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News on Consumers & Retail in China

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Problems percolating for Heytea as growth slows
Feb 18, 2022 (WiC 573)

In 2017, a food blogger asked the burning question that many consumers – who’d spent hours queuing in line at Heytea – wanted an answer to: is Heytea really that good or were people getting hyped up over nothing? The tea chain, of ...

Walking the wok

Why Chinese food chains have become a hotspot for IPO investors
Feb 11, 2022 (WiC 572)

For a sign that Beijing’s ongoing crackdown on the lucrative tech sector has sent investors in search of alternative markets, look no further than the growing list of restaurant chains that are looking to go public. Last week, Country Style ...

Wahaha is expanding into the booming baijiu business
Feb 11, 2022 (WiC 572)

It became apparent it’s not easy to make money in the China market when Coca-Cola saw the need to deviate from its traditional soft drink formulas and launch a health supplement drink (see WiC495). The same logic may also apply to Wahaha. ...

The handbag index

Celine handbags in focus as inflation hits the luxury goods sector
Jan 28, 2022 (WiC 571)

The world is grappling with soaring consumer prices. The US, for instance, is struggling with the highest inflation in 40 years. China’s consumer inflation, on the other hand, has been subdued over the past year or so, largely because of the ...

Beautiful coding

Why AI giant SenseTime is moving into cosmetics
Jan 21, 2022 (WiC 570)

After raising over $500 million in an initial public offering in Hong Kong (see WiC568), it didn’t take long for AI technology firm SenseTime to put some of the proceeds to use. In early January, tech news portal Cyzone reported that ...

Bird’s nest maker to test IPO market’s appetite
Jan 21, 2022 (WiC 570)

Bytedance’s investment in Weinian Brand Management looked doomed from the start. Not long after the two announced a deal – which saw the parent company of TikTok acquiring a 1.5% stake in the influencer incubator last July – Weinian was ...

Losing influence

Shockwaves as livestreaming celebrities hit by heavy fines for tax evasion
Jan 7, 2022 (WiC 568)

When an estranged boyfriend exposed actress Zheng Shuang in 2021 for using a covert contract to conceal her true income for a television show, the public were shocked to find that the starlet got paid Rmb160 million for just 77 days of filming ...

Property magnate switches tack to steamed buns
Dec 10, 2021 (WiC 567)

Mao Daqing, like many other of the senior executives at his previous employer Vanke, is an outdoor sports enthusiast. Famously Vanke founder Wang Shi has climbed Mount Everest – twice, in fact. Mao, a former vice-president at the property ...

Kardashian makes push into China while 9,000 store local firm goes bust
Dec 3, 2021 (WiC 566)

Kim Kardashian’s ‘shapewear’ brand Skims, like its founder, is no stranger to controversy. The range was initially called Kimono, until accusations of cultural appropriation in Japan prompted a change of heart. Kardashian also launched the ...

Feeling like they got skinned

Why China’s two top livestreamers went to war with beauty giant L’Oreal
Nov 26, 2021 (WiC 565)

Last August Tesla crossed swords with Chinese e-commerce platform Pinduoduo after it hosted a group-buying session offering the Tesla Model 3 for Rmb40,000 less than the retail price (a saving that equated to $6,621). Pinduoduo had partnered ...

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