April Wu

China Market Strategy

April 21, 2015

  • Share by Email
  • Tweet This
  • Share on Google+
  • Share on Facebook
  • Share on LinkedIn
  • Tweet This

Retail News Roundup – Apr 21

The top 5 retail news clips in Asia this week.

1 – IKEA in shopping mall push

IKEA, the world’s biggest furniture retailer, plans to spend up to €3 billion ($3.2 billion) on new shopping centres over the next 5-7 years, aiming to cash in on the popularity of its stores by collecting rent from retailers keen to set up nearby. >>

2 – McDonald’s Japan closing stores amid loss forecast

McDonald’s Corp.’s Japan business forecast wider losses this year, announcing store closures and job cuts after sales suffered from food scandals. >>

3 -New rich drive Vietnam luxury boom

The rapidly rising ranks of Vietnam’s uber-rich are fueling growing demand for luxury goods in the fast-growing economy. >>

4 – China food retailers ‘victims’ of online

China’s largest food retailers have suffered “a torrid 18 months” and will need to transform their offer to recover from declining growth, according to a new report from OC&C Strategy Consultants Greater China. >>

5 – New Hong Kong tourism restrictions to boost Japan, Korea

Long considered the go-to destination for mainland Chinese gray-market vendors (stocking up on everything from luxury handbags to diapers), Hong Kong is set to crack down on unlimited visits by residents of nearby Shenzhen. >>