Tag Archives: China

China wants more healthy snacks

(Source: Sunstar | December 9, 2018) More Chinese are becoming increasingly health-conscious that resulted in increasing demand for wafer biscuits and fruit snacks. This is based on the recent Euromonitor Digest, released by the Department of Trade and Industry-Export Marketing Bureau. It says that wafers recorded strong current value sales growth in 2018 despite falling sales within sweet biscuits in ...

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China’s ‘Singles Day’ shopping frenzy sets sales records

(CTV News | November 11, 2018) Sales during the Singles’ Day sale in China have surpassed last year’s record, by raking up $30.8 billion in sales on the annual sales event 10th year. The spending binge has for years outshone Cyber Monday in the U.S. for online purchases made on a single day. This year’s tally was 27 percent higher ...

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China’s GDP growth slows to 6.5% in Q3

(Source: ABS-CBN News | October 19, 2018) China has recorded the lowest GDP growth in 9 years at the third quarter of the year, garnering only 6.5 percent growth in the July-to-September period year-on-year, according to official GDP figures released Friday by China’s National Bureau of Statistics. The rate is down from 6.8 percent and 6.7 percent in the first ...

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Chinese e-commerce giant Alibaba eyes more global talents

(Source: Inquirer.net | August 21, 2018) Jack Ma, founder of Alibaba Group Holding Ltd, built his business behemoth to help the masses. But when it comes to hiring, the company is increasingly eyeing an elite group-those with an international background. With the company’s stated goal of serving 2 billion customers within two decades, it comes as no surprise that Alibaba ...

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Estee Lauder reports strong growth in Hong Kong, China

(Source: Inside Retail Asia | August 21, 2018) Cosmetics giant Estee Lauder says it achieved sales growth in every global market last financial year, led by strong double-digit increases in China and Hong Kong. Every single category posted growth as well. Globally, Estee Lauder sales reached $13.68 billion, a 16 per cent increase on last year. Operating income of $2.05 ...

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Prada’s sales surge on rapid greater China growth

(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

(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

(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

(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

(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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