Inside Retail Asia breaking news, supplier information, product launches and consumer campaigns within the Hong Kong retail sector.
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US tech giant Apple has reversed restrictions on buying multiple iPhones from its online store imposed last week.
“From a long-term perspective, the Covid-19 outbreak will not last for an indefinite period of time and consumers’ needs for health and fitness products will definitely be heightened, which will contribute to the group’s swift recovery after the crisis.”
Record store closures and bankruptcies in the retail industry dented turnover and profit for supply-chain solutions company Li & Fung.
Apple has placed restrictions on bulk purchases of its iPhones in some Asian territories after the coronavirus outbreak caused interruptions to supply.
Hong Kong’s economic recession has proved a strong incentive for locals to sell off their luxury goods, according to a report by the Nikkei Asian Review.
Premier Investments has weathered a string of global crises, including Brexit, Hong Kong protests and Australia’s bushfires to post record sales and earnings in the first half of the financial year.
Hong Kong jeweller Luk Fook says its sales halved during the first two months of this year as the coronavirus outbreak caused extensive lockdown of mainland Chinese cities.
A soft North American market saw global sales for luggage maker and retailer Samsonite International slip 1.8 per cent in the December year.
The Hong Kong government will allocate US$271 million in aid for around 70,000 retailers affected by the coronavirus outbreak.
Singapore-based bookstore-chain Popular has fallen victim to the coronavirus pandemic and shuttered all 16 stores in Hong Kong, effective immediately.
Twenty Hong Kong shopping malls have joined a program launched by Deliveroo to help food & beverage tenants survive the coronavirus by expanding their delivery business.