Fashion: High-street brands replacing luxury stores in Hong Kong

(From The Strait Times)

From fast-fashion chain H&M to lifestyle brand Maison Kitsune and cosmetics firm Innisfree, mass-market retailers are setting up shop in premises previously occupied by luxury brands in Hong Kong’s prime shopping districts.

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Aided by falling rents in top locations, accessory, sport and lifestyle retailers are emerging as a new driving force of Hong Kong’s US$60-billion (S$80.4-billion) retail industry, part of a major makeover the city is going through amid a slump in retail sales.

Chow Tai Fook

“This trend will continue,” said Mr Joe Lin, executive director at property consultant CBRE. “We are going to see more mass-market brands reappear in prime locations.” Read more



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