Burberry sales slumped by half in Hong Kong in the third quarter – but the British luxury-fashion label is lifting its full-year forecast as revenue elsewhere compensates.
Mobile- and social media-centric online-to-offline strategies that provide seamless shopping experiences are a “must” in China’s new consumer era, according to the latest 10 Highlights of China’s Commercial Sector report.
Hong Kong-headquartered Luk Fook group has followed its archrival Chow Tai Fook in revealing plans to shutter stores in the territory’s tourist areas.
Chow Tai Fook Jewellery Group has revealed plans to shut about one in five of its Hong Kong stores, the majority of them in prime tourist areas.
Singapore retail sales in November remained sluggish, rising just 0.6 per cent year on year after motor vehicles were removed from the data.
Hong Kong retail sales plunged 23.6 per cent in November – a rate almost identical to October’s fall of 24.4 per cent which followed an 18.2-per-cent decline in September.
Uber-premium cosmetics brand Helena Rubinstein “is back” in travel retail, launching this week the first of a series of initiatives tapping into the Chinese market in particular.
China’s two e-commerce giants are driving the most growth in Asia’s online grocery market according to a new report from international researcher IGD.
A sale of the Tesco Asia business by its UK parent would prioritise shareholders over sound long-term economic strategy, says GlobalData.
Thousands of stores will close and 5600 jobs will be lost as Hong Kong retailers try to recover from a “severe” sales decline brought on by social unrest and declining mainland visitor numbers.
Hong Kong retail sales in October plummeted by the highest rate since records began. The Census and Statistics Department estimated the value of retail sales for the month at HK$30.1 billion, down by 24.3 per cent compared with the same month last year. That followed a revised fall of 18.2 per cent in September. And there is worse to come.
Convenience store operator 7-Eleven Malaysia Holdings is to boost its stake in Caring Pharmacy Group and take control of the chain.