Hong Kong’s stores could use some Chinese medicine

Giordano International

11/12/2019 02:53

(The author is a Reuters Breakingviews columnist. The opinions
expressed are her own.)
    By Sharon Lam
    HONG KONG, Dec 11 (Reuters Breakingviews) - Cosmetics chain
Sa Sa has lost some 40% of its value this year. Months of
protests have exposed existing ills, not least a reliance on
Chinese visitors. With the economy ailing and tourists staying
away, high-street retailers will have to find shoppers in the
mainland and beyond.
    Full view will be published shortly.
    On Twitter https://twitter.com/sharonlamhk
    
    CONTEXT NEWS
    - Hong Kong-listed cosmetics retailer Sa Sa International on
Dec. 2 announced that it would close its retail stores in
Singapore, where it has had losses for six consecutive years. It
will concentrate its resources on Hong Kong, Macau, mainland
China and Malaysia, as well as on its e-commerce business.     
    - A survey conducted by the Hong Kong Retail Management
Association and released on Dec. 9 found that some 7,000
licensed retail establishments, out of 64,000 in the territory,
said they would close down in the next six months. 
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Sasa announcement    https://www1.hkexnews.hk/listedco/listconews/sehk/2019/1202/2019120201345.pdf
Hong Kong cosmetics chain Sa Sa's August sales hit by protests  
  urn:newsml:reuters.com:*:nL3N2692DE
BREAKINGVIEWS – Worst of Hong Kong’s bling pain is yet to come  
   urn:newsml:reuters.com:*:nL1N27900N
BREAKINGVIEWS - Hong Kong’s jittery shoppers are a bad omen   
 urn:newsml:reuters.com:*:nL3N25T0C9
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by Clara Ferreira Marques and Katrina Hamlin)
 ((sharon.lam@thomsonreuters.com; Reuters Messaging:
sharon.lam.thomsonreuters.com@reuters.net))