Lazada has just announced a new membership program called LiveUp, which will provide consumers a one-stop shop platform for shopping, transportation, delivery and entertainment services. This service has been launched together with Redmart, Uber, UberEats and Netflix, and is viewed by many as a pre-emptive move to Amazon’s highly anticipated market entry to the region.
This new service is aimed at the ‘online lifestyle natives’, according to Redmart CEO Roger Egan, a term used to refer to people who are time-starved savvy internet users and want affordable convenience. It makes sense, therefore, that the service will be launched first in Singapore, before any specific plans to expand to the other regions.
According to CBRE’s latest report on the retail real estate sector, Tokyo is the world’s hottest city for new retailer expansion, attracting 63 new retail brands, followed by Singapore with 58.
Domestic demand in Tokyo is expected to grow via the government’s initiative to attract more tourists to the country. In Singapore, food and beverage operators were among the most active in snapping up new real estate leases.
On a related note, retailers still substantial growth opportunities in the Asia Pacific region as 41% of American retailers continue to focus on the Asia region, while 79% of Asian retailers continue to target their own regions for further business expansion.
Navis Capital Partners Ltd. has agreed to buy control of Imperial Treasure Restaurant Group Pte, the Singapore company known for its “Super Peking Duck” eateries, a person with knowledge of the matter said.
The Malaysian buyout firm will pay S$60 million ($45 million) to S$80 million for a majority stake in Imperial Treasure.