Posts Tagged ‘Demographics’
Lane Crawford Closed in Shanghai
WSJ reported that Hong Kong luxury goods retailer Lane Crawford has closed its flagship store in Shanghai. According to a Lane Crawford spokeswoman, the company is “definitely not pulling out” of China. In fact, we are actively looking at expanding in Beijing and Shanghai, and really beefing up our presence.” Whether it is ture or not, we’ll see. I was at the store last month. Store traffic was so light that the only place in the building where you can see more than three customers in the same store was the modern Sichuan restarant on the 5th floor. I guess it is safe to say that people like the tender beaf more than the buttery soft leather of Bottega Veneta handbags.
