Tag: Store opening

Singapore – Grab has recently announced the opening of its first physical merchant centre in Singapore in order to support local SMEs in their digital growth, as well as offering them a physical space for networking.

The Grab Merchant Centre, located in Grab’s one-north headquarters, is a one-stop shop for small and medium businesses (SMBs) looking to accelerate their growth in the digital economy through Grab’s services. 

This is the first-of-its-kind merchant centre among industry players in Singapore, and the first for Grab in Southeast Asia. 

Said centre first started as a merchant registration counter in April 2020 to help SMBs sign up and activate their Grab accounts during the pandemic. Today, it has evolved into a one-stop shop providing advisory services and solutions for SMBs.

Wee Tang Yee, country head of Grab Singapore, said, “Based on our latest Food and Grocery Trend Report released today, we know that consumers are increasingly reliant on platforms like Grab. This means that there are more opportunities for businesses to engage with them on our app.”

He added, “The Grab Merchant Centre is meant to help SMBs quickly and effectively tap into this growing opportunity through our tailored solutions. Having a permanent space for the SMB community enables us to serve them more efficiently, and gives them the confidence that Grab is there to support them whenever they need.”

Yee also explained, “The Grab Merchant Centre is also a place for SMBs to keep pace with the latest digital tools and practices. That way, they can confidently navigate and grow their businesses using our suite of self-serve digital tools in the GrabMerchant app. These include reading sales performance trends and insights to improve operations, advertising solutions to reach more customers and boost sales, digital lending products to support their business expansion, and more. We will continue to develop new products to provide more comprehensive support for businesses, and help them capture a bigger slice of the market.”

Mumbai, India – Global luxury brand Balenciaga has signed a strategic long-term franchise agreement with Reliance Brands Limited (RBL), the retail arm of Reliance Industries Limited, to officially launch its brand in the Indian market.

In this new partnership deal, RBL will serve as Balenciaga’s sole partner and will have exclusive rights to launch the brand in the country. This is RBL’s second partnership with parent group Kering, which houses the luxury fashion brand, among others.

The fashion brand’s first-ever standalone store in India is located at Mumbai’s Jio World Plaza and will house Balenciaga’s latest collection of men’s and women’s ready-to-wear, shoes, bags, accessories, eyewear, and jewellery.

As its first foray into the Indian market, the fashion brand’s store design follows its experiential raw architecture concept that’s conceived to question the nature of authenticity, leaving surfaces intentionally raw and adding evocative details like simulated corrosion or rough edges.

Since its inception in 1917, the global luxury brand has continued its vision through boundary-pushing collections, which have expanded to include women’s and men’s ready-to-wear, accessories, and objets d’art.

Darshan Mehta, MD at Reliance Brands Limited, said, “Few brands have actually embraced the opportunity for creative reinterpretation and reinvention quite like Balenciaga. Their avant-garde and ingenious creations, bold use of the logo, and consequent cult in the fashion industry have already created a strong footing throughout the world. It’s the most opportune time to introduce the brand to the country, as the Indian luxury customer has matured and using fashion as a form of creative expression of their individuality.”

Singapore – Indonesian on-demand coffee company Fore Coffee has announced the launch of its first store in Singapore, marking its entry into the international market scene. 

Fore Coffee’s expansion to Singapore is expected to open up the Indonesian coffee culture in the region. 

Drawing on insights from flavor group discussions (FGDs), the coffee company will tailor a selection of 16 key SKUs to capture the essence of Singaporean coffee culture. It will also adhere to the local nutrition preferences with the aim of empowering individuals to enjoy their drinks consciously while promoting healthier choices through its affordable and accessible diversity of options. 

Fore Coffee’s entry in the new market is also guided by research focusing on the Singaporean coffee landscape, in collaboration with strategy consultant Redseer. According to the research, the coffee market in Singapore is projected to grow at a CAGR of 5%, which means it will reach $1,286 million by 2027, presenting a compelling opportunity for the company to flourish. 

Furthermore, Singaporeans’ strong affinity for coffee, averaging 6-7 cups per week, aligns perfectly with Fore Coffee’s mission. The brand recognizes the mature coffee market in Singapore, combined with a love for Indonesian beans, particularly Arabica. 

Fore Coffee aims to redefine Singapore’s coffee culture in the ‘Indonesian way’ by extending their highly curated coffee beans and signature coffee blends to the new market. 

The brand’s business journey has been marked by profitability since 2021 in Indonesia, even amidst pandemic challenges. A part of its success lies in its adept use of cutting-edge technology, from tools to its mobile app, combined with skillful bean blending techniques.

Vico Lomar, co-founder and CEO at Fore Coffee, said, “Fore Coffee’s brand positioning and menu reflect its role as an ambassador of Indonesian coffee culture in Singapore. The brand’s signature coffee blends, crafted with a deep understanding of the discerning Singaporean palate, redefine the local coffee landscape through an Indonesian lens.”

Kowloon, Hong Kong – With the aim of increasing its store portfolio across the Asia-Pacific, Starbucks has announced its plans to open 400 new stores in the region in 2023 to serve additional communities in its major cities.

Starbucks also plans to build on its existing portfolio of over 300 stores across 40 cities in India by extending its footprint into at least five new cities. The company also targets expanding its stores beyond the metropolitan areas of Indonesia, Thailand, Malaysia, and the Philippines, as well as opening a new store in Laos. 

“Asia Pacific is a dynamic and diverse engine of growth for Starbucks globally. As recovery continues, the region achieved over 20% sales growth year on year, demonstrating the strength and relevance of the brand,” said Michael Conway, group president of International and Channel Development for Starbucks.

He also added that the company is well-positioned for further growth with its licensed business partners.

Moreover, the company has also unveiled its new store in Gwangyang-si, South Korea today, February 16, which marks its 5,000th store milestone in APAC. According to Starbucks, the new store has the latest digital features and technology and a new drive-thru store that offers customers on-the-go more convenience.

To this, Conway commented, “The opening of our 5,000th store in Asia Pacific reaffirms our commitment to bring the unparalleled Starbucks Experience to more customers in one of our fastest growing regions.”

Emmy Kan, president of Starbucks Asia Pacific also said, “That our 5,000th store in Asia Pacific is a drive-thru store speaks both to the changing habits of our customers, and of our determination to meet them where it is most convenient, while still offering the Starbucks connection.” 

She also added that the company will continue to enhance its store formats and innovate to cater to changing customer behaviours and fuel growth in the region.

Building on the welcoming ‘third place’ experience, Starbucks also plans to open more Starbucks Reserve stores across APAC to bring customers an ‘intimate, multi-sensory coffee experience’.

India – Tata Starbucks Private Limited is celebrating its 10 years with the opening of a Starbucks Reserve store in Mumbai, Maharashtra. Starbucks Reserve is a program by Starbucks, and involves operation of worldwide roasteries.

The new Starbucks Reserve store is designed to bring the coffee experience to life for customers. The premium coffee experience unique to Starbucks is evident in the new Starbucks Reserve store’s stunning aesthetics. Taking centre stage, the Starbucks Reserve bar is set off by renowned architect and artist Ankon Mitra’s undulating sculpture reminiscent of clouds. 

As customers enter beyond the twin arches, based on Mumbai’s architectural heritage with a modern colour palette, they are welcomed by a vibrant floor-to-ceiling mural featuring the Starbucks Siren, created by local Mumbai artists Sonal Vasave and Makarand Narkar. The mural comes to life at the tap of a finger through augmented reality (AR) when customers scan the nearby QR code with their Instagram camera.

At the Starbucks Reserve bar, customers can enjoy a lineup of Starbucks Reserve small-lot single origin coffees, some of the most exquisite and rarest coffees in the world, including Bolivia Sol de la Mañana, Rwanda Sholi and Sumatra Kerinci brewed and served by Starbucks black apron coffee masters.

Michael Conway, group president of international and channel development at Starbucks said, “India is one of Starbucks fastest-growing markets and we’re proud to open our first Starbucks Reserve store in Mumbai, where our Starbucks journey began a decade ago. Since entering India, our green apron partners continue to deliver the iconic Starbucks Experience across the market. We look forward to serving more customers and communities through different store formats, digital acceleration, and product innovation as we continue to grow in India.”

Meanwhile, Sushant Dash, CEO at Tata Starbucks, commented, “For 10 years, Starbucks has been elevating coffee craftsmanship and bringing unique experiences to our customers in India. We value the strong connections we have with our customers and will continue to innovate and develop to enhance India’s coffee culture.”

He added, “Starbucks Reserve is a selection of the rarest, most extraordinary coffees Starbucks has to offer, and transports customers and coffee aficionados to an immersive and personalised coffee journey. It is all about the customer experience and engagement, the story of our coffee and the craft of our baristas.”