Luxury brands may close some stores in China  

奢侈品去年在华销售大跌50% 多品牌暂停开设新店

中国的反腐浪潮使得奢侈品牌在中国市场遭遇寒流。继2013年各大奢侈品牌在中国市场销售额下降之后，2014年国内奢侈品市场并没有回暖迹象，随着反腐浪潮的深入，奢侈品行业库存增加、客流减少的迹象愈发严重。多个奢侈品牌均表示将暂停在中国开设新店，世界奢侈品协会预测大多数奢侈品牌今年在中国二三线城市将有部分门店关闭。[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.