Retail

The Haoxianglai parent has not sacrificed margins to pursue scale.

Heavy investment in emerging segments weighs on the group’s profitability.

The German sneaker maker sank to a record loss in 2025.

Nestle will retain part of the business while allowing Luckin to leverage Blue Bottle’s brand.

The gap between the two players is narrowing, particularly in Vietnam, where TikTok Shop now commands more than 40% of the market.

Rapid expansion and rising delivery volumes lifted revenue, even as store-level profitability declined.

The founder reflects on a “dreamlike” 2025 for Pop Mart.

Slow domestic growth and robust regional demand drive their expansion strategies.