The former Omega store in Russell Street, Causeway Bay, Hong Kong. Often ranked the street with the world’s highest commercial real-estate rents, it has seen an exodus of global luxury brands accelerate. Photo: Vincenzo La Torre
The former Omega store in Russell Street, Causeway Bay, Hong Kong. Often ranked the street with the world’s highest commercial real-estate rents, it has seen an exodus of global luxury brands accelerate. Photo: Vincenzo La Torre

Luxury stores exit Russell Street, Hong Kong, once the world’s priciest retail strip, amid tourist slump over Covid-19 and protests

  • With tourism drying up thanks to anti-government protests and Covid-19, luxury brands Rolex, Omega, La Perla and Kiehl’s have shut stores in Causeway Bay street
  • Vacancy rates are at a record high, and more luxury stores could shut if mass-market or discount stores occupy the pricey premises the top brands vacated

The former Omega store in Russell Street, Causeway Bay, Hong Kong. Often ranked the street with the world’s highest commercial real-estate rents, it has seen an exodus of global luxury brands accelerate. Photo: Vincenzo La Torre
The former Omega store in Russell Street, Causeway Bay, Hong Kong. Often ranked the street with the world’s highest commercial real-estate rents, it has seen an exodus of global luxury brands accelerate. Photo: Vincenzo La Torre
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