Fung Group

Retail Asia19/08/2019

Fung Group has sold its Guangzhou Circle K-store network to Chinese retailer Suning for an undisclosed sum. Facing intense competition in the mainland convenience-store market, the network of 61 outlets has failed to make a profit since the brand’s launch there in 2002. The Guangzhou Circle K business recorded a net loss of HK$21.4 million […]

Retail Asia08/11/2018

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Fung Retailing and Alibaba have formed a strategic partnership to launch more international lifestyle brands in Mainland China. The partnership will bring closer Alibaba’s 600-million user base and Fung Retailing’s 3000+ network of stores across Greater China, UK, France, South Korea, Singapore, Malaysia, Thailand and the Philippines. Its partly- or majority-owned businesses include Circle K […]

Retail Asia10/10/2018

French fashion label Ikks has launched in Mainland China after forming a partnership with Fung Kids. Four stores have been opened in Shanghai and Beijing focusing on the brand’s new childrenswear line, with more planned on both the mainland and in Hong Kong in advance of a wider Asian expansion. Ikks Group has 3600 outlets […]

Retail Asia17/09/2018

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Fung Retailing’s battle with the administrators of bankrupt Toys R Us has ramped up, with the latter company filing an injunction request in US courts this week. The Hong Kong company is working to protect its first-right-of-refusal clause on acquiring shares in the Toys R Us Asia business, beyond its existing 15 per cent cornerstone […]

Retail Asia09/08/2018

The Fung family has invested US$35 million in Indian technology platform ShopX. The funds came from Fung Strategic Holdings a member of Fung Investments, the private investment vehicle of the families of Dr Victor Fung and Dr William Fung. ShopX is described as India’s leading B2B e-commerce company, connecting India’s consumers and small merchants with […]

Retail Asia20/03/2018

Toys R Us Asia has repeated earlier assertions that its business will not be affected by the liquidation of Toys R Us stores in the US and UK, amid reports that Australian operations would likely need to close. Toys R Us Asia’s joint-venture partner Fung Retailing, which owns approximately 15 per cent of the toy […]

Retail Asia02/03/2018

Toys ‘R’ Us Asia may be taken over by to its local partner, the Fung Group. A deal could give Toys ‘R’ Us Asia a valuation of at least US$1 billion. The private holding company of Hong Kong’s billionaire Fung brothers is considering finding partners to join it in the purchase, and if a deal […]

Retail Asia05/04/2016

With revenue totalling HK$1.9 billion (US$245 million), Hong Kong-listed retailer Trinity Group lost HK$88.5 million last year. Trinity Group, which sells premium menswear brands in greater China and Europe, says it continued to be dragged down by the dampened consumer spending environment in China, but has implemented business reforms as well as restructuring aimed at […]

Retail Asia25/10/2015

Virtual-reality fitting rooms, magic mirrors and 3D printing are among innovations being trialled at a large-scale laboratory in Shanghai where businesses can experiment with omnichannel techniques and trends shaping the future of retail. The initiative is led by the Fung Group, the Hong Kong-based multinational with international brands and retail operations across China, and parent […]

Tag: Fung Group

Fung Group sells Circle K retail network

Fung Retailing, Alibaba to collaborate bringing lifestyle brands into China

Fung partners with French fashion label Ikks

Toys R Us battle heads to court

Hong Kong’s Fung Group injects US$35M into India’s B2B e-commerce ShopX

Toys R Us Asia assures it will not be affected by US’s liquidation

Toys ‘R’ Us is said in talks to sell Asia unit to Fung Group

Trinity Group confident despite loss

Fung Group launches omnichannel retail lab