https://www.scmp.com/rss/326503/feed Latest news and features on retailing with a particular focus on Hong Kong, mainland China and Asia, covering consumer goods and services, retail strategies, shopping habits, sales results and trends. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Gloria Tso Gloria Tso Behind the scenes at menswear brand Feng Chen Wang’s 10th anniversary show at Shanghai Fashion Week, amid the sound of camera flashes going off every second and the overpowering smell of hairspray, the first thing that strikes me is the vibrant range of hair colours on display. One model’s hair is white as snow; another is of a fiery red hue. A third one has strands in an electric shade of blue. Everyone looks eccentric, but no one feels out of place. All the models appear radically different in... https://www.scmp.com/magazines/style/fashion/trends/article/3349482/feng-chen-wang-10-years-fashion-and-chinamaxxing-it-was-cool-interview?utm_source=rss_feed https://www.scmp.com/magazines/style/fashion/trends/article/3349482/feng-chen-wang-10-years-fashion-and-chinamaxxing-it-was-cool-interview?utm_source=rss_feed Thu, 09 Apr 2026 05:54:38 +0000 Xiaofei Xu Xiaofei Xu Luxury is back. Following a relatively stagnant 2025, the industry is forecast to accelerate in 2026, with China’s long-awaited recovery emerging as a pivotal factor, even as the war in Iran casts a shadow over global markets, according to analysts. Estimates vary, but HSBC, Deutsche Bank and BNP Paribas all forecast global sales growth ranging from 5.5 to 6 per cent this year. “We believe it is time to look at the sector, as we think the organic sales growth rate should further accelerate in... https://www.scmp.com/economy/global-economy/article/3348902/chinas-luxury-spending-seen-boosting-global-sales-2026-despite-headwinds?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348902/chinas-luxury-spending-seen-boosting-global-sales-2026-despite-headwinds?utm_source=rss_feed Sun, 05 Apr 2026 10:00:11 +0000 Zhu Wenqian Zhu Wenqian Japanese retailers are scaling back in north China as fierce competition and weak pricing power erode profitability, forcing store closures in major cities and prompting calls for a sharper localisation strategy. Groups such as Aeon and Ito-Yokado have closed outlets in Chinese cities in recent years, highlighting mounting pressure from domestic rivals and shifting consumer habits in the region. Aeon said it closed three supermarkets in Tianjin and one in neighbouring Hebei province after March... https://www.scmp.com/business/article/3348978/japanese-chains-aeon-ito-yokado-retreat-north-china-instant-retail-race-heats?utm_source=rss_feed https://www.scmp.com/business/article/3348978/japanese-chains-aeon-ito-yokado-retreat-north-china-instant-retail-race-heats?utm_source=rss_feed Sun, 05 Apr 2026 03:00:07 +0000 Yulu Ao Yulu Ao Chinese toymaker Pop Mart remains under pressure despite carrying out six share buy-backs over the past few days following a sell-off after its results, raising questions over whether the weakness reflects concerns about its Labubu-led growth and valuation. The Beijing-based company has stepped up efforts to support its share price through market purchases. Pop Mart bought back 700,000 shares on Thursday at prices ranging from HK$140.90 to HK$142.30, for a total of HK$99.2 million (US$12.6... https://www.scmp.com/business/china-business/article/3348876/chinas-pop-mart-struggles-stem-slide-despite-buy-backs-amid-labubu-reliance-concerns?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348876/chinas-pop-mart-struggles-stem-slide-despite-buy-backs-amid-labubu-reliance-concerns?utm_source=rss_feed Fri, 03 Apr 2026 04:03:57 +0000 Lo Hoi-ying Lo Hoi-ying Hong Kong’s retail sales jumped by nearly 12 per cent in the first two months of 2026 against a year ago, with authorities pointing to growth in the local economy and a surge in tourists. Provisional figures released by the Census and Statistics Department on Wednesday showed retail sales reached HK$35 billion (US$4.47 billion) in February, driven by the Chinese New Year holiday and major events in the city. Sales were HK$37.3 billion in January. The department combined the retail sales figures... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348664/hong-kong-retail-sales-jump-nearly-12-first-2-months-year?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3348664/hong-kong-retail-sales-jump-nearly-12-first-2-months-year?utm_source=rss_feed Wed, 01 Apr 2026 08:49:30 +0000 Gloria Tso Gloria Tso One look at the queue for a Chopova Lowena sample sale feels a little like peeking inside a high school auditorium filled with an eccentric, yet effortlessly well-dressed congregation of cool girls and quirky kids. You’ll see fans united by their love for London’s most punk rock brand on the block, lining up for a chance to nab one of Chopova Lowena’s highly coveted carabiner skirts. You wouldn’t be mistaken for thinking they were queuing up for a celebrity sighting. But the passion of Chopova... https://www.scmp.com/magazines/style/fashion/fashion-news/article/3348513/how-london-brand-chopova-lowena-and-its-cult-carabiner-skirt-came-be-interview?utm_source=rss_feed https://www.scmp.com/magazines/style/fashion/fashion-news/article/3348513/how-london-brand-chopova-lowena-and-its-cult-carabiner-skirt-came-be-interview?utm_source=rss_feed Tue, 31 Mar 2026 10:00:13 +0000 Zhu Wenqian Zhu Wenqian Chinese toymaker Pop Mart reported strong annual growth in revenue and net profit for 2025, but not enough to alleviate investor fears that the company remains too reliant on the Labubu phenomenon. Annual revenue jumped 184.7 per cent from a year earlier to 37.12 billion yuan (US$5.4 billion), while net profit surged 284.5 per cent to 13.08 billion yuan, the company said on Wednesday. However, its Hong Kong-listed shares plunged 22.5 per cent to HK$168.30 on Wednesday, marking the biggest drop... https://www.scmp.com/business/article/3347851/pop-mart-shares-dive-despite-soaring-profit-investors-fear-labubu-dependence?utm_source=rss_feed https://www.scmp.com/business/article/3347851/pop-mart-shares-dive-despite-soaring-profit-investors-fear-labubu-dependence?utm_source=rss_feed Wed, 25 Mar 2026 08:30:12 +0000 Zhu Wenqian Zhu Wenqian Major Chinese consumer stocks listed in Hong Kong rose immediately after reporting strong full-year earnings, but retreated on Wednesday. Analysts said the results did not point to a broad recovery in the consumer market but instead underscored structural divergence and new growth drivers in mainland China consumption. Jeweller Laopu Gold posted stronger-than-expected results for 2025, with revenues of 27.3 billion yuan (US$4 billion) last year, a 221 per cent surge year on year, while net... https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347779/china-consumer-stocks-jump-strong-earnings-analysts-warn-limited-recovery?utm_source=rss_feed Wed, 25 Mar 2026 01:39:46 +0000 Themis Qi Themis Qi Three Chinese electric vehicle (EV) makers have raised prices for some models in response to rising supply chain costs, but analysts say the increases are unlikely to be sustained given weakening domestic demand. Xiaomi became the latest manufacturer to adjust pricing on March 19, announcing that its new-generation SU7 standard version would start at 219,900 yuan (US$31,800) – a 4,000 yuan increase over the previous model. Founder and CEO Lei Jun had attributed the rise to aggressive surges in... https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed Mon, 23 Mar 2026 23:30:08 +0000 Wynna Wong Wynna Wong More than 60 new brands, mostly luxury labels, will move into K11 Musea as part of a revamp to boost the shopping centre’s offerings, but an analyst has warned of a complicated external environment weighing on the retail sector’s prospects. These brands are set to join the Tsim Sha Tsui mall in a tenant overhaul covering about 30 per cent of its retail space, with operators expecting rents for the revamped stores to rise by double digits. New or expanded flagship stores include Audemars Piguet,... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3347486/luxury-brands-bet-growth-well-heeled-tourists-flock-hong-kong-events?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3347486/luxury-brands-bet-growth-well-heeled-tourists-flock-hong-kong-events?utm_source=rss_feed Mon, 23 Mar 2026 02:30:13 +0000 Peggy Ye Peggy Ye Retailers and restaurant operators in Hong Kong are rethinking how they use space as rents fall and demand weakens by moving back to street-level shops and experimenting with short-term “pop-up” leases. Hong Kong Hing Kee Java Edible Bird’s Nest (HK JEBN), known locally as “Lau Soeng” – Cantonese for “upstairs” – built its business by avoiding expensive street-front rents and operating from higher floors. It is now doing the opposite. “After the pandemic, the retail market has been weak,” said... https://www.scmp.com/business/companies/article/3347466/upstairs-moves-downstairs-hong-kong-outlets-head-street-level-landlords-cut-rents?utm_source=rss_feed https://www.scmp.com/business/companies/article/3347466/upstairs-moves-downstairs-hong-kong-outlets-head-street-level-landlords-cut-rents?utm_source=rss_feed Sun, 22 Mar 2026 07:30:09 +0000 Zhu Wenqian Zhu Wenqian Chinese toymaker Pop Mart and Sony Pictures Entertainment announced on Thursday a feature film starring Labubu, the company’s most popular character. Analysts said the film was a strategic move to extend Labubu’s intellectual property (IP) value and support medium-term growth, following the trajectory of global icons like Barbie and Hello Kitty. The film, still in early development, would be a mix of live action and computer-generated imagery, Pop Mart said in a statement. Lung Ka-sing, the... https://www.scmp.com/business/companies/article/3347028/pop-marts-labubu-headed-big-screen-collaboration-sony-pictures?utm_source=rss_feed https://www.scmp.com/business/companies/article/3347028/pop-marts-labubu-headed-big-screen-collaboration-sony-pictures?utm_source=rss_feed Thu, 19 Mar 2026 00:00:16 +0000 Divia Harilela Divia Harilela The former Asia-Pacific president of luxury conglomerate Kering, Mimi Tang oversaw a portfolio of luxury brands including Gucci, Alexander McQueen and Saint Laurent for over 25 years. She is also a founding member of the Kering Foundation. How do you define style? Style is an attitude. It goes beyond mere appearances or fashion choices. What has been Hong Kong’s most iconic fashion moment in the past two decades? The Louis Vuitton fashion show, which took place in November 2023. This event... https://www.scmp.com/magazines/style/people/icons-influencers/article/3346514/their-words-mimi-tang-defines-20-years-setting-trends-hong-kong?utm_source=rss_feed https://www.scmp.com/magazines/style/people/icons-influencers/article/3346514/their-words-mimi-tang-defines-20-years-setting-trends-hong-kong?utm_source=rss_feed Mon, 16 Mar 2026 11:00:09 +0000 Zhu Wenqian Zhu Wenqian US fashion brand Guess has told customers it will close all its stores in mainland China by the end of March, pending a new business model at a time when a growing number of international fashion retailers retreat from the market amid what analysts believe are issues including weak localisation and slow decision-making. Other foreign brands that have withdrawn entirely from mainland China in recent years include US label Old Navy, UK brand Topshop, and several labels owned by Spanish fashion... https://www.scmp.com/business/banking-finance/article/3346601/guess-says-it-will-shut-all-mainland-china-stores-amid-retail-rethink?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346601/guess-says-it-will-shut-all-mainland-china-stores-amid-retail-rethink?utm_source=rss_feed Mon, 16 Mar 2026 03:12:32 +0000 Carol Yang,Xinyi Wu Carol Yang,Xinyi Wu China’s economy got off to a strong start in 2026, as several indicators registered expectation-beating expansions in the first two months – though analysts cautioned the imminent energy crisis caused by the US-Israel war in Iran would present challenges for Beijing and the world at large in the months to come. Resilience in industrial output and retail sales, as well as a small expansion in fixed-asset investment, will provide a vital boost to Beijing as it strives to achieve an economic growth... https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3346697/chinas-economy-starts-2026-strongly-retail-sales-investment-rise?utm_source=rss_feed Mon, 16 Mar 2026 02:00:10 +0000 Zhu Wenqian Zhu Wenqian Several years ago, prime ground-floor spaces in major shopping malls across Beijing and Shanghai’s business districts were commonly occupied by electric vehicle (EV) showrooms, with staff often escorting customers to car parks for test drives. Many of these stores have now closed amid sluggish EV sales – yet mall owners have not been left disappointed. Instead, a new retail landscape is emerging, filled with tenants who are proving to be even more effective at drawing crowds and boosting rental... https://www.scmp.com/business/article/3346537/china-mall-shuffle-evs-exit-whos-filling-ground-floor-showrooms?utm_source=rss_feed https://www.scmp.com/business/article/3346537/china-mall-shuffle-evs-exit-whos-filling-ground-floor-showrooms?utm_source=rss_feed Sun, 15 Mar 2026 04:00:12 +0000 Zhu Wenqian Zhu Wenqian Chow Tai Fook Jewellery Group’s recent launch of a series of high-priced gold-inlaid accessories on the mainland has sparked online debate amid China’s slowing consumer market. Last week, the Hong Kong-listed jeweller showcased several items on its official Weibo account, including a diamond-studded gold AirPods case priced at 788,800 yuan (US$115,000) and gold-inlaid hair clips costing 2,080 yuan each, containing 0.42 grams of gold. The earphone case, made with about 350 grams of gold, was... https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3346436/all-glitters-goes-viral-chow-tai-fook-unveils-us115000-gold-airpods-case?utm_source=rss_feed Fri, 13 Mar 2026 05:00:09 +0000 Peggy Ye Peggy Ye Swire Properties reported stronger underlying earnings in 2025, as the Hong Kong developer stepped up asset disposals and expanded its mainland China retail portfolio, though weakness in the city’s office market dragged the company into a headline loss. Underlying profit rose 27 per cent to HK$8.62 billion (US$1.1 billion), driven largely by gains from the disposal of noncore assets including the Brickell City Centre retail mall in Miami and several properties in Hong Kong, according to the... https://www.scmp.com/business/article/3346391/hong-kong-developers-swire-and-wharf-report-profit-growth-amid-valuation-pressure?utm_source=rss_feed https://www.scmp.com/business/article/3346391/hong-kong-developers-swire-and-wharf-report-profit-growth-amid-valuation-pressure?utm_source=rss_feed Thu, 12 Mar 2026 12:30:11 +0000 Gloria Tso Gloria Tso There’s a glow to Romi Beauty’s products – a hint of vibrant lip oil here and a dab of smooth tinted moisturiser there leaves you feeling brighter than before. That’s entirely by design, say the Singaporean founders – Arissa Cheo, Lin Ting and Yoyo Cao – who intend for the brand to highlight natural beauty rather than hide it. Consumers, especially in Asia, have responded well to Romi Beauty’s make-up and skincare hybrids. Not only has the brand been well received in its hometown, says Cao,... https://www.scmp.com/magazines/style/beauty/trends/article/3346034/romi-beautys-founders-creating-multitasking-products-asian-skin?utm_source=rss_feed https://www.scmp.com/magazines/style/beauty/trends/article/3346034/romi-beautys-founders-creating-multitasking-products-asian-skin?utm_source=rss_feed Wed, 11 Mar 2026 02:00:11 +0000 Peggy Ye Peggy Ye Hong Kong’s fragile retail recovery is clouding the outlook for shopping mall rents, with Wharf Real Estate Investment Company (REIC) warning that rising geopolitical tensions could add further uncertainty even as visitor traffic improves. The landlord of Harbour City in Tsim Sha Tsui and Times Square in Causeway Bay said the retail market showed gradual improvement in 2025 as tourism picked up. “Volume increase, however, was not often accompanied by commensurate yield increase,” the company... https://www.scmp.com/business/companies/article/3346098/middle-east-tensions-add-uncertainty-hong-kong-retail-rents-wharf-reic-says?utm_source=rss_feed https://www.scmp.com/business/companies/article/3346098/middle-east-tensions-add-uncertainty-hong-kong-retail-rents-wharf-reic-says?utm_source=rss_feed Tue, 10 Mar 2026 10:05:40 +0000 Luna Sun Luna Sun China’s consumer prices rose during the first two months of the year as a longer-than-usual Chinese New Year holiday drove a surge in spending, though analysts cautioned that Beijing might need to implement stronger measures to boost demand to sustain the recovery. The national consumer price index (CPI), a crucial gauge of inflation, rose by 0.8 per cent year on year during the January-February period, according to data released by the National Bureau of Statistics (NBS) on Monday. Readings for... https://www.scmp.com/economy/china-economy/article/3345926/chinas-consumer-prices-keep-rising-after-holiday-spending-surge?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345926/chinas-consumer-prices-keep-rising-after-holiday-spending-surge?utm_source=rss_feed Mon, 09 Mar 2026 04:08:13 +0000 Zhu Wenqian Zhu Wenqian For Steven Zhou, a 40-year-old Beijing office worker, suburban outlet stores offer a better shopping experience than urban malls, allowing him to escape the city, park his car without frustration and, most importantly, find good deals. “Outlets offer a wide selection of brands, with attractive discounts, especially on sportswear,” Zhou said. Across the mainland, outlets are expanding while traditional and luxury malls face high vacancy rates. Offering well-known brands at discounted prices,... https://www.scmp.com/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed https://www.scmp.com/business/article/3345736/chinas-shoppers-head-suburban-outlets-bright-spot-retail-property?utm_source=rss_feed Sun, 08 Mar 2026 00:30:08 +0000 Gloria Tso Gloria Tso Jeff Staple may be a hero to hypebeasts, but he has little interest in owning that status among the streetwear fanatics who catapulted him to fame in the first place. Legend has it, the sneaker designer and streetwear icon born Jeff Ng first launched his brand Staple back in 1997 after a store manager saw him wearing a T-shirt he had printed himself, and ordered some to sell in his shop. Today, his brand is as much a New York staple as the subway, the Statue of Liberty or dollar-slice pizza, and... https://www.scmp.com/magazines/style/people/icons-influencers/article/3345674/jeff-staple-designer-nike-pigeon-going-beyond-hype-sneakers-and-streetwear?utm_source=rss_feed https://www.scmp.com/magazines/style/people/icons-influencers/article/3345674/jeff-staple-designer-nike-pigeon-going-beyond-hype-sneakers-and-streetwear?utm_source=rss_feed Fri, 06 Mar 2026 22:00:08 +0000 Leopold Chen Leopold Chen Hong Kong’s retail sales rose 5.5 per cent year on year in January, with authorities crediting inbound tourism for supporting the sector. Provisional figures released by the Census and Statistics Department on Wednesday showed sales reached HK$37.3 billion (US$4.77 billion) in January, marking the ninth straight month of growth since May 2025, after 14 consecutive months of decline. The increase ended a four-month streak of growth above 6 per cent, but the government cautioned that the slower... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345412/hong-kongs-retail-sales-rise-55-january-tourists-loosen-purse-strings?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3345412/hong-kongs-retail-sales-rise-55-january-tourists-loosen-purse-strings?utm_source=rss_feed Wed, 04 Mar 2026 09:07:55 +0000 Peggy Ye Peggy Ye McDonald’s has sold another Hong Kong retail property for HK$93.5 million (US$11.9 million), extending its asset sell-down and bringing total proceeds to about HK$580 million. The ground-floor unit at Mount Sterling Mall in Mei Foo Sun Chuen, Lai Chi Kok, was sold on February 27 to Huge Power (China) Ltd., according to Land Registry records. Companies Registry filings show the directors as Kwok Chong-wah, Kwok Lap-yin and Kwok Shun-sing, members of a veteran investor family. The 6,915 square... https://www.scmp.com/property/article/3345368/mcdonalds-sells-hong-kong-shop-outside-disposal-plan-us119-million?utm_source=rss_feed https://www.scmp.com/property/article/3345368/mcdonalds-sells-hong-kong-shop-outside-disposal-plan-us119-million?utm_source=rss_feed Wed, 04 Mar 2026 06:28:54 +0000 Coco Feng Coco Feng The iPhone 17e, the entry-level addition to Apple’s latest iPhone 17 series, faces an uphill battle in China’s highly competitive smartphone market, according to analysts, as presales for the new handset start on Wednesday. The new budget-priced iPhone “lacks competitiveness”, said IDC China research manager Guo Tianxiang, who pointed out that the handset “still uses outdated moulds, with the chip being the only major upgrade”. “The shortcomings in imaging and display persist, making its overall... https://www.scmp.com/tech/tech-trends/article/3345273/will-apples-budget-priced-iphone-17e-make-splash-chinas-tough-smartphone-market?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3345273/will-apples-budget-priced-iphone-17e-make-splash-chinas-tough-smartphone-market?utm_source=rss_feed Tue, 03 Mar 2026 11:00:14 +0000 Nicholas Spiro Nicholas Spiro A decade ago, some investors believed the United States’ retail industry was going the way of the subprime mortgage market, whose collapse triggered the 2008 global financial crisis. The combination of the overbuilding of shopping centres and the dramatic rise of online shopping plunged bricks-and-mortar stores into crisis. Fears of a “retail apocalypse” were rife. The double whammy of overcapacity and the “Amazon effect” also hit the United Kingdom’s retail sector hard, with prominent stores... https://www.scmp.com/opinion/asia-opinion/article/3345094/unique-resilience-australias-retail-property-deserves-attention?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3345094/unique-resilience-australias-retail-property-deserves-attention?utm_source=rss_feed Mon, 02 Mar 2026 06:30:08 +0000 Cao Li Cao Li China’s major sportswear makers have shrugged off soft consumer spending and a warm winter, according to analysts. Retail sales in China’s sportswear sector picked up in the first two months of 2026 and beat expectations, helped by fresh policy support and Chinese New Year demand, analysts said. Separately, Chinese households also tuned into the Winter Olympics, where domestic sportswear giants Li Ning and Anta had high visibility. “We are turning more positive on the China sportswear industry... https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed Sun, 01 Mar 2026 10:00:18 +0000 Cao Li Cao Li At Pop Mart’s shop in Hong Kong’s bustling Causeway Bay shopping district, a display of the toymaker’s newly launched character, Merodi, drew little attention on Friday morning. “A few people are buying it,” a salesperson said. “It’s not very well known yet.” The new series, Merodi After School, features a mischievous little girl with the magical ability to talk to animals. It was created by Taiwanese artist Will Chen Wei-hua. The launch came two months after Pop Mart’s previous debut,... https://www.scmp.com/business/companies/article/3344856/merodi-debut-hong-kong-shows-pop-marts-struggle-beyond-ip-darling-labubu?utm_source=rss_feed https://www.scmp.com/business/companies/article/3344856/merodi-debut-hong-kong-shows-pop-marts-struggle-beyond-ip-darling-labubu?utm_source=rss_feed Fri, 27 Feb 2026 08:45:18 +0000 Cheryl Arcibal Cheryl Arcibal Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, reported a 36.2 per cent year-on-year jump in first-half net profit to HK$10.25 billion (US$1.3 billion). Revenue rose 32 per cent to HK$52.7 billion for the six months ended December from a year earlier, while operating income increased 10.7 per cent to HK$13.4 billion, the developer said in a filing to the Hong Kong stock exchange on Thursday. Underlying profit, which discounts property revaluations, gained... https://www.scmp.com/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed https://www.scmp.com/business/article/3344741/shkp-hong-kongs-bellwether-developer-posts-36-jump-first-half-net-profit?utm_source=rss_feed Thu, 26 Feb 2026 10:23:04 +0000 Gloria Tso Gloria Tso From Brussels to Beijing to Hong Kong and beyond, few European luxury brands have built as strong a presence in Asia as Delvaux, the world’s oldest luxury leather goods maison. Spearheading much of that formidable growth in the region is CEO Jean-Marc Loubier, who isn’t interested in using stiff economic terms to talk about the business. The long-standing luxury visionary instead refers to consumers as “clients” and reimagines Delvaux’s accessories as architectural icons of the brand’s nearly... https://www.scmp.com/magazines/style/people/luxury-ceos/article/3343670/style-edit-delvaux-ceo-jean-marc-loubier-brands-living-legacy-and-new-hong-kong-flagship?utm_source=rss_feed https://www.scmp.com/magazines/style/people/luxury-ceos/article/3343670/style-edit-delvaux-ceo-jean-marc-loubier-brands-living-legacy-and-new-hong-kong-flagship?utm_source=rss_feed Wed, 25 Feb 2026 02:08:17 +0000 Brian Rhoads,Raymond Ma Brian Rhoads,Raymond Ma Chinese consumers boosted their spending by 8.6 per cent in the first four days of this year’s extended Lunar New Year break amid government stimulus measures. Traffic increased 4.5 per cent at 78 key shopping streets in the first three days of the Spring Festival compared with last year’s break, while revenue rose 4.8 per cent, according to the Ministry of Commerce. The nine-day holiday, which finished on Monday, also set records for domestic and overseas travel. The increase in holiday... https://www.scmp.com/plus/economy/china-economy/article/3344452/chinas-weak-consumption-gets-lunar-new-year-boost?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3344452/chinas-weak-consumption-gets-lunar-new-year-boost?utm_source=rss_feed Tue, 24 Feb 2026 09:05:59 +0000 Eunice Xu Eunice Xu Chinese artificial intelligence glasses enjoyed a sales boom over the Spring Festival, fuelled by pent-up consumer demand and a new national subsidy. Huaqiangbei, a subdistrict in Shenzhen that is home to the world’s biggest electronics wholesale market, saw total revenue jump 35 per cent year on year during the Spring Festival, led by strong demand for AI glasses, according to a report by the 21st Century Business Herald daily newspaper. Sales of AI glasses surged up to 80 per cent, while those... https://www.scmp.com/tech/tech-trends/article/3344338/ai-eyewear-sees-brisk-sales-during-chinas-spring-festival?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3344338/ai-eyewear-sees-brisk-sales-during-chinas-spring-festival?utm_source=rss_feed Mon, 23 Feb 2026 09:30:08 +0000 Gloria Tso Gloria Tso Amanda Cheung – entrepreneur, philanthropist and entertaining conversationalist – is quickly jotting down notes and sketching out mind maps when I catch up with her on an average Wednesday afternoon. The born-and-raised Hongkonger is managing director of the charity First Initiative Foundation (FIF), established in 2010 by her mother, jewellery designer and philanthropist Michelle Ong. Cheung seems to talk – and think – with her hands, as if an endless stream of thoughts and ideas is at her... https://www.scmp.com/magazines/style/people/icons-influencers/article/3344294/amanda-cheung-reimagining-philanthropy-nightlife-and-heritage?utm_source=rss_feed https://www.scmp.com/magazines/style/people/icons-influencers/article/3344294/amanda-cheung-reimagining-philanthropy-nightlife-and-heritage?utm_source=rss_feed Mon, 23 Feb 2026 07:15:08 +0000 Cao Li Cao Li China’s shop rents have slid back to 2018 levels as subdued consumer spending continues to weigh on the retail sector, with analysts expecting the pressure to persist for another one to two years. In the second half of 2025, average rents across 100 major commercial streets in 15 key mainland cities fell to 24 yuan (US$3.50) per square metre per day — the lowest level since the second half of 2018 — according to a report published on Monday by independent real estate research firm China Index... https://www.scmp.com/business/article/3344308/empty-shops-falling-rents-commercial-property-takes-hit-china-retail-slump?utm_source=rss_feed https://www.scmp.com/business/article/3344308/empty-shops-falling-rents-commercial-property-takes-hit-china-retail-slump?utm_source=rss_feed Mon, 23 Feb 2026 06:30:07 +0000 Ralph Jennings Ralph Jennings Chinese travellers are outspending their Asian peers at the region’s airports in search of gifts, food and luxury purchases, a trade association has found. Passengers from China have led the recovery in Asia’s airport retail since the Covid-19 pandemic, spending twice the regional average on luxury goods, according to a study by the Airports Council International (ACI) Asia-Pacific and Middle East released earlier this month. China’s travellers have logged the “highest spend per passenger of any... https://www.scmp.com/economy/china-economy/article/3344297/chinese-shoppers-are-asias-biggest-airport-spenders-study-finds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3344297/chinese-shoppers-are-asias-biggest-airport-spenders-study-finds?utm_source=rss_feed Mon, 23 Feb 2026 06:00:12 +0000 Peggy Ye Peggy Ye The surge in gold prices has brought a wave of new investment-focused bullion retailers to Hong Kong’s prime shopping areas, adding a distinct segment alongside traditional jewellery merchants. These retailers – which sell gold coins and bars, rather than ornamental pieces – have taken up ground-floor store spaces that were left vacant during the city’s post-pandemic recovery. Their rapid expansion has been followed by the return of high-end jewellery vendors, a development that has helped... https://www.scmp.com/business/commodities/article/3344102/investment-gold-retailers-move-vacant-hong-kong-high-street-shops-metals-rise?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3344102/investment-gold-retailers-move-vacant-hong-kong-high-street-shops-metals-rise?utm_source=rss_feed Sun, 22 Feb 2026 01:30:14 +0000 Reuters Reuters Quentin Griffiths, who co-founded British fast-fashion retailer Asos, has died after a fall from a balcony in Thailand, Thai police said on Friday. Police said that Griffiths, 58, had fallen from the 17th floor of a flat block in the seaside resort city of Pattaya on February 9. The police went to the scene and found the body of a British national, whom they identified as Quentin John Griffiths, on the ground directly below the balcony, they said. Police said initial investigations suggested... https://www.scmp.com/news/world/europe/article/3344176/co-founder-british-retailer-asos-dies-after-falling-balcony-thailand?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3344176/co-founder-british-retailer-asos-dies-after-falling-balcony-thailand?utm_source=rss_feed Fri, 20 Feb 2026 13:51:56 +0000 Mandy Zuo Mandy Zuo China is gearing up to harness the extended Lunar New Year holiday to attract more spending by international tourists, as the country looks to shake off a recent economic slowdown and pivot towards consumption-driven growth. In a rare joint initiative by nine central government departments, Beijing announced plans earlier this month to turn the holiday – which this year began on Sunday and runs through February 23 – into a “consumption feast that links regions and engages everyone”. The move... https://www.scmp.com/economy/china-economy/article/3343743/china-targets-foreign-tourists-lunar-new-year-consumption-feast?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343743/china-targets-foreign-tourists-lunar-new-year-consumption-feast?utm_source=rss_feed Wed, 18 Feb 2026 13:00:10 +0000 Cao Li Cao Li The world’s two largest brewers faced starkly diverging realities in China in 2025 and rather than it being about taste or popularity, the contrast appears to largely boil down to a shift in the nation’s drinking habits, sparked – in part – by the economic downturn. During the year, Budweiser Brewing APAC, the Asian subsidiary of the Belgian beer giant Anheuser-Busch InBev, posted its biggest decline in profit growth since 2020, with the company’s CEO Yanjun Cheng stating last week, “Our... https://www.scmp.com/business/article/3343814/budweiser-and-heineken-face-polar-opposite-fates-china-punters-favour-home-comforts?utm_source=rss_feed https://www.scmp.com/business/article/3343814/budweiser-and-heineken-face-polar-opposite-fates-china-punters-favour-home-comforts?utm_source=rss_feed Wed, 18 Feb 2026 04:00:09 +0000 Daniel Ren Daniel Ren China’s more than 100,000 home furnishing companies - most of which are micro businesses - have entered a tumultuous phase as a property slump and persistent deflationary pressure prevent them from making profits. With no property resurgence in sight, the industry, which employs millions of labourers across the country, was likely to see thousands of players expelled from the highly competitive market this year, according to company officials and analysts. “Involution is the name of the game in... https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343827/sofa-so-bad-chinas-home-furnishing-sector-hits-do-or-die-moment?utm_source=rss_feed Wed, 18 Feb 2026 02:00:09 +0000 Zhu Wenqian Zhu Wenqian In the run-up to Lunar New Year, Chinese consumers were busy choosing gold jewellery, a traditional gift with deep cultural connotations, as strong market sentiment overshadowed sharp fluctuations in gold prices and assessments of the sector’s outlook by investment banks remained upbeat. Jewellers offered small discounts to boost holiday sales. For example, Chow Tai Fook Jewellery Group, China’s largest retailer by store count, launched an 80 yuan (US$12) discount per gram on gold items in its... https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343782/strong-lunar-new-year-demand-fuels-chinas-gold-jewellery-market?utm_source=rss_feed Tue, 17 Feb 2026 06:00:15 +0000 Zhu Wenqian Zhu Wenqian US warehouse retailer Sam’s Club has gained traction among Chinese shoppers by strengthening localisation and launching more China-tailored products, continuing to expand even as many foreign retailers have scaled back their mainland operations or exited the market. Instead of replicating its US model, Walmart-owned Sam’s Club has introduced products catering to local tastes, including copper gourd ornaments, ginseng and some traditional food items in the days leading up to the Lunar New Year... https://www.scmp.com/business/china-business/article/3343683/walmarts-sams-club-cracks-china-market-formula-even-foreign-retailers-shut-shop?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343683/walmarts-sams-club-cracks-china-market-formula-even-foreign-retailers-shut-shop?utm_source=rss_feed Tue, 17 Feb 2026 04:30:07 +0000 Connor Mycroft Connor Mycroft Curry fishball plushies, novelty minibus signs and products inspired by Hong Kong iconography emerged as bestsellers at the city’s biggest Lunar New Year fair, with one vendor saying he made more than HK$100,000 (US$12,790) in daily sales. From first-time sellers to charities, vendors were busy attracting customers with their locally designed merchandise on Wednesday as tens of thousands of festivalgoers lined the booths at Victoria Park’s Lunar New Year Fair. Among the busiest stalls was Lo... https://www.scmp.com/news/hong-kong/society/article/3343764/curry-fishball-toys-hit-hong-kong-nostalgia-shines-lunar-new-year-fair?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3343764/curry-fishball-toys-hit-hong-kong-nostalgia-shines-lunar-new-year-fair?utm_source=rss_feed Mon, 16 Feb 2026 14:25:45 +0000 Frank Chen Frank Chen President Xi Jinping has deemed the acceleration of consumption and innovation, particularly in artificial intelligence, an essential task as the world’s second-largest economy seeks to overcome challenges in 2026. The president’s priorities, officially laid out before the year began, were revealed to the public in a speech excerpt published on Monday by the ruling Communist Party’s leading theoretical journal. Xi emphasised the need to boost domestic demand, giving it the lion’s share of... https://www.scmp.com/economy/china-economy/article/3343726/chinas-xi-prioritises-ai-plus-and-consumer-spending-counter-economic-headwinds?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343726/chinas-xi-prioritises-ai-plus-and-consumer-spending-counter-economic-headwinds?utm_source=rss_feed Mon, 16 Feb 2026 07:58:18 +0000 SCMP Style Reporter SCMP Style Reporter What if you could turn your beauty routine into a pursuit of some very desirable extras? That’s the approach of Lane Crawford’s HK$8.8M Beauty Rewards Programme. It lets you earn your first stamp when you spend HK$500 on beauty products. Then, you have until March 31 to collect up to 30 stamps via the Lane Crawford app. Stamps can be redeemed for a rotating line-up of freebies, with new choices dropping every two weeks. Redemption levels are set at five, 10 and 30 stamps, which means you face... https://www.scmp.com/magazines/style/beauty/beauty-news/article/3343472/style-edit-lane-crawfords-smartly-curated-programme-beauty-rewards?utm_source=rss_feed https://www.scmp.com/magazines/style/beauty/beauty-news/article/3343472/style-edit-lane-crawfords-smartly-curated-programme-beauty-rewards?utm_source=rss_feed Mon, 16 Feb 2026 02:00:29 +0000 Joshua Hendren Joshua Hendren In luxury watchmaking, the experience surrounding a purchase is now as carefully constructed as the watches themselves, prompting a wave of new spaces designed for hosting clients. Alongside their boutiques, a handful of watchmakers have opened environments that feel more like private homes, where collectors can spend time with the brand in a way that standard retail settings don’t allow. The shift reflects a broader push to build deeper relationships with clients through new hospitality... https://www.scmp.com/magazines/style/luxury/watches/article/3343450/how-luxury-watchmakers-such-audemars-piguet-are-redefining-retail-experience-clients?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/watches/article/3343450/how-luxury-watchmakers-such-audemars-piguet-are-redefining-retail-experience-clients?utm_source=rss_feed Sun, 15 Feb 2026 22:00:09 +0000 Themis Qi Themis Qi Around a decade ago, aboard a train winding through China’s landscape, Wang Ning, the founder and chairman of Beijing-founded international art toy brand Pop Mart, shared with designer Kenny Wong Shun-ming the story of his early attempts at entrepreneurship. As a fresh graduate, Wang struggled to sell affordable men’s suits sourced from Yiwu in Zhejiang province, eastern China, experimenting with small-scale arbitrage and learning first-hand how difficult it was to connect products with... https://www.scmp.com/business/companies/article/3343503/can-pop-mart-turn-viral-hits-lasting-icons-molly-and-labubu-offer-answer?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343503/can-pop-mart-turn-viral-hits-lasting-icons-molly-and-labubu-offer-answer?utm_source=rss_feed Sat, 14 Feb 2026 02:00:13 +0000 Carol Yang Carol Yang Beijing has for the first time revealed the intricate composition of China’s consumer price index (CPI) basket, and a fresh recalibration sees it shift more weight towards services and new types of consumption goods. The basket adjustment itself, conducted every five years, comes as the Chinese leadership seeks to steer the world’s second-largest economy out of deflationary pressure while avoiding a prolonged Japan-style spiralling of prices. The National Bureau of Statistics (NBS) has... https://www.scmp.com/economy/china-economy/article/3343465/china-overhauls-consumer-price-basket-never-seen-unveiling-its-composition?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343465/china-overhauls-consumer-price-basket-never-seen-unveiling-its-composition?utm_source=rss_feed Fri, 13 Feb 2026 10:00:14 +0000 Luna Sun Luna Sun China’s marriage registrations edged up in 2025, offering a glimmer of hope for the birth outlook this year, but analysts caution that deeper demographic headwinds remain entrenched and difficult to reverse without broader policy support. China recorded 6.76 million marriage registrations nationwide in 2025, according to the Ministry of Civil Affairs, marking a 10.8 per cent increase from a year earlier, or 657,000 more couples. The number of marriage registrations is closely watched in China,... https://www.scmp.com/economy/china-economy/article/3343330/chinas-marriage-rebound-will-more-2025-knots-bring-more-baby-bumps-2026?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343330/chinas-marriage-rebound-will-more-2025-knots-bring-more-baby-bumps-2026?utm_source=rss_feed Fri, 13 Feb 2026 01:00:08 +0000