Here's what local news sources are reporting about retail property in the Asia-Pacific region:

• More Asian e-tailers, such as Singapore-based Zalora, are embracing physical retail. Zalora opened its first pop-up store at ION Orchard in October 2014, and has been using the strategy to draw in new customers ever since. “In the next five to 10 years, the most successful retailers will not be either online or offline but the ones who makes the best out of both worlds,” Zalora’s chief marketing officer Tito Costa said. “Despite the fast growth of e-commerce in the past few years, customers are still not confident when it comes to shopping fashion online. The barrier of trust has always been a big challenge for online retailers to overcome, as customers seek to touch and feel the products before they purchase for the first time." Singapore Today

• Japanese department store operator Isetan Mitsukoshi Holdings has asked its president Hiroshi Ohnishi this month to step down after months of poorperformance. The board will replace Ohnishi with senior managing executive officer Toshihiko Sugie next month. Nikkei Asian Review

• Property trust Astro Japan Property Group has received a takeover offer from global private equity firm Lone Star Funds. Astro’s assets, almost half of which are retail centres in the greater Tokyo area, are valued at $969 million. The Australian Financial Review

• Fast-food operator McDonald’s has rolled out its “experience of the future”prototype to 60 stores in Hong Kong. The prototype stresses such technology as self-order kiosks and mobile ordering to win customers from competing quick-service restaurants.The stores features touchscreen kiosks which customers can use to place and customise orders, as well USB charging stations and meal delivery service. Marketing Interactive

• U.S.-based retail chain TJX is opening its first freestanding TK Maxx stores in Australia. The launch includes the rebranding of a fleet of 35 Trade Secret stores purchased by TJX last year. TK Maxx will open new stores along the country's east coast later in 2017, it says. Fashion Network

• Marks & Spencer is blaming its poor performance in China and subsequent exit from the market on poor name recognition. Sky-high rents on the high streets where the chain operates also helped contribute to weak profits, observers say. The Telegraph

• Platinum Cineplex closed all of its screens at three Vincom Retail malls in Hanoi. The landlord and tenant could not agree on terms for a lease renewal. Tran Mai Hoa, General Director of Vincom Retail, told local media that the reason for the closure is that the two sides failed to reach agreement on further cooperation. “After several years of operations, Platinum has not had proper investment, so its service quality no longer meets the criteria of our trading centers,” she said. “Our cooperation cannot therefore continue.” Vietnam Economic Times

• Hong Kong-based eyewear firm Mujosh will open its first store in Vietnam, at the seven-level Saigon Center.Mujosh is owned by Photosynthesis Group Co. and now has over 700 boutiques across Asia and the South Pacific located in mainland China, Hong Kong, Singapore, Thailand, Malaysia and Australia, and most recently, Canada. Retail in Asia

• Chinese smartphone brand Xiaomi Corp wants to operate 250 self-owned bricks-and-mortar retail stores by year's end. The company expects to grow its store portfolio to 1,000 within three years. China Daily

• Lifestyle International will downsize its struggling Sogo department stores business in northern China to focus on the eastern Yangtze River Delta. Lifestyle's Chairman Thomas Lau Luen-hung said: "Even if we were to exit northeastern China, the impact would be extremely small. It would help rather than hurt our business. Nikkei Asian Review

• Manila-based SM Prime Holdings Inc. plans to raise funds by offering to the public up to $400 million worth of retail bonds that will mature in seven years. The company said mall revenues grew by 9 percent to $880 million in 2016, as rentals improved by 10 per cent. Business Mirror

• Some retailers are cutting hours at their stores due to a shortage of workers, and malls are following suit. Shopping center operator Lumine said it will close 12 of its malls 30 minutes earlier starting in April. To offset any resulting decline in sales, the landlord is coaching tenants to lay out their sales floors better and better serve customers instead of relying on promotional sales to get shoppers in the door, according to the company's president Yoshiaki Arai. Nikkei Asian Review