Topic
9 stories in this topic
Fung Group has sold its Guangzhou Circle K-store network to Chinese retailer Suning for an undisclosed sum. Facing intense competition in the mainland convenience-store market, the network of 61 outlets has failed to make a profit since the brand’s launch…
Fung Retailing and Alibaba have formed a strategic partnership to launch more international lifestyle brands in Mainland China. The partnership will bring closer Alibaba’s 600-million user base and Fung Retailing’s 3000+ network of stores across Greater…
French fashion label Ikks has launched in Mainland China after forming a partnership with Fung Kids. Four stores have been opened in Shanghai and Beijing focusing on the brand’s new childrenswear line, with more planned on both the mainland and in Hong Kong…
Fung Retailing’s battle with the administrators of bankrupt Toys R Us has ramped up, with the latter company filing an injunction request in US courts this week. The Hong Kong company is working to protect its first-right-of-refusal clause on acquiring shares…
The Fung family has invested US$35 million in Indian technology platform ShopX. The funds came from Fung Strategic Holdings a member of Fung Investments, the private investment vehicle of the families of Dr Victor Fung and Dr William Fung. ShopX is described…
Toys R Us Asia has repeated earlier assertions that its business will not be affected by the liquidation of Toys R Us stores in the US and UK, amid reports that Australian operations would likely need to close. Toys R Us Asia’s joint-venture partner Fung…
Toys ‘R’ Us Asia may be taken over by to its local partner, the Fung Group. A deal could give Toys ‘R’ Us Asia a valuation of at least US$1 billion. The private holding company of Hong Kong’s billionaire Fung brothers is considering finding partners to join…
With revenue totalling HK$1.9 billion (US$245 million), Hong Kong-listed retailer Trinity Group lost HK$88.5 million last year. Trinity Group, which sells premium menswear brands in greater China and Europe, says it continued to be dragged down by the…
Virtual-reality fitting rooms, magic mirrors and 3D printing are among innovations being trialled at a large-scale laboratory in Shanghai where businesses can experiment with omnichannel techniques and trends shaping the future of retail. The initiative is…
