HONG KONG news and archive

Disruption in the Hong Kong Fashion Market

This month’s Fashion Friday podcast series by Euromonitor International examines two key trends that have emerged in the highly disruptive Hong Kong fashion market. Euromonitor International · Fashion Friday: Disruption in the Hong Kong Fashion Market As the apparel and footwear market in Hong Kong has been severely disrupted by COVID-19 from...

Business

Hong Kong sees almost 25 percent decrease in sales

Reuters has reported that Hong Kong has seen a 24.1 percent decrease in retail sales amidst the coronavirus outbreak. The health crisis already made things worse for a market that was already struggling thanks to months of anti-government protests. Tourist traffic, which helped drive retail sales, continue to be on the decline in Hong Kong, and...

Business

Swiss watch exports to Hong Kong plunge in 2019

Swiss watch exports to Hong Kong, the sector's biggest market, plunged 11.4 percent in 2019 due to a wave of pro-democracy protests there, the Swiss watch industry federation said Tuesday. Overall, however, watch exports were up by 2.4 percent to 21.7 billion Swiss francs (20.3 billion euros, 22.4 billion US dollars) because of growth in other...

Retail

Louis Vuitton to close store hit by protest

Louis Vuitton has become one of the first luxury brands to respond to the impact of the ongoing anti-government protests in Hong Kong. The luxury brand will be closing one of its Hong Kong stores that was impacted by the protests. South China Morning Post reported that the brand will be closing its stores in Times Square Mall in the Causeway Bay...

Retail

7000 retail stores could close in Hong Kong

Reuters has reported that one in retailers, about 7000 of Hong Kong's 64,000 licensed retail establishments, could be forced to close down in the next six months. Violent protests have been deterring tourists from visiting Hong Kong costing retailers sales. Hong Kong is typically one of the top shopping destinations for Chinese tourists, but the...

Business

Alibaba shares surgre as Asian market await trade agreement

Asian markets were mixed on Tuesday as investors tracked developments in the China-US trade talks, while Chinese online retail titan Alibaba surged almost eight percent on its Hong Kong debut. While the mood remains upbeat across trading floors that a partial tariffs agreement will eventually be signed, there is a sense of unease about the lack...

Business |ANALYSIS Featured

How Alibaba plans to conquer Hong Kong’s stock exchange: IPO’s details announced

New York – Self-defined as a ‘technology company’, Chinese e-commerce giant Alibaba Group is planning to take the Hong Kong’s stock exchange by storm. Alibaba’s choice hasn’t left anyone indifferent given the current turmoil hitting the Asian economic centre. Last week, the Chinese e-commerce giant confirmed its plans to list in Hong Kong in...

Business |UPDATE

Alibaba's 13 billion dollar Hong Kong public listing official

Chinese technology giant Alibaba on Friday confirmed plans to list in Hong Kong in what it called a 13 billion US dollar vote of confidence in the turbulent city's markets and a step forward in its plans to go global. The enormous IPO, which Hong Kong had lobbied for, will come as a boost for authorities wrestling with pro-democracy protests...

BusinessFeatured

Despite subdued performance in Hong Kong, Moncler posts upbeat results

Revenues at Italian luxury outerwear maker Moncler increased 12 percent at constant exchange and 14 percent at current exchange to 995.3 million euros (1,105.3 million dollars) in the first nine months of 2019. In the third quarter, the company’s revenues rose by 10 percent at constant exchange and 12 percent at current exchange rates. “Moncler...

Fashion Featured

Zara accused of coalition with Hong Kong demonstrators

While the city of Hong Kong hopes to celebrate with optimism the next edition of the Centrestage fashion event, the riots hanging over the region for 13 weeks have placed the Spanish Zara in the center of all eyes. After the harsh protests of this weekend and the day of student strikes last Monday. It all began after the Hong Kong newspaper Ming...

Business

Alibaba postpones Hong Kong listing

Alibaba Group Holding Ltd has delayed its initially planned 15-billion-dollar listing in Hong Kong as protests continue in the region. The company has not set a new timetable for the listing, but the deal could still happen as early as October. Alibaba is watching closely to see if political unrest wanes and market conditions will be favorable....

Fashion

Condé Nast to launch Vogue magazine in Hong Kong

Hong Kong is set to have its own Vogue magazine from Spring 2019, according to local publication South China Morning Post. “We are delighted to launch Vogue in Hong Kong. This magical city has long been a magnet for shoppers and a center of taste and luxury in the heart of Greater China”, Condé Nast’s Chairman and Chief Executive, Jonathan...