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Retail Asia20/03/2018

The South Korean retail industry suggest that the popularity of “1,000 won coffee” is constantly growing. People are fond of it as it is brewed directly from the coffee machines and they get the opportunity to taste it while shopping at the convenience stores. The costs of basic necessities including foods are rising in South […]

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Retail Asia20/03/2018

Lotte China plans to wrap up the sales of its hypermarket chain in China within the next three months. Potential buyers have started to inspect the South Korean retail giant’s stores. While many have reviewed documents, Chinese retailer Liqun Group was the first to carry out on-site inspections of Lotte Mart’s Chinese stores. However, a […]

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Retail Asia20/03/2018

Swiss travel retail operator Dufry says its sales in its Asia-Australia-Middle East division rose 5.4 per cent last year with most markets contributing to the improvement. Turnover was CHF809.1 million (US$849 million) last year, up from CHF770.7 million the previous year. The company said both its Hong Kong and Macau businesses recorded a comeback, with […]

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Retail Asia19/03/2018

LG Electronics has opened a premium home appliance store in Kuwait to retail its upmarket Signature range of products. The two-storey store, located in Rozana Mall, features 433sqm of display space showcasing high-resolution televisions, and household appliances such as washing machines and refrigerators. LG Electronics has a growing commitment to the Middle Eastern market where […]

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Retail Asia19/03/2018

Scottish golfwear brand Glenmuir has opened its first Korea pop-up store in Gangnam. Located in Shinsegae Department Store, the short-term store offers the company’s Spring/Summer 2018 collection. Glenmuir plans to open a permanent shop inside Shinsegae Department Store in the near future. “We are excited to bring Glenmuir to customers in Korea through our pop-up […]

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Retail Asia16/03/2018

Korea’s It’s Hanbul Cosmetics plans to expand into Japan by partnering with a local retailer. The company has brought its flagship brand It’s Skin to Japan via two pop-up stores inside ‘Niko and…’ stores in Tokyo and Funabashi, and plans to open eight more this year. About 500 items from the It’s Skin range will […]

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Retail Asia16/03/2018

Fast-food chain NeNe Chicken Malaysia has opened its second outlet, in Petaling Jaya. Located at The Starling Mall, the new restaurant can accommodate 120 customers with an outdoor seating area. NeNe Chicken Malaysia MD Raymond Wong said the chain would focus on expanding its menu and locations in upcoming years. The chain opened its first […]

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Retail Asia09/03/2018

Mercedes and BMW both sold more cars in South Korea than General Motors for the first time last month, helped by the growing popularity of German premium brands and as consumers shied away from GM after it announced a major restructuring. While home-grown automakers Hyundai Motor and Kia Motors Corp dominate the local market, high-end […]

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Retail Asia09/03/2018

E-business last year was particularly strong for apparel retailer Giordano International. Overall, consolidated sales reached HK$5.4 billion, up 5.2 per cent. Group comparable-store sales and comparable-store gross profit rose by 5.2 and 5 per cent respectively. Consolidated gross margin edged up by 0.1 points to 59.5 per cent. Profit after income taxes attributable to shareholders […]

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Retail Asia08/03/2018

Non-bank institutions will be allowed to directly engage in currency exchange business starting next month as part of a broader deregulation drive to promote the local financial technology sector, the finance ministry said Tuesday. Under revised regulations on currency exchange, a qualified fintech firm will be able to offer a currency exchange service of up […]

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Retail Asia08/03/2018

Tech-savvy Koreans in their 20s and 30s are increasingly turning to blockchain to bypass the privacy and financial restrictions they regularly encounter online. International blockchain pioneers now frequent the country to give presentations at conferences in Seoul. “Every time I come to Korea, I can sense there are more developers leaping into the world of […]

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Retail Asia08/03/2018

Korea’s financial regulator said Tuesday the government will support “normal transactions” of cryptocurrencies, about three weeks after it banned their trading through anonymous bank accounts. The remarks by Choe Heung-sik, governor of the Financial Supervisory Service, were seen as being in stark contrast to the government’s previous stance that it could consider shutting down local […]

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Retail Asia07/03/2018

The cost of food and basic necessities in South Korea is continuing to rise, after the government decided to raise the minimum wage in January by the largest annual increase in 17 years. Scores of food and beverage establishments have raised prices due higher costs for labor and ingredients. A franchise specializing in grilled pork and a […]

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Retail Asia07/03/2018

South Korean beauty brand Mamonde has expanded into the US via the Ulta retail chain. This marks the brand’s first foray outside its home market and the company expects the exclusive retail partnership to be the first step of a broader international foray. “We’re delighted to be the exclusive US brick and mortar retailer for […]

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Retail Asia06/03/2018

Daesik Kim, the founder and former CEO of Bithumb—the world’s largest cryptocurrency exchange—is returning to the payments industry as the Chief Cryptocurrency Officer of Bezant, a payment protocol and cryptocurrency for the digital entertainment and e-commerce sectors. Bezant has already raised US$6.28 million in its private token sale, and is targeting a total ICO of […]

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Retail Asia06/03/2018

Muji Korea has opened its largest store in Seoul’s Seodaemun district. Called Muji Sinchon, the five-storey store offers new items and services, including Open Muji, Sinchon to Go, a cafe and a books department. On first floor, Sinchon to Go shares information of Sinchon area and recommends famous places and shops, which aims to connect […]

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Retail Asia05/03/2018

Korea Investment Management Co. has obtained a 99-year leasehold for €370 million ($454 million) of two buildings in Brussels used as the headquarters of Belgium’s foreign ministry, in the largest property investment by a South Korean investor in the European country. The asset manager, a sister company of brokerage Korea Investment & Securities Co. Ltd., […]

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Retail Asia05/03/2018

South Korean cosmetics brands, wildly successful at home and across Asia, now have their eye on the European beauty market where their penetration is, for now, only skin-deep. Picking luxury goods powerhouse France as its bridgehead to seduce European consumers, South Korea’s leading cosmetics firm Amore Pacific launched its top brand Sulwhasoo at the upmarket Galeries Lafayette department store a few […]

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Retail Asia05/03/2018

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US fashion brand 3.1 Phillip Lim is opening stores in Seoul via Handsome, the apparel unit of Hyundai Department Store. Handsome says 3.1 Phillip Lim men’s and women’s apparel, bags and accessories have just gone on sale at outlets in the luxury hall of Galleria Department Store in Apgujeong. Handsome, which has 27 global fashion […]

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Retail Asia05/03/2018

British fashion brand Reiss has launched in South Korea, at Shinsegae Department Store in Kangnam. Introduced by Shinsegae International, the brand plans to open 12 stores in both Shinsegae and Lotte department stores across the country by the end of this year. Reiss says it expects high sales with its offering of trending items priced […]

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