LVMH-Backed L Catterton Agrees to Buy Majority Stake in Kiko
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
Retail sales value fell 4.2 percent from a year ago, the Census and Statistics Department said Wednesday.
Hong Kong no longer has the world’s most-expensive retail district after rents plummeted due to Covid curbs and restrictions on visitors.
The fall in sales value from a year earlier was worse than the median estimate of a 12.6 percent decline expected by economists in a survey, though it was less than the 14.6 percent drop in February.
Landlords in Hong Kong’s priciest retail strips are facing a wake-up call: the days of leasing stores for $1 million a month are over.
ADVERTISEMENT
Fashion has yet to crack industrial-scale recycling technologies that can keep clothes out of landfill. But there are solutions on the horizon, says Edwin Keh.
The pandemic and conflict between pro-democracy protesters and the government have dealt a severe blow to Hong Kong’s status as a corporate hub. Shanghai and Singapore will benefit most.
On Thursday, the Chinese e-commerce giant’s logistics unit received approval to press on with an initial public offering that could raise up to $4
In a bid to attract shoppers back to the city’s brick-and-mortar stores, several high-end malls have launched cash voucher programmes in which luxury
ADVERTISEMENT
With inbound tourism unlikely to see a swift rebound, the city's retail sector continues to suffer in the wake of Covid-19 and socio-political unrest.
Retail sales by value fell 13.1 percent from a year earlier to HK$25.6 billion ($3.3 billion).
The Chinese apparel group is looking to publicly float the textile business following its weak financial performance.
China's second-largest online retailer could launch the offering to raise at least $2 billion as soon as next week.
The private equity fund has entered into a definitive deal with the Percassi family, which will retain a “significant stake” in the business.
The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
The move means Shein could be liable for fines of as much as 6 percent of global revenue for violating the law, designed to curtail the spread of illegal content online.
Since the merger announcement, Capri has reported weaker-than-forecast earnings twice, spurring concern about its performance in the coming quarters.
The new scent, Zouzou, is the fashion house’s first new perfume since 2022.
Unilever Plc sales jumped more than expected in the first quarter as Chief Executive Officer Hein Schumacher pushes ahead with his turnaround plan and shoppers come back to premium brands.
President Biden signed the bill that gives China-based ByteDance 270 days to divest TikTok’s US assets or face a ban.
The Alphabet Inc. company said in a blog post Tuesday that it’s still working with the ad industry and regulators on the plan.