China's Luxury Brands Break Into Hong Kong
" As Kering SA’s Gucci, LVMH and Coach Inc. bargain for lower rents or plan store closures amid a decline in mainland tourists, China’s own luxury chains are filling the gaps, boosting their image and tapping international buyers...
It’s "a form of marketing," said Tom Gaffney, head of retail at property agent Jones Lang LaSalle Inc. Chinese tourists view a mainland brand with a store in Hong Kong or overseas as having better quality. They carry the perception home and remain loyal customers even back in China, he said...
China’s luxury retailers still have some catching up to do to match the cachet and reach of big global brands..."
Read the full article at Business of Fashion.
Image Credit: Asia's Next Top Model