LVMH to shut Hong Kong store amid protests

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12-Jan-2020

Louis Vuitton is closing a major store in a high-end Hong Kong shopping centre often targeted by democracy protesters, local media reported. The international retailer plans to shut its shop in the financial hub’s Times Square mall after its landlord, Wharf Real Estate Investment Corporation, refused to lower the rent, according to the South China Morning Post’s report. The store in the commercial heartland of Causeway Bay — one of the brand’s eight shopfronts in the city — occupies 10,000 square feet of prime second-floor space in the mall. Monthly rent reportedly costs an estimated HK$5 million ($642,000) according to industry consultants.

 

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