Fast Retailing Profit

Here’s what you should know today:

1. Singapore-based Tyrepac entered Thailand

Singapore-based online auto tyre retailer, Tyrepac has made a foray into the Thai market via a partnership with Toyota Tsusho. Thailand is the fourth country that Tyrepac has entered.

Launched in 2008 in Singapore, the company is Asia’s first and largest online tyre retailing website focusing only on car tyres. Thailand’s efficient ecommerce logistics infrastructure make it the right destination for their expansion.

According to Takahiro Arai, General Manager of Toyota Tsusho APAC, the country’s tyre market see about 15-20 million tyres replaced annually or 1.5 million per month.

Read the full story here

2. Uniqlo’s operator Fast Retailing Co recorded 69.1% profit rose

Fast Retailing Co. said on Thursday its consolidated September to May net profit rose 69.1% from a year earlier to 120.11 billion yen ($1.1 billion) driven by cost-cutting and overseas sales.

“The ratio of operating profit to sales in China, South Korea and Southeast Asia are almost equivalent to that in Japan and it’s even higher in some countries. (The Asian region) is becoming the pillar of growth,” Chief Financial Officer Takeshi Okazaki said.

The group kept it earnings forecast intact for the business year through August, projecting a net profit to more than double to 100 billion yen or $881 million.

Okazaki add that ecommerce sales are likely to be the growth driver going forward.

Read the full story here

3. Recommended Reading: eBay ShopBot know what you like and feeds you trendy suggestions

Japjit Tulsi, VP of Engineering at eBay, explained some of the machine learning characteristics of the well-known bot, which debuted in October 2016 on Facebook Messenger.

With ShopBot, users can browse curated suggestions but almost seems like there is a human agent sending the suggestions. AI in the ShopBot also “remembers” you, including your size and brands preference. This is the example of how shopping general will change in the next few years as ecommerce keep expanding.

“Our goal is to build an AI platform that enables truly personalized shopping and provides a service that is better than what the best human sales assistants can offer customers today,” he added.

Read the full story here

Share Your Opinion