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Tag: retail news

Retail Asia28/09/2023
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General

South Korea sees retail sales grow in August

2min0
South Korea’s retail sales grew 3.3 percent year over year in August on the back of higher sales in convenience stores super super market (SSM) operators, and online cosmetics and food retailers. The Ministry of Trade, Industry, and Energy (MOTIE) surveyed 13 brick-and-mortar retailers and 12 online retailers and saw a 7.6 percent increase in […]
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Retail Asia17/08/2023
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General

Central Retail posts growth in revenue, profit

1min0
Its net profit stood at THB2.31b during the quarter. Central Retail Corporation (CRC) reported its net profit grew by more than 75% year-on-year to THB2.31b in the first quarter. Over the same period, the company’s total revenue went up by 12% to THB63.2b. “The company achieved a 30% sales growth in the fashion category, 9% […]
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Retail Asia07/08/2023
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General

Singapore records minor retail sales growth in June

2min0
Singapore retail sales (excluding motor vehicles) grew by 2.5 per cent to SG$3.4 billion (US$2.5 billion) in June, following May’s 1.7 per cent increase. The country’s seasonally adjusted retail sales were up 0.2 per cent month over month, data from the Department of Statistics Singapore shows. Online retail sales accounted for 14.3 per cent of […]
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Retail Asia24/04/2023
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General

Vincom Retail profits nearly triple in Q1

1min0
Mall operator Vincom Retail has reported after-tax profits of VND1.02 trillion (US$43.4 million) for the first quarter, a 2.7-fold rise year-on-year, amid a recovery in consumption. It was 23% up quarter-on-quarter, the company’s consolidated financial statements showed. Vincom Retail reported revenues of VND1.94 trillion in the first quarter, an increase of 42%, with its mall […]
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Retail Asia12/04/2023
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General

President calls for sustainable Vietnamese business in Laos

2min0
President Vo Van Thuong has asked the Vietnamese community in Laos to set its sights on long-term sustainable business growth even though weathering current short-term difficulties will be complicated. During Tuesday’s meeting with the Vietnamese community in Laos, Thuong praised the patriotism and contributions made by Vietnamese people and enterprises in Laos. For their part, […]
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Retail Asia02/03/2023
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General

Singapore leads foreign investment in Vietnam

2min0
Singapore remained the biggest foreign investor in Vietnam in the first two months of 2023, with investment of $978.4 million, down 42.7% year-on-year, the Ministry of Planning and Investment reported. Taiwan ranked second with nearly $407.1 million, 3.85 times higher than that in the same period last year. The Netherlands came third with nearly $369 […]
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Retail Asia01/02/2023
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E-Tailing

JD Sports to quit South Korean after five years

2min0
UK activewear label JD Sports is set to withdraw from South Korea after five years of operation, according to Edaily. The retailer was reported to have experienced a deepening deficit since the Covid-19 pandemic, which led to the decision. The source said JD Sports Korea had notified all employees of the exit plan. JD Sports […]
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Retail Asia30/01/2023
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Automotive

Hyundai distributor reports revenue of $5B

2min0
Thanh Cong, distributor of South Korea’s Hyundai automobiles in Vietnam, recorded a revenue of VND118 trillion ($5 billion) last year, an increase of 15.6% over 2021. The Thanh Cong Group sold more than 81,500 Hyundai automobiles of all kinds during the year, accounting for some 16% of the country’s total automobile sales in 2022. Late […]
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Retail Asia06/01/2023
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Fashion

Dr Martens shuts all stores in the Philippines

2min0
German-founded British footwear and apparel brand, Dr Martens, has closed all of its physical stores in the Philippines. The brand announced on social media that it closed all of its remaining four stores in Glorietta 4, SM Mall of Asia, SM Megamall, and Manila Bay by the end of last month. However, Dr Martens did […]
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Retail Asia28/12/2022
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Living

Hanoi’s first metro line gets $38M capital hike

2min0
The Cat Linh – Ha Dong Metro Line in Hanoi has received an additional VND911 billion ($38.6 million) capital increase. The money will come from state coffers, with 24.4% of it from domestic funds and the rest foreign funds, according to a decision signed by Deputy Prime Minister Le Minh Khai. The Ministry of Planning […]
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Retail Asia16/08/2022
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E-Tailing

Amazon to invest in Japanese beauty retailer Istyle

2min0
Amazon.com will invest in istyle, the company behind the @cosme review and retail site, gaining access to the Japanese beauty product vendor’s trove of user reviews. Under the agreement announced Monday, istyle will issue 2.5 billion yen ($18.7 million) in convertible bonds as well as 11.5 billion yen in warrants to Amazon on Sept. 6. […]
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Retail Asia02/08/2022
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Food

Grocery chain Bach Hoa Xanh revenues drop on store closures

2min0
Grocery chain Bach Hoa Xanh suffered an 8 percent fall in sales year-on-year in the second quarter to VND6.76 trillion (US$289.47 million) following its closure of hundreds of outlets. The subsidiary of electronics retailer Mobile World closed 251 unprofitable outlets in May and June as it restructured and also changed the layout of the remaining […]
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Retail Asia15/07/2022
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Research

Understanding Modern Retail Through the Gen Z Filter

8min0
Over the past decade retailers faced the challenge of managing their own digital transformation, while simultaneously scrambling to serve the needs of a younger and increasingly online-savvy audience – generally accepted as being digitally native. Today, brands are additionally tested to plan and accommodate for the increasing buying power of the emerging 11-24 age group […]
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Retail Asia24/06/2022
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Startups

Financial startup Anfin raises $4.8 mln

2min0
Financial startup Anfin, which seeks to make stock investment easy for any user, has raised funding of $4.8 million in a Pre-Series A round from a consortium of investors. It was led by angel investor Clement Benoit and U.S.-based startup accelerator Y Combinator. The money will be used to improve its app by building a […]
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