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  • July 24, 2014
  • Last updated: 5:50pm
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Results 1 - 10 of 18 for corruption

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  1. Business - China Business - RETAILING

    Beijing's anti-corruption drive hits China's luxury market

    Posted Dec 18th 2013, 06:13am by Daniel Ren

    ... The Communist Party's crackdown on corruption has hit luxury sales on the mainland, with consumption of luxury goods now lagging far behind retail sales growth. According to global consultancy Bain ... and weed out corruption has had a large impact on "gifting luxury", Bain says, adding that watches and menswear have taken the biggest hit. Most brands are conservative about expansion ...

  2. Business - China Business - RETAILING

    Slump in China’s wine market forces shake-out, rethink

    Posted Jun 03rd 2014, 10:41am by Benjamin Robertson

    ... business," said Don St Pierre Jnr, co-founder of ASC Fine Wines. The impetus for change has been President Xi Jinping's anti-corruption drive. The campaign targets conspicuous spending ... bottles of wine annually, and sales fell 15 per cent last year. She blamed the anti-corruption crackdown and said a lot of restaurants had closed down. "I am one of the few to welcome ...

  3. Business - Companies - RETAILING

    Beijing's corruption crackdown knocks growth prospects at jeweller

    Posted Mar 20th 2013, 12:00am by Celine Sun

    ... shops on the mainland this year as an anti-corruption campaign continues to take its toll on luxury sales across the border. The high-end watch and jewellery retailer saw its shares fall 4.7 per ... crackdown on corruption and gift giving may affect the sales of high-end watches and jewelleries, she said. Beijing has shown a tough line on tackling corruption since the country's new ...

  4. Business - China Business - RETAILING

    Shanghai outlet centre to promote affordable Italian luxury

    Posted Feb 27th 2014, 10:21am by Daniel Ren

    ... on conspicuous consumption and corruption. But while the crackdown has slowed growth in luxury retail sales and caused some commercial developers, international brands and shoppers to shun the very term ... confidence in the sector. "The luxury market is related to design and creativity," he said. "Unfortunately, however, it is synonymous with lavish spending and corruption ...

  5. Business - Companies - RETAILING

    Prada pins growth hopes on China's luxury sector

    Posted Apr 04th 2014, 01:14am by AFP

    ... down by the strength of the euro and an increased tax charge. As part of a crackdown on corruption, the mainland has imposed restrictions on lavish entertainment and the giving of expensive ...

  6. Business - Companies - RETAILING

    Chow Tai Fook's golden touch is lost on investors

    Posted Mar 22nd 2014, 01:30am by Jasper Moiseiwitsch

    ... because it is such a prominent brand in their home market. The firm today confronts the twin challenges of China's slowing economic growth and an anti-corruption drive that discourages the giving of expensive gifts to officials. Wong said the anti-corruption campaign has had a big impact on the sale of luxury items on the mainland, acknowledging that before the crackdown ...

  7. Business - Money - RETAILING

    Jewellers lose out in Beijing's anti-graft drive

    Posted Feb 08th 2013, 12:00am by Celine Sun

    ... drive The mainland's anti-corruption initiatives in the lead-up to the Lunar New Year are threatening to hurt sales of expensive trinkets from luxury retailers in Hong Kong. Shares of high-end jewellery and watch retailers slumped yesterday amid concerns that the anti-corruption push on the mainland would take its toll on sales of luxury goods. Emperor Watch & Jewellery, ...

  8. Property - Hong Kong & China - RETAILING

    Rise of online shopping forces mainland malls into rethink

    Posted Jan 22nd 2014, 04:34am by Peggy Sito

    ... plans by the big fashion labels was partly because of Beijing's crackdown on corruption and conspicuous spending. Also, as the population travelled more, retailers would begin targeting ...

  9. Business - Companies - RETAILING

    Mixed results for jewellery companies

    Posted Aug 30th 2013, 12:00am by TIFFANY AP

    ... The anti-corruption drive probably played an important part at dampening the overall growth of sales of luxury goods "The anti-corruption drive probably played an important part at dampening the overall ... in the short term because… [of] the high proportion of sales of gold products and China's anti-corruption measures that might rein in luxury spending," said a research report from Nomura. ...

  10. Business - Companies - RETAILING

    Fonterra pushes plans for own-brand milk in China

    Posted Sep 25th 2013, 10:35am by Reuters in Wellington

    ... Reuters in Wellington New Zealand dairy firm targets US$12.4 billion mainland market despite recent health scare and crackdown over corrupt sales practices Fonterra pushes plans ... and Beijing's crackdown on foreign firms over alleged corrupt sales practices. China is a magnet for foreign milk formula makers, with its US$12.4 billion market expected to double by 2017. Foreign ...




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