All Asia articles – Page 17
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News
Samsung Tesco Homeplus in talks to take over Kim’s Club Mart
Samsung Tesco Homeplus, Tesco’s South Korean venture, is in negotiations to take over local retailer Kim’s Club Mart. It has been reported that Samsung Tesco Homeplus has agreed to buy 98% of Kim’s Club Mart for KRW300bn (£165m).
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Best Denki plans 10 Taiwan stores
Japanese electronics retailer Best Denki has revealed plans to open 10 stores in Taiwan by the end of February 2011.At present the retailer operates through 13 shops in the market. The move comes as part of the its plans to increase its presence overseas with 15 to 25 new stores ...
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Fast Retailing plans 200 g.u. stores
Fashion retailer Fast Retailing has revealed plans to have opened 200 stores for its low-cost casualwear brand g.u. in Japan by 2013. The company - which owns Uniqlo - plans to open 25 shops, to bring its total number of stores to about 120, by the end of May. It ...
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Thai Office Depot franchise generated sales of £52m in 2009
Central Retail has revealed its Office Depot franchise generated sales of Bt2.8bn (£52m) in 2009.Managing director Somchai Tawonrungroaj said that Office Depot’s key success factors were business expansion (two new stores opened during the year) and an increase in the number of private-label products sold.Tawonrungroaj said: “For the business direction ...
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Aeon to expand The Big hypermarkets
Aeon has announced plans to boost its number of The Big hypermarkets. Aeon currently operates about 30 stores trading under The Big brand name.The company said that it would increase The Big store numbers seven-fold over the next three years, to 200 stores.The group also plans to convert its MaxValu ...
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First Labi flagship for Shinjuku
Japanese consumer electronics retailer Yamada Denki has opened its first Labi flagship store in Tokyo’s Shinjuku district.The 84,820 sq ft store is spread over nine floors and is expected to generate annual sales of ¥50bn (£342m). The store has a special dedicated area devoted to women in order to attract ...
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Carrefour to sell 40% of Indonesian business
Carrefour has agreed to sell a 40% stake in its Indonesian business to Para Group, a company that already operates more than 300 retail stores.Carrefour said the partnership will generate synergies with Para operations, particularly in financial services, media and lifestyle.Carrefour operates 78 stores in 22 Indonesian cities and plans ...
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First Uniqlo store to open in Taiwan
Fast Retailing has confirmed that it will open its first Uniqlo store in Taiwan, in the capital Taipei, around the autumn of this year.The opening marks the Japanese retail giant’s latest effort to extend its global reach. Fast Retailing will invest ¥430m (£2.9m) in setting up a wholly owned subsidiary ...
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Lotte Shopping gross sales increase
Department store and hypermarket operator Lotte Shopping has reported a 12.1% increase in gross sales to KRW3.4 trillion (£1.83bn) during its fourth quarter.Operating profit rose 22.2% to KRW260bn (£139.5m). Pre-tax profit was up 17.9% to KRW249bn (£133.6m).
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Your Personal Store to expand in the Philippines
AS Watson-owned chain Watsons Your Personal Store is to expand in the Philippines as it eyes sales growth of 11% this year and targets more than 5% market share of the country’s PHP90bn (£1.21bn) beauty business.Watsons Philippines chief executive Robert U Sun said the company would convert up to 10 ...
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Who is buying Buy The Way?
Bidding is coming to a close for local convenience store chain Buy The Way, which was put up for sale by private equity owner Unitas Capital late last year.AEON-owned Ministop, Lotte Group - which owns the 7-Eleven franchise in South Korea - and US private equity firm Carlyle Group have ...
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AnalysisAsian markets beckon for crunch-hit fashion players
Slowed consumer spending in their recession-hit home markets has led the world’s largest fashion retailers to pursue Asia for growth. Retailers such as Inditex, H&M and Gap are now finding more fertile grounds for expansion in the region, where the effects of the economic downturn have been much less severe.
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Revenue at pharmacy operator Nepstar declines 9.3%
Revenue at pharmacy operator Nepstar declined 9.3% in the third quarter to Yn556m (£495m), while net income remained stable at Yn7m (£33m).Nepstar chief finance officer William Dai said: “Our ability to consistently generate strong free cash flow demonstrates that our financial health has strengthened throughout the economic recovery and paves ...
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AnalysisAS Watson: Gunning for the Chinese lion’s share
Global health and beauty giant AS Watson has big plans for China, with ambitions for as many as 5,000 stores there. Tim Danaher flew to Shanghai for a rare interview with managing director Dominic Lai, the man masterminding the Superdrug owner’s expansion.
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Media Markt signs joint venture contract with Foxconn Technology Group
Metro Group-owned consumer electronics retailer Media Markt has signed a joint venture contract with Taiwan-based electronics and computer parts manufacturer Foxconn Technology Group.It plans to opens its first store in Shanghai in mid-2010. Foxconn will hold 25% in the joint venture and Media Markt will have 75%. Initially, Media Markt ...
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RT Mart to launch flagship store in Beijing
Auchan subsidiary grocer RT Mart is to launch a flagship store in Beijing – its first in the city.The grocer, which is based in Taiwan, is fitting out the store at present and will be located in the city’s Chinatown Shopping Plaza.Auchan also recently announced plans to step up expansion ...
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Costco highlights Asia as key growth region
Warehouse club operator Costco has highlighted Asia as a key growth region.In Japan, Taiwan and South Korea, Costco said it has the capacity to trade from 100 stores.In Australia, where it opened its first store in August, the warehouse club operator believe it can reach 20 stores. As a result, ...
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FamilyMart to acquire Am/pm Japan
Convenience retailer FamilyMart is to acquire Am/pm Japan for ¥12bn (£80.1m) from parent company Rex Holdings.FamilyMart, Japan’s third largest convenience chain, plans to absorb Am/pm next year and will rebrand the stores over the next two years.The chain will be acquired in partnership with its main shareholder Itochu. The merged ...