Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns within the Hong Kong retail sector.

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Gap shuts stores in Hong Kong

Gap has became the latest retail victim of Covid-19 in Hong Kong, shutting its flagship store in Tsim Sha Tsui and at least one other store.

Global Brands Group posts massive US$598 million loss

Global Brands Group has reported a net loss attributable to shareholders of US$598 million in the year to March.

Struggling Esprit axes more stores, 1200 staff

Apparel chain Esprit will axe 1200 employees globally, including 100 in its Hong Kong office and 800 store employees in Germany as part of its ongoing restructuring programme.

AS Watson vows to reduce plastic waste, use only sustainable palm oil

AS Watson Group is the first signee to the New Plastics Economy global commitment to reduce plastics waste.

Maxim to open 15 Shake Shacks in Southern China

American fast-casual restaurant chain Shake Shack is planning to open at least 15 new venues in South China by 2030.

Retail sales in Hong Kong plunge by a third in May

May retail sales in Hong Kong plunged 32.8 per cent, as the impact of the closed border with the mainland due to Covid-19 continued to reduce shopper numbers.

VF Corporation to boost Greater China management ranks

Apparel, footwear and accessories firm VF Corporation is making a series of organisational changes it says will “strengthen and accelerate” its business strategy in Asia Pacific, with a particular focus on China.

Asia-Pacific luxury-goods market tipped to shed US$2.1 billion this year

The Asia-Pacific luxury-goods market is projected to sink by US$2.1 billion this year as consumers switch from big-ticket items to affordable luxury.

Reduced rents, high-end products help Oriental Watch stay in profit

Listed Hong Kong timepiece retailer Oriental Watch Holdings has weathered the multiple crises of the last year to record a profit of US$12.9 million.

Jeweller Luk Fook sees early signs of recovery in Hong Kong retail

Hong Kong-listed jeweller Luk Fook has reported early signs of a recovery in the Hong Kong market this month, despite the border with China still closed.

Lego Stem-themed pop-up store launched in Hong Kong

Hong Kong shopping destination Olympian City has partnered with global toy brand Lego to launch Lego Technic – a Stem-themed AI concept store.

Nike sales in China stay strong despite Covid-19 impact

Nike sales in China surged 11 per cent last year, marking the sixth consecutive year of double-digit growth in the market for the US sports brand.