Topic
Lifestyle International Holdings Ltd operates mid to upper-end department stores in Hong Kong and China. It owns two SOGO stores in Hong Kong -- the flagship store in Causeway Bay, which is the city’s largest department store, and the Tsim Sha Tsui store. It opened its first shopping mall in December 2010 in Tianjin in China.
Thomas Lau, chairman of Lifestyle International, has offered to take the company private in a deal worth US$239 million. The stock surged by a record 45 per cent in Hong Kong on Monday.
Thomas Lau Luen-Hung, chairman of Lifestyle International Holdings, warned that the US-China trade war and social unrest would continue to weigh on the city’s economy and retail sector in the second half.
The Sogo Causeway Bay store recorded a 20.1 per cent growth in sales in the first six months of 2018 and a 42.8 per cent increase at the Tsim Sha Tsui branch
Department store operator Lifestyle International is taking a cautious approach to its expansion on the mainland in the face of increased competition from online retailers and destination shopping malls there.