Louis Vuitton’s store in Shanghai. The French luxury retailer has closed outlets in Harbin, Urumqi and now Guangzhou, while opening a new one in Hangzhuo. Photo: Bloomberg.
Just why are Louis Vuitton and other high-end retailers abandoning China?
After a decade of aggressive expansion in China, international luxury brands shrink their physical presence and branch out into restaurants, cafes and even beauty salons
Topic |
Focus
Louis Vuitton’s store in Shanghai. The French luxury retailer has closed outlets in Harbin, Urumqi and now Guangzhou, while opening a new one in Hangzhuo. Photo: Bloomberg.