More Luxury Stores Closed in China Over the Last Year Than in Any Other Country

(jingdaily.com) - Amid a wave of store closings in the luxury industry around the world, China has recorded the most number of closures between July 2016 and July 2017, the latest report by the investment research and management company Bernstein shows. The report, titled “Store Wars,” based its findings on Bernstein’s tracking of about 7,000 stores referring to 36 luxury brands including big names such as Burberry, Saint Laurent, and Céline. Burberry and Dunhill had the most store closures in China of all the brands during that period. China has seen 62 net closures of luxury brand stores during the surveyed period, the largest number observed by Bernstein among all significant geographies. The firm viewed the trend as a revision of the over-expansion, in previous years, of luxury brands into the Chinese market.