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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.
Lotte opens duty-free shop at Jakarta airport, to add more shops in Indonesia
South Korean-based retail giant, the Lotte Group, opened on Tuesday its first duty-free shop outside Korea at the Soekarno-Hatta International Airport in Jakarta. Lotte Duty Free CEO Choi Young-soo said during his speech at the inauguration that the 880-square-metre shop was Lotte's first international duty-free shop, and was set to be the biggest in Southeast Asia.
Lotte also has duty-free outlets in 10 locations in Korea.
Ferragamo to enter 7-8 new cities, remains confident in China
China's economic growth is poised to weaken to 8.5 percent this year from about 9.2 percent in 2011, according to the median estimate of economists in a Bloomberg News survey. In the fourth quarter of last year there appeared to be a "gradual softening in consumption" in China's luxury industry, Bain & Co. said in December.
Concerns about a China slowdown? Not Salvatore Ferragamo.
Japan's FamilyMart plans to open 600 stores in Philippines, Indonesia
FamilyMart Co., Japan's largest convenience store operator in Southeast Asia, plans to open 600 stores in the Philippines and Indonesia, tapping demand from young people as an aging population saps growth at home.
The retailer intends to have 300 stores in each country by 2015, expanding on a network that includes more than 10,700 shops outside Japan, Masaaki Kosaka, director of overseas operations, said in an interview. He declined to say how much the expansion would cost.
Gap in aggressive China expansion
Gap Inc, US's biggest apparel retailer, is set to accelerate its roll-out of new stores in China this year as part of its global expansion strategy.
The San Fransisco-based clothing and accessories retailer unveiled two new stores on Nanjing Road E. and Huashan Road in Shanghai on Wednesday, bringing the total number of its self-branded shops in China to 14 from four in 2010.
Paradigm India to open 100 Fashion Station stores pan-India by 2015
Joining the bandwagon of organised retail in apparels, Paradigm retail India is planning to launch 100 "Fashion Station" stores pan-India by 2015 starting from the Indian state of Uttar Pradesh and Uttarakhand.
By the end of current financial year, the company plans to open 10 stores in major towns of the two states and later expand in other states, including Bihar, Assam, Madhya Pradesh, Rajasthan etc.
Disney to open 25-40 stores in China over the next 3 years
Walt Disney Co is on track to open its first store in China in fall 2012, and is committed to opening 25 to 40 stores in the world's most populous country over the next three years, a top company executive told Reuters.
The news comes as the world's largest media conglomerate, home to iconic brands such as Mickey Mouse and Winnie the Pooh, looks beyond mature markets such as the US and Europe for new sources of revenue.
Chinese visitors help propel HK sales to record high
Retailers in Hong Kong look to have had their best Christmas ever, with overall retail sales expected to have surged as much as 25 percent from a year ago to a record high, the Retail Management Association says.
Miu Miu opens its 10th store in S Korea
Prada Group's Miu Miu has inaugurated last week a new store in the capital of Seoul, its 10th store in South Korea. The new Miu Miu store is situated within the prestigious Lotte World Duty Free Shop and is exclusively dedicated to women's ready to wear and accessories.
Designed by Roberto Baciocchi, the Miu Miu space is aimed at providing an intimate and sophisticated experience.
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.
