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.
The Australian statutory office Fair Work Ombudsman has warned the major supermarket chains could face penalties if they fail to ensure trolley workers are paid fairly.
In a speech on Friday, Fair Work Ombudsman Natalie James said she was concerned the grocery giants were solely focused on cost, placing vulnerable staff at risk.
China's Wanda Group, Baidu and Tencent announced on Friday that they will establish the Wanda E-commerce Company, a Hong Kong registered joint venture with an initial capital of CNY5 billion (USD814 million).
The partnership expects to integrate their corresponding products and strengths to create an online-to-offline (O2O) e-commerce business model. Plans also include developing payment and e-commerce financial products, building a universal customer loyalty program, big data integration, Wi-Fi sharing, and product integration.
Thai consumers remain cautious spenders, particularly rural residents who find it difficult to earn more while their household debts are high, says the London-based Kantar Worldpanel, a consumer research firm under the WPP Group.
Its annual shopping behaviour survey of 4,000 households nationwide found Thai consumers made 4.9 billion shopping trips for consumer goods in the 52 weeks ending on 13 July. That was 4.1 shopping trips on average per week from Thailand's 22.5 million households.