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Thailand's Mc Jeans plans IPO to fund Asia expansion
Thailand's Mc Group Plc, the maker of Mc jeans, expects to mobilise THB2-3 billion from its listing on the Stock Exchange of Thailand (SET) by the end of next month to fund its expansion.
Chief executive Sunee Seripanu said the proceeds will be used to expand the number of outlets nationwide to 700 from 530, launch new apparel brands, open a design centre and diversify its distribution centre on Rom Klao Road.
Giordano 1Q13 closes 163 stores in China, eyes SE Asia
Hong Kong casual wear chain Giordano International closed 163 stores in mainland China in the first quarter of 2013 but the clothing retailer said it will open shops in markets with strong growth potential, such as in South East Asia and Saudi Arabia and new markets like Japan, South Africa and South America.
Giordano said on Tuesday sales for the quarter ended on 31 March 2013 increased by 6 percent to HKD1.51 billion (USD194.5 million) from HKD1.43b in the same period last year. Brand sales and comparable store sales declined 2 percent.
Asia invests in European fashion brands
An appreciation of heritage, an eye for a bargain, or perhaps a bit of both – whatever the mix of factors, Asian investors have been acquiring prestigious, if sluggish, European brands for more than a decade, often bringing fresh verve to the businesses.
Hypermart opens 82nd store in Indonesia, to add 80 new outlets in next 5 years
Hypermart on Wednesday opened the first of the 20 new outlets planned for this year, bringing its current number of stores to 82, the company said.
The outlet, built on a 5,000-square-metre property, cost IDR50 billion (USD5.14 million) and is the third Hypermart outlet in South Sumatra of Indonesia, according to the company's communications director, Danny Kojongian.
Riding smartphone boom, Indonesian mobile phone retailer to open 50 new outlets by year-end
Mobile phone distributors in Indonesia say the sales of premium smartphones will take the sting out of tighter import regulations that lengthen the time it takes for devices to reach the market.
Evy Soenarjo, president director of PT Global Teleshop (GLOB), said the launch of premium smartphones, including the BlackBerry Z10 and Samsung Galaxy S4, would stimulate the mobile phone market.
Tesco plans expansion in south China
Tesco, the world's third largest retailer, plans to expand its property-owned chain of stores in south China to 15 to 20 within the next five years.
China Daily quoted Tesco Property Limited operation manager Chen Pei as saying the company would continue the policy of purchasing land and build their own properties in China.
Chen said the move aimed to maintain sustainable development in the country amid a fierce retailing industry.
Metro Group 1Q13 losses narrow; to open 12 Cash & Carry stores in China this year
Metro Group, the world's third largest retailer, on Thursday reported a net loss of EUR16 million (USD21m) for the first three months of 2013 against a loss of EUR79m last year. Group sales dropped 0.9 percent to EUR15.5 billion during the period, but rose 0.7 percent when sales were adjusted to reflect its recent sell-offs including Media Markt China.
Sales in Asia/Africa jumped 9.3 percent to EUR1b in the first quarter. Stripping out the effect of exchange rates, Asia/Africa sales grew 11.6 percent.
Philippines' NBS plans to open 10-15 stores in 2013
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.
Indonesia's Trikomsel to add 128 new stores
Indonesian mobile phone distributor PT Trikomsel Oke says it is aiming for a 15 percent revenue and profit increase this year by rolling out new business strategies, including providing consumers with credit to own gadgets.
Based on the firm’s annual report, the company’s net revenue was up 8.3 percent year-on-year to INR 9.5 trillion (USD978.5 million) at the end of 2012, while net income was up 21.1 percent to IDR367 billion and earnings before interest, tax, depreciation and amortization (EBITDA) rose by 20.5 percent to IDR834b.
Gold rush in Indian bazaars and Chinese malls
Shoppers in China lined up for gold last week, while in Hong Kong they rushed to buy bracelets and in India sought jewellery for weddings not set until December. The metal's biggest price drop in three decades provoked the clamour.
From Zaveri Bazaar in Mumbai, India's largest bullion market, to Australia's Perth Mint, consumers headed to shops after the commodity entered into a bear market a week ago. Daily customer traffic in Hong Kong and Macau rose as much as 25 percent during 13-16 April, according to Chow Tai Fook Jewellery Group, the world's largest jewellery chain.
