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E-commerce major Flipkart has set a target of doubling the gross merchandise value (GMV) of the products sold on its platform to USD8 billion by December this year, against the current USD4 billion, say company sources. The target was decided upon at a recent…
Mumbai-based grocery e-tailer LocalBanya is set for a fourth round of funding worth about USD15 million from domestic venture capital firms within the next quarter. The company has raised about USD20 million in three rounds, one of them about a quarter ago.…
South Korean electrical appliance giant Samsung Electronics introduced an extensive lineup of new products which included SUHD TVs, curved monitor, smartphone, notebook and printer at its 2015 Samsung Forum in Hong Kong last week. For business customers,…
Sony Corp. said on Thursday it plans to launch a training headset for runners called Smart B-Trainer that uses music to help runners adjust their pace. The 43-gram device monitors heart rate, calorie consumption and running pace, and even selects songs for…
Swiss luxury watch brand Patek Philippe announced a significant markdown in prices by up to 22 percent in the Hong Kong market, a move analysts believe is aimed at taking on an influx of European watches through parallel imports, Shanghai’s the Paper reports.…
Cyberthieves are increasingly targeting credit card information from point-of-sale systems, Tokyo-based information security company Trend Micro Inc. has warned. It’s a problem shared by countries worldwide, and Japan is no exception, the company said. POS…
South Korea’s LG has unveiled an “all-metal luxury smartwatch” in an attempt to broaden the appeal of its wearable devices as a fashion item and steal a lead on the hotly-anticipated Apple Watch. The LG Watch Urbane has a 1.3 inch plastic touchscreen display…
Traditional Thai retail businesses are expected to stay afloat, but their market share is likely to drop over the next five years as e-commerce proliferates.
Cheered by her famous family, Victoria Beckham brought a sexy vision of fall/winter to an intimate New York runway show on Sunday and confided plans to open a second store in Asia. The one-time pop star, mother of four and wife of retired English football…
Dick Smith says Australian retail is starting a sunny period, as seven years of deflation in consumer electronics is replaced by price rises. Price increases to reflect higher import prices will start to flow through now, said Dick Smith managing director and…
Robinsons Land Corp. (RLC), the property development arm of tycoon John Gokongwei, is opening more shopping centers over the next two years as it intends to retain its foothold as among the top mall developers in the country. RLC said it intends to put up…
Aeon (Thailand) Co, the operator of MaxValu supermarkets, has announced plans to speed up expansion in Thailand by increasing its number of stores to 500 by 2020. The company, which now operates 76 outlets in supermarket and mini-supermarket formats, is…
At least 28 new community malls will be opened in Bangkok and suburban areas in 2015-16 in response to growing urbanisation and changing lifestyles. Community malls accounted for the biggest growth in the retail sector last year. Over a half or 147,000 square…
Italian mannequin maker Almax caused a stir two years ago with its Eye See mannequins, which use facial recognition technology. In one store, Almax’s mannequins alerted managers to a regular spike in Asian customers coming through a particular entrance after…
Two new shopping centres with a combined gross floor area space of more than 60,000 square metres will open this year at downtown Xintiandi area, as Shanghai’s first large-scale city-core redevelopment project continues to upgrade, according to China…
US-owned 24-hour convenience store Circle K has opened its 100th outlet in Vietnam and expects to have 150 by the year’s end. Vietnam CEO Tony Yan was optimistic about achieving the target, saying Vietnam’s modern retail industry was in the initial…
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