日期:2015-10-15 11:36


Rents in what were the world's most expensive shopping streets have dropped by as much as 40 per cent as the impact of China's slowing economy on Hong Kong's once-booming luxury goods industry deepens.
From Prada to Gucci-owner Kering, companies in the sector are calling on landlords to cut sky-high rents, raising the prospect that the rate of store closures will accelerate.


A shop previously occupied by Jaeger-LeCoultre. in Causeway Bay is being replaced by a local discount cosmetics retailer that has negotiated a lease about 40 per cent cheaper than the high-end Swiss watchmaker.
Elsewhere in the city, the world's biggest market for Swiss watches and many other luxury goods, handbag maker Coach has vacated a prime corner store in the business district that is being taken for less rent by Germany's Adidas. “There's a grim macro background to what's going on,” said Simon Smith, head of research for Savills, the property company, in Hong Kong. “The end result is that people are spending less on big-ticket discretionary items, with watches and jewellery hardest hit. But now it's filtering down to luxury fashion and cosmetics.”
香港房地产公司第一太平戴维斯(Savills)的研究主管西蒙·史密斯(Simon Smith)表示:“租金下跌的背后是严峻的宏观背景。最终结果是,人们减少了在高价非必需品上的支出,钟表和珠宝饰品遭受的冲击最为严重。但现在这种影响已经渗透到高档服饰和化妆品。”
Annual sales of watches and jewellery — a key indicator for the wider luxury goods market — doubled in Hong Kong between 2010 and 2013, peaking at $15bn before going into reverse over the past two years. In the first eight months of this year, sales were down by 14 per cent on the same period a year earlier.
The corruption crackdown launched by President Xi Jinpingin 2012 made the purchase and display of expensive watches and designer accessories taboo among government officials and state-owned company executives who drove the growth of Hong Kong's luxury shops.
The slowing Chinese economy has further dented demand for high-end goods in Hong Kong, while currency moves have made alternative shopping destinations such as Japan, South Korea and Europe more attractive to Chinese consumers who are travelling overseas in ever-greater numbers.
Growing animosity among Hong Kong residents towards their mainland neighbours has also encouraged some Chinese tourists to shun the city.
John Zhu, an economist at HSBC, said that while retail only accounts for 5 per cent of Hong Kong's economy, the challenges facing the sector are indicative of the wider issues confronting the semi-autonomous Chinese territory.
汇丰(HSBC)经济学家朱日平(John Zhu)表示,尽管零售仅占到香港经济的5%,但该行业的挑战揭示了这个中国半自治地区遭遇的更广泛问题。
“Hong Kong has grown very wealthy in its traditional role as a gateway to China but there's no reason why that should last for ever,” he said.
As rents began to ease last year, Hong Kong was overtaken as the world's most expensive place to lease a shop by New York's Fifth Avenue. But while companies are keen to reduce their overheads, Hong Kong landlords have not proved as malleable. Most retail leases run for two or three years and property owners are not usually willing to renegotiate.
Tom Gaffney, head of retail for Hong Kong at JLL, a real estate group, said that many high street landlords would have to continue cutting rents when leases expire, especially in areas such as Causeway Bay.
香港房地产集团仲量联行(JLL)零售主管汤姆·加夫尼(Tom Gaffney)表示,在租约到期的时候,许多高街业主将不得不继续降低租金,尤其是在铜锣湾等地区。

  • primeadj. 最初的,首要的,最好的,典型的 n. 青春,壮
  • impactn. 冲击(力), 冲突,影响(力) vt. 挤入,压紧
  • malleableadj. 可塑的,易改变的
  • designern. 设计者
  • keenadj. 锋利的,敏锐的,强烈的,精明的,热衷的
  • previouslyadv. 先前,在此之前
  • corruptionn. 腐败,堕落,贪污
  • territoryn. 领土,版图,领域,范围
  • coachn. 大巴,教练;(火车)客车车厢,四轮马车,经济舱 v
  • occupiedadj. 已占用的;使用中的;无空闲的 v. 占有(oc