Retail and consumer goods industry news

16 May 2019
After four years in Vietnam, Auchan has decided to sell all its stores due to challenging conditions. Review of loss-making operations Auchan has 18 stores generating a revenue of US$50.4m in Vietnam. The exit from Vietnam is part of Auchan’s Renaissance action plan to put greater focus on generating profits. The retailer has also signed an agreement to sell most of its estates in Italy to...
16 May 2019
A.S. Watson has expanded its Watsons One Pass loyalty program to cover over 660 stores in China’s Greater Bay Area. Convenience for cross-border travellers Shoppers in Guangdong, Hong Kong and Macau are now able to enjoy member benefits when they shop at Watsons by using just one loyalty card, Watsons One Pass. The retailer operates in all 11 cities in the Greater Bay Area, and the new init...
16 May 2019
Alibaba Group announced financial results for the quarter ended 31 st March 2019. Strong performance with growing user base The group reported strong performance for the quarter. Daniel Zhang, Chief Executive Officer of Alibaba Group commented that “ Alibaba is becoming synonymous with everyday consumption in China, growing our base to 654 million annual active consumers and extending our ...
15 May 2019
Phoenix Petroleum, owned by Dennis Uy, is acquiring Circle K in the Philippines. Acquisition through Philippines FamilyMart Phoenix Petroleum’s subsidiary Philippine FamilyMart CVS Inc. is in the process of acquiring Circle K in the Philippines. The acquisition aims to help FamilyMart drive future growth, with Circle K stores set to be rebranded to the FamilyMart banner over the next few mo...
15 May 2019
FamilyMart is reportedly suing to end its partnership with Taiwanese conglomerate Ting Hsin Group in China. Dispute over royalties and visibility FamilyMart has accused Ting Hsin of failing to arrange a fair share for profits it earned from its business in China, and not providing adequate information on the venture’s profitability. More about the partnership FamilyMart first establis...
15 May 2019
Rakuten has published its results for the first quarter, with Group revenue up 15.9% to JPY280,294m (US$2.5bn) compared with the same period last year. Internet Services revenue up 13.8% Year-on-year revenue from Internet Services, Rakuten’s core business including ecommerce and travel booking services, increased 13.8% to JPY169,975m (US$1,5bn). Profit jumped 620.8% to JPY111,645m (US$1bn) ...
15 May 2019
Berli Jucker, operator of Big C, reports revenue of THB30.9bn (US$979m), gaining THB1.6bn (US$50.5m) over the same period last year. Solid growth due to expansion The revenue growth is driven by continued store network expansion with 27 Mini Big C in the quarter. 13 convenience stores were closed. By the end of March 2019, the retailer has 147 hypermarkets, 61 supermarkets, 797 Mini Big C a...
15 May 2019
Honestbee will stop delivering food from restaurants and temporarily suspend laundry service in Singapore from 20 May.  Strategic review to optimise business The retailer will continue to operate its grocery delivery service and cashless supermarket called habitat in Singapore. However, shoppers will not be able to order food and laundry delivery services from next week. The retailer announ...
15 May 2019
Aeon Orange Thanlyn Sakura is opened in Yangon, Myanmar’s capital city, selling home electronics, clothing and other household items on top of foods. First hypermarket in the region The new hypermarket is 2,800 sq m, triple the size of its supermarket. In addition to grocery and general merchandise, there is a ready to eat selection of local dishes, salads and desserts in a 70 sq m dining a...
13 May 2019
In 2018, Sheng Siong opened 10 new stores, bringing its total store count to 54 and total retail area to more than 46,000 sq m. We recently visited its store in Junction 10, Woodlands Road and bring you some in-store highlights.  Source: IGD Research Located in a shopping mall near the Bukit Panjang MRT station, this 1,900 sq m store contains a wide range of fresh foods as well as packag...