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Alibaba Group 2022 net income drops nearly 60% to US$9.77b
Alibaba Group 2022 net income drops nearly 60% to US$9.77b
The Group linked this to decreases in market prices of its equity investments.
How Amazon Singapore helps alleviate SG SMEs’ local delivery woes
Singaporean sellers on Amazon increased 45% between 2019 and 2021.
Coty launches first-ever Chloé Fragrances e-commerce store
The digital store opening is in partnership with Lazada.
L’Oréal’s BOLD invests in Japanese beauty startup
This is the company’s first venture capital investment in Japan.
APAC social media ad spend up 8% YoY in Q1 2022
The average monthly ad spend per brand was $1,500.
J&T Express expands network to Brazil
This is the second market it entered in Latin America, following Mexico.
Jo Malone London launches flagship store on JD
The UK-based brand offers perfumes and various fragrance products.
South Korean retailers expand entertainment space on-site
A Lotte Mart outlet opened a futsal court, whilst a Homeplus store built a swimming pool.
The J Shop opens 4 pilot physical stores in Chinese cities
Three of the stores were jointly developed with Italian luxury retailer COSCIA.
Taobao launches AI sign language translation
The company seeks to involve and engage more deaf customers.
Weekly News Wrap: Big luxury brands fret over China lockdowns; Sea surges after higher-than-expected gaming sales
And Singapore-based Zilingo fires its CEO amidst a probe on “irregularities.”
China’s retail market not out of the woods yet for Q2
Most retailers moved into a wait-and-see mode in Q1 due to lockdowns.
Starbucks’ Russia exit opens expansion opportunities in Asia: report
Starbucks followed Mcdonald’s move to withdraw operations in Russia.
Vietnam retail sales rises 6.5% in first 4 months
Fitch Solutions noted the country already steered clear of the low base effects.
Consumer spending in Vietnam to see ‘solid’ growth in 2022
This follows a 1.8% YoY growth seen in 2021.
Philippines’ Max’s Group profit nearly doubles in Q1
Its revenue jumped by 18% to P2.17b.
Sea Limited logs37.4% YoY net loss in Q1 2022
This is due to higher operating expenses and cost of revenue.
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1. Foodpanda automates ‘dark stores’ in Singapore to speed up deliveries 2. Indonesia e-commerce market to hit $46.6b by 2025 3. Tim Hortons launches packaged coffee in South Korea 4. Malaysian retailers told to prioritise technology, consumer-centric approaches 5. Unlock the power of AI in solving supply chain challenges with RELEX SolutionsResource Center
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