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Carrefour to exit Chinese market

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  1. #1

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    Carrefour to exit Chinese market

    France's Carrefour takes step to exit China with Suning.com deal
    Carrefour, which has been in China since 1995, has spent years trying to fix a business where 2018 sales fell 5.9% to 4.1 billion euros ($4.66 billion) amid fierce competition from local players and a buoyant online market.
    The French retailer said in a statement it had agreed to sell 80% of its Chinese operations to Chinese group Suning.com for 620 million euros in cash.

  2. #2

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    All foreign companies come into China, invest in building up the industry, then sell at a loss. Foreign companies never learn either. The cycle repeats.


  3. #3

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    Quote Originally Posted by MandM!:
    All foreign companies come into China, invest in building up the industry, then sell at a loss. Foreign companies never learn either.
    I would mostly agree with you, but I think it depends on the industry. Nike and KFC seem to be doing fine in China though.
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  4. #4

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    Quote Originally Posted by MandM!:
    All foreign companies come into China, invest in building up the industry, then sell at a loss. Foreign companies never learn either. The cycle repeats.
    Not true. From personal experience. Didn't make much and it was a lot harder than we originally thought but we didn't make a loss. On the other hand would I encourage any one else to do business in China? No, I have actively told them not to.
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  5. #5

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    i would think this is the issue of the change in retail market, less in foreigner versus local stuffs..
    even in the states sears and the others are falling like dominoes because of the changes in shopping habits.

    MABinPengChau, bdw and JAherbert like this.

  6. #6

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    Quote Originally Posted by MandM!:
    All foreign companies come into China, invest in building up the industry, then sell at a loss. Foreign companies never learn either. The cycle repeats.
    In China people do not understand the concept of premium when you have so many China retailers

  7. #7

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    Anyway last friday brought family over to SZ and visited 万项天地, where 诚品 has a megastore there.
    To be honest, this is the first time after so many years that i actually enjoyed walked in a large mall and ended up buying useless things at premium prices attuned to the definition of 'shopping'...
    These days in hk, in singapore, even in japan, shopping has became so standardized.. that you really can just click/order/received via delivery... goods are all commoditized its no longer fun anymore.. mostly one just buy them for replacement usages.


  8. #8

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    Quote Originally Posted by freeier:
    .......even in the states sears and the others are falling like dominoes because of the changes in shopping habits.
    same in the UK, the UK high street has been losing retailers

  9. #9

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    Original Post Deleted
    Good article related to that:



    Bloomberg: The Trade War Is Exposing What Little U.S. Tech China Still Needs


    Microsoft seems to be doing very well.

  10. #10

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    Quote Originally Posted by GeoTommy:
    Microsoft seems to be doing very well.
    Only with a Chinese partner though, I think it's more of a licensing deal. All our Office365 and Azure products in our China office are billed and hosted by 21Vianet. I think they are owned by Tsinghua.