Fashion retailers are experiencing hard times in the shopping paradise of Hong Kong. Due to the city’s popularity as a business location, rental prices have soared over the last three years and retail space has become practically unaffordable for local entrepreneurs. Bottega Veneta has seven retail outlets in the city, Chanel and Prada both have eight and Gucci has ten. Yet Hong Kong isn’t only popular with the luxury brands, the more affordable sector has also discovered the city. H&M has nine outlets and Zara eight. Gap will soon be opening their first shop, Abercrombie & Fitch is on its way and Forever 21 will arrive this autumn. In research carried out by Cushman & Wakefield on the world’s most expensive shopping locations, Causeway Bay in Hong Kong came second in both 2009 and 2010, right behind Fifth Avenue in New York. Abercrombie & Fitch will be paying HK$ 7 million per month for their 2000 m² retail location. Read Full : Hong Kong presents itself as the gateway to China - Fashion - news - Fashion News India, jobs, network, apparel, business
