Business
Mainland Chinese help HK's SHKP ring up record sales
Twelve shopping centres of Hong Kong's largest real estate developer Sun Hung Kai Properties (SHKP), including the flagship APM mall in Kwun Tong, saw record sales of HKD12.9 billion (USD1.66b) last year, driven by mainland Chinese tourists.
Maureen Fung Sai-yin, the general manager of SHKP's leasing department, said this was a 30 percent rise on the year before.
UAE's Chicking Fried Chicken enters N India, to open 300 outlets worldwide by 2015
Halal fast food restaurant Chicking Fried Chicken has made its entry into northern India by opening its first outlet in New Delhi, which is spread across 1,000 square feet.
Starbucks to enter India, targets 50 outlets by year-end
Starbucks will open its first coffee shops in India in August or September, a year later than originally planned, and aims to have 50 outlets by year-end through a tie-up with the Tata group, the country's biggest business house.
The Seattle-based chain, known as much for the trendy urban lifestyle it represents as its costly cups of coffee, enters a market with a fast-growing middle class and plenty of competition in the small but fast-growing coffee segment.
China a fit for fast fashion retailers
With an eye on the rising spending power of China's middle class, international fast-fashion retailers are rushing to open stores there, particularly in second-tier cities.
Among the latest to declare their expansion plans is Spanish clothing retailer Mango, which plans to open a further 800 stores in China as part of a global expansion programme, according to media reports.
European fashion company C&A is also expanding aggressively in China. It has already opened 11 stores there and plans to have 150 stores distributed all over the country by 2015.
Spanish fashion brand Kelme to enter India
Spanish sportswear and fashion brand Kelme is entering India through a licensing and distribution agreement with Global Overseas and plans to open up to 10 stores during the first year of operations.
Ghaziabad headquartered Global Overseas is a part of the Singapore-based Sports Fashion (SF). Kelme is owned by New Millennium Sports that has tie up with SF for Asia-Pacific region.
Global Retail Theft Barometer Study finds shrinkage in Japan is the 2nd-highest in the world
According to the fifth annual edition of the Global Retail Theft Barometer, retail shrinkage rate in Japan is 1.04 percent of sales, the third-lowest in the world. However, this rate was up 4 percent compared to the previous year. The total shrinkage amount – profit loss due to customer and employee theft, supplier/vendor fraud and administrative errors – in Japan reached JPY774 billion (USD9.96b), the second-highest worldwide, representing almost 53 percent of the total sum in the Asia-Pacific.
Richemont Asia-Pacific sales post highest growth among all regions in FY11
Swiss luxury goods group Richemont on Thursday posted a sharp increase in fiscal 2011 profit, driven by strong sales growth across all segments and regions.
Sales increased 33 percent to EUR6.89 billion (USD9.85b) for the year ended on 31 March 2011 from EUR5.18 in the previous year. Gross profit rose 38 percent from EUR3.19b to EUR4.39b. Operating profit jumped 63 percent to EUR1.36b, double the rate of growth in sales.
Taking Stock: How to make your business run better and more profitably
Barbara Wold has more than 45 years of first-hand retail experience, and is one of the industry's most sought-after speakers and consultants. These are her tips for "How to Make Your Business Run Better and More Profitably":
Asia consumers going "green" and purchasing more sophisticated home appliances
The increasing spending power of consumers in Asia has been a boon to many industries thanks to the economic recovery, including the major household appliances sector which has managed to bounce back from its weakened performance of last year.
Interview: China consumers holding back on spending, says luxury goods CEO
As China's economy slows, Hong Kong-based luxury goods distributor Jebsen & Co. is seeing early signs of weaker consumer demand. CNBC's Christine Tan spoke to group managing director Helmuth Hennig about prospects in China, a country that is expected to surpass Japan as the world's biggest luxury market this year.
