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Tag: Retail

Retail Asia16/03/2023
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General

Retail sales up 3.5% in first two months, thanks to government’s pro-growth measures

5min0
China is gradually shrugging off the negative impact of the pandemic, as official data showed that retail sales in the first two months of 2023 expanded, following China’s optimization of its COVID-19 response. Chinese experts predicted that retail sales will continue to increase, given concrete government measures to boost consumption. Retail sales totaled 7.71 trillion […]
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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 Asia02/01/2023
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General

Exports to China no longer subject to Covid testing

3min0
Vietnamese exports to China will no longer be subject to Covid testing from January 8th, the Ministry of Industry and Trade has announced. The ministry urged localities and businesses to update goods clearance processes at border gates in order to streamline trade according to the new easing of restrictions. The government has asked major agricultural […]
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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 Asia12/12/2022
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General

Vietnamese unscathed by U.S. tech meltdown

20min0
The recent layoffs by tech firms in the U.S.’s Silicon Valley have not significantly affected Vietnamese there, and things will return to normal soon, Le Chan, chief engineer at AI startup TruEra, tells VnExpress. Layoffs.fyi, the layoff statistics site, shows that more than 100,000 technology employees have been laid off in Silicon Valley this year, […]
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Retail Asia05/12/2022
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E-Tailing

E-commerce giant Carousell lays off 110 staff

3min0
Carousell, a Singaporean consumer-to-consumer (C2C) service platform operating across Southeast Asia, is letting go of about 110 employees, or 10% of its total headcount, to reduce costs amid a challenging market condition for the tech industry.  The announcement came from the company’s blog on Thursday, posted by co-founder and CEO of Carousell Siu Rui Quek, saying, “I […]
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Retail Asia01/12/2022
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General

Trade surplus at $10.6B for 2022

1min0
The trade surplus was US$0.78 billion in November, which took the year’s figure to $10.6 billion, the General Statistics Office said Tuesday. The surplus in the same period last year was $0.6 billion. But exports fell in November by 8.4% to $29.18 billion, which took the full-year figure to $342.21 billion. The U.S. has been […]
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Retail Asia17/10/2022
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General

Ikano Retail posts record revenue growth

2min0
Ikano Retail has recorded its highest turnover yet for the financial year to August 31, reaching US$1 billion across the five markets in which it operates Ikea stores – Malaysia, Singapore, Thailand, the Philippines and Mexico, equivalent to 41.2 per cent year-on-year growth. The increased sales were driven by the return of visitors to physical […]
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Retail Asia03/10/2022
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General

Hong Kong retail sales growth stalls

2min0
Hong Kong retail sales growth stalled in August, down 0.1 percent yearly, following a revised estimated increase of 4.1 percent in July. According to the Census and Statistics Department, August’s figures were impacted by a high base compared to a year ago, but for the first eight months of the calendar year, sales are down […]
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Retail Asia03/10/2022
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General

Vietnam national brand value gains 11%

2min0
Vietnam saw its national brand value increase by 11% this year to $431 billion thanks to its foreign direct investment policies. Its increase of $184 billion year-on-year was the third highest of any country, U.K. consultancy Brand Finance said in a recent release. The country went up one place to 32nd, just behind Thailand and […]
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Retail Asia26/09/2022
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General

Vietnam, Cambodia trade climbs to record level

1min0
Trade between Vietnam and Cambodia reached a record US$7.7 billion in the first eight months of the year. Vietnam’s exports rose by 32% year-on-year to $4.1 billion, as the country turned last year’s deficit into a surplus, according to its customs department. The most significant item was iron and steel, accounting for 17% of the […]
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Retail Asia06/09/2022
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General

Singapore retail sales continue to recover

2min0
Singapore retail sales continued their rebound in July, rising 18.1 per cent year on year, excluding motor vehicles. That followed a 19.9 per cent increase in June, both months reflecting the low base of a year earlier when Covid restrictions on border crossings and retail trading impacted shopping. The fastest-growing category was apparel and footwear […]
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