It Is Hongkong That Has Brought Down The Overall Performance Of Rui Table Export.

For luxury brands, 2015 marks the easiest time to make money in this market.

More or less, thanks to the Hongkong market, the Hongkong market, which is extremely depressed, has tripped many luxury brands and injured them badly.

Hongkong is the largest Swiss watch import market in the world.

Imports reached a record 426 million 100 thousand Swiss Franc last October, but since then, retail sales have been in trouble, and imports from Switzerland have also been stagnant or even falling month by month.

In August this year, Hongkong retail market was weak and rents were high. The TAG Heuer, a luxury watch group in France, announced its closure of Russell street in Tongluowan, Hongkong.

Tiger's decision seems to be the first Domino in Hongkong's Asian luxury center.

Then, in the early September, the US luxury brand Coach (Coach) also closed a flagship store at the junction of Queen's road and de Chi lap street.

It is understood that because of the situation of being unable to make ends meet, the decision to withdraw the store ahead of time is the first major brand to withdraw from the Hongkong market.

According to Swiss watch export statistics released by the Swiss watch and handcraft Federation (FSWI) from January 2015 to November, in addition to the 5.4% increase in the largest export market for Rui watches in January, Hongkong recorded a double-digit drop in other months. May, July and October recorded a high decline of 33.6%, 39.6% and 38.5% respectively.

The largest market.

Coach opened its first global competition in central in 2008.

The total area is 13000 square, three storey, at that time the rent was only HK $2 million 600 thousand, and the lease was four years.

In 2012, the brand renewed the rent for 5 years, the rent was HK $5 million 600 thousand, plus the external wall advertising rent of HK $1 million 600 thousand, a total of HK $7 million 200 thousand, a 1.8 fold increase, almost three times the price.

On the one hand, the Hongkong market is in bad condition, and it also faces expensive rent pressure, which makes Coach have to withdraw shop ahead of schedule.

In November,

(Burberry) also announced an agreement with Swire real estate to cut the area of the brand's flagship store in Pacific Place and close the second storeys of the flagship.

It is understood that Taigu Plaza is currently the most dismal representative of high-end department stores in Hongkong. In the three quarter, the retail sales of the mall dropped 13.7%, which is even more serious than the 12.7% decline in the first half.

To reduce the size of the central flagship store, Carol Fairweather, chief financial officer of the Boli group, said it would increase the sales and profitability of the unit. He also stressed that the 17 brands of British brands located in the Hongkong market were all profitable, and that the sales in the three quarter had improved. However, he admits that they are still facing challenges and are talking about rents with property.