Dunhill opens two new stores in South Korea

The new stores are situated within Lotte department stores in the Seoul district of Jamsil and Southern city of Busan, continuing the brand’s expansion strategy in Asia and paving the way for a third store opening in spring next year.

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Singapore retail sales continue to recover

Singapore retail sales continued their rebound – and is ready for growing your lifestyle brand again!
The fastest-growing category was apparel and footwear which surged 68% and sales of watches and jewellery increased by between 42%& and 53%.

Interested in finding a strong local distributor, franchise partner or license partner? – then reach out us at info@AsiaCorp.eu

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Chloé opens flagship store in Seoul

Chloé unveiled a new 386-square-meter, two-story boutique in the lively luxury shopping district of Cheongdam in Seoul. The eye-catching façade, consists of beige marble stones and the maison’s logo in brass is luminous by day and lit-up at night. Bright glass vitrines covering the two floors entice passers-by into the light-filled space, as warm and welcoming as a home.

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Millionaires are showing off their money in a new way

The definition of luxury is evolving, and the change applies to not only what people are spending money on, but how they’re doing it.

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LVMH achieves record result, with profit up 21 per cent

The world’s largest luxury retailer LVMH shrugged off broader market pessimism overnight reporting record revenue of €46.8 billion last year, up 10 per cent over 2017. Excluding the closure of the unprofitable Hong Kong airport duty-free business in December 2017, the group’s organic growth was 12 per cent. Every business division delivered what the company described as “excellent performances”.

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Prada’s sales surge on rapid greater China growth

Asia has once again energised luxury fashion label Prada’s sales in the first half year. The company has reported net revenue up 9.4 per cent in the six months to June 30 (although a lesser 3.3 per cent at current exchange rates). However Prada Asia-Pacific sales surged 13.8 per cent at constant exchange rates, or 6.6 per cent at current rates, most of that growth coming from company-owned stores.

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Why Brands Shouldn’t Treat the Hong Kong and Mainland Markets the Same

Brands often talk about marketing in Greater China. However, considering the strong cultural differences in the different markets that constitute Greater China, which includes China, Hong Kong, Macau, and Taiwan, firms can run into issues of being politically or culturally deaf. These kinds of missteps can lead to long-term damage to a brand and its marketing efforts.

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THE RISE OF LUXURY JEWELRY WITH CHINESE MILLENNIAS

From changing cultural mindsets and innovative designs to forward-thinking digital promotional strategies and price adjustments, the scene has been set for luxury jewelry brands to thrive in the Chinese market – especially with female millennials.

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CHINA’S ‘WANNEBE CONSUMERS’ WILL GROW THE FASTEST BY 2020, SAYS BAIN REPORT

The start of this year marked a major shift in China’s luxury market. Chinese consumers are now spending more on high-end products domestically and their attitudes are also evolving, fueled by digitization, over-exposure to luxury, a changing economy, and changing demographics. A new report by Bain & Company, done in collaboration with Alibaba-backed luxury e-commerce platform Mei.com highlights the ways in which Chinese luxury consumers are maturing and becoming more opinionated and demanding.

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CHINA’S WEALTHY ARE SPENDING A QUARTER OF THEIR BUDGET ON HEALTH AND ATHLEISURE

As average Chinese families get wealthier, they seek more from their luxury consumption than the mere ability to show off. As the face of luxury and fashion continues to change, luxury brands need to remain attuned to these fluctuations in order to stand apart from their numerous competitors in China. One increasingly apparent dimension to Chinese consumers’ understanding of new luxury is the rise of athleisure.

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INDONESIA LEADING CHARGE, SAYS ASIA LUXURY INDEX

Indonesians have become Asia’s foremost online buyers of luxury goods, according to th latest Asia Luxury Index.Amid difficult economic conditions, online sales of luxury goods in Indonesia have grown by 84 per cent, according to the index, which draws mainly on the sales data of Reebonz, a Singapore-based eCommerce platform for luxury products.

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AUSTRALIAN LUXURY RETAIL GROWING BY 9.8PC

Luxury retailing in Australia is projected to be a $2.4 billion industry by 2019-20, according to a new report by IBISWorld.

IBISWorld’s “Luxury Retailing in Australia” report says the country’s relatively stable economy has given its residents more disposable income, leading to more luxury purchases. Due to Australia’s favorable market for luxury goods, many brands have aggressively expanded their operations in the region.

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SOUTH EAST ASIA: THE NEXT WAVE OF LUXURY?

Southeast Asia represents the next big hotspot for premiumisation in Asia. As the region accelerates through this cycle of spreading consumer prosperity, it is predicted that the number of middle-income consumers will increase from 190 million in 2012 to 410 million in 2020.

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HERE’S WHY SINGAPORE IS A SHINING BEACON IN LUXURY ASIA

Singapore is the key regional hub for Luxury in ASEAN, and a top hub in Asia-Pacific, with a market size in 2013 of €2.5 billion (ca. S$4.3 billion) compared to the ASEAN market size of €5.5 billion, and the Greater China market size of €27.4 billion which includes China, Hong Kong, Taiwan and Macau. – And Singapore incidentally ranks 5th in the 5 largest destination countries by value of tax free shopping value after France, Italy, UK, and Germany.

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CHINESE CONSUMERS BUY NEARLY HALF OF WORLD’S LUXURY PRODUCTS

Chinese consumers spent 1.2 trillion yuan ($183 billion) abroad last year, with the goods they bought ranging from luxuries to daily necessities, according to a luxury-market consultancy. More than 60 percent of the consumers bought luxury products — including handbags, cosmetics and mobile gadgets — spending $116.8 billion on such goods, the Beijing-based Fortune Character Group said.

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CHINESE LUXURY SHOPPERS INCREASINGLY TURNING ONLINE: KPMG

For Chinese, online shops are quickly evolving from simply a means to get a bargain to somewhere movers and shakers can splash out on pricey clothes and accessories. According to a study published by auditor KPMG earlier this week, Chinese buyers of luxury items are increasingly favoring online retailers over brick-and-mortar stores, which will account for half of Chinese luxury spending by 2020.

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ASIA LUXURY RETAIL REVIVAL AHEAD

While Asia Pacific may be experiencing a slowdown in luxury retailing right now, three key trends will fuel a renaissance in coming years.

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Third-party marketplace sales to account for 59% of all global ecommerce by 2027

By 2027, the four largest global marketplace leaders – Alibaba Group, Amazon, Pinduoduo and JD.COM – will account for $4.3trn in global retail sales, almost 66.5% of global ecommerce sales.

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Harvey Nichols flagship reopens at Pacific Place

The Harvey Nichols flagship at Pacific Place has reopened after a three-month refurbishment, adopting a new store model which takes up just half the space of the original store. 

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Malaysian retail sales set new record

Malaysia’s retail sales saw recorded growth in the second quarter of this year, surging 62.5 per cent year on year, according to Retail Group Malaysia (RGM).

Reach out to us at info@AsiaCorp.eu if you are looking to expand your lifestyle brand into the Asian markets.

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Lego opens first Australia flagship store in Sydney

Located at Sydney’s Westfield Bondi Junction shopping mall, the two-story Lego store will serve as the company’s first standalone store in the Australian retail landscape, according to local media reports.

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Nike sees strong growth in Asia

Sportswear retailer Nike has grown net income to US$1.1 billion over its third quarter, with the group’s consumer-direct  approach delivering growth across all four of its geographic regions.

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Top 6 business challenges to consider before entering Asian markets

Between the Asian and Western (US and Europe) markets, the latter was once considered the more lucrative option of the two whereas the former was dubbed as slow-paced and laggard. But this concept has changed dramatically over the past decade.

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Central Retail plans to double online sales

Central Retail Corporation has announced plans to to double its online sales to THB10 billion (US$315.76 million) this year. Central’s CEO Nicolo Galante said the firm intends to lead in the omni-channel e-commerce business, overtaking Shopee.

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Vietnam retail sales soar

Vietnam retail sales grew at 13 per cent last year, with food and beverage, apparel and household appliances leading the way, according to Savills Vietnam. The country’s Ministry of Industry and Trade has estimated total revenue generated from retail sales and consumer services reached US$191 billion last year.

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Yonghui’s sales revenue in 2016 reached 49.2 billion yuan,
up 16.82% yoy.

Yonghui keeps on evolving its businesses – from operating only supermarkets, targeting the mass market, to launching premium supermarkets and rolling out new retail formats with O2O concepts at the core of its transformation.

Yonghui is the fifth largest hypermarket chain operator in China and operates a total of 549 stores cross the mainland China, covering 20 provinces as of June 2017.

Contact us to get the full company analysis here 

China’s retail sales grew by over 10% to US$4 trillion in Q1-Q3 2017

In the first three quarters, the total retail sales of consumer goods reached 26,317.8 billion yuan (US$3,974.24 billion) in China, a year-on-year rise of 10.4 percent, growing at the same speed as that of the same period last year. Specifically, the sales of sports and recreational articles grew by 17.4 percent, cosmetics up by 12.1 percent and construction and decoration materials rose by 12.6 percent.

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Double-digit growth in daily retail sales in China over National Day ‘Golden Week’

China’s daily retail sales during the country’s “Golden Week” holiday that ended on Sunday rose at a double-digit pace, on a par with growth during the same break last year, data from the commerce ministry showed.

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Korean online shopping growth surge as retail sales stumble

Online shopping is experiencing a growth surge, accounting for close to 20 percent of all retail sales in the first quarter of this year.

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Chinese retail sales rise more than 10 per cent

Total Chinese retail sales last month reached RMB2.961 trillion (US$443.7 billion), a year-on-year rise of 10.4 per cent, reports the National Bureau of Statistics.

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3000 stores to open in India, world’s most promising retail market

The recent implementation of the GST along with the rise of e-commerce has caused over 50 brands to announce that they will launch in India in the next six months.

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CHINA’S STORE OF THE FUTURE HAS NO CHECKOUT, NO CASH AND NO STAFF

High-tech automated convenience stores are infiltrating Beijing and Shanghai. One of them, BingoBox, launched in several neighbourhoods early this month, offering shelves lined with instant noodles, beer and traditional snacks. Inside there is also a microwave, a shared mobile phone charger, a freezer and a soy milk machine. But one thing is noticeably missing — the staff.

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CHINA’S DEPARTMENT STORE SURVEY 2016

– Department store strategies in the” New Retail” regime.

Department store players in China are keen to diversify their businesses and several have already stepped into the e-commerce arena. Using social media to market their products and interact with customers. Some operators have even started to sell their merchandise via social networks.Department store operators have already engaged in multiple retail formats, some have launched their own private labels, while others have engaged in merchandise direct sales.Combined with the O2O initiatives of in-store mobile payment such as Alipay, and WeChat Pay and offering free WiFi. Many department store operators use their online websites to drive traffic to their offline stores.

To learn more about the latest development prospect and strategies of department store operators in China – send an email to info@AsiaCorp.eu and get the full analysis. 

BE FLEXIBLE, BUILD TRUST FOR SUCCESSFUL ASIAN MARKET EXPANSION

  NEW YORK – When entering a new market, the biggest mistake brands can make is failing to alter their marketing strategy for any cultural differences, according to an executive from Export Now.

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VIETNAM’S RETAIL SALES LEAP TO US$118 BILLION

The General Statistics Office has estimated Vietnam’s 2016 retail revenue at US$118 billion, a 10.2% rise over the  previous year.This revenue growth rate was relatively high compared to other markets in the region. Notably, food and foodstuff sales increased by 13%, followed by household appliances with 11.4% and textiles and garments with 10.6%. Sales of educational and cultural products barely grew in 2016, at 1.7% year-on-year.

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PARTNERING WITH CHINA’S RETAILERS: A GUIDE FOR CONSUMER-GOODS COMPANIES

The Chinese consumer sector looks vastly different today compared with just five years ago. The retail environment both offline and online has shifted, consumers have become savvier omnichannel shoppers, and local consumer-packaged-goods (CPG) manufacturers are giving global players a run for their money

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THE RETAIL WINNERS AND LOSERS OF 2016

Some retailers spent the year readying for the industry’s future, while others  grappled  with the ghosts of its past. Here are the companies, technologies and trends that soared or sank in 2016.

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ASIA’S TOP 5 ECONOMIES IN 2030

Remember when Japan was set to become the world’s top economy? The risks of such forecasts have been highlighted by this and other fearless predictions, including more recently that China would continue its double-digit growth rate forever and that India would quickly become the “new China.”

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ASIAN GROCERY BOOM PREDICTED BY IGD

Asia will continue to be the biggest engine of growth in the grocery market with its sales set to exceed those of Europe and North America combined within five years, according to new forecasts from research organisation IGD.

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Lazada launches RedMart on its mobile app

With RedMart has officially completed its move to the Lazada platform on 15 March, and customers can now enjoy a one-stop solution for all their shopping needs

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Singles’ Day trumps Black Friday and Cyber Monday combined

Alibaba, the Chinese e-commerce giant, said on 11 November 2017 its Singles’ Day sales extravaganza hit $25.4 billion, smashing its own record from last year and cementing it as the world’s biggest shopping event.

Once a celebration for China’s lonely hearts, Singles’ Day has become an annual 24-hour buying frenzy that exceeds the combined sales for Black Friday and Cyber Monday in the United States, and acts as a barometer for China’s consumers.

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Korean department store sales lift on strong e-commerce

South Korea department store retail sales recorded an increase in September 2017 on the back of strong online sales, a government report showed.

The Asian nation’s major retailers registered an increase of 8.4 percent in September from a year earlier, according to the Ministry of Trade, Industry and Energy.

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Singapore m-commerce set for 33 per cent growth

Singapore m-commerce is set for 33 per cent growth in the next five years, according to a new report. Despite its modest population numbers, the city/state is the region’s third-largest e-commerce market with 73 per cent of internet users already shopping online. But this growth is set to slow with a modest 9 per cent expansion to reach US$6.5 billion by 2021 predicts Worldpay, which analysed e-commerce spending patterns across 36 markets on five continents.

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Alibaba Unveils Exclusive Luxury Pavilion Courting Super-Wealthy Chinese Shoppers

Chinese e-commerce giant Alibaba Group today launched the Luxury Pavilion, a brand new section within its business-to-consumer site Tmall for premium and luxury brands. The initiative is part of a broader bid, according to Alibaba’s news site Alizia, to push forward its New Retail initiative in the luxury arena to reach out to the country’s super wealthy online shoppers.

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CHINA WILL REPRESENT ABOUT 60 PERCENT OF ALL GLOBAL
E-COMMERCE TRANSACTIONS BY 2020.

Today, an increasing number of foreign brands in China are beginning to recognise the power of China’s millennials in determining the future of their businesses, and major luxury players, such as Burberry, Cartier, and Gucci, among others, have all recently made bold efforts to attract this demographic. Chinese millennials matter to luxury brands because of their large population and massive purchasing power.

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CHANGING RETAIL TRENDS: WHERE WILL INDIA BE IN 2030?

The rising number of online shoppers, developing infrastructure and affordable technology will prove to be a boon for this industry, says a report by Goldman Sachs. The report also mentions tremendous growth amounting to about 2.5 per cent of the nation’s GDP that would be almost 15 times growth for this buzzing online industry.

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REPORT HIGHLIGHTS CROSS-BORDER E-COMMERCE OPPORTUNITIES

Cross-border e-commerce offers aggregate growth rates not available in most other retail markets, according to a new report.

Retail volumes in cross-border e-commerce are predicted to grow at an annual average rate of 25 per cent between 2015 and 2020 (from US$300 billion to US$900 billion) – twice the pace of domestic e-commerce growth.

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BRANDS THAT CAN ONLY BE PURCHASED ONLINE WILL SEE STRONG GROWTH IN FUTURE

‘Digital-first’ brands, or brands that can only be purchased online, can expect to see strong growth across categories like budget fashion, furniture and groceries with the increasing adoption of e-commerce, a study said.

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E-COMMERCE IN JAPAN: 20% OF RETAIL BY 2022

While the U.S. and China are already known as global e-commerce markets, it’s Japan that boasts the largest e-commerce potential, especially over the next three to five years, say two separate consultant groups.

In 2015, Japan generated roughly $80 billion in e-commerce sales. This compares to some $350 billion of e-commerce sales in the U.S. and China’s whopping e-commerce sales result, which exceeded $650 billion in 2015.

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INDONESIA IS ASEAN ECOMMERCE SLEEPING GIANT

Indonesia is the most-promising ASEAN eCommerce market, according to Hong Kong-based consultant Paul McKenzie. He told a seminar in Bangkok, organised by brokerage and investment group CLSA, that Indonesia has the greatest potential because of its developing infrastructure and private equity advantage. Thailand is a little behind, he said, with the eCommerce landscape growing but not to the same scale as Indonesia.

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UNDERSTANDING CHINA’S E-COMMERCE AND INTERNET SECTORS: A GUIDE FOR GLOBAL RETAILERS

China’s e-commerce sector continues to gain the world’s attention with its explosive growth and transformative effect on the commercial landscape. E-commerce is now a major driver of growth in China’s “new normal” economy. The announcement of the “Internet Plus” initiatives by the government 19 months ago has made e-commerce development a national priority.

For the full and very comprehensive report, contact us at  info@AsiaCorp.eu

GLOBAL COMPANIES TESTING INDIAN E-COMMERCE MARKET

Global companies are increasingly entering the Indian market through the e-commerce route, a move that helps them save on capital and understand their scope for growth in the country’s retail environment. 

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THE EVOLUTION OF E-COMMERCE BUSINESS MODELS IN SOUTHEAST ASIA

Being the new kid on the block means that e-commerce ventures in Southeast Asia have the luxury to learn from others’ mistakes, from mature e-commerce markets such as the US and China.

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WORLDWIDE E-COMMERCE MARKETS

China is the biggest eCommerce market in the world with $562.66B in sales projected for 2015. Factors like population contribute to their top slot. Case in point, China has more than 600 million internet users. And this is important if you are an eCommerce shop owner. Shopping is the fastest growing online activity in China. Exciting news when considering different types of marketing campaigns targeted at your Chinese customers.

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How China is fueling the growth of beauty brands and boosting luxury players

China has quickly gained on the United States in beauty sales, and is set to overtake it by 2023.

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L’Occitane profit soars after restructure

Hong Kong-listed beauty-products retailer L’Occitane is reaping the benefits of a restructure with profit up 21.8 percent last financial year to €117.6 million.

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L’Oréal Paris chooses Thailand for its biggest flagship store worldwide

L’Oréal Paris revamps its store at the Bangkok King Power Downtown II Srivaree, making it its first flagship store in Travel Retail Worldwide.

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L’Oréal Generates 120M Social Media Interactions with Haitang Bay Pop-up Launch

L’Oréal Paris has generated over 120 million interactions on Chinese social media since launching a striking pop-up at China Duty-Free Group’s (CDFG) Haitang Bay Sanya International Duty-Free Shopping Complex.

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Grand Mixc in Hengqin adds luxury beauty element

Global trader Hengqin Grand Mixc signed a 20,000-sq-m Beauty Park contract with Asia Beauty Group Holding Co Ltd on Sept 27 to provide one-stop fashion-leading cosmetic services to female consumers.

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Asia contributed 56% of the world’s premium skin care value

As of 2016, Asia contributed 56% of the world’s premium skin care value sales, reaching US$23 billion. Despite the bleak economy and discouraged consumer confidence in top sales markets Japan and South Korea, the overall region witnessed a healthy growth of 6% year-on-year, thanks to the rising income in developing markets and increasing female spending power derived from women’s extended career life.

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HE DRIVING FORCE BEHIND CHINA’S BEAUTY BOOM

Demand for beauty products, particularly facial cosmetics, is booming in China. What is driving this boom?

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