Latest news with #Hau
Sydney Morning Herald
6 days ago
- Business
- Sydney Morning Herald
Amazon launches its own ‘trusted' version of Temu in Australia. Here's what we know
'Consumers are increasingly looking for value; price is biggest driver of where consumers are shopping, coupled with an increased focus on discounts, researching online and deferring unnecessary purchases,' wrote respected retail analyst Ben Gilbert in a joint white paper with Shippit. 'We found a third of respondents' delivery expectations lifted in the past 12 months as a direct result of Amazon/Temu/Shein.' Retail consultant Trent Rigby said Haul's key differentiator would be fulfilment. 'Temu, Shein and Ali typically ship directly from Chinese manufacturers, whereas Amazon can leverage its established fulfilment infrastructure. That means Haul could, in theory, offer faster delivery, better customer service [although they're getting better, these Chinese marketplaces generally have pretty woeful customer service] and stronger product guarantees – addressing three major pain points for consumers with these low-cost marketplaces,' he said. Haul is Amazon's bid to capture the budget-conscious, younger customers who have flocked to Temu and Shein – if they get the experience right, he said. Loading 'The challenge will be matching the rock-bottom prices of these rivals while maintaining the delivery speed and trust that consumers expect from Amazon.' Temu was named by customer spending analytics platform Fonto as Australia's fastest-growing consumer retail brand for the 2025 financial year, winning more than 1.3 million new customers across the year. Cost of living pressures have also helped Shein and Temu capture greater market share in Australia, where 3.8 million customers have tried Temu at least once and 2 million customers have bought from Shein, according to Roy Morgan data. Together, Temu and Shein are expected to surpass $3 billion in sales. Coles and Woolworths have become increasingly threatened by Amazon's aggressive expansion. During the ACCC's supermarket inquiry, Coles chief Leah Weckert said the US giant was 'quite disruptive to our business model', while Woolworths chief Amanda Bardwell said Amazon now covered 40 per cent of what the supermarket sold. Gilbert described Amazon as a 'force to be reckoned with in Australia' and 'growing faster than we thought'. 'We estimate Amazon Australia, by gross merchandise value, is now larger than Accent Group, The Reject Shop, Beacon Lighting Group, Temple & Webster, Premier Investments and Universal Store combined,' Gilbert wrote in a note to clients issued in March last year. What's the catch? Australians will only be able to access Haul through the Amazon app – and only some customers will see the new feature, which is still in the beta phase and will be rolled out to remaining customers 'in coming days', the company said in a press release. Haul is not available on Amazon's website in any country. Amazon Haul was launched in November last year in the US, UK, Germany, Saudi Arabia, the United Arab Emirates and Mexico. To lure customers in, Amazon is adding a 60 per cent discount on all Haul items that will be applied at checkout for the first two weeks. But don't expect next-day delivery; since the products are being shipped from overseas, your Amazon Prime subscription will be useless as deliveries are slated to arrive 'in two weeks or less'. 'The products on offer via Amazon Haul are manufactured and shipped from abroad and sold by Amazon,' said Henley.
The Age
6 days ago
- Business
- The Age
Amazon launches its own ‘trusted' version of Temu in Australia. Here's what we know
'Consumers are increasingly looking for value; price is biggest driver of where consumers are shopping, coupled with an increased focus on discounts, researching online and deferring unnecessary purchases,' wrote respected retail analyst Ben Gilbert in a joint white paper with Shippit. 'We found a third of respondents' delivery expectations lifted in the past 12 months as a direct result of Amazon/Temu/Shein.' Retail consultant Trent Rigby said Haul's key differentiator would be fulfilment. 'Temu, Shein and Ali typically ship directly from Chinese manufacturers, whereas Amazon can leverage its established fulfilment infrastructure. That means Haul could, in theory, offer faster delivery, better customer service [although they're getting better, these Chinese marketplaces generally have pretty woeful customer service] and stronger product guarantees – addressing three major pain points for consumers with these low-cost marketplaces,' he said. Haul is Amazon's bid to capture the budget-conscious, younger customers who have flocked to Temu and Shein – if they get the experience right, he said. Loading 'The challenge will be matching the rock-bottom prices of these rivals while maintaining the delivery speed and trust that consumers expect from Amazon.' Temu was named by customer spending analytics platform Fonto as Australia's fastest-growing consumer retail brand for the 2025 financial year, winning more than 1.3 million new customers across the year. Cost of living pressures have also helped Shein and Temu capture greater market share in Australia, where 3.8 million customers have tried Temu at least once and 2 million customers have bought from Shein, according to Roy Morgan data. Together, Temu and Shein are expected to surpass $3 billion in sales. Coles and Woolworths have become increasingly threatened by Amazon's aggressive expansion. During the ACCC's supermarket inquiry, Coles chief Leah Weckert said the US giant was 'quite disruptive to our business model', while Woolworths chief Amanda Bardwell said Amazon now covered 40 per cent of what the supermarket sold. Gilbert described Amazon as a 'force to be reckoned with in Australia' and 'growing faster than we thought'. 'We estimate Amazon Australia, by gross merchandise value, is now larger than Accent Group, The Reject Shop, Beacon Lighting Group, Temple & Webster, Premier Investments and Universal Store combined,' Gilbert wrote in a note to clients issued in March last year. What's the catch? Australians will only be able to access Haul through the Amazon app – and only some customers will see the new feature, which is still in the beta phase and will be rolled out to remaining customers 'in coming days', the company said in a press release. Haul is not available on Amazon's website in any country. Amazon Haul was launched in November last year in the US, UK, Germany, Saudi Arabia, the United Arab Emirates and Mexico. To lure customers in, Amazon is adding a 60 per cent discount on all Haul items that will be applied at checkout for the first two weeks. But don't expect next-day delivery; since the products are being shipped from overseas, your Amazon Prime subscription will be useless as deliveries are slated to arrive 'in two weeks or less'. 'The products on offer via Amazon Haul are manufactured and shipped from abroad and sold by Amazon,' said Henley.
The Star
11-07-2025
- Business
- The Star
Vietnam jails ex-provincial officials in US$45mil bribery case, according to local reports
Former party chief of Vinh Phuc province Hoang Thi Thuy Lan (second from left) stands with other defendants during a corruption trial in the People's Court in Hanoi on Friday, July 11, 2025. A court in Vietnam on July 11 jailed more than 40 people, including several ex-senior state officials, over graft worth almost US$45 million -- some as cash stuffed in suitcases -- in a major anti-corruption drive. (Photo by AFP) HANOI (Bloomberg): A Vietnam court sentenced 41 people, including multiple former senior officials, in a US$45 million corruption case tied to a property company's operations in three Vietnamese provinces. Hoang Thi Thuy Lan, a former senior provincial party official in what was previously Vinh Phuc province, was sentenced to 14 years in jail for taking bribes to give preferential treatment to Phuc Son Group property firm when bidding for projects in the province, Tuoi Tre newspaper reported on its website, citing information from the court. The chairman of Phuc Son Group, Nguyen Van Hau, was sentenced to 30 years in jail for bribery, violating accounting and bidding regulations, news website Vietnamnet reported. Hau was accused of paying bribes of more than 132 billion dong (US$5.1 million) to officials between 2010 and 2023, helping him to rake in over 1.16 trillion dong in illicit gains, according to a separate report. He admitted to the charges in court, the report said. Nearly 30 other former officials were given sentences ranging from 2 years to 12 years for charges including receiving bribes and abuse of power, with some given suspended sentences, news website VnExpress reported. Representatives of Phuc Son Group were not immediately available for comment. Hundreds of government officials and business executives have been caught up in the Communist Party's years-long anti-corruption campaign, which has been portrayed as part of Vietnam's attempts to bolster its appeal as a destination for foreign investment amid global tensions. Last month, Vietnam's parliament abolished the death penalty for eight crimes, including bribery and embezzlement, paving the way for death row inmates such as real estate tycoon Truong My Lan, who was convicted in the country's largest-ever fraud case, to be spared execution. Hau, Lan and several other ex-officials were arrested last year in an investigation into violations at property firms Phuc Son Group and Thang Long Property Co. Phuc Son has 24 projects nationwide with investments totaling over 40 trillion dong. -- ©2025 Bloomberg L.P.
Daily Express
11-07-2025
- Business
- Daily Express
Vietnam jails 30 people for graft worth US$45 million
Published on: Friday, July 11, 2025 Published on: Fri, Jul 11, 2025 By: AFP Text Size: Phuc Son Group chairman Nguyen Van Hau spent over US$5 million bribing officials. (AFP pic) HANOI: A court in Vietnam today jailed 30 people including several former senior officials over graft that cost the state US$45 million, with one ex-official convicted of taking suitcases stuffed with cash bribes. The communist nation's crackdown on corruption in recent years has seen two presidents and three deputy prime ministers deposed and top business leaders taken down. Today, state media said a Hanoi court announced verdicts for 30 former officials and 11 businessmen charged with bribery, abuse of power and violating bidding and contracting laws. Thirty of the 41 were convicted of corruption that prosecutors say caused damages worth more than 1.16 trillion dong (US$44.6 million) to the state, Public Security News said. The bribes themselves totalled far less. Prosecutors said that between 2010 and 2024, chairman of the Phuc Son Group, Nguyen Van Hau, spent over US$5 million bribing officials to win contracts in over a dozen multi-billion-dollar infrastructure projects in three provinces. Hau brought suitcases of cash to other defendants' offices or private residences for the bribes, prosecutors say. For that and other violations he was handed 30 years in prison. Former party chief of Vinh Phuc province Hoang Thi Thuy Lan was given 14 years behind bars for taking the biggest bribes – almost US$2 million in suitcases weighing up to 60kg. 'I recognise my mistakes and my crime and fully accept the indictment,' Lan told the court. 'I would like to ask the court to reduce sentences for my comrades in the most humanitarian manner,' she said. According to lawyers, Hau and his group paid over US$45 million as compensation for the damages in the case. In April, Vietnam jailed former deputy minister of industry and trade Hoang Quoc Vuong for six years after finding him guilty of 'power abuse' in a solar energy development plan. The 62-year-old had admitted to taking a US$57,600 bribe to favour solar power plants in southern Ninh Thuan province, but his family paid the amount back before the sentencing. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
11-07-2025
- Business
- The Star
Vietnam jails 30 people for graft worth US$45mil
Nguyen Van Hau, chairman of the Phuc Son Group spent over US$5 million bribing officials to win contracts in over a dozen multi-billion-dollar infrastructure projects in three provinces. - VNA HANOI: A court in Vietnam on Friday (July 11) jailed 30 people including several former senior officials over graft that cost the state US$45 million, with one ex-official convicted of taking suitcases stuffed with cash bribes. The communist nation's crackdown on corruption in recent years has seen two presidents and three deputy prime ministers deposed and top business leaders taken down. On Friday, state media said a Hanoi court announced verdicts for 30 former officials and 11 businesspeople charged with bribery, abuse of power and violating bidding and contracting laws. Thirty of the 41 were convicted of corruption that prosecutors say caused damages worth more than 1.16 trillion dong ($44.6 million) to the state, Public Security News said. The bribes themselves totalled far less. Prosecutors said that between 2010 and 2024, chairman of the Phuc Son Group, Nguyen Van Hau, spent over $5 million bribing officials to win contracts in over a dozen multi-billion-dollar infrastructure projects in three provinces. Hau brought suitcases of cash to other defendants' offices or private residences for the bribes, prosecutors say. For that and other violations he was handed 30 years in prison. Former party chief of Vinh Phuc province Hoang Thi Thuy Lan was given 14 years behind bars for taking the biggest bribes -- almost $2 million in suitcases weighing up to 60 kilograms. "I recognise my mistakes and my crime and fully accept the indictment," Lan told the court. "I would like to ask the court to reduce sentences for my comrades in the most humanitarian manner," she said. According to lawyers, Hau and his group paid over $45 million as compensation for the damages in the case. In April, Vietnam jailed former deputy minister of industry and trade Hoang Quoc Vuong for six years after finding him guilty of "power abuse" in a solar energy development plan. The 62-year-old had admitted to taking a $57,600 bribe to favour solar power plants in southern Ninh Thuan province, but his family paid the amount back before the sentencing. - AFP
