All China articles – Page 29
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News
Lawson to increase capital spending to aid expansion
Japanese convenience store chain Lawson will increase its capital spending to $50m (£32m) in China during 2011, with the aim of opening about 130 convenience stores.Cities earmarked for additional stores include Shanghai, Chongqing, Shenyang, Dalian, Chengdu and Beijing. Lawson president Takeshi Niinami said: “It’s time to go to China. We ...
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AnalysisTesco’s Far Eastern promise
Combining its global scale with local knowledge is key to Tesco’s growth in Asia, incoming chief executive Phil Clarke tells Jennifer Creevy
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Suning to purchase 21m in shares in LaOX
Chinese consumer electronics retailer Suning is to purchase a further 21 million shares in Japanese retailer LaOX. After the purchase, Suning will hold 33.08% of LaOX shares. Suning will also nominate two new board directors, which needs to be approved later by the shareholders.
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NewsMango plans major global push with one shop opening every day
Spanish fashion retailer Mango is planning to take on rivals such as Inditex and H&M by opening a store a day worldwide and rapidly ramping up its expansion in China.
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Apple opens Shanghai flagship
Consumer electronics giant Apple has unveiled its second flagship store in China. The store, which opened on July 10, is located near Shanghai’s famous Oriental Pearl Tower, in the city’s financial district.“We are thrilled to open the first of many new stores in China in this incredible location,” said Apple ...
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News
Gap plans to open stores in China
US retailer Gap plans to open two stores each in Beijing and Shanghai later this year and will offer online shopping in China.The fashion retailer said the store openings are part of a long-term expansion strategy that involves more stores in major regions, including Hong Kong. The China stores will ...
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News
Sa Sa profit up 20.6%
Asian beauty retailer Sa Sa reported group turnover for the year ended March 31 rising 13.9% to HK$4.11bn (£350.7m). The group’s profit for the year grew 20.6% to HK$381.1m (£32.5m).In Hong Kong and Macau, the group’s turnover increased 10.3% to HK$3.29bn (£280.8m). Sales in mainland China market increased 61.3% while ...
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News
Chen Xiao to step down as Gome president
Chinese electronics retailer Gome has announced that Chen Xiao is to step down as president. Xiao will remain as chairman. He has held both roles since January 2009. Wang Junzhou has been named as president.The news follows Gome’s closure of some loss-making stores in recent years.
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News
Galeries Lafayette opening stores in China and Indonesia
French department store retailer Galeries Lafayette aims to open stores in China and Indonesia. The chain had already opened stores in Beijing, Singapore, Seoul and Tokyo in the 1990s but they were unprofitable and closed down.Galaries Lafayette is taking a more careful approach to Asian expansion this time and has ...
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NewsGap reveals plans for China
Gap has revealed plans to enter into the Chinese market, starting with four stores and an online site to launch towards the end of this year, and has poached senior executives from Tesco and Best Buy to lead its charge into the country.
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NewsTed Baker targets China and Japan for big roll-out
Quirky fashion retailer Ted Baker is targeting China and Japan as it continues its aggressive international drive.
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AnalysisThe Chinese market
Last week Monsoon began a big push into China, where it is understood to be aiming to open up to 1,000 stores. Why are retailers heading east?
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News
Gome to invest in ecommerce
Chen Xiao, president of electrical appliances retailer Gome, has revealed plans to invest in ecommerce to grow sales. Online sales were just Yn400m (£40.4m) in 2009, accounting for less than 1% of total retail sales.About 40% of its products are now available for sale online and the service is only ...
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News
Lianhua to open 500 stores this year
Supermarket operator Lianhua plans to spend Yn600m (£60.66m) on opening 500 stores this year. They will include 15 shopping centres, 200 convenience stores and 285 supermarkets, mainly in the Yangtze River delta region. The retailer is looking to compete with the aggressive expansion of foreign players like Walmart and Carrefour.After ...
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NewsMonsoon guns for 1,000 stores in China push
Womenswear retailer Monsoon is understood to be plotting a roll-out of as many as 1,000 stores in China within the next five years.
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News
Carrefour China in talks for Baolongcang outlets
Carrefour China is in talks with local hypermarket operator Baolongcang to buy out its outlets, the local press has reported.Baolongcang has 14 hypermarkets in small cities in Hebei and Shandong province. It reported total sales of CNY3.16bn (£317.2m) in 2009.Wu-Mart and China Resources Enterprise are rumoured to also be interested ...
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News
Gome sales fall
Electronics retailer Gome has benefited from its recent store closure strategy.While sales for the year to December 31 fell 7% to Yn42.7bn (£4bn) - the result of closing down 189 underperforming stores - net profit jumped 34.4%.Gome revealed that the government’s stimulus policies helped to lift sales and operating ...
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News
H&M sales jump 7%
Clothing retailer H&M has reported results for the first quarter to February 28, with sales jumping 7% to Skr24.85bn (£2.1 bn), compared with the same period last year. In local currencies, the increase was 13%.H&M had 1,992 stores at the end of February, up from 1,748 a year ago. ...