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Agenda-setting intelligence, analysis and advice for the global fashion community.

Can Hong Kong Reclaim Its Luxury Crown?

Fashion and jewellery brands are playing the long game in Hong Kong, investing in high-profile events and store upgrades despite an exodus of big spenders to rival shopping hubs and the city’s diminishing status as a regional gateway.
A scene near the 2023 Louis Vuitton show in Hong Kong with the brands sails on a junk boat.
A scene near the 2023 Louis Vuitton show in Hong Kong with the brand's logo emblazoned on the sails of one of the city's iconic junk boats. (Louis Vuitton)

Key insights

  • Hong Kong's dominance as a travel retail hub has been weakened by the rise of Shenzhen, Hainan and Japan which continue to attract shoppers from across China.
  • The path to recovery feels slow and uncertain despite the HK government's initiatives to revive tourism and retail through high-profile events and stimulus measures.
  • Some luxury brands are investing in flagship store expansions and high-profile events in the city but spending by Hong Kongers and non-mainland tourists has limits.

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Hong Kong’s decline as a luxury shopping hub has been at least a decade in the making. Long before the city’s retail and travel sectors were hit by

Further Reading

Why Fashion Magazines Keep Launching Hong Kong Editions

Elle and Harper’s Bazaar have long published local editions that are distinct from their mainland China titles. Now more magazines, from Vogue Man to L’Officiel, are following suit as the city’s luxury market shows signs of bouncing back.

Why Jewellers Are Still Betting on Hong Kong

After mass protests and some of the world’s toughest pandemic restrictions devastated Hong Kong’s luxury market, the city is still a vital B2B hub for the jewellery sector.

In This Article

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