Reporting and analysis on retail, e-commerce, and consumer trends in Singapore, updated continuously by our newsroom.
DFS (Singapore) has removed Mars chocolate products from its shelves following a global recall of the products. Mars Inc said on Tuesday (Feb 23) that it was recalling chocolate bars and other products in 55 countries, including Singapore, due to choking risk…
Email and digital marketing startup Ematic Solutions has raised a pre-series A round of close to US$1 million, it announced today. The funding comes from MDI Ventures, a venture capital fund backed by Telkom Indonesia, the country’s major telco. The…
Costs related to the closure of retail stores were among the factors contributing to reduced second-quarter earnings for Singapore’s Wing Tai Holdings. Store closures caused a 12 per cent rise to S$23.8 million in administrative and other expenses…
Singapore remained one of the few bright spots for Standard Chartered last year amid huge losses elsewhere. Profit before tax in Singapore was US$567 million (S$796 million) in the 12 months to Dec 31, down 33.4 per cent year-on-year but still the second best…
Singapore Post (SingPost) has sold off part of its stake in GD Express (GDEX) for S$78.4 million (US$55.88 million) and will use the proceeds to drive global growth for its eCommerce logistics. This is a net gain of S$64 million – about five times return on…
Oversea-Chinese Banking Corp.rallied after fourth-quarter profit rose more than analysts anticipated. Shares of its two large Singapore rivals fell. The bank’s stock surged Wednesday by the most in almost six months following the release of an exchange…
To maintain its relevance in a fragmented and slow retail market, Singapore-listed Challenger Technologies will launch a new online store concept in April. In announcing its results for the full year and fourth quarter ended December 31, the IT products and…
Luxury Italian brand Furla is planning more flagship stores in Asia as the region delivers strong growth for the 89-year-old family-owned company. In an exclusive interview with Inside Retail Asia, Furla CEO Eraldo Poletto explains how the company has bucked…
SATO has supported the implementation of an RFID inventory and stock-taking system for Decks. The Singapore-based fashion retailer and apparel supplier has achieved greater efficiency and accuracy with Auto-ID solutions from SATO. Decks was previously…
Standard Chartered has hired James Dolphin from Capital One as chief information officer, retail banking, to help kickstart the bank’s digital transformation initiative. Dolphin’s appointment comes after the bank announced plans to cut 15,000 jobs and…
IT products and services provider Challenger will establish a new online store to maintain its relevance in the retail market. Known as Hachi.sg, the portal, which will be unveiled in April 2016, will boast more products, an improved shopper interface and an…
Japan’s online retailing giant Rakuten is to close its eCommerce websites in Singapore, Indonesia andMalaysia on March 1. And it is reportedly seeking a buyer for its Thailand business Tarad.com which it bought in 2010. The decisions follow a disappointing…
High operating costs – particularly rents and labor in Asia – will ensure retailers are more cautious this year, concludes real estate specialist CBRE. In its annual Asian retail outlook, the company’s research department predicts many retailers will shift…
A 75 per cent plunge in net profit has been reported by Singapore health and wellness company Eu Yan Sang International for its second quarter. However, higher sales in Singapore and Australia helped it post marginal improvements in revenue. This edged up 1…
Goldman Sachs Asset Management (GSAM), the asset management arm of Goldman Sachs Group Inc, is making its foray into the local unit trust industry with the launch of 13 retail funds in 1Q 2016. The new GSAM unit trusts, previously available only to private…
Standard Chartered Bank has appointed James Dolphin as its Chief Information Officer (CIO) for retail banking. From March 2016, Dolphin will report directly to the bank’s Group CIO, Dr Michael Gorriz, and be based in Singapore. Prior to this role, Dolphin was…
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