Asia at a glance p2 Retail in general: Asia Pacific has the world’s largest HNWI population Shopping malls: Bangkok K-pop mall plans to open in 1Q16 Shopping malls: Croesus Singapore buys Fukuoka retail mall E-commerce: Groupon quits three Asian countries Luxury: China leads luxury spending in Asia Pacific Luxury: Girard-Perregaux opens first Southeast Asian flagship in Singapore Beauty and personal care: Amorepacific aims to be Asia’s No. 1 cosmetics company Accessories: Owndays to enter Thailand, Cambodia in October 2015 Japan p4 Statistics: CPI up 0.2% yoy in August 2015 Statistics: Retail sales add 0.8% yoy in August 2015 Retail in general: Japan’s tourist numbers keep surging, with Chinese tourists underpinning the growth Supermarkets: Seven & I to shutter 40 Ito-Yokado supermarket stores by 2020 Convenience stores: Seven & I to open giant online store Convenience stores: Lawson accepts UnionPay Apparel: Fast Retailing speeds up expansion in China Luxury: Issey Miyake makes debut in Hong Kong

South Korea p6 Statistics: Consumer sentiment index adds 1 point yoy in September 2015 Retail in general: South Korea’s coupon app Yap launches new services to Chinese tourists E-commerce: CJ Group reaches exclusive cooperation with Alibaba’s Tmall Global E-commerce: Samsung Pay launches in the U.S. Apparel: Samsung C&T to tap China’s fashion market via Tmall Apparel: Spyder enters South Korea in tie-up with Global Brands Taiwan p8 Statistics: Retail sales slide 0.7% yoy in August 2015 Statistics: Consumer sentiment index slides 0.83 point mom to 85.32 points in September 2015

Thailand p9 Retail in general: Berli Jucker eyes big rise in international sales Shopping malls: Thai shopping mall developers to spend US$2.83 billion to promote regional shopping hub E-commerce: Alibaba Juhuasuan to directly deliver Thai products to Chinese consumers Malaysia p10 E-commerce: Malaysian government invest in Indian online fashion retailer YepMe Singapore p10 Statistics: CPI down 0.8% yoy in August 2015 Luxury: Boucheron makes debut in Singapore

16 September 2015 – 30 September 2015

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 2

Asia at a Glance Retail in general: Asia Pacific has the world’s largest HNWI population Asia Pacific led all the regions in high-net-worth individual (HNWI) growth and overtook North America as the world’s top spot of HNWI population in 2014, according to the World Wealth Report from French management consulting firm CapGemini and Royal Bank of Canada Wealth Management. Asia Pacific’s HNWI population in 2014 rose 8.5% to 4.7 million and wealth gained 11.4% to US$15.8 trillion, the highest growth rates worldwide. The growth in the region was mainly driven by emerging markets, in particular China and India, both representing almost 10% of global HNWI wealth. In 2014, China witnessed its HNWI population increased by 17.5% yoy to 890,000, with their wealth expanding 19.3% yoy to US$4.5 trillion. India, meanwhile, registered the fastest growth worldwide in HNWI population and wealth, which surged 26.3% yoy to 198,000 and 28.2% yoy to US$785 billion respectively.

RBC Wealth Management, accessed on 21 September, 2015 http://www.rbcwealthmanagement.com/wealth-insights-research/thought-leadership/apwr2015/apwr-marketanalysis.html Asia Asset Management, 16 September, 2015 http://www.asiaasset.com/news/HNWIreport_da1509.aspx

Shopping malls: Bangkok K-pop mall plans to open in 1Q16 A Southeast Asian consortium is set to open a K-pop mall in Bangkok, Thailand. The project, scheduled to be completed in 1Q16, is led by Show DC, a Thailand-based firm managed by commercial property developer AEC Capital, which is a joint venture controlled by a group of Thailand and Malaysia investors. The K-pop mall, tentatively named “K-Town”, with a floor area of 152,000 sqm, will be a six-story commercial complex comprising shops and restaurants catering to the fans of Korean pop culture. South Korea’s leading hospitality firms including major duty-free chain Lotte Duty Free and catering company YG Food also considers opening branches in the shopping complex. The consortium also plans to expand the K-Town project to other Thai cities including Chiang Mai and Phuket, and Malaysia.

Inside Retail Asia, 17 September, 2015 https://insideretail.asia/2015/09/17/bangkok-k-pop-mall-planned/

Shopping malls: Croesus Singapore buys Fukuoka retail mall Croesus Retail Trust, a Singapore-listed retail business trust, has acquired Torius Property, a large-scale retail mall in Fukuoka prefecture, Japan, for 7,997 million yen (S$95.2 million). The property, comprising 36 separate retail buildings with a land area of 257,173 sqm and a net leasable area of 77,032 sqm, generates a yield of 7.8%. It will be Croesus Singapore’s eighth Japanese property and marks the firm’s entry to Kyushu Island.

Inside Retail Asia, 29 September, 2015 https://insideretail.asia/2015/09/29/croesus-singapore-buys-fukuoka-mall/

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E-commerce: Groupon quits three Asian countries Groupon, a U.S.-listed e-commerce company operating group buying discount websites, has shut down its businesses in Taiwan, Thailand and the Philippines as part of its global downsizing initiative which is expected to see 1,100 jobs cut. In addition to the withdrawal from the three Asian markets, the e-commerce player has also ceased operation in Greece and Turkey and has planned to shutter its businesses in Panama, Morocco, Puerto Rico and Uruguay. In early 2015, the company also unloaded almost half of its business in South Korea. Inside Retail Asia, 24 September, 2015 https://insideretail.asia/2015/09/24/groupon-gives-up-on-asian-markets/

Luxury: China leads luxury spending in Asia Pacific Multinational payment firm MasterCard has recently surveyed 2,272 millennials across 14 Asia Pacific markets and found that a typical millennial from China intended to spend US$4,362 on luxury goods in 2016, almost twice to the region’s average of US$2,584. South Korea millennials ranked second with an anticipated payout of US$2,638, followed by the third-placed Hong Kong, where millennials expected to spend more or less as the regional average. Tech items such as smartphones or tablets are the most sought-after product categories for Asia Pacific millennial shoppers, with 25% planning to buy such a device in the next 12 months; 17% cited designer clothes and jewellery. Over half of millennial shoppers in China, South Korea, Hong Kong and Vietnam prefer Western brands for reasons of quality, value for money and brand loyalty. Physical stores remain the overwhelming favorite place to shop for luxury goods; almost 64% of respondents preferred this option while merely 9% opted for local e-commerce websites and 4% overseas websites. Warc, 23 September, 2015 http://www.warc.com/LatestNews/News/Chinas_millennials_lead_luxury_spending.news?ID=35432&utm_source=Jing+Daily+List&utm_campaign=1f376323b3-Jing_Daily_s_China_Brief_August_18_2015&utm_medium=email&utm_term=0_8dec01cd8d-1f376323b3-407941601&goal=0_8dec01cd8d-1f376323b3-407941601

Luxury: Girard-Perregaux opens first Southeast Asian flagship in Singapore Girard-Perregaux, Swiss’s luxury watchmaker, has opened its first Southeast Asian flagship in Singapore in partnership with The Hour Glass, the Singapore-based exclusive distributor of Girard-Perregaux in Southeast Asia. The boutique, located at The Shoppes at Marina Bay Sands, features the most comprehensive collection of Girard-Perregaux timepieces, ranging from Haute Horlogerie to iconic collections including GP 1996, the seductive feminine Cat’s Eye collection and the Vintage 1945. Inside Retail Asia, 28 September, 2015 https://insideretail.asia/2015/09/28/girard-perregaux-singapore-flagship/

Beauty and personal care: Amorepacific aims to be Asia’s No. 1 cosmetics company Amorepacific, South Korea’s largest cosmetics company, plans to increase its sales by 250% to 12 trillion won by 2020, aiming to overtake Japan’s cosmetics giant Shiseido as Asia’s largest cosmetics company. To achieve its goal, the South Korean

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 4

beauty player plans to lift its overseas sales proportion to 50% from the existing 20% and focuses its expansion on about 30 countries worldwide, with each of which holding a population of over 10 million. Apart from expediting its penetration in hypermarkets across Bangkok and Jakarta, the company also plans to tap the Middle East Market including the United Arab Emirates in 2016, followed by Brazil, Mexico and Colombia in Central and South America in 2017. Nikkei.cn, 24 September, 2015 http://cn.nikkei.com/industry/tradingretail/16239-20150924.html/?n_cid=NKCHA014 (in Chinese only)

Accessories: Owndays to enter Thailand, Cambodia in October 2015 Owndays, Tokyo-based fashionable eyewear maker, will open its first stores in Thailand and Cambodia in October 2015. The debut stores will be located at Mega Bangna shopping centre in Bangkok, Thailand and Aeon Mall in Phnom Penh, Cambodia respectively. The retailer also plans to open 100 new stores in Southeast Asia over the next five years. Owndays currently operates 130 shops in Asia, including Japan, China, Taiwan and Singapore. Inside Retail Asia, 29 September, 2015 https://insideretail.asia/2015/09/29/japans-owndays-to-enter-thailand-cambodia/

Japan

Statistics: Retail sales add 0.8% yoy in August 2015 Japan’s retail sales gained 0.8% yoy in August 2015. By category, retail sales of general merchandise, medicine & toiletry stores, food & beverage, motor vehicles, fabrics apparel & accessories and machinery & equipment grew between 1.9% yoy and 4.8% yoy. By contrast, retail sales of fuel services plunged 10.6% yoy in August 2015. Ministry of Economy, Trade and Industry, 30 September, 2015 http://www.meti.go.jp/english/statistics/tyo/syoudou/index.html

Statistics: CPI up 0.2% yoy in August 2015 Japan’s consumer price index added 0.2% yoy in August 2015. By category, prices of miscellaneous goods, medical care, education, culture & recreation, furniture & household utensils, clothes & footwear and food grew between 0.8% yoy and 2.7% yoy, while prices for housing remained unchanged. By contrast, prices for transportation & communication and fuel, light & water charges fell 2.7% yoy and 5.9% yoy respectively in August 2015. Statistics Japan, 25 August, 2015 http://www.stat.go.jp/english/data/cpi/1581.htm

Retail in general: Japan’s tourist numbers keep surging, with Chinese tourists underpinning the growth The number of foreign visitors in Japan soared 63.8% yoy to 1,817,100 in August 2015. According to the Japan National Tourism Organization, the surge in the number of foreign visitors was due mainly to a weaker yen, an expansion in the

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 5

number of international flights and the availability of duty free products, as well as relaxations in visa requirements for some nationalities. The growth in the number of Chinese visitors was particularly remarkable, with the number of arrivals from China jumped 133% yoy to 591,500 in August 2015, the second straight month topping 500,000.

The Japan Times, 16 September, 2015 http://www.japantimes.co.jp/news/2015/09/16/national/tourist-numbers-continue-to-surge-in-japan-with-china-underpinning-rise/?utm_source=Daily+News+Updates&utm_campaign=597ef1f17d-Thursday_email_updates17_09_2015&utm_medium=email&utm_term=0_c5a6080d40-597ef1f17d-332827357#.VfoUn5AVgdU

Supermarkets: Seven & I to shutter 40 Ito-Yokado supermarket stores by 2020 Japan’s retail giant Seven & I Holdings announced it will shut down 40 stores of its supermarket division Ito-Yokada in Japan by the end of February 2020, which takes up 22% of Ito-Yokada stores in Japan. The move comes after the operating profit for the supermarket chain tumbled 34.8% yoy in fiscal 2014 and the government announced a further consumption tax hike to 10% in April 2017. It is expected several Ito-Yokada stores will be closed by the end of February 2016, and about 10 stores will be closed each year until 2020. Seven & I Holdings decides to concentrate its resources in first-tier cities to improve its revenue performance. It currently operates 181 Ito-Yokada stores in Japan. Deutsche, 21September, 2015

The Japan Times, 18 September, 2015 http://www.japantimes.co.jp/news/2015/09/18/business/corporate-business/seven-i-to-close-40-ito-yokado-supermarket-stores/#.VgC0CJAVjxN

Convenience stores: Seven & I to open giant online store Seven & I, the parent company of Japan’s largest convenience store chain 7-Eleven, is set to open a mega online store dubbed Omni 7 on 11 November 2015. The new online store will offer products sourced from the company’s retail arms including 7-Eleven, hybrid supermarket chain Ito-Yokado and upscale department stores Seibu and Sogo. Onmi 7 will start off with a stock of 1.8 million SKUs and the number is expected to increase to 6 million by February 2019, including products specially created for the online store in tie-up with fast fashion giant Uniqlo. Shoppers can request home delivery services or pick up their purchase at Seven & I outlets, such as 7-Eleven.

Inside Retail Asia, 25 September, 2015 https://insideretail.asia/2015/09/25/seven-i-to-launch-online-store/

Convenience stores: Lawson accepts UnionPay Starting 24 September, 2015, Chinese tourists will be able to use UnionPay credit cards to settle payment at all Lawson stores, Japan’s second largest convenience store operator, including those trading under Lawson, Natural Lawson and Lawson Store 100 banners. Lawson has also installed 1,000 automatic teller machines (ATMs) accepting UnionPay in its store network. From 28 September, 2015, Chinese tourists can withdraw Japanese yen with UnionPay credit card or debit

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 6

card on the newly launched ATM network, which will eventually be expanded to over 2,000.

Inside Retail Asia, 18 September, 2015 https://insideretail.asia/2015/09/18/lawson-to-accept-unionpay/

Apparel: Fast Retailing speeds up expansion in China Fast Retailing, the parent company of Asia’s biggest fast fashion brand Uniqlo, announced on 29 September 2015 that it will add 100 new stores in China every year albeit the cooling economy in the country. The fashion giant currently operates 360 stores in the Greater China region, the largest market of the company outside Japan. It plans to expand its network in China, Hong Kong and Taiwan to a planned 1,000 stores in the near term and further to 3,000 stores in the medium term. Shanghai Daily, 28 September, 2015 http://www.shanghaidaily.com/business/Uniqlos-further-expansion-in-China/shdaily.shtml

Luxury: Issey Miyake makes debut in Hong Kong Issey Miyake, a Japanese luxury fashion brand, has recently opened its debut store in Hong Kong. The new store, located at Harbour City in Tsim Sha Tsui, features the brand’s collections of womenswear, menswear, shoes, handbag and accessories and fragrances. The Japanese brand has already established its presence across the world, including Asia, Europe, North America, Middle East and Africa. In Asia, its retail footprints cover Japan, South Korea, China, Taiwan, Malaysia, Singapore, Thailand and now Hong Kong.

Inside Retail Asia, 22 September, 2015 https://insideretail.asia/2015/09/22/issey-miyake-opens-in-hong-kong/

South Korea

Statistics: Consumer sentiment index adds 1 point yoy in September 2015 South Korea’s consumer sentiment index gained 1 point yoy to 103 in September 2015. By category, confidence in current living standards, prospective living standards, prospective household spending and prospective domestic economic conditions grew between 1 to 2 points yoy, while sentiment on prospective household income remained unchanged in September 2015.

The Bank of Korea, 25 September, 2015 http://ecos.bok.or.kr/jsp/use/reportdata_e/ReportDataList.jsp

Retail in general: South Korea’s coupon app Yap launches new services to Chinese tourists Yap Company, a coupon application services provider based in South Korea, has recently introduced a new app named Kayo to provide Chinese visitors with various tourism-related information, including shopping and transportation. The new app allows users to download an extensive range of coupons and other information for 100,000 local shops at popular tourist hotspots, including the

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 7

famous shopping district Myeongdong in Seoul and the southern resort island in Jeju. The company also plans to introduce payment service on Kayo in the near feature by pairing up with Alibaba’s payment arm Alipay. Yap hopes the rollout of Kayo will enable Chinese tourists to enjoy quality search services, discount information and mobile payment in South Korea and meanwhile help local retailers to attract more tourists. Yonhap News, 24 September, 2015 http://english.yonhapnews.co.kr/news/2015/09/24/0200000000AEN20150924002251320.html

E-commerce: CJ Group reaches exclusive cooperation with Alibaba’s Tmall Global CJ Group, South Korea’s trading conglomerate, has entered into an exclusive strategic partnership with Alibaba’s Tmall Global on areas such as food, cross-border distribution, media and entertainment, logistics and cross-border O2O. CJ Group will also open three flagship stores on Tmall Global, namely CJmall, Olive Young and Get it Beauty. Tmall Global also announced that it will work together with more than 20 large South Korean enterprises to launch “South Korean fashion week”. These enterprises include CJ Group, LG Household & Health Care, supermarket chains E-mart and Lotte Mart, SBS, e-commerce platform Gmarket, fashion platform Stylenanda, flash sale platform We make price, etc. ChinaSSPP.com, 22 September 2015 http://www.chinasspp.com/News/Detail/2015-9-22/204583.htm (in Chinese only)

E-commerce: Samsung Pay launches in the U.S. Samsung Pay, a mobile payment service offered by South Korea’s tech giant Samsung, started to roll out in the U.S. on 28 September, 2015 following its debut in South Korea in August 2015. The service enables users to pay for items using their phones or upcoming Gear S2 smartwatch and it even works at retail terminals that don’t support Apple Pay. Samsung Pay works with Galaxy S6, S6 Edge, Note 5, S6 Edge as well as smartphones running on wireless networks from telecommunication companies including AT&T, T-Mobile, Sprint and US Cellular. Currently, Samsung is still in talk with Verizon, the largest wireless telecommunication services provider in the U.S., on preloading the payment service on Verizon phones. The tech giant also plans to expand the payment service to China, the U.K. and Spain. Cnet.com, 28 September, 2015 http://www.cnet.com/news/samsung-pay-goes-live-in-the-us/ Ars Technica, 28 September, 2015 http://arstechnica.com/business/2015/09/samsung-pay-launches-in-the-us-today-can-it-challenge-apple-and-android/

Apparel: Samsung C&T to tap China’s fashion market via Tmall Samsung C&T, the global business unit of South Korea’s largest conglomerate Samsung Group, has signed a Memorandum of Understanding with China’s e-commerce giant Alibaba to further their cooperation in the fashion market in China. Aiming to turn China’s fashion market into its second home market via

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 8

online channels, the South Korean company is also expected to introduce its fast-fashion brand 8 Seconds on Alibaba’s online platform Tmall in 2016. It will also open a flagship store on Tmall and choose Alibaba’s group buying platform Juhuasuan as its online marketing channels. Samsung C&T by now has opened three flagship stores on Tmall for its fashion brands Beanpole, Rapido and Mvio.

China Daily USA, 17 September, 2015 http://usa.chinadaily.com.cn/business/2015-09/17/content_21905157.htm

Apparel: Spyder enters South Korea in tie-up with Global Brands Group Spyder, a Canadian ski and sportswear brand, has entered the South Korea market in partnership with Hong Kong-listed leading fashion company Global Brands Group. The sportswear brand has introduced an all-new product line in a number of freestanding stores in Seoul, Daegu, Gumi, Incheon and Sokcho, as well as shop-in-shops in the country’s fashion hot spots, including Lotte Department Store, Hyundai Department Store, Galleria Department Store and AK Department Store. The Canadian brand also plans to open 25 stores across South Korea by the end of 2015. Spyder offers technical ski, fitness, and lifestyle apparel and accessories for men, women, and children. It currently distributes its products via department stores, sporting goods stores, and specialty retailers across North America, Europe, the Middle East and now South Korea. Inside Retail Asia, 22 September, 2015 https://insideretail.asia/2015/09/22/spyder-launches-in-korea/

Global Brands Group, 22 September, 2015 http://media.globalbrandsgroup.com/file/view.php?id=147967

Taiwan Statistics: Retail sales slide 0.7% yoy in August 2015 Taiwan’s retail sales fell 0.7% yoy in August 2015, attributable to a plunge in retail sales of petrol services (down 28.7% yoy) and telecommunication & home appliances (down 7.6% yoy). By contrast, retail sales of food, beverages & tobacco, auto motors, textile & apparel, non-store retailing and department stores, supermarkets & convenience stores grew between 0.3% yoy and 6.7% yoy in August 2015.

Department of Statistics, Ministry of Economic Affairs of Taiwan, 23 September, 2015 https://www.moea.gov.tw/MNS/dos/bulletin/Bulletin.aspx?kind=8&html=1&menu_id=6727&bull_id=2251

Statistics: Consumer sentiment index slides 0.83 point mom to 85.32 points in September 2015 Taiwan’s consumer sentiment index fell 0.83 point mom to 85.32 points in September 2015, due mainly to a decline in sentiment on four sub-indices, including job market (down 2.55 points mom), household finance (down 1.2 points mom), property investment (down 1.2 points mom) and domestic economic outlook (down 0.55 point mom). By contrast, confidence in domestic price level added 0.5 point mom, while confidence in stock investment remained unchanged.

Asia (ex-China) Retail Biweekly Updates (16 September 2015 – 30 September 2015) 9

The Research Center for Taiwan Economic Development, National Central University, 30 September, 2015 http://rcted.ncu.edu.tw/upload.phtml

Thailand

Retail in general: Berli Jucker eyes big rise in international sales Berli Jucker, a Thai-listed trading conglomerate, aims to lift the proportion of its international sales contribution from the current 20% of total revenue to 50% over the next five years through acquisitions and wider network in the Southeast Asian region. The company is set to use Thailand and Vietnam as its manufacturing bases to distribute goods to Laos and Cambodia. It also plans to expand its retail and trading business in border areas to boost its sales in neighbouring countries, especially Laos. The Thai company plans to increase its number of convenience stores M-Point Mart in Vientiane, the capital of Laos, from the current 18 to 32 by the end of 2015. It also aims to raise its number of shopping mall MM Malls adjacent to the border with Laox to 15 branches over the next five years.

Bangkok Post, 17 September, 2015 http://www.bangkokpost.com/business/news/696256/berli-jucker-eyes-big-rise-in-regional-sales

Shopping malls: Thai shopping mall developers to spend US$2.83 billion to promote regional shopping hub Thai shopper mall developers plan to invest over 103 billion baht (US$2.83 billion) over the next three years to expand and add new stores as part of efforts to promote Thailand as a regional shopping hub in Southeast Asia. By 2017, the 10-member shopping mall group of developers, including Central Pattana Pcl, MBK Pcl, Siam Future Development Pcl, The Mall Group, Platinum Group and Siam Piwat Group will have a combined shopping area of over 14 million sqm compared to the current 12 million sqm. The retailers aim to attract more foreign tourists in particular from China, Vietnam and Russia and encourage them to spend 10% more than the previous year. Central Pattana Pcl, the largest retail developer in Thailand taking up 67% of the total market share, is expected to have 21 million sqm of shopping area by 2017 from current 18 million.

Fashionmag.com, 29 September, 2015 http://kr.fashionmag.com/news/Thai-malls-to-invest-2-8-bln-to-promote-regional-shopping-hub,576297.html#utm_source=newsletter&utm_medium=email

E-commerce: Alibaba’s Juhuasuan to directly deliver Thai products to Chinese consumers Alibaba’s group-buying platform Juhuasuan announced in Bangkok, Thailand that it will work together with Thailand’s Ministry of Commerce and Thai brands to jointly launch an “annual card” for Chinese consumers. Consumers who have bought the “annual card” will receive a wide range of Thai products throughout the year, including fresh Thai rice, seasonal fresh fruit, natural latex bedding, gift

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package for Thai New Year, travel package for Songkran Festival and so on. The products will be shipped directly from Thailand. Ebrun, 23 September 2015 http://www.ebrun.com/20150923/149930.shtml (in Chinese only)

Malaysia

E-commerce: Malaysian government invest in Indian online fashion retailer YepMe YepMe, an Indian online fashion retailer, has raised US$75 million from a funding round led by Malaysia’s state-owned fund Khazanah Nasional Berhad. The online retailer plans to use the fund to develop and introduce an ethnic Indian collection of clothes and to boost its brand image. It currently sets sights on tier-two and tier-three cities in India and sells approximately 500,000 items each month. Apart from selling its own apparel brands focusing on menswear and accessories featuring formal, casual, outdoor and party wear, YepMe also offers fashion items from other brands, targeting men and women in the 20 to 29 year age group. The company made inroad into the U.S. market in 2013 via setting up a self-operated online store (http://www.yepmeworld.com/ ) and establishing its presence on Amazon.com. Inside Retail Asia, 22 September, 2015 https://insideretail.asia/2015/09/22/yepme-raised-75-million-for-expansion/

Singapore

Statistics: CPI down 0.8% yoy in August 2015 Singapore’s consumer price index decreased by 0.8% yoy in August 2015, due mainly to a drop in prices of housing & utilities (down 3.6% yoy). By category, prices of communication, miscellaneous goods & services, healthcare, clothing & footwear, household durables & services and transport declined between 0.2% yoy and 2.3% yoy. By contrast, prices of recreation & culture, food and education gained between 0.4% yoy and 3.7% yoy in August 2015.

Singapore Department of Statistics, September 2015 http://www.singstat.gov.sg/docs/default-source/default-document-library/news/press_releases/cpiaug2015.pdf

Luxury: Boucheron makes debut in Singapore Boucheron, a Paris-based luxury jeweller, has recently opened its first store in Singapore to further its expansion in the Asian market. The debut store is located inside The Shoppes shopping mall at Marina Bay Sands. Prior to its entry to Singapore, the luxury jeweller has also set up two stores in Hong Kong, with one located on Pedder Street in Central and another at Ocean Terminal in Tsim Sha Tsui. Inside Retail Asia, 18 September, 2015 https://insideretail.asia/2015/09/18/boucheron-singapore-store-opens/ Boucheron’s official website, accessed on 21 September, 2015

http://cn.boucheron.com/en_cn/the-maison/history.html

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Fung Business Intelligence Centre The Fung Group is a privately held multinational group of companies headquartered in Hong Kong whose core businesses are trading, logistics, distribution and retailing. The Fung Group employs over 45,000 people across 40 economies worldwide, generating total revenue of more than US$22.6 billion in 2013. Fung Holdings (1937) Limited, a privately held business entity headquartered in Hong Kong, is the major shareholder of the Fung group of companies.

The Fung Business Intelligence Centre collects and analyses market data on sourcing, supply chains, distribution and retail. It also provides thought leadership on technology and other key issues shaping their future.

Headquartered in Hong Kong, FBIC leverages unique relationships and information networks to track and report on trends and developments in China and other Asian countries. In addition, its New York-based Global Retail & Technology research team follows broader retail and technology trends, specialising in how they intersect and building collaborative knowledge communities around the revolution occurring worldwide at the retail interface.

Since its establishment in 2000, the FBIC (formerly known as the Li & Fung Research Centre) has served as the knowledge bank and think tank for the Fung Group. Through regular research reports and other publications, it makes its market data, impartial analysis and expertise available to businesses, scholars and governments around the world. It also provides advice and consultancy services to colleagues and business partners of the Fung Group on issues related to doing business in China, ranging from market entry and company structure, to tax, licensing and other regulatory matters.

Contact Teresa Lam Vice President Asia Distribution and Retail

Fung Business Intelligence Centre 10/F LiFung Tower 888 Cheung Sha Wan Road Kowloon, Hong Kong

T: (852) 2300 2466 F: (852) 2635 1598 E: TeresaLam@fung1937.com W: www.fbicgroup.com

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