China Economic ReviewPeter Ter-Kulve, CEO of Wall's in China, reflects on his company's experience in developing its ice cream brands across the country. China with European systems and processes, yoti are heading for trouble because your mechanisms are simply not fast enough. This pace of change makes China very challenging. It can be handled, but you have […]
The Swedish furniture retailer Ikea is to spend US$60m on a new store in Beijing, said the company's China retail manager, Ian Duffy. The new store will be located in Chaoyang district and will open in 2005. Ikea already operates a small outlet in Beijing and a full-sized store in Shanghai. Duffy said that the […]
Chinese retailers are beginning to look to overseas markets to boost earnings, according to Shanghai Daily. Hualian (Group) Co plans to set up a shopping mall in Bucharest, Romania, in two years. The mall will contain a department store and a hypermarket and about 80 per cent of the goods sold will be Chinese-made. Lianhua […]
SM Prime Holdings, the leading retail centre developer in the Philippines, plans to develop a series of small shopping malls in China, Philippine Daily Inquirer said. Each one would cost around US$10m. The malls will be built around Beijing and Shanghai and, if they are successful, the company will expand further in China. Warner to […]
Tsingtao Brewery posted a Yn60m net profit in the first quarter of 2003, up 7.4 per cent year-on-year. Sales increased 11 per cent to 630,000 tonnes, but the firm said that sales had recently been affected in some locations because of the Sars outbreak and the market would get worse in the second quarter.