British luxury fashion house Burberry leaves Hong Kong’s renowned shopping district Canton Road.
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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.
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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.