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Retail Asia09/02/2018

Lotte Shopping Co., the retail affiliate of South Korea’s fifth-largest conglomerate Lotte Group, said Thursday it swung to the red in 2017 from a year earlier amid a diplomatic row between Seoul and Beijing over the deployment of a U.S. anti-missile system here. Its losses reached 20.6 billion won (US$18.9 million) on a consolidated basis […]

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Retail Asia09/02/2018

Korea Ginseng Corp (KGC) is expanding into the health and beauty market with experimental stores. Called “Lounge 1899” as a way to emphasise 119 years of history of its ginseng, the stores target consumers in their 20s and 30s and foreign tourists. They allow consumers to try out premium red ginseng-based products from KGC’s “Cheong […]

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Retail Asia09/02/2018

South Korea’s Minigood chain is heading for Israel, where an individual has signed a five-year exclusive franchise agreement. Daniel Pardilov from the Pardilov & Co law firm, which represents the franchise holder, says the plan is to open at least 10 outlets in the first two years, including three this year. This news comes on […]

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Retail Asia08/02/2018

Korean eyewear brand Gentle Monster has opened its fifth flagship store for China, in Guangzhou. It has set up in two adjacent units at the Taikoo Hui mall, which is known for its luxury boutiques. Like other Gentle Monster flagships, the store has a themed interior design, this time with cues taken from the realm […]

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Retail Asia07/02/2018

Watsons personal and beauty care stores across Korea will go through a makeover under a new name “Lalavla,” its operator GS Retail announced on Tuesday in hopes to take on the dominant player Olive Young in the burgeoning street beauty market through localized appeal. GS Retail introduced Watsons, the biggest multi-beauty and personal care store […]

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Retail Asia07/02/2018

Following series-A funding of US$2.75 million, Taiwan online retail platform Citiesocial seeks to expand into other parts of Asia. Its funding round was led by the Taiwan fund of Alibaba Group Holding. Citiesocial, which sells items such as water bottles and kitchenware from emerging brands, plans to use the funds to bolster services and technology […]

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Retail Asia07/02/2018

Singapore’s sovereign wealth fund GIC has injected KW100 billion (US$91 million) into Korean retail major E-Land Group. The round was part of a KW200 billion investment led by Hong Kong-based Anchor Equity Partners. With interests in malls, restaurants, theme parks, hotels and construction businesses, E-Land has built its cornerstone on fashion apparel. This latest infusion […]

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Retail Asia06/02/2018

Korean childrenswear brand UniFriend Vietnam is planning expansion into Ho Chi Minh City via franchising. After opening three stores in Hanoi towards the end of last year, the brand is seeking franchisees and agents to sell its products in Ho Chi Minh City and other cities. Targeting children under 12 years old, UniFriend opens stores […]

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Retail Asia06/02/2018

GS Retail, which runs South Korea’s GS25 convenience store chain, is facing questions over its profitability after it posted contracted numbers in its earnings last year. According to its regulatory filing, GS Retail logged KW30.9 billion (US$28.4 million) in operating profit last year, down 19.3 per cent from 2016. Its net profit also skidded to […]

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Retail Asia05/02/2018

Many goods imported from the Republic of Korea (RoK) into Việt Nam will be exempted from import taxes in 2018, due to the Việt Nam-Korea Free Trade Agreement (VKFTA). The Government recently issued Decree No149/2017/NĐ-CP, which regulates a new special preferential import tariff, as agreed upon in the VKFTA, and to be put in place […]

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Retail Asia02/02/2018

Singapore’s first global shopping platform EZbuy says it plans to almost double its product offering to 6 million items from brands and sellers in Korea, Taiwan and the US. It will bring on board a further 100,000 merchants by the end of the year. Its Korea Marketplace offers more than 10,000 items such as streetwear, […]

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Retail Asia02/02/2018

Hyundai Motor unveiled on Tuesday a re-designed Santa Fe, hoping the first makeover of the sport utility vehicle (SUV) in six years will help rectify a sales slowdown at the South Korean automaker, especially in the key U.S. market. The revamped version of its top-selling SUV in the United States and South Korea features a […]

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Retail Asia01/02/2018

Shoppers in their 20s in South Korea have become more prone to spending big on luxury items and services, emerging as a new consumption trend, according to industry data. Mobile commerce company Tmon says the sales pattern over the past three months showed that purchases among young shoppers of luxurious products and high-end services in fashion, […]

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Retail Asia01/02/2018

South Korea’s financial regulators set the pace for sweeping cryptocurrency regulations to curb speculative overheating and illegal activity, including banning foreigners and minors from opening new cryptocurrency accounts. Financial Services Commission Vice Chairman Kim Yong-beom announced measures to ban anonymous trading on domestic exchanges, while foreigners and minors would be completely banned from trading through cryptocurrency accounts. […]

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Retail Asia01/02/2018

Shinsegae’s discount chain E-mart plans to enter the US by opening its premium food outlet PK Market. While mostly high-end products will be sold at the South Korean group’s outlet, some of its low-tier private brands such as No Brand and Peacock will also be offered. E-mart is eyeing cities with significant Asian communities, such […]

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Retail Asia31/01/2018

French restaurant brand Lina’s Paris has opened a kiosk in the new terminal at Seoul’s Incheon Airport. Managed by the exclusive franchisee SPC, it is the brand’s 12th outlet in South Korea. Half the sales in the country are beverages, predominantly French coffee and French draft beer. A concept that is midway between a French […]

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Retail Asia31/01/2018

A KitKat flagship store has been launched in Shinsegae’s Gangnam department store in South Korea. It has been opened by Swiss food giant Nestle’s Japanese unit, which has developed special flavours for the chocolate wafer snack in collaboration with chef Yasumasa Takagi, who has just rolled out a special ruby version. As well as the original […]

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Retail Asia31/01/2018

The Shilla Duty Free has pledged “brand new kinds of customer experience that the airport has never seen before” at its new Incheon International Terminal 2 perfumes & cosmetics stores. T2 opened on 18 January. The Shilla Duty Free was awarded the terminal’s perfumes & cosmetics contract after an open tender in 2017. The travel […]

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Retail Asia26/01/2018

Opening in Seoul on Saturday, Apple Garosugil will bring Apple’s products, in-store programming and services together in one place for the first time for South Korean customers. In the heart of the Gangnam area, the store features a 7.6m glass facade along a tree-lined street, with interior trees mirroring those outside. “Our stores are gathering places […]

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Retail Asia26/01/2018

Korean eco-cosmetics brand Innisfree has partnered with Snoopy to release a limited-edition collection for the Year Of The Dog. Called Innisfree x Snoopy, the collection includes five-pastel-shade nail polish, creamy tint, cushion and palette cases, with images of a smiling Snoopy front and centre of the packaging. The whole collection is available on Innisfree’s website, […]

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