CHICAGO—Asian retailers increasingly want theworld to see them as global players, and in order to reach thatmilestone, many have come to the conclusion that they need outletson the West Coast. Establishing themselves there,however, may take some time, since Asian business owners remaincautious and want to make sure they fully understand local marketconditions in the US before taking the plunge.
“They want to be there because the West Coast, especiallyLos Angeles, San Diego andSan Francisco, have a very strong retail scene,”Thomas Gaffney, the Hong Kong-based head of retailfor JLL, tells GlobeSt.com. However, the WestCoast only forms one part of an American strategy, since at thesame time most of these retailers also believe it's important toestablish outposts in other core US cities such as NewYork and perhaps Chicago.
Chow Tai Fook Enterprises, Ltd., he points out,owns one of the biggest jewelry retailers in the world, but outsideof Asia, where the Hong Kong-based company hasthousands of outlets, “not many people have heard ofthem.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
