Here's what local news sources are reporting about retail property in the Asia-Pacific region:
• Yum Brands to spin off China stores — Reuters via Entrepreneur Yum Brands Inc plans to separate its China business from the rest of the company. The new entity, Yum China, will be publicly traded and act as a franchisee of the KFC, Pizza Hut and Taco Bell brands in mainland China. Yum Brands entered China in 1987 with KFC and has been a big sales driver for the retailer in the past. But the business has struggled in recent years, dragging the overall company down and causing Yum's activist shareholders to demand a spin-off.
• Canadian pension funds target Asian investments — Asian Pacific Post More Canadian pension funds are seeking high-quality Asian commercial real estate developments to fund. In August, the Canada Pension Plan Investment Board made its first direct real estate investment in south-east Asia, contributing C$170 million ($130 million) to a venture with Malaysia’s Pavilion Group to build a mixed-use centre in Kuala Lumpur.
• In Australia, Costco aims for Coles, Woolworth customers — International Business Times Costco only has seven stores in Australia, but it is fast becoming a threat to supermarket stalwarts Woolworths and Coles. Costco's low prices and more diverse inventory will put pressure on the two Australian chains, which control 70 per cent of the country's grocery industry, to upgrade stores and innovate more.
• Indian consumers buy more holiday gift cards — The Hindu Gift vouchers or pre-loaded gift cards are catching on among Indian consumers with most shoppers buying gift cards in the Rs. 1,000 ($15.35) to Rs. 2,000 ($30.70) range. Retailers are taking advantage of the trend.
• China retail sales up in September — Shanghai Daily China's retail sales grew 10.9 per cent year on year in September, reports the country's National Bureau of Statistics. That's a slight improvement from August's 10.8 per cent growth.
• Aeon opens Thai mall — Bangkok Post Japanese retailer and developer Aeon Group opened its first new centre in Thailand since 1997, the $8.5 million Aeon Sriracha, in Chon Buri.
• Australia: Woolworths to sell 6 centres — Sydney Morning Herald Supermarket chain Woolworths wants to raise $180 million through sale and leaseback transactions on six shopping centres anchored by its stores throughout Australia. The six Woolworths-anchored properties marked for sale are located in Seville and Selandra Rise in Victoria; Cornubia in Queensland; Mandurah and Dalyellup in Western Australia; and Bakewell in the Northern Territory.
• Black Friday draws tourists to South Korea — Bloomberg More than 34,000 stores participated in South Korea's version of the U.S. shopping sensation known as Black Friday. The government-sponsored, two-week sale saw price cuts of up to 80 per cent at participating chains. The country's retailers have been hurt by declining tourism.
• Starmalls, Vista Land could merge — Business World Online Philippines-based mall operator Starmalls Inc. could merge with the country's largest residential developer, Vista Land & Lifescapes, says Manuel Villar, who happens to be chairman of both companies.
• Decathlon ramping up India store investments — Live Mint French sporting goods chain Decathlon has increased the amount of capital set aside for expansion in India, according to regulatory filings. The company, which opened its first India store in 2009, has grown its store count in India to 24 stores. Another 12 Indian stores will open by the end of 2015, the company says.
• 'Konbini' competition heating up in Japan — The China Post Competition is getting fierce between Japan's top 'konbini' convenience store chains. The sector's 55,000 stores see 1.5 billion customers every month. The largest chain, 7-Eleven, aims to constantly add new merchandise and services to its offering to stay ahead of rivals.
• Brooks Brothers forms venture to open more Asia stores — Apparel Magazine U.S. apparel band Brooks Brothers Group, Inc. will team up with Lane Crawford Joyce Group subsidiary Walton Brown Group to open Brooks Brothers stores throughout China, Hong Kong, Macau and Taiwan, and to launch an e-commerce operation for the region. The 50/50 venture will take over management of Brooks Brothers' existing 90 stores in Asia and will add 10 new freestanding stores within two years.
• Healthy Options growing in Philippines — The Philippine Star Entrepreneur Romy Sia's Healthy Options natural foods chain launched 20 years ago in Manila. Now, the retailer operates 25 stores nationwide and is expanding its footprint as more local consumers get concerned about nutrition.
• Melbourne: Mall's ticketless parking system under fire — Herald Sun Indooroopilly Shopping Centre is home to one of Australia's most technologically advanced ticketless parking systems, but shoppers say the system has hidden costs.
• India: SRS cinema chain plans 100 screens by 2017 — The Economic Times New Delhi-based SRS Cinemas plans to open 100 new theatres in the next two years, with forays into southern and western India cities such as Hyderabad, Bengaluru and Chennai. "We are looking at a cluster based approach and having 12-15 screens in every cluster," said Tinku Singh, group president and chief strategy officer at SRS Group.