綠色BN
2014-06-24

Retail News Roundup – June 24

The top 5 retail news clips in Asia this week.
Newspaper
1 – SM Prime allots USD200m for China expansion
SM Prime Holdings Inc., the integrated property firm of Henry Sy, is spending around USD200 million for its shopping mall expansion in mainland China. The umbrella property firm, one of the largest in Southeast Asia, will draw down until late this year the bulk of the proceeds of a USD300-million syndicated loan, an executive said. 
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2 – Retail chain Croma to focus on top 25 Indian cities
Tata Group’s Infiniti Retail, which runs the nationwide retail chain under Croma brand, plans to add 11-12 new stores in India this year, but only in cities where it is already present.
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3 – 7-Eleven Malaysia launches new concept
Convenience store 7-Eleven plans to open 200 new concept stores in Malaysia over the next two years. The concept stores will include a cafe, with food and beverages provided.
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4 – Japanese chain eyes Philippine growth
Japanese fastfood chain Yoshinoya will add up to three new outlets in the Philippines this year. That would be an addition to its seven outlets trading there since it arrived in 2001.
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5 – China’s tech giants fight for Alibaba’s e-commerce crown
Ever since Alibaba’s mega U.S. IPO announcement, the world has been paying extra-close attention to China’s e-commerce industry. While Alibaba is the clear front runner in the race so far, its stellar performance belies a slowing Chinese economic growth. In addition, its ties to China’s troubled and opaque finance industry has left industry experts wondering if Alibaba can hold on to its crown, especially after it lost market share to rivals in China last year.
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 By Chris Hubbard 
   Market Strategy

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