April Wu

China Market Strategy

June 6, 2017

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Retail News Roundup – Jun 6

The top 5 retail news clips in Asia this week.

Newspaper

1 – Malaysia’s online sales set to quintuple by 2025, fashion leads

Online sales in Malaysia, which is currently just above 1 per cent of total retail market, is likely to quintuple by 2025, says a report. >>

2 – Luxury fashion brands start to sell on China’s WeChat messaging app

France’s Longchamp and the U.K.’s Burberry Group PLC have begun selling handbags and clothes on WeChat, China’s most popular messaging app. LVMH Moët Hennessy Louis Vuitton SE’s Givenchy and Dior brands are testing demand for their goods through flash sales on the platform. >>

3 – Michael Kors to shut over 100 stores

Michael Kors, the once-popular retailer that has been trying to turn itself around, said it expected same-store sales to continue to fall in 2018, and that it would shut more than 100 full-price retail stores in the next two years. >>

4 – China 20 report: Shanghai, Beijing still retail beacons

While their economic lead has narrowed, Shanghai and Beijing are still way ahead of other cities in terms of retailer penetration, says the latest Savills retail cities report, China 20. >>

5 – Japan’s 7-Eleven set to clock in for Vietnam debut in June

The convenience store chain reportedly plans to open 100 stores in Vietnam in the next three years. >>