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Tag: US

  • Uniqlo US quietly closing stores

    Uniqlo US quietly closing stores

    Tokyo-based fast-fashion brand Uniqlo US, a 1700-store global chain with 43 US outlets, has been retrenching amid slowing sales.

    It has quietly closed five stores in the US since January, all in suburban shopping malls.

    “The US is very important to the company,” says spokesman Aldo Liguori. “We are focussing on large cities where we can open large stores.”

    As well as urban markets, Uniqlo is beefing up its customer service, says Liguori.

    Chief executive Tadashi Yanai last year said brand penetration in big cities such as New York, San Francisco and Chicago was good, “but not in the suburbs”.

    Owned by Fast Retailing, which has seven clothing brands, Uniqlo said last year that it would be scaling back its US expansion after opening 17 stores in 2014. It opened four stores last year, and has announced that three stores will be opened this year.

    Meanwhile, the brand may face competition from Irish-based discounter Primark, which is expanding in the US.

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  • Lawson Japan eyes US for expansion

    Lawson Japan eyes US for expansion

    Convenience store owner Lawson Japan is seeking to buy chains in the US with the aim of boosting its number of overseas outlets by about a quarter within a year.

    “In the US, where the market is mature, mergers and acquisitions are a simple and straightforward way for us to expand, which would also allow us to buy time to boost the number of shops,” says Sadanobu Takemasu, who became Lawson president and COO this week.

    He says the group will also focus on expanding in Southeast Asia.

    Lawson has about 12,500 stores in Japan and 793 outside the country, and is targeting a 26 per cent increase to 1000 overseas outlets by February.

    Lawson joins other chains such as Seven & I Holdings’ 7-Eleven and FamilyMart in seeking overseas expansion while competing to displace conventional grocery shops and restaurants domestically amid Japan’s economic malaise and falling population.

    Lawson has a 5.3 per cent market share of Japan’s grocery retail sales, second only to 7-Eleven’s 12.2 per cent share, according to data from Euromonitor International. The situation is the same in the fast-food market, with 7-Eleven holding a  33.8 per cent share followed by Lawson with 12.4 per cent.

    Prime Minister Shinzo Abe says he is postponing an increase in sales tax until October 2019 as the government seeks to avoid depressing private consumption.

    But Takemasu says any changes in sales tax timing would have had only a temporary impact on Lawson’s business.

    “In Japan, I want to focus resources on the existing businesses to strengthen them, so I’m not considering adding new businesses through mergers and acquisitions for now.”

    Trading conglomerate Mitsubishi Corporation, where Takemasu was an aide to the president before joining Lawson, is Lawson’s top shareholder with a 33 per cent stake.

    Lawson bought the Seijo Ishii supermarket group in 2014, and the United Cinema chain the same year.

    While Lawson has outlets in China, Indonesia and the Philippines, Seven & I has about 40,000 shops outside Japan while FamilyMart has about 6000.

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  • South Korea Now Fourth Biggest Foreign Investor in US Real Estate

    South Korea Now Fourth Biggest Foreign Investor in US Real Estate

    Over the past few years South Korea has invested billions of dollars in the real estate market in the United States. The country has always been a major investor but just recently the diversity and stability of the US market has made it increasingly attractive.

    Last year South Korea became the fourth largest foreign investor in office space in the United States but its interest isn’t confined to one particular type of property. Although commercial buildings are of major interest, investors are also putting money into data centres, retail and logistics.

    According to Commercial Property Executive, Koreans have been actively investing in foreign real estate since around the turn-of-the-century. Even though South Korea isn’t a small market, there is still a lot of interest in investing globally with investors looking to diversify their portfolio in order to get a better yield. Over the past year South Korean funds have made high-profile investments in the US market, attracted by the fact that the market in this country is very developed, offering more opportunities and more deals.

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    Most of the interest from South Korean investors is from global brands such as Samsung SRA and from pension funds, and is mainly centered in gateway cities. These cities include Los Angeles, San Francisco, Washington DC and Chicago, but there is also increasing interest in secondary cities that include Seattle and Denver. While there is considerable interest in commercial properties, this isn’t to the exclusion of residential properties, provided they are of the right type. This doesn’t always mean they have to have a huge price tag, although this is often the case. For asset management companies, prices can go up to $400 million and may start at $150 million.

    In spite of the interest from South Korean investors, there are various challenges that have to be resolved during transactions. These are mainly due to the difference in cultures as transactions in Korea are conducted in the way that is very different from the US. Even with these differences, there is expected to be continued growth in the amount of South Korean funds being invested in the US as there just isn’t as much opportunity in Korea as in foreign countries. Although this growth may be set to continue there are signs the Koreans are becoming more selective in terms of asset types and yield requirements as they are becoming more cautious.

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  • Singapore’s SME retail exporters can now gain better access to US market

    Singapore’s SME retail exporters can now gain better access to US market

    The revised de Minimis Threshold increases the limit to the United States from US$200 to US$800.

    Web-based small and medium enterprises (SMEs) retail exporters in Singapore can now gain better access to the United States market with the revision of de Minimis Threshold.

    The revised de Minimis Threshold – the amount at which US import duties apply – increased the limit from US$200 to US$800. This means that sellers no longer need to pay the US import duties when the price of their products is under US$800.

    “The revised de Minimis Threshold provides a timely opportunity for local businesses to internationalise. The US is the number one export destination for eBay Singapore sellers with its strong consumer purchasing capacity and high expenditure in e-commerce,” said Teri Canayon, country manager of eBay Singapore Cross-Border Trade. “With a lower barrier for cross-border e-commerce for our Singapore SMEs, there will be even greater incentives to boost exports to the US market, ultimately driving greater growth.” 

    Sellers can also mail higher value products directly to the US market, which allows them to better manage their supply chain and inventory costs.

    In addition, the cost of products to American consumers is lowered. This encourages them to buy more overseas, which may eventually give Singapore businesses a better chance to grow sales in the US market.

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  • Ulta Beauty on expansion fast track

    Ulta Beauty on expansion fast track

    US retail chain Ulta Beauty is on a rapid expansion program, buoyed by soaring demand for cosmetics.

    In the words of US retail publication Chain Store Age, “no [US] retailer has more momentum right now than Ulta Beauty”.

    In the last financial quarter – to January 31 – the company opened 103 new stores, taking its total network to 874. It has already confirmed another 100 for this year as part of a US$390 million capital expenditure program.

    And it is achieving growth not just by network expansion: same store sales rose 12.5 per cent in the last quarter and it is expect to post double digit growth throughout 2016.

    “We continue to benefit from the powerful combination of strong demand in the beauty category and Ulta Beauty’s highly differentiated offering that propels our business to transcend prevailing trends across the retail landscape,” said Ulta Beauty CEO Mary Dillon.

    Fourth quarter sales reached $1.3 billion and net income increased 23.6 per cent to $107.8 million.

    Full year sales increased 21.1 per cent to $3.9 billion and same store sales increased 11.8 per cent compared to a 9.9 per cent the prior year. Full year profit increased 24.5 per cent to $320 million.

    As well as its swelling store ranks, Ulta Beauty is thriving online: fourth quarter eCommerce sales increased 44.2 per cent to $94.8 million and full year eCommerce sales by 47.5 per cent to $221.1 million.

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  • Jollibee takes big bite of Smashburger

    Jollibee takes big bite of Smashburger

    Asia’s largest fast food company, Jollibee, has taken a 40 per cent stake in a fast-rising American burger chain, Smashburger for US$335 million.

    Launched in 2007, Smashburger has over 335 corporate and franchised restaurants operating in 35 states and seven countries. Approximately 60 per cent of Smashburger’s outlets are company owned and operated. The company is growing at a rate of  20 per cent annually.

    Jollibee, publicly listed in the Philippines, has been actively seeking an investment in a leading US growth brand. It currently operates and franchises a network of more than 3000 restaurants worldwide under the trade names Jollibee, Chowking, Greenwich, Red Ribbon, Yonghe King, Hong Zhuang Yuan, Mang Inasal, Burger King Philippines, San Pin Wang, and Jinja Bar. Jollibee also has a 50 per cent interest in the Super Foods Group, which operates and franchises restaurants under the Pho 24 and Highlands Coffee brands throughout Vietnam.

    “We at Smashburger are excited about our new strategic partnership with Jollibee,” said Rick Schaden, chairman and co-founder.

    “As founders and entrepreneurs we both have built teams that focus on bringing the highest quality and best tasting food to our restaurant categories. [Jollibee] founder and chairman, Tony Tan Caktiongand I share a true passion for the restaurant business having opened and operated our very first restaurants, we believe our companies still cultivate that spirit today as we initiate this partnership.”

    Caktiong  described Smashburger as one of the fastest growing restaurant brands in the US.

    ”We are very excited to work side by side with the owners and management of Smashburger as we continue its growth. This acquisition will make JFC’s presence in the US more significant, going beyond the Filipino market and serving mainstream consumers in the $100 billion US burger market, a food segment which is estimated to be almost three times larger than the pizza, sandwich or coffee segment in terms of sales.

    “This acquisition will make the US one of JFC’s most important markets and drivers of long term growth along with the Philippines, China and other Asian markets abroad.”

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  • JD.com opens US office

    JD.com opens US office

    JD.com, China’s largest online direct sales company, has opened its first US facility, a new research and development center located in Silicon Valley.

    Situated in Santa Clara, the new office will focus on developing and enhancing new and existing technologies that will improve the user experience for its customers in China and boost the company’s offerings.

    The facility will also allow easier interactions between the company and US retailers, partners and brands seeking to establish or expand their presence in China on JD’s shopping platforms.

    “Given the scope and strength of American brands, products and capabilities, the US was the obvious choice as we sought a location for our first office outside of Asia,” said Richard Liu, founder and CEO of JD.com.

    Chen Zhang, senior vice president of JD.com and head of R&D for JD Mall will initially oversee the new office, which will focus on areas such as cloud computing, mobile applications and big-data infrastructure, and will provide both rotational job possibilities for engineers in China and opportunities for certain skilled technical workers in the area.

    Last July JD.com launched US Mall on its website, dedicated exclusively to meeting the demand in the Chinese market for authentic imported American products.

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  • Aeropostale to enter India, Indonesia

    Aeropostale to enter India, Indonesia

    US mall-based youth fashion discounter Aeropostale has announced new partnerships in India and Indonesia.

    The company will open stores in India through a licensing agreement with Arvind Lifestyle Brands Limited, and in Indonesia through a licensing agreement with PT Mitra Adiperkasa TBK (MAP).

    Julian R. Geiger, Aeropostale CEO, said India and Indonesia are two of the most populated countries in the world and his company sees significant opportunities by taking the Aeropostale brand to them both.

    “Following the successful launch of our brand in the Philippines and Singapore, we are excited to capitalise on the strong growth prospects in both India and Indonesia. We are totally comfortable partnering with two of the largest and strongest retailers in their respectful regions, Arvind Lifestyle Brands Limited and MAP.”

    Aeropostale’s expansion plans in India include the opening of 50 standalone stores, 150 concessions and eCommerce operations across the country over the five years, from March 2016.

    The company expects to open 10 to 12 standalone stores in Indonesia over the next five years, with its first store opening in Jakarta in Fall 2016.

    Continued Geiger: “We anticipate ending the year with over 300 locations across 17 countries. Our aggressive international growth underscores the strength and recognition of the Aeropostale brand, and we look forward to announcing new global licensing partnerships throughout the year.”

    Aeropostale  principally targets males and females aged 14 to 17 and four to 12 year-olds through its P.S. from Aeropostale stores and website.

    Arvind Lifestyle Brands has licensing relationships with many international brands including Gap, TCP, Gant, Nautica, Arrow, Izod, US Polo Association, Elle, Ed Hardy, Hanes, Cherokee and Geoffrey Beene.

    PT Mitra Adiperkasa TBK  is a leading lifestyle retailer in Indonesia with over 1800 retail stores and a diversified portfolio that includes Starbucks, Zara, Marks & Spencer, Sogo, Seibu, Debenhams, Oshkosh B’ Gosh and Reebok.

  • Hiya Kitty shops destined for US

    Hiya Kitty shops destined for US

    The Good day Kitty experiential retail expertise is heading for America.

    Sanrio, the Japanese international way of life model which owns the favored, mouthless pop icon Whats up Kitty, has partnered with  Common Parks & Resorts to develop Hey Kitty interactive retail shops at Common Orlando Resort and at Common Studios Hollywood.

    The outlets will mark Whats up Kitty’s official retail debut at theme parks in North America and supply specialty merchandise together with stationery, residence items, attire, equipment and collectibles.

    The Orlando retailer will open later this yr, whereas the Hollywood retailer opening date has but to be confirmed.

    Nearly all of merchandise shall be dedicated to Hiya Kitty; Sanrio properties Chococat, My Melody, Badtz-Maru, Purin and Keroppi will even have a presence. Good day Kitty confectionery and specialty co-branded Hiya Kitty Common park-exclusive merchandise may even be obtainable.

    Sanrio has confirmed the Howdy Kitty shops at Common Studios will supply enhanced interactive retail experiences. Clients can store for customized merchandise, take pleasure in photograph alternatives with Sanrio properties, create memento variations of Good day Kitty’s signature bow, and even meet Hey Kitty herself.

    “Our partnership with Common brings Sanrio’s experiential leisure presence to a brand new degree,” stated Janet Hsu, president and COO of Sanrio, Inc.

    “We look ahead to this introduction into Common theme parks to supply new connection factors to Sanrio followers of all ages.”

    Sanrio’s partnership with Common Parks & Resorts highlights the model’s continued enlargement into way of life leisure. Current tasks embrace the efficiently unprecedented ‘Hey Kitty Con’ fan conference and ‘Howdy! Exploring the Supercute World of Hey Kitty’, a record-breaking museum exhibition on the Japanese American Nationwide Museum in Los Angeles.

    Hey Kitty’s Supercute Friendship Pageant, a reside leisure present and interactive fan pageant that has reinvented the idea of a reside character present, is at present touring choose cities within the US and Canada. Sanrio’s distinctive strategy to way of life leisure has confirmed an efficient means of connecting with their legions of followers of all ages throughout the nation.

    Hiya Kitty lately celebrated her 40th anniversary. Her picture adorns greater than 50,000 merchandise in additional than 130 nations – and upwards of 15,000 US retail places alone, together with 80 Sanrio boutiques.

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