Pursuits
LVMH’s TAG Heuer to Shut Hong Kong Store as Rental Costs Bite
(Bloomberg) –- Hong Kong’s sky-high retail rents have claimed another victim. Swiss watch maker TAG Heuer is closing one of its outlets blaming rising costs and falling sales. Bloomberg’s Anne Kruger reports on “Asia Edge.” (Source: Bloomberg)
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Swiss watchmaker TAG Heuer is shutting a store in Hong Kong as high rental costs and declining numbers of customers weigh on profitability, according to the head of LVMH Moet Hennessy Louis Vuitton SE’s watchmaking activities.
The brand has decided to close a store on Russell Street, one of the island city’s main shopping thoroughfares, Jean-Claude Biver said Monday.