Tag Archives: China

Prada’s sales surge on rapid greater China growth

Women Shopping

(Source: Inside Retail Asia | August 3, 2018) Asia has once again energised luxury fashion label Prada’s sales in the first half year. The company has reported net revenue up 9.4 percent in the six months to June 30 (although a lesser 3.3 percent at current exchange rates). However Prada Asia-Pacific sales surged 13.8 percent at constant exchange rates, or ...

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Louis Vuitton prices in China have been cut after duties relaxed

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(Source: Inside Retail Asia | July 9, 2018) Louis Vuitton prices in China have been reduced, the French luxury retailer saying it was responding to the government’s relaxing of duties on consumer goods. The Chinese government has been enacting a number of changes over the past several years to lower import duties and increase domestic spending on consumer goods. Prior ...

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Costa Coffee China sales outpace home market

Photo from: Communicaffee.com

(Source: Inside Retail Asia | July 2, 2018) UK-headquartered Costa Coffee says sales in China have underpinned solid growth in its Asian operations. Costa has 459 stores in China, where sales rose 4.9 per cent in the first half year as Chinese continue to boost their coffee consumption. The company plans to open a further 100 stores in China before ...

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SKP opens 20-story luxury department store in Xi’an

Photo from: sybarite.com

(Inside Retail Asia | June 21, 2018) London-based architectural firm Sybarite has created a 250,000sqm, 20-storey luxury department store in the ancient Chinese capital of Xi’an for high-end retailer SKP. At almost three times the size of Harrods, the new mall showcases over 1000 global brands alongside a select range of domestic names in designer fashions. It is the company’s ...

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Google to invest $550 million in China e-commerce giant JD.com

Photo from: betanews.com

(Source: ABS-CBN News, AFP | June 18, 2018) Google will invest more than half a billion dollars in China’s second-largest e-commerce company JD.com as part of a move to expand retail services around the world, the companies said Monday. The announcement comes as US giant is pushing Google Shopping, a platform allowing customers to compare prices between different sellers, which ...

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Muji opens flagship store on JD.com

Muji

(Source: Retail in Asia | June 8, 2018) Muji will launch an online flagship store on JD.com, and promote the partnership with posters in 231 of its stores throughout China, it announced. This will make it easier for online Chinese consumers to find and purchase Muji’s full range of Japanese product categories, including clothing, household items, home furnishing and even ...

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China to slash import tariffs on many consumer products by 60 percent from July 1

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(Source: Manila Bulletin | June 1, 2018) China will cut import tariffs on nearly 1,500 consumer products ranging from cosmetics to home appliances from July 1, in a bid to boost imports as part of efforts to open up the economy. The move would be in step with Beijing’s pledge to its trade partners – including the United States – ...

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BreadTalk Group to broaden brand mix as bakeries feel the pinch

breadtalk

(Inside Retail Asia | May 4, 2018) Diminished returns from BreadTalk Group’s bakeries in Hong Kong and Mainland China saw the division’s sales slip 4.5 percent in the first quarter of this year. However, group revenue rose 0.5 percent to S$148.5 million (US$111.55 million) as other divisions compensated. And on a like-for-like basis, BreadTalk’s core food and beverage business posted ...

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Sales staunch for Hermes International

hermesHK

(Inside Retail Asia | May 4, 2018) Despite currency fluctuations knocking out €104 million (US$124.5 million) of revenue, Hermes International reports solid first-quarter sales with China again a hero. Excluding Japan, Asia achieved 16 percent growth. Japan continued with outstanding growth of 8 percent. In January, the group opened a Landmark Prince’s flagship store in Hong Kong. The French luxury ...

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IGD Asia: why China’s top 10 grocers shine

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(Source: Inside Retail Asia | May 3, 2018) Leaders in China’s retail grocery market are growing at a rate that almost doubles that of the entire sector, according to new research from IGD Asia. It predicts the top 10 retailers will achieve 10.4 percent growth by 2022, compared to 5.8 percent for the overall market, but anticipates this will come ...

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