国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Companies

High rent to bite foreign firms in China

peopledaily.com.cn | Updated: 2013-07-05 13:42

High rent to bite foreign firms in China

Starbucks closed its first coffee shop in Chinese mainland in late June. [Photo/china news.com]

In January 1999 when café was still a new fashion in Beijing, Starbucks chose the China World Shopping Mall at the heart of Beijing's central business district to open its first store in Chinese mainland.

However, 14 years later, the American coffee company had to move out the shopping center in late June and the vacancy left by Starbucks is going to be filled by French luxury trunk maker Goyard.

Although Starbucks said a new store would be open nearby and the new location is much better, insiders agreed that the fast growing rent is the key factor to drive it out.

It's estimated that Starbucks has to pay more than 7 million yuan ($1.14 million) annually to maintain the business in China World Shopping Mall, mostly for the rent and labor cost, while the average annual turnover of Starbucks' stores in Asian market was 5 million yuan in 2012.

Starbucks is not the only one that is running away in face of the skyrocketing business cost. Foreign retailers, restaurants and department stores have to close or relocate their shops to offset the double pressure of shrinking profit and rising rent in Chinese market.

The retail giant Wall-Mart shut down three Chinese stores in April, increasing the number of closed shops to six over the past three years. One month later, British retailer Tesco ended the business of a 10-year-old store in Shanghai's Zhenning Road because the lease contract ran out.

It's noteworthy that the locations abandoned by foreign multinationals were almost in first-tier cities where their Chinese story began. High rent is expected to hit more Starbucks shops in Beijing and Shanghai.

After closing the Zhenning store, Tesco said it would continue to seek chance to open new store in Shanghai or in other Chinese cities. But analysts said these foreign companies would look beyond big cities and pin hope on second and third-tired Chinese cities for further expansion.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
双峰县| 吉安市| 无棣县| 郸城县| 安溪县| 梅河口市| 开鲁县| 侯马市| 若羌县| 聂拉木县| 德格县| 山东省| 西乌| 平果县| 连江县| 花莲市| 虞城县| 军事| 株洲县| 定州市| 延津县| 保定市| 吉首市| 云林县| 万安县| 镇雄县| 阿巴嘎旗| 上林县| 莫力| 宿州市| 喜德县| 门头沟区| 德州市| 延川县| 镶黄旗| 南澳县| 榆林市| 顺平县| 屏南县| 瓮安县| 桓仁|