April Wu

China Market Strategy

March 17, 2015

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Retail News Roundup – Mar 17

The top 5 retail news clips in Asia this week.

1 – China’s luxury big spenders: young, trendy and not so rich

Global luxury brands expanding in China are better off targeting the HENRYs – “high earners, not rich yet” – instead of the ultra-wealthy, as a slowing economy and a government that frowns on official excesses usher in an era of less showy spending. >>

2 -Xiaomi to open ‘experience stores’ in India

CHINESE smartphone maker Xiaomi said yesterday that it will open 100 stores in India this year to help consumers in the world’s third-largest smartphone market “experience” the company’s devices, but will not sell them at these stores. >>

3 – Hugo Boss takes control in Asia

German luxury fashion retailer Hugo Boss is forging ahead with plans to take direct control of its Asian store network as it looks to the region to offset stagnant sales growth in Europe. >>

4 – China convenience store business booming

China’s overall retail market growth may be slowing – but the convenience store sector is a standout performer. >>

5 – Vingroup announces new retail venture in electronics

A Vingroup official announced the establishment of the firm’s new technology and electronics retail brand today called VinPro. >>