HONG KONG — Debate over a controversial proposal to curb the number of Mainland tourists was already tense with concerns that any cut would hurt the retail sector and put a dent in the economy. Now new figures show retailers have every reason to be concerned, especially those in the jewelry, watch and luxury goods market.
Hong Kong’s retail sector has evolved over the last decade to accommodate the cash-rich Mainland shoppers who have been arriving in increasing numbers. Of the 54 million tourists that came to Hong Kong last year, more than 40 million were from the Mainland.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)