Burberry closes prominent Hong Kong flagship
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British luxury fashion house Burberry is the latest luxury brand to withdraw from Hong Kong’s famous shopping street Canton Road.
The closure of the three-storey store came after Burberry shut its prominent Russell Street flagship last year, highlighting its struggles in a market still heavily impacted by Covid-19 restrictions.
Canton Road is known as a hub for luxury brands and is home to the giant Harbour City shopping mall. The street was a common destination for Mainland tourists before the advent of Covid-19 and the closure of the border with the mainland. The Burberry Canton Road flagship opened in 2011 and was reported by WWD to have a monthly rent of US$1.12 million.
The luxury retailer currently has 10 stores across the territory.
Prior to Burberry, several luxury brands shut stores along the Canton Road retail strip due to the lack of tourists including Valentino, Tiffany & Co, and Coach. Earlier this year, Hong Kong introduced its strictest Covid-19 measures due to the spread of the Omicron variant, resulting in widespread retail and foodservice closures.
Questions & Answers
Q.What specifically caused Burberry to close its store on Canton Road?
What specifically caused Burberry to close its store on Canton Road?
The closure is attributed to Burberry's struggles in a market still heavily impacted by Covid-19 restrictions. The street was previously a common destination for Mainland tourists, but the border closure due to the pandemic affected this.
Q.Which other luxury brands have also closed stores on Canton Road recently?
Which other luxury brands have also closed stores on Canton Road recently?
Prior to Burberry's decision, several other luxury brands had already shut their stores along the Canton Road retail strip. These included Valentino, Tiffany & Co, and Coach, largely due to the lack of tourists.
Q.How many stores does Burberry still operate in Hong Kong?
How many stores does Burberry still operate in Hong Kong?
Despite the recent closures of prominent flagships, including the one on Canton Road and another on Russell Street last year, the luxury retailer currently maintains 10 stores across the entire territory of Hong Kong.
Q.When did the Burberry Canton Road flagship first open its doors?
When did the Burberry Canton Road flagship first open its doors?
The Burberry Canton Road flagship, which has now closed, had been open for a decade. It first commenced operations in 2011, making its closure in 2021/2022 significant for the brand.
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