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New Business

China shoppers swap boutiques for bargains, fuelling US$30 billion luxury resale boom

At a shopping centre in Shenzhen’s coastal business district, a store’s entrance feels more like a security checkpoint than a…

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New entrants steady Hong Kong retail property sector in absence of luxury giants

Taiwanese brand Nap Tea drew long lines when it opened its first Hong Kong store in Mong Kok in February.…

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New Business

Schiaparelli picks Hong Kong’s Landmark for first flagship Asian store

Schiaparelli, a fashion house known for its unique and surreal designs, is set to make its Asian debut with a…

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HSBC to occupy over 40,000 sq ft at Hong Kong’s Capitol Centre in 2026

HSBC is set to occupy more than 40,000 sq ft of space in Capitol Centre in Causeway Bay, as Hong…

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China’s cash-conscious consumers force Europe’s luxury giants to think small

In the Paris boutique of a Swiss luxury watchmaker, a Chinese customer anxiously discusses a credit card payment with her…

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How The Peninsula Hong Kong is trying to stay competitive against Shenzhen rivals

The Peninsula Hong Kong is focusing on luxury retail, fine dining and high-end services to attract both local and international…

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Luxury malls in Beijing, Shanghai slash rents, change tenant mix as consumer spending dips

A slowdown in Chinese consumer spending on luxury goods is affecting high-end malls in Beijing and Shanghai, with shopping centres…

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China’s high-end rental market struggles post-Covid amid dwindling expats, firms

More than two years after China’s stringent Covid-19 lockdowns triggered an exodus of international businesses and expatriates, the country’s high-end…

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Gucci, Prada close more China outlets as consumers cut luxury spending

Global luxury retailers are hastening their retreat from China by shutting stores in high-end shopping malls across major mainland cities,…

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New Business

More than half of mainland Chinese luxury consumers plan to increase spending: report

More than half of luxury consumers in mainland China plan to increase spending on such items over the next 12…

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