Asia Archives - Inside Retail Asia
Criteo notes eCommerce spike
In the lead-up to the Chinese New Year, eCommerce sales in Asia grew by 40 per cent, according to performance marketing technology company Criteo.
Smartphones outpace tablets in Asian eCommerce
Payments technology player Adyen notes further change in Asian eCommerce shopping patterns.
Fashion range fights Taylor Swift fakes
To counter fake Taylor Swift branded products being sold in Asia, the singer launched a new fashion range at Hong Kong Fashion Week.
9 keys to reaching Asian consumers
With the middle class predicted to double to 1.32 billion by 2020, Asian consumers – and their expectations – are changing rapidly.
King Power to broaden Asian reach
Thai duty free monopoly King Power wants to expand into other Asian markets. And it is settling an affiliation with AirAsia. “We’re looking for more opportunities overseas, particularly in Asean where travel demand will rise after the formation of the Asean Economic Community by the end of 2015,” said chairman and CEO Vichai Srivaddhanaprabha, quoted in the Bangkok Post newspaper. King Power enjoys a monopoly in Thailand’s airports despite bids by established local retailers to compete or s…
Watches and jewellery lack lustre in Asia
Western watch and jewellery brands are suffering from a sales slump in Asia. Swiss company Richemont, whose brands include Jaeger-LeCoultre and IWC, said Asia sales have dropped two per cent in the five months to August. Global sales of Hermes watches also dropped seven per cent year-on-year during the first half, due to weakened demand in China. Watch and jewellery sales have heavily decreased in Hong Kong due to political protests resulting in reduced tourist flow from mainland China.…
Asia focus for H&M
Asia is taking on increasing importance for Swedish retailer H&M, which this week reported an eight per cent profit rise. Sales have got off to a good start with an increase of 12 per cent in local currencies in the first quarter in a fashion retail market that in many places is still characterised by a challenging macroeconomic situation, said CEO Karl-Johan Persson. The company is gearing up to launch its online shop in China at the end of the year. This year will also see the com…
Ogio expands in Asia
Sporting goods maker Ogio is further expanding in Asia. Following the highly successful debut of its first two store locations in Beijing and Shanghai, Ogio now plans to open two more in Indonesia and South Korea. The South Korea store will open in Seoul on April 11. The two-storey location will be the brand’s biggest store to date in the country. “The Seoul location is a testament to the explosive growth we foresee for the Ogio brand in Korea,” said Jae Hong June, CEO, MFS Korea, O…
Asia business sentiment regains ground
Business sentiment among Asia’s top companies edged up in the first quarter. According to intellectual property company Thomson Reuters, solid improvement in the Philippines and South Korea outweighed weakness in China, India and Australia amid persistent concerns over the global economy. The Asia business sentiment index broke two consecutive quarterly declines and rose to 64 in the first quarter of this year from 62 in the fourth quarter of 2013. A reading above 50 indicates an overall p…
Muji enters Australia
Japanese lifestyle brand, Muji, will open the doors to its first Australian store at Chadstone Shopping Centre today. Dubbed “Japan’s answer to Ikea”, the debut store will be open to the public from 12pm. “Our first Australian store is finally here in Chadstone! The grand opening is 12:00 noon today! The opening ceremony is held in front of the store from 8:15am-9:00am also and everyone is invited,” Muji Australia posted on its Facebook page. The Australian flagship will be jo…
Samsonite plans Asian acquisitions
US luggage maker Samsonite is allocating $1 billion to buy Asian brands. The plan comes after its net profit grew 17 per cent during the first six months on the back of sales rise. Asia accounted for 37.6 per cent of Samsonite’s global sales, of which 9.5 per cent were from China. The company foresees the Chinese market to overtake the US market in three years, it says. Having said that, the company thinks it is the right time to look at local brands. “We have a strong balance she…
