Inside Retail Asia

Theory has appointed James Kelly as its new global CEO, promoting a longtime Fast Retailing executive as the New York-based fashion brand undergoes a leadership transition. Kelly succeeds Dinesh Tandon, who will become global co-chief operating officer alongside Serena Peck and return as CEO of Theory China. Tandon has led the brand globally since 2019. Kelly joined Theory in 2022 as CFO before moving into the role of global co-chief operating officer.

India’s Serious Fraud Office has recommended Xiaomi be investigated for alleged irregularities in its business model and compliance with foreign investment law, potentially intensifying scrutiny of the smartphone maker, a government document shows. China’s Xiaomi was once India’s top-selling smartphone brand but has seen its market share dwindle amid intense competition from Apple and Samsung. It is also battling several tax demands and royalty payment disputes.

Hong Kong FMCG brands often reach consumers through supermarkets, convenience chains and neighbourhood grocers, with limited visibility of the people buying their products. One long-established bakery and confectionery manufacturer set out to change that by building a B2B2C loyalty program around receipts instead of relying on retailer point-of-sale data. The program took Gold for Best CRM Campaign at the DigiZ Awards 2026.

German footwear brand Birkenstock has opened its first brick-and-mortar concept store in Indonesia. Located in Ubud, Bali, the store was designed by architect Yoka Sara and draws inspiration from the site’s history and traditional Balinese homes. Sara says the entrance references the kitchen, traditionally the first space entered upon returning home, reflecting the meaning of ‘Umah’ – the Balinese word for home.

Investment firms Royal Holdings and RB Capital have entered into an agreement to acquire Scotts Square shopping centre in Singapore for $245 million (S$310 million) from Wharf Estates Singapore. Scotts Square is a four-storey shopping centre with a luxury focus on Scotts Road, just off the Orchard Road shopping precinct. The centre has a gross floor area of 130,875sqft and a net lettable area of about 76,660sqft. The space is known for high-end art installations.

The queue outside Chipotle’s first restaurant in Asia formed hours before anyone could order. Nathaniel Lawton, the company’s chief business development officer, said some fans had arrived as early as 5am. Seoul has seen all of this before, which is exactly why the opening-day crowd is the least useful number Chipotle will generate in Korea. The store sits a few steps from Exit 10 of Gangnam Station and next door to a Shake Shack run by the same operator.

The first iPhone in 2007 mainstreamed touchscreen technology, years after it was developed. Now Apple is betting its maiden foldable phone can do the same for a format stuck in a niche despite years of efforts from Samsung and Chinese rivals like Huawei.

The iPhone Duo straddles two eras at Apple. It was developed while Tim Cook was CEO but overseen by John Ternus, the former hardware engineering chief who succeeded him on September 1. Unveiled just eight days into Ternus’s tenure, Apple’s first foldable smartphone is therefore more than an inherited product. It is an early test of whether the engineering leadership that took Ternus to the top can help Apple regain its reputation for hardware innovation.

Cinnabon will close its final Singapore store at Ion Orchard on September 22, bringing the American cinnamon roll chain’s latest stint in the market to an end after about three years. The brand announced the closure on September 8, telling customers it was time for “one last Bon together”. “From our very first Bon to the many that followed, you have made Cinnabon part of your cravings, catch-ups, celebrations and everyday moments,” the brand wrote in an Instagram post.

Starbucks has opened its first Signing Store in Vietnam on Cao Thang Street in Ho Chi Minh City, with deaf partners working alongside other employees across store operations and customer service. The store introduces an inclusive service model that incorporates visual communication, gestures and other forms of non-verbal interaction. Set back from the main road, the Cao Thang store features a garden-style layout designed to provide a quieter environment for customers.