Luxury stores' exit mauls Hong Kong malls

Hong Kong

TO gauge how much the Hong Kong shopping experience is changing, take a walk through Pacific Place mall. Burberry Group plc has shrunk its store and the space now also houses a Pure yoga studio and juice bar. Coach Inc has been replaced by a tea company. Some of Louis Vuitton's space has given way to a Southern California-style bar and restaurant.

Gone are the days when Chinese would queue up to get inside Prada, Gucci and Tiffany, and leave laden with luxury handbags and watches.