Luxe Luxe Reduces Hongkong Stores And Says It Will Stick To Hongkong And China Market.

Leather goods brands in the US

(Coach) closed this week.

One of the three flagship stores is the downturn in the number of visitors to mainland China due to the economic downturn. The store is located on Queen's road in central Hongkong, where high rent and labor costs and sales slump also affect other businesses.

He said the store was officially closed in August 31st, but the company will remain strong in Hongkong and China.

In the early August, it said that the sales volume of mainland China in the fiscal year of 2015 increased by 9% to 595 million, but Hongkong and

The growth rate has slowed down.

Chief executive Victor Luis said in August 4th that "China's sales growth is mainly contributed by the mainland, because the number of mainland tourists to Hongkong and Macao continues to decline."

The company expects sales growth in China to drop to around 5% in the current fiscal year.

Chinese tourists have always been Hongkong.

The main customers in the retail industry, but the slowdown in economic growth and the recent devaluation of the renminbi have affected their desire to buy cosmetics, brand watches and so on.

The tightening of Hong Kong and Macao passport issuance and the growth of Hongkong's Anti China sentiment also led to a decline in the number of mainland tourists.

In June this year, retail sales in Hongkong recorded a decline for the fourth consecutive month.