Starbucks (SBUX.NASDAQ) has signed an agreement with Chinese joint venture partner Maxim’s Caterers that will give the US company 100% ownership of Starbucks retail outlets in six Chinese regions, the Wall Street Journal reported. “Full ownership of our stores in Central, South and Western China is part of our broader strategy to build China as […]
Category: Consumer
From China Economic Review and Ipsos Marketing
China now has more than one million millionaires, as savings and a strengthening renminbi helped increase the number of millionaire households by 31% in 2010 from a year earlier, Bloomberg reported, citing a Boston Consulting Group survey. The number of millionaire households in China hit 1.11 million – ranking it third behind the 5.22 million […]
US suitcase maker Samsonite International hopes to raise about US$1.5 billion from an initial public offering in Hong Kong on June 16, the South China Morning Post reported. It is the latest in a line of foreign retailers planning to list in Hong Kong over the coming months, including Italian fashion firm Prada SpA. According […]
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Wal-Mart names new China chiefs
Wal-Mart Stores Inc. (WMT.NYSE) has announced two new executive appointments for its fast-growing China operations, following top-level resignations earlier this month, the Wall Street Journal reported. Mario-Jose Medina, the former chief financial officer of Wal-Mart Puerto Rico and Wal-Mart Chile, will head the company’s financial operations in China, while former senior vice president Del Sloneker […]