April Wu

China Market Strategy

June 2, 2016

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Retail News Roundup – Jun 2

The top 5 retail news clips in Asia this week.

1 -Apollo Tyres opens office in Malaysia; expands footprint in ASEAN region

Apollo Tyres has set up an office in Malaysia, the third largest automotive market in the ASEAN region, as the company eyes expanding its presence in the country. >>

2 – Luxury growth needs entry-level products

Luxury brands need to consider creating a range of “entry-level” products to attract some 50m new consumers in younger age groups and emerging markets over the next four years.>>

3 -Luxury brands Gucci, Zegna shutting shop as Chinese buyers turn thrifty

t’s already happened to middle-of-the-road stores across high streets and main streets. Now the world’s biggest luxury stores are starting to shutter outlets. The culprit is the Chinese consumer, who is starting to rein in spending at home and abroad. The effect will be no less severe: expect more closures to come. >>

4 – Lotte tests ‘Virtual Fitting Service’

Lotte Department Store is to implement a ‘Virtual Fitting Service’ for customers to try on clothes, without actually putting them on. >>

5 – Krispy Kreme Cambodia opens first outlet

Krispy Kreme Cambodia has opened its first shop, in Phnom Penh. >>