Retailer hopes Old Navy will bridge China gap

Gap will have to fight for brand recognition in China for its Old Navy chain. Photo: AP

When Gap began an online campaign before it launched its Old Navy label in China, the iconic US clothing retailer asked its potential Chinese customers: have you heard of Old Navy?

Only a few had.

Monday, 3 March, 2014, 3:22pm

Shanghai outlet centre to promote affordable Italian luxury

Members of the mainland's increasingly affluent middle class, who are enjoying rising disposable incomes, are seen as the biggest consumers of luxury items. Photo: EPA

Luxury retail is not the most obvious target sector for mainland shopping centre developers in the wake of the Communist Party's crackdown on conspicuous consumption and corruption.

28 Feb 2014 - 12:25am

Huge losses at Li Ning sow seeds of worry

Li Ning has slipped into the red, posting a 1.98 billion yuan (HK$2.45 billion) annual loss for 2012, down from a profit of 385.8 million yuan (HK$477.2 million) previously. Photo: Reuters

Li Ning, a leading sportswear retailer on the mainland, saw its shares fall more than 4 per cent yesterday after reporting bigger-than-expected losses for last year amid weak market conditions and a costly transformation plan.

27 Mar 2013 - 5:04am

Corrections & Clarifications

In “MGM builds presence in Cotai strip”, published on February 28, MGM China was misidentified as a joint venture between two parties. It is, in fact, a subsidiary of MGM Resorts International and partly owned by Pansy Ho Chiu-king.

6 Mar 2013 - 5:05am

'Don't cap visitors, build more shops', retailers urge

Growth in retail sales last month should be even better than in January, with the Lunar New Year in February this year. Photo: Dickson Lee

Retailers have told the government to build more shops rather than restrain the number of mainland visitors, who are continuing to fuel growth in the city's retail sector.

5 Mar 2013 - 5:26am

Hong Kong shopping malls record bumper new year sales

The APM Mall saw brisk business during the Lunar New Year holiday.

The cash registers have been ringing loud and fast at Hong Kong shopping centres, with average sales rising 20 per cent at the start of the Year of the Snake, thanks to an influx of mainland tourists.

16 Feb 2013 - 4:13am

Lingerie lines hook younger customers

Limited Brands' Victoria's Secret. Photo: AP

When Kathleen Jordan stopped at a Victoria's Secret a year ago to buy something for herself, the visit had an unintended consequence: her 13-year-old daughter got hooked on Pink, the lingerie brand's young collegiate line.

"Now she has more bras than I do, in every colour under the sun," said Jordan, a principal at design and architecture firm Gensler in New York.

15 Feb 2013 - 5:20am

Services sector boom aids mainland economic recovery

The retailing industry showed improvement last month. Photo: Xinhua

The mainland's services industries rose last month at the fastest pace since August as gains in retailing and construction aided a recovery in the economy.

4 Feb 2013 - 4:21am

Li Ning stumbles over costly makeover plan

Li Ning is struggling with weak sales and high inventory. Photo: Reuters

Li Ning Company tumbled yesterday after the sportswear retailer - struggling with weak sales and high inventory - announced it would raise HK$1.87 billion by issuing convertible securities to revive the brand.

The stock fell 16.2 per cent before closing down 15 per cent at HK$5.30 as investors found the company's makeover plan far more costly than they had anticipated.

26 Jan 2013 - 4:51am

Hong Kong closures signal Gome retreat

Gome Hong Kong has struggled to make a profit in the city and will close its six shop within two months. It will focus on wholesaling in the future. Photo: David Wong

Gome Electrical Appliances' decision to close its Hong Kong operations signals a temporary halt to its overseas expansion plans, which have been losing momentum since its founder Wong Kwong-yu was jailed four years ago.

22 Jan 2013 - 4:12am

Wal-Mart plans US$50 billion ’buy American’ push

Wal-Mart chief executive Bill Simon. Wal-Mart said it aims to buy more American goods and hire 100,000 newly discharged veterans. Photo: AFP

Wal-Mart Stores will buy an additional US$50 billion in US-made products over the next decade in what it called a bid to help boost the US economy, although the announcement is unlikely to appease critics who say the world's largest retailer imports too much from low-wage suppliers in countries like China.

16 Jan 2013 - 1:07pm

David Tang eyes luxe rice cooker

David Tang Wing-cheung, founder of Shanghai Tang. Photo: Oliver Tsang

Tang-Tang-Tang-TANG … Sing it like Beethoven's Fifth. It's the name of businessman and bon vivant David Tang's new retail empire. So, what what what WHAT will it sell?

It won't bear any resemblance to the Shanghai Tang fashion chain he founded and sold in 2006 to Richemont, a retailer. He's fairly scathing about the wares sold by his former shop. In a word: "Awful."

24 Dec 2012 - 4:23am

Tiffany challenged by logos as jewellery goes brand-mad

Well-heeled shoppers are increasingly seeking out luxury department stores for jewelry from big name fashion houses, creating a potential headache for specialty jewelers like Tiffany. Photo: Bloomberg

In Christmases past, gentlemen headed to their trusty local jewellery shop to buy generic gems for their significant others – strands of pearls, diamond-stud earrings.

7 Dec 2012 - 8:46pm

Retailers in Tokyo's Ginza dealt blow by Chinese boycott in Diaoyus row

Ginza retailers were hoping for hordes of shoppers during the week-long Chinese holidays in October but the dispute kept them away. Photo: Bloomberg

The sound of Putonghua-speaking tourists and the cash tills they set ringing have become rarer in Tokyo's upmarket Ginza district, retailers say, since a flare-up in a territorial row between China and Japan.

6 Dec 2012 - 4:09am

Esprit shares plunge on rights issue

Esprit chairman Raymond Or (R) talks to newly appointed Esprit chief executive Jose Manuel Martinez Gutierrez during the company’s annual results briefing on September 26. Shares in the company plunged on Wednesday on news of a rights issue to help fund its restructuring. Photo: AFP

Shares in Hong Kong clothing retailer were down 15.9 per cent in early trade on Wednesday on the company’s plans to raise about HK$5.2 billion through a rights issue as part of a transformation plan to revive the brand.

24 Oct 2012 - 10:52am