DFI Retail closes all Mannings stores in mainland China, says no impact on Guardian chain in S’pore
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Manning is a household brand in Hong Kong and Macau, where it has operated for more than half a century.
PHOTO: DFI RETAIL GROUP
Chloe Lim
SINGAPORE – Singapore-listed DFI Retail Group’s beauty and wellness business Mannings on Dec 17 announced the closure of all stores across mainland China, due to “consumer behaviour” changes.
The chain, which opened its first store in the mainland in 2004, is a household brand in Hong Kong and Macau, where it has operated for more than half a century. It operates as Guardian in some ASEAN countries, including Singapore.
A spokesperson said in response to queries from The Business Times that Mannings’ shuttering in China does not have an impact on Guardian’s operations in Singapore. There are over 100 Guardian stores here.
The Mannings closure in mainland China comes after DFI Retail Group in March announced the sale of all Cold Storage and Giant supermarket outlets in Singapore
Formerly known as Dairy Farm International, DFI Retail Group is based in Hong Kong with a secondary listing in Singapore. Its Singapore shares closed down 0.25 per cent, or one US cent, at US$4.05 on Dec 19.
Mannings has more than 120 stores in mainland China, and 320 outlets across Hong Kong and Macau. Its physical stores on the mainland will stay open until Jan 15, 2026, it said in a statement on its WeChat account.
It plans to integrate its Hong Kong and Macau business’ operations, namely its physical stores and e-commerce channels, with mainland China’s cross-border e-commerce model.
“Mannings will continue to put consumer needs at the core, leveraging resources from Hong Kong and South-east Asia to strengthen cross-border e-commerce capabilities and optimise both online and offline experiences,” it said.
Certain analysts said that vendors in the mainland reported an overall slump in business activity in recent times, amid weaker consumer spending, said a South China Morning Post (SCMP) report.
China’s November retail sales eased for the sixth straight month, inching up just 1.3 per cent from a year earlier, according to official data on Dec 15. It was the slowest pace since December 2022.
China’s economy has been hit by slowing consumption growth and a deepening property slump.
Rising costs and a lack of scale affect retailers too, said analysts. PwC’s China consumer markets industry leader Carrie Yu told SCMP that compared with Mannings, Watsons had a much larger presence in mainland China, with more than 3,000 stores.
“A critical mass makes a difference because in China you need to invest in your infrastructure and in your systems,” she said. THE BUSINESS TIMES
