Hong Kong ** Event Affects Hong Kong Garment Industry

Central Hong Kong was in chaos. Demonstrators gathered. The event coincided with the National Day holiday. An important consumer season was tumbled.

“We can expect that the strong smell of gunpowder on the streets of Hong Kong will drag retail sales in October,” said tim condon, head of the Asian research team at Singapore’s ing group, in a report. Caroline mak.

The most influential stores in Mong Kok and Lockhart Road and Wan Chai were closed on Monday. In the Central area, some retailers such as the clothing brands joyce and club monaco still closed their doors during the day and only opened at 1pm.

Most of the stores in the pacific place shopping center and lab concept are open on Mondays (6-10-2014), and some are closed or adjusted for opening hours.

Hong Kong urban outfitters was originally planned (6-10-2014) to open at the Admiralty Lane Crawford joyce groups lab concept on Monday. Now the opening event has been postponed.

“Coach has been closely watching the situation. The safety of customers and staff is the top priority. We have already started emergency plans for different locations and different management scenarios. Given today’s situation, the two companies in Central and Admiralty The stores are closed, and our remaining stores in Hong Kong remain open. Our team will continue to monitor and assess the situation as it continues to develop and we need to act quickly in response to changes,” said a coach spokesman.

A spokeswoman for giorgio armani, a clothing brand, said that the brand's specialty stores in Central and Pacific Place in Admiralty will remain open on Monday (6-10-2014), but warned that public transport diversions will affect traffic.

A spokeswoman for Lane Crawford’s joyce group said that the company is doing its best to “maintain customer experience and quality of service during this period,” but if it is to ensure the safety of its customers and employees, it will close the store.

Hong Kong-based fashion designer erbert chong said that he is waiting to see if he can hold his own spring/summer fashion show as scheduled. The fashion show was originally scheduled to be held at a restaurant mott 32 in Central on October 15th.

“If our stores in the city center are affected, we will consider measures to shorten the business hours to ensure the safety of our employees and customers and avoid the loss of stores,” said a spokeswoman for Chow Tai Fook Jewellery Company.

According to travel agencies, the number of Chinese tourists has dropped to 30%, which is a bad sign for the Golden Week holiday starting in October. Usually this is the busiest time of the month, and retailers rely on them to boost sales.

“For overseas tourists, they don’t know much about the inside story of the **** but they are worried about any ** or large-scale **, they are worried about whether the refund policy has changed,” said the director of the Hong Kong Inbound Travel Association. Long paul leung said that referring to those tax tours.

It is not surprising to see a 20-30% drop in the number of Chinese tourists. He added that the size of the group has also dropped from 40 in the past to 20 to 30.

The slowdown in China’s economic growth has already had a negative impact on luxury goods manufacturers and Hong Kong retail-related stocks. Dixon Creation (00113.hk) implemented **Panderson, said that Zhanzhong believes that it will definitely affect the businesses in Central.

Hong Kong's retail industry relies heavily on tourists from mainland China. According to Credit Suisse, they contributed about one-third of the city's retail sales in 2013. The outlook is still not optimistic, as demand for luxury goods continues to decline while local consumption remains sluggish. The Retail Management Association revised the city's retail sales growth in 2014 from 12% to 5%, while Hang Seng Bank downgraded the forecast from 13% to around 5%.

According to luca solca, managing director and head of global luxury goods, luxury goods companies are highly concentrated in Hong Kong and industry sales are slowing down. The further escalation of turmoil will bring more unfavorable factors.