Hong Kong - News & Analysis

12 February 2020
Sa Sa International has reported a 76.9% decline in Hong Kong and Macau sales during Lunar New Year. Sales, volume and footfall plummeting As a result of poor local sentiment, Sa Sa has closed 21 stores and will “substantially strengthen control measures” in order to reduce losses. Its executive directors have taken a 75% salary reduction for three months. Sa Sa’s retail sales in Hong ...
12 February 2020
Yahoo! Hong Kong is exiting its ecommerce operations, including Yahoo! Auctions, Yahoo! Store and Yahoo! Group Buy. Operations to close on 31 st May Yahoo! Hong Kong said the decision reflected a “strategic directional change ” citing “fierce competition”. The peer-to-peer marketplace Yahoo! Auction has been operating for more than 20 years in Hong Kong. Yahoo! Hong Kong will suspend bu...
13 January 2020
The Fenix Group may sell its majority stake in City Super Group. Potential ownership change According to Bloomberg, Fenix’s stake in City Super could be worth between US$300m and US$400m. It may decide, however, to retain some ownership of the business. More about City Super Group City Super Group was established in 1996. It operates in Hong Kong, Shanghai and Taiwan. The business is ...
02 January 2020
Hong Kong food and snacks retailer, Best Mart 360, has opened its first store in Macau. Launched on 17 th December 2019 Best Mart 360 was established in 2013. Chairman and co-founder Lin Tsz Fung said the expansion into Macau (17 th December 2019) was planned many years ago. In an interview with South China Morning Post, he said, “We hope to diversify our markets to Macau and Mainland Ch...
08 November 2019
Dairy Farm has posted an update on its trading performance for the third quarter, with growth in line with last year. Steady third quarter overall, but weak consumer sentiment in Hong Kong Dairy Farm said it performed "steadily" in the third quarter, with overall earnings in line with the comparable period the prior year. Performance across all channels, however, was impacted by difficult m...
24 October 2019
A.S. Watson has announced the appointment of Malina Ngai as the new CEO of A.S. Watson (Asia & Europe). She will hold the role in addition to her existing post as Group COO. Building on existing responsibilities Dominic Lai, A.S. Watson’s Group MD, said, “ Malina has been instrumental in formulating the group’s customer strategy, driving digital transformation, business analytics as well ...
24 October 2019
IKEA plans to open its first store in Macau in the first quarter of 2020. First store located in Taipa The new IKEA store will be located in Taipa, an island south of Macau Peninsular and joined to Coloane by the Cotai Strip. It will operate 8,361 sq m / 90,000 sq ft and offer a wider range of home-furnishing products. The store will also feature several showrooms, an IKEA cafe and a Swedis...
18 September 2019
Alipay has launched Alipay Macau, opening up access for local residents to a new ewallet. Easy charge access Previously, Alipay allowed Macau users to register in Alipay using their Macau phone numbers, but were not able to charge their Alipay accounts. The new version of Alipay Macau allows users to link their account to a local bank (e.g. Tai Fung Bank), or charge Alipay in Royal Supermar...
05 September 2019
Sephora opens its new digital-first flagship store at the IFC Mall, Hong Kong. Leading with experience Sephora opens its new digital-first flagship store at the IFC Mall, Hong Kong. The new 4,200 sq.ft store offers a number of digital touch points, such as the Sephora Virtual Artist makeover app, enabling shoppers to experiment with new looks. These act as points of engagement with the s...
23 August 2019
AEON Stores Hong Kong, which operates stores in Hong Kong and on mainland China has posted a 2% fall in sales revenue to HKD4.8bn (US$614.6m) for the six months ended June 30, 2019. Investing in new stores and renovations The capital expenditure for the period was HKD81.6m (US$10.4m), mainly used to open new stores and shop renovations, as well as upgrade IT systems. Gross profit decreased ...