Category: General

Retail Asia14/07/2020
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2min0
Bonjour CEO Cheung Ka Fai has resigned after less than two months in the role, citing “personal career development”. He has been replaced by Wong Iu Ming. In a statement to the stock exchange, the struggling apparel chain confirmed there was “no disagreement with the board” or other matter relating to the resignation that should […]

Retail Asia14/07/2020
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2min0
Japanese homewares and lifestyle retailer Muji has placed its US business in Chapter 11 bankruptcy protection with debts of US$64 million. The company said the measure was the result of having to continue to pay rent in high-profile locations while stores were shuttered due to the Covid-19 pandemic. Landlords had shown little flexibility despite stores […]

Retail Asia14/07/2020
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1min0
Government authorities have raided a warehouse storing thousands of fake luxury goods in Lao Cai City, northern Vietnam, which were being sold online. The 10,000sqm warehouse was divided into several areas including rooms for selling fake luxury goods via live-streaming on Facebook. Most of the items are copies of major brands including Gucci, Chanel, Nike […]

Retail Asia13/07/2020
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2min0
Indian retail sales fell by 67 percent year on year in the last two weeks of June, according to a Retailers Association of India (RAI) survey reported. Mall retailers recorded an even sharper drop of 77 percent over the same fortnight, largely due to some remaining closed throughout the territory. High street retail, currently reopened […]

Retail Asia10/07/2020
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2min0
Retail giant Walmart has ended its membership program and is launching a new subscription service, Walmart+, later this month according to technology news website Recode. The service will cost US$98 a year and offer same-day delivery; petrol discounts and exclusive early access to the latest product deals. Walmart reportedly planned to launch the service in late […]

Retail Asia10/07/2020
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1min0
Retail sales in Indonesia have seen the sharpest drop in 12 years, according to a report, based on information from the nation’s central bank. Territory-wide sales fell 20.6 percent year on year during May, representing the largest contraction in the category since November 2008. The drop was steeper than figures for April, which showed a […]

Retail Asia10/07/2020
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1min0
Japanese convenience-store chain FamilyMart will be sold outright to local trading company Itochu, according to reports. The buyer, which currently holds 50 percent of FamilyMart business, made the decision to fully purchase the chain last Wednesday in a transaction that is expected to cost between US$4.6 billion and $5.5 billion. The business media say the […]

Retail Asia10/07/2020
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2min0
British fashion label Topshop will close its 14,000sqft flagship in Hong Kong when the lease comes up for renewal in October, the latest in a string of mid-level international retailers to exit the territory. And watch brand Swatch has shuttered its prime Central store, which now has a writ apparently seeking unpaid rent taped to […]

Retail Asia10/07/2020
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5min0
Brooks Brothers have filed for bankruptcy in the US, the latest US retail victim of the Covid-19 pandemic. However, analysts are confident the struggling apparel retailer will find a buyer, and the brand will endure along with a scaled-down store network. Brooks Brothers have in recent years invested substantially in stores in Hong Kong. Inside […]


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