Indonesia is becoming a preferential place for glossy Asian fashion and lifestyle brands seeking to showcase their merchandise.
Within a month, two large Japanese retailers, Fast Retailing Co. Ltd., the brand owner of UNIQLO, and AEON MALL Co. Ltd., have established their presence by setting up flagship stores there.
Two other big department stores from Indonesia's immediate neighbours, Parkson Retail Asia, headquartered in Malaysia, and Thailand-based Central Retail Corporation (CRC), are already looking to open their first stores there next year.
Supermarket chain Puregold Price Club Inc. has beefed up anew its portfolio as it acquires Mega Manila-based chains Eunilaine and Grocer E.
The 15 newly-acquired supermarket branches in strategic areas will be rebranded into Puregold groceries, a company official said.
In a disclosure to the stock exchange, Puregold said it acquired 100 percent of the four operating Eunilaine foodmarts and 11 operating Grocer E supermarts from Company E Corp. The purchase cost was not disclosed.
Italian outerwear brand Peuterey Group SpA owns stores in Milan, Rome, Cortina, Berlin, and Antwerp. Their next stop is Shanghai. A store for men's and women's collections and a second exclusively for children's will open at Takashimaya in Shanghai this week. As part of this venture, Peuterey has also opened an office in Beijing with a subsidiary in Shanghai to manage business in Asia.
Mumbai-based Maxwell Industries Ltd., that manufactures men's and women's inner wear and lingerie, is set to foray in Gujarat with its exclusive retail store "Inners" soon. The company, known for its flagship brand "VIP", will set up its exclusive inner wear store in Ahmedabad within next 3-4 months.
UNIQLO opened its third global flagship store in Japan, UNIQLO OSAKA, in the commercial center of Umeda recently.
Osaka is a popular sightseeing area for people from the Kansai area and throughout Japan. The number of overseas visitors has even exceeded domestic tourism as a result of expanded low-cost flights to Kansai International Airport, making the city a key Asian destination for people from across the region.
Alibaba, the Chinese e-commerce behemoth that listed in New York last month, briefly muscled ahead of Walmart by one important measure on Tuesday, when its market valuation surpassed that of the world's largest retailer by revenues.
Shares of Jack Ma's Hangzhou-based group climbed as much as 2.8 percent to touch a new record high of USD100.50, lifting its market capitalisation above USD247 billion.
Ron Johnson, who helped build Apple Inc.’s successful retail stores before a troubled stint as chief executive of J.C. Penney Co., is getting back in the game with a well-funded startup that aims to bring some of the Apple Store mystique to online shopping.The new company is called Enjoy, and Mr. Johnson says its goal is to change the way people buy and use the “things that matter” in a world in which consumers start their shopping online.
Majority of companies plan to increase their budget for festive spending and corporate gifting both for clients and employees by about 10-15 percent this Diwali, according to a just concluded survey conducted by The Associated Chambers of Commerce and Industry of India.
The survey found that most firms have plans to substitute traditional gift options with Diwali exclusive pre-paid cards, which seems to be emerging as the most preferred gifting solution for corporate sector.
Fast Retailing Co. Ltd. has set up a joint logistics hub with Daiwa House Industry Co. Ltd. in Tokyo, Japan to meet the full range of logistics needs of customers and to introduce a new level of logistics services.
Malaysia's CIMB Private Equity has bought a 10 percent stake worth USD25 million in Modern Internasional which manages 7-Eleven franchises in Indonesia.
CIMB will acquire 415.8 million shares in Modern Internasional, which plans to use proceeds from the sale to expand its presence in Jakarta.
Modern Internasional, through its subsidiary Modern Sevel Indonesia, owns 175 7-Eleven stores in Jakarta, but plans to operate up to 200 by the end of 2014.