Reporting and analysis on retail, e-commerce, and consumer trends in China, updated continuously by our newsroom.
Chow Tai Fook Jewellery Group, the world’s largest listed jewelry chain, will be more “selective” in expanding in mainland China, after it posted on Tuesday the steepest decline in full-year profit since it listed locally due to the economic slowdown. Listed…
French skincare brand L’Occitane has revealed its plans to expand into China’s lower-tier cities through e-commerce, in particular Tmall, an online platform for branded goods operated by Alibaba Group Holding. The company revealed that it has a marketing…
Carrefour China has opened a new distribution center is in Hongmei Town, Dongguan, Guangdong province. It says the centre will play an important role in the supply chain of Carrefour China in South China area, by forming a logistics network covering the Pearl…
Italian fashion house Giorgio Armani Asia is the latest luxury retailer to cite greater China as the cause of a downturn in sales. Burberry and Hugo Boss have also been hit by China’s economic slowdown, leading to Hugo Boss cutting its prices in Asia. Armani…
Alibaba and Suning, one of China’s largest electronics retailers, plan to fuel Chinese and international consumer electronics brands sales over the next three years by investing in an online-to-offline (O2O) retail initiative. The pair will work together to…
Beancounting has taken a turn for the worse for Caffe Bene Korea, which has just reported a net loss of US$30 million. The coffee shop chain’s turnover was $97 million, according to a corrected annual report filed with South Korea’s Financial Supervisory…
The new Suning-Inter Milan deal marks just the first step in a far greater ambition for Chinese retail giant Suning, which plans to run a global sports empire including online broadcasting. Suning and Inter Milan are scheduled to make an announcement in…
Alibaba Group is raising its profile here in a slow, yet unconventional way, as its business strategy is far from that of other companies whose primary goal is to maximize profit. China’s largest e-commerce company was not well known to Korean customers…
Michael Kors is pleased to announce that the Company has completed the acquisition of Michael Kors (HK) Limited, the exclusive licensee of the Company in China and certain other jurisdictions in Asia, on May 31, 2016, for $500 million in cash, subject to…
In recent months, certain areas of Hong Kong have become noticeably less crowded with gaggles of visitors from China towing sizeable suitcases. Anecdotal observations indicate the local tourism industry is experiencing one of its periodic slowdowns. Official…
More Koreans are shopping online via smartphones and tablets than on their laptop or desktop computers. According to Statistics Korea Thursday, online shopping transactions rose 11.3 percent in April compared to a year ago, hitting 4.76 trillion won ($4.0…
American footwear retailer Ugg’s new global retail store concept – part of the brand’s largest re-launch in 37 years – will be introduced in Ugg Asia outlets this year. Coinciding with the 10th anniversary of Ugg’s New York flagship store in SoHo, the new 263…
Hong Kong jewellery group Luk Fook Holdings International has opened a retail outlet at the Shinsegae Main Store in Seoul. Korea’s first department store, Shinsegae opened in 1930 and has become a tourist attraction. Luk Fook chairman/chief executive Wong Wai…
Japan is starting to lose its edge as a shopping holiday destination for Mainland Chinese. Mainland Chinese shoppers are likely to become increasingly discouraged by the rising value of the Japanese yen against the yuan, according to analysis by Nikkei and…
At headline level Michael Kors has ended its fiscal year on a strong note with total revenue up by 10.9 per cent, underpinned by a robust increase of 22 per cent in retail sales. However, most of the uplift is thanks to the fact the company opened some 142…
Michael Kors has paid $500 million in cash to acquire Michael Kors HK, the exclusive licensee of the company in China and certain other jurisdictions in Asia. Approved by independent members of the company’s board of directors, the acquisition is subject to…
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