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Takashimaya, the Japanese department store operator, has reported a loss of US$190 million in the May quarter as it faced extraordinary payments related to the Covid-19 pandemic and falling sales. The company was forced to effectively close 22 stores in Japan…
Singapore retail sales plummeted 52.1 percent in May as Covid-19 lockdowns shuttered malls and the majority of retail stores across the city-state. May’s year-on-year decline followed a 40.3 percent drop in April and represented the biggest drop since…
Diesel has unveiled Hyperoom, a 360-degree virtual selling platform and exhibition space. Conceived by Diesel’s parent company OTB, Hyperoom resembles the Diesel’s physical showroom in Milan. All Diesel’s products will be featured in the virtual store through…
Fashion giant H&M is expanding its online presence around the world, as it continues to recover from the coronavirus pandemic and work toward its goal of becoming climate positive by 2040. The company said it will expand the digital presence of its brands…
“Customers today care less about the breadth of assortment and more about availability.” Covid-19 has accelerated key underlying global retail trends that were already reshaping the industry according to a new report by KPMG. The research finds that retail…
Italian jewelry firm Bulgari has launched an e-commerce platform in Singapore prior to opening online services in its home territory. Korea will soon follow. The luxury brand is accelerating its digital program following the effect of the coronavirus pandemic…
In 2013, Simon Loong launched Hong Kong fintech WeLab using a small loan — just four years later the business was profitable. As one of the leaders of the second FT Asia-Pacific High Growth Companies ranking, WeLab’s story is testament to the favorable…
The Covid-19 pandemic has erased US$420 billion from China’s retail market this year – but an analyst predicts a rebound in the second half. Vijay Bhupathiraju, a retail analyst at GlobalData says before the coronavirus came along, Mainland China was on track…
Samsung Electronics has delivered better-than-expected first-quarter earnings as robust demand for chips apparently offset a slump in smartphone and home appliance sales amid the novel coronavirus pandemic. But analysts warned that the company may feel the…
Major international retailers are lining up to join the fight against the Covid-19 coronavirus outbreak. Swedish fashion retailer H&M has begun producing protective face masks intended for use by hospital staff initially in Spain and Italy, to be followed by…
China’s Geely Automobile Holdings Ltd said on Monday 2020 may be one of its toughest years yet, as pressure stemming from the coronavirus outbreak on production and sales persists. But it said it planned to go ahead with global expansion, despite lower sales…
As the current public health situation unfolds, tech companies continue to look into ways to bring accurate knowledge to their users. Snapchat, as a typically younger-generation-oriented app, is providing a slightly different approach to promote reliable…
Apple has updated Siri so that she can perform a quick- and dirty screening to see if you need to contact your doctor in the face of the coronavirus pandemic. The update seems to have been disseminated today as iPhone users started to notice this new feature…
Burberry sales have declined by between 40 percent and 50 percent during the last six weeks as the coronavirus crisis takes its toll on retail. And in a statement released to the market, the company says it expects the figures to get even worse in the future,…
Other than the very obvious health concerns caused by COVID-19, the ongoing pandemic is also causing much economic trouble. Apple introduced a customer assistance program for Apple Card users to help offset financial concerns. Many Apple Card users on Reddit…
Ford said on Sunday it would shut its Spanish plant in the eastern region of Valencia for one week starting on Monday after three employees tested positive for coronavirus. “We have had three positive cases of COVID-19 in the Ford Valencia plant in the past…
