Giordano shed 1,300 staff, could reduce HK stores

Business | 11 Aug 2020 4:44 pm

Giordano International, Chairman and chief executive Peter Lau Kwok-kuen, is pessimistic about the Hong Kong retail market in the second half.

He said Giordano may reduce the number of shops in Hong Kong if the operating environment continues to be difficult.

Other regions, such as Taiwan, Korea and the mainland have recovered at a faster pace, and the group may put more resources into those countries, Lau added.

The company is moving its factories to Malaysia, Vietnam and Taiwan.

He said the group cut 1,300 staff, most of them in mainland China, as of June 30.

The clothing retailer has received around HK$8 million subsidy from the Hong Kong government.

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