Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns in China.

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British beauty retailer Space NK closes China stores after two years

British multi-brand beauty retailer Space NK has ended its physical presence in China, just two years after its debut there, closing all eight stores.

Consumers swamp Luckin Coffee app in wake of controversy

Disgraced Chinese coffee giant Luckin has apologised to customers and promised business as usual following a widely publicised admission that the firm had fabricated sales figures.

Alibaba promises ‘spring thunder’ to support SMEs during the coronavirus crisis

Alibaba group chairman and CEO Daniel Zhang has launched the “2020 Spring Thunder Initiative” to help small and medium businesses ride out the coronavirus pandemic.

How Chinese jeweller Ideal transformed staff into live-streaming KOLs

Shenzhen’s multi-brand jeweller Ideal has transformed its 18-year-old traditional business model to a New Retail business virtually overnight in light of the coronavirus crisis.

Nervous Mainland Chinese consumers slow to return to stores

Mainland Chinese retailers are discovering that a return to normal business after the coronavirus will take longer than expected.

H&M’s sales recovery derailed by coronavirus

A recovery in fast-fashion retailer H&M’s sales and profit has been muted by the impact of the coronavirus pandemic on stores across Asia.

Alibaba urges offline retailers to livestream on Taobao Live

Alibaba Group’s livestreaming channel Taobao Live is planning to attract more than 200,000 businesses to its platform this year.

Luckin Coffee’s value crashes after it admits falsifying sales data

Chinese chain Luckin Coffee has admitted senior executives exaggerated sales to boost the company’s worth and reputation.

Pinduoduo raises US$1.1 billion in private funding

Chinese e-commerce platform Pinduoduo has successfully raised US$1.1 billion in a private funding round.

Gome Retail boosts GMV, cuts losses as restructure continues

Gome Retail says its revenue last year fell, but it more than halved its annual loss as its restructuring programme continued to pay dividends.

Featured store: Shiwu store in Nanjing, China

Shiwu, a lifestyle store retailing hand-made Japanese products in Nanjing, has been fitted out with mesh panels dipped in paper pulp, along with polycarbonate and OSB timber.

Tse Sui Luen set for hefty loss as protests, pandemic impact sales

Jeweller Tse Sui Luen is projecting a loss of US$10.3 million for the year to March – a stark reversal from last year’s net profit of $6.96 million.