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Retail Asia03/08/2018

South Korean luxury eyewear brand Gentle Monster has opened an eye-catching new store in London. The 450sqm store was launched in the city’s West End, representing the initial step in a broad-ranging plan to expand the firm’s business in Europe. The new London flagship is enhanced by robotic installations and an “active volcano” described by […]

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Retail Asia03/08/2018

Fashion label Ralph Lauren sales reached US$1.4 billion for the first quarter of this fiscal year, driven by sales in Asia and Europe. Ralph Lauren sales in Asia increased 19 per cent to US$248 million on a reported basis and by 16 per cent in constant currency, driven by strength in both retail and wholesale […]

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Retail Asia03/08/2018

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Lotte Duty Free exits its contentious Incheon International Airport Terminal 1 cosmetics, fashion and leathergoods contracts, to be replaced by Shinsegae Duty Free. As reported, South Korea’s duty free giant served notice on 13 February of its intention to quit three contracts – DF1 (P&C), DF5 (leathergoods & fashion) and DF8 (miscellaneous categories). The company […]

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Retail Asia03/08/2018

South Korean fashion retailer A Land, known as a department store format for millennial shoppers, has opened in Brooklyn, New York. The store’s first Western Hemisphere location plays host to many of the same brands it features in its Asian stores, marking a point of difference from US fashion retailers. The majority of products on […]

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Retail Asia03/08/2018

International luxury fashion and perfume house Givenchy has just launched in Korea. Its first Givenchy Beauty outlet opened on 31 July at the Hyundai Department Apgujeong store in the posh neighborhood in Southern Seoul. A Hyundai Department Store official said “Hyundai Department Store in Apgujeong has very trendy customers who have a big purchasing power. […]

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Retail Asia02/08/2018

The beauty care industry is doing better than expected in Vietnam, but foreign brands are the ones sitting pretty. Nguyen Van Minh, chairman of the Vietnam Essential Oils Aromas and Cosmetics Association (VOCA), said companies in the beauty and personal care industry have seen stronger growth than they’d forecast. “Vietnam is an emerging market for […]

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Retail Asia01/08/2018

South Korean retail sales rose 7.4 per cent in the first half of this year based on solid performance in e-commerce. Data from the Ministry of Trade, Industry and Energy showed online sales running 16.3 per cent higher than during the same time last year, while offline sales rose just 2.7 per cent. Grocery shopping […]

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Retail Asia31/07/2018

London-based household appliance maker Morphy Richards has launched in the South Korean market. The heritage brand hopes to find a niche in a country dominated by global electronics giants via its local distributor M&S Solution, which already hosts an appliances e-commerce platform. It will expand the distribution channel to Korean department stores, electronics stores and […]

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Retail Asia31/07/2018

Global research organisation IGD has reported that Asia’s large format retailers are set to grow 3.3 per cent a year to 2022, with Vietnam, India and the Philippines forecast to see double-digit growth from large format players over the next five years. Most of this growth is predicted to be driven by domestic retailers, except […]

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Retail Asia31/07/2018

The top two domestic beauty companies have posted strong second quarter earnings, indicating that they are finally recovering from the loss of Chinese customers following the Thaad deployment last year. Both Amorepacific and LG Household & Health Care announced their earnings this week, with LG taking the lead with record-high second quarter earnings. Amorepacific Group’s […]

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Retail Asia31/07/2018

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South Korean retailer Lotte will launch a new department in charge of the business group’s online businesses this week. The move is part of a plan to speed up efforts to cope with the rapid expansion of the country’s online market. Earlier in May, Lotte unveiled the plan to inject 3 trillion won (US$2.69 billion) […]

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Retail Asia31/07/2018

Swedish furniture giant IKEA will open its third store in South Korea in Giheung-gu, Yongin to make its products more accessible to customers in the Southern metropolitan area. IKEA Korea held the groundbreaking ceremony for the new outlet on 25 July in Giheung-gu, Yongin, 34 kilometers Southeast of Seoul. The retail space of 91,000 square […]

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Retail Asia30/07/2018

Fashion retailer Off-White has opened two more retail locations in Seoul. The standalone Off-White South Korea store in Cheondong is made with light brick with glass inlays, giving pedestrians a view into the store’s floor and displays of sneakers, accessories and other apparel. The second Miles Davis-inspired store in Hyundai Coex is blue-toned with wireframe […]

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Retail Asia30/07/2018

Kia Motors said Friday that its second-quarter net profit fell 15 percent from a year earlier on a strong won and increased incentives to cut inventories. Net profit for the three months that ended on June 30 fell to 331.8 billion won from 389.6 billion won a year earlier, the company said in a statement. […]

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Retail Asia30/07/2018

Half of smartphones sold globally this year will have an artificial intelligence (AI) assistant, a report by an industry consulting firm showed Sunday. According to Strategy Analytics (SA), 47.7 percent of smartphones sold on the global market in 2018 will be equipped with some kind of on-device AI assistant, up from 36.6 percent last year. […]

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Retail Asia30/07/2018

LG Electronics is rolling out a limited-edition luxury smartphone that costs nearly 2 million won ($1,790). The smartphone under the Signature brand name – a second edition after an earlier model released last December – will be available for preorder for two weeks starting today and begin offline sales in Korea on Aug. 13. It […]

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Retail Asia30/07/2018

Hyundai Motor’s labor union voted in favor of a modest wage increase late on Thursday, settling pay negotiations before their summer vacation in August for the first time in eight years. The speedy deal stands in stark contrast to last year, when a series of strikes and negotiations dragged on into early 2018. The challenging […]

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Retail Asia30/07/2018

Lee Jung-min, who runs a small business in Seoul, has been trying to figure out how to cope with the rise in labor costs expected for next year. “We take home whatever we have left after paying all the expenses,” said the businessman in his 30s. “Every penny counts for people like us and it […]

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Retail Asia25/07/2018

About 2,000 planes flew over Korea per day on average during the first half of this year, according to the Ministry of Land, Infrastructure and Transport. The transport ministry’s data, released on Monday, showed that a total of 394,000 planes travelled over the country, including those that landed on Korean soil and those that were […]

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Retail Asia25/07/2018

Auto parts maker Hyundai Mobis announced Sunday that it has developed artificial intelligence-based software and a chatbot equipped with a deep learning algorithm to speed up its research in smart car technology. The artificial intelligence-based software is called Maist, short for Mobis Artificial Intelligence Software Testing, and has been co-developed by a research team at […]

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