High-end fashion labels have hunkered down in Hong Kong since anti-government demonstrations escalated in June, hoping the turmoil would ease in one of the world's top shopping destinations.Hong Kong has long drawn numerous tourists from the Chinese mainland who pick up luxury cosmetics, accessories and clothing at slightly lower prices than at home.
Hong Kong's retail sales fell 23.6 per cent from a year earlier in November to HK$30 billion , government data showed on Friday, in the tenth consecutive month of declines. Some brands are weighing up redirecting some of their investments elsewhere, including to the Chinese mainland and other parts of Asia where many have managed to make up for lost sales in Hong Kong.
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Source: BusinessTimes - 🏆 15. / 51 Read more »