Pro-democracy protests paralyzing the center of Hong Kong will deal another blow to retailers already suffering as wealthy mainlanders pare their spending. Hong Kong’s economy relies on spending from rich Chinese to keep it ticking along. But a crackdown on corruption led by President Xi Jinping has led to a slowing in the kind of conspicuous consumption that led to sky-high sales of Gucci bags and Prada shoes in Hong Kong in recent years.
Chinese luxury footwear brand Stella Luna is looking to step out of their comfort zone and into more European markets. After seeing the success of their flagship Parisian store in the Saint-Germain district, three more stores are currently in the works.
Stella Luna has confirmed that two more flagships will open in Paris; one in September on Rue du Faubourg Saint Honoré, and a second near the Champs Élysées. Both locations are in popular shopping destinations and are expected to yield high-traffic and high-profile clientele.
With easing political tensions the past couple months, major retailers have resumed their business and marketing plans the rest of the year.
Siam Centre will introduce a new multi-fashion zone while Foodland Supermarket plans to open a new branch on Phetkasem Road and Robinson Department Store expects to add six new stores.
Thailand's Central Group expects its retail sales in the last four months of this year to outpace first-half performance with the interim government returning economic stability, which is increasing consumer spending.
Chief executive Tos Chirathivat sees strong signs of economic growth after sales and visitors jumped starting in July. Investors, tourists and consumers have been more confident since the 22 May coup, driving spending sentiment across the board, he said.
Mainland Chinese are still traveling to Hong Kong, but their appetite for shopping there has diminished.
Reports by the Hong Kong Retail Management Association show that visitors increased by 20 percent in March and April of this year, but retail spending fell by almost 10 percent.
The Mall Group, Thailand's number two retail chain, earmarked THB1.2 billion (USD36.9 million) for second-half marketing activities to drive 2014 sales to reach its THB50-billion target.
Executive vice-president Chamnarn Maytaprechakul said the group would separate marketing teams to handle campaigns for Siam Paragon, The Emporium and The Mall shopping malls, effective next month.
Having a specific marketing team will enable it to better understand customers and offer proper services, products and activities to match target buyers for these three retail stores.
Indian e-commerce companies may run into more competition in the months ahead with global entities such as Alibaba, Rakuten and Walmart seriously eyeing the Indian market.
Founded by two ex-Amazon employees Sachin and Binny Bansal, Flipkart has been changing its formats and strategy over the last year with Amazon’s entry.
Convenience store chain operator FamilyMart is to open at least 200 new stores in China this year.
It will enter Beijing, Wuxi and Dongguan to tap into growing demand, remaining upbeat despite a general slowdown in consumer goods spending.
FamilyMart aims to enter one or two new cities each year over the next few years to drive sales growth in China, said Wei Yinheng, chairman of Ting Hsin International Group, FamilyMart's franchiser in China's mainland.
Lotte Shopping, South Korea's largest department store operator, plans to open four shopping malls in Indonesia by 2018 to tap growing consumer spending in a nation where half the population is younger than 30.
Lotte Shopping Avenue Indonesia will build two in Jakarta in the next three years, with the others in the country's second biggest city, Surabaya, and in Medan on Sumatra island, president director Suh Chang Suk said in an interview in the capital on Friday. There is a lot more potential for malls in the world's fourth-largest population, Suk said.
Philippine billionaire John Gokongwei is scouting chains of mom-and-pop outlets to buy into faster-growing Philippine towns as part of a plan to compete with retail stores controlled by the nation's richest man, Henry Sy.
Robinsons Retail Holdings, Inc. is looking for family-owned grocery or pharmacy chains of three to eight outlets outside the capital Manila, President Robina Gokongwei-Pe said in an interview. It plans to spend PHP26 billion (USD592.4 million) through 2016 on expansion, said Chief Financial Officer Dong Zapata.