Retail in general p1 NBS: Total retail sales of consumer goods up by 10.9% yoy in September 2015

U.K. extends China visitor Visas

E-commerce p1

Tmall to give out e-coupons worth 3 billion yuan for Singles’ Day promotion

Alibaba plans to buy out Youku Tudou for US$ 4.5 billion

Alibaba’s Shenma Search rolls out new “Blu-ray” mode; may threaten Baidu

Weibo launches new version to allow users to post and sell products; taps micro-shop business

JD.com partners with Tencent to launch “Brand-Commerce” platform to expand mobile marketing business

JD.com first self-operated domestic logistics base for overseas direct sales opens in Guangzhou

JD.com signs deal with Sichuan Government; to establish property insurance company in Sichuan

Dianping teams up with Singapore Tourism Board to include tens of thousands of businesses throughout the

city

Amazon China taps maternal and child O2O business

Amazon China rolls out Europe Mall

Vipshop invests 30 million euro in French flash-sales site Showroomprivé

Yunhou Global joins hands with Weimob to expand mobile business and tap micro-shop business

Lalami.com joins hands with Mannings to open first cross-border O2O experiential zones

CITIC Limited, China Mobile and other partners set up JV for cross-border e-commerce business

Mia.com opens first store in a hotel in Sanya of Hainan Province

Secoo opens cross-border experiential store in Milan

Saudi Arabia signs deal with Shenzhen-based Three-Dimensional Depth Technology on cross-border e-

commerce

Department stores and shopping malls p7

Dashang Group acquires 16.15% stake in Youhao Group to expand presence in department store sector

Chengshang Holding acquires two department stores for 2.47 billion yuan

Mingtiandi: China's malls can weather e-commerce threat

Supermarkets and hypermarkets p8

Hongqi Chain teams up with Tencent to accept QQ Wallet payments

Dutch supermarket chain Albert Heijn open stores on Tmall Global

Carrefour’s sales in China fall 11.2% in 3Q15

Apparel p9

Brooks Brothers forges JV with Walton Brown to accelerate growth in Greater China

British outdoor retailer Mountain Warehouse taps China market

Cosmetics and personal care productsp9 Wave of store closures hits retail; China Resources Group to close all VIVO stores

All Watsons stores in China to connect with WeChat Payment

Luxury goods p10 Luxury consumption behavior of Chinese people changes

16 October 2015 – 22 October 2015

1 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

Retail in general

NBS: Total retail sales of consumer goods up by 10.9% yoy in September 2015

According to the National Bureau of Statistics (NBS), total retail sales of consumer goods reached 2.53 trillion yuan in September 2015, up nominally by 10.9% year-on-year (yoy). Of which, retail sales of companies above designated size were 1.25 trillion yuan, up by 8.2% yoy. By area, retail sales in urban areas reached 2.15 trillion yuan, up by 10.7% yoy; while retail sales in rural areas were 380.3 billion yuan, up by 12.1% yoy. In the first nine months of 2015, online retail sales of goods and services grew 36.2% yoy to reach 2.59 trillion yuan. NBS, 19 October 2015 http://www.stats.gov.cn/tjsj/zxfb/201510/t20151019_1257792.html (in Chinese only)

U.K. extends China visitor Visas

The U.K. government recently announced that it will extend multiple-entry visas for Chinese visitors to two-year from the current six-month, starting from January 2016. It also plans to issue 10-year multiple-entry visas for Chinese visitors. Britain will also extend the reach of its mobile fingerprinting service in China to 50 cities from nine and is in talks with the Chinese government to open more visa application centers. According to the U.K. Travel Bureau, visitors from China spend about 500 million pounds each year in the U.K. Furthermore, total number of Chinese visitors has increased by 35% yoy between April and June 2015. Bloomberg, 20 October 2015 http://www.bloomberg.com/news/articles/2015-10-20/u-k-extends-china-visitor-visas-to-lure-free-spending-tourists?utm_source=Jing+Daily+List&utm_campaign=b726bc91e8-Jing_Daily_s_China_Brief_August_18_2015&utm_medium=email&utm_term=0_8dec01cd8d-b726bc91e8-407928521&goal=0_8dec01cd8d-b726bc91e8-407928521

E-commerce Tmall to give out e-coupons worth 3 billion yuan for Singles’ Day promotion Tmall will launch a promotional activity involving tens of thousands of brick-and-mortar stores. From 1 November, Tmall will give out 100 million electronic red packets to consumers with values varying from 1 yuan to 1,111 yuan, and e-coupons worth 3 billion yuan. International brands such as Estée Lauder and Mars, and more than 1,000 local enterprises such as Suning and Intime, will participate in the event, involving more than 180,000 shopping centres and stores across 330 cities and regions in China. All in all, more than 40,000 merchants and 30,000 brands, including some 5,000 international brands from 25 countries and regions such as the U.S., Europe, Japan and South Korea, will participate in the Singles’ Day promotion on 11 November, offering six million types of products.

2 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

China Chain Store & Franchise Association, 21 October 2015 http://www.ccfa.org.cn/portal/cn/view.jsp?lt=3&id=422141 (in Chinese only)

Alibaba plans to buy out Youku Tudou for US$ 4.5 billion Alibaba Group announced that it has made a non-binding proposal to the board of directors of Youku Tudou Inc. (“Youku”) to acquire all shares of Youku. The deal is valued at over US$ 4.5 billion, the largest all-cash transaction ever in China’s Internet industry. After the acquisition is completed, Youku will be delisted from the NYSE and go private. Alibaba said that the proposed transaction will expand the existing partnership between Alibaba and Youku, and would combine Alibaba’s data-driven platforms in e-commerce, media and advertising with Youku’s digital video business. Youku’s high-quality video content will be a core component of Alibaba’s digital product offering in the future. Youyuanw.com, 17 October 2015 http://www.youyuanw.com/portal.php?mod=view&aid=11290 (in Chinese only)

Alibaba’s Shenma Search rolls out new “Blu-ray” mode; may threaten Baidu Alibaba announced that its mobile search engine “Shenma Search” (www.sm.cn) has launched a new interactive function – the “Blu-ray” mode. Shenma Search said that the Blu-ray mode has three features: app-like interaction, gathering of high-quality content and precise search matches. Searching in Shenma Search will not yield a search box and rows of search results in text like Baidu. Instead, it will provide different forms of search results according to the search content. It will integrate and screen the content of the entire Internet and re-organize relevant content such as services, news and videos for graphical display to the users. Analysts believed that Shenma Search may pose a threat to Baidu. Ebrun, 15 October 2015 http://www.ebrun.com/20151015/152017.shtml (in Chinese only)

Weibo launches new version to allow users to post and sell products; taps micro-shop business Weibo has launched a new version of its mobile app to tap the micro-shop business. Users can post and sell products on the Weibo app. These products will be shown in users’ Weibo content sharing timeline. Other users can buy them on the product detail pages. Weibo said that the upgrade will further boost its fan base, and improve its ad and e-commerce ecosystem. Users can also re-post items from third-party e-commerce platforms such as Taobao, Tmall and Weimai.com to earn a commission fee. In the future, more e-commerce platforms and brand merchants will join the program. Ebrun, 14 October 2015

3 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

http://www.ebrun.com/20151014/151935.shtml (in Chinese only) Sina.com.cn, 13 October 2015 http://tech.sina.com.cn/i/2015-10-13/doc-ifxirmqc5084705.shtml (in Chinese only)

JD.com partners with Tencent to launch “Brand-Commerce” platform to expand mobile marketing business JD.com and Tencent Holdings jointly announced plans for strategic cooperation, making full use of resources and products to develop an innovative platform named “Brand-Commerce”. The platform will provide merchants with mobile marketing solutions to help them build brand recognition, increase marketing ROI and improve customer experience, so that they can transform themselves in the “Internet plus” era. Based on Tencent’s social networking data and JD.com’s online shopping data, merchants can conduct precise marketing with better results, reach their target customers and boost their purchases. Sina.com.cn, 19 October 2015 http://finance.sina.com.cn/roll/20151019/081623509265.shtml (in Chinese only) Retail in Asia, 20 October 2015 http://finance.sina.com.cn/roll/20151019/081623509265.shtml

JD.com first self-operated domestic logistics base for overseas direct sales opens in Guangzhou JD.com revealed that during the Singles’ Day promotion period (1 November to 11 November), its South China branch will carry out a series of promotional activities. Meanwhile, apparel merchants can enjoy free warehousing and distribution services. Besides, JD.com’s first self-operated domestic logistics base for overseas direct sales business has been opened in Nansha, Guangzhou. With the self-operated warehouses, consumers in South China can buy high-quality imported products more cheaply and conveniently during the event. The self-operated warehouses can also help ensure the quality of service and improve order fulfillment. Ebrun, 19 October 2015 http://www.ebrun.com/20151019/152367.shtml (in Chinese only)

JD.com signs deal with Sichuan Government; to establish property insurance company in Sichuan JD.com has signed a strategic cooperation framework agreement with Sichuan Government. Sichuan Government will support the development and operation of JD.com’s businesses in Sichuan, such as JD Research Institute, national online customer service centre, e-commerce industrial park, intelligent logistics base and warehousing and logistics system, and JD Daojia O2O platform. Sichuan Government will also provide support for JD.com in terms of logistics, rural e-commerce and other areas, such as encouraging local agricultural producers and distributors to open stores on JD.com. Besides, JD.com will establish a property insurance company in Sichuan, the first time JD.com has tapped the insurance industry.

4 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

Ebrun, 15 October 2015 http://www.ebrun.com/20151015/152129.shtml (in Chinese only)

Dianping teams up with Singapore Tourism Board to include tens of thousands of businesses throughout the city

China’s social review and consumer guide platform Dianping.com has announced strategic partnership with Singapore Tourism Board recently. Both parties will work closely together in travel information, travel packages and local events. The partnership aims to provide Chinese tourists latest travel information in Singapore and meet their essential travel needs in dining, sightseeing, accommodations, shopping, city guides and other aspects. According to dianping.com, it already had information on more than 10,000 companies in tourism industry in Singapore and sales tickets for over 60 major tourism sites. Moreover, dianping.com has more than 100,000 reviews which cover restaurants, attractions, shopping centres, hotels, leisure and entertainment sectors in Singapore. Among all the social review apps in Singapore, dianping.com is the app which covers the largest number of shops. Ebrun, 22 October 2015 http://www.ebrun.com/20151022/152894.shtml (in Chinese only)

Amazon China taps maternal and child O2O business Amazon China, Philips Avent (a baby product manufacturer) and Care Bay (a healthcare service provider for new moms and babies) announced that they have entered into a cooperation agreement. The three companies will jointly establish a maternal and child O2O service platform. Meanwhile, the Amazon Household membership program will connect with the Amazon Global Store to introduce nearly 500,000 types of products into the program. Under the partnership, the online and offline channels of Amazon’s health channel, Philips Avent and Care Bay will connect with each other. Their customer relationship management system will also be integrated to allow shared membership rights. At the same time, the three companies will leverage the Amazon platform to launch an activity called “Super Brand Festival”. Ebrun, 21 October 2015 http://www.ebrun.com/20151021/152726.shtml (in Chinese only)

Amazon China rolls out Europe Mall Amazon China has rolled out the Europe Mall to offer well-known brands from nearly 20 European countries such as the U.K., France and Germany. This is the first initiative under the Memorandum of Understanding signed between Amazon and the UK Trade & Investment in September. The mall offers nearly 10,000 types of products of selected best-selling product categories from about 150 brands, including maternal and baby products, toys, wine and apparel. Currently, Amazon

5 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

China is not eager to participate in the Singles’ Day promotion. Instead, it will concentrate efforts on the “Black Friday” on 27 November. ChinaSSPP.com, 20 October 2015 http://www.chinasspp.com/News/Detail/2015-10-20/206080.htm (in Chinese only)

Vipshop invests 30 million euro in French flash-sales site Showroomprivé Chinese e-commerce enterprise Vipshop Holdings Ltd., through its subsidiary Vipshop International Holdings Ltd., has committed to invest 30 million euro in French flash-sales site Showroomprivé in its initial public offering (IPO). Vipshop will become a cornerstone investor of Showroomprivé. The company said that it is looking forward to further collaborations with Showroomprivé in the future. Linkshop.com.cn, 20 October 2015 http://www.linkshop.com.cn/web/archives/2015/335684.shtml (in Chinese only) Winshang.com, 20 October 2015 http://yn.winshang.com/news-536487.html (in Chinese only)

Yunhou Global joins hands with Weimob to expand mobile business and tap micro-shop business Yunhou Global, the e-commerce platform under Better Life Commercial Chain Share Co., announced a strategic partnership with Weimob. Yunhou Global will leverage Mengdian.com, a micro-shop service platform of Weimob, to tap the micro-shop business and further expand its mobile business. Yunhou Global said that mobile business will be its top priority. The cooperation with Weimob will not only raise the proportion of mobile business, but also increase its brand influence and facilitate social marketing. Weimob is a third-party service platform providing marketing services specifically for WeChat public accounts. Ebrun, 16 October 2015 http://www.ebrun.com/20151016/152236.shtml (in Chinese only)

Lalami.com joins hands with Mannings to open first cross-border O2O experiential zones Cross-border e-commerce enterprise Lalami.com will soon sign a cooperation agreement with Hong Kong-based Mannings for joint development of cross-border O2O business. Lalami.com said that some Mannings stores will set aside a separate cross-border e-commerce experiential zone for exhibition of Lalami.com’s products (such as overseas cosmetics and beauty products, health care products, maternal and child products). Customers can scan a QR code to enter the official website of Lalami.com to purchase the product. Besides, Lalami.com’s official platform will sell the products of Mannings’ overseas brands. The two companies will also share their back-end membership systems.

6 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

Ebrun, 19 October 2015 http://www.ebrun.com/20151019/152258.shtml (in Chinese only)

CITIC Limited, China Mobile and other partners set up JV for cross-border e-commerce business CITIC Limited announced that its indirect wholly-owned subsidiary CITIC Holdings will establish a joint venture (JV) called F2F Cayman Islands Holdings Limited with CPG, SII International, ITOCHU, China Mobile and Wealth Partner. The parties will set up the JV through joint investment of US$ 483.88 million (equivalent to about 3.074 billion yuan) in order to operate cross-border e-commerce business in China. Wealth Partner will hold a 20% equity interest of the JV, while other partners will each hold 16%. Ebrun, 19 October 2015 http://www.ebrun.com/20151019/152449.shtml (in Chinese only)

Mia.com opens first store in a hotel in Sanya of Hainan Province Mia.com, an e-commerce site dedicated to maternal and baby products, has rolled out its first brick-and-mortar store in the Horizon Resort and Spa Hotel in Yalong Bay in Sanya, Hainan Province. The hotel is the most popular five-star hotel for families in Yalong Bay. The partnership is also the first multi-format cooperation between a hotel and an online retail platform in China. Mia.com said that the reason for opening the store in a hotel is that tourists in Sanya, Yalong Bay in particular, are its target users. China Chain Store & Franchise Association, 21 October 2015 http://www.ccfa.org.cn/portal/cn/view.jsp?lt=3&id=422142 (in Chinese only)

Secoo opens cross-border experiential store in Milan Luxury e-commerce platform Secoo has opened a cross-border experiential store named Secoo Milan in Piazza Del Duomo in Milan, Italy. It is the first overseas experiential store established by a Chinese cross-border e-commerce enterprise. Secoo said that the store is an important step for its global strategy. The store provides concierge services in multiple languages for consumers. The concierge will help consumers with shopping, matching guidance, tax-refund and currency exchange and other customized services. It also provides a two-way “Click-Collection” cross-border shopping service for consumers, through which they can place orders in China and pick up the goods in Milan, and vice versa. Sina.com.cn, 21 October 2015 http://fashion.sina.com.cn/2015-10-21/1033/doc-ifxivsce6996881.shtml (in Chinese only) Ebrun, 22 October 2015 http://www.ebrun.com/20151022/152893.shtml (in Chinese only)

7 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

Saudi Arabia signs deal with Shenzhen-based Three-Dimensional Depth Technology on cross-border e-commerce Prince Abdullah, on behalf of Saudi Arabia, has signed a strategic cooperation agreement on cross-border e-commerce with Shenzhen-based Three-Dimensional Depth Technology Co. Ltd. (3weidu.com) and American Global Fund. Under the agreement, they will introduce products from world-renowned luxury department store Harrods into China. Three-Dimensional Depth Technology will be an agent for Harrods in the Asia-Pacific region. Moreover, they will establish a joint venture in the U.S. to develop cross-border e-commerce business in Saudi Arabia and the Middle East region. Three-Dimensional Depth Technology also said that it will launch an overseas website in July 2016 to provide cross-border e-commerce shopping service for consumers in Saudi Arabia and the Middle East region. Ebrun, 21 October 2015 http://www.ebrun.com/20151021/152838.shtml (in Chinese only)

Department stores and shopping malls Dashang Group acquires 16.15% stake in Youhao Group to expand presence in department store sector Youhao Group, a state-owned enterprise and the number one retailer in Western China, disclosed that its original controlling shareholder, Urumqi State-owned Assets Operation Co. Ltd., had signed an equity transfer agreement with Dashang Group. Dashang Group has acquired a 16.15% stake in Youhao Group for 570 million yuan in cash to be the latter’s controlling shareholder. Analysts pointed out that the acquisition means that Dashang Group will expand its presence in department store sector to Xinjiang Province. Linkshop.com.cn, 21 October 2015 http://www.linkshop.com.cn/web/archives/2015/335721.shtml (in Chinese only)

Chengshang Holding acquires two department stores for 2.47 billion yuan Chengshang Holding, a subsidiary of Maoye International Holdings, announced its plan to acquire 100% of the equity interests in Chengdu Renhe Chuntian Department Store owned by Chengdu Renhe Industrial, and 100% of the equity interests in Qingyang Renhe Chuntian Department Store owned by Grand Collection, for a total of 2.47 billion yuan in cash. Maoye believed that Chengshang can increase its market share in Chengdu, develop synergies and reduce operating costs after the acquisition. The two department stores are targeting medium- to high-end markets, which can also complement the existing medium-end market business of Chengshang, and enhance Chengshang’s competitiveness. ChinaSSPP.com, 19 October 2015 http://www.chinasspp.com/News/Detail/2015-10-19/205982.htm (in Chinese only)

8 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

Mingtiandi: China's malls can weather e-commerce threat According to a report - China Mall 2020, published by Mingtiandi, an independent source for news and information on China's real estate market, developers are still optimistic about building new malls in China despite the growth of e-commerce. Mingtiandi forecast that China’s malls of the future will be those that embrace powerful new technological capacities made for digital marketing and incorporate smart design elements to differentiate the retail experience to meet increasing consumer and retailer needs. Under the increasingly intense competitive environment, those shopping centers who fail to adopt new marketing techniques and online network will be at risk of being eliminated. China Daily, 20 October 2015 http://usa.chinadaily.com.cn/epaper/2015-10/20/content_22229558.htm Link to the report: http://www.taubmanasia.com/china-mall-2020/zh/index.html

Supermarkets and hypermarkets Hongqi Chain teams up with Tencent to accept QQ Wallet payments Tencent’s QQ Wallet has established a strategic partnership with Chengdu-based Hongqi Chain for cooperation in mobile payments, in a move to tap the O2O consumer market. Through this partnership, all Hongqi stores will accept QQ Wallet payments. Hongqi Chain said the two companies will conduct in-depth cooperation in the future to provide consumers with better services. QQ Wallet believed that the cooperation will help develop O2O offline channels in the Western China. Linkshop.com.cn, 21 October 2015 http://www.linkshop.com.cn/web/archives/2015/335775.shtml (in Chinese only)

Dutch supermarket chain Albert Heijn open stores on Tmall Global Ahold Group’s Albert Heijn, the largest supermarket chain in the Netherlands, announced that it will open an official flagship store on Tmall Global, offering maternal and child food and personal care products from the Netherlands. Ahold Group said that its entry into the China market and cooperation with Alibaba is driven by Chinese consumers’ rising demand for high-quality food and growing popularity of online shopping in China. Ebrun, 16 October 2015 http://www.ebrun.com/20151016/152173.shtml (in Chinese only)

Carrefour’s sales in China fall 11.2% in 3Q15

9 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

Carrefour, the largest retailer in France, announced that its sales in 3Q15 reached 21.5 billion euro, up 4.2% year-on-year (yoy). Sales in China fell by 11.2% yoy. In the first nine months of 2015, Carrefour reported sales of 63.864 billion euro, up 3.4% yoy. Sales in China fell by 10.6% yoy due to weakening consumption. Besides, Carrefour China has opened a new store on the Rongle Road in Songjiang District of Shanghai, bringing its store count in Shanghai to 30. Jiemian.com, 16 October 2015 http://www.jiemian.com/article/407381.html (in Chinese only)

Apparel

Brooks Brothers forges JV with Walton Brown to accelerate growth in Greater China

U.S. menswear retailer Brooks Brothers has set up a joint venture (JV) with Walton Brown, a subsidiary of The Lane Crawford Joyce Group, Asia's premier fashion retail and brand management group to accelerate its market expansion throughout Greater China. The JV will take over the management of Brooks Brothers' existing retail network of 90 stores in the region and will open more than 10 stores in the coming two years across key cities in China, Hong Kong, Macau, and Taiwan. In addition to freestanding stores, the JV will invest in a multi-channel distribution platform providing wholesale, outlets, travel retail and e-commerce channels to bolster brand presence and fuel business growth in the region. Retail in Asia, 20 October 2015 http://www.retailinasia.com/article/retail/store-development/2015/10/brooks-brothers-forges-jv-walton-brown-accelerate-growth-gr

British outdoor retailer Mountain Warehouse taps China market British outdoor retailer Mountain Warehouse has opened an official flagship store on Tmall Global (mountainwarehouse.tmall.hk), just in time for the Singles’ Day on 11 November. Currently, the store offers products categories such as wind jackets, jackets, hiking boots and backpacks. Customer can also pre-order products for the Singles’ Day. Linkshop.com.cn, 19 October 2015 http://www.linkshop.com.cn/web/archives/2015/335594.shtml (in Chinese only)

Cosmetics and personal care products

Wave of store closures hits retail; China Resources Group to close all VIVO stores China Resources Group’s health and beauty retail chain VIVO announced that its stores will gradually cease operations from 1 September, and all of its stores in China will cease operations by 31 December. Besides, retailer Renrenle Commercial Group also announced its plans to close 15 underperforming stores

10 China Retail Weekly Updates (16 October 2015 – 22 October 2015)

this year, in order to concentrate resources on the company’s strategic transformation. Analysis pointed out that rising rents and increasing competition from e-commerce have made life difficult for brick-and-mortar retailers. Ebrun, 19 October 2015 http://www.ebrun.com/20151019/152357.shtml (in Chinese only)

All Watsons stores in China to connect with WeChat Payment Personal care chain store Watsons will have all of its 2,320 stores in China connected with WeChat Payment this month, in a move to streamline payment procedures and provide customers with O2O consumption experience. Watson will also join hands with WeChat Payment to carry out promotional activities. In the future, Watsons and WeChat Payment will work together in customer relationship management (CRM) and membership system to enable membership management and diversion of online traffic, so as to increase user loyalty. It is hoped that Watsons stores can attain O2O integration and a sales growth. Youyuanw.com, 16 October 2015 http://www.youyuanw.com/portal.php?mod=view&aid=11284 (in Chinese only)

Luxury goods Luxury consumption behavior of Chinese people changes A survey of retailers in the U.S., Asia and Europe showed a notable shift in the behavior and tastes of Chinese luxury consumers. In the past, they bought luxury goods mainly as gifts for their boss or government officials. Now, they are more likely to buy for themselves or friends. They make more and more luxury purchases overseas. They are also more likely to buy apparel and new labels. The report also noted that Chinese Government’s clamp-down on corruption and conspicuous spending has prompted more Chinese consumers to buy luxury goods abroad to save money and shop anonymously. China Chain Store & Franchise Association, 15 October 2015 http://www.ccfa.org.cn/portal/cn/view.jsp?lt=3&id=422057 (in Chinese only) Reuters, 12 October 2015 http://www.reuters.com/article/2015/10/12/luxury-china-idUSL3N12A04U20151012

Fung Business Intelligence Centre

The Fung Group is a privately held multinational group of companies headquartered in Hong Kong whose core businesses are trading, logistics, distribution and retailing. The Fung Group employs over 45,000 people across 40 economies worldwide, generating total revenue of more than US$22.6 billion in 2013. Fung Holdings (1937) Limited, a privately held business entity headquartered in Hong Kong, is the major shareholder of the Fung group of companies.

The Fung Business Intelligence Centre collects and analyses market data on sourcing, supply chains, distribution and retail. It also provides thought leadership on technology and other key issues shaping their future. Headquartered in Hong Kong, FBIC leverages unique relationships and information networks to track and report on trends and developments in China and other Asian countries. In addition, its New York-based Global Retail & Technology research team follows broader retail and technology trends, specialising in how they intersect and building collaborative knowledge communities around the revolution occurring worldwide at the retail interface. Since its establishment in 2000, the FBIC (formerly known as the Li & Fung Research Centre) has served as the knowledge bank and think tank for the Fung Group. Through regular research reports and other publications, it makes its market data, impartial analysis and expertise available to businesses, scholars and governments around the world. It also provides advice and consultancy services to colleagues and business partners of the Fung Group on issues related to doing business in China, ranging from market entry and company structure, to tax, licensing and other regulatory matters.

Contact

Teresa Lam Vice President Asia Distribution and Retail

Fung Business Intelligence Centre 10/F LiFung Tower 888 Cheung Sha Wan Road Kowloon, Hong Kong

T: (852) 2300 2466 F: (852) 2635 1598 E: TeresaLam@fung1937.com W: www.fbicgroup.com

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