Retail and consumer goods industry news

22 March 2019
South Korea’s food manufacturing conglomerate Daesang Group is to sell its remaining stake in the convenience store chain, Ministop Korea, to its Japanese partner Aeon. A deal estimated at US$80m Daesang and Aeon are finalising the terms of the deal, which is estimated at US$80m. Both parties aim to complete the sale within March. Aeon currently owns 76.06% Ministop Korea, Daesang 20% an...
21 March 2019
German wholesaler Metro has called for bidders for its operations, kicking off the official sale process. A deal valued between US$1.5bn and US$2bn Metro, owns 95 stores in China as well as real estate assets in several major cities such as Beijing and Shanghai, is seeking a deal that would value the business from US$1.5bn to US$2bn. It is reported that the decision to exit China is a pa...
21 March 2019
The world's largest international health & beauty retailer has posted a strong set of annual results. Results summary - growth across all H&B divisions At the end of 2018, A.S. Watson’s retail division had 14,796 stores across 24 markets, a 6% increase compared to the previous year. Total sales for the Health and Beauty segment increased 10% to HKD138,987m, with comparable stores growing 2....
21 March 2019
Saigon Co.op, a leading retailer in Vietnam, is developing a shopping centre and more supermarkets in Can Tho. Biggest mall in Mekong District Can Tho is one of the five largest cities in Vietnam, with a population of 1.4 million people. The new shopping centre will be built in Cai Rang district, with a total floor area of about 40,000 sq m. Similar to SC VivoCity in district 7 in Ho Chi Mi...
20 March 2019
TVB's Big Big Shop has partnered Convenience Retail Asia to allow shoppers to collect online purchases at Circle K stores in Hong Kong. Offering shoppers greater convenience The partnership between TVB and Convenience Retail Asia (CRA) was signed earlier this week. Shoppers using Big Big Shop, launched in July last year, will be able to collect at Circle K stores. With a network of 337 stor...
20 March 2019
Asian private-equity firm MBK Partners withdrew a planned Homeplus property float due to weak interest. A potential US$1.5bn plan MBK was planning to spin off 51 of the South Korean retailer’s hypermarket buildings in cities including Busan and Incheon through a US$1.5bn float of a real estate investment trust (REIT). The proceeds were potentially to be used to pay off most of a hefty fi...
20 March 2019
FairPrice will hold prices of 100 private label products stable until June 2020 to reduce the burden of essential groceries on shoppers. Ensuring affordability of basic products The initiative aims to provide an industry benchmark to keep prices stable, regardless of changes in supply. The 100 products span a wide range of categories like rice, oil, milk, poultry, batteries, snacks, toiletr...
14 March 2019
Hong Kong-based Convenience Retail Asia (CRA) has posted a solid set of annual results, with Group revenue increasing by 4.4% to HKD5,320m (US$677.7m). Revenue and profits up despite challenging trading conditions Increase in revenue was mainly attributed to a 2.9% growth in comparable-store sales for the convenience store business and sales at Zoff. Core operating profit grew 17.5% to HKD2...
12 March 2019
A.S. Watson and L'Oréal's AI and AR firm ModiFace have launched a virtual makeup service. Technology driving online and offline integration L'Oréal continues to work with A.S. Watson to develop better beauty experiences for shoppers. Last year, the two businesses launched ColorLab by Watsons . Now, they have launched a new technology that allows shoppers to discover and test makeup ...
12 March 2019
German wholesaler Metro Group will be focusing on online sales for corporate customers and building a fresh food supply chain in Myanmar. First new market entry since 2010 The wholesaler has partnered with Yoma Strategic Holdings Ltd, a Singapore-listed company to launch the service. Myanmar is the 36 th country in the group’s network. 75% of the products will be locally sourced through pa...