Luxury brands may close some stores in China  

奢侈品去年在華銷售大跌50% 多品牌暫停開設新店

中國的反腐浪潮使得奢侈品牌在中國市場遭遇寒流。繼2013年各大奢侈品牌在中國市場銷售額下降之后，2014年國內奢侈品市場并沒有回暖跡象，隨著反腐浪潮的深入，奢侈品行業庫存增加、客流減少的跡象愈發嚴重。多個奢侈品牌均表示將暫停在中國開設新店，世界奢侈品協會預測大多數奢侈品牌今年在中國二三線城市將有部分門店關閉。[查看全文]

(ECNS) -- Luxury brands may hold back from expanding in China amid the Chinese government's rigid crackdown on extravagance, the Beijing Morning Post said, citing the World Luxury Association.

A financial report by the association showed brands that saw 30 percent increases in sales in 2012 experienced a big drop in 2013, more than 50 percent, as officials were banned from splurging on luxury goods.

Sales of wristwatches were down 95.9 percent overall, and me's clothing, down 60 percent.

The association found many luxury brand stores in Beijing, Shanghai, Chongqing and Shenzhen have high levels of inventory.

Promotions launched for Spring Festival didn't attract customers, and stores of LV and Hermès in some cities saw no customers at all during the holiday.

In 2013, Giorgio Armani and Dolce & Gabbana closed their flagship stores in Shanghai.

The association predicted that most luxury brands will close their stores in second- and third-tier cities, and some have said they won't open new stores in China this year.