BusinessDay 20 Jul 2017

30
BUSINESS DAY C002D5556 Thursday 20 July 2017
Retail & Consumer Business
Luxury Malls Companies Deals Spending Trends
LG showcases cutting-edge
technologies at Elan expo exhibition
…offers consumers innovative products at pocket friendly prices
Stories by CHINWE AGBEZE
It was an assemblage of leading
brands in the technology industry
at the Landmark event
centre in Victoria Island, the
venue of the Elan Expo exhibition
which held on July 13- July
15, 2017.
West Africa HVAC, an event
which is the first of its kind provided
a unique platform for notable brands
to display their latest technology as
it hosted its maiden edition tagged,
‘‘Air conditioning, installation system,
refrigerator, water treatment
and insulation’’.
The three-day event offered unrivalled
opportunity for companies
to make public statements in terms
of their positioning in the industry
and new offerings they would bring
to the table.
The venue of the event was alive
and filled to capacity with exhibitors,
dealers and visitors. For the exhibitors,
it was a veritable platform to
expose their brand to participants.
LG Electronics, one of the top
brands at the expo did not disappoint
industry observers with the
display of their various innovative
products which made an impressive
mark at the exhibition.
LG’s stand had more visitors
as participants kept trooping in to
catch a glimpse of the brand’s latest
products.
Some of the arrays of products
displayed at the stand include;
L-R: Hari Krishna Elluru, head corporate marketing, LG Electronics West Africa operations; Saheed Adeyemi, sales manager, LG electronics
West Africa operations; Paul Mba, LG Electronics West Africa operations, and Vijay Bakshi, sales head, LG electronics west Africa operations
during the CAC Elan Expo exhibition at Landmark event centre in Lagos.
Multi V IV Pro, Multi V S Outdoor,
4WAY Cassette, Ceiling Concealed
unit, Floor standing 5HP and the
All New Gencool Cool Air Conditioner,
which was one of the products
prominently displayed at the
exhibition.
‘‘The All New Gencool AC comes
with a dual inverter and has a 10-
year warranty on the dual inverter
compressor. It has a 40percent
torque vibration reduction resulting
in the quietest operation of outdoor
unit,’’ said Vijay Bakshi, sales head,
LG Electronics West Africa.
Continuing, Bakshi said, ‘‘it has
a 15 degrees tilted skew fan which
minimizes the surface friction of the
blade when in contact with the air.
It also has a faster cooling technology
that operates at a higher speed
with more stability, cooling air up to
40percent faster thereby saving up to
70percent energy when compared to
conventional air conditioners’’.
While commenting on the company’s
performance at the exhibition,
Cholyoung Park, general manager,
Air Solution, LG Electronics
West Africa Operation, applauded
the brains behind the event saying
the idea was a laudable one.
“We are proud to be part of this
exhibition, and as it was clearly
observed, LG Electronics displayed
its array of unbeatable innovative
products which has stood it out
among other brands,’’ Park said.
According to Bakshi, LG’s Multi V
5 Ocean Black fin heat exchanger is
a leading example of the new technologies
which have been designed
to tackle problems head-on.
‘‘It enhances corrosion resistance
and has long lasting performance.
It’s designed from the ground up to
offer durability with conventional
models that operates a 3-sided heat
exchanger alongside an impressive
4-sided heat exchanger,’’ he said.
He also said that the brand’s
corrosion resistance technologies
allows the Multi V to pass the ISO accelerated
corrosion test conducted
by an independent test organization
paving the way for a validation of the
test result by the global certification
organization UL, Underwriters
Laboratories.
‘‘This product would be available
in the country later in the year for
organizations and consumers who
are already hitching to get one.
No doubt, the West Africa HVAC
exhibition left a lasting impression
in the minds of companies, visitors
and all participants. LG Electronics
also used the opportunity to show
that they are a brand to beat in the
industry as consumers continue
to get the assurance that life can
only get better with LG Electronics
products.
Association of lottery operators declares
support for Lagos at 50 Mega Raffle
STEPHEN ONYEKWELU
The association of lottery
operators, under
the umbrella of National
Union of Lotto
Agents and Employees has
declared its support and readiness
to spread the good news
to pundits and all Lagosians as
the Lagos 50 Mega Raffles enter
week four.
Arising from a meeting with
the organisers of the raffle, the
body declared that the Mega
Raffle is a credible programme
designed to enrich Lagosians
as they join in the celebration
of the 50 years of existence of
the state.
With this development, Lagosians
can now have access to
Lagos at 50 Mega Raffle tickets,
which goes for N50 only and
now available with lotto agents
across the states.
According to Gregory Olatunji,
the General Secretary of
the association, the Lagos at 50
mega raffle is a credible programme
well designed to give
back to the society especially
at this austere time.
“We have studied the
modalities and patterns of
the Lagos at 50 Mega Raffle
and can boldly say that it
is a credible programme
designed to give back to
Lagosians as the state marks
her 50 years of existence. The
organisers have also demonstrated
incredible passion
towards achieving the set
objectives” Olatunji said.
“We as a body are therefore
encouraging our members to
embrace the programme by
spreading it to the nooks and
crannies of the state. It is designed
to give everybody equal
opportunity and we appreciate
that” he said.
Speaking about the new
development, Adedayo Ayoade,
the Chief Operating Officer,
Betnow Company, the
organisers of the Mega draw,
expressed his joy over the show
of commitment and encouraged
members of the public to
go out enmass and purchase
the raffle ticket to be eligible for
the daily draw.
“Giving back to Lagosians
is the main motive behind this
project which is attached to
the Lagos at 50 celebrations. It
is our belief that well-meaning
Lagosians deserve to enjoy and
celebrate with the state hence
the project. The mega raffle
gives out N50, 000 to 5 winners
daily; N100, 000 to 5 winners
daily and a mega winner of
N500, 000 daily to one winner.
At the end of the draw, two
lucky winners will also be going
home with N5miillion jackpot”
he stated.
Global retail update
Unilever fights for food
unit
The Anglo-Dutch food
group is reportedly
involved in a GBP 2
billion bidding war
with US meat processor Hormel
to buy the food division
of Reckitt Benckiser. But Unilever
will need some secret
sauce to make this acquisition
taste good, according to an
insider.
Lidl up in arms
The discount giant is firing
back at Kroger, denying
any wrongdoing after the
US supermarket operator
accused Lidl of trademark
infringement, claiming it
an attempt to tarnish the
German chain’s reputation.
Meanwhile, Kroger tackles
its own underfunded pension
problems with a US$ 1 billion
contribution.
A bride’s nightmare
In yet another retail failure,
Alfred Angelo Bridal
Signature Stores has unexpectedly
closed its 60 US
stores and filed for Chapter
7 bankruptcy, leaving untold
numbers of shocked
customers in a panic. Many
frustrated brides vent their
annoyance on social media.
Hypermarket strategies
French retailer Casino
believes it has found the right
balance for its Géant hypermarkets
with permanent prices,
loyalty and promotions,
while Kaufland is reversing its
strategy in Germany. Instead
of reducing the product variety,
as planned a year ago, it is
now re-listing a lot of articles.
Blending online and offline
Chinese e-commerce
giant Alibaba has opened
another three Hema stores,
expanding its network to 13
across the country. The physical
sites also serve as fulfilment
hubs for online orders.
Shoppers can scan items for
more information.
Payment partnership
South Korean tech com-
pany Samsung has teamed
up with payment service
Paypal. Users will be able
to choose the latter as their
preferred method of payment
on Samsung’s payment
app. The offer will
initially be available in the
United States
Warehouse megadeal
A Chinese consortium has
bought warehouse operator
Global Logistic Properties
for US$ 11.6 billion, the largest
deal of its kind in Asia.
The premium paid reflects
the booming demand for
warehouse space thanks to e-
commerce giants like Alibaba
and JD.com.
Fashion fallout
Apparel giant Topshop’s
floundering Australian operation
has seen half its stores
close as administrators restructure
the retailer. Department
store chain David Jones’
sales have fallen for the year,
with the company blaming
the decline on Australia’s
weak consumer confidence.