Reporting and analysis on retail, e-commerce, and consumer trends in Hong Kong, updated continuously by our newsroom.
In response to the business community’s call for looser quarantine measures and a roadmap for reopening, the Hong Kong government remained insistent that the current status quo will remain until local vaccination rates rise significantly. The Hong Kong…
DBS is reportedly the latest to join the wave of global banks and multinationals that are cutting down office occupancy in Hong Kong. DBS will surrender a quarter of the eight floors it occupies in one of its Hoang Kong offices – One Island East Tower –…
E-commerce businesses in Hong Kong are set to recapture their growth hit by the COVID-19 pandemic, with supply chain and logistics issues and a decline in sales, Paypal’s new study showed. Despite the obstacles brought by COVID-19, two-thirds (61%) of…
Banks looking to capitalize on wealth management opportunities from the Greater Bay Area will have to wait until travel bans are lifted, according to the Hong Kong Monetary Authority. HKMA chief executive Eddie Yue said that the existing travel bans make it…
After being rejected in the U.K., Huawei lawyers seek to make a similar push to pressure HSBC to unveil documents they claim will disprove accusations of fraud against chief financial officer Meng Wanzhou. After a 30-minute hearing at Hong Kong High Court, no…
Tech industry veteran Ryan Lai has been named the new managing director for foodpanda Hong Kong. Lai will oversee all aspects of the delivery company’s business operations, while contributing to the growth and strategic development of the platform, including…
The investment will be used to finance WeLab’s further expansion and, in particular, enable the ongoing development of its technological platform. Allianz X, the digital investment unit of Allianz, has joined the Series C funding round for WeLab, with a $75…
Hong Kong furniture retailer Pricerite has introduced its first online food range, Pricerite Food, fronted by Hong Kong rising star, actor Liu Junqian. According to the company, Pricerite Food’s philosophy is to promote a “slow living” lifestyle amid the…
Foot Locker, the leading global destination for speciality athletic-lifestyle footwear, apparel and accessories, has opened a new Power Store in Hong Kong. The new store, located in Gala Place, Mong Kok offers visitors a unique single level destination. This…
Hong Kong’s luxury property market continues to post record numbers with the latest leasing contract. A 10,804 square foot home in the city’s wealthiest district was rented out for HK$1.35 million per month, according to a statement from local developer Wharf…
Casual apparel retailer Bossini says it will close more stores in Hong Kong as many landlords remain unwilling to convert leases to turnover-based rents. The company has reported a loss of US$11.2 million for the December half after sales fell 25 percent.…
The Citi Plusdigital wealth platform was officially rolled out on Monday in Hong Kong, following a pilot launch in December 2020. Catered to digital natives, Citi Plus offers personalized wealth management information and knowledge kits for clients and…
HSBC is primed to publicly introduce its strategic shift in the upcoming 2020 earnings presentation which could include the announced relocation of top executives. Internally known as the pivot to Asia, HSBC will begin marketing the strategy to the public…
Located in Hong Kong’s exclusive Mid-Levels neighborhood, the apartment is Asia’s priciest, according to «Bloomberg.» A 3,378 square foot penthouse at the 21 Borrett Road development was sold on Monday for HKD $459,408,000 ($59,258,165) to an unnamed buyer,…
Citi’s Hong Kong businesses registered growth across the board, according to an internal memo seen, despite a more than 40 percent drop in profit for the overall group. Citi Hong Kong’s consumer business saw a 44 percent increase in net new money inflows with…
Standard Chartered will give up several floors in the main offices of the Hong Kong central business district as banks continue to adapt to the post-covid environment. Standard Chartered will give up the lease on eight floors of its Standard Chartered Bank…
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