Dairy Farm International Holdings, Hong Kongâ€™s second-biggest retailer, will increase spending on hypermarkets in Southeast Asia and its health and beauty chain in China.
Capital spending may rise about 4 percent to at least $300 million as the company builds hypermarkets in Indonesia, Malaysia and possibly Vietnam, Howard Mowlem, Dairy Farmâ€™s group financial director said last week. In China, where â€śmargins are pretty thinâ€ť for hypermarkets, the company will focus on smaller health and beauty stores, he said.
â€śHealth and beauty has proved to be one of the more resilient sectors,â€ť Mowlem said. â€śThere are some luxuries that ladies donâ€™t want to compromise on.â€ť