Despite high-profile exits, retail remains hot
Category: Consumer
Sun Art Retail Group, a Chinese hypermarket operator, is targeting as much as US$1.1 billion in a Hong Kong initial public offering, despite a dip in global equity markets that is forcing numerous companies to delay or shelve their IPO plans, Reuters reported. Sun Art is a joint venture between Taiwanese conglomerate Ruentex Group and […]
China is proposing to reduce tariffs on some luxury goods, despite political resistance due to concerns over the country’s widening wealth gap, the Wall Street Journal reported. China’s tariffs on luxury products currently add on an extra 10-30% to the price of imported goods like handbags, wine, watches and cosmetics. The planned reductions would be […]
Diageo (DEO.NYSE, DGE.LSE), an alcoholic beverages company based in the UK, will pay as much as US$1.3 billion to acquire control of Shuijingfang, a famous Chinese baijiu brand, the Financial Times reported. The deal marks one of the first foreign acquisitions of an important Chinese brand, though Western governments have long pressured Beijing to be […]
I attended the “China Luxury Grand Ceremony” yesterday, an underamplified, underfed and overheated affair that was, despite being poorly organized, more stimulating than I expected from the PDF program. We’ve all read the standard China luxury consumer story, and I didn’t expect to hear much different this time. “Wow, Chinese people sure do like to […]