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Tag: Retail

Retail Asia13/08/2015
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General

Singapore in recovery mode

3min
Singapore has bounced back from a drop in new business formations, with a nine per cent increase in the second quarter of this year. According to official data, 15,964 new businesses were registered in the three months to June 30, underscoring the confidence in Singapore as an international business centre. Jacqueline Low, COO of Hawksford […]
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Retail Asia13/08/2015
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E-Tailing

Amway China in online push

2min
US direct selling retailer Amway is planning a major push in China where it sees potential with younger consumers. Globally, Amway sold US$10.8 billion worth of household goods last year, down eight per cent on 2013. In China it has spent a year testing online sales models, creating 10 WeChat accounts and 12 apps through […]
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Retail Asia13/08/2015
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E-Tailing

Amazon India launches Beauty Store

1min
Amazon India has launched a luxury Beauty Store on its eCommerce portal. “We are excited to offer a wide selection of handpicked luxury beauty products. Customers can now order their favorite luxury beauty brands from the comfort of their homes with Amazon.in,” said Samir Kumar, director of category management with Amazon India. The store will […]
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Retail Asia13/08/2015
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Fashion

Prada Japan flourishes

4min
Prada Japan has posted a strong sales lift in the first half thanks to a burgeoning number of inbound tourists. Sales in the Japanese market grew by 12 per cent year on year current exchange rates and by five per cent on constant exchange rates. Tellingly, growth was stronger in the second quarter than in […]
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Retail Asia13/08/2015
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Living

German giant buys Classic Fine Foods

3min
German retailer Metro AG has paid $290 million to buy Singapore restaurant supplier Classic Fine Foods Group from private equity owned EQT. CFF operates in 25 cities, including Singapore, Dubai, Hong Kong, Bangkok, Kuala Lumpur, London, Ho Chi Minh City and Jakarta. The deal will expand Metro Cash & Carry’s presence from 26 countries to […]
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Retail Asia13/08/2015
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E-Tailing

Ffan: Wanda’s online store goes live

5min
Nearly a year after three giant Chinese companies teamed up to take on Alibaba, the newly-mintedeCommerce store finally and quietly launched this week. The site, Ffan, is the result of a billion-dollar joint venture between Tencent, Baidu, and Wanda Group, a conglomerate best known for its chain of movie theatres and malls. The joint venture started […]
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Retail Asia12/08/2015
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Real Estate

Hysan thrives in subdued market

8min
Hysan Development Co chairman Irene Yun Lien Lee says retail locations with proven shoppers’ traffic that have a bustling and unique surrounding atmosphere have become more sought after as retailers compete in an increasingly challenging market. That’s the core of the reason Hysan has thrived in the first half year while street-front shops have struggled […]
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Retail Asia12/08/2015
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General

E-Mart calls time on closures

2min
South Korea’s largest discount supermarket operator E-mart says it is recommitting to the China market and will stop closing stores there. E-Mart once operated 27 discount grocery stores in the mainland, but for the last five years has been constantly returning its model and shutting down underperforming outlets. However this week, an E-mart executive signalled […]
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Retail Asia12/08/2015
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Living

Shinsegae opens luxury bike shop

1min
Shinsegae Department Store has opened a bicycle shop at its main store in Chungmuro, being the first department store in Korea that is home to a bicycle shop. The shop features classic models from Pedersen Bicycles, often called ‘the Bentley of Bicycles,’ multi-purposed ‘Cargo and Cruiser’ bikes from Johnny Loco, and stylish E-bikes from Mando Footloose. […]
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Retail Asia12/08/2015
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Living

Mers outbreak dents Korea retail sales

2min
South Korea retail sales slipped in June – a predictable result of the outbreak of Middle East Respiratory Syndrome (Mers). As South Korea’s shunned larger retail outlets to reduce the risk of potential exposure to the illness, discretionary spending fell. Some spending on essential goods moved online. South Korea’s government agency Statistics Korea says retail […]
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Retail Asia12/08/2015
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Living

Malaysian GST hammers retail sales

4min
Grocery retailers in Malaysia have reported a slump in retail sales of up to 20 per cent in the second quarter of this year – the three months after the introduction of Malaysian GST. Malaysian GST of a modest six per cent was imposed on April 1. Prior to that there was evidence of consumers […]
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Retail Asia12/08/2015
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General

Daiso wins Manila court battle

2min
Japanese discount retailer Daiso has won the right to use its name in the Philippines after a hearing in the Supreme Court. In a final ruling just issued, the court has blocked Filipino company Japan Home Center from using the trademark Daiso, confirming an earlier ruling by the Court of Appeals. The judges ruled that […]
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Retail Asia11/08/2015
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General

Affluent Asians spending on status

3min
Goods and experiences which provide “a sense of status, exclusivity and uniqueness” are key considerations when shopping for luxury items for Asia Pacific’s elite, according to the Visa Affluent Study 2015. In other words, affluent Asians are prepared to spend on status. According to the study, a significant percentage of Asia Pacific affluents describe themselves […]
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Retail Asia11/08/2015
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Living

Matahari has strong half

1min
Indonesia’s PT Matahari Putra Prima (MPPA) says its first half year sales rose 6.6 per cent on the back of new stores. Like for like sales rose 2.1 per cent in a period of softening economic conditions and when several stores were closed for renovation. Matahari has continued with a strong focus on upgrading its […]
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Retail Asia11/08/2015
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Real Estate

CapitaLand posts healthy quarter

3min
CapitaLand Limited has today announced a second half after tax group profit of S$464 million – 5.8 per cent up on the same period last year. The property giant, which derives 80 per cent of its revenue from Singapore and China, has a portfolio including shopping malls, serviced apartments, office blocks and hotels trading under a […]
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Retail Asia11/08/2015
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Real Estate

Waterway Point Mall Singapore 90% leased

1min
The new Waterway Point Mall in Singapore is already 90 per cent leased, a whole six months ahead of its scheduled opening date. Developer Frasers Centrepoint Malls says the new centre in Punggol won’t be open for business for about six months, but the vast majority of space is now leased. Waterway Point is part […]
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Retail Asia11/08/2015
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Fashion

Burberry Beauty Box enters China

2min
British luxury apparel brand Burberry has opened two more Beauty Box stores in greater China. It follows the opening of Beauty Box’s first Asian store in Korea last December in Seoul’s Coex Mall. Burberry Beauty Box concepts are now trading in Hong Kong and Shanghai. In Hong Kong, the store has opened in Times Square […]
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Retail Asia11/08/2015
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General

Tag Heuer Hong Kong to close store

2min
Tag Heuer is to close one of its Hong Kong stores as it battles high rents and falling sales. Tag Heuer Hong Kong’s Causeway Bay store on Russell St will close soon, according to Jean-Claude Biver, the head of Tag Heuer’s parent LVMH’s watch unit. While local watch and jewellery retail chains have been adjusting […]
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Retail Asia11/08/2015
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Real Estate

Chow Tai Fook wins 40 per cent rent cut

1min
Jeweller Chow Tai Fook has reportedly re-signed a retail shop rental lease at a 40 per cent reduction. It’s a rent reduction which will energise the retail sector, but not doubt send shivers through Hong Kong’s property community. Several listed luxury retailers have in recent months been openly discussing expectations of reduced rents when re-negotiating […]
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