April Wu

China Market Strategy

September 8, 2015

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Retail News Roundup – Sep 8

The top 5 retail news clips in Asia this week.

1 – Alfamart to open 160 Philippine outlets by year-end

The operator of Indonesia’s Alfamart chain of minimarts plans to open 160 stores in the Philippines by the end of this year as part of a regional expansion program. >>

2 – Gucci, Louis, Prada: Survey says China’s wealthy women still love mega-brand handbags

Released by RBG Capital Markets last week, a new study surveyed the shopping habits of 303 affluent Chinese women between the ages of 25 and 65 intending to buy a $750 handbag within the next 12 months, selecting data from a group of 1,014 respondents polled. >>

3 – Seoul: Asia’s new fashion window?

Fast-growing Asia is a key market driving the global luxury industry, with purchases by Chinese consumers accounting for one third of global sales, according to market researcher Bain & Company. >>

4 – Didi Kuaidi raises $3B as rival Uber China brings in $1.2B

Chinese ride-hailing service Didi Kuaidi is set to raise about $3 billion through its latest fundraising round, said two people familiar with the matter, just as funding at the Chinese unit of rival Uber reaches $1.2 billion. >>

5 – Tiffany China sales soar

Tiffany China will open an unspecified number of new stores in the year ahead and has previously said it is looking at tier 2 cities in addition to building its presence in traditional luxury market hubs of Shanghai and Beijing. >>