Retail News CRM

Tag: Thailand

  • L’Oréal Paris revamps its store at the Bangkok King Power Downtown II Srivaree

    L’Oréal Paris revamps its store at the Bangkok King Power Downtown II Srivaree

    The makeover of the L’Oréal Paris store in King Power Downtown II Srivaree is the latest in a series of important openings at L’Oréal Travel Retail Asia Pacific. Unlike anything Bangkok has ever seen before, the expanded flagship store is the biggest L’Oréal Paris store worldwide. This new design concept officially invites travelers to an elevated shopping experience to discover L’Oréal Paris’ accessible luxury products for both men and women.

    Having undergone a major transformation, the 110 square meter flagship store offers a wide range of make-up and skincare for men and women with a best-in-class retail experience. The space expansion now welcomes travelers with three contrasting zones – the first ever L’Oréal Paris make-up boutique in Travel Retail Asia Pacific, Revitalift Classic Red Carpet Zone and a dedicated Exclusive Men skincare area.

    The make-up boutique invites travelers to discover a wide range of make-up offers with a strong color appeal and a large LED screen to express L’Oréal Paris’ creativity. Products at the Revitalift zone take center stage, while the Men Expert area in black color tone is focused on men’s specific needs.

    “We are extremely delighted to relaunch our L’Oréal Paris store with King Power International on a scale that has never been seen before. Thailand is one of the most exciting markets with thriving tourism, and we see great potential in the first L’Oréal Paris flagship store in Travel Retail worldwide,” says Emmanuel Goulin, Managing Director of L’Oréal Travel Retail Asia Pacific.

    “This is a celebratory moment of our strong partnership with L’Oréal Travel Retail Asia Pacific in bringing a first-class duty free shopping experience to millions of Chinese tourists. We are optimistic that the biggest L’Oréal Paris store worldwide will continue to attract more shoppers, confirming King Power Downtown II Srivaree as an exceptional retail destination,” says Susan Whelan, Senior Executive Vice President at King Power International.

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  • V-MORE announces planned Thailand expansion

    V-MORE announces planned Thailand expansion

    V-MORE, an e-commerce supply chain management platform, has revealed its intention of expanding into Thailand.

    V-MORE aims to recruit new Thai e-commerce merchants as part of its expansion strategy and has rolled out onboarding programs for new merchants and users.

    V-MORE is a one-stop marketplace where consumers can shop and be rewarded at over 500 marketplace and shopping sites including leading online brands, hotel and flight booking sites, technology as well as food and beverages merchants. Thai merchants can participate in its e-commerce program and increase their exports to other countries in Asia and beyond.

    “We are pursuing a plan of expansion and hope to achieve revenue growth through mass adoption by users and merchants in our ecosystem. Thailand is fast becoming the leading e-commerce market, and we seek to increase our user and merchant base through user incentive programs, brand awareness and marketing programs,” said Sir Eldee Tang, CEO and Founder of Noble Vici Group.

    According to research, there are more than 57 million internet users in Thailand who are well-versed with digital technologies, mobile and e-commerce. The market is valued at $3.5 billion and is expected to generate revenue growth rate of 13.2% annually, reaching $5.8 billion by 2022.

    “We look forward to new local merchants to come on board our platform and welcome sellers and buyers to experience the online marketplace for the first time,” Eldee added.

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  • Telenor Myanmar extends non-stop roaming to Malaysia, Singapore

    Telenor Myanmar extends non-stop roaming to Malaysia, Singapore

    Telenor Myanmar has expanded its unlimited international data roaming service to Malaysia and Singapore, one month after the launch of the new service in Thailand.

    The company’s non-stop data roaming pack offers unlimited data in the three international markets for total fees of 999 kyats ($0.65) for three days of service. Speeds are uncapped for the first 1GB per day, and then shaped to 512kbps.

    Prepaid and postpaid customers can activate the service on the MyTelenor APP, sending a message to a dedicated number, or dialing a different number.

    “We are amazed by the support we have seen on our latest roaming product for visitors to Thailand. So we decided to extend this popular service to Malaysia and Singapore which we know as the other two most frequently visited countries in Southeast Asia,” Telenor Myanmar CMO Amaresh Kumar said.

    “We have made international roaming affordable for everyone and we welcome our customers to experience the only worry-free data roaming packs that users can get in Myanmar.”

    Thanks to the connections of parent company Telenor from Norway, Telenor Myanmar now offers roaming services with 171 partner operators in 125 countries, with its 4G roaming service currently available in China, Thailand, Malaysia, Singapore, Japan, UAE, Canada, Macau, Taiwan, New Zealand, Sweden, Belgium and Norway.

    Meanwhile subscribers to 227 operators from 134 countries can use their overseas SIMs with the Telenor network in Myanmar.

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  • Pomelo secures RedMart’s Jim Boland

    Pomelo secures RedMart’s Jim Boland

    Bangkok-headquartered omnichannel fashion company Pomelo has appointed Jim Boland, former RedMart CFO, as its new CFO.

    Boland has successfully led finance organisations in fast-growing e-commerce businesses for more than 19 years in leadership roles at Amazon, Dell and Alibaba-owned RedMart. His appointment will see him aiming to build up Pomelo’s financial infrastructure to drive profitability while enabling rapid growth across the region.

    “I am delighted to join this innovative company, which has designed a business model strategically suited to grow fast and profitably,” said Boland. “As a digitally native, vertically integrated omnichannel brand, Pomelo presents an exciting opportunity to leverage my past experience with vertical integration, retail, and e-commerce, especially during the critical scaling up phase.”

    With Boland’s new role as CFO, Pomelo’s co-founder and former CFO Casey Liang is transitioning to Pomelo’s growth team, which encompasses the performance-marketing and business-intelligence teams, a cross-functional unit that will work closely with other teams to accelerate customer acquisition and retention.

    “As we continue in this period of rapid expansion, I am excited to foster more coordination between our creative and technical teams to further accelerate our growth rate and help more customers to experience Pomelo’s unique value proposition,” said Liang.

    Pomelo’s CEO David Jou expressed excitement at the hire as the firm pursues building the “first global fast fashion brand out of Asia”.

  • Retail company Yo-ren eyes Thailand and Malaysia

    Retail company Yo-ren eyes Thailand and Malaysia

    Hong Kong-headquartered retail technology company Yo-ren has secured US$11 million in a funding round it plans to use to expand into Thailand and Malaysia.

    Yo-ren designs, develops, and operates smart phone-based customer management programs and provides retailers with social network services, e-commerce website planning and operations, collects user data and performs data analysis, as well as developing market strategies based on user characteristics.

    The company’s current clients include Japanese convenience store chain Lawson.

    Yo-ren is also investing in AI technology as part of an agenda to merge digital and physical store spaces, possibly extending as far as allowing consumers to buy clothing in unstaffed stores, in similar fashion to Amazon Go.

    “We foresee the optimal use of digital environments as a service, and big data gathered from increasingly connected networks as critical up-and-coming managerial problems,” Yo-ren wrote in a statement.

    Investors in the latest Yo-ren funding round included Lawson and T-Gaia Corporation.

  • V-MORE Enters Thailand’s E-Commerce Market With More Than 500 Marketplace Platforms and Merchants

    V-MORE Enters Thailand’s E-Commerce Market With More Than 500 Marketplace Platforms and Merchants

     V-MORE, Asia’s leading e-commerce supply chain management platform, has announced its plans to expand into Thailand. Over the pasts 12 months, the fast-growing one-stop e-commerce platform which has already garnered 500,000 users in the region.  V-MORE aims to recruit new Thai e-commerce merchants as part of its expansion strategy and has rolled out onboarding programs for new merchants and users.

    “We are pursuing a plan of expansion and hope to achieve revenue growth through mass adoption by users and merchants in our ecosystem. Thailand is fast becoming the leading e-commerce market, and we seek to increase our user and merchant base through user incentive programs, brand awareness and marketing programs,” said Sir Eldee Tang, CEO and Founder of Noble Vici Group.

    V-MORE is a one-stop marketplace for high quality products which are value for money. Its unique shop, save and earn program has gained the trust of many online shoppers. Through V-MORE, consumers can shop and be rewarded at over 500 marketplace and shopping sites including leading online brands, hotel and flight booking sites, technology as well as food and beverages merchants. Thai merchants can participate in its e-commerce program and increase their exports to other countries in Asia and beyond.

    According to research, there are more than 57 million internet users in Thailand who are well-versed with digital technologies, mobile and e-commerce. The market is valued at USD 3.5 billion and is expected to generate revenue growth rate of 13.2% annually, reaching USD 5.8 billion by 2022.

    “We look forward to new local merchants to come on board our platform and welcome sellers and buyers to experience the online marketplace for the first time,” Eldee added.

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  • SilkAir boosts Phuket-Singapore flights

    SilkAir boosts Phuket-Singapore flights

    SilkAir, the regional wing of Singapore Airlines, will add a sixth daily service between Phuket and Singapore from May to meet growing demand for travel between Singapore and Thailand. SilkAir currently operates five flights per day on the popular Singapore-Phuket route, and a sixth will be introduced with effect from May 24, noted a release announcing the new flights.

    “The new service will be operated by Boeing 737 aircraft, which feature both Business and Economy Class cabins. Customers can look forward to a full-service experience, including in-flight meals, wireless in-flight entertainment on SilkAir Studio, complimentary baggage allowance as well as through check-in if they are connecting to or from another SilkAir or Singapore Airlines point via Singapore,” the release noted.

    The additional service, MI760, will depart Singapore at 9:50am (Singapore Time) and arrive at Phuket at 10:45am (Phuket Time).

    The return flight will operate as MI759, departing Phuket at 11:35am (Phuket Time) and arriving in Singapore at 2:20pm (Singapore Time). (See schedule below.)

    As the regional wing of Singapore Airlines, SilkAir extends the SIA Group’s network by seeding and developing new destinations in the Asia-Pacific, noted the release.

    The airline took to the skies in February 1989 as Tradewinds the Airline, before evolving into SilkAir in 1992. In its early days, it catered to passengers holidaying in exotic destinations in the region, including Phuket and Tioman. As the carrier developed, regional business destinations such as Phnom Penh, Yangon and Kuala Lumpur were added.

    Today, the full-service airline operates about 400 weekly flights to 49 destinations in 16 countries.

  • Dune London about to open in Singapore

    Dune London about to open in Singapore

    Footwear brand Dune London is planning to expand into Singapore and Bangkok this year.

    The brand says expansion into new international markets is one of its core strategies for this year.

    In the UK, the brand will expand its standalone store network by opening a new location in Newcastle Eldon Square and opening outlet stores in Cheshire Oaks, Icon O2 and Kildare Village.

    South America is another focus area, and Dune plans to roll out eight new concessions with its existing partner in Chile. It will also debut in Romania.

    “This is a very exciting time for Dune London, as international expansion is a focal part of our overall growth strategy,” said James Cox, CEO.

    “We will focus our efforts on specific markets with best-in-class support strategies and tactical initiatives that are regionally appropriate and perfectly aligned with our product and marketing investments.”

    Dune has opened 10 new concessions in department stores in Mainland China, two in Macau and one in Hong Kong, as well as new standalone stores in Kuala Lumpur; Ho Chi Minh City and Hanoi in Vietnam; and Manila in the Philippines.

    In the Middle East, it trades in more than 50 locations.

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  • Kasikornbank aims high as K Plus users pass 10 million

    Kasikornbank aims high as K Plus users pass 10 million

    Thailand’s fourth-largest bank by assets – by loans and deposits it also ranks fourth – has set some eye-catching targets. Take its K-Plus mobile banking offering. Already K-Plus has 10 million customers; that in itself is an already impressive number, given that Kasikornbank has around 14 million customers in total. And it represents impressive annual growth: the bank ended 2017 with 7.3 million users, up from 4.6 million the previous year, but it is a drop in the ocean compared to the target it has set.

    The bank believes it can grow K-Plus numbers to up to 100 million by expanding it to the regional market via partnerships. It is also continuing to target low-income earners who are not currently Kasikornbank customers.

    Organic growth targets for retail loans are in the range of 9-12% for 2019, and it is using machine lending and artificial intelligence technology to initiate financial and life solutions related to customers’ lifestyles and needs.

    K Bank grabs ride-hailing deal

    And then there is the investment in Grab: in November last year, K Bank invested $50m in the ride-hailing firm, with an aim to help launch the GrabPay electronic wallet in its sixth South-East Asian market in 2019.

    The deal also enables K Bank to use Grab’s data on merchants and drivers. The goal is to craft loan products while minimising non-performing loans with optimised use of data. So the Grab app will be integrated with the K Plus app and the bank will offer loans via the apps.

    Other 2018 highlights included a local chart-topping success in the Apple App store. K Plus is Thailand’s most popular app on Apple’s iOS platform outside the gaming segment, ahead of local rival banks Siam Commercial, Krung Thai Bank and Bangkok Bank.

    But it is the use of data and its potential for monetisation that really is attention-grabbing. K Bank really is aiming high in terms of becoming what it terms a ‘data-driven bank’, and believes that project data-driven data will account for one-half of its income by 2020.

    Such ambitions do not come cheap. K Bank’s IT group has set an investment budget for tech development this year of around $160m. It is, admittedly, a modest sum by Chase or Citi standards, but in the context of the Thai market, it is a significant investment. And if K-Plus can grow user numbers to anything approaching 100 million, and get close to its data revenue targets, K Bank will certainly put itself on the map.

    Mastercard trumps Visa for Earthport

    As EPI goes to print comes news that Mastercard looks to head off rival Visa as it attempts to buy Earthport for £233m ($306m).

    Over the Christmas period, Visa made an unexpected £198m bid for the company. The offer was recommended by the Earthport’s board and put to shareholders; however, in a statement to the market on 25 January, Earthport’s board withdrew its recommendation for Visa’s offer and urged shareholders to instead take Mastercard’s deal, which is at a 10% premium to Visa’s. Earthport’s shares, which have risen four-fold since Visa first offered to buy the company, rose another 30% to £0.36.

    Earthport has been around the block a few times since it was founded in 1997. It floated on AIM in 2009, and its adjusted operating loss for 2018 rose by 33% to £8.4m (FY2017: £6.3m). Its share price stumbled around single-digit territory for much of 2018, reaching a low of £0.055 in December, having peaked at £0.48 in April 2015.

    Earthport provides cross-border payment services in the UK, Europe, North America and internationally, operating through two segments: transactional and professional services. It does this through a combination of a network of segregated bank accounts in various geographies, software that mirrors movements of funds from bank to bank, and a knowledge base embedded in the platform and organisation related to each country.

    A deal for either Mastercard or Visa makes sense from the perspective of growing revenue from international money transfers. In other words, Earthport offers a revenue stream not dependent on traditional plastic cards. At the figures being canvassed the purchase price does seem steep, but is quite a coup for the new management team that took over at Earthport last year.

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  • Vietnamese fresh grad income one-sixth of Singaporean peer

    Vietnamese fresh grad income one-sixth of Singaporean peer

    A newly-graduated college student in Vietnam makes one-sixth the income of his Singaporean counterpart, a report says. The minimum base salary of an entry-level position in Vietnam for the first six months last year was $250 a month, according to job advertising company JobStreet, which operates in five countries in Southeast Asia.

    The corresponding figure was $493 in Malaysia, $605 in Thailand and $1,481 in Singapore.

    Among the five countries surveyed, Vietnam’s minimum entry-level salary was only higher than that of Indonesia, which was $225.

    The report found that an entry-level worker was able to earn the most in the real estate industry, with a minimum salary base of $378.

    Information technology and secretary positions followed at $296 and $286 respectively.

    Fresh graduates who work in food technology and sales earned $280 a month.

    The minimum salary base for four employment levels in Vietnam showed increases from the full salary data of 2017.

    Entry-level salary increased by 11 percent, that of junior executive (with 1-3 years of experience), up 6 percent, manager, up 7 percent, and senior manager, up 30 percent.

    The report said that for non-managerial positions, Malaysian employers offered higher salaries than Vietnam.

    But for manager position and above, the Vietnamese market showed greater increments due to high demand, reducing the gap with Malaysia, compared to 2017.

    Although Vietnamese labor productivity increased across the economy in 2018, 48 percent of employers said they faced difficulties in recruiting qualified skill candidates.

    The report used data from 40,000 job advertisements in 50 industries.

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  • Vietnam media giant could lose $20 mln as YouTube pulls plug on deal

    Vietnam media giant could lose $20 mln as YouTube pulls plug on deal

    Digital media conglomerate Yeah1 is set to lose 28 percent of future revenues after YouTube unilaterally terminated its content hosting agreement with it. The company’s financial statements for 2018 showed that activities connected to YouTube generated around VND462 billion ($19.93 million) for Yeah1, or nearly 28 percent of its revenues.

    Profit after tax from these activities were worth VND92 billion ($3.9 million), accounting for more than half of its total profits.

    The termination came after YouTube claimed SPRINGme Pte. Ltd, a Thai multichannel network (MCN) in which Yeah1 owns 16.93 percent had violated its policies with some of its channel management activities.

    Yeah1 Group shares plummeted on Monday following Youtube’s announcement, losing 7 percent. The share fell by 7 percent each in the next two trading sessions too.

    Yeah1 started offering entertainment services combined with advertising after becoming YouTube’s MCN partner in 2015.

    An MCN acts as an intermediary connecting creators of video content and YouTube for a cut. Content creators in return receive benefits such as copyright protection, income tax support, access to IP licensed contents to develop new products, and optimized advertising.

    For Yeah1, views from Vietnam account for nearly 73 percent of total views but only contribute about 18 percent of revenues. The rest comes from ad revenues generated in 150 other countries, with the U.S., Germany and Canada being the main contributors.

    Founded in 2006, Yeah1 is Vietnam’s largest MCN ecosystem, operating TV channels, movie studios, YouTube networks, and digital news.

    It was also the first media company to go public, listing on the Ho Chi Minh Stock Exchange (HOSE) last June.

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  • KBank holds exam for eight graduate scholarships

    KBank holds exam for eight graduate scholarships

    KBank will hold an examination for eight graduate scholarships for 2019 at both local and international institutes in many fields, including business administration, finance and IT, the bank said in a press release on Thursday.Scholarships in business data analytics are offered for the first time this year to seek a new generation of employees with competencies to help KBank press ahead with the strategies to be Customers’ Life Platform of Choice and a Data-Driven Bank. Applications are open from now until April 9, 2019.

    Kattiya Indaravijaya, KBank President, said that because human resources are the nexus of any organizations and national development, KBank is offering eight full scholarships for master programs at both local and international institutions, as follows:

    Graduate scholarships at international institutes in countries determined by KBank, namely the US, UK, France, Switzerland, Japan, China, Hong Kong Special Administrative Region and Singapore, for 14 fields, including business administration, finance, financial engineering, international business, risk management, mathematics, statistics, data analysis, computer science – artificial intelligence (AI), machine learning, human computer interaction or UX UI design biometrics, computer systems and computational linguistics. Graduate scholarships in business data analytics are offered for the first time in 2019 in response to KBank’s operations to use big data in mobilising the business.

    For local institutes, KBank offers scholarships for students to study at Sasin Graduate Institute of Business Administration of Chulalongkorn University and Thammasat University in four academic fields, namely Master of Business Administration Program (MBA), Master Program in Financial Engineering (MFE), Master of Science in Finance (MSF) & Master in Finance (MIF) and Master of Science Program in Marketing (MIM).

    Qualified applicants for business data analytics study must not be older than 28 years old, while applicants for study in other academic fields must not be older than 30 years old and must be a Thai citizen with a bachelor’s degree in any field and a minimum of 3.0 GPA.

    People applying to study abroad must submit their test scores of language proficiency, GMAT or GRE per the criteria together with their applications. Interested persons can fill the application forms at www.kasikornbank.com and find additional information from KBank’s announcement or KBank’s Human Resource Development Department, tel. 02-470 3172 or KBankScholarship@kasikornbank.com from today until April 9, 2019.

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  • Feel International brings Myanmar cuisine into Thailand

    Feel International brings Myanmar cuisine into Thailand

    Myanmar restaurant chain Feel International is set to open in Thailand. Opening in the popular Bangkok tourist area of Pratunam on Thursday (January 24), the group intends to introduce Myanmar cuisine to Thai consumers and foreigners.

    “At present, many restaurants are attempting to cater to the needs of tourists from China, however there are eight flights to Bangkok from Yangon every day, and there are tens of thousands of Myanmar citizens working and studying there, so there is a potential market for Myanmar cuisine”, said Feel International operations director Ko Johnny.

    “This is the very first Myanmar restaurant opened in a foreign capital city. Bangkok is one of the biggest restaurant markets in the world. It offers a wide variety of cuisine, even something as exotic in Asia as Ethiopian. Bangkok is the first step for Myanmar traditional food to penetrate the international markets”, he said.

    The restaurant intends to serve lunch boxes with Myanmar favourites for Myanmar people working in companies and offices around the area.

    Discussions are being held to open further restaurants in Chiang Mai and Mesauk.

  • Thailand’s Zen Corporation completes IPO

    Thailand’s Zen Corporation completes IPO

    Thai restaurant operator Zen Corporation secured THB975 million (US$31.35 million) via an IPO issued last Wednesday.

    The firm sold all 75 million shares on offer, representing 25 per cent of its registered capital, at THB13 each. Its stock price grew 17.69 per cent over the course of its trading debut, as strong demand pushed the value per share up to THB15.30 on the first day.

    Zen Corporation is known for its various restaurant chains, including its eponymous brand as well as Musha by Zen, Sushi Cyu Carnival Yakiniku, AKA, On the Table Tokyo Cafe, Tetsu and de Tummour.

    The firm also operates food delivery, catering, restaurant management and consultancy services, as well as food retail operations.

  • Tesco Asia sales slip further, but profit up

    Tesco Asia sales slip further, but profit up

    Tesco Asia like-for-like sales continue to decline while the UK-headquartered company repositions its offer – masking a stronger underlying performance for the business.

    “We have made good progress in our discussions with suppliers towards a new commercial approach,” explained Tesco CEO Dave Lewis in a quarterly update.

    “We also accelerated planned changes to our operating model in Thailand, helping to reduce costs and underpinning our profit recovery.”

    Lewis said that despite minor changes to the government-issued welfare cards scheme during the third quarter, Tesco Thailand sales fell by about 1 per cent for the 19-weeks including the key Christmas trading period.

    Restructured Thailand store operations have led to reduced costs, underpinning profit recovery at the expense of sales.

    Referring to Tesco’s global operations, Lewis added: “We have more to do everywhere but remain bang on track to deliver our plans for the year and as we enter our centenary we are in a strong position.”

    The December quarter represented the 12th consecutive quarter of like-for-like sales growth for Tesco globally, with sales up 2.6 per cent.

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