Hong Kong

Hong Kong Archives - Page 3 of 14 - Inside Retail Asia

CFS bans DailyDutch chocolate milk

CFS bans imports of DailyDutch milk beverage.

Sa Sa feels pinch of Chinese policy

China’s policy of one trip a week for mainlanders plus the strength of the Hong Kong dollar against a weaker yen have gouged sales for cosmetics retailer Sa Sa International.

Aland Hong Kong: Korea’s answer to Urban Outfitters

Aland Hong Kong – Korea’s answer to Urban Outfitters – now has three stores in the territory.

Singaporeans love to shop overseas

A survey by insurance company AIG shows 36 per cent of the 1205 Singaporeans polled go on holiday solely to shop.

Why do Singaporeans shop overseas?

A survey by insurance company AIG shows 36 per cent of the 1205 Singaporeans polled go on holiday solely to shop.

I.T. Limited sales rise despite Hong Kong

Apparel business I.T. Limited has boosted sales by 5.1 per cent to HK$3.393 billion in the first half year despite a slowdown in Hong Kong. But the company recorded a net loss of $31 million due to a non-recurring foreign exchange losspreviously reported totaling $79.6 million. Without that, profit would have increased by 32.8 per cent to $48.6 million. Gross profit increased by 1.4 per cent to HK$2.026 billion at a gross profit margin of 59.7 per cent, slightly down on the 61.9 per cent o…

Trinity signs David Beckham

David beckham takes a stake in the future of British heritage menswear brand Kent & Curwen.

Hong Kong retail sales stable

Hong Kong retail sales are not plummeting overall. New data shows watches and jewellery are clouding an otherwise positive story.

New MD for Tumi Asia

Fernando Ciccarelli has been named the new senior VP and MD of Tumi Asia. Ciccarelli joins the luxury travel luggage retailer after a decade and a half with Coach, Inc. “I have always admired Tumi’s focus on constant innovation, intelligent design and unparalleled performance,” he said in a statement. “The opportunity for Tumi in Asia is limitless and I am excited to be leading the next stage of growth for the brand in the region.” In his new role, he will be responsibl…

Hong Kong ends year on downer

Hong Kong retail spending slumped 3.9 per cent in December, reversing a healthy 4.2 per cent lift in November. It brought to an end a turbulent year when sales data was affected by street protests, China’s austerity drive and – in opposite impact – Apple’s launch of the larger format iPhone. Hong Kong’s Census and Statistics Department (C&SD) says after netting out the effect of price changes over the same period, the volume of total retail sales in December 2014 decreased by 1.3…

Multimillion dollar counterfeit goods ring busted

Hong Kong Customs and police have raided four properties, seizing nearly 4000 fake items in an ongoing clampdown on counterfeit rings in the city. The raids occurred in Mong Kok and Tsim Sha Tsui and resulted in the arrests of four men aged 23-47. The seized goods have an estimated value of HK$3.37 million (US$434,000) were seized. During an operation, suspected counterfeit goods were found mixed among genuine products in a retail store in Mong Kok. They were sold at the discount price to …

Chinese tax free spending leaps

Chinese travellers boosted tax free spending by 30 per cent year-on-year in the last quarter of 2014. And for the first time, Chinese shoppers accounted for more than one third of overall spending on tax free shopping, according to data from Global Blue, an international tax refund specialist. That’s the first time in any quarter. Shoppers from Taiwan, South Korea and Hong Kong also boosted their spend, significantly, but from much lower bases. Part of the reason for the dominance of …