Reporting and analysis on retail, e-commerce, and consumer trends in Hong Kong, updated continuously by our newsroom.
The world’s largest crypto exchange Binance said it would no longer allow new users to open futures accounts in Hong Kong, following warnings issued by the city’s regulators. Existing users will have a 90-day period to close their positions, Binance said, and…
The city-state’s unicorn businesses take an average of 6 years and 11 months to reach the valuation of $1 billion. Singapore is the joint fourth best country in the world for unicorn start-ups, according to a recent study by credit broker Money.co.uk, with…
Carousell Hong Kong has appointed Hong Kong digital industry veteran Kevin Huang (pictured) as managing director. Huang, who was last CEO of Birdie for about two years, will now oversee the development of overall business strategy, managing the daily…
7-Eleven has officially opened its 1000th store in Hong Kong – a milestone moment for both the brand and its customers. 7-Eleven launched its very first store in Happy Valley back in 1981 and, 40 years later, has opened its 1000th store on Des Voeux Road in…
Hong Kong noodle chain TamJai SamGor Mixian is expanding its presence in its home market with a flagship concept launch in the nightlife hub of Lan Kwai Fong this week. The TamJai SamGor store will also unveil the brand’s new international image, featuring…
US tech giants Facebook, Google, and Twitter have privately warned the Hong Kong government that they could stop offering their services in the city if authorities proceed with planned changes to data protection laws, the Wall Street Journal reported on…
A staffing error reportedly bypassed internal controls at Deutsche Bank which led to the expiration of its Hong Kong license to sponsor initial public offerings, marking a setback to the relaunch of its Asia equities business. Deutsche Bank failed to replace…
Exiled dissident and former Hong Kong lawmaker Ted Hui Chi-fung spoke again about his frozen accounts, claiming that there was no legal basis for continued suspension. According to ex-Hong Kong lawmaker Ted Hui, legal advice he received suggests that police…
Online marketplace YesAsia is set to raise US$17 million in an IPO launch in Hong Kong. The company aims to offer 39,540,00 new shares, 90 percent of which will be available for placing with institutional and professional investors while 10 percent will be…
Beauty products retailer L’Occitane International has reported sales and profit beyond expectation after successfully adapting to the challenges of selling products during a global pandemic. Despite the Covid crisis, like-for-like net sales of US$1.83 billion…
Hong Kong retail sales rose 10.5 percent in May from a year earlier, the fourth consecutive monthly gain, boosted by an easing Covid-19 threat. But the growth lagged pre-pandemic levels as inbound tourism is at a halt and global travel restrictions linger.…
Hong Kong was dethroned as the costliest city for expatriates, according to a recent survey by Mercer, after holding the top rank for three years in a row. Ashgabat, the capital of Turkmenistan, was ranked as the costliest place for expat living, according to…
California Pizza Kitchen (CPK) – creator of California-style pizza – today announced the grand opening of its new restaurant in Hong Kong in partnership with Chun Fat Enterprise Limited. With over 27 years of serving guests in the Hong Kong market, the new…
Sa Sa International (0178) projects to close 15 to 20 shops in Hong Kong by the end of March 2022, but will add 30 stores in the mainland after recording a net loss of more than HK$350 million for the fiscal year ending March. Sa Sa said that it will close…
An announcement on the launch date for the travel bubble is expected in early July, following a review by both sides. The latest developments come in view of the COVID-19 epidemic situation in Singapore, which has been stabilizing since early June, the Hong…
The Hong Kong Monetary Authority is exploring the feasibility of issuing a digital currency for the city, joining central banking efforts worldwide to create electronic money. A paper exploring the feasibility of issuing a retail-focused central bank digital…
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