Every story from across Asia, newest first — your real-time feed for retail, e-commerce, and consumer intelligence.
Walmart China plans to open 30 new stores in China this year, according to media reports from China. In addition to the store openings, the US-based retail giant says it will invest US$59.11 million in upgrading about 50 existing stores to modernise them.…
Li & Fung has blamed an 18 per cent slide in annual profit on tighter retail margins and transitional costs associated with repositioning the business. Turnover for the internationally renowned consumer goods design, development, sourcing, logistics and…
Amazon and Microsoft are “friends” not rivals of Alibaba in the cloud computing space, a top exec at the Chinese e-commerce giant told CNBC. The comments come just a few days after Alibaba opened a data centre in Silicon Valley – its first on US turf in a…
E-commerce giant Lazada Group is set to spend more to develop its logistical system, planning to double its supply hubs in the country by year-end, the firm’s country representative has said. Lazada Indonesia CEO Magnus Ekbom said on Thursday, while marking…
Vivo City Shanghai developer Mapletree Group has signed up a cinema chain as a key anchor of the development, currently under construction. A 15 year lease has been signed by Pegasus Entertainment Holdings for a two-story cinema complex taking up the top two…
Actress Jessica Alba is contemplating taking her non-toxic consumer products brand Honest into China. Honest is a growing range of non-toxic consumer products ranging from baby feeding products to shampoos, personal care lines, vitamins, diapers and blankets.…
Alibaba executive chairman Jack Ma has shocked the IT world by demonstrating technology allowing shoppers to ‘pay by face’. The concept is simple: using facial recognition technology consumers can have their face scanned to prove their identity and settle for…
Iconix Brand Group has bought the 50 per cent stake in its China joint venture from partner Novel Fashion Brands. Iconix paid Novel’s owners, the Chou family, $56.4 million for the share, of which $40.4 million was paid in cash and $16 million was paid in the…
WeChat parent Tencent says its profit soared 54 per cent in the year to December. Tencent, which also owns instant messaging service QQ, says profit was boosted by breakthroughs in the technology behind online security and mobile payments. With Facebook…
Jimmy Choo China plans more stores as Asia drives the newly-listed brand’s global growth. This week, Jimmy Choo posted its first results since floating on the London Stock Exchange last year – a small pre-tax loss, largely attributable to IPO costs. About…
Japanese eCommerce giant Rakuten is to pay US$410 million in cash to buy OverDrive, a leading eBook and audiobook content marketplace and sharing economy pioneer. Cleveland, US-based OverDrive was founded in 1986 and supplies the world’s largest catalog of…
Australia’s Lend Lease has signed up to develop a new retail and residential development in Malaysia. Lend Lease will have a 60 per cent stake in The Lifestyle Quarter with local developer 1MDB Real Estate the balance. 1MDB is the master developer for an…
Convenience Retail Asia says sales in its convenience stores and bakeries rose marginally last year, but rising costs dented profits. CRA, part of the Fung Retailing group, operates 604 retail stores in southern China. It has 329 Circle K stores in Hong Kong…
US coffee retailer Starbucks has signed a joint venture in China to manufacture and distribute ready-to-drink beverages in the grocery channel. Starbucks China chose listed Chinese drinks company Tingyi Holding Corp, which trades as Master Kong, to make and…
Grow your business across the region at Last Mile Fulfilment Asia (LMFAsia) 2015 Conference & Exhibition – the business platform which brings together retailers, eCommerce companies and the Last Mile Fulfilment Industry. With the burgeoning potential and…
Price comparison site, PricePanda, and Sydney-based, Getprice, will merge to create an online comparison shopping business network across the Asia Pacific. The newly created group will operate as Next Commerce and will operate in nine countries across Asia…
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