has lost money for 6 consecutive years, Sasa International announced its withdrawal from the Singapore market
On December 2, Sasa International Holdings Co., Ltd. issued an announcement and decided to close all 22 retail stores in the Singapore market. The key reason is that Sasa International has not performed well in this market for many years: in the past six consecutive financial years, Sasa International Singapore market has been at a loss. For the six months ended September 30, 2019, Sasa International's 's turnover in the Singapore market was 99.4 million Hong Kong dollars, a year-on-year decrease of 4.6% in local currencies. For the six months ended September 30, 2019, sales of HK$99.4 million from the Singapore business accounted for only 2.8% of 's total sales.
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Hong Kong’s October retail sales plummeted by more than 24%, while drugs and cosmetics fell by 33.5%
On December 2, the Hong Kong Special Administrative Region Census and Statistics Department announced that the provisional estimate of Hong Kong’s October retail sales was 30.1 billion. The Hong Kong dollar, a year-on-year decrease of 24.3%, has fallen for 9 consecutive months and is the largest drop in history. The number of inbound tourists has dropped 43.7% year-on-year to 3.31 million. During the period, drugs and cosmetics fell by 33.5%, and department store sales fell by 31.1%, mainly due to the continued deterioration of the retail environment.
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Amore launches its first professional beauty product Holitual, 5 SKU
have been launched. Recently, Amorepacific launched its first professional beauty brand Holitual. According to the official website, Holitual has launched 5 SKUs, including two-step renewing essence, multi-lifting massage essence, comprehensive anti-aging cream, powdery cleansing mask, and day and night vitamin ampoules. It is reported that the product has officially entered South Korean professional cinema channels and mass market channels at the end of November.
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fell 14.3%! South Korea’s exports fell for the 12th consecutive month in November
On December 1, the Ministry of Trade, Industry and Energy released data showing that in November, South Korea’s exports fell for the 12th consecutive month, and the decline was far greater than expected. In November, South Korea’s export value was 44.1 billion U.S. dollars (approximately RMB 311.2 billion), a year-on-year decrease of 14.3%. The monthly export value decreased year-on-year after June 2019 (-13.8%) and remained in double digits for six consecutive months. . In the same period, South Korea’s imports fell by 13% year-on-year to US$40.73 billion (approximately RMB 287.2 billion), which has maintained negative growth since May.
