Inform! Startup Wheel 2021 is now open for all applications

Global business situation starts with a slight fluctuation in the second quarter of 2021

Lotteria denies closing rumours

Lotteria Vietnam has said that it will continue its business expansion in Vietnam amid Korean media reports of its closedown over a net loss of nearly US$9 million. There is an inaccurate understanding of the Korean media report, the Lotteria Vietnam spokesperson added. “It is true that Lotte GRS is leaving the Indonesian market but we are continuing with our franchise and food retail businesses in Vietnam,” the newspaper quoted a Lotte GRS official as saying. Lotteria Vietnam is proceeding with its normal business while an expansion is underway. The firm is expected to invest in a new plant at Long Hau Industrial Park in Long An Province, just outside Ho Chi Minh City, and open ten Lotteria stores in 2021.

Amazon is opening its first salon in London, UK.

Amazon Salon will occupy more than 1,500 square feet of space across two floors at a location in Brushfield Street in London’s Spitalfields. Spectacularly, customers can experiment with different hair colors using an augmented reality (AR) app that lets customers see what different hairstyles and colors look like on them before they decide on a change.

Huawei wins in the court

The court case dates back to 2017, when Chanel filed a ‘notice of opposition’ after Huawei had added to register its trademark with the EU. The logo in question from Huawei is for computer hardware and shows two rings vertically interlocked. Chanel had argued that the logo was too similar to its famous ‘double c’, which are horizontally interlocked, logo.

Ultimately, the court ruled that the logos were simply not similar enough to be a cause for concern for either company and rejected Chanel’s appeal this week. The figurative marks at issue are not similar. The marks must be compared as applied for and registered, without altering their orientation. In particular, Chanel’s marks have more rounded curves, thicker lines and a horizontal orientation, whereas the orientation of the Huawei mark is vertical. Consequently, the General Court concludes that the marks are different. 

Jambox Games raises funds to publish games in India and Southeast Asia

Jambox Games, a Singapore-based startup, has launched a game publishing platform to help developers in India and Southeast Asia to publish their mobile games. The funding shows that emerging regions are also benefiting from the growth of gaming and the availability of capital in games, which is now supported by dozens of game-focused venture capital funds. With a focus on casual and hyper casual games that are hugely popular in the region among Gen Z, millennials, and women, Jambox aims to offer a toolkit that integrates analytics, attribution, user acquisition, and monetization. Jambox is looking to launch the platform in Vietnam, India and Indonesia initially before scaling this to Malaysia, Thailand and the Philippines.

Apple is targeted in a ransomware attack all of a sudden

Apple has been targeted in a $50 million ransomware attack following the theft of a trove of engineering and manufacturing schematics of current and future products from Quanta, a Taiwan-based company that manufactures MacBooks and other products for Apple. The leak was carried out by REvil, a Russian hacking group that’s also known by the name Sodinokibi. The group had already begun posting the stolen images on April 20th, timed specifically to coincide with the Apple Spring Loaded 2021 event, after Quanta refused to pay the $50 million ransom for the data. The group is now hoping to get Apple itself to pay up by May 1st, promising to continue to post new images from the leak daily until it does.

Sources of information include The Korea Times, BBC News, The Verge, Venture Beat.