Uniqlo remains determined to overtake Zara. Although parent company Fast Retailing saw profits plummet by 44% in the past financial year and sales fall by 12.3%, the Japanese clothing giant is already expecting a strong recovery next year.
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Fashion brand Esprit says goodbye to its 56 stores in Asia: the chain will only remain active with its own retail network in China, even though the company is listed in Hong Kong. The group has also already applied for protection against creditors.
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Tesco has sold its last remaining Asian activities to CP Group. The company from Thailand pays 10.6 billion dollars (9.3 billion euros) for the 2,000 stores in Thailand and Malaysia. Britain's biggest supermarket chain now only retains a presence in the United Kingdom, Ireland and Central Europe.
Tesco is considering a sale of more than 2,000 of its stores in Thailand and Malaysia. The British supermarket chain has been approached by an, as yet, unknown party.
AS Watson, the holding company of chains like Ici Paris XL, Kruidvat and Rossmann, has appointed Malina Ngai as CEO for Asia and Europe. She also remains a member of the board of directors and COO for the entire AS Watson Group.
On July 19th, AB InBev's Asian branch will be listed on the Hongkong stock market. The beer giant offers 1.6 billion shares at a rate of 40 to 47 Hongkong dollars (4.5 to 5.3 euros) per share.
Belgian chocolate producer Godiva is selling all of its Asian activities to Korean investors. The company wants to use the revenue to launch its own coffee and pastry chain.
Human Rights Watch appeals to the fashion industry to counter sexual intimidation of women in clothing factories in Asia, after a release of a report that paints a horrible picture of working conditions.
In terms of growth, 2018 was the best year cosmetics brand L'Oréal has had in a decade. The success is mainly due to the Asian market and the so-called 'lipstick effect'. 2019 looks promising as well.
Salmon prices are on the rise: Norwegian salmon has become 300 % more expensive in the past five years. Growing Asian demand is the culprit, even though the farmers also had several setbacks.
The 28 countries in the European Union imported an astonishing 81 billion euros' worth of clothing in 2016, with 77 % coming from Asia. That is almost double of what came out of Asia a mere 10 years ago.
Saleduck, a start-up from Amsterdam, is expanding into Asia with an office in Kuala Lumpur. The site combines a range of online offers and discounts on one single page.
Japanese online retailer Rakuten will shut down marketplaces in Malaysia, Singapore and Indonesia, which will put 150 people out of a job. Rakuten's new strategy is the main reason for these closures.
The world's third and fourth largest brewers in the world, Heineken and Carlsberg, forecast a higher profit in 2016 thanks to increased Vietnamese and Southeast Asian demand.