Despite recently being deemed the most valuable brand on the planet, could Apple’s Chinese dream be souring? It’s doubtful, but having had to deal with the fallout from a bloody confrontation at a Beijing Apple store earlier this month, the last thing it needed was a rather more explosive PR problem. A blast at the […]
Category: Consumer
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Three Li Ning executives quit
The chief operating officer, chief marketing officer and head of e-commerce at Li Ning (2331.HK) all announced their resignations from the company, the Wall Street Journal reported, citing a company statement to the Hong Kong stock exchange. While the firm said that the three had “resigned from their respective positions with the Group to pursue […]
Gucci and Bottega Veneta (both subsidiaries of PPR SA; PP.Euronext), two Italian luxury goods firms, will open menswear-only stores in China, the Wall Street Journal reported. The move underscores the high proportion of luxury goods spending that male shoppers account for in the China market, a typical pattern in emerging markets. “The decision of buying for […]
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Two Walmart China executives resign
Two senior executives at China’s Walmart (WMT.NYSE) operations quit, delivering a blow to the company as it faces increasing competition in the market, the Financial Times reported. The company reported that its chief financial offer in China, Roland Lawrence, and its chief operating officer, Rob Cissell, both quit “due to personal reasons and to explore […]
An explosion on May 20 at a Foxconn (2038.HK, 2317.TW) production plant in Chengdu may cause Apple (AAPL.NYSE, AAPL.NASDAQ) a production loss of 500,000 iPad 2 tablet computers, Bloomberg reported, citing a new report by IHS ISuppli. The extent of the manufacturing loss depends on how long the facility is closed. While the Taiwan-based firm […]