All China articles – Page 27
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NewsMango plans major global push with one shop opening every day
Spanish fashion retailer Mango is planning to take on rivals such as Inditex and H&M by opening a store a day worldwide and rapidly ramping up its expansion in China.
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Apple opens Shanghai flagship
Consumer electronics giant Apple has unveiled its second flagship store in China. The store, which opened on July 10, is located near Shanghai’s famous Oriental Pearl Tower, in the city’s financial district.“We are thrilled to open the first of many new stores in China in this incredible location,” said Apple ...
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Gap plans to open stores in China
US retailer Gap plans to open two stores each in Beijing and Shanghai later this year and will offer online shopping in China.The fashion retailer said the store openings are part of a long-term expansion strategy that involves more stores in major regions, including Hong Kong. The China stores will ...
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Sa Sa profit up 20.6%
Asian beauty retailer Sa Sa reported group turnover for the year ended March 31 rising 13.9% to HK$4.11bn (£350.7m). The group’s profit for the year grew 20.6% to HK$381.1m (£32.5m).In Hong Kong and Macau, the group’s turnover increased 10.3% to HK$3.29bn (£280.8m). Sales in mainland China market increased 61.3% while ...
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Chen Xiao to step down as Gome president
Chinese electronics retailer Gome has announced that Chen Xiao is to step down as president. Xiao will remain as chairman. He has held both roles since January 2009. Wang Junzhou has been named as president.The news follows Gome’s closure of some loss-making stores in recent years.
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Galeries Lafayette opening stores in China and Indonesia
French department store retailer Galeries Lafayette aims to open stores in China and Indonesia. The chain had already opened stores in Beijing, Singapore, Seoul and Tokyo in the 1990s but they were unprofitable and closed down.Galaries Lafayette is taking a more careful approach to Asian expansion this time and has ...
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NewsGap reveals plans for China
Gap has revealed plans to enter into the Chinese market, starting with four stores and an online site to launch towards the end of this year, and has poached senior executives from Tesco and Best Buy to lead its charge into the country.
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NewsTed Baker targets China and Japan for big roll-out
Quirky fashion retailer Ted Baker is targeting China and Japan as it continues its aggressive international drive.
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AnalysisThe Chinese market
Last week Monsoon began a big push into China, where it is understood to be aiming to open up to 1,000 stores. Why are retailers heading east?
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Gome to invest in ecommerce
Chen Xiao, president of electrical appliances retailer Gome, has revealed plans to invest in ecommerce to grow sales. Online sales were just Yn400m (£40.4m) in 2009, accounting for less than 1% of total retail sales.About 40% of its products are now available for sale online and the service is only ...
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Lianhua to open 500 stores this year
Supermarket operator Lianhua plans to spend Yn600m (£60.66m) on opening 500 stores this year. They will include 15 shopping centres, 200 convenience stores and 285 supermarkets, mainly in the Yangtze River delta region. The retailer is looking to compete with the aggressive expansion of foreign players like Walmart and Carrefour.After ...
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NewsMonsoon guns for 1,000 stores in China push
Womenswear retailer Monsoon is understood to be plotting a roll-out of as many as 1,000 stores in China within the next five years.
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Carrefour China in talks for Baolongcang outlets
Carrefour China is in talks with local hypermarket operator Baolongcang to buy out its outlets, the local press has reported.Baolongcang has 14 hypermarkets in small cities in Hebei and Shandong province. It reported total sales of CNY3.16bn (£317.2m) in 2009.Wu-Mart and China Resources Enterprise are rumoured to also be interested ...
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Gome sales fall
Electronics retailer Gome has benefited from its recent store closure strategy.While sales for the year to December 31 fell 7% to Yn42.7bn (£4bn) - the result of closing down 189 underperforming stores - net profit jumped 34.4%.Gome revealed that the government’s stimulus policies helped to lift sales and operating ...
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H&M sales jump 7%
Clothing retailer H&M has reported results for the first quarter to February 28, with sales jumping 7% to Skr24.85bn (£2.1 bn), compared with the same period last year. In local currencies, the increase was 13%.H&M had 1,992 stores at the end of February, up from 1,748 a year ago. ...
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AnalysisCan Walmart overcome Chinese etail challenges?
Walmart plans to launch an ecommerce operation in the world’s most populous nation. With more than 380 million internet users - more than the entire US population - China represents a massive opportunity for the world’s largest retailer. However, growth will not come easy and Walmart must be able to ...
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Suning sales up to £5.46bn
Consumer electronics retailer Suning has reported that preliminary full-year net sales jumped 16.8% to Yn58.3bn (£5.46bn) against the previous year. Net profit hit Yn2.88bn (£269.9m), up 32.8% year on year. Comparable store performance improved 7%. Suning opened 182 stores in 22 cities over the year, and closed 53 stores.
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Deal between Suning and Citicall Retail Management
Suning, one of the leading electrical appliance retailers in China, has struck a deal to buy Hong Kong-based Citicall Retail Management for $4.5m (£2.76m), sources reported. Suning is due to complete its takeover of Citicall Retail Management by March. The Shenzhen-listed enterprise wants to extend its presence in Hong Kong ...