Luxury Sales At Hangzhou Tower Approaching 1 Billion Yuan In First Seven Months Of Year
Hangzhou Tower
Hangzhou might not have the same reputation as a critical luxury market as nearby Shanghai, but the city of 9 million boasts something that larger cities like Guangzhou and Shenzhen can’t: a consumer base that actually prefers to shop locally. While shoppers in cities close to Hong Kong often treat malls as showrooms, choosing to do their actual buying in the duty-free former British colony, Hangzhou’s high-end malls are seeing record sales.
Currently, Hangzhou’s three main luxury malls, Hubin International, Hangzhou Tower and MixC, have found that when it comes to the city’s shoppers, “the more expensive, the more popular.” From the Qianjiang Evening News (translation by Jing Daily team):
As Jing Daily wrote in our recent profile of the city, Hangzhou is notable for the speed at which its residents have become more brand-savvy, a trend that has attracted most of the world’s largest luxury brands to launch boutiques there since 2005. Will the “rising brand standards” mentioned by the Qianjiang article soon see luxury brands that have yet to prioritize the launch of a Hangzhou boutique to change their minds?