KL can also be major fashion city

Business Times

Kuala Lumpur has talented designers to wow world audience and put it among the top fashion cities. The extra "silk" Kuala Lumpur needs to rank alongside Milan and Paris, among others, is more support from government agencies as well as fashion authorities and associations.

Local designers said with more exposure and the right mindset, the fashion industry could be one of the major contributors to the country's economy.

India's Bata 2Q net up 47pc; to open 70 new stores a year

The Hindu Business Line

Indian footwear major Bata India Ltd reported a 46.8 percent increase in its net profit at INR30.42 crore (INR304.2 million, USD6.2m) for the second quarter this year, on the back of higher sales and profitability.

The company opened 106 new large format stores, nine exclusive Hush Puppies outlets and five shop-in-shops in departmental stores during the year.

The country's largest footwear retailer plans to open 70 new stores a year and renovate the old ones, according to a company release.

More than 60pc of global consumers downbeat


Global consumer confidence remained weak in the third quarter with more than 60 percent of consumers saying it was not a good time to spend, and one-in-three North Americans saying they have no spare cash, a survey showed on Sunday.

The economic outlook, followed by job security, became consumers' biggest concern in the third quarter, overtaking worries about rising inflation, according to the quarterly survey by global analytics and information company Nielsen.

Social trends mixed in Asia


Over 80 percent of major brand owners in Asia-Pacific are now utilising social media, but many have failed to make the most of these channels to engage consumers, a study has revealed.

Burson-Marsteller, the consultancy, assessed how effectively 120 of the region's leading firms, as listed in the Wall Street Journal's Asia 200 index of the area's top companies, were performing in this field.

China electric car industry may not see strong growth as expected in 2012


China's electric car industry, which was originally expected to see strong growth in 2012, may not be able to achieve its goal as the related standards and regulations are still not yet unified nationwide. Unifying standards will become the major task the China government needs to work on for the industry, according to sources from related vendors.

The sources pointed out that electric cars will have difficulties to gain share from the private car market without the full support of government units to establish recharging stations.

Retailers raise visibility at MIPIM Asia

Major international brands and retailers including Subway, Apple, Prêt-à-Manger and Metro Cash and Carry, will head to Hong Kong next month to take part in MIPIM Asia, the leading international property market for the Asia-Pacific region.

The brands and retailers will use the complete range of MIPIM Asia marketing and business opportunities to develop their profile and meet with potential partners operating in the dynamic Asia-Pacific market.

Australia consumer sentiment edges up in Oct


A closely watched measure of Australian consumer confidence edged up further in October, with optimism about the economic outlook balanced somewhat by caution on making major purchases, a survey showed last week.

The survey of 1,200 people by Westpac Bank and the Melbourne Institute showed its index of consumer sentiment rose 0.4 percent to 97.2, building on a hefty 8.1 percent jump the month before. The index was still down 16.9 percent on October last year.

Survey: Mainland China's middle class offers great potential for HK

Surging middle-class demand for consumer services on the Chinese mainland offers major opportunities for Hong Kong companies, according to a Hong Kong Trade Development Council (HKTDC) survey of 1,600 residents in eight mainland cities.

More than 80 percent of the respondents indicated that they were more willing to spend than they were three years ago, while almost 80 percent pay attention to trends and one-third admit that they observe the lifestyle and consumption of others to make sure that their interests correspond.

Gucci, Tiffany target Chinese banks


Two Western luxury-goods giants are taking a controversial tack in the fight on Chinese knockoffs, by targeting the US branches of major Chinese banks that allegedly do business with the pirates.

But the copycat-fighting strategy faces resistance from a surprising source: the Federal Reserve Bank of New York, which sees the cases as a threat to the large community of foreign banks operating in US's financial capital.

Haier India to invest USD10.12m in Pune plant expansion


Haier Appliances (India), the Indian subsidiary of Chinese electronic home appliances major Haier Group, will invest close to INR50 crore (INR500 million, USD10.12m) in expanding its refrigerator and washing machine manufacturing capacity at its Ranjangaon plant in Pune.

Syndicate content