Law a la mode — Winter 2012–13 (China and global spending)
The Hong Kong editorial team is pleased to bring to you this Winter 2012–13 edition of Law à la Mode, the legal magazine distributed to selected contacts around the world by DLA Piper’s Fashion, Retail and Design group.
In the wake of Christmas and with new year sales hitting the stores, retailers are in the midst of their busiest time of the year. This is never more true than in Hong Kong, known for its dense concentration of glitzy malls lined with famous labels and big-name couture boutiques, and with much of its economy dependent on the retail sector. Despite the slowdown in consumer spending in most parts of the world, retail sales in Hong Kong grew almost 10 percent in value from last year. In this edition, we share with you the reasons behind this growth and highlight the huge growth of traditional shopping malls in China as retailers attempt to capture the opportunities arising out of the rapid surge of personal wealth in China. We also highlight a key pitfall which Western brands face when looking to exploit this giant market in Asia…
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