Hong Kong’s two main toy industry groups have said that sales of Chinese-made toys will be flat next year due to the recession in the US and Europe, the South China Morning Post reported. The Toys Manufacturers’ Association and the Hong Kong Toys Council said they expected to meet their target of 3% growth for […]
Category: Consumer
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Gome in strategic stake talks
Leading executives from home electronics retailer Gome Electrical Appliances Holdings have held talks with overseas rivals and private equity funds to discuss the possible sale of a strategic stake, the Financial Times reported. “There have been talks but these are early days and all sides are feeling their way around. There are far too many […]
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Suning plans to expand retail footprint
Suning Appliance, a major Chinese white goods and appliance retailer, announced plans yesterday that it will open 200 new stores and five new logistics centers in China next year, state media reported. The aggressive move in the current economic climate is perceived as an effort to attack Suning rival Gome, whose founder Huang Guangyu is […]
Will Wal-Mart persuade its Chinese suppliers to meet higher standards?
Shares of China’s largest electronics chain, Gome, were suspended in Hong Kong on Monday as the company sought to verify reports that its chairman, Huang Guangyu, had been detained in an official investigation of share price manipulation, Reuters reported. Caijing reported over the weekend that Huang, who was ranked as China’s richest man in 2008 […]