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Luxury retailers and Hong Kong prove a good mix
By Lu Nengneng |
April 25, 2012, Wednesday
|
Online Edition
Online Edition
HONG Kong has maintained its position as the most popular global destination for luxury retailers for a third year and continued to be the Asian hub of across-border retail, an industrial report shows.
The city attracted 86 percent of luxury companies, up 2 percentage points from last year, according to the 2012 edition of How Global is the Business of Retail? Real estate adviser CB Richard Ellis issued the report.
Having surveyed 326 major international retailers across 73 countries, the latest report has identified the hottest cities for shopping. With 40.5 percent of international retailers having a presence there, Hong Kong ranked 6th globally, and first in Asia followed by Singapore. London topped the list with 55.5 percent, replacing Dubai, which is now second.
The consultant said luxury & business fashion is the most global retail sector, with 80 percent of luxury brands present across all three major global regions: the Americas, Europe Middle East and Africa (EMEA), and Asia Pacific.
They expanded 2.1 percent last year, capitalizing on strong demand from Asian consumers while suffering a market downturn in other key markets.
The city attracted 86 percent of luxury companies, up 2 percentage points from last year, according to the 2012 edition of How Global is the Business of Retail? Real estate adviser CB Richard Ellis issued the report.
Having surveyed 326 major international retailers across 73 countries, the latest report has identified the hottest cities for shopping. With 40.5 percent of international retailers having a presence there, Hong Kong ranked 6th globally, and first in Asia followed by Singapore. London topped the list with 55.5 percent, replacing Dubai, which is now second.
The consultant said luxury & business fashion is the most global retail sector, with 80 percent of luxury brands present across all three major global regions: the Americas, Europe Middle East and Africa (EMEA), and Asia Pacific.
They expanded 2.1 percent last year, capitalizing on strong demand from Asian consumers while suffering a market downturn in other key markets.
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