Enter the terms you wish to search for. The Sandro store at Fashion Walk in Causeway Bay, Hong Kong. Buccellati’s new store at Harbour City is the sixth boutique launched by kitsune bitcoin charts Milan-based jewellery powerhouse in Asia.
Luxury labels, once highly coveted by status-conscious Hongkongers, have been losing their lustre of late. The pinch of a prolonged period of sluggish sales has left a number of them scaling back on expensive prime real estate and renegotiating rents with landlords. But it’s not all doom and gloom. Other Western labels are entering the local market. The contemporary British brand opened a 1,000 sq ft flagship store in the upscale Pacific Place mall in Admiralty on March 15, after opening in the Harbour City mall in Tsim Sha Tsui in January.
Contemporary fashion chains, such as J. Crew, Sandro and Maje, began opening in Hong Kong a few years ago. Meanwhile, the city’s best known luxury retailer, Lane Crawford, invested heavily in its more affordable, younger Lab Concept platform, reflecting the shift in consumer tastes. Phase Eight both opened new stores in Pacific Place in March, and Sandro is opening in Sha Tin’s New Town Plaza this month.
American Vintage, Phase Eight and Whistles. Zagury says the company is expecting sales to grow by 65 per cent in 2017, with four more store openings and the launch of its own brand, Clemence. For businesses that are small and nimble enough to make quick changes and innovate, tough times can bring opportunity. So are we witnessing the end of retail dominance by the big luxury brands? Lesser-known retailers and contemporary brands catering to Hong Kong’s aspirational middle class and to shoppers who have become more price-conscious have taken advantage of the downturn in big brands’ fortunes. Maje and Sandro are leaders of highly scalable contemporary French fashion. Some of their Hong Kong stores top the sales charts of SMCP shops worldwide.