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Higher demand for food delivery workers has ramped up the industry’s labor cost. The rapid growth of South Korea’s food delivery market during the COVID-19 pandemic has inadvertently caused a sharp rise in delivery fees, leaving small business owners and…
Its newly-opened 5,000th store is located in Gwanyang-si, South Korea. Starbucks is planning to expand further in Asia Pacific by opening 400 stores this 2023 after it opened its 5,000th store in the region in South Korea. In a statement, Starbucks said it…
Mixue, a Chinese tea-based beverages brand that is set to list on the main board of the Shenzhen Stock Exchange, has recently entered the South Korean and Japanese markets. In the beginning of November, an account named “MIXUE.Japa” became active on…
Luxury brand Kering Eyewear has launched its first store in South Korea, located on the eighth floor of Lotte Duty Free’s store in Busan. A collaboration between Kering Group and Lotte, the brand claims the new boutique is its largest store in Asia to date.…
Online fashion resale platform Vestiaire Collective said on Wednesday it is expanding into South Korea, choosing the fast-growing luxury market as a springboard for a deeper push into Asia. The expansion of the Paris-based tech start-up that hit unicorn…
Beauty retailer Sephora has entered the Vietnamese market with a dedicated ecommerce store after an initial trial period of five months. Local customers can now buy directly from Sephora online, but there is no word yet on whether the global brand will open a…
Sales at South Korea’s top department stores rebounded sharply in February from the previous month, government estimates showed on Tuesday, reflecting this year’s change of timing for the Lunar New Year holiday. Combined sales last month at department stores…
South Korea’s Lotte Group has agreed to acquire a 100% stake in Ministop Korea for 313.4 billion won ($263 million), the country’s fifth-largest convenience store chain, from Japan’s Aeon Co., Lotte said on Jan. 21. With the purchase in cash, Lotte’s…
South Korean health and beauty chain CJ Olive Young is looking to raise around US$1 billion in an initial public offering, as the company seeks to tap a booming market for new listings. The listing, which two sources aware of the matter say is set to take…
Double-digit sales growth in China, South Korea, and the Americas underpinned a 37-per-cent lift in first-half sales for luxury fashion group Burberry to US$1.63 billion. The lift reflected a recovery in-store sales as Covid-related lockdowns and trading…
Italian home accessories and lifestyle brand, Frette, has expanded its footprint in Singapore with its first boutique in Marina Bay Sands. The store also marks the brand’s first mono-brand boutique in the territory. Designed by Milan-based architecture studio…
After stoking a series of controversies, including a fire at a logistics centre and poor working conditions, South Korean e-commerce giant Coupang is now facing a government investigation into alleged unfair trading practices. The Korea Fair Trade Commission…
South Korean retail giants Lotte Shopping and Shinsegae Group have submitted separate letters of intent for online marketplace eBay Korea, the retailers’ spokesmen confirmed on Monday. It is a deal that will almost certainly shake up the country’s e-commerce…
Milan-headquartered UniCredit has bolstered its Asia business with the hire of a head of Korea coverage from Commerzbank. Jaeho Mike Hyun joins the Italian lender as its head of Korea coverage, according to a report from «GlobalCapital», to oversee financial…
America’s Citigroup will exit 13 international consumer banking markets, including Vietnam, to shift its focus to four wealth centers. The move is part of the bank’s strategic decision to direct investments and resources to businesses with the greatest scale…
It was earlier this week when Hyundai Motor suspended production at its Asan plant because of a chip shortage. The South Korean carmaker has announced that it will again halt production at its Sonata-producing plant for two days next week due to an electric…
