Property News · October 4, 2016

Mid-priced brands cash in on falling Hong Kong rents at expense of luxury retailers


Hong Kong may no longer be the darling of European luxury brands after the combined effect of a slower local economy and fewer mainland shoppers as a result of Beijing’s anti-corruption crack down, but the city is still magnet for less expensive luxury brands and mid-priced retailers.
Retail sales have seen an 18 month-long nosedive, with August figures (the latest available) down 10.5 per cent year on year to HK$33.9 billion.
The decline, largely due to a drop in the number of mainland…

Source : South China Morning Post
Read more…Mid-priced brands cash in on falling Hong Kong rents at expense of luxury retailers

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