Accessories makers are beginning to move out of China due to labor costs and quality issues.
The profits were the company’s highest since it listed on the Hong Kong Stock Exchange in 2010.
Realtors predict the city’s rents will bottom out in the second half.
The number of exhibitors increased by 7 percent and visitor count swelled to more than 60,000 people.
The group estimates that about 40,000 merchants will participate in this year’s festival, including luxury brands such as Burberry, Paul Smith, Estee Lauder, L’Oreal and Guerlain.
A new study, “Economic Outlook for Asia Pacific,” by Starcom MediaVest Group and YouGov says the key for brands is to act now.
Luxury skin-care, cutting-edge and Korean brands rule beauty retail.