Why LVMH is moving out of Hong Kong to mainland China: instead of going on holiday, Chinese consumers are shopping more luxury fashion brands at home
LVMH is shifting resources out of Hong Kong, reflecting waning interest in what used to be Asia’s premium shopping hub as mainland Chinese consumers switch to shopping at home. The top global luxury conglomerate wants to focus more of its investment in burgeoning metropolises such as Shanghai, Chengdu, Guangzhou and Shenzhen as Hong Kong loses…