Fung Group Archives - Inside Retail Asia
“Multiple bids” of more than US$1 billion have been lodged for the 85 per cent share of the Toys R Us Asia joint venture with Fung Group.
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.
Toys R Us will sell or close all of its US and UK stores in coming months.
Toys R Us UK has been placed in administration after weeks of uncertainty.
Toys ‘R’ Us Asia may be taken over by its local partner, the Fung Group.
A Li & Fung restructure will free cash to invest in its digital supply chain ambitions.
Pure Group is seeking to sell, with insiders saying its value could reach as high as US$500 million.
Toys R Us Asia is investigating the feasibility of listing in Hong Kong.
With revenue totalling HK$1.9 billion, Hong Kong-listed retailer Trinity Group lost HK$88.5 million last year.
Hong Kong’s Fung Group has unveiled a large-scale ‘lab’ in Shanghai where it is testing a raft of high tech concepts which could shape the future of retailing.
Luxury menswear group Trinity is taking a cautious outlook after its revenue and profit declined in the year ended December 31.
A part of privately held Fung Group, Trinity operates 451 stores across brands including Kent & Curwen, Cerruti, Gieves & Hawkes, D’Urban and Intermezzo.
Trinity said sales fell by 3.7 per cent to HK$2.7 billion (US$347.6 million), with retail sales in Greater China down 5.3 per cent. Weak market demand caused the group to offer higher promotional discou…
Italian luxury handbag maker Furla is capitalising on China’s growing middle class and its increasing sophistication.
Furla, whose bags are priced from around 250 euros ($343) to 450 euros ($620), has partnered with Hong Kong’s Fung Group to open more than 100 stores in China.
It says it will open a flagship store in mainland China and is currently searching for a location.
According to CEO Eraldo Poletto, sales in China, this year, will grow by double-digit percentage, compared to a ‘h…