Rovio Entertainment Ltd, the developer of Angry Birds, expects its China revenue to triple in 2012, thanks to booming license income from Angry Birds products such as T-shirts, toys and amusement parks, Paul Chen, Rovio China's general manager, said on Friday.
Rovio on Friday opened an Angry Birds brand store in Shanghai, the first one outside its home base in Finland. The store in Xujiahui area, which sells licensed apparel and iPhone cases, is the first of 25 such outlets scheduled to open in China by the end of this year.
Carrefour, the world's largest retailer after Walmart, is learnt to be rationalising its expansion plans in India, prompted by a worsening global economy, particularly in Europe.
Pune was a major destination the France-based chain was looking at for its cash and carry (wholesale) operations, but that's now on the backburner, according to two sources. Some of the other store openings it had planned in the country for 2012 might also get delayed, they said.
Hong Kong, Singapore, Shanghai, Beijing and Tokyo are among the top 20 cities where international retailers have the largest presence, according to the 2012 edition of How Global is the Business of Retail? by global property adviser CBRE.
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.
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.
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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.
Business operators around Bangkok's Ratchaprasong intersection have resumed spending on marketing and renovations now that the situation in the area has almost returned to normal after political protests moved elsewhere and the emergency decree was revoked.
Korakot Srivikorn, the Ratchaprasong Square Trade Association's marketing communications director, said trade in the prime shopping district has rebounded significantly and the occupancy rates of eight luxury hotels in the area now stood at 70 percent, compared to below 20 percent during the demonstrations.
A strike at a Chinese factory that manufactures shoes for Adidas and Nike has spread to a sister factory in a neighbouring province, as thousands of workers gathered to protest against what they said were unfair pay and benefits.
About 2,000 workers clocked in on Monday, but did not work, at the Yue Yuen factory complex in Jiangxi province, southern China, joining at least 10,000 employees at another Yue Yuen factory complex in Dongguan, Guangdong province, who have been on strike since 14 April.
Indonesia will increase the luxury tax on luxury cars to 125 percent from 75 percent starting this month, aiming to narrow its trade deficit by slowing imports and curbing spending by the wealthy, however the actual effects may be limited because it applies to only a slim fraction of the overall auto market.