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Tag: Steps

  • Vicca Ng Steps into COO Role at Hextar Retail: Driving Expansion and Strategic Partnerships

    Vicca Ng Steps into COO Role at Hextar Retail: Driving Expansion and Strategic Partnerships

    Vicca Ng has been appointed as the Chief Operating Officer (COO) of Hextar Retail, a Malaysian retail conglomerate. Ng’s new role takes effect immediately and she will continue to supervise the group’s retail operations, in addition to serving as an executive director.

    Vicca Ng’s Role in Hextar Retail

    Ng has been instrumental in the expansion of Hextar Retail. She has successfully managed the brand’s growth, fostered strategic partnerships, and developed retail operations across a growing portfolio. Her background encompasses business expansion, retail operations, and commercial development. In her new role as COO and Executive Director, Hextar Retail looks forward to Ng’s continued leadership as the company evolves and expands.

    Hextar Retail, initially established in 1988 as Classic Scenic Berhad, was rebranded in 2024. The company is a subsidiary of the larger Malaysian conglomerate, the Hextar Group. The Hextar Retail portfolio covers a range of sectors, including lifestyle, apparel, food and beverage, as well as convenience retail sectors.

    Questions & Answers

    What is the new role of Vicca Ng in Hextar Retail?
    Vicca Ng has been appointed as the Chief Operating Officer and will function as an Executive Director. She will supervise the group’s retail operations.

    What role has Vicca Ng played in the expansion of Hextar Retail?
    Ng has been instrumental in the company’s expansion, overseeing brand growth, fostering strategic partnerships, and developing retail operations across the growing portfolio.

    What sectors does Hextar Retail’s portfolio cover?
    Hextar Retail’s portfolio spans a wide range of sectors, including lifestyle, apparel, food and beverage, and convenience retail sectors.

  • Chairman Tang Steps Down as Shein Gears Up for Hong Kong IPO

    Chairman Tang Steps Down as Shein Gears Up for Hong Kong IPO

    Donald Tang, executive chairman of Shein, the global fast-fashion retailer, is preparing to step down as the company nears its public offering, according to sources with first-hand knowledge of the situation. Tang has been the public face of the company for the past three years, acting as a Western representative for Shein’s founder and CEO, Sky Xu.

    Tang’s Role and the Company’s Leadership Transition

    Tang, a Chinese American billionaire with a background in banking, has worked closely with Xu, interacting with politicians, regulators, and investors globally and representing the e-commerce giant at conferences and public events.

    As Tang steps down, CEO Sky Xu is set to assume the role of chairman and will spearhead the investor roadshow before Shein’s listing on the Hong Kong stock exchange. The company’s hearing with the exchange is scheduled for this Thursday.

    Tang will maintain a close relationship with the company’s leadership as a senior adviser for the foreseeable future, a source revealed. Despite his considerable contributions, Tang’s name will not appear in Shein’s public filing among the company’s top leadership, the sources noted.

    Previous Public Offering Attempts and Regulatory Challenges

    Initially, Tang aimed to list the company in New York and even relocated to Washington, D.C., to lobby politicians. However, as controversies surrounding Shein’s use of the ‘de minimis’ customs duty waiver grew, he voiced his support for removing the waiver in July 2023.

    Tang has also defended Shein against allegations linking its supply chain in China to forced labor, an issue strongly denied by Beijing. Shein maintains a zero-tolerance policy towards forced labor.

    Following the unsuccessful New York IPO attempt, Shein turned to London for a potential listing. Despite receiving approval from Britain’s Financial Conduct Authority, the plan fell through due to the China Securities Regulatory Commission withholding its approval. As a result, the company decided on a Hong Kong listing.

    Questions & Answers

    What has been Donald Tang’s role at Shein?
    Donald Tang has acted as the Western representative of Shein, liaising with global politicians, regulators, and investors, and representing the company at public events.

    Who will take over the role of chairman once Tang steps down?
    The current CEO of Shein, Sky Xu, will assume the role of chairman as Tang steps down.

    What were the challenges faced by Shein in their previous attempts at an IPO?
    Shein initially planned for an IPO in New York but faced criticism over its use of the ‘de minimis’ customs duty waiver. The company then pivoted to London, but the IPO was halted due to the China Securities Regulatory Commission withholding its approval. This led Shein to opt for a listing in Hong Kong.

  • Versace in Search of New Leader as CEO Emmanuel Gintzburger Steps Down

    Versace in Search of New Leader as CEO Emmanuel Gintzburger Steps Down

    After nearly four years of guiding the iconic Italian luxury fashion house, Versace’s CEO, Emmanuel Gintzburger, has decided to step down from his role.

    A Leadership Transition at Versace

    Gintzburger took the reins at Versace in September 2022, following his tenure as the CEO of Alexander McQueen, where he served for approximately six years. Gintzburger also boasts an impressive resume with leadership roles at Saint Laurent, Jeanne Lanvin, and Sephora under his belt.

    His time at Versace was marked by significant changes, notably the brand’s acquisition by the Prada Group last year. The Group, another Italian luxury titan, purchased Versace in a significant transaction valued at US$1.375 billion from US-listed Capri Holdings, effectively “bringing the brand back home.”

    Subsequent to this acquisition, Lorenzo Bertelli, the Chief Marketing Officer at Prada Group, was appointed as the executive chair of Versace.

    The Future of Versace

    The Prada Group confirmed that Gintzburger’s resignation became effective on June 23, and assured that an announcement regarding his successor will be made when the time is right.

    Earlier this year, Versace named Pieter Mulier as the new chief creative officer, effective from July 1, replacing Dario Vitale, who had a brief stint with the company, departing in December.

    As Mulier prepares to unveil his debut collection for Versace next February, the company is working diligently to finalize its management team, which includes Bertelli and the forthcoming CEO. This is a critical step as the brand gears up for its next growth phase.

    Questions & Answers

    Who is the outgoing CEO of Versace?
    Emmanuel Gintzburger was the CEO of Versace, leading the company for nearly four years before announcing his resignation.

    Who acquired Versace recently?
    The Prada Group, an Italian luxury company, acquired Versace last year in a deal worth US$1.375 billion.

    Who is the new Chief Creative Officer for Versace?
    Pieter Mulier was named the new Chief Creative Officer for Versace, with his tenure starting from July 1.

  • Beatrice Monguidi Steps Up as New CEO of LVMH’s Rimowa: A New Chapter for the Luxury Luggage Brand

    Beatrice Monguidi Steps Up as New CEO of LVMH’s Rimowa: A New Chapter for the Luxury Luggage Brand

    Beatrice Monguidi has been named the new CEO of Rimowa, the renowned suitcase brand, by LVMH. She will officially assume her duties starting June 1. Monguidi will directly report to Pietro Beccari, who holds the dual roles of Chairman and CEO of both the LVMH Fashion Group and luxury fashion house Louis Vuitton.

    Experience and Expertise

    Monguidi’s appointment is indicative of LVMH’s strategy to leverage internal talent, recognising her vast experience across several of the group’s premier brands. Her professional journey includes stints at Fendi and Christian Dior Couture, both high-profile LVMH companies.

    In her most recent role, Monguidi excelled as the Zone President for EMEA (Europe, Middle East, and Africa) at Louis Vuitton. She was responsible for supervising one of the brand’s most intricate regions. Her efforts to cultivate a culture centred around people while maintaining robust commercial performance and operational discipline across varied markets did not go unnoticed.

    Beccari lauded Monguidi’s leadership skills, stating, “Monguidi has demonstrated a remarkable ability to unite and guide teams towards common goals within the multifaceted and complex EMEA ecosystem. Her commitment to the collective and to nurturing talent makes her the perfect fit to steer Rimowa’s vision into the future.”

    LVMH’s Current Financial Standing

    Monguidi’s appointment coincides with the release of LVMH’s first-quarter revenue report. The figures reflect a revenue of €19.1 billion (US$22.4 billion), marking a 6% decline. This drop is attributed to ongoing geopolitical tensions impacting trade. However, the brand’s strong performance in key markets, notably the US and Asia, helped mitigate the disruption caused by larger economic instability and conflict in the Middle East.

    Questions & Answers

    Who has been appointed as the new CEO of Rimowa?
    Beatrice Monguidi has been appointed as the new CEO of Rimowa.

    Who will Beatrice Monguidi report to in her new role?
    She will report to Pietro Beccari, the Chairman and CEO of the LVMH Fashion Group and Louis Vuitton.

    What is LVMH’s latest reported revenue?
    LVMH’s latest reported revenue for the first quarter is €19.1 billion or US$22.4 billion.

  • Daeil Kim Steps Up as New CEO to Fuel 7-Eleven’s Revival in Korea

    Daeil Kim Steps Up as New CEO to Fuel 7-Eleven’s Revival in Korea

    Korean Seven, the South Korean operator of the worldwide convenience store franchise 7-Eleven, has recently appointed Daeil Kim as its latest CEO. The move is aimed at driving growth and propelling a significant business transformation.

    Daeil Kim Steps Up

    Kim officially took the reins of the company on April 1. He brings along a robust portfolio of 28 years that spans across global business leadership, management consulting, and digital platforms.

    Kim expressed his dedication to his new role by articulating his focus on cooperating with the skilled team at Korea Seven. The goal is to rebuild the brand and steer it towards a period of renewed growth.

    A Wealth of Industry Experience

    Kim’s professional journey includes senior positions across various sectors, such as fintech, digital services, and marketing technology. His most recent role was as CEO of Secta9ine, the marketing and technology solutions division of SPC Group. The group operates globally recognized brands such as Paris Baguette and Baskin-Robbins.

    Prior to his tenure at Secta9ine, Kim held the position of MD and head of international business at Ascend Group. Here, he led the expansion of the ‘TrueMoney’ fintech platform across Southeast Asia.

    Revitalizing the Brand

    Kim’s appointment is a testament to Korea Seven’s dedication to rejuvenating its brand. The retail sector in Korea is witnessing rising competition and evolving consumer expectations. Korea Seven is focused on meeting these new challenges head-on and continuing to thrive in this dynamic market.

    Questions & Answers

    What is the focus of Daeil Kim in his new role as CEO of Korea Seven?
    Kim plans to work closely with the talented Korea Seven team to rebuild and boost the brand to a period of growth.

    What sectors does Kim’s professional experience span across?
    Kim has served in senior roles across fintech, digital services, and marketing technology sectors.

    What is Korea Seven’s commitment amidst the rising competition and changing consumer expectations in the Korean retail sector?
    Korea Seven is committed to revitalizing its brand to meet the increasing competition and shifting consumer preferences in the Korean retail sector.

  • Former Uber Executive Ascends to the Helm of Gojek Singapore: Janine Teo Steps in as New General Manager

    Former Uber Executive Ascends to the Helm of Gojek Singapore: Janine Teo Steps in as New General Manager

    Gojek Singapore, a leading ride-hailing platform, has made significant changes to its top leadership, appointing Janine Teo as its new General Manager. Teo is succeeding Lien Choong Luen, who decided to step down in February after steering the company for seven fruitful years.

    Teo is not new to Gojek; she has held multiple operational leadership positions within the company for over seven years. The company is confident in her capabilities to drive its business forward, thanks to her extensive experience. Teo’s main focus will be to continue enhancing Gojek’s platform, ensuring it remains a reliable tool that supports driver-partners and their livelihoods, and delivers dependable services to Singaporean consumers.

    Before her recent promotion, Teo held various roles, including Country Lead of Driver Experience and Operations Manager at Uber, where she served from 2017 to 2018. Later, she became the Head of Supply in Singapore at GoTo Group, the technology group overseeing Gojek, starting from 2020.

    Lien Choong Luen’s Departure

    Reflecting on his tenure, Lien has remarked that he had the privilege of witnessing the maturation of the ride-hailing industry during an especially intense period characterized by increased competition and stricter regulations.

    Navigating the challenges presented by the Covid-19 pandemic, including supporting drivers amid a sharp decrease in demand, was one of the significant hurdles that the company had to overcome under his leadership.

    Lien has shared that he plans to take a sabbatical and dedicate more time to his board roles, serving as the President of Singapore Athletics being one. Additionally, he is exploring fresh opportunities in the technology sector while catching up on the regional developments.

    After seven years at the helm of Gojek Singapore, with the business in a robust position, the company believes that it was an opportune moment for Lien to exit the role and follow his personal interests.

    Questions & Answers

    Who has been appointed as the new General Manager of Gojek Singapore?
    Janine Teo is the new General Manager of Gojek Singapore.

    What was Janine Teo’s position prior to her promotion?
    Teo previously held the position of Head of Supply in Singapore at GoTo Group, the technology group that oversees Gojek.

    Why did Lien Choong Luen step down from his role at Gojek Singapore?
    Lien decided to step down from his role at Gojek Singapore to focus on his personal interests, including his board roles and exploring opportunities in the technology sector.

  • Vinpearl CEO Dang Thanh Thuy Steps Down: A Turn of Tide in Vietnam’s Hospitality Giant

    Vinpearl CEO Dang Thanh Thuy Steps Down: A Turn of Tide in Vietnam’s Hospitality Giant

    Dang Thanh Thuy has stepped down from her position as chief executive officer of Vinpearl, Vingroup’s resort division. Despite her resignation, Thuy continues to hold a seat on the organization’s board. Vinpearl has not yet announced a successor or the reasons behind Thuy’s departure.

    Background of Dang Thanh Thuy

    Thuy, 56, holds a Bachelor’s degree in literature. She joined the ranks of Vinpearl in 2004 and has held significant positions in the company over the years. She served as the chairman of Vinpearl from January 2023 to March 2024, and from 2012 to 2016, she was the deputy CEO of Vingroup.

    Vinpearl’s Status in the Hospitality Industry

    Vinpearl stands as one of the foremost hospitality brands in Vietnam, boasting an impressive portfolio of 48 hotels, resorts, theme parks, and golf courses spread across 18 provinces and cities.

    Financial Performance

    In the third quarter of 2025, Vinpearl reported revenues of VND3.09 trillion (US$117.5 million), marking a 40.7% decrease year-on-year. The company’s post-tax profits stood at VND169 billion, falling 66.6%. Furthermore, its profits for the first nine months of the year saw a drastic decline, plummeting by 86%.

    Vinpearl is primarily owned by Vingroup, with an ownership stake of 85%. The conglomerate’s chairman is renowned billionaire, Pham Nhat Vuong.

    Questions & Answers

    Who was the previous CEO of Vinpearl?
    Dang Thanh Thuy was the former CEO of Vinpearl.

    What significant positions did Dang Thanh Thuy hold in Vinpearl and Vingroup?
    Dang Thanh Thuy served as the chairman of Vinpearl from January 2023 to March 2024 and was the deputy CEO of Vingroup from 2012 to 2016.

    What was the financial performance of Vinpearl in the third quarter of 2025?
    In the third quarter of 2025, Vinpearl reported revenues of VND3.09 trillion (US$117.5 million), a 40.7% decrease year-on-year. The company’s post-tax profits stood at VND169 billion, a decrease of 66.6%.

  • Taiwan’s Bafang Dumpling steps up US rollout

    Taiwan’s Bafang Dumpling steps up US rollout

    Bafang Dumpling, a renowned dumpling chain based in Taiwan, intends to establish new stores in Texas later this year. This move is part of its strategic growth within the American market, notwithstanding the current tariff dispute between the U.S. and other nations.

    Expanding Internationally

    The company’s expansion plan covers the south-central region of the United States, including Texas and California. In line with this, Bafang Dumpling is set to launch a new headquarters by the end of this year. This is seen as a significant milestone in its international growth strategy.

    Bafang Dumpling has successfully established thousands of stores across Taiwan. Additionally, it has managed to secure a presence in Hong Kong and the United States as well. The company is set to open its 12th store in Arcadia in the coming month, which will further expand its operations on the West Coast.

    Market Exit and Entry

    In 2022, Bafang Dumpling made the strategic decision to exit the Chinese market. It subsequently sought to establish itself within the United States, starting in the City of Industry, California. This move has proven to be fruitful, as indicated by the company’s positive financial report for the past year. The company reported a consolidated revenue of $268.38 million, which translates to a 9.37% increase from the previous fiscal year.

    Questions & Answers

    What is Bafang Dumpling’s latest expansion plan?
    Bafang Dumpling plans to open new stores in Texas later this year as part of its strategic growth within the U.S. market.

    What significant milestone is Bafang Dumpling set to achieve by the end of this year?
    The company is set to launch a new headquarters by the end of this year, marking a significant milestone in its international expansion.

    What was Bafang Dumpling’s financial performance last year?
    Last year, Bafang Dumpling reported a consolidated revenue of $268.38 million, a 9.37% increase from the previous fiscal year.

  • Dior creative director Maria Grazia Chiuri steps down

    Dior creative director Maria Grazia Chiuri steps down

    Maria Grazia Chiuri, the first woman to assume the role of creative director of women’s collection at Dior, has stepped down, marking one of the significant changes triggered by the LVMH board in the brand.

    Chiuri, who brought a powerful feminine touch to the brand, joined Dior in 2016, establishing a strong presence in the industry. Her final act as creative director was to oversee the Dior cruise fashion show in Rome earlier this week.

    Prior to her tenure with Dior, Chiuri brought her unique design insights and feminist approach to notable fashion powerhouses like Valentino and Fendi. Her impact was immediately felt at Dior, as seen in the collection she introduced during her inaugural show.

    Delphine Arnault, the chairman and CEO of Christian Dior, recognized Chiuri’s substantial contribution to the brand. He commented, “She has left an indelible mark on the history of Christian Dior, significantly boosting its growth and becoming the first woman to spearhead the creation of women’s collections.”

    Dior has not yet announced who will succeed Chiuri in her trailblazing role. However, Jonathan Anderson, who recently vacated the position of creative director at Loewe, has been named Dior’s menswear creative director. Fashion enthusiasts are eagerly anticipating his first collection, which will be unveiled on June 27 during the Paris Fashion Week.

    Questions & Answers

    What position did Maria Grazia Chiuri hold at Dior before her resignation?
    Maria Grazia Chiuri was the creative director of Dior’s women’s collection.

    Who has been appointed as the new menswear creative director at Dior?
    Jonathan Anderson, the former creative director at Loewe, has been appointed as the new menswear creative director at Dior.

    When can we expect Jonathan Anderson’s first collection to debut?
    Jonathan Anderson’s first collection for Dior is scheduled to debut on June 27 during the Paris Fashion Week.

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