Property News · January 7, 2021

Relocation of top luxury brands’ regional headquarters to China likely to weigh further on Hong Kong office rents


Some luxury retailers are considering relocating their regional headquarters to China from Hong Kong to be close to their major growth market, which could add further pressure on office rents in the city, according to market observers.Brands including Versace, Salvatore Ferragamo, and LVMH-owned Bulgari, Fendi, Givenchy and Celine reduced headcounts in their Hong Kong headquarters last year and shifted more resources to mainland China, according to market sources.Beauty conglomerate L’Oréal is…

Source : South China Morning Post
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