Louis Vuitton to close Hong Kong shop as protests bite

• Financial

Paris-based Louis Vuitton, the world’s largest luxury goods brands by sales founded back in the 1854s by a French designer and businessman, Louis Vuitton, had been mulling an option to shut down one of its franchisees in the crisis-stricken Asian economic HubSpot, Hong Kong, which had been at the verge of losing much of its luminescence amid a six-month long pro-democracy protest that turned violent last month following death of a student, as a persistent wave of protest had been hitting demands and it was getting more and more tougher for businesses to grapple with a sky-high rental costs in the China-controlled island city, a South China Morning post newspaper report published on Friday, the 3rd of January 2020, had revealed citing sources familiar with the subject-matter.

Besides, according to Friday’s (January 3rd) South China Morning Post newspaper report, the long-hailed fashion brand had been planning to shutter down its store at Times Square Mall in the Hong Kong city, while the company had been drawing out a plan to halt operation of eight of its shops in the China-controlled island city of Hong Kong, which had been blazing amid a six-month-long protest as beforementioned.

Aside from that, Friday’s (January 3rd) South China Morning Post report had also quoted a source as saying on condition of anonymity that the French fashion retailing giant had reached the decision to stop some of its shops after having failed to reach an accord with its landlord to trim rental cost of the mall outlet.