17 October 2018

Consumer & Gaming

  • co-founder and CEO Danny Shum said the company has over 200,000 users who spend HK$580 per order on average. Photo: HKEJ

    Online supermarket secures US$8 mln Series B funding

    - Oct 16, 2018 1:22pm, a Hong Kong-based e-commerce startup selling groceries and home essentials, has completed an US$8 million Series B funding, led by Welight Capital and joined by Kwai Hung Group. Founded in 2015, mainly offers local...
  • Sears filed for Chapter 11 bankruptcy protection in White Plains, New York on Monday. Photo: Reuters

    Bankruptcy judge approves financing to keep Sears open

    Oct 16, 2018 10:14am
    A bankruptcy judge approved US$300 million in financing to keep department store chain Sears Holdings Corp. open through the holiday season, giving the century-old retailer that once dominated US shopping malls a chance to remain in...
  • Sears is scrambling to secure financing for its expected bankruptcy, and has been unsuccessful so far, sources said. Photo: Reuters

    Sears skips payments to vendors amid bankruptcy concerns

    Oct 12, 2018 8:28am
    Sears Holdings Corp. has started to miss payments to vendors, adding to concerns about its future after sources said the US department store operator was preparing to file for bankruptcy in the coming days, Reuters reports....
  • Under the General Data Protection Regulation, EU regulators have the power to impose fines of up to 4 percent of global revenue or 20 million euros (US$23 million), whichever is higher, for violations. Photo: Reuters

    First round of fines under new EU privacy law seen by year-end

    Oct 10, 2018 8:45am
    European regulators are set to exercise their new powers by handing out fines and even temporary bans on companies that breach a new EU privacy law, with the first round of sanctions expected by the end...
  • Barnes & Noble has been struggling with declining sales for years as consumers increasingly move online. Photo: Reuters

    Barnes & Noble opts for strategic review after takeover interest

    Oct 4, 2018 9:18am
    Barnes & Noble Inc. said on Wednesday it would explore strategic options after several parties, including founder-chairman Leonard Riggio, showed interest to buy the bookseller, sending its shares up as much as 24 percent in extended...
  • Starbucks has positioned itself to play a major role in upending not just how payments are made but also the business model of established banks. Photo: AFP

    The First Bank of Starbucks

    - Oct 3, 2018 8:31am
    On August 3, Starbucks made an announcement which, though little noticed at the time, amounts to a potentially massive shift in the organization of finance. How did an international chain of coffee shops position itself to...
  • Maintaining a good relationship with teammates is important for e-sports players to win audience support. Photo: Hong Kong Esports

    Asian Games glory boosts Hong Kong e-sports

    - Sep 28, 2018 1:23pm
    Hearthstone, a turn-based card game played online, gave Hong Kong its first-ever e-sports medal at the 2018 Asian Games in Jakarta. Hong Kong’s Lo Tsz-kin won the gold medal in the event, helping burnish Hong Kong’s...
  • Amazon is opening a general merchandise store in New York City that will stock bestsellers and top-rated products. Photo: Reuters

    Amazon opening new physical NYC store featuring top-rated goods

    Sep 27, 2018 9:21am
    Amazon is opening a general merchandise store in New York City that will sell toys, household goods and a range of other products highly rated on its website, marking the e-commerce giant’s latest push into brick-and-mortar...
  • Dalian Wanda chairman Wang Jianlin (second from right) and FIFA representatives attend an event announcing the strategic partnership between the Chinese group and FIFA. Photo: Reuters

    Sports sponsorship becomes a weapon of mass disruption

    - Sep 26, 2018 2:27pm
    Sports sponsorship has long been a commercial battlefield, and a global arms race has emerged over recent decades. Corporations from across the world have spent ever-increasing sums of money on the right to be associated with...
  • Macau and Hong Kong will be crowded with mainland visitors during the National Day Golden Week. Photo: Bloomberg/Xinhua

    Macau and Hong Kong prepare for huge influx of mainland visitors

    - Sep 26, 2018 1:25pm
    Here’s a friendly advice: If you’re thinking of spending your National Day holiday in Macau but haven’t booked a hotel room yet, better change your plans. Despite a delay in the opening of the Hong Kong-Zhuhai-Macau...
  • Following months of field trials, Dunkin Brands is dropping the word 'Donuts' from the restaurant chain's branding and logo. Photo: Reuters

    Dunkin’ drops ‘Donuts’ in rebranding move

    Sep 26, 2018 9:20am
    Dunkin’ Donuts is dropping the word “Donuts” from its name and rebranding itself as “Dunkin” in an effort to bring beverages and breakfast meals to the forefront of the restaurant chain’s menu. “The new branding conveys...
  • Artistic director Donatella Versace will “continue to lead the company’s creative vision”. Photo: Reuters

    Michael Kors acquires Versace for US$2.2 billion

    Sep 26, 2018 8:39am
    Michael Kors agreed to buy luxury designer Versace for 1.83 billion euros (US$2.15 billion) including debt as the US fashion group positions itself to take on larger European rivals, Reuters reports. Michael Kors, whose namesake label...
  • Amazon wants to open the cashierless stores in dense urban areas with mostly young and affluent residents who are willing to spend a little more for better quality food. Photo: Reuters

    Amazon eyes up to 3,000 cashierless stores by 2021: report

    Sep 20, 2018 10:05am Inc. is considering opening as many as 3,000 AmazonGo cashierless stores in the next few years, Bloomberg reports, citing people familiar with the matter. The plan, if executed, would make Amazon Go one of the biggest...
  • Hotpot chain Haidilao will use the IPO proceeds to expand its business, including forays into new overseas markets. Photo: Reuters

    Haidilao prices IPO at top end, raising nearly US$1 bln: report

    Sep 19, 2018 9:53am
    Chinese hotpot chain Haidilao raised nearly US$1 billion in its Hong Kong initial public offering by pricing its shares at the top of an indicated range, Reuters reports, citing people familiar with the matter. Haidilao sold...
  • Philip Schiller, Senior Vice President, Worldwide Marketing of Apple, speaks about the new iPhone XR at Apple’s product launch event in Cupertino, California, on September 12. Photo: Reuters

    Why XR may fare better than Apple’s other new iPhones

    - Sep 18, 2018 2:45pm
    With Apple unveiling its latest smartphones at its annual product event last week, we can now pose this question: of the three new iPhones, which will emerge as the bigger winner in the marketplace? Before we...
  • Skiing equipment brand Atomic is one of the major brands in Amer Sports’ portfolio. Photo: Amer Sports

    Anta seeks to acquire Amer Sports: Is that a good idea?

    - Sep 14, 2018 5:06pm
    China’s Anta Sports (02020.HK) is offering to buy Finnish sports equipment maker Amer Sports Corp. for 4.6 billion euros (US$5.39 billion). Most Chinese media described Amer as the maker of Wilson tennis rackets, a famous brand...
  • Meituan Dianping, which now has over 290 million active users, reported 5.8 billion transactions and a revenue of 33.9 billion yuan (US$4.95 billion) last year. But it has yet to turn a profit. Photo: China Daily

    Why is this food delivery startup worth so much?

    - Sep 14, 2018 8:57am
    Hong Kong’s equity market has been going through a rough patch lately. The initial public offering of Meituan Dianping (03690.HK), an online food delivery service platform, did not see as much demand from retail investors as...
  • Chinese billionaire Wang Jianlin is reported to be planning to cut his group's stake in AMC Entertainment. Photo: Reuters

    Dalian Wanda said to be looking to trim AMC stake

    Sep 6, 2018 9:34am
    China’s Dalian Wanda Group is exploring a deal to cut its stake in US-based global movie theater operator AMC Entertainment Holdings, Reuters reports, citing sources familiar with the matter. Wanda is considering a deal in which...
  • Haidilao’s rumored valuation makes it much more expensive than other restaurant stocks in Hong Kong, and even higher than those of some internet plays. Photo: Haidilao

    Sichuan hotpot chain’s IPO valuation looks expensive

    - Sep 5, 2018 4:23pm
    Xiabu Xiabu Catering Management Co. (00520.HK) has been by far the most expensive restaurant stock in the Hong Kong market. The firm has a market capitalization of HK$13.2 billion, equivalent to a price-earnings (P/E) multiple of 26....
  • The US$5.1 billion Costa deal is Coca-Cola's first attempt to expand into the coffee business. Photo: Bloomberg

    How UK coffee chain Costa fits into Coca-Cola business

    - Sep 4, 2018 7:58am
    Coca-Cola has announced a deal worth US$5.1 billion to acquire British coffee chain Costa coffee, marking the first attempt by the world’s largest beverage company to expand into the coffee business. Coca Cola has a history...

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