Gucci reportedly raised its retail selling price for the second time this year in China. The price-lift increased the price of its goods by 10% effective 17 October 2016. Gucci has already raised prices in the European market earlier by 10-30 euro, which was much lower than the increase in China. Gucci’s sales associate claimed that the price increase was due to a combination of different factors such as rising costs of raw materials and exchange rate changes.
Japanese Kao Group announced its threeprong sales strategy in China, developing its business through channels such as major retailers, distributors and e-commerce platforms. In the area of e-commerce, Kao said that the markets of diapers and cosmetics products are expanding quickly. In the area of wholesale distribution, Kao said that specialty stores for mother and infant products and personal care products have ample growth potential. Kao wishes to extend its successful brand image in the diapers market to product categories such as skincare, cosmetics and laundry detergent.
Alibaba Group founder and executive chairman Jack Ma is eyeing Thailand’s e-commerce and e-payment business and offered to help screen Chinese visitors, Deputy Prime Minister Somkid Jatusritak said on Tuesday. Ma shared his views at a meeting with Somkid at Government House. He wanted to take part in developing digital business in Thailand through the government as he had sone in China and other countries, Somkid said. He eyed small and medium-sized enterprises (SMEs), which make up more than 90% of Thai operators, planning to provide them with chances to export their products through a jointly developed platform, the deputy prime minister said. Alibaba would train Thai businessmen and SMEs on e-commerce. He will also introduce e-commerce courses together with the Thai government and local schools to enable Thai students to develop their start-ups in the future, he said. Alibaba and the Thai government would form a joint working group to formulate an action plan for the e-commerce development, Somkid said. China’s second richest man also expressed his intention to develop an effective e-payment system with the Thai government, focusing on fraud prevention, Somkid said. The Alibaba founder also proposed his group help screen Chinese visitors to Thailand to ensure the arrivals of quality tourists. Most outbound Chinese tourists used Alibaba’s Alipay online payment system, so the group already had their data, Somkid quoted Mr Ma as saying. The Chinese tycoon also offered to promote free trade areas for small companies in Southeast Asia and develop Thailand into an electronic hub of the region, Somkid said.
Australian wine giant Treasury Wine Estates (TWE), owner of Penfolds and Beringer, has opened its Penfolds flagship store in Shanghai, the same day as it officially released its Penfolds 2016 collection. Opened on 20 October, the flagship store is TWE’s first in the Shanghai region and becomes the fifteenth of such stores in China for the group. All flagship stores are managed by TWE’s in-market partners. The store offers all ranges of wines from Penfolds, as well as other brands owned by the group such as Wolf Blass, Rawson’s Retreat, Lindeman’s and Beringer. All the wines are imported directly from TWE in Australia to ensure their quality, the group said, adding the store will be managed by its authorised importer in Shanghai. Robert Foye, TWE’s president and managing director of Asia and Europe, Middle East and Africa regions, and Peter Dixon, TWE’s general manager of North Asia, attended the opening ceremony. “Our big core brands of Penfolds, Wolf Blass and Beringer are now available in this beautiful flagship store.” Foye added. The store is located on Banquan Road in Pudong New District.
Fulllink Shopping Mall Developer: Beijing Fulllink Property Development Limited. GBA: 30,000m2
China World Shopping Mall Developer: China World Trade Center GBA: 60,000m2
Capital Times Square Developer: Beijing Capital New Times Square Development Co., Ltd GBA: 120,000 sq.m
LE MALL Developer: BWCSC GBA: 290,000m2
Yitian Holiday Plaza Developer: Shenzhen YITIAN Real Estate Group Co., Ltd. GBA: 135,800 m2
Seasons Place Developer: Financial Street Holding Co., LTD GBA: 89,000m2