Jaleen Ramos

The total estimated retail sales value for June was $3.8b.

The brand’s efforts include responsible ingredient sourcing, eco-friendly packaging, and energy-efficient practices.

Lotus’s malls in Malaysia integrate sensory stimulation, ambiance, and community-centric spaces to boost experiential retail.

Retailers are expected to prioritise cost efficiency to sustain profitability.

It allows payment acceptance from 13 international mobile apps at all 3,000 stores in Thailand.

The group said it aims to reach 160 stores by 2027. 

It has already created over 100 sewing and garment-making tools for its suppliers.

Key innovations focus on skin and hair care.

This is mainly due to the changing consumption patterns amongst visitors and residents.

A unified customer experience across both physical and digital platforms is crucial.

The upcoming expansion will introduce 53 additional cafes across SM Store branches.

It is driven by enhanced mall activities and diverse experiences.

2024 is proving to be a challenging year for luxury across Asia. The first half of the year has seen significant sales declines for most luxury and mid-tier brands across the region. This is largely due to a slowdown in China with fewer Chinese travelling as a result of the poor economy. With residential prices falling, unemployment growing and the stock market ailing, most people in China are preferring to save their money rather than spend it. Only the super-rich have the appetite to keep spending on luxury.

Modern consumers are seeking versatile products with minimal environmental impact.

Eveline Albarracin has been named senior vice president and managing director.

He will succeed Masahiko Uotani, who will retire as chairman and CEO.