https://www.scmp.com/rss/326658/feed Joanna Lam covered consumer markets, companies and properties for the Post from 2017 until 2020. Prior to her role on the business desk, she worked at The Standard, Hong Kong Tatler and The Peak magazine. She has a degree in English language and communication from Cardiff University. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com At a time most retailers are turning to digital channels to stay competitive, one Swiss luxury watchmaker is doing things differently. Omega is sticking with good old-fashioned physical shops to underpin its expansion in China even as e-commerce takes the industry by storm. “Sometimes [luxury shopping] is about waiting and longing for the product and experiencing the build-up of emotions as you personally visit the store and touch the product itself,” said Raynald Aeschlimann, president and CEO... https://www.scmp.com/business/companies/article/3008916/swiss-watchmaker-omega-defies-e-commerce-boom-expanding-physical?utm_source=rss_feed https://www.scmp.com/business/companies/article/3008916/swiss-watchmaker-omega-defies-e-commerce-boom-expanding-physical?utm_source=rss_feed Sun, 05 May 2019 10:11:30 +0000 Hong Kong is the world’s most expensive city to live in, die in and – guess what – get hitched in. The average cost of getting married in the city rose by 10 per cent last year to HK$360,577 (US$45,982), according to online lifestyle media and e-business company ESDlife. In a city where fewer people are getting married and having families, couples are also marrying later, because this allows them to pay for a wedding of their dreams. They are spending more on their weddings in pursuit of quality... https://www.scmp.com/business/companies/article/3006573/hongkongers-must-save-least-hk360577-dream-wedding-worlds-most?utm_source=rss_feed https://www.scmp.com/business/companies/article/3006573/hongkongers-must-save-least-hk360577-dream-wedding-worlds-most?utm_source=rss_feed Sat, 20 Apr 2019 02:00:10 +0000 Narrowing the gender gap in the workplace could boost global gross domestic product by 31 per cent or US$28 trillion, the size of the US and China GDP combined, according to a report by BofA Merrill Lynch. But the current pace at which the gap is reducing, it will take 202 years to close the gap. And analysts say that there is still a long way to go to advance gender equality in the workplace as millions celebrate International Women’s Day on Friday. By 2020 women are expected to hold US$72... https://www.scmp.com/business/companies/article/2189243/which-economy-estimated-us28-trillion-bigger-us-or-china-its?utm_source=rss_feed https://www.scmp.com/business/companies/article/2189243/which-economy-estimated-us28-trillion-bigger-us-or-china-its?utm_source=rss_feed Fri, 08 Mar 2019 11:30:40 +0000 China’s insurance market will quadruple in 14 years to US$2.36 trillion, on the way speeding by the US, currently the world’s leader, according to Swiss Re Institute. Insurance premiums will hit US$2.36 trillion in 2032, up from about US$575 billion in 2018, the Zurich-based re-insurance company said Thursday. The US market is worth about US$1.47 trillion. “Asia is the place to be [for insurers],” said Jerome Haegeli, Swiss Re Group’s chief economist. “The region and its engine of growth are... https://www.scmp.com/business/article/2189033/china-will-become-worlds-biggest-insurance-market-mid-2030s-speeding-past?utm_source=rss_feed https://www.scmp.com/business/article/2189033/china-will-become-worlds-biggest-insurance-market-mid-2030s-speeding-past?utm_source=rss_feed Thu, 07 Mar 2019 10:03:12 +0000 XTep International Holdings will form a venture in China with Wolverine World Wide to sell Merrell footwear, Saucony running shoes, apparel and accessories, adopting a similar multi-brand business strategy as its bigger Fujian compatriot Anta Sports Products. Xtep, based in Quanzhou city of Fujian province, will commit 155 million yuan (US$23 million) in initial funding toward the 50:50 venture, which aims to open between 400 and 500 stores under each of the Merrell and Saucony brands in China... https://www.scmp.com/business/companies/article/2188743/xtep-forms-china-venture-wolverine-sell-merrell-saucony-shoes-and?utm_source=rss_feed https://www.scmp.com/business/companies/article/2188743/xtep-forms-china-venture-wolverine-sell-merrell-saucony-shoes-and?utm_source=rss_feed Tue, 05 Mar 2019 10:53:54 +0000 Lifestyle International Holdings, the operator of Hong Kong’s popular Sogo department stores, saw its net profit plunge by a half last year even as sales and turnover grew. Total proceeds from sales jumped 14 per cent to HK$11.7 billion (US$1.5 billion), while turnover grew 16 per cent to HK$4.36 billion (US$555 million), company said on Monday. That was not enough to prevent net profit falling by almost 50 per cent to HK$1.69 billion (US$ 215 million), roughly in line with the HK$1.7 billion... https://www.scmp.com/business/companies/article/2188584/lifestyle-international-sees-profit-plunge-half-even-sales-rise?utm_source=rss_feed https://www.scmp.com/business/companies/article/2188584/lifestyle-international-sees-profit-plunge-half-even-sales-rise?utm_source=rss_feed Mon, 04 Mar 2019 12:22:53 +0000 When US beauty and personal care retailer and manufacturer Estée Lauder crossed US$1 billion in sales and French personal care company L’Oréal reported a 25 per cent growth in sales in Asia-Pacific in the quarter ending in December, their efforts in the region – especially mainland China – appeared to have paid off. Some analysts, however, said, with China’s economy slowing down further, growth in the sector could taper off too. “Overall, China’s beauty and personal care market has showed slower... https://www.scmp.com/business/companies/article/2187553/will-chinas-beauty-sector-lose-it-glow-growth-slows-30-year-low?utm_source=rss_feed https://www.scmp.com/business/companies/article/2187553/will-chinas-beauty-sector-lose-it-glow-growth-slows-30-year-low?utm_source=rss_feed Mon, 25 Feb 2019 23:04:51 +0000 Millions of besotted men around the world will shower their partners with gifts today, many opting for jewellery to symbolise their undying love on Valentine’s Day. But shiny new necklaces and earrings may not be the best way for men to woo their other halves in China, where a growing number of affluent, independent women say they would rather buy their own. Crystal Zhang, 32, said her boyfriend has tended to choose classic designs that are a bit on the boring side when buying her items of... https://www.scmp.com/business/companies/article/2186014/nice-bit-dull-why-chinas-growing-ranks-affluent-independent-women?utm_source=rss_feed https://www.scmp.com/business/companies/article/2186014/nice-bit-dull-why-chinas-growing-ranks-affluent-independent-women?utm_source=rss_feed Thu, 14 Feb 2019 00:03:24 +0000 Japanese discount megastore Don Quijote is set to open its first Hong Kong location in the middle of this year, occupying a basement location in Tsim Sha Tsui, in a bid to tap local consumers and booming growth in mainland tourism. The Tokyo-based chain, known for its diverse product offerings, will move into 15,000 sq ft basement space of Mira Place Two, according to sources. Miramar Hotel and Investment, the owner of the building, has yet to make an announcement on the lease agreement. Don... https://www.scmp.com/business/companies/article/2186020/japanese-megastore-don-quijote-open-its-first-hong-kong-location?utm_source=rss_feed https://www.scmp.com/business/companies/article/2186020/japanese-megastore-don-quijote-open-its-first-hong-kong-location?utm_source=rss_feed Wed, 13 Feb 2019 11:45:52 +0000 Affluent Chinese consumers have for years shown a preference for global, well-known brands and labels. But with growing sophistication in tastes and a penchant for unique styles, the well-heeled are now increasingly gravitating towards high-end Chinese designers. “While global forces will continue to impact China’s luxury market, domestically there’s this whole new wave [of Chinese designers] that is coming through and is transforming the market,” said Simon Tye, executive director of Hong... https://www.scmp.com/business/companies/article/2185070/luxury-goes-local-chinese-shoppers-gravitate-towards-home-grown?utm_source=rss_feed https://www.scmp.com/business/companies/article/2185070/luxury-goes-local-chinese-shoppers-gravitate-towards-home-grown?utm_source=rss_feed Wed, 06 Feb 2019 00:00:30 +0000 Atelier Technology, a UK-based enterprise cloud platform that connects the jewellery supply chain, is banking on mainland China’s digitalised market and manufacturing sector for expansion and will open an office in Guangzhou in May. “When I go to mainland China, I feel like I’m seeing the future and living the future. For this reason, I believe China is a very big market for us and, therefore, I’m pushing very hard for us to move into the market,” Dominic Hill, co-founder and managing director... https://www.scmp.com/business/companies/article/2185060/jewellery-supply-chain-platform-firm-atelier-technology-banking?utm_source=rss_feed https://www.scmp.com/business/companies/article/2185060/jewellery-supply-chain-platform-firm-atelier-technology-banking?utm_source=rss_feed Tue, 05 Feb 2019 07:20:07 +0000 Forget doing it for the ’gram. A growing number of Chinese tourists are doing it for the ’chat – specifically WeChat, the ubiquitous app that functions as WhatsApp, Facebook and Apple Pay combined. In the past, Chinese tourists had a reputation for their voracious appetite for luxury goods. But increasingly, more are choosing unique “social experiences” over shopping malls and boutiques, a new study by management consultancy Oliver Wyman has found. Chinese people spent $258 billion in 2017 on... https://www.scmp.com/society/chinese-tourists-choose-experience-over-shopping-because-wechat/article/3000714?utm_source=rss_feed https://www.scmp.com/society/chinese-tourists-choose-experience-over-shopping-because-wechat/article/3000714?utm_source=rss_feed Mon, 04 Feb 2019 09:29:55 +0000 China’s vast and growing middle class remains as curious as ever about the world beyond its borders, as outbound tourism continues to grow by double digits, yet patterns of consumption are shifting in important ways as the tourism boom enters its second decade. Once renowned as voracious consumers of branded goods while travelling beyond China’s shores, mainland tourists are now beginning to spend – and behave – in a different way, in an important shift which many analysts believe has been... https://www.scmp.com/business/china-business/article/2184534/chinas-travel-bug-has-taken-social-media-tinge-and-means?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2184534/chinas-travel-bug-has-taken-social-media-tinge-and-means?utm_source=rss_feed Thu, 31 Jan 2019 23:00:30 +0000 Sales at some of Hong Kong’s best known jewellery and cosmetics retailers sagged in the final three months of 2018, as consumer sentiment weakened and the new mega bridge and high speed rail between the mainland and the city failed to whisk in a lot of big spenders. Chow Tai Fook, the world’s largest listed jeweller by market value, said that October-December sales in Hong Kong and Macau were down by 6 per cent, compared to the sales in the same period the year before. It was even a more painful... https://www.scmp.com/business/companies/article/2182899/hey-big-spender-hong-kong-jewellery-cosmetics-retailers-want-you?utm_source=rss_feed https://www.scmp.com/business/companies/article/2182899/hey-big-spender-hong-kong-jewellery-cosmetics-retailers-want-you?utm_source=rss_feed Mon, 21 Jan 2019 22:03:08 +0000 Hong Kong-listed luxury cosmetics brand L’Occitane International’s US$900 million acquisition of premium British skincare brand Elemis points to the industry’s growing interest in niche premium brands and the e-commerce segment as an increasing chunk of purchases shift online, according to market analysts. “Elemis has a strong reputation in anti-ageing and a strong heritage as a professional premium spa brand, along with a credible range of more functional hi-tech products,” said Pascal Martin,... https://www.scmp.com/business/companies/article/2182354/global-cosmetics-giants-push-deeper-personal-care-niche-brand?utm_source=rss_feed https://www.scmp.com/business/companies/article/2182354/global-cosmetics-giants-push-deeper-personal-care-niche-brand?utm_source=rss_feed Wed, 16 Jan 2019 22:33:26 +0000 Hong Kong’s compulsory pension scheme, the Mandatory Provident Fund, reported its lowest annual return since 2011, amid a slump in the Hong Kong and mainland China stock markets, according to Refinitiv, the former risk and financial business of Thomson Reuters. According to Refinitiv, the loss in 2018 – 8.21 per cent – is worse only to the decline reported in seven years ago, 8.94 per cent in 2011. This is in big contrast to 2017, when it gained 20.94 per cent, its second strongest performance... https://www.scmp.com/business/companies/article/2180762/hong-kongs-mandatory-provident-fund-reports-its-lowest-annual?utm_source=rss_feed https://www.scmp.com/business/companies/article/2180762/hong-kongs-mandatory-provident-fund-reports-its-lowest-annual?utm_source=rss_feed Fri, 04 Jan 2019 12:08:02 +0000 Footfall and retail spending at major shopping malls in Hong Kong managed to defy gloomy expectations this holiday season, with initial data pointing to solid year-on-year growth over Christmas, according to mall operators. Sun Hung Kai Properties (SHKP) reported 9 million visitors at its 15 major shopping malls during the six-day period through December 26, a rise of 12 per cent from last year. Retail spending at the shopping centres during the period totalled HK$230 million (US$29.37 million),... https://www.scmp.com/business/article/2180037/hong-kong-mall-operators-report-solid-visitor-numbers-and-sales-growth?utm_source=rss_feed https://www.scmp.com/business/article/2180037/hong-kong-mall-operators-report-solid-visitor-numbers-and-sales-growth?utm_source=rss_feed Mon, 31 Dec 2018 00:03:22 +0000 Hong Kong property developers are beginning to roll out incentives to help shield homebuyers from the latest borrowing costs, after the Hong Kong Monetary Authority nudged up the base lending rate by a quarter-point on Thursday, matching the December rate decision by the US central bank on Wednesday. Sino Land became among the first to unveil a package of buyer incentives on Thursday afternoon, including a mortgage rate from as low as 2.375 per cent in conjunction with Bank of East Asia, in... https://www.scmp.com/business/article/2179102/sino-land-rolls-out-homebuyer-incentives-package-including-low-mortgage?utm_source=rss_feed https://www.scmp.com/business/article/2179102/sino-land-rolls-out-homebuyer-incentives-package-including-low-mortgage?utm_source=rss_feed Fri, 21 Dec 2018 08:23:28 +0000 Luxury down jacket maker Canada Goose has postponed the opening of its first store in China. The company told the South China Morning Post that the Beijing shop, originally set to open Saturday, is still under construction. But this explanation flies in the face of what everyone is thinking.  The delay comes after Canada’s arrest of a Chinese executive has escalated into a fully-fledged diplomatic crisis that has prompted strong protests from China. Beijing has threatened Ottawa with “grave... https://www.scmp.com/business/canada-goose-postpones-beijing-store-opening-amid-tensions-over-huawei-cfo-arrest/article/2178006?utm_source=rss_feed https://www.scmp.com/business/canada-goose-postpones-beijing-store-opening-amid-tensions-over-huawei-cfo-arrest/article/2178006?utm_source=rss_feed Fri, 14 Dec 2018 09:30:00 +0000 High-end down jacket maker Canada Goose is postponing the opening of its first flagship store in China – the world’s largest luxury market – amid growing tensions between Beijing and Ottawa following the arrest of Huawei chief financial officer Sabrina Meng Wanzhou. The fashionable parka brand cited “ongoing construction” to the South China Morning Post as the reason why its first physical store – in trendy Taikoo Li Sanlitun in Beijing – will not open on Saturday, as originally scheduled. It... https://www.scmp.com/business/companies/article/2177966/canada-goose-delays-opening-its-first-flagship-store-china-amid?utm_source=rss_feed https://www.scmp.com/business/companies/article/2177966/canada-goose-delays-opening-its-first-flagship-store-china-amid?utm_source=rss_feed Fri, 14 Dec 2018 04:45:00 +0000 Dolce & Gabbana last week cancelled their Shanghai fashion show in the biggest overseas market for the Milan luxury designer, bowing to public backlash from a controversial advertisement and an Instagram post that offended Chinese consumers. The two founders of their eponymous fashionwear designer apologised in a video post, five days after the fracas first erupted. It was the kind of publicity that no company needs, not least the kind of company whose very livelihood relies on public... https://www.scmp.com/business/companies/article/2175852/dolce-gabbanas-china-faux-pas-shows-how-global-brands-must-tread?utm_source=rss_feed https://www.scmp.com/business/companies/article/2175852/dolce-gabbanas-china-faux-pas-shows-how-global-brands-must-tread?utm_source=rss_feed Sat, 01 Dec 2018 01:48:00 +0000 Chow Tai Fook Jewellery, the world’s largest listed jeweller by market value, said on Thursday that it plans to open 400 new shops in the fiscal year beginning in April this year, with an emphasis on capturing the market potential in secondary cities in China. While the group foresees a sales slowdown in the remaining months of the current financial year which ends in March, they hope to drive sales through a multi-brand strategy and innovative retail experience. The company reported operating... https://www.scmp.com/business/companies/article/2175696/chow-tai-fook-reports-operating-profit-247-cent-fiscal-half-year?utm_source=rss_feed https://www.scmp.com/business/companies/article/2175696/chow-tai-fook-reports-operating-profit-247-cent-fiscal-half-year?utm_source=rss_feed Thu, 29 Nov 2018 13:54:32 +0000 On Saturday, 103, 231 mainland Chinese visitors crossed the Hong Kong-Zhuhai-Macau Bridge on their way to the city, according to the Immigration Department, and this has led some market watchers to believe that an influx in tourists will rejuvenate Hong Kong’s retail leasing sector. The districts expected to benefit include Tsim Sha Tsui and Tung Chung, and the sectors that could report a surge in sales include food and beverage, pharmacies and health care. Hong Kong gets the crowds it wants... https://www.scmp.com/business/article/2174128/influx-bridge-and-rail-visitors-mainland-china-could-boost-retail-leasing?utm_source=rss_feed https://www.scmp.com/business/article/2174128/influx-bridge-and-rail-visitors-mainland-china-could-boost-retail-leasing?utm_source=rss_feed Wed, 21 Nov 2018 01:03:27 +0000 The British luxury clothing brand Burberry’s strategy of reaching out to its young and tech-savvy audience in Asia on social channels – a medium online consumers rule – is proving extremely popular. The 162-year-old brand’s debut of its monthly limited-edition collection on mobile chat apps WeChat, Line and Kakao that are popular in China, Japan and South Korea, and Instagram, was a hit. The company said the new launches, called B Series, which will take place on the 17th of every month, have... https://www.scmp.com/business/companies/article/2172364/burberrys-new-designer-transforms-storied-brand-new-logo-and?utm_source=rss_feed https://www.scmp.com/business/companies/article/2172364/burberrys-new-designer-transforms-storied-brand-new-logo-and?utm_source=rss_feed Fri, 09 Nov 2018 00:00:53 +0000 Nine out of 10 consumers in mainland China are willing to share personal data in return for a better experience and personalised services, according to a survey conducted by global professional services company KPMG. The number was much higher than the global average of 76 per cent. The company surveyed 25,000 consumers online and conducted interviews in the United Kingdom, the United States, Brazil, the United Arab Emirates, France, Canada, China and India. Only 6 per cent of respondents in the... https://www.scmp.com/business/companies/article/2171907/nine-10-chinese-consumers-are-ready-share-data-better-services?utm_source=rss_feed https://www.scmp.com/business/companies/article/2171907/nine-10-chinese-consumers-are-ready-share-data-better-services?utm_source=rss_feed Tue, 06 Nov 2018 06:22:45 +0000 Joanna Lam Joanna Lam After a three-year downturn between 2013 and 2015, China’s luxury market is booming once again as consumers, led by Generation Z and millennials, indulge in shopping to keep up with the latest seasonal trends. A survey conducted by global consulting firm OC&C Strategy Consultants showed that over half of Chinese Gen Z (born after 1995) shoppers spent more than 50,000 yuan (US$7,250) last year, compared to only 32 per cent for millennials (born between 1980 and 1995) and 34 per cent for Gen X... https://www.scmp.com/business/china-business/article/2171589/gen-z-and-millennials-hold-key-growing-luxury-goods-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/2171589/gen-z-and-millennials-hold-key-growing-luxury-goods-market?utm_source=rss_feed Sun, 04 Nov 2018 07:35:40 +0000 For China’s well-heeled travellers, a satisfying holiday is no longer synonymous with hanging out at luxury resorts and going on a shopping spree in department stores. Instead, they now yearn for overseas excursions that blend customised service, authentic experience and exotic destinations, according to a new survey of 236 wealthy holidaymakers in China. Nearly 30 per cent rated Africa as the most popular overseas destination over the past year, making it their third most popular destination... https://www.scmp.com/business/article/2171200/chinas-high-rollers-choosing-luxury-flats-rather-top-end-hotels-holiday?utm_source=rss_feed https://www.scmp.com/business/article/2171200/chinas-high-rollers-choosing-luxury-flats-rather-top-end-hotels-holiday?utm_source=rss_feed Thu, 01 Nov 2018 06:26:17 +0000 Looking good used to be the exclusive privilege of women. But in China, a boom in the country’s nearly US$2 billion male grooming market shows that striving for the perfect image is no longer refined to the fairer sex. According to a white paper last month on the male-beauty sector from Tmall Innovation Center (TMIC) and L’Oréal China Consumer Intelligence, total sales of male-beauty products in China spiked 59 per cent and 54 per cent in 2017 and 2018, representing a golden opportunity for... https://www.scmp.com/business/companies/article/2169100/groom-it-beckham-chinese-men-splash-cash-keep-appearances?utm_source=rss_feed https://www.scmp.com/business/companies/article/2169100/groom-it-beckham-chinese-men-splash-cash-keep-appearances?utm_source=rss_feed Thu, 18 Oct 2018 05:07:21 +0000 Foot Locker wants a rematch in Hong Kong. After pulling out two decades ago, the American retailer – known for its sales staff in black-and-white referee shirts – is back in the game amid a boom in the city’s US$2 billion sports shoe and athletic clothing market. It coincides with launches in Singapore and Malaysia, at a time of slowdowns in Europe and the US. “Consumers want experiences. They want cool product with connected stories and they want it all fast,” said Lewis P. Kimble, executive... https://www.scmp.com/business/companies/article/2167127/foot-locker-launches-comeback-hong-kong-kicking-free-haircuts-and?utm_source=rss_feed https://www.scmp.com/business/companies/article/2167127/foot-locker-launches-comeback-hong-kong-kicking-free-haircuts-and?utm_source=rss_feed Mon, 15 Oct 2018 01:32:37 +0000 Fast Retailing, owner of the Japanese casual wear brand Uniqlo, said Thursday its full-year profit hit a record, and forecast even stronger results in the current operating year owing to steady growth in Asia and a recovery at its stores in the US. The company’s operating profit jumped 34 per cent to a record 236.2 billion yen (US$2.11 billion) for the financial year through August, in line with analysts’ median forecast for 237.5 billion yen, according to Refinitiv data. The company reported... https://www.scmp.com/business/companies/article/2168194/fast-retailing-reports-record-full-year-profit-forecasts-steady?utm_source=rss_feed https://www.scmp.com/business/companies/article/2168194/fast-retailing-reports-record-full-year-profit-forecasts-steady?utm_source=rss_feed Thu, 11 Oct 2018 22:32:26 +0000 Joanna Lam Joanna Lam The battle for wealthy Chinese is moving online, with luxury brands especially hungry to win over millennials through offers on everything from limited edition fashions to white-glove delivery services. Moncler, Christian Dior, Hermes and Tiffany & Co. are among those in the online stampede to grab a share of China’s US$73 billion annual luxury market. It is composed of 50 million people and growing – the largest number of wealthy people of any country in the world. And they tend to be younger –... https://www.scmp.com/business/money/wealth/article/2164738/luxury-e-commerce-china-has-loads-room-grow-thanks-countrys?utm_source=rss_feed https://www.scmp.com/business/money/wealth/article/2164738/luxury-e-commerce-china-has-loads-room-grow-thanks-countrys?utm_source=rss_feed Wed, 19 Sep 2018 00:30:00 +0000 A new initiative by one of Hong Kong’s leading jewellery retailers will see diamonds sold in its T Mark-branded stores “graded” for customers, by the respected Gemological Institute of America (GIA), a non-profit industry research body. The move follows quickly on the heels of a similar practice by De Beers, the world’s biggest diamond seller. Developed with leading blockchain solutions provider Everledger and secured by the IBM Blockchain Platform, the new service will show exactly where the... https://www.scmp.com/business/companies/article/2163959/blockchain-changing-worlds-jewellery-landscape-and-chow-tai-fook?utm_source=rss_feed https://www.scmp.com/business/companies/article/2163959/blockchain-changing-worlds-jewellery-landscape-and-chow-tai-fook?utm_source=rss_feed Wed, 12 Sep 2018 22:30:36 +0000 Chinese women are increasingly saying goodbye to push-up bras – and reshaping one of the world’s most important lingerie markets. Feeling good is in. And feeling sexy is no longer equated with cleavage. The change in mindset, catching up to a trend already seen in fashion-setting western markets, is creating opportunities in China, with a rush of domestic start-ups targeting women who prefer bras that are softer, wireless, seamless and comfortable. Global brands are also taking note. “Younger... https://www.scmp.com/business/companies/article/2162887/chinese-women-redefine-sexy-and-create-booming-market-home-feel?utm_source=rss_feed https://www.scmp.com/business/companies/article/2162887/chinese-women-redefine-sexy-and-create-booming-market-home-feel?utm_source=rss_feed Thu, 06 Sep 2018 00:00:15 +0000 Shares in Hong Kong cable television provider i-Cable surged by 102.25 per cent on Monday, following news of a deal with China Mobile Hong Kong that will let CMHK users watch programmes produced by i-Cable via the company’s mobile network. “I-Cable owns a large telecommunications and cable television network in Hong Kong with a coverage of over 95 per cent, providing customers with quality and reliable television, telecommunications, internet and multimedia services,” said Tan Sri Dato’ David... https://www.scmp.com/business/companies/article/2162562/i-cables-content-deal-china-mobile-hong-kong-pushes-cable-tv?utm_source=rss_feed https://www.scmp.com/business/companies/article/2162562/i-cables-content-deal-china-mobile-hong-kong-pushes-cable-tv?utm_source=rss_feed Mon, 03 Sep 2018 10:59:47 +0000 Zhang Xinyuan, a Shanghai white-collar worker, is happy that a new Starbucks outlet has opened near her flat in the city’s Pudong district. “A cup of Starbucks espresso drink in the morning is an essential part of my daily life and the new outlet, within only five minutes’ walk from home, will save me a lot of time,” said the 35-year-old. “Starbucks has reasons to smile in this market since it has so many loyal customers like me.” Zhang and many young middle-class Chinese like her are fuelling a... https://www.scmp.com/business/companies/article/2160564/starbucks-costa-take-challenge-growing-coffee-business-china?utm_source=rss_feed https://www.scmp.com/business/companies/article/2160564/starbucks-costa-take-challenge-growing-coffee-business-china?utm_source=rss_feed Tue, 21 Aug 2018 00:00:15 +0000 Candy Lau knew she would have to pay high rent for her new walk-up studio in Hong Kong. But she was not expecting roommates – a bunch of cockroaches. “I came to realise that the housing market is expensive and I cannot be that demanding,” said Lau, a 28-year-old account executive. “I had to be flexible with my criteria and budget.” Lau felt she needed to lower her expectations after a two-month flat hunt in Hong Kong, where nearly 44 per cent of rentals now cost more than HK$20,000 (US$2,550) a... https://www.scmp.com/business/article/2160554/nearly-half-hk-flats-rent-us2550-month-70-cent-median-household-income?utm_source=rss_feed https://www.scmp.com/business/article/2160554/nearly-half-hk-flats-rent-us2550-month-70-cent-median-household-income?utm_source=rss_feed Mon, 20 Aug 2018 12:15:00 +0000 WeWork’s third location in Hong Kong taps into themes of community and social interaction through unique design features at a massive 54,000 square foot location in Taikoo Shing, providing work space that can help foster creativity and networking opportunities, according to a company spokesman. The new centre occupies four floors in Cityplaza Three, an upscale retail and commercial complex owned by Swire Properties. The monthly rent for a hot desk starts at HK$3,800 (US$484), while the monthly... https://www.scmp.com/property/article/2158537/wework-opens-third-hong-kong-location-taikoo-shing?utm_source=rss_feed https://www.scmp.com/property/article/2158537/wework-opens-third-hong-kong-location-taikoo-shing?utm_source=rss_feed Tue, 07 Aug 2018 01:16:02 +0000 Singapore’s office market is in the early stages of a recovery as tapering office supply and strong pre-commitment levels have caused the office vacancy rate to decline, offering landlords higher bargaining power to increase rents. “Office rent is expected to increase by 20 to 25 per cent between 2018 and 2020, of which 12 to 16 per cent is expected in 2018,” said Regina Lim, head of capital markets research at JLL in Southeast Asia, adding that prime office rents have already risen by 6 per... https://www.scmp.com/business/article/2158520/tapering-singapore-office-supply-gives-landlords-room-increase-rents?utm_source=rss_feed https://www.scmp.com/business/article/2158520/tapering-singapore-office-supply-gives-landlords-room-increase-rents?utm_source=rss_feed Tue, 07 Aug 2018 00:00:47 +0000 Kr Space, the Beijing-based co-working space operator, plans to open a location in Times Square in Causeway Bay, doubling down with a second investment in Hong Kong only three months after announcing plans to open its first workspace in the city. The company said on Thursday it will partner with local property developer The Wharf, which owns the Times Square office and retail complex, to open a 50,000 square foot space before the end of the year. “High rental prices in Hong Kong’s office... https://www.scmp.com/business/article/2158055/co-working-space-operator-kr-space-doubles-down-hong-kong-second-location?utm_source=rss_feed https://www.scmp.com/business/article/2158055/co-working-space-operator-kr-space-doubles-down-hong-kong-second-location?utm_source=rss_feed Thu, 02 Aug 2018 14:45:15 +0000 China’s office and industrial property market will suffer from weaker leasing demand as a result of the escalating trade tensions between Washington and Beijing, as multinationals review their China strategy and manufacturers speed up factory relocations to countries such as Vietnam, according to market watchers. “From the real estate point of view, many decisions in the second half of the year and next year will be delayed in both investment and leasing markets as corporates are waiting out the... https://www.scmp.com/business/article/2157517/transpacific-trade-war-negative-not-death-blow-chinas-office-and-industrial?utm_source=rss_feed https://www.scmp.com/business/article/2157517/transpacific-trade-war-negative-not-death-blow-chinas-office-and-industrial?utm_source=rss_feed Wed, 01 Aug 2018 00:01:59 +0000 Gone are the days when a suitcase is just a dull four-wheeled trunk that travellers loathe to drag around. At a time when globetrotters want travel goods to be an extension of themselves, the luxury luggage market is evolving at breakneck speed. Spending a third of the year collecting stamps on his passport, Victor Sanz, creative director of Tumi, knows a thing or two about the art of travel. Growing up as an aspiring artist and sculptor, Sanz’s penchant for art and design eventually led him to... https://www.scmp.com/business/companies/article/2141125/top-luggage-designer-shares-tips-packing-and-dressing-travel?utm_source=rss_feed https://www.scmp.com/business/companies/article/2141125/top-luggage-designer-shares-tips-packing-and-dressing-travel?utm_source=rss_feed Tue, 10 Apr 2018 23:03:17 +0000 “Middle Eastern cuisine is abundant and generous. It’s a way of eating that has the power to connect people,” – chef Jad Youssef “The food itself is important, but it’s secondary to the actual idea of eating together,” – chef Asher Goldstein Few would dispute Hong Kong’s status as a culinary melting pot – a stroll through Soho is like travelling around the world with your taste buds. Nevertheless, the Middle Eastern dining scene has not taken off as much as the other metropolises worldwide such... https://www.scmp.com/business/companies/article/2140942/more-just-kebab-these-chefs-are-redefining-middle-eastern?utm_source=rss_feed https://www.scmp.com/business/companies/article/2140942/more-just-kebab-these-chefs-are-redefining-middle-eastern?utm_source=rss_feed Mon, 09 Apr 2018 23:00:45 +0000 If Leon Jakimic hadn’t become the founder and CEO of Lasvit, a bespoke glass company, he might just be one of the world’s top tennis players – at least that was his dream before he faced a stumbling block at the age of 17. His love for sports came from his father, who is a former member of the Czech national skiing team. “My father really wanted me to become a professional skier like him; therefore I’ve been engaged in different kinds of sports starting from the age of four,” recalls Jakimic... https://www.scmp.com/business/article/2137130/how-leon-jakimi-was-bounced-pro-tennis-career-become-founder-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/2137130/how-leon-jakimi-was-bounced-pro-tennis-career-become-founder-hong-kong?utm_source=rss_feed Wed, 14 Mar 2018 05:30:30 +0000