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Retail Asia20/11/2018

Social media conglomerate Tencent Holdings is believed to be close to joining a Chinese investment group bidding to acquire Finnish sports goods firm Amer. The consortium, spearheaded by Anta Sports Products, would see Tencent participating as one of a few minority investors under the proposal. Its involvement would serve to boost considerably Amer’s brands in […]

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Retail Asia19/11/2018

Gaming and chat specialist Tencent has reported a strong third-quarter profit despite ongoing issues with Mainland China regulatory authorities over its gaming software. Tencent’s share price has fallen by about one third this year, shedding US$165 billion off its value, although last year its share price doubled. In September the company announced a restructuring program […]

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Retail Asia16/11/2018

Chinese consumers are quickly adapting to buying groceries online for immediate delivery from local offline stores, according to a new joint study conducted by JD, Walmart, Tencent and JD Daojia. In China, where over 15% of consumption takes place online, compared to just 9% in the US, consumers have been faster to embrace online grocery shopping. Over […]

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Retail Asia29/10/2018

Tencent has teamed up with ParknShop and Yonghui Superstores to create a new combined grocery chain ParknShop Yonghui. The joint venture, valued at US$170 million, aims to help Shanghai-listed Yonghui expand its business outside of the southern province of Guangdong, as well as consolidating Yonghui and ParknShop’s businesses in the province. Yonghui gains half of […]

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Retail Asia22/10/2018

Chinese e-commerce company JD is opening its logistics network up to consumers to send parcels around the country, marking the first entry by an e-commerce company into the parcel delivery business. The new JD parcel delivery service announced enables users of the company’s app in Beijing, Shanghai and Guangzhou to send items intra-city and throughout […]

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Retail Asia12/10/2018

Facing increased challenges from tighter government regulations, the Chinese internet giant, Tencent Holdings, announced last week its first restructuring in six years. The reshuffle comes as Tencent Holdings, which has seen a hefty fall in market value this year, is facing fresh criticism from analysts and investors unnerved by regulatory roadblocks, a fuzzy overseas strategy […]

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Retail Asia05/10/2018

Tencent and Hillhouse Capital have invested RMB1 billion (US$146 million) into fast-growing Chinese discount retailer Miniso. Founded just five years ago, Miniso has already grown to more than 3000 stores worldwide using what it describes as a “high quality, low price” philosophy. Three years ago, the China-headquartered retailer which pretends to be Japanese in its […]

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Retail Asia06/09/2018

China’s Meituan Dianping, an online food delivery-to-ticketing services platform, has set an indicative price range of HK$60 to HK$72 ($7.64-$9.17) per share for its initial public offering (IPO) in Hong Kong, valuing itself at up to $55 billion, four people with direct knowledge of the matter said. Meituan, already one of China’s most valuable internet […]

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Retail Asia17/08/2018

Tencent Holdings has recorded its first quarterly fall in profits in 13 years, hampered by government delays in approving new online games. Second-quarter profit fell 2 per cent to RMB 17.9 billion (US$2.6 billion) on sales totalling RMB 73.7 billion ($10.65 billion). The company’s mobile games business revenue fell 19 per cent quarter-on-quarter to RMB […]

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Retail Asia10/07/2018

The Melbourne-based startup announced today a US$80 million series B led by Tencent and Sequoia China and joined by Asia-Pacific investors Hillhouse Capital, Horizons Ventures, Central Capital Ventura, and Square Peg Capital. The deal is believed to be the second largest in the country, and is the largest raised by a startup in Australia this year. Airwallex […]

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Retail Asia05/07/2018

Chinese e-commerce startup Pinduoduo is seeking US$1 billion in a US IPO, going head to head with industry giants such as Alibaba. The company’s business model, in which users recruit friends via social media to enjoy group-discount offers direct from manufacturers, has seen its transaction volumes reach 141.2 billion yuan (US$21.3 billion) in 2017, tripling […]

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Retail Asia26/06/2018

Indonesian diversified conglomerate Lippo Group has invested Rp 628 billion ($45 million), or 350 million Hong Kong dollars, in Chinese internet giant Tencent, the world’s eighth most valuable listed company and owner of leading internet services including WeChat, Snapchat and Spotify, and technology companies such as Tesla. The investment highlights Lippo’s continued digital transformation and […]

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Retail Asia05/06/2018

The technology world’s most bruising battle for supremacy is taking place in China. And it could point to Big Tech’s future everywhere else, too. Tencent Holdings and the Alibaba Group are ratcheting up their no-holds-barred contest to dominate the ways 770 million internet users communicate, shop, get around, entertain themselves and even invest their savings […]

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Retail Asia05/06/2018

Dalian Wanda Group and Tencent Holdings Ltd will join forces to set up an internet technology firm, strengthening their position in retail. Dalian Wanda, which Is the largest property developer in China, will own 51% of the venture and Tencent 42.48%, with the remaining 6.52% going to Gaopeng, a joint venture between Groupon and Tencent. […]

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Retail Asia28/05/2018

Bui Mai Phuong is an avid online shopper, ordering anything from clothing to personal-care products from her smartphone. But she prefers to pay with cash. She is among hundreds of millions of people whom firms such as Softbank Group-backed Grab and China’s Tencent want to win over as they try to tap into Southeast Asia’s […]

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Retail Asia25/05/2018

Carrefour China has opened its first-ever ‘smart supermarket’ in Shanghai in partnership with Tencent, four months after the parent company of the WeChat app bought a stake in the French retailer. Covering 4000sqm over two levels in Changning district, the new Le Marche store is connected to the Beixinjing metro station. It offers more than […]

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Retail Asia24/05/2018

Indonesian ride-hailing and online payment firm Go-Jek on Thursday said it would enter Vietnam, Thailand, Singapore and the Philippines in the next few months, investing $500 million in its international push. The move will start with ride-hailing services before expanding to other sectors, Go-Jek said in a statement. “People in Vietnam, Thailand, Singapore and the […]

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Retail Asia21/05/2018

WeChat parent Tencent Holdings has achieved a 48 per cent increase in revenue during the first quarter of this year. Revenue from Smartphone games, payment-related services, digital-content subscriptions and sales, and social advertising were key contributors overall growth in the three months to March 31. Operating profit grew by 59 per cent and operating margin […]

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Retail Asia02/05/2018

Tencent Holdings Limited, a China based investment holding firm, and Tourism Malaysia are planning to jointly set up a data center in Cyberjaya, Malaysia. Sources claim that the strategic move is a part of the Smart Tourism 4.0 program launched recently in Malaysia. Under the new project, Tencent is expected to use the reproduction of […]

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Retail Asia21/03/2018

Asian markets sank on Tuesday following sharp losses in New York as a massive data breach at Facebook fuelled fears of a regulatory crackdown on the technology sector. The scandal at the social media giant come as investors fret over a possible increase in the rate of US interest rate hikes and Donald Trump steps […]

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