Slower Asian growth
Stella Luna will add stores in Rue du Faubourg Saint Honoré and near the Champs Elysées, while it already has one in the Saint-Germain neighbourhood in Paris. The company also plans to expand into other European cities, like London.
“Everybody knows, overall business in Asia is not growing like before. Even in Hong Kong it’s going down. It’s about being international, you can’t just be in one place”, Stephen Chi, CEO of its retail business division, has said. “We will continue to take additional steps to further grow the appeal of our brands, while further refining our store network and sales strategy.”
Chinese brands to Europe
Chinese brands increasingly look towards Europe as growth in their own country slows down. Front runners of that particular strategy are household appliance manufacturer Haier and computer manufacturer Lenovo, but other companies are also heading to Europe.
Chinese web shops have now turned their attention to Europe, as they can offer products at very low prices. While that has become a common practice, actual physical stores in Europe have not popped up as much (yet).
