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Tag: parkson

Retail Asia21/12/2016
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Real Estate

Sunway Velocity Mall opens doors

3min0
Sunway Velocity Mall has opened in Cheras, with a catchment of 1.72 million residents including the nearby areas of Ampang and Kuala Lumpur. With a neo-futuristic appearance, the sphere-shaped shopping centre, known as the “KL Orb”, is set to be a landmark on the city’s skyline, especially with its LED light display. Its opening is […]
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Retail Asia23/11/2016
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Fashion

Last Hanoi Parkson to close its doors

2min0
The last Hanoi Parkson department store has been closed after eight years of trading. In an announcement to customers released on November 19, the company said the center “will be moved” on December 15. The 11,000 sqm department store located in Viet Tower in the city’s CBD was once expected to become the busiest shopping […]
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Retail Asia19/08/2016
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Fashion

Parkson Retail Asia cuts Q4 loss by 80%

4min
South-east Asian department store operator Parkson Retail Asia narrowed its fourth quarter net loss by 80 per cent, owing to the absence of costs associated with a store closure a year earlier. Parkson, which does not have stores in Singapore, reported a net loss of $12 million for the three months to June 30. Revenue […]
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Retail Asia11/08/2016
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Real Estate

Two more Kuala Lumpur malls opening

5min0
Two Kuala Lumpur malls, collectively offering more than 2 million sqft (185,806 sqm) in net lettable area, will open in Cheras, Klang Valley, by the end of the year. Moreover, the MyTown Shopping Centre (below picture) and Sunway Velocity Mall (above picture) will be just 800m away from each other. Cheras already has the Aeon Maluri shopping centre […]
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Retail Asia11/07/2016
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General

Saigon retail market to be put to the test

4min0
Is there too much retail space in Saigon – downtown Ho Chi Minh City – the commercial hub of Vietnam? With more than 1.1 million sqm of retail space, it looks like the Saigon retail market is oversupplied. The closing of Parkson Paragon in the city’s District 7  last month only amplified such concerns. But […]
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Retail Asia25/05/2016
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Fashion

Parkson Vietnam shutters store

2min0
Parkson Vietnam has closed another of its stores as it continues to struggle to make its business profitable. The Malaysian department store operator has closed the 19,000 sqm District 7 outlet in Ho Chi Minh City, a multi-story department store beneath a commercial tower. The store opened in April 2011 after the company invested US$5 […]
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Retail Asia29/04/2016
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Living

Giant Cambodia launches in Phnom Penh

2min0
Giant Cambodia has opened its first store in the kingdom, in Phnom Penh’s Grand City Mall. It is part of a major expansion into Cambodia by the Malaysian wholly owned subsidiary of pan-Asian retailer Dairy Farm International, which also has a 70 per cent stake in Lucky Private, the owner of Lucky Supermarkets. Dairy Farm International […]
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Retail Asia21/04/2016
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Living

PRG China expanding in confidence

3min0
Despite economic growth cooling, Parkson Retail Group (PRG China) is confident about its shopping mall opening this month in Qingdao. This confidence is underlined by an Asian Development Bank prediction that the Chinese economy will grow 6.5 per cent this year, with retail sales expanding 10.6 per cent in the first two months of this […]
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Retail Asia14/04/2016
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Real Estate

Parkson confident new China mall will do well

5min
Parkson Retail Group Ltd (PRG), a unit of Parkson Holdings Bhd, is confident its new shopping mall in Qingdao, China, which opens later this month, will attract strong retail interest, even as rapid economic growth in China cools down. The Asian Development Bank has predicted the Chinese economy to grow 6.5% this year. Retail sales […]
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Retail Asia22/02/2016
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E-Tailing

Mobile, millennials to drive retail innovation

9min0
Mobile commerce, millennials and faster fulfilment will drive retail innovation this year, according to commercial supply chain specialist Manhattan Associates. It predicts a rapid migration to more personalised shopping, with mCommerce presenting big challenges as well as inspiring innovation. Emerging Asia is still the fastest-growing region of the global economy, says the company, with strong […]
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Retail Asia27/11/2015
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General

Parkson expands into food to stem losses

3min
Hit with a 15 per cent sales slump since the introduction of GST in Malaysia, embattled department store operator Parkson is set to enter new categories – gourmet food, supermarkets, beauty  – and import new fast fashion brands. The company has invested RM100 million (US$22.8 million) into a rebranding and repositioning project. It will also […]
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Retail Asia19/10/2015
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Living

Parkson Retail restructure knocked back

1min
A plan to simplify the complex ownership structure of Parkson Retail Asia operations has been rejected by independent shareholders. The proposal, defeated by a 63.44 per cent vote against at a shareholders meeting on Monday, would have seen the Singapore-listed Parkson Retail Asia parked under Hong Kong listed Parkson Retail Group, which in turn is […]
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Retail Asia20/05/2015
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Fashion

Parkson Retail grows regardless of Vietnam drag

2min
Listed division retailer operator Parkson Retail Asia has reported a 5.5 per cent year-on-year improve in internet revenue for the third quarter. Within the three months to March 31, Parkson posted a revenue of S$7.98 million. The corporate attributed the development to elevated gross sales in its Malaysia department shops the place shoppers have been […]
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Retail Asia19/02/2015
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General

Parkson profits slump

3min
Parkson Retail Asia has reported a 24.6 per cent slump in net profit – largely attributed to new store establishment costs. The Singapore-based department store operator has reported a second quarter trading profit of S$10.23 million. The company’s biggest problem markets appear to be Malaysia and Vietnam where same store sales are showing negative growth. […]
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Retail Asia30/01/2015
Fashion

Parkson in China food foray

2min
Malaysia’s Parkson has entered into a joint venture to develop a food retailing business in China as it transforms its department store portfolio into lifestyle centres. The company’s wholly-owned subsidiary Grand Parkson has teamed with fellow Malaysian company AUM Hospitality (AUMH) which it majority owns, to create Lion Food & Beverage Ventures Limited. Parkson will […]
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