New trendy on Chinese social media today, boycotting, burning and ripping off H&M, Nike, Adidas over their Xinjiang remarks
- Thread starter beijingwalker
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Right, better than western boot lickers.
Metal 0-1
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I feel ya dawgRight, better than western boot lickers.
xinjiang forced labor statement from those brands and BCI now all magically disappear from their websites.
better cotton initiative (BCI) now says they found no evidence of forced labor in xinjiang.
but those brands made 'em statement based on BCI info.
bunch of liars.
BCI is ngo funded by USAID (cia)
this sh1t is getting funnier.
well done china! you hurt 'em good.
damage control mode now..
finance.yahoo.com
better cotton initiative (BCI) now says they found no evidence of forced labor in xinjiang.
but those brands made 'em statement based on BCI info.
bunch of liars.
BCI is ngo funded by USAID (cia)
this sh1t is getting funnier.
well done china! you hurt 'em good.
damage control mode now..
China branch of Better Cotton Initiative trade body says it has not found forced labor in Xinjiang
The China branch of the cotton trade body Better Cotton Initiative said on Friday it has not found forced labour related to cotton production in Xinjiang. The branch added that it will continue communication with its Chinese partners in Xinjiang.
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beijingwalker
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What Would a little Uygur girl talk about Xinjiang Uygur forced labor and Boycotting Xinjiang cotton
masterchief_mirza
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Good work by Chinese youth. Enough of being pushed around by these pretentious western propaganda peddling shills.
beijingwalker
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Chinese customers can wreck havoc to any global companies, those western brands will pay dearly for their stupid mistake.
comci
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Hmm those brands will feel the heat. They might share Lotte's fate
South Korea's Lotte seeks to exit China after investing $9.6 billion, as Thaad fallout ensues
A Lotte Department Store in Seoul. Lotte Department Store, one of Lotte Group major businesses in China, saw an operating loss of 140 billion won (S$167.6 million) from 2016 to 2018.ST PHOTO: AKSHITA NANDA
SEOUL (THE KOREA HERALD/ASIA NEWS NETWORK) - Despite its hefty investments in China over the years, South Korea's Lotte Group appears to be seeking a complete departure from the market that was once highly lucrative, after failing to recover from a boycott campaign which was instigated by diplomatic bickering between Seoul and Beijing.
The retail conglomerate was the main target of the diplomatic feud between China and South Korea over the deployment of an anti-missile Terminal High Altitude Area Defence (Thaad) system in 2017 on its golf course at the Lotte Skyhill Country Club in Seongju county.
On Wednesday (March 13), Lotte said it plans to sell its food production facilities in China as losses have piled up.
Lotte Confectionery and Lotte Chilsung Beverage's four out of six factories in Beijing, Qingdao, Henan and Qingbai will close down in the first quarter of 2019, the company said.
This comes less than a year after Lotte's supermarket chain Lotte Mart announced the complete exit of its 112 stores from China after operating for 11 years.
Despite some signs of thawing last year, Lotte continued to face hardships amid already worsened public sentiments, increased competitiveness of local brands and the popularity of e-commerce.
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Since entering the Chinese market with Lotte Mart stores in 2004, the group has invested 8 trillion won (S$9.6 billion) to operate its 22 affiliates spanning from retail and food to tourism.
Related Story
Lotte considers selling China malls amid anti-Korean sentiment
Related Story
Chinese tourists trickling back to South Korea, but experts say time is needed to rebuild trust
Lotte Department Store, one of the group's major business in China, saw an operating loss of 140 billion won from 2016 to 2018.
Lotte Mart's 2017 financial report showed that its loss in China reached 268 billion won and its combined loss from the second half of 2016 came at nearly 1 trillion won.
The company cited the boycott of Korean products by Chinese shoppers over the Thaad missile system controversy as the main reason for the losses.
Lotte will also close down its department store in Tianjin later this month, only leaving three Lotte Department Stores across the country in Weihai, Chengdu and Shenyang.
In 2008, Lotte Department Store entered the Chinese market by forming a joint venture with a local department store. Its first store opened in Beijing and expanded business by opening more outlets in major cities including Tianjin.
Market insiders cited the competitiveness of Chinese brands for Lotte's weak performance.
"When you look at Chinese products these days, for example, cosmetics from local brands, they are relatively high quality products and sold at a cheap price. Unlike in the past when Chinese consumers only preferred Korean or overseas brands, the consumers now enjoy choosing from various options including local brands," said an industry insider surnamed Kang, who has worked at a Chinese beauty company for three years.
Experts also noted that the business slump in China for South Korean companies has been expedited by Chinese consumers' active use of e-commerce sites.
"China's e-commerce landscape has evolved rapidly as millions of consumers are turning to quick, easy and convenient shopping platforms, largely driven by the middle and lower middle class. The bulk of e-commerce shoppers are and will continue to be the most significant shopping group in China," said Lee Jung-hee, economic professor at ChungAng University in Seoul.
www.straitstimes.com
South Korea's Lotte seeks to exit China after investing $9.6 billion, as Thaad fallout ensues
- Published
Mar 13, 2019, 6:11 pm SGT
SEOUL (THE KOREA HERALD/ASIA NEWS NETWORK) - Despite its hefty investments in China over the years, South Korea's Lotte Group appears to be seeking a complete departure from the market that was once highly lucrative, after failing to recover from a boycott campaign which was instigated by diplomatic bickering between Seoul and Beijing.
The retail conglomerate was the main target of the diplomatic feud between China and South Korea over the deployment of an anti-missile Terminal High Altitude Area Defence (Thaad) system in 2017 on its golf course at the Lotte Skyhill Country Club in Seongju county.
On Wednesday (March 13), Lotte said it plans to sell its food production facilities in China as losses have piled up.
Lotte Confectionery and Lotte Chilsung Beverage's four out of six factories in Beijing, Qingdao, Henan and Qingbai will close down in the first quarter of 2019, the company said.
This comes less than a year after Lotte's supermarket chain Lotte Mart announced the complete exit of its 112 stores from China after operating for 11 years.
Despite some signs of thawing last year, Lotte continued to face hardships amid already worsened public sentiments, increased competitiveness of local brands and the popularity of e-commerce.
Get exclusive insights into Asia
ST Asian Insider newsletter helps you stay ahead of developments in the fast-changing region
Sign up
By signing up, you agree to our Privacy Policy and Terms and Conditions.
Since entering the Chinese market with Lotte Mart stores in 2004, the group has invested 8 trillion won (S$9.6 billion) to operate its 22 affiliates spanning from retail and food to tourism.
Related Story
Lotte considers selling China malls amid anti-Korean sentiment
Related Story
Chinese tourists trickling back to South Korea, but experts say time is needed to rebuild trust
Lotte Department Store, one of the group's major business in China, saw an operating loss of 140 billion won from 2016 to 2018.
Lotte Mart's 2017 financial report showed that its loss in China reached 268 billion won and its combined loss from the second half of 2016 came at nearly 1 trillion won.
The company cited the boycott of Korean products by Chinese shoppers over the Thaad missile system controversy as the main reason for the losses.
Lotte will also close down its department store in Tianjin later this month, only leaving three Lotte Department Stores across the country in Weihai, Chengdu and Shenyang.
In 2008, Lotte Department Store entered the Chinese market by forming a joint venture with a local department store. Its first store opened in Beijing and expanded business by opening more outlets in major cities including Tianjin.
Market insiders cited the competitiveness of Chinese brands for Lotte's weak performance.
"When you look at Chinese products these days, for example, cosmetics from local brands, they are relatively high quality products and sold at a cheap price. Unlike in the past when Chinese consumers only preferred Korean or overseas brands, the consumers now enjoy choosing from various options including local brands," said an industry insider surnamed Kang, who has worked at a Chinese beauty company for three years.
Experts also noted that the business slump in China for South Korean companies has been expedited by Chinese consumers' active use of e-commerce sites.
"China's e-commerce landscape has evolved rapidly as millions of consumers are turning to quick, easy and convenient shopping platforms, largely driven by the middle and lower middle class. The bulk of e-commerce shoppers are and will continue to be the most significant shopping group in China," said Lee Jung-hee, economic professor at ChungAng University in Seoul.
South Korea's Lotte seeks to exit China after investing $9.6 billion, as Thaad fallout ensues
SEOUL (THE KOREA HERALD/ASIA NEWS NETWORK) - Despite its hefty investments in China over the years, South Korea's Lotte Group appears to be seeking a complete departure from the market that was once highly lucrative, after failing to recover from a boycott campaign which was instigated by...
That Guy
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Consumers are the same everywhere you go. By this time next month, Nike and H&M sales will either recover, or they'll announce increased profits due to the controversy surrounding them.
Either way, I tend to buy local brands whenever possible. I don't care much about US and Chinese products.
Either way, I tend to buy local brands whenever possible. I don't care much about US and Chinese products.
comci
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I got the feeling it is the China's government strategy to kick those foreign brand and promote China's brands instead. China just need the right excuse. They found one with the sanctions flying over. How do you explained H&M last year statement being put forward suddenly by China if not to ban the brand forever and teach EU member a lesson?
CAPRICORN-88
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it is not a trend.
Although the West once again try to blame Chinese government but they have done nothing.
It is in fact initiated by irrated Chinese netizens out of patriotism.
To them it is imperialism.
They draw a parallel of events in 19th Century by the 8 Western Powers.
Although the West once again try to blame Chinese government but they have done nothing.
It is in fact initiated by irrated Chinese netizens out of patriotism.
To them it is imperialism.
They draw a parallel of events in 19th Century by the 8 Western Powers.
doesn't work for d&g
How Dolce & Gabbana Lost 98% of Their Chinese Market With One Video - NewsBreak
Dolce & Gabbana is one of the most famous fashion brands in the world. Their clothes have been worn by some of the most recognisable stars on the planet such as Beyoncé, Kylie Minogue, and Madonna.
Dolce&Gabbana seeks over $600M damages from 2 US bloggers
MILAN (AP) — The Milan fashion house Dolce&Gabbana has filed a defamation suit in an Italian court seeking over $600 million in damages from two U.S. fashion bloggers who reposted anti-Asian co…
wreg.com
Ahmet Pasha
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Probably knock offs anyway
That Guy
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You say that, but do we know what their revenue and profits were a few months after?doesn't work for d&g
How Dolce & Gabbana Lost 98% of Their Chinese Market With One Video - NewsBreak
Dolce & Gabbana is one of the most famous fashion brands in the world. Their clothes have been worn by some of the most recognisable stars on the planet such as Beyoncé, Kylie Minogue, and Madonna.www.newsbreak.com
Dolce&Gabbana seeks over $600M damages from 2 US bloggers
MILAN (AP) — The Milan fashion house Dolce&Gabbana has filed a defamation suit in an Italian court seeking over $600 million in damages from two U.S. fashion bloggers who reposted anti-Asian co…
In general terms, consumers tend to have short term memories, so i wouldn't expect a boycott to last for too long.
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