…help Wanda expand the reach of the company’s chain of malls and department stores into cyberspace. The online shopping platform is the product of a $814 million partnership with online giants Tencent and Baidu that was announced in August last year as three of China’s richest men look for a way to take on ecommerce titan Jack Ma. Now that Wanda is cashed up from its $3.7 billion IPO, and finds its traditional businesses under increasing competitiv…
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Li & Fung Retail Unit Sells Hong Kong Circle K Stores for $360M
…he same month in 2019. Li & Fung had already shed its mainland convenience store arm last year for an undisclosed sum, selling 61 Circle K stores, mostly in Guangdong province, to Nanjing-based retail giant Suning as the group sought to cut losses it had been racking up since its 2002 entry into China. In March of this year, Li & Fung completed a privatisation led by the Fung family together with GLP, after the Singapore-based logistics giant agre…
JD.com Says It Will Open 1,000 Convenience Stores Every Day
…a deal with some of China’s biggest developers as it strives to open 2000 online to offline (O2O) grocery stores nationwide in the next three to five years. JD’s first high-profile deal in the emerging O2O retail sector was its investment of RMB 4.3 billion ($700 million) for a 10 percent stake in Shanghai-listed supermarket chain Yonghui Superstores in 2015. In January Alibaba rival Tencent invested in French retailer Carrefour’s China unit, whi…
Wheelock Wins Bid to Privatise SG Unit and More Asia Real Estate Headlines
…aker Xiaomi opening its biggest electronics store ever and Zara opening an online-to-offline concept store in Shanghai. All the details on these stories and more await you below. Wheelock Wins Bid to Privatise SG Unit Wheelock Properties (Singapore) is going private after crossing the threshold for delisting by a hair’s breadth. Parent firm Wheelock and Company’s stake in Wheelock Properties (Singapore) was 90.1 per cent at the close of the volunt…
Apple to Open 3rd Shanghai Store — 5th in China
…e largest flow of customers and the highest revenue in the world. (Please note that the People’s Daily story mistakenly states that Apple currently has one store in Shanghai. The company currently operates one store each in Pudong and Puxi)….
Marks & Spencer Commits to Store at Shanghai City Center
…full range of Marks & Spencer quality apparel, food and home products. The store is going to be located in the newly constructed extension and due to open in 2013. According to a statement from Treasury Holdings, the lease is for ten years with a right of renewal for a further five years. Listed in Singapore in June 2010 Treasury China Trust (TCT) is administered by Treasury Holdings and owns, manages and develops commercial real estate assets in…
‘World’s biggest’ Apple retail store coming to Dalian – and more of today’s China Real Estate Links | March 30, 2012
…l in Dalian, China, has begun advertising that the “world’s biggest” Apple Store is set to open in the near future. The new store will be located at Parkland Mall in Dalian. Pursuit of real estate by rich lifting up Hong Kong prices More and more wealthy people on the mainland are trying to buy properties in Hong Kong, according to the 2012 edition of The Wealth Report, which was released on Wednesday by the consultancy Knight Frank LLP and the we…
New Apple Store Set to Open in Beijing This Year
…e 500 square metre building covers two floors and inside sources claim the store has been in planning phases since Apple’s flagship Wangfujing outlet opened last October. According to a story in the Beijing Business Daily, top team members from the Wangfujing store have already begun training new managers for the soon to be Central Place location. There is speculation that should the new outlet indeed open its doors later this year, that the timin…
Apple’s 11th China Store May Be on the Way in Wuxi
…he company, Apple has said it plans to open two retail stores in Chongqing in southwestern China. A city of six million people, Wuxi already made its place on China’s retail map in 2012 when it became home to the country’s second-largest IKEA store. The city’s per capita GDP surpassed US$20,000 in 2013, according to the local government. Earlier this year, Apple opened a store at the China Central Mall in the Chaoyang District of Beijing, and a sh…
Carrefour, Tencent Open First Le Marche Smart Supermarket in Shanghai
…and-Mortar Partnerships Another tech titan venturing into brick-and-mortar stores is Alibaba’s biggest online retail rival, JD.com, which opened its first 7Fresh grocery store in Beijing this January. Two months later, JD signed an agreement with convenience store chain FamilyMart that will allow users of the e-commerce platform to get food delivered to their doors from any of FamilyMart’s core locations in Beijing, Shanghai, Shenzhen and Chengdu…
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