Trikomsel Oke, the largest mobile phone retailer in Indonesia, formed a joint venture with a US wireless service provider to provide services to mobile-phone retailers and telecommunication operators.
In a statement to the Indonesia Stock Exchange on Monday, the company said that it is collaborating with Miami-based Brightstar Corporation to set up Brightstar Trikomsel that will be based in Singapore. Brightstar, through its unit Brightstar Logistics, will control 51 percent of the joint venture and Trikomsel 49 percent.
Yosen Group, China's leading wholesale distributor and retailer of 3C merchandise, said on Monday that it opened its first super specialty store in cooperation with China Telecom Zhejiang.
Operated by Yosen, the store is located in Hangzhou Century Lianhua Hypermarket Yunhe Branch, a busy shopping centre, and occupies a sales space of 60 square metres.
Nestle Group (Thailand), the Swiss conglomerate's Bangkok-based arm that also oversees operations in neighbouring countries, plans to double its business size in Indochina within 2016. The move is aimed at capturing a huge market opportunity when Asean becomes a single market in 2016, its top executive said on Thursday.
LVMH Moet Hennessy Louis Vuitton is poised to pursue a takeover as revenue growth, led by sales of its eponymous handbags, slows the most in four years.
The USD87 billion company could go after Burberry Group, UK's biggest luxury-goods producer, as a way to increase revenue while it worked on repositioning the Louis Vuitton brand, Berenberg Bank said. After LVMH bought Italian jewellery maker Bulgari in 2011, it also could pursue Tiffany & Co, the New York-based jeweller with a market capitalisation of USD8.1b, according to Cantor Fitzgerald.
Starbucks Corp. expects to more than double its number of employees in the Asian-Pacific region to 40,000 people over the next five years, a sign that the Seattle chain anticipates that coffee consumption will accelerate even as major economies in the region slow.
Consumers spent USD9.3 billion at coffee shops in the Asian-Pacific region last year, up 66 percent from five years before, according to data provider Euromonitor International. Starbucks holds the top position in the region, with more than a quarter of the market by coffee sales.
US-based retailer Wal-Mart Stores Inc., which has been so secretive about its IT outsourcing services sourcing partners, disclosed for the first time their names on Thursday, Addressing a session at the Nasscom Leadership Summit in Mumbai on Thursday, Walmart CIO Karenann Terrell said the company works with Indian IT vendors such as TCS, Infosys, Wipro, Cognizant and Kochi-based UST Global apart from its global companies like IBM, Accenture and Softech.
Vodafone share of revenue from its Australian subsidiary fell by 16 percent in the last three months of 2012 as it continued to lose thousands of customers.
Accounts released on Thursday by Vodafone's European-based parent showed its Australian business lost 64,000 customers in the three months to 31 December, to 3.11 million.
As Vodafone Plc reports half of results of Vodafone Hutchison Australia (VHA), this translates to VHA losing about 128,000 customers in the quarter, to a total of 6.34 million customers.
Sai Silks (Kalamandir) Limited, a Hyderabad-based retailer of women's, kids and men's wear, intends to expand its retail outlet network by opening four additional showrooms – one each at Hyderabad, Nizamabad, Vijayawada and Chennai – with a total cost of around INR13 crore (INR130 million, USD2.4m).
The eight-year-old company currently operates 16 outlets across Andhra Pradesh, Tamil Nadu and Karnataka covering a retail space of 129,000 square feet, with the per sq. ft average sales being INR25,000 a year.
The Foreign Investment Promotion Board (FIPB) of India is likely to take up four proposals of global brands, including Decathlon and Fossil Inc, worth over INR750 crore for setting up single-brand retail stores in India during its next meeting scheduled on 13 February.
"The FIPB, in its next meeting, is likely to take up proposals of French fashion brand Promod, France-based crockery maker Le Creuset, US-based accessories firm Fossil Inc and French Sports giant Decathlon, to open retail stores, under the single-brand retail policy," sources told PTI.
Estee Lauder Companies Inc, the New York-based cosmetics giant, plans to expand its Thai operation as it did in China and Hong Kong on the back of the growth of the middle class. Jane Lauder, the newly appointed global president and general manager of the Origins brand, said the company was very happy with the performance of Origins in Thailand.
Demand has increased each year since its local debut 12 years ago.