https://www.scmp.com/rss/162227/feed Giordano International is a Hong Kong-based retailer of men's, women's and children's clothing founded in 1981 by Jimmy Lai, who sold the company in 1996. The company listed in Hong Kong in 1991. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Enoch Yiu Enoch Yiu On a warm Saturday in early May, the kind of day most would choose to spend on a hike or at the beach, hundreds of Hongkongers instead stood for hours in a queue at Edinburgh Tower in Central. But despite the loss of a pleasant weekend afternoon, none would be likely to consider it time wasted. They were there claim their fair share of HK$1.5 billion (US$191 million) owed to independent shareholders of Giordano International in the largest settlement on record by the city’s Securities and... https://www.scmp.com/business/banking-finance/article/3353713/hong-kong-market-regulator-takes-collection-agent-role-wronged-investors?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3353713/hong-kong-market-regulator-takes-collection-agent-role-wronged-investors?utm_source=rss_feed Sat, 16 May 2026 02:00:11 +0000 Peggy Sito Peggy Sito In the largest settlement for a Takeovers Code breach in Hong Kong, the Securities and Futures Commission (SFC) has reached an agreement with two wholly owned subsidiaries of Chow Tai Fook Nominee (CTFN) – a company linked to the Henry Cheng Ka-shun family – requiring them to pay up to HK$1.5 billion (US$192 million) to independent shareholders of Giordano International. The agreement with Sino Wealth International, Giordano’s majority shareholder, and Clear Prosper Global followed an... https://www.scmp.com/business/companies/article/3343758/chow-tai-fook-linked-firms-set-record-us192-million-hit-giordano-case?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343758/chow-tai-fook-linked-firms-set-record-us192-million-hit-giordano-case?utm_source=rss_feed Mon, 16 Feb 2026 11:27:47 +0000 Emily Hung Emily Hung Former Hong Kong media boss Jimmy Lai Chee-ying’s “rabid hatred” of the Communist Party of China has led him down a “thorny path”, according to the judges who found him guilty on three counts of national security offences. The 855-page full judgment released on Monday started with the “rags-to-riches” success story of Lai, but was overshadowed by criticism, particularly regarding the credibility of his evidence. Born in Guangzhou in 1947, Lai smuggled himself into Hong Kong at the age of 12,... https://www.scmp.com/news/hong-kong/law-and-crime/article/3336529/jimmy-lais-rabid-hatred-party-led-him-down-thorny-path-hong-kong-court?utm_source=rss_feed https://www.scmp.com/news/hong-kong/law-and-crime/article/3336529/jimmy-lais-rabid-hatred-party-led-him-down-thorny-path-hong-kong-court?utm_source=rss_feed Mon, 15 Dec 2025 14:19:37 +0000 The family of Hong Kong’s third-richest person is seeking to remove Peter Lau Kwok-keun from his role as CEO of Giordano International following a failed attempt to acquire the clothing company two years ago. Giordano’s shares fell as much as 7.4 per cent on Tuesday morning, the most in almost a month, before closing 3.9 per cent lower at HK$1.96. The family of Henry Cheng Kar-shun, Giordano’s top shareholder with a stake of about 24.1 per cent, wants to appoint Colin Currie, whose previous... https://www.scmp.com/business/companies/article/3251131/hong-kongs-billionaire-cheng-family-seeks-oust-giordano-ceo-peter-lau-after-failed-buyout?utm_source=rss_feed https://www.scmp.com/business/companies/article/3251131/hong-kongs-billionaire-cheng-family-seeks-oust-giordano-ceo-peter-lau-after-failed-buyout?utm_source=rss_feed Tue, 06 Feb 2024 09:08:01 +0000 An investment vehicle owned by the family of billionaire Henry Cheng Kar-shun, Hong Kong’s third-richest individual, has failed to take control of Hong Kong fashion retailer Giordano International due to not receiving sufficient shareholder approval for the deal. Shareholders representing 46.04 per cent of issued capital accepted the offer by Clear Prosper Global, an offshore unit wholly-owned by Chow Tai Fook Nominee – privately owned by the Cheng family – according to a filing by Giordano... https://www.scmp.com/business/companies/article/3192387/tycoon-henry-chengs-offer-giordano-collapses-after-receiving?utm_source=rss_feed https://www.scmp.com/business/companies/article/3192387/tycoon-henry-chengs-offer-giordano-collapses-after-receiving?utm_source=rss_feed Tue, 13 Sep 2022 15:14:33 +0000 An investment vehicle owned by the family of billionaire Henry Cheng Kar-shun, Hong Kong’s third-richest individual, is seeking to take control of one of the city’s biggest apparel retailers in a deal worth as much as HK$2.56 billion (US$326 million). The stock jumped by the most in more than a decade. The family’s offshore unit, Clear Prosper Global, offered to buy 75.4 per cent of Giordano International it does not already own for HK$1.88 per share, according to an exchange filing late on... https://www.scmp.com/business/companies/article/3182936/hong-kong-billionaire-henry-chengs-family-aims-take-control?utm_source=rss_feed https://www.scmp.com/business/companies/article/3182936/hong-kong-billionaire-henry-chengs-family-aims-take-control?utm_source=rss_feed Fri, 24 Jun 2022 07:30:51 +0000 Casual apparel retailer Giordano International plans to push its main label upmarket and raise prices by 10 to 15 per cent over the next two years, leaving spin-off brand Beau Monde to focus on affordable basics. Chief executive Peter Lau Kwok-keun said Giordano had struggled with a mass market image problem because it had expanded into the mainland too fast and set up in locations that dragged down the brand's image. "What's holding us back is two things. The first one is memory but secondly,... https://www.scmp.com/business/companies/article/1436717/giordano-sets-out-erase-memories-past-mistakes?utm_source=rss_feed https://www.scmp.com/business/companies/article/1436717/giordano-sets-out-erase-memories-past-mistakes?utm_source=rss_feed Thu, 27 Feb 2014 17:15:00 +0000 Casual-wear retailer Giordano International said first-half net profit dropped 3 per cent as sales slowed, hit by softening demand on the mainland, its key market. The company posted a net profit of HK$340 million in the January-June period, roughly in line with the consensus forecast of HK$348.5 million compiled by Bloomberg. It reported a HK$352 million net profit a year earlier. "In the first half of 2013, we continued to see challenging market conditions across our global operations.... https://www.scmp.com/business/companies/article/1296319/slowing-china-demand-eats-giordanos-interim-profit?utm_source=rss_feed https://www.scmp.com/business/companies/article/1296319/slowing-china-demand-eats-giordanos-interim-profit?utm_source=rss_feed Tue, 13 Aug 2013 04:15:52 +0000 Casual clothing chain Giordano International posted a 1 per cent increase in annual revenue to HK$5.67 billion last year despite sales on the mainland and Taiwan declining amid weaker demand. On the mainland, the company's revenue dropped 6 per cent year on year to HK$1.9 billion and gross profit fell 5 per cent to HK$1.07 billion. The company's chairman, Peter Lau Kwok-kuen, said: "In the first two months this year, our sales situation has improved [on the mainland]. Gross profit margin has... https://www.scmp.com/business/companies/article/1164249/giordano-sales-pushed-down-weak-china-demand?utm_source=rss_feed https://www.scmp.com/business/companies/article/1164249/giordano-sales-pushed-down-weak-china-demand?utm_source=rss_feed Thu, 28 Feb 2013 16:00:00 +0000 Casual wear chain Giordano International reported a 5 per cent decline in sales for the third quarter as the weak economy and late arrival of cold weather weighed on consumer spending. Giordano shares fell more than 2 per cent yesterday afternoon after the company released the results. They closed at HK$6.44, down 0.92 per cent, while the benchmark Hang Seng Index gained 1 per cent. The clothing retailer said sales for the three months to September fell to HK$1.27 billion from HK$1.33 billion a... https://www.scmp.com/business/companies/article/1074164/giordano-sales-fall-5pc-consumer-demand-weakens?utm_source=rss_feed https://www.scmp.com/business/companies/article/1074164/giordano-sales-fall-5pc-consumer-demand-weakens?utm_source=rss_feed Wed, 31 Oct 2012 16:00:00 +0000 Canto-pop star Leo Ku Kui-kei wants us to look cool in the hot summer by wearing his latest designs for local casual wear brand Giordano. The new collection features a cartoon penguin, in a nod to Ocean Park's new Polar Adventure attraction. Ku brought child model Catelyn Lee along on Tuesday to help him promote the O!Cool! collection at Giordano's flagship store in Mong Kok. Although Catelyn - the six-year-old niece of Ku's long-time assistant and rumoured girlfriend Lorraine Chan - has... https://www.scmp.com/article/1007186/leo-ku-brings-perfect-ice-breaker-launch-giordanos-ocool-line?utm_source=rss_feed https://www.scmp.com/article/1007186/leo-ku-brings-perfect-ice-breaker-launch-giordanos-ocool-line?utm_source=rss_feed Wed, 18 Jul 2012 16:00:00 +0000 As Hong Kong's retail industry slows down, some local retailers are offering early discounts and putting out lower-priced products to deal with the challenging market. The summer sale has started a bit earlier than usual for a number of fashion retailers, who are keen to clear inventories. Local casualwear chain Giordano and Giordano Junior held a staff sale between June 22 and 25, offering a 50 per cent discount in almost all its shops in the city. Its main rival Bossini also offered a... https://www.scmp.com/article/1006315/slowdown-brings-early-start-sales?utm_source=rss_feed https://www.scmp.com/article/1006315/slowdown-brings-early-start-sales?utm_source=rss_feed Sun, 08 Jul 2012 16:00:00 +0000 A group of social activists has launched a campaign against popular clothing chain Giordano for using simplified rather than traditional Chinese characters on promotional materials in many of its stores. Gary Fan Kwok-wai, of political party the NeoDemocrats and the Sai Kung district councillor, said that over 90 per cent of the price tags and store notices contained only simplified Chinese and English in some stores, for the benefit of mainlanders. The practice is particularly prevalent in... https://www.scmp.com/article/1001547/giordanos-chinese-labels-have-activists-arms?utm_source=rss_feed https://www.scmp.com/article/1001547/giordanos-chinese-labels-have-activists-arms?utm_source=rss_feed Sun, 20 May 2012 16:00:00 +0000 The casual-wear chain Giordano International recorded an increase in sales of more than 18 per cent for the third quarter this year, with strong growth in Hong Kong and Taiwan. The company said sales for the quarter ending September 30 were HK$1.33 billion, bringing the total year-to-date sales to HK$3.98 billion, up 22 per cent year on year. Gross profit margin improved 0.8 percentage points in the third quarter, helping raise the year-to-date gross margin by 1.5 percentage points to 59 per... https://www.scmp.com/article/985206/giordano-sees-clothing-sales-climb-18pc?utm_source=rss_feed https://www.scmp.com/article/985206/giordano-sees-clothing-sales-climb-18pc?utm_source=rss_feed Thu, 17 Nov 2011 16:00:00 +0000 Casual wear chain Giordano International yesterday warned of slower profit growth in the second half after reporting a 71 per cent rise in interim net profit. Company chairman and chief executive Peter Lau Kwok-kuen said sales growth stayed in high double digits in July and August, but might slow in the second half. The company is considering raising prices this year. Giordano's net profit rose to HK$346 million for the six months to June, from HK$202 million a year earlier. Revenue grew 24... https://www.scmp.com/article/977678/giordano-warns-slowdown-second-half?utm_source=rss_feed https://www.scmp.com/article/977678/giordano-warns-slowdown-second-half?utm_source=rss_feed Tue, 30 Aug 2011 16:00:00 +0000 Speculation that Spanish clothing giant Inditex was wooing Giordano International sent the Hong Kong-listed apparel chain up as much as 5.7 per cent yesterday before it dismissed talk of a suitor. Hong Kong newspaper Sing Pao quoted market talk in Spain yesterday that the Madrid-listed Inditex had approached Giordano over a possible takeover to help it expand its sales in mainland China and Hong Kong. A Giordano spokesman said the firm had had no contact with Inditex at the moment, Reuters... https://www.scmp.com/article/971558/giordanos-price-rises-rumours-suitor?utm_source=rss_feed https://www.scmp.com/article/971558/giordanos-price-rises-rumours-suitor?utm_source=rss_feed Thu, 23 Jun 2011 16:00:00 +0000 Shares in Giordano International jumped to a record high yesterday after tycoon Cheng Yu-tung increased his stake in the casual wear retailer for a third time in a month. The stock rose as much as 13.6 per cent to HK$7.58, its highest since the company went public in June 1991, before closing at HK$7.17 yesterday, up 7.5 per cent or 50 HK cents. Investors grew bullish after billionaire Cheng, chairman of New World Development and owner of jewellery chain Chow Tai Fook, raised his stake to... https://www.scmp.com/article/969291/giordano-shares-surge-tycoon-raises-stake?utm_source=rss_feed https://www.scmp.com/article/969291/giordano-shares-surge-tycoon-raises-stake?utm_source=rss_feed Mon, 30 May 2011 16:00:00 +0000 A sensible pair of shoes or basic household items may become increasingly hard to find in Hong Kong's prime retail districts as wall-to-wall luxury brands force out local retailers. Property consultants say home-grown retailers are being driven out of Hong Kong's prime shopping districts by big- and mid-range luxury brands which are rapidly building up their presences in the city. Lured to Hong Kong by the acceleration in local retail sales and the growing number of wealthy mainland shoppers... https://www.scmp.com/article/965452/luxury-brands-force-local-retailers-out-prime-sites?utm_source=rss_feed https://www.scmp.com/article/965452/luxury-brands-force-local-retailers-out-prime-sites?utm_source=rss_feed Sun, 17 Apr 2011 16:00:00 +0000 Hongkongers eager to get into the Games spirit snapped up 15,000 free, red Olympic relay T-shirts within a few hours of them arriving in Giordano stores. Hundreds of people started queuing outside a Giordano shop in Causeway Bay, one of 12 stores stocking the T-shirts, before it opened at 10am to present their coupons and claim their T-shirts. The coupons had been published in the Chinese-language newspaper Headline Daily. Earlier this week, Hongkongers were urged to dress in red to show their... https://www.scmp.com/article/635990/thousands-join-race-free-olympic-t-shirts?utm_source=rss_feed https://www.scmp.com/article/635990/thousands-join-race-free-olympic-t-shirts?utm_source=rss_feed Thu, 01 May 2008 16:00:00 +0000 For many clothing retailers, overseas expansion is a natural step after gaining a strong foothold in their home base to broaden earnings and promote brands. However, for Bossini International Holdings, a Hong Kong casual-wear chain, its early venture into the mainland market more than a decade ago has become a disappointment because of its ambitious expansion in recent years. After opening its first store under the label 'Bossini' in 1987 in Hong Kong, the company was lauded by market... https://www.scmp.com/article/632802/bossini-suffers-after-bold-expansion-mainland?utm_source=rss_feed https://www.scmp.com/article/632802/bossini-suffers-after-bold-expansion-mainland?utm_source=rss_feed Sun, 06 Apr 2008 16:00:00 +0000 Shares of Giordano International continued to climb yesterday, edging up 1.29 per cent after strong gains on Thursday, even though the company denied a market rumour that it was engaged in acquisitions or sales transactions. Peter Lau Kwok-kuen, the chairman of the garment company that sells casual wear mainly in Asia, said yesterday that it was 'not engaged in any negotiations with anyone over acquisition or realisation-related projects'. However, he said Giordano was 'in talks with parties... https://www.scmp.com/article/631646/giordano-extends-rally-acquisition-talk?utm_source=rss_feed https://www.scmp.com/article/631646/giordano-extends-rally-acquisition-talk?utm_source=rss_feed Fri, 28 Mar 2008 16:00:00 +0000 There was a time when local fashionistas would never have thought of shopping at Giordano, instead making a beeline for international high street stores such as H&M and Zara for stylish and affordable clothes. However, in the past year homegrown fashion chains have fought back with clothing that's just as hip and kind to the pocket. Brands such as G2000 and Izzue used to bring to mind images of staid office-wear and boring basics sold in nondescript environments. But new store decor,... https://www.scmp.com/article/631285/rags-race?utm_source=rss_feed https://www.scmp.com/article/631285/rags-race?utm_source=rss_feed Tue, 25 Mar 2008 16:00:00 +0000 Maintaining a quality staff and ensuring its stability are corporate manpower priorities that unfortunately often make odd bedfellows. For employers, the Catch-22 is that the better the quality of their employees, the more difficult it is to retain them due to market competition for manpower. Giordano International has successfully kept this issue at bay even though its reputation as a 'Shaolin Temple', or top training school, in the apparel retail sector makes its employees prime targets for... https://www.scmp.com/article/607041/giordano-going-extra-mile-staff?utm_source=rss_feed https://www.scmp.com/article/607041/giordano-going-extra-mile-staff?utm_source=rss_feed Fri, 07 Sep 2007 16:00:00 +0000 No2 shareholder wants at least 50pc premium A major shareholder in apparel firm Giordano International, which has been the subject of recent takeover speculation, is interested in selling its stake if it receives an offer at least 50 per cent above the current share price. Harris Associates, a US-based fund manager and the second-biggest shareholder in Giordano with a 14.08 per cent stake, is not happy with the Hong Kong-listed company's recent earnings and says the dividends paid out have... https://www.scmp.com/article/599893/harris-looks-sell-giordano-holding?utm_source=rss_feed https://www.scmp.com/article/599893/harris-looks-sell-giordano-holding?utm_source=rss_feed Sun, 08 Jul 2007 16:00:00 +0000 Extensive store network attracts Esprit, Zara and Uniqlo Three global clothing retail giants are separately considering buying a substantial stake in Hong Kong-listed Giordano International, according to sources. Esprit Holdings and Spanish retailer Zara are the latest comers in the quest for a stake in one of Asia's largest clothing chains, joining yet another bid by Tokyo-listed Uniqlo operator Fast Retailing, the sources said. The three retailers have only limited presence across the... https://www.scmp.com/article/595215/fashion-retail-giants-eye-stake-giordano?utm_source=rss_feed https://www.scmp.com/article/595215/fashion-retail-giants-eye-stake-giordano?utm_source=rss_feed Fri, 01 Jun 2007 16:00:00 +0000 Retailer widens product categories Bossini International Holdings said same-store sales dropped 9 per cent last year, prompting the casual-wear retailer to increase product categories and cut the number of loss-making mainland and Taiwan outlets. The drop in comparable store sales for the year ending last month was the same as the 9 per cent fall posted in the first half amid intensified competition, according to chief executive Kathy Chan. 'The third quarter was the worst of the year,... https://www.scmp.com/article/590951/bossini-close-its-loss-making-stores-sales-decline?utm_source=rss_feed https://www.scmp.com/article/590951/bossini-close-its-loss-making-stores-sales-decline?utm_source=rss_feed Sun, 29 Apr 2007 16:00:00 +0000 A 77kg woman selling extra-large women's clothes online has done thriving business since she started just over a year ago. 'Every time I post new items on the web, dozens of customers will make orders,' said Ada Lai Siu-choi, 27, who has premises in a Tsuen Wan industrial building where customers can try on the clothes. 'Our sales amount to HK$40,000 to HK$50,000 a month. 'My customers buy at least one item when they visit, and sometimes a dozen or more. It is definitely a large market. Most... https://www.scmp.com/article/587009/selling-larger-sizes-big-business?utm_source=rss_feed https://www.scmp.com/article/587009/selling-larger-sizes-big-business?utm_source=rss_feed Thu, 29 Mar 2007 16:00:00 +0000 Retailer to distribute HK$395 million as dividends despite 50pc fall in earnings Giordano International, a casualwear retailer with more than 1,700 outlets in Asia, has proposed to pay dividends almost twice the amount of its earnings last year, despite a 50 per cent plunge in net profit. Because of a one-off tax expense imposed by the central government, net income slumped to HK$205 million last year, compared with HK$406 million in 2005 and the HK$325.5 million estimate by a Thomson... https://www.scmp.com/article/586088/giordano-payout-twice-its-profit?utm_source=rss_feed https://www.scmp.com/article/586088/giordano-payout-twice-its-profit?utm_source=rss_feed Thu, 22 Mar 2007 16:00:00 +0000 Welcome to the space race, China retail style. Everyone knows Chinese retail sales are climbing, so everyone from homegrown retailers to Hong Kong and international players are counting on mainland revenues to drive growth. Mainland retail sales rose 14.1 per cent in November from a year earlier to 682.2 billion yuan and the Ministry of Commerce projects that retail sales this year will top 8.6 trillion yuan. In key cities, especially Beijing and Shanghai, vacant retail space is increasingly... https://www.scmp.com/article/579138/retailers-china-face-space-and-rent-crunch?utm_source=rss_feed https://www.scmp.com/article/579138/retailers-china-face-space-and-rent-crunch?utm_source=rss_feed Sun, 21 Jan 2007 16:00:00 +0000 Hong Kong retailer Giordano International, which operates about 1,700 apparel shops in Asia, in August became a takeover target of Tokyo-listed Fast Retailing, which operates the Uniqlo clothing retail chain. However, one month later the Japanese retailer ended its attempt to take a stake in the Hong Kong-listed firm and said: 'Giordano's current share price is not truly reflective of the operational state and thus the inherent value of the company' as Giordano's first-half operating profit... https://www.scmp.com/article/577120/giordano-buyout-list-while-cr-asia-eyes-bakery?utm_source=rss_feed https://www.scmp.com/article/577120/giordano-buyout-list-while-cr-asia-eyes-bakery?utm_source=rss_feed Sun, 31 Dec 2006 16:00:00 +0000 In 'Giordano shares suffer fallout' (September 6) we should have said that Giordano management received a lunch invitation from Fast Retailing on June 6 and that both companies held their first formal meeting on June 21. https://www.scmp.com/article/563043/corrections-clarifications?utm_source=rss_feed https://www.scmp.com/article/563043/corrections-clarifications?utm_source=rss_feed Wed, 06 Sep 2006 16:00:00 +0000 Retailer's stock dives 11pc after Japanese group Fast Retailing drops plans to acquire a stake Shares of Giordano International, which operates about 1,700 apparel shops in Asia, fell as much as 16.3 per cent at one point after Japan-listed Fast Retailing said it had dropped plans to acquire a stake in the clothing retailer. Giordano shares closed yesterday at HK$4.03, down 11.23 per cent from HK$4.54 on Monday before Fast Retailing, which sells products under the Uniqlo brand, issued a... https://www.scmp.com/article/562906/giordano-shares-suffer-fallout?utm_source=rss_feed https://www.scmp.com/article/562906/giordano-shares-suffer-fallout?utm_source=rss_feed Tue, 05 Sep 2006 16:00:00 +0000 Chairman blames erratic weather and weak consumer sentiment in the region as profit declines 19.3pc Giordano International, a Hong Kong-based casual retailer that operates in more than a dozen Asia markets, said half-year profit fell 19.3 per cent as improved consumer sentiment in the second quarter failed to offset the slump in the first three months. Net income was HK$151 million for the six months to June, compared with HK$187 million a year earlier. Turnover dropped 6.1 per cent to... https://www.scmp.com/article/561491/giordano-fails-rebound-slump?utm_source=rss_feed https://www.scmp.com/article/561491/giordano-fails-rebound-slump?utm_source=rss_feed Thu, 24 Aug 2006 16:00:00 +0000 fans turn up heat for a place at fireside chat with michael dell Blame it on the fireside chat. Shortly after the Hong Kong General Chamber of Commerce invited members to what it called 'a fireside chat' with Michael Dell this Friday, his company caught fire. The company, which built its rise to being the world's biggest personal computer maker on a direct-sales strategy, yesterday set another landmark by recalling 4.1 million notebook computer batteries, the biggest consumer electronic... https://www.scmp.com/article/560388/lai-see?utm_source=rss_feed https://www.scmp.com/article/560388/lai-see?utm_source=rss_feed Tue, 15 Aug 2006 16:00:00 +0000 Giordano in the frame as corporate takeovers come thick and fast If this summer has had any one theme, it can probably be summed up in two words: corporate takeovers. First there was Richard Li Tzar-kai's Houdini number at PCCW. Then came suggestions that the 99-year-old Sir Run Run Shaw was ready at last to let go of his prized possessions which include the controlling interest in TVB. Now the spotlight has fallen on the popular apparel franchise Giordano. Unlike PCCW and TVB, Giordano... https://www.scmp.com/article/559552/lai-see?utm_source=rss_feed https://www.scmp.com/article/559552/lai-see?utm_source=rss_feed Mon, 07 Aug 2006 16:00:00 +0000 figure of fortune bestows $33m windfall on gold purveyor Everything that glitters can be sold, and so it was when Hang Fung Jewellery - which is also famous for its golden toilet - made a hefty profit from selling its much-loved golden statue of shepherd-turned-monk Wong Tai Sin. True to form, the god of fortune-telling has yielded a fat fortune for Hang Fung, which earned $33 million from the $58.33 million sale of the 433kg (or 13,922 ounce) statue at a reference price of US$552.75 per... https://www.scmp.com/article/541373/lai-see?utm_source=rss_feed https://www.scmp.com/article/541373/lai-see?utm_source=rss_feed Tue, 21 Mar 2006 16:00:00 +0000 Casual wear retailer Giordano International plans to slow down expansion of its Asian retail network after sales suffered a high single-digit drop in the past two months. The company aims to open 70 more outlets in Asia, including 40 in the mainland where it has 706 outlets. This compared with the 94 outlets opened last year. Taiwan saw the biggest decline in sales since January, according to chairman and chief executive Peter Lau Kwok-kuen, because local banks have recently tightened... https://www.scmp.com/article/541405/giordano-plans-open-fewer-outlets?utm_source=rss_feed https://www.scmp.com/article/541405/giordano-plans-open-fewer-outlets?utm_source=rss_feed Tue, 21 Mar 2006 16:00:00 +0000 Giordano International has enough capital to embark on a $1 billion acquisition spree, the casual wear retailer said. The firm, which announced a profit rise of 10.65 per cent to $187 million for the six months to June, said it might accelerate its expansion on the mainland. Chairman Peter Lau Kwok-kuen said he expected China's retail sector to undergo massive consolidation in the coming years. 'There are too many brands in the mainland,' he said. 'We are eyeing those local chains that ran... https://www.scmp.com/article/519431/1b-acquisitions?utm_source=rss_feed https://www.scmp.com/article/519431/1b-acquisitions?utm_source=rss_feed Thu, 06 Oct 2005 16:00:00 +0000 Hong Kong brand names are becoming less attractive to mainland and overseas shoppers, a Polytechnic University study on local retail services has found. In the study by the university's faculty of business, the overall score for service quality rose marginally from 99.5 in the January-February period when a similar poll was done, to 99.8 in July and August. The index benchmark was set at 100 in September last year. The latest study interviewed 2,292 local and overseas shoppers in July and... https://www.scmp.com/article/518104/mainlanders-no-longer-buy-allure-hk-brands?utm_source=rss_feed https://www.scmp.com/article/518104/mainlanders-no-longer-buy-allure-hk-brands?utm_source=rss_feed Tue, 27 Sep 2005 16:00:00 +0000 Casual-wear retailer speeds up China expansion as rents, rivalry rise at home Casual-wear retailer Bossini International will accelerate the expansion of its mainland operation, with a target to double the number of its outlets there to 1,000 over the next five years. Confronted by an increasingly competitive retail market at home that is exacerbated by soaring shop rents, the retailer now looks to China as its future growth engine and says it will step up efforts to open more franchise... https://www.scmp.com/article/512183/bossini-eyes-1000-mainland-shops-5-years?utm_source=rss_feed https://www.scmp.com/article/512183/bossini-eyes-1000-mainland-shops-5-years?utm_source=rss_feed Sun, 14 Aug 2005 16:00:00 +0000 TWO YEARS AGO, local fashion designer Cheung Mei-yi went to Beijing with just six of her own designs. She had almost no idea about the fashion industry on the mainland, but wanted to try her luck. After plenty of hard work, and several trade fairs, Cheung will open her own shops in Beijing and Shanghai this autumn, and plans to set up in Fuzhou and Harbin next year. Cheung says her 16 years in design and sourcing for foreign brands helped her catch the eye of mainland investors,... https://www.scmp.com/article/504462/main-game?utm_source=rss_feed https://www.scmp.com/article/504462/main-game?utm_source=rss_feed Tue, 14 Jun 2005 16:00:00 +0000 About a year ago GK Goh said that clothing retailer Giordano was facing its brightest prospects for several years and was due to deliver a strong performance in 2004. It upgraded its recommendation from 'sell' to 'buy' and raised its target price to $6 from $4.925. Net profit in 2003 was down 22 per cent year on year to $266 million, which was better than expected. The group turned around strongly in the second half on improved merchandising and better consumer sentiment. Better procurement... https://www.scmp.com/article/495236/what-broker-said?utm_source=rss_feed https://www.scmp.com/article/495236/what-broker-said?utm_source=rss_feed Sat, 02 Apr 2005 16:00:00 +0000 GIORDANO IS widely recognised as being one of Hong Kong's first local fashion outlets to put serious emphasis on staff courtesy and customer service training. When in the early 1990s the company's friendly sales staff started welcoming shoppers and helping them find colours and sizes, the standard of service brought a breath of fresh air to Hong Kong's fashion retail industry. The company is still committed to extending the boundaries of customer service. 'Our commitment to exceed customers'... https://www.scmp.com/article/476849/giordano-sticks-customer-first-policy?utm_source=rss_feed https://www.scmp.com/article/476849/giordano-sticks-customer-first-policy?utm_source=rss_feed Thu, 04 Nov 2004 16:00:00 +0000 When you hear the word 'Giordano', what orchestra strikes up in your head? If you answered 'a sophisticated bossa nova feel', if you felt a sudden European-lounge moment, a sort of Hotel Costes mellowness, then you are either a very important customer of Giordano Ladies or you've read the press release about Omotesando, volume one of the Giordano Ladies CD and the latest and possibly least-expected offering in the glossy world of corporate CDs (compared with that of Armani, DKNY and... https://www.scmp.com/article/457584/sound-and-vision?utm_source=rss_feed https://www.scmp.com/article/457584/sound-and-vision?utm_source=rss_feed Sat, 29 May 2004 16:00:00 +0000 Clothing retailer Giordano is facing its brightest prospects for several years and is forecast to deliver a strong performance in 2004. G K Goh has upgraded its recommendation on the company from ''sell'' to ''buy'' and raised its target price to HK$6 from $4.925 on March 19. The counter closed at $5 on Friday. Net profit last year was down 22 per cent year on year to $266 million, which was better than expected. The group turned around strongly in the second half on a combination of improved... https://www.scmp.com/article/450009/what-broker-says?utm_source=rss_feed https://www.scmp.com/article/450009/what-broker-says?utm_source=rss_feed Sat, 27 Mar 2004 16:00:00 +0000 About a year ago Merrill Lynch downgraded its earnings estimates for clothing retailer Giordano, citing declining sales growth momentum. It rated the stock 'neutral''. Giordano's Korean operation had been struggling with rising competition, and its Taiwanese business was in its third year of underperformance. A store roll-out in China was being cut back because of tough trading conditions. Only Hong Kong showed positive sales growth. Analysts said: 'We expect Giordano to continue to trade at a... https://www.scmp.com/article/441697/what-broker-said?utm_source=rss_feed https://www.scmp.com/article/441697/what-broker-said?utm_source=rss_feed Sat, 17 Jan 2004 16:00:00 +0000 Hong Kong retailers are turning into Scrooges, with many deciding against offering big discounts during the Christmas shopping season as consumer confidence rebounds. Retailers offered steep discounts last year to lure Christmas shoppers, but this year they were being less generous, Hong Kong Retail Management Association chairman Yu Pang-chun said. 'The improved economy in general has put people in a spending mood,' Mr Yu said. Rents, meanwhile, are heading upwards as landlords demand more... https://www.scmp.com/article/437377/confident-retailers-cut-festive-discounts?utm_source=rss_feed https://www.scmp.com/article/437377/confident-retailers-cut-festive-discounts?utm_source=rss_feed Sun, 07 Dec 2003 16:00:00 +0000 Businesses operating in the mainland are resigned to the rampant poaching of staff trained at heavy expense, according to a panel of leading businessmen. Giordano chairman and chief executive Peter Lau said the plunder of employees on the mainland had extended beyond managerial targets to shop-level staff. He was speaking at yesterday's Getting Serious About People: Capitalising on Talent in Greater China human resources conference, hosted by the South China Morning Post. 'It is a... https://www.scmp.com/article/429564/staff-poaching-way-life-mainland?utm_source=rss_feed https://www.scmp.com/article/429564/staff-poaching-way-life-mainland?utm_source=rss_feed Mon, 29 Sep 2003 16:00:00 +0000 SELL Giordano International Merrill Lynch has reiterated its 'sell' rating on Giordano in light of the casual wear retailer's lack of long-term growth drivers and further downside earnings risk. Giordano reported a 66 per cent year-on-year decrease in net profit to $63 million for the first half, which was 31 per cent below the forecast of $92 million by analysts Jeanine Angell and David Errington. 'We are not convinced sales and earnings will quickly recover given that Giordano seems to be... https://www.scmp.com/article/424243/upgrades-and-downgrades?utm_source=rss_feed https://www.scmp.com/article/424243/upgrades-and-downgrades?utm_source=rss_feed Fri, 08 Aug 2003 16:00:00 +0000 Giordano International expects a further decline in earnings following a 30 per cent drop in sales since the outbreak of Sars last month. Chairman Peter Lau Kwok-kuen said sales in Hong Kong, southern China, Beijing and Singapore had suffered as fears of catching Sars in crowded places kept shoppers away. 'Our earnings this year [to December] will decline if the epidemic crisis becomes worse,' he said. 'But we cannot measure the size of the full impact now.' Sales in southern China started... https://www.scmp.com/article/413485/sars-hit-giordano-expects-earnings-slump?utm_source=rss_feed https://www.scmp.com/article/413485/sars-hit-giordano-expects-earnings-slump?utm_source=rss_feed Thu, 24 Apr 2003 16:00:00 +0000