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Tag: Hong Kong

  • Gap Eyes China Expansion: Plans 50 New Stores, Hong Kong Comeback and Australia Re-Entry

    Gap Eyes China Expansion: Plans 50 New Stores, Hong Kong Comeback and Australia Re-Entry

    Gap, the prominent American clothing retailer, is said to be significantly expanding its footprint in Greater China. The company’s plans include opening 50 fresh storefronts throughout mainland China during the current year, as well as reestablishing its presence in Hong Kong.

    This expansion initiative follows in the wake of Gap’s first-ever quarterly break-even performance in China. This success has been credited to Baozun, the local operator who assumed control of the business in 2022. Under Baozun’s leadership, the company completed a comprehensive overhaul of its supply chains, merchandising, and digital channels.

    The forthcoming new stores are not confined to the established business hubs of Shanghai and Beijing. Indeed, locations span from tier-one cities to tier-three cities, broadening the brand’s geographical reach.

    Baozun has set a target of approximately 30% annual growth over the coming two years. The strategy for achieving this ambitious goal blends physical retail development with a fortified online presence.

    Vincent Qiu, the chairman and CEO of Baozun, has publically expressed the brand’s readiness to “accelerate the business and scale it to a bigger size” within the next three-year period.

    In addition to its expansion in Greater China, Gap is also gearing up to make a return to the Australian market. The company will do so through a collaborative partnership with Myer. Despite forming part of its wider international strategy, this Australian venture remains secondary to Gap’s primary focus on Greater China.

    Questions & Answers

    What plans does Gap have for expansion in Greater China?
    Gap plans to open 50 new stores across mainland China this year and re-enter the Hong Kong market.

    What is Baozun’s growth target for the next two years?
    Baozun aims to achieve around 30% annual growth over the next two years by combining physical retail expansion with a stronger online presence.

    Is Gap planning to re-enter any other markets?
    Yes, Gap is preparing to re-enter the Australian market through a partnership with Myer as part of its broader international strategy. However, this remains secondary to the company’s focus on Greater China.

  • Hong Kong Office Market Revival: Downtown Vacancy Rates Hit 2-Year Low

    Hong Kong Office Market Revival: Downtown Vacancy Rates Hit 2-Year Low

    The prime office space vacancy rates in Hong Kong’s central business district have once again dipped into single figures for the first time in over two years, marking a resurgence in demand within the previously struggling office market.

    A Turnaround in Demand

    The primary business district, situated on the northern coast of the island, saw the vacancy rate for Grade A offices drop to 9.9% in February, a slight decrease from January’s 10.1%. The district last recorded a single-digit vacancy rate in December 2023, standing at the same figure of 9.9%.

    This trend isn’t limited to the central business district. Across Hong Kong, the overall prime office vacancy rate also fell slightly, dropping to 13.4% in February from the 13.5% recorded in the previous month.

    Rising Rents

    In line with the declining vacancy rates, rental costs for Grade A offices in the central district also experienced a rise. The first two months of the year saw rent prices increase by 3.5%.

    Banking remains the main driver for leasing activity, with the demand focusing on newer office buildings within the central business districts. Two districts have begun to show early signs of improvement, a trend that is expected to continue throughout the year. However, non-core districts, such as Kowloon East, are anticipated to remain under strain.

    Increased Optimism

    CK Asset Holdings, a property development company owned by billionaire Li Ka-shing’s family, has also expressed positive expectations for leasing demand this year. The company saw leasing remain under pressure during the previous year, but recent renewals have started to show small increases in rental costs.

    Both rent and sales are projected to see a surge. The overall non-residential property market is expected to continue adjusting and seeking support levels. However, rental and sales prices for offices located in the core districts may stabilize first.

    Uneven Recovery

    According to a report, the recovery within the office market varies across Hong Kong. The premium Grade A buildings in the central district, such as Two IFC, Chater House, and The Henderson, have maintained occupancy rates above 88%. In contrast, older properties within the same district have recorded occupancy rates below 75%. This uneven recovery rate highlights the growing preference for modern, high-specification buildings, reinforcing the “flight-to-quality” trend within Hong Kong’s office sector.

    Questions & Answers

    What is the current vacancy rate for prime office space in Hong Kong’s central business district?
    The vacancy rate for prime office space in Hong Kong’s central business district is currently 9.9%.

    What trends are emerging in Hong Kong’s office sector?
    There is a growing preference for modern, high-specification buildings, and non-core districts like Kowloon East are likely to continue facing pressure.

    What is the forecast for rental and sales prices in the near future?
    Rental and sales prices for overall non-residential properties are expected to continue adjusting, with prices for offices in the core district possibly stabilizing first.

  • ThongSmith: Thailand’s Premium Boat Noodle Brand Sets Sail in Hong Kong’s Dining Scene

    ThongSmith: Thailand’s Premium Boat Noodle Brand Sets Sail in Hong Kong’s Dining Scene

    Bangkok-based noodle brand, ThongSmith, has taken a step onto the international stage by launching its first overseas venture in Wan Chai, Hong Kong. With a reputation in Thailand for its upscale approach to traditional boat noodles, ThongSmith is bringing a touch of Thai street cuisine with a lavish twist to Hong Kong.

    Reimagining Street Food

    ThongSmith has carved a niche for itself in Thailand by enhancing traditional boat noodles. This reinvention involves slow-simmering broths and the inclusion of high-grade proteins such as Wagyu beef and Kurobuta pork, setting ThongSmith apart from the usual inexpensive vendors.

    Menu Adaptation

    The menu in Hong Kong follows the same pattern as in Bangkok, providing noodle dishes in addition to rice meals, grilled meats, and desserts. However, these offerings are subtly modified to cater to local tastes.

    ThongSmith’s latest venture represents its inaugural foray beyond Thailand’s boundaries. This move indicates the burgeoning interest of Southeast Asian F&B entrepreneurs in penetrating the fiercely competitive casual dining scene in Hong Kong.

    Brand Growth

    ThongSmith, which was established in 2018, now runs over 20 outlets across Bangkok.

    Questions & Answers

    What is ThongSmith known for in Thailand?
    In Thailand, ThongSmith is renowned for its upscale twist on traditional boat noodles, featuring slow-simmered broths and premium proteins like Wagyu beef and Kurobuta pork.

    How does ThongSmith cater to Hong Kong’s local tastes?
    ThongSmith modifies its Bangkok menu to suit local preferences in Hong Kong, while maintaining its signature noodle dishes, rice meals, grilled meats, and desserts.

    What does ThongSmith’s expansion into Hong Kong signify?
    ThongSmith’s expansion into Hong Kong reflects the growing interest of Southeast Asian F&B operators in entering Hong Kong’s competitive casual dining market.

  • Hong Kong’s Bonjour Holdings Navigates Stormy Retail Waters: Half-Year Losses Amid Shift in Consumer Behavior

    Hong Kong’s Bonjour Holdings Navigates Stormy Retail Waters: Half-Year Losses Amid Shift in Consumer Behavior

    Hong Kong-based financial behemoth, Bonjour Holdings, has reported a slump in its earnings attributed to what the corporation describes as a “complicated” retail atmosphere.

    Financial Figures

    Bonjour Holdings reported a loss of HK$68.8 million (US$8.8 million) for the half-year ending December 31, 2025. This figure represents a better performance than the same period in 2024 when the company reported a loss of $134.4 million ($17.2 million).

    Bonjour Holdings’ expansive portfolio includes over 20,000 products from brands such as Suisse Reborn, Yumei, Dr. Schafter, and Dr. Bauer.

    The firm’s retail, wholesale, lifestyle, healthcare, and beauty sector recorded a half-year turnover of HK$6.7 million, while technology sales contributed an additional HK$5.5 million. The gross profit for both sectors stood at HK$2.8 million. However, both year-on-year revenue and gross profit witnessed a steep decline of 50.4 per cent and 84.6 per cent, respectively.

    Complex Retail Environment

    In its earnings report statement, Bonjour Holdings stated that the latter half of 2025 presented a complex retail landscape in Hong Kong. Despite the overall inflation rate remaining relatively low at around 1.2 per cent during this period, consumer spending habits reflected cautiousness due to ongoing economic uncertainties.

    The company also highlighted that fluctuations in the property market significantly affected its customers’ disposable income.

    Tourism and Consumer Behavior

    Bonjour Holdings noted that tourism was on a slow path to recovery, with an increase in visitor arrivals. However, the spending habits of these visitors shifted towards experiential consumption, moving away from the traditional luxury retail. Mainland Chinese tourists, albeit returning in larger volumes, showed more selective purchasing habits compared to their pre-pandemic patterns.

    Questions & Answers

    What was Bonjour Holdings’ reported loss for the six months ending December 31, 2025?
    The company reported a loss of HK$68.8 million (US$8.8 million).

    What is the overall impact on Bonjour Holdings due to the current retail environment?
    The complicated retail environment, coupled with economic uncertainties and shifts in the property market, have led to a significant decrease in the company’s earnings.

    How has the spending behavior of tourists, specifically mainland Chinese, changed post-pandemic?
    While the number of mainland Chinese tourists has increased, their purchasing behavior has become more selective compared to pre-pandemic patterns, with a notable shift towards experiential consumption rather than traditional luxury retail.

  • Experience the Grandeur of Tory Burch’s Largest Hong Kong Store at K11 Musea: Bigger, Better, and Brimming with Style

    Experience the Grandeur of Tory Burch’s Largest Hong Kong Store at K11 Musea: Bigger, Better, and Brimming with Style

    Tory Burch, the renowned fashion brand, has recently reopened its newly revamped boutique located at K11 Musea. The redesigned space, covering an area of 3800 square feet, now stands as the largest Tory Burch outlet in Hong Kong.

    Reflecting the Brand’s Identity

    Thibault Villet, International Director for Asia-Pacific, Japan, and EUME regions, shared that the design of the store embodies the brand’s unique blend of timeless elegance, warmth, and modern spirit. The boutique’s aesthetic is a physical manifestation of the brand’s identity, showcasing its commitment to quality and style.

    A Comprehensive Tory Burch Experience

    Customers visiting the boutique can look forward to a comprehensive shopping experience as the store offers Tory Burch’s ready-to-wear collection, handbags, footwear, and a broadened range of jewellery. This diversity in the product line ensures that shoppers have access to a complete Tory Burch ensemble.

    Jewellery: The Key Growth Category

    Villet highlighted that jewellery is a pivotal growth category for the brand. “The introduction of more jewellery options enhances styling possibilities, encourages repeat visits, and draws in new customers,” he said. He added that in a market where attention to refinement and detail is crucial, their expanded jewellery collection will be particularly appealing.

    Questions & Answers

    What changes have been made to the Tory Burch boutique at K11 Musea?
    The boutique has undergone a redesign and now spans a space of 3800 sqft, making it the largest Tory Burch store in Hong Kong. The design of the store reflects the brand’s timeless elegance, warmth, and modern spirit.

    What products does the revamped Tory Burch boutique offer?
    The store carries Tory Burch’s ready-to-wear collection, handbags, footwear, and an expanded range of jewellery.

    Why is jewellery considered a key growth category for Tory Burch?
    According to Thibault Villet, the brand’s International Director for Asia-Pacific, Japan, and EUME regions, expanded jewellery options enhance styling possibilities, encourage repeat visits, and attract new customers.

  • Retail Giant AS Watson Eyes Major Move into Australian Market with Potential $500M Pharmacy Acquisition

    Retail Giant AS Watson Eyes Major Move into Australian Market with Potential $500M Pharmacy Acquisition

    AS Watson, a Hong Kong-based health and beauty retailer, is potentially planning a move into the Australian market. The company is believed to be considering an acquisition of over 90 pharmacies in Australia.

    Expansion into Australia

    The company’s interest is reportedly focused on 92 Priceline pharmacies, previously under the operation of Infinity Pharmacy Group. This move will represent AS Watson’s debut into the Australian market. The company is said to be planning a comprehensive review of these pharmacies, which indicates serious intent towards the acquisition.

    It is suggested that executives from AS Watson had visited Australia several years prior and had discussions with the founding partner of Infinity. These visits may well have laid the groundwork for the current acquisition proposal. However, a spokesperson for the group declined to provide any comment on these market speculations.

    The Players Involved

    AS Watson is a part of CK Hutchison Holdings – a major commercial conglomerate based in Hong Kong. On the other side of the equation, the Priceline brand is owned by Australian conglomerate, Wesfarmers, while Infinity Pharmacy Group functions as a franchisee of the chain.

    In a recent development, Wesfarmers placed approximately half of Infinity’s stores into receivership, following a period of enduring financial difficulties. These financial struggles have led to the sale of the 92 Priceline stores, managed by Infinity’s administrator, Teneo.

    The Sale Process

    Teneo, responsible for the administration of the sale process, is said to be seeking a minimum sale price of AU$500 million for these 92 Priceline stores.

    Questions & Answers

    What is the significance of this potential acquisition by AS Watson?
    The acquisition could mark AS Watson’s entry into the Australian market, expanding its global footprint.

    Who currently owns the Priceline brand and the affected pharmacies?
    The Priceline brand is owned by Wesfarmers, an Australian conglomerate. The affected pharmacies were previously operated by Infinity Pharmacy Group, a franchisee of the chain.

    What is the expected price for the sale of these 92 Priceline stores?
    The administrator overseeing the sale, Teneo, is reportedly seeking a minimum price of AU$500 million for the stores.

  • Coty Unveils AI-Enhanced Fragrance Concept Store in Hong Kong: A New Chapter in Perfume Retail Experience

    Coty Unveils AI-Enhanced Fragrance Concept Store in Hong Kong: A New Chapter in Perfume Retail Experience

    Coty, a leading global fragrance corporation, has inaugurated a unique retail concept store located in Mong Kok, Hong Kong. This revolutionary store, known as My Scent Edit, is situated within Langham Beauty. It is a multi-brand store, providing an immersive and interactive experience for its customers.

    Interactive Experiences and AI Incorporation

    My Scent Edit goes beyond the conventional shopping experience by incorporating various advanced technologies. It provides AI-powered digital consultations to assist customers in selecting the right products. The store also features trial zones where customers can sample various products before making a purchase. Adding to the interactive experience, the store includes an innovative AI photo booth.

    Coty has integrated AI technology into its operations following its collaboration announcement with an AI company. This partnership promised to enhance Coty’s business operations by expanding the utilization of the AI model, ChatGPT Enterprise. The company stated that its employees would have access to AI’s most robust models. This would aid their daily tasks and foster cross-functional collaboration.

    Coty underscores that human expertise remains at the core of its approach, but believes AI is a vital tool to stimulate efficiency. The company sees AI as a tool that complements and boosts the creativity and strategic thinking that uniquely defines its brands.

    Coty’s Hong Kong Presence

    In addition to the My Scent Edit store, Coty has also established another multi-brand concept, Citi Scent, located in Tsim Sha Tsui, Hong Kong.

    Moreover, Coty’s products are widely available through various distribution channels. These include department stores such as Lane Crawford and Sogo, and retailer partners like Sephora Hong Kong, Sasa, Mannings, and Watsons.

    Questions & Answers

    What is the new AI functionality in Coty’s My Scent Edit store?
    The store provides AI-powered digital consultations, trial zones, and an AI photo booth.

    What is Coty’s view on the role of AI in its operations?
    Coty maintains that human expertise is still fundamental, but believes that AI serves as an efficiency enhancer for creativity and strategic thinking.

    Where else is Coty’s presence notable in Hong Kong?
    Coty has a significant presence in Hong Kong with another multi-brand concept store, Citi Scent, in Tsim Sha Tsui, and broad product distribution through various department stores and retailer partners.

  • Hong Kong Luxury Real Estate Shuffle: Prince Jewellery Director Trades up with $6.4M Duplex Purchase

    Hong Kong Luxury Real Estate Shuffle: Prince Jewellery Director Trades up with $6.4M Duplex Purchase

    Tang Yick-ki, a director of Prince Jewellery and Sky Regal Properties, has recently engaged in significant real estate transactions in Hong Kong. He sold an apartment in Kowloon and obtained a two-story home in the vicinity for HKD50 million (US$6.4 million). These deals were completed in just over a month.

    Real Estate Transactions

    Tang sold his three-bedroom apartment, boasting 95 square meters of living space, located on the 71st floor of The Cullinan on Austin Road West in West Kowloon. The selling price was HKD46 million (US$5.9 million). Land Registry records confirmed the deal was finalized on January 5. Tang originally bought the apartment in 2016 for HKD32.5 million, meaning the property has increased in value by 41% in the intervening years.

    Roughly three weeks after this sale, Sky Regal Properties, where Tang serves as the sole director, purchased a duplex in The Waterfront, a residence within the same vicinity. According to the Land Registry, the transaction was completed last week for a cost of HKD50 million. Real estate agents specified that the duplex is 145 square meters and situated on the 45th floor.

    Prince Jewellery and the Hong Kong Property Market

    Prince Jewellery, with a 40-year history in Hong Kong, operates 16 retail stores and hosts over 60 globally recognized brands. The company’s recent real estate transactions come at a time when the Hong Kong property sector is gradually recovering from a prolonged slump. Despite persisting uncertainties, affluent homeowners like Tang are anticipated to continue seeking home upgrades.

    Some industry experts indicate that wealthier residents may choose to improve their current residences. However, this trend might not extend to those who invest in properties purely for financial gain. Additionally, home upgrades tend to become more popular during periods of market instability.

    Land Registry records also showed that another duplex in The Waterfront was sold for HKD50 million last week. The property was acquired by an entity known as Tung Tak, which had purchased it for HKD48.8 million in 2023.

    Questions & Answers

    What recent real estate transactions has Tang Yick-ki engaged in?
    Tang Yick-ki, a director of Prince Jewellery and Sky Regal Properties, has recently sold an apartment in Kowloon and bought a two-story residence nearby for HKD50 million.

    How is the Hong Kong property sector performing currently?
    The Hong Kong property sector is gradually emerging from a prolonged downturn. Despite ongoing uncertainties, affluent property owners are expected to pursue property upgrades.

    What is the trend concerning home upgrades in Hong Kong?
    Home upgrades tend to become more popular during periods of market instability. However, this trend might not apply to those who acquire property solely for investment purposes.

  • Miu Miu Unveils Stunning Redesign at Landmark Atrium Flagship Store, Ushering New Era of Luxury Retail in Hong Kong

    Miu Miu Unveils Stunning Redesign at Landmark Atrium Flagship Store, Ushering New Era of Luxury Retail in Hong Kong

    Miu Miu, the renowned luxury brand, recently christened its revamped flagship store located at the Landmark Atrium. This opening not only showcases a fresh store design concept but also aims to fortify the brand’s presence in the region.

    The New Store Design Concept

    The store now spans about 220 square meters, distributed over two levels. This revamped space mirrors the brand’s latest worldwide retail layout, encompassing dedicated zones for various product categories including ready-to-wear, handbags, footwear, and accessories.

    In addition, the store now houses a private salon for exclusive appointments. This feature underscores Miu Miu’s constant commitment towards providing personalized service and fostering a more intimate connection with its clientele.

    Landmark Portfolio Upgrades

    This reopening aligns with ongoing upgrade efforts from the landlord, Hongkong Land, across its Landmark portfolio. This is part of an overarching strategy aimed at bolstering the precinct’s standing in the high-end retail market of Hong Kong.

    Looking ahead to 2024, an assortment of premier luxury brands like Louis Vuitton and Prada have pledged their participation in a luxury redevelopment project worth US$1 billion, spearheaded by Hongkong Land. The project is slated for a phased roll-out over the forthcoming three years.

    Questions & Answers

    What is the size and layout of the newly redesigned Miu Miu store at the Landmark Atrium?
    The store covers approximately 220 square meters across two floors, with sections dedicated to different product categories like ready-to-wear, handbags, footwear, and accessories.

    What new feature has been added to the Miu Miu store to enhance customer service?
    A private salon has been introduced for personalized appointments, aiming to deepen engagement with clients.

    What is the future plan for the Landmark portfolio of Hongkong Land in terms of luxury retail?
    In 2024, a luxury redevelopment project worth US$1 billion is planned, with commitments from major luxury brands like Louis Vuitton and Prada. This project is expected to further reinforce the precinct’s status in Hong Kong’s high-end retail market.

  • Experience the Future of Retail: 7-Eleven Opens Innovative Concept Store in Hong Kong’s Kai Tak Sports Park

    Experience the Future of Retail: 7-Eleven Opens Innovative Concept Store in Hong Kong’s Kai Tak Sports Park

    7-Eleven Hong Kong has recently unveiled an innovative concept store within the boundaries of the burgeoning lifestyle and sports center, Kai Tak Sports Park. This modernized store model breaks the mold of traditional convenience store layouts and aims to offer a unique experience to its patrons.

    Creating a Unique Customer Experience

    The new 7-Eleven store, with a larger floor space, is designed to serve both the local residents and tourists visiting the Sports Park. It retains the essential convenience aspect that 7-Eleven is known for, while incorporating new features to encourage shoppers to spend more time exploring the store.

    The store is pushing the boundaries of its traditional merchandise range, now featuring stylish collectibles, toys, and the increasingly popular blind boxes, in addition to its standard ready-to-eat hot food and 7Cafe items.

    Themed Zones: A New Addition

    In an effort to diversify the shopping experience, the store layout incorporates a series of themed zones. One such zone is the Fun Zone, which caters specifically to K-pop enthusiasts with a selection of idol merchandise and collectible card machines. Another noteworthy addition is the Pet Zone, which offers a variety of pet accessories, snacks, and even a chilled gourmet pet cake line from Lifetastic Petisserie.

    Patrick Lui, Managing Director of 7-Eleven Hong Kong and Macau at DFI Retail Group, spoke enthusiastically about the new store format: “This new opening represents another progressive step for 7-Eleven Hong Kong in our ongoing quest to remain on trend, relevant, and closely engaged with our customers. We’re extremely grateful to our entire team for helping bring this concept to fruition. For those who haven’t yet visited, we invite you to come and experience it for yourself!”

    Aligning with Broader Business Strategy

    The launch of this concept store aligns with 7-Eleven Hong Kong’s broader business strategy to combine everyday convenience with an expanded product range and an experiential retail environment, in response to the changing consumer expectations.

    Looking beyond the borders of Hong Kong, 7-Eleven in the United States is also advancing at a rapid pace. The company has plans to open 1300 new stores by 2030, reinforcing foodservice as a key area for future development.

    Questions & Answers

    What is unique about the concept store that 7-Eleven Hong Kong has opened?
    The new store offers an enhanced shopping experience with expanded merchandise categories, introducing themed zones like the Fun Zone and Pet Zone for a more engaging customer experience.

    How does the concept store align with 7-Eleven’s broader strategy?
    The concept store is part of 7-Eleven Hong Kong’s broader strategy to meet evolving consumer expectations by blending usual convenience with a wider product mix and incorporating experiential retail elements.

    What are 7-Eleven’s growth plans in the United States?
    In the United States, 7-Eleven plans to open 1300 new stores by the year 2030, with a strong emphasis on expanding its foodservice offerings.

  • Hong Kong Retail Boom: December Sales Surge in 8th Consecutive Monthly Increase

    Hong Kong Retail Boom: December Sales Surge in 8th Consecutive Monthly Increase

    In December, retail sales in Hong Kong rose by 6.6% compared to the previous year, marking the eighth consecutive month of growth. This trend indicates a steady economic recovery in the region, according to recent government data.

    This increase amounted to a total of HK$35 billion (US$4.48 billion) in retail sales. In November, there was a similar rise in retail sales, with a 6.5% year-on-year increase.

    Retail Sales Volume

    In terms of volume, December’s retail sales saw a 5.1% increase from the previous year, showing a slight acceleration compared to the 4.4% rise witnessed in November.

    Looking forward, the value of total retail sales in 2025 is projected to rise by 1% from the previous year. Meanwhile, the volume is expected to remain at a similar level as compared to 2024.

    Consumer Sentiment and Tourism

    A government spokesperson highlighted the positive local consumption sentiment, backed by robust economic growth momentum. Coupled with the continued surge in inbound visitors, this is expected to support the retail businesses in the region.

    Tourist arrivals in December saw a significant upturn, with 4.65 million visitors, a 9.2% increase from the previous year, according to data from the Hong Kong Tourism Board.

    Mainland Chinese visitors made up the majority of these arrivals, accounting for 3.35 million. This represents an 8.2% increase year-on-year.

    Sales Across Various Retail Sectors

    In December, certain retail sectors saw remarkable growth. Sales of jewellery, watches, clocks, and valuable gifts surged by 14.3% year-on-year, a significant jump from the 3.6% rise in November.

    However, not all sectors experienced growth. The sales of clothing, footwear, and allied products fell by 10.3% year-on-year in December, despite a 2% increase in November.

    Questions & Answers

    What was the percentage increase in retail sales in Hong Kong in December?

    In December, retail sales in Hong Kong increased by 6.6% compared to the same period in the previous year.

    What is the projected increase in the value of total retail sales in 2025?

    The value of total retail sales in 2025 is projected to increase by 1% from the previous year.

    How did the sales of jewellery, watches, clocks, and valuable gifts perform in December?

    In December, sales of jewellery, watches, clocks, and valuable gifts surged by 14.3% year-on-year.

  • Hong Kong’s Tam Jai Mixian Makes a Splash in the Philippines with Innovative ‘Mala Tang’ Concept

    Hong Kong’s Tam Jai Mixian Makes a Splash in the Philippines with Innovative ‘Mala Tang’ Concept

    Renowned Hong Kong-based noodle franchise, Tam Jai Mixian, has successfully expanded its operations to the Philippines, marking another key milestone in its regional growth strategy. This expansion was made possible through a franchise partnership with Suyen Corporation.

    Tam Jai Mixian’s new location is in the bustling Bonifacio Global City in Taguig, where it serves the brand’s signature soups, snacks, and rice bowls to the delight of local food enthusiasts. Aside from these classic offerings, this new location is also pioneering the brand’s ‘Mala Tang’ concept overseas for the first time. This innovative concept allows customers to personalize their meal by choosing their preferred soup base and spice level from Tam Jai’s 10-point scale.

    Daren Lau, the Chairman and CEO of Tam Jai International (TJI), expressed optimism about the brand’s debut in the Philippines. He emphasized that this new expansion not only strengthens the group’s regional influence but also enriches their already extensive restaurant network. Including this new location in the Philippines, Tam Jai boasts more than 250 stores spread across the Asia-Pacific region, spanning countries such as Hong Kong, Mainland China, Singapore, Japan, Australia, and Malaysia.

    Mr. Lau further indicated that the company is eager to continue its expansion efforts in key markets and grow TJI’s restaurant network. He credited the brand’s success in these ventures to its strategic partnerships with robust local partners, which have been instrumental in ensuring the successful establishment and growth of its branches in different regions.

    Questions & Answers

    What is unique about Tam Jai Mixian’s new location in the Philippines?
    It is the first overseas branch to introduce the brand’s ‘Mala Tang’ concept, which enables customers to customize their bowls by selecting a soup base and spice level from Tam Jai’s 10-point scale.

    How does the company view its expansion to the Philippines?
    The company regards its expansion into the Philippines as a key step in strengthening its regional presence and enriching its extensive restaurant network.

    What strategy does Tam Jai International (TJI) employ for its ongoing expansion?
    TJI has attributed its successful expansion to its partnerships with robust local partners, which have been vital in establishing and growing its restaurant network in key markets.

  • Hollister Boosts Hong Kong Presence with New Store at K11 Art Mall: A Fusion of American Vintage and Chinese New Year Collections”

    Hollister Boosts Hong Kong Presence with New Store at K11 Art Mall: A Fusion of American Vintage and Chinese New Year Collections”

    Hollister, an offspring of Abercrombie & Fitch Co., has broadened its physical retail footprint in Hong Kong with the launch of a new store at K11 Art Mall.

    Store Design and Offerings

    The store’s interior design is a reflection of Hollister’s American-vintage theme, featuring wooden floors, navy accents, and an open layout. The window displays are currently showcasing Chinese New Year merchandise, and the festive design elements can also be observed in the fitting-room areas.

    Hollister’s new store offers a wide range of its core apparel lines, inclusive of denim, casual wear, and seasonal collections. Denim continues to be a major focus at the K11 Art Mall store, boasting a diverse offering of baggy, flare, and straight-leg fits available in multiple sizes.

    In addition to the standard offerings, the store has stocked up on new seasonal ranges. This includes the Love Hollister collection and a Chinese New Year capsule designed to celebrate the Year of the Horse. The latter features hoodies and sweatshirts adorned with red-toned updates.

    Hollister’s Growing Presence in Hong Kong

    The launch of the K11 Art Mall store highlights Hollister’s continued commitment to expanding its brick-and-mortar presence in Hong Kong. This comes at a time when international fashion brands are sustaining their investments in physical stores, parallel to their digital channels.

    Abercrombie & Fitch experienced a surge in sales last year, posting record second-quarter numbers. Hollister played a significant role in this growth, contributing a 19 per cent increase in sales.

    Questions & Answers

    What is the design concept of Hollister’s new store at K11 Art Mall?
    The store follows Hollister’s American-vintage concept with wooden flooring, navy accents, and an open layout.

    What clothing lines does the new Hollister store carry?
    The store carries Hollister’s core apparel lines, including denim, casual wear, and seasonal collections. It also offers a Chinese New Year capsule and the Love Hollister collection.

    How did Hollister contribute to Abercrombie & Fitch’s growth last year?
    Hollister significantly contributed to Abercrombie & Fitch’s growth last year, accounting for a 19 per cent increase in sales.

  • DBS Hong Kong Welcomes Xu Qing as New Credit Chief for Booming North Asia Market

    DBS Hong Kong Welcomes Xu Qing as New Credit Chief for Booming North Asia Market

    DBS Hong Kong, a subsidiary of Singapore’s DBS Bank, has announced the appointment of Xu Qing as the Chief Credit Officer for North Asia and Managing Director, Senior Risk Executive for Hong Kong. Mr. Qing’s appointment came into effect on February 1st.

    In his new roles, Mr. Qing will be responsible for overseeing all credit and risk functions across Hong Kong, mainland China, and Taiwan. He will also serve as a member of the Hong Kong management committee. To assume these roles, Qing has relocated from mainland China to Hong Kong.

    Mr. Qing brings a wealth of experience to these roles, with a career spanning over 20 years covering markets, credit, and operational risks, as well as business development. His journey with DBS began in 2015 when he joined DBS China. His exceptional performance saw him rise to the position of Chief Risk Officer for the unit, and subsequently, he also served as the Deputy CEO of the unit since November 2019. Prior to his engagement with DBS, Mr. Qing held senior positions at the ING Group and Standard Chartered.

    Reacting to the appointment, Sebastian Paredes, CEO of DBS Hong Kong and Head of North Asia expressed his delight. He said, “We are thrilled to have Xu Qing as part of the Hong Kong management team. His deep expertise in risk management, strong international perspective, proven leadership, and extensive experience across the North Asia markets will be invaluable to the team.”

    Questions & Answers

    Who has been appointed as the new Chief Credit Officer for North Asia at DBS Hong Kong?
    Xu Qing has been appointed as the new Chief Credit Officer for North Asia at DBS Hong Kong.

    What are the key responsibilities of Mr. Qing in his new roles?
    Mr. Qing will oversee all credit and risk functions in Hong Kong, mainland China, and Taiwan. He will also serve as a member of the Hong Kong management committee.

    What is Mr. Qing’s background prior to this appointment?
    Mr. Qing has over 20 years of experience across markets, credit, and operational risks as well as business development. He joined DBS China in 2015 and has held senior roles at ING Group and Standard Chartered.

  • Starbucks Debuts Culture-Inspired Concept Store in Hong Kong Palace Museum: Merging Art, Coffee, and Custom Engraving Experience

    Starbucks Debuts Culture-Inspired Concept Store in Hong Kong Palace Museum: Merging Art, Coffee, and Custom Engraving Experience

    Starbucks has unveiled a novel concept store at the Hong Kong Palace Museum in West Kowloon, positioned as a serene oasis amidst the hustle and bustle of the city.

    Store Design and Art Collaborations

    The store showcases unique design collaborations with three prominent local artists. Calligrapher Westley Wong is the creative genius behind the Chinese “Starbucks” brush signage that welcomes visitors at the entrance. Elsa Ngai, another inspiring artist, has enriched the interiors with layered botanical artworks that narrate the life cycle of a coffee plant using mineral pigments and gold leaf.

    Drawing on the serene landscapes of Yunnan and the wisdom of Chinese philosophy, porcelain sculptor Leo Wong has crafted a remarkable ceramic wall installation. Patrons of the store can also enjoy an uninterrupted view of Victoria Harbour while sipping their coffee.

    Exclusive Beverage and Food Menu

    The concept store has launched a new seasonal range of beverages inspired by the plum blossom. The range includes oolong tea and coffee-based creations, all served with plum sauce, a whole plum, and a topping of creamy foam. Customers can choose between hot and iced versions of the drinks, with an option to add tonic water to the chilled variants. The store also offers an exclusive Turmeric Oatmilk Latte, only available at this particular location.

    In terms of food, the store has introduced two unique desserts inspired by Ancient Egypt: the Golden Pistachio Pyramid Cake and the Mummy’s Secret Roll.

    New Services and Experiences

    This concept store is the first in the city to offer a Starbucks engraving service, providing customers with the opportunity to personalize their tumblers. The store will also be hosting Coffee Micro-Experiences like hand-brewing sessions, latte art demonstrations, and curated coffee tastings.

    General Manager of Starbucks Hong Kong and Macau, Alan Chan, states that the HKPM store aims to reflect local culture in its design, range of products, and in-store experiences. The goal is to reimagine the Starbucks Third Place experience by integrating local elements to foster deeper and more meaningful connections with the community.

    Questions & Answers

    What unique design features does the new Starbucks concept store offer?
    The store showcases design collaborations with local artists, including a Chinese “Starbucks” brush signage, botanical artworks, and a ceramic wall installation inspired by Yunnan’s landscape and Chinese philosophy.

    What exclusive beverages and food items are available at the new store?
    The store has introduced a plum blossom-inspired beverage range and an exclusive Turmeric Oatmilk Latte. The food menu includes two Ancient Egypt-themed desserts: the Golden Pistachio Pyramid Cake and Mummy’s Secret Roll.

    What unique services and experiences does the new store offer?
    The store offers a Starbucks engraving service and hosts Coffee Micro-Experiences such as hand-brewing sessions, latte art demonstrations, and curated coffee tastings.