Hong Kong’s protest-battered stores could use an overseas remedy. Sa Sa has lost more than 40% of its market value this year, making the cosmetics chain a prominent retail casualty. There has never been a better time to venture elsewhere. sharonlamhk
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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