AmorePacific Expects China Sales To Grow 30 Percent In 2015

South Korean cosmetics company AmorePacific Group said it expects sales in China to grow 30 percent in 2015. In 2014, China sales grew 21 percent to 4.7 trillion won, or $4.3 billion, the company reported on February 2, 2015. AmorePacific is expanding its channel in the country to grab a bigger share of China's middle-class market. In 2020, China is expected to account for 30 percent of the company's total sales, up from 8.6 percent in 2013.

"Korea Pop Fervor to Lift AmorePacific China Sales by 30%", Bloomberg, February 09, 2015

Henkel Opens Management Center In Shanghai

Henkel opened its new Henkel Management Center office complex in Shanghai. Designed to promote a “culture of cooperation and transparency,” the facility houses more than 300 executives and employees from the company's Corporate Communications, Purchasing, HR, and other departments. It features meeting rooms for groups of various sizes, focus rooms for individual work, and other areas for less structured interactions among employees.

"Henkel unveils its Management Center", Henkel, January 20, 2015

Hong Kong Sees Strong Ad Spend Growth In 2014

Total advertising spend in Hong Kong rose 16 percent to HK$49.9 billion in 2014, driven by increases in online and mobile campaigns, according to data from media-monitoring agency admanGo. The significant growth from the previous year's HK$43 billion confirmed the market forecasts made by the Hong Kong Advertisers Association and Nielsen in February 2014. Although banking and investment services accounted for the largest ad spending, Procter & Gamble held on to its spot as the special territory's top advertiser, data also revealed.

"Digital campaigns boost HK advertising market", South China Morning Post , January 22, 2015

India Will Overtake China To Become World's Fastest-Growing Big Economy, World Bank Says

India is expected to become the world's fastest-growing, big economy, overtaking China, in the coming two years, according to the World Bank. Driven by the Indian government's implementation of changes in the country's economic policy, growth is forecast to accelerate further in the coming years, while most of the world economy slows down. China, which has held on to the position for years, has seen its economy cool down. In contrast, India is likely to post a 7 percent growth rate in 2017, outpacing China's 6.9 percent.

"World Bank: India to Become Fastest-Growing Big Economy", The Wall Street Journal, January 14, 2015

China Resources Rebrands Tesco China Stores

China Resources Enterprises said it has rebranded all of the 135 Tesco China stores under its Vanguard brand. In 2014, China Resources acquired a majority stake in Tesco's retail operations in China. According to China Resources, the company aims to return the retail chain to profitability within three years following its move to combine the chains' backroom operations. CR Vanguard, which owns more than 4,100 stores in the country, entered into a joint venture with Tesco, which left the UK retailer with just 20 percent of the resulting business.

"Tesco China stores rebranded", Fresh Plaza, February 12, 2015

Costco Enters China Market Via Alibaba's E-commerce Door

Retailer Costco launched its business in China by opening a store on e-commerce company Alibaba's Tmall Global platform. Refusing to follow the lead of other foreign-owned retailers, which launched their brick-and-mortar retail stores in the country, Costco focused instead on online sales. During its first month of operations, the company reported $6.4 million in sales. Costco's partnership with Tmall Global offers several advantages, including the ability to operate without the need for local storage facilities and the need to secure business licenses.

"Costco Wholesale Corporation Enters China the Smart Way", Motley Fool, February 07, 2015