British luxury fashion house Burberry leaves Hong Kong’s renowned shopping district Canton Road.
The three-storey store’s closing followed Burberry’s decision to close its well-known Russell Street flagship last year, highlighting the company’s difficulties in a market where Covid-19 limitations are still in effect.
Canton Road, with its close proximity to the Harbour City shopping centre, is regarded as a centre for luxury brands. Before the pandemic and the closing of the border with the mainland, the street was a popular travel destination for visitors from the Mainland. According to WWD, the Burberry Canton Road flagship debuted in 2011 and spends USD 1.12 million on rent each month.
Prior to Burberry, several upscale retailers along the Canton Road retail strip, including Valentino, Tiffany & Co., and Coach, closed their doors due to a shortage of tourists and, by extension, customers. Due to the widespread use of the Omicron variant, Hong Kong earlier this year enacted its harshest Covid-19 regulations, leading to numerous closures of restaurants and retail stores.