Coty Inc | August 03, 2022
Coty Inc. (NYSE: COTY) ("Coty"), one of the world’s leading beauty companies and global leaders in fragrance, has officially signed the Global Travel Retail Joint Business Partnership with Ant Group to enhance the cooperation in digitalization. The agreement means that Coty will be the first beauty company to reach the strategic partnership in travel retail to support digital platforms like Alipay and other digital payment methods at a global level through Alipay+, a suite of global cross-border mobile payments and marketing solutions operated by Ant Group.Based on the partnership, Coty will continue expanding the travel retail business through the digital operation powered by Alipay+, by creating comprehensive and diversified brand campaigns via Alipay and other payment platforms, and offering more customized consumer experience with higher quality and efficiency. This strategic partnership will extend from China to a wider area of APAC, and furtherly to Coty’s global travel retail market.
In the past year, Coty's travel retail business saw an outstanding performance. The traffic and sales of brick & mortar retail stores in Hainan saw strong growth with the help of digital operation, and the duty-free business in China achieved a triple-digit growth.
Digital operation is a clear strategic focus for Coty Travel Retail to innovate online and offline shopping experiences with a traveler-centric approach. Alipay, as a leading digital open platform leveraged by over 80 million businesses serving more than 1 billion consumers, is a valuable partner of Coty to co-create the future of beauty by innovative marketing capabilities and digital payment solutions. Since 2021, Coty has partnered with Alipay together on a series of travel retail activations, including Lancaster Super Brand Day, fragrance annual award, and had “Travel Around World” campaign debut in June.
"The cooperation with Ant Group in digitalization will help us serve our customers better In the future, Coty and Ant will continue to work together to explore more possibilities of digital channels to improve consumer experience. We will also aim to deliver better services and products to more consumers around the world on their travel journey, and let them enjoy a better, more convenient and sustainable future."
-Caroline Andreotti, Executive Vice President of Coty's Global Travel Retail Business, remarked at the signing ceremony.
With the signing of this agreement, Coty will go forward hand in hand with Ant Group to boost the development of digital service as well as the travel retail business, and will continue to develop more in-depth cooperation in an all-round way, across precision marketing, omni channel activations, and digital payment solution.
Coty's travel retail department is bringing the global iconic brands and tourists’ most favorable regional brands to travel retail channels, covering prestige and consumer brands, to build a matrix that include three product categories – fragrance, makeup, and skincare. At the present, the brands that Coty’s travel retail department is operating in Asia Pacific market include: 2-axis beauty brands (covering makeup and fragrance) -- Gucci beauty and Burberry beauty; the fragrance category -- Chloe, Tiffany, Miu Miu, Marc Jacobs, Calvin Klein; and the skincare category, of which, Lancaster, founded in Monaco in 1946, is a representative among the iconic high-end skincare brands.
The skincare category, in particular, has grown exponentially in Asia and represents a huge growth opportunity for Coty Travel Retail. By launching Lancaster with an Asia-focused product line-up, Coty targets to become an even stronger global player in skincare. It features new merchandising designs and offers the Asian consumers effective, sophisticated, safe, and sustainable personal care products customized to fit their regional needs. The key markets for this new product line-up are China, Korea, Thailand, and India focusing on the key markets for the category in the travel retail industry and a strategic vector of growth for the company .
Till now, Lancaster has set up four brick & mortar retail stores in Hainan and launched an official mini program on the Alipay platform, injecting a booster into the skincare business expansion of Coty in APAC.
With innovative technologies and solutions, Alipay+ brings an easy way to capture digital-first customers and makes it more convenient for merchants to serve hundreds of millions of users of leading digital payment service providers. Especially, through a one-stop integration and simple technical adaption, merchants can access all existing and later-onboarded digital payment methods brought by Alipay+. Moreover, Alipay+ can help merchants further extend the reach of potential users through its rich marketing campaign solutions.
Facing the impact and challenge caused by the COVID-19, Alipay+ has been working with brands since 2020, to find a way out for the travel retail industry in the post-pandemic era. With the comprehensive understanding of brand business, Alipay+ is making efforts to empower digital operation and transformation of business partners, and to improve consumers’ shopping experience with its payment and marketing solutions.
About Coty, Inc.
Founded in Paris in 1904, Coty is one of the world’s largest beauty companies with a portfolio of iconic brands across fragrance, color cosmetics, and skin and body care. Coty serves consumers around the world, selling prestige and mass market products in more than 130 countries and territories. Coty and our brands empower people to express themselves freely, creating their own visions of beauty; and, we are committed to creating our own positive impact on the planet. Learn more at coty.com or on LinkedIn and Instagram.
About Ant Group and Alipay+
Ant Group aims to create the infrastructure and platform to support the digital transformation of the service industry. It strives to enable all consumers and small and micro businesses to have equal access to financial and other services that are inclusive, green and sustainable. Ant Group is the owner and operator of Alipay, the leading digital platform in China serving hundreds of millions of users, and connecting them with merchants and partner financial institutions that offer inclusive financial services and digital daily life services such as food delivery, transport, entertainment, and healthcare. Ant Group has further introduced Alipay+, a suite of global cross-border mobile payments and marketing solutions which enables merchants, especially small and medium-sized businesses, to better serve consumers from all over the world by collaborating with global partners.
TRAVEL TECHNOLOGY,INDUSTRY OUTLOOK
Trip.com | August 10, 2022
The global travel rebound continues apace this summer, with global air traffic reaching almost 70% of pre-pandemic levels in May and international hotel occupancy rates achieving the same in April. Yet, against the backdrop of an increased appetite for travel driven by more than two years of pent-up demand, getaways over the summer months are likely to be affected by supply chain issues at airlines and airports, fully booked hotels and rising costs of accommodation and car hire.In the UK, travel chaos has dominated the headlines since springtime, with flight cancellations and long wait times, passenger caps and even a suspension on short-haul ticket sales threatening the chance of a summer holiday. In the US and Europe, the picture is equally fraught, and in Asia, recovery is fractured, with Southeast Asia and the Middle East recovering well, where China and South Korea are recovering at just 15% of pre-pandemic levels due to travel restrictions and COVID-19 outbreaks alike. As such, when customers should be getting excited about quality time with friends or family, relaxation and culture, they are now braced for uncertainty.
At Trip.com Group, we are committed to helping our customers take the perfect trip, and this summer is no different. In a world where the travel landscape is increasingly complicated, our Trip.com platform has a range of products and partnerships in place to ease traveller concerns. Combined with our leading customer service, Trip.com aims to ensure everyone has a summer holiday to remember – for all the right reasons – this year.
Trip.com Group's Pre-Travel Protection and Cost-Saving Products
Earlier this year, Trip.com expanded on its travel insurance product offering in collaboration with AXA Partners. Made available to UK customers since September last year, this insurance product was extended to travellers across Europe earlier this year and can be easily selected when booking a flight on Trip.com. This travel insurance option provides a variety of benefits including medical, cancellation and baggage cover, as well as protection against cancellation and medical costs if a customer contracts COVID-19. With travel restrictions in place in many countries across Asia and beyond, this product is still incredibly useful in terms of providing ample traveller protection and peace of mind.
In mainland China, our Ctrip platform introduced its TripTour2Day upgrade service, offering free refunds on group tour products cancelled up to two days before departure. Users simply click on the order details page to obtain a one-click refund in as little as one minute on products with the TripTour2Day label.
A week after the TripTour2Day product was launched, sales exceeded 20 million, which proves how vital these products are in terms of offering customers total peace of mind. With many travellers in China harbouring concerns about whether COVID-19 measures would interfere with their plans, this allows users an increased level of flexibility when booking their next trip.
"The TripTour2Day service upgrade shortens the threshold of a free refund from seven days or longer to just two days, giving every Ctrip user a better experience in terms of both booking and opportunity to refund. You can customise your travel needs at your own pace and join a tour with peace of mind,"
-Trip.com Group Tour Business CEO Wen Jiang.
In addition to providing protection-based products, Trip.com is also helping guests to get the best value on their next getaway. As the costs of travel rapidly increase, customers are frequently looking for the best deals in order to maximise the return on their investment. By partnering with Hopper Price Freeze on our European and US sites, Trip.com is offering customers added protection against travel price volatility. For a small upfront fee, Trip.com users can freeze a flight price for up to 14 days, giving them the chance to confirm plans with their travel companions before booking without having to worry about an unnecessary price rise. Price Freeze ensures that customers never lose out, because if a Trip.com user freezes a flight and the prices go up, the difference is covered up to a set amount. If the price goes down, the user pays that lower price.
Yudong Tan, CEO of the Flight Business Group, Trip.com Group commented, At Trip.com Group we are constantly seeking out ways to bring benefits to travellers. With this new Price Freeze feature, powered by Hopper, we are giving our customers more ways to save money when they book flights.
Dedicated Customer Service
Since the beginning of 2020, Trip.com's Customer Service team has been put through its paces, handling complex requests to support our users during some of the most testing times - and we continue to develop tech-focused Customer Service solutions today.
Our intelligent storage auto-expansion technology has been upgraded to allow our systems to manage call levels more than 10 times higher than our average, and we developed an AI-centric mechanism to recognise and prioritise the most urgent customer cases, directing these calls to a staff member as quickly as possible. While speaking with a Customer Service agent, our assistant tool helps agents by automatically labelling and categorising requests in real time, saving customers time and energy while solving problems quicker than ever before.
Our chatbot service also makes use of AI technology to automatically identify trending information in real time based on the most up to date COVID-19 policies and frequently asked questions, updating the FAQs on a daily basis and allowing customers to self-solve over 70% problems without having to hold for a Customer Service agent. The chatbot can also route requests directly to your hotel or airline, helping customers do everything from requesting a confirmation email to rescheduling a flight in the event of extreme weather conditions.
In addition, Trip.com also launched its Customer Service Pledge in November 2021, committing to six key pillars including 24/7 support and free in-app calls. Grace Ding, Head of Trip.com's Global Customer Support Centre commented We are proud to see one of our companies make a pledge towards maintaining an incredible level of service to ensure people can continue to travel stress-free.
With an average customer satisfaction rate of 90% in 2021, Trip.com is ready to support customers quickly and efficiently with any issues they face while travelling this summer.
Delayed Baggage Protection
As global lost luggage becomes a particularly problematic issue, Trip.com's Blue Ribbon Bags delayed baggage protection service also helps to remove the stress from summer travel. With this initiative, Trip.com users will be able to safeguard their checked luggage against any delays during transit.
Commenting on the new service, Lyrics Zhao, Director of Product and Business Development in the Flights Business at Trip.com said, "Trip.com strives to make travel worry-free and relaxing for all. We want the booking experience to be the beginning of a relaxing trip and to offer value added services to the passenger."
"Our service provides air travellers with confidence that if their checked-in baggage does not arrive at the destination airport, we will coordinate and expedite the swift return. Our clients should be able to enjoy their holiday or focus on their work trip while we locate and expedite the baggage,"
-CD Lazear, Senior Vice President of Blue Ribbon Bags.
Whatever this summer throws at you, Trip.com will be by your side to offer solutions. At every stage throughout your travel journey, from pre-booking to when you land in your chosen destination, Trip.com's supportive staff and customer-focused products are available to support you every step of the way and make sure your next trip offers all the relaxation, fun and good times you've been craving.
ROSEWOOD HOTELS | August 08, 2022
Rosewood Hotels & Resorts® continues to grow its portfolio of exceptional residences with the announcement of Rosewood Residences Beverly Hills, the brand's first standalone residential condominium development in California. Located on Santa Monica Boulevard neighboring world-renowned landmarks and timeless Beverly Hills icons, the boutique development, comprised of 17 ultra-luxury residences, will serve as a model for enriched living in Southern California. Developed by Nahla Capital and GPI Companies, Rosewood Residences Beverly Hills is scheduled for completion in 2024, with sales to officially commence in 2023.Situated in the heart of Beverly Hills, Rosewood Residences Beverly Hills features exterior architecture and interiors designed by Thomas Juul-Hansen, known internationally for his excellence in craftsmanship and design of residential developments, custom residences, and elegant restaurants.
Evoking Rosewood's guiding A Sense of Place® philosophy, wherein each property reflects the texture and typology of its location, the residences will feature custom interiors and exquisite finishes that epitomize California's timeless and casual sophistication. Ranging from 3,000 to over 7,000 square feet, every private home comprises a vast array of truly unique amenities including private elevator access, large entry foyers, indoor and outdoor living areas, expansive chefs' kitchens with double islands, and mudroom/laundry rooms accessed by a discrete service elevator. Private swimming pools in nearly half the residences will create a focal point for their large terraces. Additional al-fresco features and amenities scattered across select residences include fully equipped outdoor kitchens, wet bars, and firepits, lending to exceptional living and entertaining.
"As the popularity of standalone branded residences continues to grow, Rosewood Hotels & Resorts is thrilled to present this opportunity to enjoy the height of living in the prominent market of Beverly Hills, Thoughtfully conceived to extend the utmost in design, service, and experience, Rosewood Residences Beverly Hills is poised to emerge as one of the most desirable destinations not only in California but across the country. We are proud to bring this incredible project to life alongside our partners and to further reinforce our commitment to delivering exceptional residential experiences in the most sought-after locations around the world."
-Brad Berry, vice president of Global Residential Development at Rosewood Hotel Group
Rosewood Residences Beverly Hills will be exclusively managed by a dedicated Rosewood Residential Team who oversee every aspect of the property's luxury service offerings. Coveted amenities will be available to its intimate group of homeowners, including a beautiful resort-like rooftop retreat featuring a pool, whirlpool spa, fitness center, and outdoor relaxation areas boasting breathtaking views of the city. Residents will also enjoy a communal rooftop lounge and dining spaces affording them the ability to host gatherings small or large.
"Nahla Capital and GPI Companies are proud to work alongside Rosewood Hotels & Resorts to introduce Rosewood Residences to the iconic Beverly Hills community, Rosewood Residences Beverly Hills will consist of one-of-a-kind homes with many exquisite amenities, and we are excited to collaborate with Rosewood, Compass Development Marketing group, and best-in-class firms including Thomas Juul-Hansen and executive architect MVE Architects to bring this project to life."
-Genghis Hadi, co-founder and managing principal of Nahla Capital.
About Rosewood Hotels & Resorts
Rosewood Hotels & Resorts® manages a global collection of 30 one-of-a-kind luxury hotels, resorts and residences in 18 countries. Each Rosewood property embraces the brand's A Sense of Place® philosophy to reflect the individual location's history, culture and sensibilities. The Rosewood collection includes some of the world's most legendary hotels and resorts, including The Carlyle, A Rosewood Hotel in New York, Rosewood Mansion on Turtle Creek in Dallas and Hôtel de Crillon, A Rosewood Hotel in Paris, as well as new classics such as Rosewood Hong Kong and Rosewood São Paulo. For those who wish to stay a little longer, Rosewood Residences offer a distinct opportunity for the ownership or rental of properties co-located with a Rosewood hotel or resort and of standalone for-sale residences. Rosewood Residences are defined by the brand's commitment to Enriched Living through thoughtful details and experiences that enhance the quality of life while evoking a sense of discovery and inspiration.About Nahla Capital Nahla Capital is a New York based Real Estate Private Equity firm that manages and invests capital for institutional and global private clients in core urban markets in the United States. We invest in urban markets that are major gateway cities in the United States including New York, Philadelphia, Los Angeles, San Francisco, Austin and Chicago, which have positive economic growth factors, compelling supply and demand dynamics, and strong employment sectors. At Nahla Capital we create a risk-adjusted investment strategy for our investors. We focus on delivering superior returns while actively managing exposure to risk and market fluctuations. We invest in core-plus, value add and opportunistic and mezzanine transactions. To date, Nahla Capital has invested in excess of $400 million in equity for a total AUM of $1.85 billion. Lean more about Nahla Capital at https://www.nahlacapital.com
About GPI Companies
Founded in 2008 as Goldstein Planting Investments, GPI Companies is managed by Cliff Goldstein, Drew Planting, and Lee Wagman. GPI Companies is a real estate investment and development firm that pursues a targeted range of properties where value can be enhanced through repositioning, redevelopment, or increased operational efficiency. The company and its principals have a history of delivering superior returns to their investors by successfully identifying and exploiting mispriced assets while at the same time minimizing volatility. GPI has the expertise and experience to execute projects of various sizes and complexity. With a team of seasoned real estate executives, the company's real estate investments are managed and operated directly by GPI Companies. Capital partners include prominent private equity funds, public pension plans, offshore investors, and family offices. The three partners of GPI Companies have more than 100 years of combined experience and have acquired or developed over $6 billion in award-winning urban real estate assets and leased and managed more than 20 million square feet of commercial space. Learn more about GPI at https://www.gpicompanies.com.
About Compass Development Marketing Group
From project inception to building sellout, Compass Development Marketing Group partners with the world's most forward-thinking developers and innovative architects through the lifespan of a project. Leveraging tenured expertise and the industry's most powerful technological resources, we provide strategic advice for record-breaking results. The company offers a comprehensive range of developer services, including research and analysis, planning and design, marketing and sales for luxury real estate. With nationwide representation in over 200 Compass offices, CDMG empowers residential developers with an unparalleled sales footprint in the United States. Licensed as Compass. CDMG is a subsidiary of Compass, a Fortune 500 company and the leading real estate brokerage in the United States by sales volume.