A Chinese firm has taken a majority stake in a Bordeaux vineyard, the latest move by China into the world of French wine. A holding company called HongKong A and A International paid an undisclosed sum for the stake in Chateau Richelieu, at a property once owned by infamous French statesman Cardinal de Richelieu. Chateau […]
Category: Consumer
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Agnes b. plans China expansion
French fashion brand Agnes b. plans to open seven additional outlets in China to take advantage of growing consumer demand, Bloomberg reported. Agnes b. currently operates seven stores in Beijing and Shanghai. Peter Leong, the company’s regional commercial manager said that the new stores would be opened over the next three months, but did not […]
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Suning to buy stake in Laox
Suning Appliance announced that it will buy a 27.36% in Japanese retailer Laox, the Wall Street Journal reported. The Chinese consumer electronics company has agreed to pay US$8.4 million for the stake in its Japanese rival which will also make it the largest shareholder in the all-cash deal. The deal, once completed will see the […]
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Gome shares surge after Bain investment
Shares in scandal-hit electronics retailer Gome Electrical Appliances Holdings rose 69% on Tuesday after the firm announced an investment by private equity firm Bain Capital, Bloomberg reported. Shares in China’s second-largest electronics retailer closed yesterday at HK$1.89 (US$0.24) on its first day of trading after a seven-month suspension following the detention of its founder Huang […]
Sales of home appliances under a rural subsidy program for farmers jumped 42% in May compared to April. Yao Jian, spokesman of the Ministry of Commerce (MOC), said 2.23 million appliances were sold in May. The MOC said in March that the central government had allocated RMB 20 billion (about $2.9 billion) for the subsidy […]