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Mar 27, 2015

Chasing Chinese tourists, Samsonite launches multi-brand airport shops

By Clare Baldwin

HONG KONG,(Reuters) – Samsonite International (1910.HK: Quote, Profile, Research, Stock Buzz), the world’s biggest luggage maker, attributed its record China sales last year to the company’s wide range of brands aimed at travelers with varying budgets and tastes. Its next target: tourists at airports.

The Hong Kong-listed company reported $227 million in China sales last year after opening hundreds of stores in not just major urban centers on the prosperous coast, but up-and-coming cities in the interior such as Chengdu, which has non-stop flights to destinations as far away as London and San Francisco. China accounted for a quarter of sales in Asia, which was Samsonite’s biggest regional market.

Mar 25, 2015

Hong Kong ready for fresh ‘Occupy’ protests says city leader

HONG KONG (Reuters) – Hong Kong’s leader said on Wednesday the city was prepared for a fresh flareup of pro-democracy street protests, while issuing a call to arms against opposition democratic lawmakers who have disrupted government policy-making in the legislature.

Chief Executive Leung Chun-ying’s comments to a high-profile investment conference just days before the internationally renowned Hong Kong Rugby Sevens tournament, comes as a holdout group of protesters steadily build up their presence outside the city’s government headquarters.

Mar 23, 2015

Noble Group seeks court ban on ‘misleading’ Iceberg Research reports

SINGAPORE/HONG KONG (Reuters) – Noble Group Ltd on Monday asked a court to ban an ex-analyst and a firm he is associated with from publishing what it said was false information, after a slew of reports by an obscure research firm shaved off as much as a third of the commodity trader’s market value over the past month.

The injunction, filed at a Hong Kong court, comes after Iceberg Research issued its third report about one of Asia’s biggest commodity traders, saying Noble had substantially understated its gross and net debt.

Mar 10, 2015

Hong Kong Law Society ‘edits out’ criticism of Beijing in constitution report

HONG KONG (Reuters) – The Law Society in the Chinese-controlled city of Hong Kong edited out criticism of Beijing in its report to the government on constitutional reform, one member said on Tuesday, adding that he was “embarrassed” by its silence.

The report was submitted as part of a public consultation on how Hong Kong’s leader should be elected in 2017 and comes after months of street protests during which police used tear gas and batons to subdue student-led pro-democracy activists.

Mar 5, 2015

China No 3 leader says more attention needed for Hong Kong young

HONG KONG, March 5 (Reuters) – China’s third-ranked leader
wants greater attention paid to young people in Chinese-ruled
Hong Kong, after they staged pro-democracy protests last year
that shut down parts of the city for two and a half months.

Zhang Dejiang, who heads China’s largely rubber-stamp
parliament, the National People’s Congress (NPC), said last
year’s “illegal acts” highlighted a need to focus on young
people and possibly revive the idea of a patriotic curriculum,
Hong Kong media said on Thursday.

Mar 5, 2015

China’s third-ranked leader says to pay more attention to HK youth

HONG KONG, March 5 (Reuters) – China’s third-ranked leader
wants greater attention paid to young people in Hong Kong, after
they staged pro-democracy protests last year that shut down
parts of the city for 2-1/2 months.

Zhang Dejiang, who heads China’s largely rubber-stamp
parliament, the National People’s Congress, said last year’s
“illegal acts” highlight an urgent need to focus on young people
and possibly revive the idea of a patriotic curriculum, Hong
Kong media said on Thursday.

Mar 3, 2015

Luxury shopping hub Hong Kong records worst retail sales since SARS

HONG KONG, March 3 (Reuters) – Hong Kong retail sales in
January slid 14.6 percent from a year earlier in their worst
showing since the Asian financial hub was routed by the severe
acute respiratory syndrome scare in 2003.

While a late Lunar New Year was partly to blame – the
holiday fell in mid-February this year but in January last year
- economists say protracted pro-democracy protests hurt tourism.

Feb 25, 2015

Esprit H1 profit halves, CEO says restructuring not to blame

HONG KONG, Feb 25 (Reuters) – Clothing retailer Esprit
Holdings posted a halving of first-half profit that
also missed analyst estimates, hit by unfavourable currency
rates and as sales slid on the closure of underperforming stores
and unseasonably warm weather in Europe.

Under Chief Executive Jose Manuel Martinez Gutierrez, the
Europe-focused company has launched a dramatic restructuring,
seeking to learn from the business model of his former employer
Inditex SA.

Feb 24, 2015

Mainland Chinese visits to Hong Kong drop amid tensions

HONG KONG (Reuters) – The number of mainland Chinese visitors to Hong Kong during the Lunar New Year holidays fell for the first time in about 20 years as they have felt increasingly unwelcome amid political unrest in the city.

The drop comes as Hong Kong’s leader Leung Chun-ying said he would raise the issue of large numbers of mainland Chinese visitors with Beijing at a parliamentary meeting next month.

Feb 22, 2015

Insight – Hong Kong ‘radicals’ up ante in democracy push against China

HONG KONG (Reuters) – Nearly three months after police cleared away the last of Hong Kong’s pro-democracy street protests, lingering anger is stoking a new front of radical activism that has turned shopping malls and university campuses into a fresh battleground.

While still relatively few in number, a cluster of outspoken groups have staged small but disruptive protests in recent weeks targeting mainland Chinese visitors – tapping a seam of grassroots resentment to call for greater Hong Kong nationalism and even independence from China.

    • About Clare

      "I am based in New York and write about IPOs and wealth management. I was formerly based in San Francisco, where I wrote about tech companies."
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