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Author: Retail Asia

Retail Asia16/04/2021
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General

London based Techsembly closes US$1.37 million investment round

3min0
London-based multi-store, mutli-vendor e-commerce solution for global scaling platform Techsembly has raised £1 million from SuperSeed Ventures and a number of undisclosed private investors. The funding is expected to be used to assemble a cross-marketing team that will initially target European and Asian markets. “The opportunity to scale is huge. Amy and the Techsembly team have already built a […]
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Retail Asia16/04/2021
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Fashion

Piaget to expand store network across China

2min0
Piaget, the luxury watch brand from Switzerland, will be opening more stores in 2021, especially in the Middle East and China, Chief Executive Chabi Nouri has told Reuters. “We’ll open more stores this year. We’ll reopen a flagship store in Beverly Hills and also have projects in the Middle East and China,” Nouri noted in […]
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Retail Asia16/04/2021
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Finance

First Digital Trust Partners Crypto Storage Firm Amid Asia Demand

2min0
The multi-asset custodian will work with Fireblocks, a blockchain-based platform for securely moving, storing, and issuing digital assets in the finance industry, to cater to the increasing demand from fintech companies seeking custodial solutions in Asia. Hong Kong-based First Digital Trust (FDT) will integrate Fireblocks’ digital asset infrastructure on its platform to improve institutional-grade digital asset custody and protection in Asia as […]
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Retail Asia16/04/2021
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Finance

Citi Names Wealth Co-Heads for Asia Pacific

2min0
Citi made a raft of new appointments to its wealth management unit including the promotion of its Asia head of private banking. Citi named Steven Lo co-head of the wealth unit in the region alongside APAC head of retail banking Fabio Fontainha, according to an internal memo. Lo was named Asia head of the private bank in 2017, […]
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Retail Asia16/04/2021
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Finance

StanChart Wealth Planning App Debuts in Singapore

2min0
The bank joins other players in providing digital wealth advisory with its new SC Goals Planner app, now available on SC Online Banking and SC Mobile. Standard Chartered has launched a free, do-it-yourself online financial planning solution developed in collaboration with Singapore-based fintech BetterTradeOff, which advanced leverages data analytics for clients to make data-led decisions […]
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Retail Asia16/04/2021
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General

Bamboo Airways plans US IPO in Q3

2min0
Private carrier Bamboo Airways is considering an initial public offering of shares in the U.S. this year to raise $200 million. The IPO is expected to take place in the third quarter, with the company likely to offer a 5-7 percent stake to secure a market capitalization of up to $4 billion, quoted its chairman, Trinh Van Quyet, […]
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Retail Asia16/04/2021
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Food

Vietnam eyes $4 bln in shrimp exports

1min0
Vietnam targets a 5 percent increase in shrimp exports this year to $4 billion. It also targets output of 930,000 tons and having 740,000 hectares of shrimp farms, said Tran Dinh Luan, director of the Directorate of Fisheries, said at the VietShrimp Aquaculture International Fair in Can Tho City on Wednesday. He expected Vietnam to […]
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Retail Asia16/04/2021
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E-Tailing

Angry Indian traders counter Amazon summit with own event

3min0
Thousands of Indian small businesses will organize an event this week in protest at the business practices of foreign e-tailers like Amazon.com taking a dig at the U.S. group’s summit with their own event. Starting Thursday, Amazon is organizing a virtual summit in India named “Smbhav,” which phonetically means “possible” in Hindi, to showcase opportunities […]
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Retail Asia15/04/2021
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General

Buy2Sell Vietnam adds new stores in HCMC

2min0
The B2B e-commerce platform’s newly opened stores are located in two of the most crowded shopping locations in Ho Chi Minh City, Lotte Mart and SC VivoCity Shopping Mall. Buy2Sell has launched a cosmetics store at Lotte Mart Vietnam, offering attractive choices and new selections of high-end cosmetic brands from Europe, South Korea, and the […]
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Retail Asia15/04/2021
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General

Singaporean retailer opens three AI-powered unmanned grocery stores

6min0
Cheers, a sub-brand of Singapore’s largest Convenience store chain FairPrice recently launched an AI-powered cashierless store with Cloudpick. This is not the first unmanned convenience store opened by Cheers. The company piloted its first “unattended” store in Nanyang Technological University (NTU) in 2017, followed by two more at the National University of Singapore. Unlike the […]
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Retail Asia15/04/2021
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Automotive

Auto sales make recovery in Q1

1min0
Auto sales rose by 36 percent year-on-year in the first quarter to 70,952 units, with all categories of vehicles achieving double-digit growth. Passenger vehicles and commercial vehicles were up 34 percent and 43 percent, according to the Vietnam Automobile Manufacturers Association (VAMA). Truong Hai Auto Corporation, or Thaco, which assembles several brands of cars and […]
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Retail Asia15/04/2021
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Finance

HSBC Swims Against Crypto Tide

3min0
The bank banned customers of its online trading platform InvestDirect from adding MicroStrategy stock to their portfolios, calling them a «virtual currency product. HSBC has no appetite for direct exposure to virtual currencies [VCs] and limited appetite to facilitate products or securities that derive their value from VCs,» a HSBC spokesperson said in a statement. […]
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Retail Asia15/04/2021
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Fashion

H&M marks Zalora launch with exclusive online collection

3min0
The partnership with H&M and  Zalora as H&M’s e-commerce partner in Southeast Asia covering four markets namely Malaysia, the Philippines, Singapore, and  Indonesia. The tie-up debuted in Indonesia in mid-March, 1 April in Malaysia, and on 14 April in Singapore. H&M and Zalora also confirmed the extension of the initial two-month collaboration in the Philippines, which […]
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Retail Asia14/04/2021
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Finance

Chinese Banks Accelerate Branch Cuts

2min0
Chinese lenders are increasingly closing down branches as online and mobile banking penetration continues to rise. Mainland lenders have closed 430 branches in the first three months of 2021, according to data from the China Banking and Insurance Regulatory Commission’s (CBIRC) annual report. This marks an accelerated reduction after the industry closed 1,300 branches in […]
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