GOME Retail Enters Agreements with GOME Fun and GOME Holding to Accelerate Strategic Transformation to All-round Retail Ecosystem Sharing Platform; Strives to Lead the “Home Living” Industry

GOME Retail Holdings Limited (HKEX stock code: 493, “GOME” or “the Company”, together with its subsidiaries, “the Group”) announced today that the Group entered into 11 agreements in various business sectors, through GOME Appliance Company Limited (“GOME Appliance”), its wholly-owned subsidiary, in respect of the continuing connected transactions of the Company with GOME Fun E-Commerce Co., Ltd. (“GOME Fun”) and GOME Holding Group Company Limited (“GOME Holding”). The 11 agreements include renewals and new agreements. All agreements have a term of three years commencing from 1 January 2022 up to and including 31 December 2024 (“Contract Period”). The establishment of the agreements will support the Group’s strategic transformation to an all-round retail eco-system sharing platform, steadily promote the in-depth implementation of the “Home Living” strategy, and integrate the supply chains and resources of the Parent Group and other members of the Parent Group to improve the Group’s operational efficiency.

Moreover, in order to improve capital efficiency, fully utilize the efficient investment opportunities, and facilitate the Group to build an all-round retail eco-system sharing platform, an indirect wholly-owned subsidiary of the Group entered into a RMB 900million Convertible Bond Investment Agreement with Beijing Pengrun Times Property Management Company Limited (“Beijing Pengrun”), which indirectly holds 100% equity interest of Anxun Logistics Co., Ltd. (“Anxun Logistics”). Please refer to the last two paragraphs of the article for more details.

Purchase and Supply Services Agreement
On purchase and supply services, GOME Appliance has entered into 2022 Master Merchandise Purchase Agreement and 2022 Master Merchandise Supply Agreement with GOME Fun to renew the previous merchandise purchase and supply agreement. Pursuant to 2022 Master Merchandise Purchase Agreement, during the Contract Period, GOME Fun will provide general merchandise (including but not limited to electrical appliances and consumer electronics products) to GOME Appliance upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB28 billion, RMB35 billion and RMB45 billion. Pursuant to 2022 Master Merchandise Supply Agreement, during the Contract Period, GOME Appliance will provide general merchandise (including but not limited to electrical appliances and consumer electronics products) to GOME Fun upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB30 billion, RMB40 billion and RMB50 billion, respectively.

The 2 agreements are expected to greatly improve the efficiency of the Group’s procurement of products, enable both parties to source products from their own or the other party’s suppliers, expand the scope of procurement to enrich product portfolios, therefore realizing a comprehensive integration and complementation of the online and offline merchandise and satisfying the demand of all potential customers. Moreover, the 2 agreements can ensure the Group to obtain products at the lowest cost possible and on better commercial terms through GOME Appliance or GOME Fun. The arrangement will also minimise the occurrence of shortage of products and achieve better cost optimization.

Logistics and Warehousing Services Agreement
On logistics services, GOME Appliance has entered into 2022 Logistics Services Agreement with GOME Fun and GOME Holding to renew the previous logistics services agreement. During the Contract Period, GOME Holding will provide logistics services (including delivery of general merchandise to end customers) to GOME Appliance and GOME Fun upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB900 million. On warehousing service, GOME Appliance has entered into First 2022 Warehouse Services Agreement with GOME Fun to renew the previous warehouse services agreement. During the Contract Period, GOME Appliance will provide warehousing services (including storage of general merchandise) to GOME Fun upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB900 million. Meanwhile, GOME Appliance has entered into Second 2022 Warehouse Services Agreement with GOME Fun and GOME Holding to renew the previous warehouse services agreement. During the Contract Period, GOME Holding will provide warehousing services (including storage of general merchandise) to GOME Appliance and GOME Fun upon request. The annual caps of the transaction amounts (excluding value added tax) shall not exceed RMB900 million.

The Group’s e-commerce platform has been developed rapidly in recent years. Its sales network has spanned across the PRC. Meanwhile, the Group is also expanding its physical store network to the third to sixth-tier cities. Therefore, the upgrade of logistic and warehousing services is necessary to enhance customers purchase experience. The 3 agreements will facilitate the integration of the extensive geographical network among three parties and enable customers to enjoy faster delivery service and better purchase experience which form a distinct competitive advantage of the Group. In addition to the delivery to end customers, the logistics and warehousing services also provide intra-Group logistics covering deliveries between warehouses, between stores and deliveries, from warehouses to stores, etc, providing strategic support to the Group’s e-commerce and physical store businesses.

Property Development Management Service Agreement
On property development management services, GOME Appliance has entered into 2022 Property Development Management Services Agreement with GOME Holding to renew the previous property management services agreement. During the Contract Period, GOME Holding will provide property development management services to GOME Appliance upon request. The annual caps of the transaction amounts (excluding value added tax) shall not exceed RMB300 million, RMB400 million and RMB500 million, respectively.

The Group owns properties in multiple regions in China which are intended to be developed into property complex comprising office buildings, stores, warehouses and logistics centers. As the Group lacks the technical expertise and knowledge to manage the development of such property projects while GOME Holding is experienced in managing the development of similar projects, therefore the agreement enables the Group to engage GOME Holding to provide property development management services to those property projects being developed by the Group.

General Service Agreement
On general services, GOME Appliance, GOME Fun and GOME Holding have entered into a new First 2022 Services Agreement and a new Second 2022 Services Agreement. Pursuant to First 2022 Services Agreement, GOME Holding and GOME Fun will provide services including technical services, platform services, software services, supply chain member services, value-added services, inbound marketing services and agent operation services, to GOME Appliance upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB8 billion, RMB12 billion and RMB15 billion, respectively. Pursuant to Second 2022 Services Agreement, GOME Appliance and GOME Fun will provide services including technical services, platform services and inbound marketing services, to GOME Holding upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB10 billion, RMB15 billion and RMB20 billion, respectively.

The 2 agreements will improve the Group’s operational efficiency, expand its business scale, empower itself and promote commodity trading by utilising the relevant resources, services and other support of GOME Fun and other sharing and joint development platform companies, so as to enhance the Group’s brand influence and improve its sales and profitability. Meanwhile, the rich experiences of GOME Appliance, GOME Fun and the Group in online and offline operation and sales can provide various supports including store opening, marketing, system services to GOME Holding in its businesses such as home decoration, home furnishing, logistics and warehousing, wine industry, etc.

Offline Display Service Agreement
On offline display services, GOME Appliance, GOME Fun and GOME Holding have entered into a new First 2022 Offline Display Services Agreement and a new Second 2022 Offline Display Services Agreement. Pursuant to First 2022 Offline Display Services Agreement, during the Contract Period, GOME Holding and GOME Fun will provide offline display services to GOME Appliance to showcase and display its products at the Parent Group’s offline platforms upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB800 million, RMB1.5 billion and RMB2.5 billion, respectively. Pursuant to Second 2022 Offline Display Services Agreement, during the Contract Period, GOME Appliance and GOME Fun will provide offline display services to GOME Holding to showcase and display its products at the Group’s offline platforms upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB1 billion, RMB2 billion and RMB3 billion, respectively.

The 2 agreements provide strategic support to Group’s transformation into an all-round retail eco-system sharing platform, boost the integration of online and offline platform whereby all online products will be displayed on offline platforms so as to provide users an online and offline full-scene shopping experience.

After Sale Service Agreement
On after sales services, GOME Appliance and GOME Fun have entered into a new 2022 After Sale Services Agreement. During the Contract Period, GOME Appliance will provide after sale and installation services to GOME Fun upon request. The annual caps of the transaction amounts (excluding value-added tax) shall not exceed RMB300 million, RMB400 million and RMB500 million, respectively.

The agreement will supplement GOME Fun’s after sale services and facilitate GOME Fun to build omni-linkage retail servicing capabilities, to continuously bring high-quality and convenient service experience to users.

Convertible Bond Investment Agreement
On 26 November 2021, Ningbo Pengxin Xingyu Information Technology Co., Ltd. (the “Subscriber”), an indirect wholly owned subsidiary of the Group, entered into a Convertible Bond Investment Agreement (the “Agreement”) with Beijing Pengrun (the “Issuer”) which indirectly holds 100% equity interest of Anxun Logistics. Currently Mr. Wong Kwong Yu, the controlling shareholder of the Company, indirectly owns approximately 80.5% equity interests of the Issuer through Rocket Gain Investments Limited and Beijing Wanshengyuan Property Management Co., Ltd which are wholly-owned by him and 19.5% equity interests held by the Subscriber. Pursuant to the Agreement, the Subscriber agreed to subscribe for an RMB900 million convertible bond at an interest rate of 5% per annum for a term of 5 years (the “Bond”) from the Issuer, with an option to extend for an additional period of 2 years subject to mutual agreement between both parties. During the term of the Bond, the Subscriber has the discretion to exercise the Option. Upon completion of the exercise of the Option, the Subscriber will hold 30.0% of the Issuer’s equity interests and the Issuer will be accounted as an associated company of the Company. The Issuer shall have the right to early redeem the outstanding balance of the Bond together with the interests accrued at any time after the third anniversary of the issue date subject to the Option not having been exercised.

The transaction will generate steady interest incomes to the Group, which will increase its profitability. In addition, the Option would enable the Subscriber to acquire further equity interests in the Issuer timely in future, which in turn owns Anxun Logistics which is expected to achieve rapid growth in the future. Anxun Logistics is a nationwide integrated logistics service provider covering 31 provincial-level administrative regions, regions, more than 700 prefecture-level cities and more than 2,800 districts and counties. It has completed distribution network for more than 42,000 fourth-tier townships across the country. Acquiring Anxun Logistics’s equity interests will further reinforce Group’s logistic ability, accelerate the Group’s strategic transformation towards all-round retail eco-system sharing platform and the implementation of the “Home Living” strategy, which is highly accordant with the Group’s development direction.

About GOME Retail Holdings Limited
Founded in China in 1987, GOME Retail Holdings Limited has been listed on the Hong Kong Stock Exchange since July 2004 (stock code: 493) and is a leading technology driven, experience-based, entertainment-oriented and socialized “Home Living” technology retail service provider. Under the guidance of the second phase of its “Home Living” strategy, GOME promotes online and offline integration with Internet technology, supports existing business growth with a strong supply chain, introduces new business with new scenarios, develops a post-service market with Internet of Things technology, drives the refined operation of stores with big data, enhances market competitiveness through network optimization, and raises the retail competitive barrier with strong service capability, and makes all-round efforts to transform from an appliance retailer to a provider of comprehensive “Home Living” solutions. GOME will continue to make use of technology and wisdom to create “authenticity”, “speed” and “joy”, and establish one of the most popular platform for entertainment-oriented selling and buying with sharing.

Please visit our website for more information: www.gome.com.hk






Topic: Press release summary

Sectors: Retail & eCommerce


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Building Trust, Strong Fundamental Business Model and Embracing Digital Solutions among Key Retail Trends at Recent Asia Retail Leaders Conference 2021, Organised by SMU RCoE

A total of 304 participants attended the Asia Retail Leaders Conference 2021 staged by the Retail Centre of Excellence at Singapore Management University on 17 November in Singapore.

SMU RCoE ARLC 2021 Speaker Panelist Session

The full day hybrid conference revolved around the current developments and challenges faced by the retail industry such as prolonged and rising disruptions to businesses from the pandemic, changing consumer behaviour and up-and-coming technological innovations. 10 industry experts from the retail sphere and academic shed light on the critical relationship between digital transformation, trends, insights and topical issues such as sustainability, in empowering retailers and attendees with the required knowledge to emerge from and thrive in the post-pandemic environment.

Technology that is aiding retailers to develop cost-effective omnichannel touchpoints with their customers has emerged as a critical factor to succeed in the rapidly evolving futuristic retail ecosystem. With the changed consumer’s shopping behaviour as a result of the pandemic, progressive technologies such as Augmented Reality (AR) and Artificial Intelligence (AI) have significantly altered the way brands engage with and sell to consumers.

“The shift to digital is here to stay and retailers should treat social channels like flagship stores. The role of store and online have blurred, which means retailers should bring the store experience online and the convenience of digital to stores,” said Via Abano, Product Marketing Manager, CPG and Retail, Facebook APAC. She added, “The shop and fitting room has moved to the living room and more consumers want runway presentations, messaging, and even virtual appointments with sales associates, all in the comfort of their living room.”

The pandemic has also brought on further challenges to retailers, such as disruptions to the supply chain, leading brands to rejig their production and fulfilment operations in order to meet burgeoning demands.

“We are seeing many brands having a higher degree of flexibility, which allows production in much smaller batches, while ensuring a higher level of proximity between the supply chain and the local market, highlighted Dr Shantanu H. Bhattacharya, Professor of Operations Management, Deputy Dean of Programmes, Lee Kong Chian School of Business, Singapore Management University. He added how “it’s made planning and scheduling of inventory more dynamic when compared to static supply chain policies in the past. Usage of text analytics and social media has converged with trending keywords and products linked to those keywords, identified and mapped in real time”.

Beyond using social channels for advertisements, brands and retailers have expanded their touch points to sell directly to consumers and engage with them to build trust and loyalty, with these two qualities increasingly growing in importance for retailers to thrive.

“Digital commerce has rapidly accelerated and will continue to evolve and expand beyond what we can imagine as consumers continue to have a higher baseline expectation” said Peng Chun Hsien, Vice President, Merchant Sales & Acquiring, Asia Pacific, Visa Worldwide, “Businesses that go the extra mile by providing a delightful fulfilment experience, as well as a comprehensive or loyalty programme will deliver something that customers all look for in the long run.”

Consumers have become more aware of retailers’ impact on sustainability and increasingly, factor in a brand’s values when making their purchasing decision. It was also a discussion point that Nejla Matam-Finn, Co-founder of THE FIFTH COLLECTION weighed in on, “The adoption of the second-hand economy has the potential of becoming bigger than fast fashion, as more people are going to be transacting higher values in second-hand clothing.” She further highlighted that “Sustainability is not a choice anymore. It is going to happen when the resale industry surfaces in the fast fashion industry”.

Closing out the conference was the finals of the Inter-Varsity Retail Challenge which saw over 40 submissions from Singapore’s local universities. The top three teams presented their case study and proposals to the judges, tackling issues facing retail brands – Pomelo, Uniqlo and Decathlon. The winning student group SYD, and two shortlisted teams walked away with cash prizes and most importantly, a valuable learning experience of the retail industry in Asia.

About Asia Retail Leaders Conference 2021

Asia Retail Leaders Conference explores the possibilities and opportunities in combining digital and physical engagement creatively to deliver a sense of fun and excitement every time a consumer shops online or in-store. New digital trends and innovations have come into play in a big way, pivoting us towards a brighter post-pandemic era in retailing. This year’s theme ‘Pivot or Perish’ looks into digitalisation and its adoption to meet changing shopper habits which were further accelerated by the pandemic to help retailers adapt their business and harness the power of technology to thrive in the new normal.

For more information, please visit Asia Retail Leaders Conference 2021 https://site.smu.edu.sg/asia-retail-leaders-conference-2021#arlc2021

About SMU Retail Centre of Excellence

The Retail Centre of Excellence was officially launched by Ms Sim Ann, Senior Minister of State, Ministry of Culture, Community and Youth, and Ministry of Trade and Industry on 10 October 2017. Helmed by SMU Professor of Marketing Kapil R. Tuli, the centre is joined by a group of Founding Members comprising DFS Venture, DBS, Decathlon, Microsoft, Harvey Norman, IKEA, Popular Holdings, Tiffany & Co. and Visa. It is the first retail insight-sharing hub in Singapore focusing on generating and disseminating actionable knowledge for retailers in Singapore, Asia and beyond.

Based in the Lee Kong Chian School of Business of Singapore Management University and supported by the Economic Development Board and Enterprise Singapore it is the first retail insight-sharing hub in Singapore focusing on generating and disseminating actionable knowledge for retailers in Singapore, Asia and beyond. The centre aims to empower retailers with the know-how through research and insights, and build an ecosystem comprising retailers, retail experts, knowledge & industry partners, SMU faculty and student talent.

Supported by
Economic Development Board
Enterprise Singapore

For media queries, please contact
Email: smurcoe@preciouscomms.com
Tel: +65 6303 0567


Topic: Awards

GOME Retail Enters into a Framework Agreement with GOME Management to Provide Management Services

GOME Retail Holdings Limited (HKEX stock code: 493, “GOME” or “the Company”, together with its subsidiaries, “the Group”) announced today that the Group entered into a Framework Agreement with GOME Management Limited (“GOME Management”) which is wholly owned by the controlling shareholder of the Group (“Controlling Shareholder”). The Group will provide management services to five subsidiaries of GOME Management, namely GOME Eco-net Technology Holding Limited (“GOME Home”), Hainan Haisi Enterprise Management Co., Ltd. (“Sharing and Joint Development”), Hainan Beizhi Enterprise Management Co., Ltd. (“Home Decoration”), Rocket Gain Investments Limited (“Anxun Logistics”) and Zhongmaixiu (Ningbo) Technology Co., Ltd. (“GOME Collections”) (collectively, the “Target Companies”) for a period of three years from 1 January 2022 to 31 December 2024.

Pursuant to the Framework Agreement, the Group will provide management services to the Target Companies, including, without limitation, the provision of (i) business management services and training for business management improvement, (ii) training for employees of the Target Companies in relation to management systems, processes, methods and sales skills; (iii) recruitment services of experienced personnel to operate the business; (iv) upon request by the Target Companies, business-related training, assistance and advice, or referral of independent consultants; (v) advice to the Target Companies to develop and improve their business and to provide updated trainings to the Target Companies and their staff from time to time; (vi) advice on the standard business contracts to be used by the Target Companies in the course of business; and (vii) other services as may be agreed between the Target Companies and the Group from time to time.

Pursuant to the Framework Agreement, the Group charges an annual service fee for the provision of management services to each Target Company, which is calculated at a fixed progressive percentage (ranging from 1% to 3.5%) of the consolidated annual operating revenue of the relevant Target Company. Based on the above calculation, the maximum aggregate amount of management fees for three years is up to RMB 2.8 billion. In addition to the annual service fee, the Group will be entitled to receive equity incentive, representing in aggregate up to 10% equity interest in each Target Company as of the due date of the Framework Agreement over the term of the Framework Agreement at nil consideration. Moreover, the Group has also been granted with the option, exercisable in one or more occasions at any time during the three years ending 31 December 2024, to purchase up to 30% equity interest in the relevant Target Company at a valuation representing an agreed percentage discount (ranging from 40% to 50%) of the market valuation of such Target Company at the time of exercise. In the event of any increase in the registered capital of any Target Company or equity transfer of any Target Company to any third party, the Company shall have the right of first refusal.

As a leading home living technology retail service provider in the PRC, with a particular focus on technology, experience, entertainment and socialization, GOME Retail has substantive experience in the management and operation of offline and online retail stores, supply chains, logistics, big data and etc. In the second phase of “Home Living” Strategy, the Group focuses on the retail and home services industries. It has established a new omni-linkage, omni-mode and full-retail business model through innovation of the industry model and technological empowerment of the online and offline platforms as the breakthrough. The Group can satisfy the consumption and service needs of household users in every aspect and allow them to enjoy products and services with better quality at lower cost, through the marketing strategy with entertainment as the core and business strategy with high-quality, low-cost, service and technology as the core. The strategic development direction of the Group is also highly consistent with national policies. As the PRC is shifting its focus on “Common Prosperity” for its current development concept and emphasizing “Dual Circulation” growth on economic strategies and quality development, it becomes clear that the macro policy place more attention to the public livelihood and consumption. This year, related policies such as promoting new consumption, encouraging living convenience and benefiting the people, supporting rural revitalization, and advocating fair competition have been introduced one after another, which has provided a continuous and positive external environment for the Group’s current promotion of further implementation of the second phase of the “Home Living” strategy.

In order to build a strategic closed-loop ecosystem and deploy an omni-linkage, omni-mode and full-retail development while avoiding operational risks and future capital investment, etc., the Group has negotiated with the Controlling Shareholder. Both parties agreed to entrust the Group to manage the Target Companies. The Target Companies encompass various home living business areas including the “one store with multiple functions” offline store display, home decoration, home furnishing, logistics and delivery, and wine. The principal businesses of the Target Companies are highly consistent with the Group’s “Home Living” strategy and cooperation between the parties is expected to generate a good synergy effect. Firstly, the cooperation between the Target Companies and the Group’s business is expected to increase the Group’s traffic significantly and bring considerable operating revenue to the Group, realizing a mutual-benefiting distribution model. Secondly, through the entrusted management of the Target Companies, the Group shall be able to optimize its full supply chain, boost its sales significantly and further reduce its costs by grid-based network and digitization through online and offline integration, which in turn benefiting the customers and suppliers, further increasing the number of merchants and members of the Group, and opening up a broader platform and resource network.

The entrustment of management services enables the full connection and integration of systems between GOME Retail and the Target Companies, thus the Group shall be upgraded from a supply chain-driven company to a platform-based company with supply chain capacity, which is advantageous to the surge and optimization of the Group’s overall market valuation. Meanwhile, the five Target Companies are in fast-growing industries and are expected to achieve the performance targets. In addition to the service fee, the Group will be also entitled to equity incentive and option to acquire 30% equity interest with the right of first refusal throughout the entrustment period. The above benefits are expected to significantly boost the Group’s market valuation. Among others, the Controlling Shareholder has given the Group a relatively large discount based on the valuation of the Target Companies in terms of option, enabling the Group to acquire up to 30% equity interest of the Target Companies at discounted prices, and the opportunity to receive high future yields of the fast-growing industries, as well as to enjoy excess earnings at no cost subject to certain conditions.

In addition, the Framework Agreement is expected to greatly improve the Group’s ability to obtain customer traffic at a high efficiency with low cost. The Group and the Target Companies will consolidate and establish a low-cost customer traffic pool via the online “One Page, One Store” model, offline exhibition halls and provision of local life services, etc., hence significantly lowering the Group’s costs of attracting traffic as compared to the industry standard. The integration of online and offline platforms enables B-end suppliers to avoid vicious competition caused by unclear position and the expenditure of duplicative and ineffective costs for online and offline platforms, thereby reducing costs and increasing efficiency. As a result, the profits obtained from the saved cost through omni-linkage optimization can be mutual-benefiting among consumers, suppliers and retailers. Looking ahead, GOME Retail will continue to act proactively to forge a new technology retail and consumption service platform to serve the needs of the country, the industry and the public, thus creating greater value for the community and shareholders.


Topic: Press release summary

Sectors: Retail & eCommerce

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From the Asia Corporate News Network

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Domestic Retail and Wholesale prices of edible oils dropped in India except that of Mustard Oil

While international prices of edible oils are soaring, the domestic market has reported a declining trend in prices with exception, informed Department of Food and Public Distribution (DFPD).

Source – DoCA/SEAI

    Though the international prices of edible oils have gone up in the range of 1.95% to 7.17% after the import duty reduction, the decreasing trend in domestic prices and net effect (ranges for 3.26% to 8.58% declined) after duty reduction is quite substantial. Necessary policy intervention by Central Government with reference to duty reduction is proving to be beneficial for the general consumers.

  International Prices of Soyabean oil, Sunflower Oil, Crude Palm Oil and RBD Palmolein increased by 1.85%, 3.15%, 8.44 and 10.92% respectively over the month. After the import duty reduction (w.e.f. 11.09.2021) on imported edible oils, domestic retail and wholesale prices reduced in the range of 0.22% to 1.93%. However, Mustard Oil is purely domestic oil and its prices are expected to soften with number of other measures the Government is contemplating.

 Similarly, the wholesale and retail price of Wheat decreased by 5.39% and 3.56% respectively over the year. Wholesale price of Rice decreased by 0.07% while retail price of rice increased by 1.26% over the month.

The Wholesale and Retail prices of Wheat decreased by 7.12% and 4.37% respectively over the year.

     Despite the fact that MSP for Rice & Wheat has gone up (from Rs. 1868/Qtl. to Rs. 1940/Qtl. for Rice and from Rs. 1925/Qtl. to Rs. 1975/Qtl for Wheat) the price of rice and wheat has decreased in the market which is a comforting factor for consumers.

Notably, as on 06.10.2021, taking the reference as on 17.5.2021, the retail prices of gram, tur, urad and moong decreased by 1.08%, 2.65%, 2.83% and 4.99% respectively.

Regarding prices of Onion, Potato and Tomato, the All-India average retail prices of potato decreased by 44.77% over the year.

The All India average retail prices of onion decreased by 17.09% over the year.

The All India average retail prices of tomato decreased by 22.83% over the year.

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DJN/NS

(Release ID: 1762189)
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Pacific Retail Capital Partners kicks off CosmeCon by opening submissions for small business grant

13 PRCP properties nationwide to host local events throughout September, starting with a RETAILBOSS panel

LOS ANGELESSept. 1, 2021PRLog — Pacific Retail Capital Partners (PRCP) is kicking off CosmeCon 2021 by opening submissions for a small business grant. In partnership with RETAILBOSS, the small business grant will be announced on Friday, September 3 during a free, virtual, industry panel discussion that will be the first of fourteen CosmeCon events in September.

CosmeCon is one of Pacific Retail’s signature annual programs produced locally by Pacific Retail properties. In its third year, CosmeCon cultivates omnichannel experiences for local and international beauty brands and fosters community conversation on wellness and empowerment. This year, PRCP will be awarding one beauty industry business with a $2,000 check and a Consultation Package with Pacific Retail executives in Marketing, Leasing, and Operations on launching or scaling a retail business. The grant is open to all small businesses in the beauty, wellness, and cosmetics sectors.

Applications for the small business grant will open after the industry panel discussion “Grow Your Business in Shopping Centers,” on September 3. The RETAILBOSS event, presented by PRCP, will include a panelist discussion followed by live Q&A. The discussion will focus on running an omnichannel business, what it takes to operate a pop-up shop or brick-and-mortar location, types of shopping center lease options, the value of creating meaningful connections with e-commerce customers, ways shopping center marketing teams support tenants, and insider secrets from some of the best women in the business.

“Attendees will learn so much about opening and operating a business in shopping centers,” said Sweeney Mae Moninola CMD, Marketing and Business Development Manager at Plaza West Covina. “The panelists will demystify any hurdles that may be holding e-commerce retailers back from growing their businesses in shopping centers. This is an event that retailers of all sizes shouldn’t miss!”

Panelists include Najla Kayyem, Executive Vice President of Marketing at Pacific Retail; Cynthia Czech, Senior Vice President of Local Leasing & Business Development at Pacific Retail; Anne Mezzenga, Omni Talk Co-CEO; Liza Amlani, Principal of Retail Strategy Group; Melody Bockelman, Owner of Private Label Insider; and Jeanel Alvarado, CEO of RETAILBOSS and host of the event.

In addition to the panel and small business grant, thirteen PRCP properties will be hosting local CosmeCon 2021 events throughout the month of September. West coast PRCP properties include Eastridge Center, Paseo Nuevo Shops & Restaurants, The Shops at Montebello, Plaza West Covina, Parkway Plaza, and The Shops at South Town. Central PRCP properties include Yorktown Center, Franklin Park, Great Northern, Belden Village, Southlake Mall, and Northpark. East coast PRCP properties include Colonie Center and Crabtree Valley.

“Experience initiatives have reemerged as a key element to any marketing strategy in today’s environment,” said Najla Kayyem, PRCP Executive Vice President Marketing. “It’s been refreshing to see the local marketing teams embracing innovative ideas, local business and programming efforts with community in mind.”

To register for the free virtual industry panel on September 3, apply for the small business grant, or find a local CosmeCon in-person experience, visit https://cosmecon2021.com/.

About Pacific Retail Capital Partners

Pacific Retail Capital Partners (PRCP) is one of the nation’s premier retail operating groups of large open-air and enclosed shopping centers, with more than $3 billion in retail assets presently under management in the United States. Based in Southern California, PRCP provides end-to-end sourcing, assessment, underwriting, valuing, developing, and asset management of retail real estate with a proven track record of repositioning properties. PRCP strategically manages over 20 million square feet of retail destinations. The executive team has over 175 years of collective real estate expertise in leasing, marketing, operations, design, development, investment, and finance. With a keen focus on enhancing the value and quality of its growing portfolio, PRCP is dedicated to creating a unique, strategic vision for each property and exceeding the highest expectations of retail investors, retailers, and consumers.

To learn more, visit pacificretail.com (http://www.pacificretail.com/) or follow social media at: Facebook: facebook.com/pacificretailcapitalpartners (https://www.facebook.com/pacificretailcapitalpartners)

Instagram: @pacificretail (https://www.instagram.com/pacificretail)