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
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.
