Sharon Lam joined Breakingviews in December 2017. Prior to joining Reuters, she completed an internship at Forbes. Sharon has also worked at Korean fund house Mirae Asset in product development and marketing, as well as HSBC private bank. She graduated from Tufts University with a bachelor's in international relations and political science, where she wrote for The Tufts Daily and edited for Hemispheres, an international relations journal.
Fosun International is floating the renowned resorts once backed by Edmond de Rothschild. Similar travel stocks imply the Club Med division should be worth about $1.7 bln. Early reports, though, peg a valuation of up to $2.8 bln, suggesting a sunny pitch about Chinese tourists.
The flat-sharing giant faces stiff competition and regulatory risk in the People’s Republic, but that doesn’t mean it should cut and run like Uber did. Partnering with a domestic incumbent could help both sides cash in on China’s travel boom.
As Nike and Adidas duke it out at the World Cup in Russia, a bigger matchup looms. China’s market for sneakers and kit is growing quickly, and local rivals like $14 bln ANTA have had a good run. Younger and richer consumers, though, could start giving foreign brands an advantage.