A consortium led by China's Fosun Group is investing in German retailer Tom Tailor Holding AG, bringing another Western brand under the private conglomerate's wing for expansion back at home.
Fosun, Tom Tailor's management and other investors are buying a 23.16 percent stake in the retailer, according to a Tom Tailor news release on Wednesday. The financial value of the sale wasn't disclosed.
The firm plans to bring Tom Tailor to more Chinese consumers, said Fosun President Wang Qunbin in the release.
Apple opened a new store in Chongqing Municipality in southwest China on Saturday, bringing the number of Apple stores in the Chinese mainland to 11.
Another Apple store is expected to be opened on 2 Aug. in Wuxi City in east China's Jiangsu Province, about a one-hour drive from Shanghai. Apple CEO Tim Cook said last year the company will open more than 25 stores in China in the future.
Singapore fashion house Raoul's plans to go global got a royal boost when UK's Kate Middleton donned its ready-to-wear pieces during her visit to Singapore with Prince William in 2012.
The label is available in 25 countries today, including fashion capitals Paris, London and New York. In addition to Western markets, Raoul has been making inroads into the Middle East since last year. Next up, it plans to launch Raoul in Japan and South Korea as well as the retail market every business wants a slice of: China.
The heir to KCE Electronics Group has taken over the business of Thefaceshop in Thailand from a fashion company, hoping to take it among the top three South Korean skincare brands there in the next two years.
Vice-president Pitharn Ongkosit said he and his friends in the media and marketing fields have come together to buy TFS (Thailand) Co, part of LM Fashion Group, which has had the rights to operate Thefaceshop in Thailand since March.
The Philippine licensee of 7-Eleven is expanding its scale of operations as it seeks to grow its stores to ward off intensifying competition in the convenience store business.
Philippine Seven Corp. is investing heavily to establish a footprint in Visayas in line with improving its nationwide market share, its top official said Tuesday.
Australia's popular all-in-one Crumpler bags are making inroads in Thailand amid fierce competition from brand-name fashion products.
Thailand's first Crumpler bag shop opened in CentralWorld earlier this month, after months of preparations in the middle of the anti-government protests.
After Bangkok, the Melbourne-based brand plans to open more shops in China, Japan and South Korea, according to David Roper, a co-founder of Crumpler.
Hong Kong remains an attractive destination for international retailers but fewer luxury brands are entering the market while more mid-tier brands are expanding there.
Leading US coffee chain Starbucks remains optimistic about premium coffee demand in Thailand, aiming to double its store count to 400 over the next five years in the face of fierce competition.
Murray Darling, managing director of Starbucks Coffee (Thailand) Co, said at least 30 new Starbucks stores will open each year during 2014-18 in Thailand, the fastest rate in ASEAN.
The company expects to reach 400 stores there by 2018.
Parkson, a premium fashion and lifestyle department store, has finally arrived in Jakarta, opening its doors last week at the upscale Lippo Mall Puri, St. Moritz, in West Jakarta.
Parkson is operated in Indonesia by Tozy Sentosa, which also operates Centro department stores at malls such as Plaza Semanggi.
Country Road has lifted both its annual sales and profit but remains unclear about whether the Australian retail mogul Solomon Lew will sell his stake in the fashion chain.
The retailer's sales rose 8 percent to AUD849.6 million (USD794.5m) and its pre-tax profit more than doubled in the 2013/14 financial year.