Asia news & analysis

17 November 2020
Central Retail Corporation (CRC) has achieved V-shaped recovery in the third quarter of 2020, 87% Q1 sales level. The retailer reports Q3 revenue of THB47,573m (US$1,577m) and a net profit of THB746m (US$24.7m). Food segment sales supported by Vietnam growth Vietnam food business grew +0.4% for Q3 while Thailand registered -18% decline compared to last year. Overall, the food segment is -11...
16 November 2020
Walmart, KKR and Rakuten have signed an agreement that will change the ownership structure of Seiyu in Japan. New ownership structure In a deal worth JPY172.5bn (approx. US$1.6bn), KKR will acquire 65% majority stake in Seiyu, Rakuten will acquire a 20% stake, through a newly created subsidiary, and Walmart will retain 15%. The transaction is subject to regulatory approvals and is expected ...
12 November 2020
Alibaba is celebrating its twelveth 11.11. Singles Day. We have been tracking its latest news and development. Its first sales window from 1-3 November has registered record sales. We wrap up the event with a highlight of major brand activites that contributed to this year's success. Summary and key highlights: Total GMV recorded over the event including the presales period is CNY498.2...
10 November 2020
The leading retailer's ecommerce platform, SSG.com, will launch new market service in December, in direct competition with Coupang. Host small dealers to increase online SKUs Currently SSG.com sells products directly purchased from suppliers or partners. The 10m products that it carries only account for 10% of SKUs on an average online marketplace. By hosting smaller dealers on its pla...
10 November 2020
Monthly data updates from the three largest convenience chains in the world, 7-Eleven, FamilyMart and Lawson, focusing on sales, customer footfall and average customer spend in Japan.  FamilyMart post positive monthly all store sales, but only due to new stores For October, FamilyMart posted positive monthly all store sales for the first time this fiscal year. However, this was due to the r...
10 November 2020
Tesco is Malaysia’s first major retailer to partner with on-demand delivery service provider foodpanda. Strengthen Tesco’s only presence Klang Valley shoppers can use foodpanda’s platform to order from Tesco’s 11 stores. Shoppers can choose from 3,000 items ranging from fresh produce to groceries and have them delivered in 40 minutes. Tesco is also aiming to expand with foodpanda into other...
09 November 2020
Thai legislators approve Charoen Pokphand Group (CP Group)'s acquisition of local retail business of Tesco with conditions. Ban on other modern trade merger for three years The Office of the Trade Competition Commission (OTCC) said that CP will not be allowed to enter another merger, except for ecommerce, for three years. It will also have to buy more products from local small and medium en...
06 November 2020
We round up the latest developments leading to the 11.11, the largest online Global Shopping Festival. Highlights from 1 - 3 November The first parcel was delivered within 11 minutes to a customer in Wuhou District in Chengdu 100 brands topped gross merchandise volume of CNY100m in 111 minutes after sales officially began. They include Nike, Adidas, Apple, L’Oréal, Estée Lauder, Xiaom...
06 November 2020
A global strategic partnership between Alibaba, Richemont and Farfetch will provide brands improved access to China’s luxury market. Partnerships expanding the ecosystem Farfetch will launch on Alibaba Group’s Luxury Platforms in China, e.g. Alibaba’s Tmall Luxury Pavilion and Luxury Soho platforms as well as cross-border marketplace Tmall Global. Alibaba and Richemont will invest US$500m i...
06 November 2020
Alibaba Group has released its Q2 results for the three months ending 30th September. Revenue increased 30% to CNY155.1bn (US$22.8bn) YoY. Growth slowing, but still relatively strong   The number of annual active customers on Alibaba’s China retail marketplaces increased by 15m to reach 757m. Mobile MAU’s reached 881m at the end of September. Ahead of the retailer's 12th annual shopping eve...