UK luxury fashion group Mulberry defended its plans to move further upmarket, saying it was crucial to expansion plans in Asia, where local shoppers and outbound tourists are still spending heavily on top-end lines.
Thailand's Central Department Store Co, a unit of Central Retail Corporation (CRC), has officially partnered with Watts Co from Japan by acquiring a 51 percent stake in Thai Watts Co.
Tos Chirativat, CRC's chief executive, said that as the major shareholder in Thai Watts, Central Department Store will co-manage Komonoya, the Japanese chain of 60-baht shops in Thailand, with Watts Co.
National Book Store of the Ramos family continues to expand its business on the back of the Philippines' strong economic growth even as it takes steps to list at the Philippine Stock Exchange through Vulcan Industrial & Mining Corporation.
In an interview after the annual stockholders' meeting of Atlas Mining and Development Corporation, Atlas executive vice president Adrian Ramos said they will be opening 10 to 15 stores nationwide this year. NBS had 165 stores as of the end of 2012.
Despite the gloom in the West and a slowing expansion of China's economy, free-spending Chinese consumers and wealthy Hong Kong locals craving exclusivity have proven a blessing to retailers looking to buck global woes.
From gadgets decked out in jewels to made-to-order men's shoes and ladies leather handbags or Rolls Royce cars with monogrammed seats, Hong Kong continues to benefit from the influx of newly rich mainland Chinese searching for authentic goods and lower sales taxes.
Sumber Alfaria Trijaya, the owner of Alfamart mini markets in Indonesia, continues to increase its ownership in Midi Utama Indonesia, which operates minimarkets such as Alfamidi, Alfa Express and Lawson, as it expects to boost investment return from its retailer unit.
Alfamidi, Alfa Express as well as Lawson have seen increasing sales in recent years, thanks to stronger consumer spending as well as a wider outlet of networks in the country.
High-end retail chains are increasingly looking at existing and new hotels to house their brands in India, according to experts tracking the sector. While some brands have traditionally been located in five-star hotels, retail chains were seen opting for malls in the last few years. However, absence of quality real estate is once again pushing retailers, especially the luxury and niche brands, into the cool comfort of hotels.
The run-up to Chinese New Year, which starts on 10 February and will mark the Year of the Snake is a key shopping period. And this year more than ever, the spending patterns of China's 1.3 billion people are expected to be scrutinised as a measure of how the economy is fairing – not only as it recovers from last year's slowdown, but also as it switches from a reliance on exports to consumption.
Sun Art Retail Group Ltd overtook rivals such as Wal-Mart Stores Inc to become the number one hypermarket operator in China by supporting the local economy and counting on consumer loyalty to Chinese brands, said a major shareholder.
By contrast, foreign competitors in China lack the same political savvy, the cachet that comes with being seen as a Chinese firm as well as knowledge of the local market, Samuel Yin, chairman of Taiwan's Ruentex Group, one of Sun Art's two main owners, told Reuters in his first interview with overseas media on Monday.
Siam Piwat Co will allocate THB600 million (USD19.7 million) for marketing this year, six times last year's budget. Part of the money will be used to reopen its Siam Center in a grand manner, with Thai guests rubbing shoulders with Hollywood stars and pop divas.
Mayuree Chaipromprasith, the executive vice-president for business promotion, said THB100 million (USD3.2 million) will be spent on the grand opening of the new Siam Center on Wednesday and Friday this week and the rest used for other activities throughout the year.
As 2012 comes to an end, pundits and analysts alike are making predictions for 2013. Many things could happen in 2013, but one thing is almost certain: China will be the largest e-commerce market in the world. Already, the country has the largest population of online shoppers. In June 2012, people who shopped online in China reached 210 million, compared 179 million in the US.