日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Economy

Luxury brands are making way for Hello Kitty in HK malls

(Agencies) Updated: 2015-11-09 07:30

Luxury brands are making way for Hello Kitty in HK malls

Pedestrians walk past a Coach Inc store on Queen's Road in the Central district in Hong Kong. [Photo/Agencies]

In Hong Kong, fancy purses are out, sneakers are in.

The United States luxury handbag maker Coach Inc opened its four-story flagship store in the heart of Hong Kong's Central district in June 2008, with a celebrity-studded, champagne-fueled party.

In August, the company quietly terminated its HK$5.6 million ($723,000) per month lease and Adidas is moving in-paying 23 percent less in rent, according to Colliers International Group Inc. This is not an isolated case.

Russell Street in Causeway Bay, which boasted the most expensive shop rents in the world until New York's Fifth Avenue overtook it a year ago, is undergoing a major transformation.

A location formerly rented by Emperor Watch & Jewelry Ltd that sold diamond-studded Cartier watches is now home to discount cosmetics retailer company Bonjour Holdings Ltd that sells HK$58 packets of Hello Kitty false eyelashes.

Next door, rival Colourmix Cosmetics Co has moved into a space vacated by Swiss watchmaker Jaeger-LeCoultre.

As Kering SA's Gucci, LVMH's Louis Vuitton and jewelry chain Chow Tai Fook Jewelry Group Ltd bargain for lower rents or close stores amid a decline in mainland tourists who had underpinned their sales, mid-tier retailers are filling the gaps.

Brands that appeal to the broader market are taking advantage of declining leases to move into some of Hong Kong's most coveted retail locations.

"The fallout in the watch and jewelry industries, as well as luxury sector, is paving the way for fast fashion brands to expand," Tom Gaffney, head of retail at Jones Lang LaSalle Inc in Hong Kong, said.

Retail rents started falling after the city's appeal as a shopping paradise for mainland tourists was hit by a slowing mainland economy, and Beijing's austerity and anti-corruption campaigns.

This has made potential customers wary of splurging on luxury goods. Hardest hit have been sales of watches and jewelry, where sales have fallen for the past 11 months.

"Shopping habits are changing," Marcos Chan, head of research for Hong Kong, Taiwan and Macao at CBRE Group Inc, said.

"A couple of years ago it was not uncommon to see mainlanders go into watch stores and ask for 10 Rolexes. Now we hardly see people even buying one," he added.

While luxury brands are abandoning street-front locations, they are maintaining their presence in high-end malls.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: www日本黄色 | 久久99操| 天堂网av手机版 | 成人毛片在线播放 | 国产精品自拍在线 | 亚洲一区二区视频在线播放 | 欧洲精品在线观看 | 久久精品影视 | 三级毛毛片 | 国产一级淫片a | 成人xxx| www久久久com | 香蕉国产在线观看 | 天天干视频在线观看 | 日韩中文字幕在线视频 | 天天干天天操天天插 | 欧美xxxx性| 五月天色婷婷丁香 | 欧美一级黄色大片 | 国产精品九九九九九 | 国产自在线拍 | 小泽玛利亚一区二区三区视频 | 久草成人网 | 黄色一级免费视频 | 丁香六月啪啪 | 91麻豆视频网站 | 91九色中文 | 亚洲美女黄色 | 亚洲精品国产精品乱码不99 | 国产在线观看一区二区三区 | 国产一区二区久久 | 玖玖综合网 | 欧美片一区二区三区 | 日韩av手机在线免费观看 | 日韩国产欧美视频 | 免费日本黄色网址 | 免费看日产一区二区三区 | 午夜视频在线观看一区 | 国产精品毛片视频 | 亚洲精品影视 | 看黄色一级视频 |