protests Archives - Inside Retail Asia
Hong Kong street-front rents have plunged by 54 per cent from their peak in the first quarter of 2013, according to data from real-estate advisor Savills.
With public transport being disrupted almost daily for the last week or more, retailers are closing stores not just because of protests but because to ensure the welfare of their staff.
American brand Vans, known for its skateboarding culture and popular among youth, is currently facing backlash over the retraction of protest-themed submissions for its Custom Culture shoe design contest.
Hong Kong-listed jeweller Tse Sui Luen says “social unrest” in Hong Kong and ongoing Sino-US trade tensions have caused a drop of more than 90 per cent in the company’s half-year profit.
Hong Kong beauty retailer Sa Sa is in discussion with landlords over rent reductions and will reduce staff as it tries to address falling sales.
“Dozens” of smaller Hong Kong retailers will be forced to close their doors as ongoing protests – now into their 15th week – impact trade.
Lifestyle apparel brand Bossini has warned shareholders its loss this year will blow out to about $139 million, citing Hong Kong’s rolling protests.
Hong Kong retail sales in July plunged by 11.4 per cent as ongoing protests and the China-US trade war took their toll.
Global e-commerce giant Amazon has been heavily criticised on Chinese social media for allowing pro-Hong Kong merchandise to be sold on its platform.
Jewellery retailer Swarovski has issued a sweeping apology over implying that Hong Kong is not part of China.
The parent company of Times Square and Harbour City says business for its retail tenants has become more difficult in the wake of ongoing protests and the China-US trade war.
Hong Kong protests ramped up on Monday, making for retailers worst day yet as the tumult enters its third month.