Stelux Holdings, a Hong Kong-based retailer of mid-priced spectacles and watches, said its co-operation with the private equity firm Boyu Capital creates operating synergies that will help it to turn around its China business within three years, aided by online sales and relocation to second-tier cities.
Alibaba.com, which operates an e-commerce website linking Chinese businesses to overseas buyers, posted a 6 percent fall in fourth-quarter net profit, the first fall in more than two years, as a weak global economy slowed exports.
Alibaba Group has signed a USD3 billion loan, giving it the committed funding required for taking Alibaba.com private, sources told Basis Point, a Thomson Reuters publication, on Monday.
The Philippines' multi-format retailer The Robinsons Retail Group has adopted Manthan System's solution that will enable the company to standardise and automate end-to-end order to purchasing cycle, get visibility across sales, inventory, and payment data through embedded analytics, and finally build sustainable and profitable relationships.
Tesco, the world's third biggest retailer, has signed a joint venture to build three more shopping malls in China as part of its plans to rapidly expand in the country.
The British supermarket group said on Monday that 50 percent of the venture would be owned by a consortium of Asian investors including Singapore's Metro Holdings.
The largest lender of India's Vishal Retail, the State Bank of India (SBI), is negotiating with new investors to try to help the beleaguered retailer.
Currently private equity player TPG has signed an MoU (memorandum of understanding) with Vishal Retail to help it make a turnaround in the business.
At the same time a corporate debt-restructuring package is on the cards comprising the retailer's biggest lender SBI along with a clutch of other banks.
TVS Motor Company has reported a net profit of INR20.29 crore (INR203 million, USD4.57 million) for the quarter ending in March, compared with INR14.62 crore (INR146 million, USD3.28 million) in the corresponding quarter the previous year – a rise of 38 percent.
Chinese television maker Skyworth Digital Holdings Ltd said on 22 March it has joined South Korea's LG Display Co. and state-owned Guangzhou-Kaide Technologies Development Co. in a venture that will build a USD4 billion liquid crystal display plant in China.