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News on Consumers & Retail in China

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Zibuyu zooms in

Smaller rival lists in Hong Kong before SheIn
Nov 25, 2022 (WiC 609)

The question of when SheIn is going to list on the stock market has been floating around for some time. Early this year, the ultra-fast fashion firm was said to be valued at $100 billion in a fundraising round. There were rumours too that its ...

US brand offloads struggling Chinese operations
Nov 18, 2022 (WiC 608)

Back in September, rapper Kanye West, who now goes by the name Ye, announced that he had terminated his partnership with Gap, claiming that the retailer had breached its agreement by not opening dedicated stores and failing to release apparel ...

Wrinkles on display

Investors underwhelmed by beauty firm Shanghai Jahwa’s lost decade
Nov 4, 2022 (WiC 606)

Formerly known as Kwong Sang Hang, Shanghai Jahwa was founded as a company in 1898 and is hailed as the oldest cosmetics maker in China. When Ronald Reagan, the former US president, visited Fudan University in 1984, the Shanghai government ...

Luckin Coffee founder starts a new cafe chain
Nov 4, 2022 (WiC 606)

Tenacious is one of the many adjectives that might be used to describe Lu Zhengyao, a co-founder and former chairman of Luckin Coffee before the coffee chain was exposed for overstating revenues. The entrepreneur, who started his first ...

Source of concern

Soy sauce shoppers fume that the Japanese get a superior product
Oct 20, 2022 (WiC 604)

Traditionally, soy sauce is a simple mix of soybeans and wheat, water and salt. The beans are soaked before being added to wheat flour. The mixture is allowed to ferment; salt and more water are added; and the resulting liquid is aged for months, ...

Money from meatballs

Furnishing giant turns to food strategy to boost store sales
Oct 20, 2022 (WiC 604)

When Swedish furniture giant IKEA started selling food and drink it was seen more in terms of a customer service strategy than a new product line. Founder Ingvar Kamprad thought that if consumers were hungry as they shopped, they would be ...

Finding the right formula

Can Feihe sustain local comeback in the milk powder market?
Oct 7, 2022 (WiC 603)

The World Health Organisation has long advocated that babies under six months old should be fed breast milk because of its contributions in protein and calcium, as well as other benefits in boosting protections from disease. But breastfeeding ...

Back in business

Li Jiaqi, the Lipstick King, makes livestreaming comeback
Sep 30, 2022 (WiC 602)

After disappearing abruptly from public view in June, China’s biggest e-commerce livestreamer is back. Li Jiaqi’s return was as unexpected as his exit. But on September 20, he resurfaced on Taobao Live, generating so much buzz that he became ...

Family fortunes

How the scions of some of Fujian’s richest families are marrying
Sep 23, 2022 (WiC 601)

The doorways of traditional courtyard houses in Beijing are typically adorned with a pair of stone bearings (mendang), as well as wooden pins (hudui) for hanging lanterns. These fixtures were designed to reflect the ...

Nobody’s perfect

Why Yatsen’s shares have struggled since New York IPO
Sep 16, 2022 (WiC 600)

In April, when China was in the middle of one of its many Covid lockdowns, Huang Jinfeng, the chairman and chief executive of beauty retailer Yatsen, went to Japan. He told 36Kr that he had a burning question during his trip: “In times when ...

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