Philippine property development company Ayala Land Inc. and its partners, Store Specialists Inc. and Itochu Corporation of Japan, are investing about PHP300 million (USD7.3m) for the roll out of its first foray into the convenience store business.
In an interview, ALI chief finance officer Jaime Ysmael said they will need about PHP80m for the first year and less than PHP300m over the next five years to open FamilyMart Convenience Stores nationwide.
Thailand's Charoen Pokphand Foods Plc (CPF), having established a strong manufacturing base, is now developing new retail formats to reduce dependence on hypermarkets such as Big C and Tesco Lotus.
CPF on Wednesday officially introduced CP Food World, its first food court, in Siriraj Hospital. The format is the company's third after CP Fresh Marts near housing developments and CP Food Markets in office buildings and petrol stations.
India's BIBA Apparels, promoted by Future Ventures, is planning to take its ethnic brand overseas. New markets in countries such as the UK, South Africa, Dubai, Singapore and even Bangladesh are likely to emerge as future destinations for India's first ethnic wear brand.
China's biggest online retailer 360buy.com started selling directly to overseas buyers on Thursday, the first such move by a major Chinese e-commerce firm, as it struggles with increasing competition at home.
Its move into the global market, where it wants to take on Amazon.com will be closely watched by other Chinese e-commerce companies.
Shopping experience is a retailer’s biggest differentiator, according to a study commissioned by Motorola Solutions. The study, surveyed 250 US-based retail executives, indicated 74pc of the respondents stated developing a more engaging in-store customer experience is going to be business critical in the next five years.
But such shopping experience is extended beyond the store environment. The survey also found half of the surveyed executives indicated integrating their online and in-store experience would be crucial by 2017.
Japan's Fast Retailing Co is not considering changes in the planned expansion of its Uniqlo clothing stores in China despite anti-Japanese protests there, its chairman Tadashi Yanai said on Wednesday.
The firm, Asia's top apparel retailer, is looking to add 80 more Uniqlo stores in China in the business year that started on 1 Sept., he told a briefing on its development and sales strategy for Uniqlo apparel for the upcoming winter season.
Lotte Mart opened its 100th supermarket store in the Chinese city of Nantong, Jiangsu Province recently and planned to open another 17 ones in the second half of this year in China.
Lotte Group from South Korea built a joint venture with Yintai Department Store in 2008 and introduced its general merchandising business into Chinese market. It opened its first solely-funded department store in Tianjin in 2011 and continued such a development mode since then.
By 2015, you may be able to shop at an IKEA store in India. The EUR25-billion Swedish furniture major is expected to set up its first two-three stores in India within three years of getting government approvals, it is learnt.
These stores, to be modelled on the international format, would be spread over 100,000 square feet area or more, a source aware of the developments told Business Standard. An IKEA senior management team is currently in India scouting for real estate across the country.
Chinese internet giant Baidu and companies across the country are tapping a frenzy of nationalist sentiment, launching patriotic promotional campaigns as thousands take to the streets to protest against the Japanese government's purchase last week of some disputed islands from a private owner, islands China claims as its own.
Be it to drive traffic to websites or garner customer loyalty, companies have rushed to wave the Chinese flag to try to cash in on the worst anti-Japan protests in decades surrounding the islands, called the Senkaku by Japan and Diaoyu by China.
Market sentiment across various real estate sectors in Asia-Pacific remained subdue subdued in the second quarter of 2012, according to CBRE. The commercial real estate services firm has been monitoring the price and rental index in retail and industrial & logistics real estate on a quarterly basis. In general, the market sentiment in Asia-Pacific was mixed as investors remained mindful of the Eurozone debt crisis.