Jun
29
Defying Tough Times, These Four Foreign Brands Are Successful in China
Posted in: Uncategorized
China can be a rough market for foreign brands these days, and this month brought a few jarring reminders of that.
Hershey had been on a roll in China, logging strong sales, opening an innovation center in Shanghai and buying a local chocolate maker, but its revenue in China dropped by nearly half in the first quarter of 2015 and was disappointing in April and May. With those troubles in mind, the company just cut its general 2015 growth target and announced layoffs for 300 employees.
In a completely different sector, luxury, Prada recently reported that net profit in the most recent quarter tumbled 44%, with blame focused on lower spending in greater China and Asia.
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