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 TorreThe 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

Topic |   Coronavirus pandemic
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 TorreThe 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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