1 – Asia to be at the forefront of demand for app-banking

Financial inclusion remains low across most of Asia. However, it is predicted that placing onus on the financial-technology sector to enhance inclusion will boost growth further still, by between 9% and 14%, in locations such as the Philippines and Indonesia, and as much as 32% in Cambodia. >> Read the rest of this entry »

1 – Malaysia’s online sales set to quintuple by 2025, fashion leads

Online sales in Malaysia, which is currently just above 1 per cent of total retail market, is likely to quintuple by 2025, says a report. >>

2 – Luxury fashion brands start to sell on China’s WeChat messaging app

France’s Longchamp and the U.K.’s Burberry Group PLC have begun selling handbags and clothes on WeChat, China’s most popular messaging app. LVMH Moët Hennessy Louis Vuitton SE’s Givenchy and Dior brands are testing demand for their goods through flash sales on the platform. >>

3 – Michael Kors to shut over 100 stores

Michael Kors, the once-popular retailer that has been trying to turn itself around, said it expected same-store sales to continue to fall in 2018, and that it would shut more than 100 full-price retail stores in the next two years. >>

4 – China 20 report: Shanghai, Beijing still retail beacons

While their economic lead has narrowed, Shanghai and Beijing are still way ahead of other cities in terms of retailer penetration, says the latest Savills retail cities report, China 20. >>

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1 – Indonesia’s Salim Group re-enters banking with local takeover

Indonesia’s largest conglomerate, Salim Group, has acquired a majority stake in a local bank, marking its first return to the banking business since the 1998 Asian financial crisis. >> Read the rest of this entry »

1 – Customer traffic dropping fast at Korean online shopping malls

Online shopping malls are fast losing customer traffic, industry data showed , compounding their massive business losses last year. >>

2 – Hermès to debut store in second-tier Chinese city to meet surging demand

French luxury house Hermès is set to open a new store in the city of Changsha by summer. The move marks the debut of an Hermès store in a second-tier city in China. >>

3 – Goodbye Gong Cha, hello LiHo

The man who introduced Gong Cha to Singapore is now taking the bold step of removing every single outlet of the popular bubble tea brand to replace it with his own made-in- Singapore creation. >>

4 – Fast fashion is turning into ultrafast fashion – report

New players such as Boohoo.com, Asos and Missguided are bringing products from design to sale in as little as one or two weeks – even quicker than traditional fast-fashion pioneers such as Zara and H&M. >>

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1 – Wal-Mart China opens doors to Sam’s Club

Members of Wal-Mart China subsidiary Sam’s Club can now order some 200 products from Sam’s Club US stores online.It is Wal-Mart’s latest bid to boost growth in China since selling its online business there to JD.com 11 months ago. >>

2 – Contactless payments use to double in two years

New data from fintech analyst Juniper Research forecasts that the global value of contactless payments made via cards, mobile and wearables, will reach US$1.3 trillion by 2019, more than doubling from an estimated $590 billion in 2017. >>

3 – Impresa Hospitality eyes 300 restaurants under Maroosh brand

Impresa Hospitality is planning pan India and overseas expansion of its Maroosh brand with 300 restaurants in the next five years. >>

4 – Pizza Hut to upgrade 221 restaurants in Malaysia

KUALA LUMPUR: The operator of Pizza Hut, QSR Brands (M) Holdings Bhd, plans to upgrade its 221 dine-in restaurants over the next two years, as part of its re-branding activity in conjunction with Pizza Hut’s 35th anniversary. >>

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