綠色BN
2014-03-04

Retail News Roundup – Mar 4

The top 5 retail news clips in Asia this week.
Newspaper
1 – Old Navy opens first store in China
Gap Inc. opened Old Navy’s first store in China on 1 March, continuing its expansion outside the US. The 22,000 square foot three-level store is located in Shanghai’s famous Nanjing West Road in the Jing’an District, a major commercial area known for shopping, sightseeing, hotels and office buildings.
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2 – Spencer’s to open 100 hypermarkets across India by 2017
Spencer’s Retail Limited, an RP-Sanjiv Goenka group company, on Friday said it would open 100 hypermarkets (retail stores) across India by 2017.
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3 – Hilton taking share from competitors in China
Asked on CNBC whether Hilton’s growth in China is greater than Starwood’s and Marriott’s, Nassetta said that Hilton is taking share away from a lot of competitors in China..
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4 – Costa Coffee to split with Indian partner
British coffee chain Costa Coffee may break its partnership with India’s Devyani International. The move comes after the Indian partner reportedly declined to invest more in a slowing economy. Costa Coffee is likely to sign a new partner to develop its brand, The Economic Times reports.
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5 – Fast Retailing eyes J. Crew
Japanese giant Fast Retailing is in talks to buy US retailer J.Crew. Run by CEO Mickey Drexler, J.Crew is a multi-channel retailer of women’s, men’s and children’s apparel, shoes and accessories. The company operates 330 retail stores, including 257 J.Crew retail stores, eight crewcuts stores and 65 Madewell stores.
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 By Chris Hubbard 
   Market Strategy

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