Asset-light model: Parkson in Urumqi, Xinjiang, is the group’s furthest expansion point in northwestern China. It operates 57 stores in 34 Chinese cities.
Parkson Retail Group Ltd (PRG) is diversifying its businesses in China to face challenges affecting the retail industry amid the communist state’s “new normal” of slower economic growth.
Chief financial officer Sam Au says the group, which first established its presence in China with a store in Beijing in 1994, is now actively engaging new formats as part of its transformation.
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