. In China, where the 4G trend is particularly pronounced, the growth in share to 57 per cent – from 32 per cent in Q1 2014 – was driven by cheaper large screen models flooding into the market.

    GfK forecasts this screen size migration to continue in 2015, with global demand for large screen devices increasing by 30 per cent year-on-year to account for 69 per cent of total smartphone unit demand this year.

    Low-end smartphones – those priced in the region of $0-250 – increased share to 56 per cent, up from 52 per cent in Q4 2014, at the expense of the high-end models ($500+), whilst mid-range ($250-500) share remained stable.

    GfK forecasts low-end smartphones to gain further share in 2015, helped by continued price erosion in emerging markets.

    Walsh added: “GfK forecasts global smartphone unit demand to grow 10 per cent year-on-year in 2015, a slowdown from the 23 per cent growth experienced last year. Emerging Asia is forecast to be the fastest growing region, driven by India and Indonesia, where low smartphone penetration leaves plenty of room for growth.”

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  • GIC takes Seoul mall stake

    GIC takes Seoul mall stake

    Singapore funding firm GIC has partnered with the Canada Pension Plan Funding Board to purchase the D-Dice Retail Mall in Seoul, South Korea from Daesung Industries.

    The 2 buyers has paid US$263 million for the mall.

    GIC and CPPIB will every personal an equal half share in D-Dice, a 4 yr previous centre described as a top quality property in a chief location. D-Dice is situated subsequent to Sindorim Station, a serious transportation hub connecting Seoul with Incheon and different main metropolitan cities close to Seoul.

    The mall can be rebranded as Hyundai Division retailer and might be operated by Hyundai, one of many prime retail operators in South Korea. Working alongside GIC and CPPIB, Hyundai will reposition the D-Dice Retail Mall to raised serve the Korean retail market’s anticipated regular progress over the long run.

    Loh Wai Keong, MD & co-head Asia, with GIC Actual Property stated the funding displays GIC’s confidence within the long-term progress of Korean home demand and is in keeping with GIC’s technique of buying high-quality, centrally-located belongings with upside potential.

    “As a long-term worth investor, our pursuits are aligned with CPPIB and we sit up for partnering them on this acquisition.”

    Jimmy Phua, MD, head of actual property investments Asia, with CPPIB stated the D-Dice Retail Mall is a main retail asset situated in a rising and prosperous space.

    “By way of this funding, we’re happy to realize publicity to one of many largest retail markets in Asia, working alongside skilled and aligned companions.”

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  • Prada South Korea opens men only store

    Prada South Korea opens men only store

    Prada has opened its first store in South Korea selling only menswear.

    The new shop is hosted inside the Shinsegae luxury department store in Seoul, but features its own distinctive entrances.

    The new space, designed by architect Roberto Baciocchi, covers about 165 sqm and houses the men’s ready-to-wear, leather goods, accessories and footwear collections.

    The internal façade, clad in Saint Laurent marble, is characterised by two large corner entrances. Slim strips of steel frame the window and the light box.

    The entrances lead to an area where the leather goods and accessories collections are displayed.

    The next area features masculine materials and finishes and hosts the ready-to-wear and footwear collections. The space is defined by ebony floorboards and walls, dark brown carpeting and cotto-coloured leather sofas.

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  • South Korea retail sales rebound

    South Korea retail sales rebound

    Reported retail sales in South Korea’s largest department stores rebounded in February from the dismal January figures.

    Analysts say the turnaround is related to the later timing of Lunar New Year in 2105 – the same reason given last week for a 14 per cent plunge in Hong Kong retail sales in January.

    The Lunar New Year, a typically strong season for retail sales given the associated holiday season, occurred in January in 2014 and in February this year.

    South Korea’s Finance Ministry says combined sales at department stores owned by Lotte Shopping, Shinsegae Co and Hyundai Department Store rose by 7.1 per cent year-on-year.

    This was the biggest rise since August last year when sales increased by 10.5 per cent.

    It follows a drop of 11 per cent in January, the worst drop on record.

    South Korea retail sales at discount stores gained a stunning 30.5 per cent year-on-year after an 18.3 per cent slump in January, which was the worst drop in 11 months.

  • Mothercare enters Korea

    Mothercare enters Korea

    Babywear retailer Mothercare is to launch in South Korea.

    The UK-based company has entered into a franchise agreement with Homeplus, a local supermarket chain owned by Tesco, to open retail stores and an eCommerce site.

    South Korea becomes the 17th Asian market for Mothercare.

    Four shops will initially open in Seoul, Suwon, Daejeon and Bucheon next month. Products will be sold online in a subsection of the Homeplus online store.

    “South Korea is a country we have been looking to serve for some time and we have found a local partner in Homeplus, with extensive knowledge and experience of retailing in South Korea,” said Mothercare CEO Mark Newton-Jones.

    Homeplus CEO Do Sung-hwan said Mothercare offered a “one-stop-shop specialist retailer” solution to time-poor parents and those preparing for the arrival of a child.

    When the South Korean stores open their doors, Mothercare’s reach will expand to 63 countries and its store network now exceeds 1300.

  • Could HK lose its status as a luxury shopping destination to South Korea?

    Could HK lose its status as a luxury shopping destination to South Korea?

    The popularity of South Korean pop culture and products in China shows no signs of abating, as South Korea has seen more Chinese shoppers than ever, but it could come at a cost to Hong Kong. Erwan Rambourg, a consumer goods analyst for HSBC and the author of “The Bling Dynasty,” has seen the surge  in shoppers first hand. He estimated that Chinese shoppers accounted for around 70 percent of South Korea’s duty free sales and accounted for about one third of all luxury purchases in the country, reports The Wall Street Journal.