French fashion label Christian Dior has postponed its planned mega fashion show in Hong Kong due to be held in March, the government said on Monday, without giving a reason for the decision.
The event was widely anticipated by many in the luxury sector after a high profile show from Louis Vuitton helmed by singer Pharrell Williams last November, which was an attempt to put the Chinese city back on the luxury map and attract wealthy spenders.
Dior did not immediately respond to Reuters requests for comment on why it postponed the show.
“We have just received notification from the organiser that the event will be postponed. In fact, postponements of large-scale events often happen. We continue to welcome large-scale events to be held in Hong Kong,” the government said in an email.
Hong Kong’s luxury retailers are adapting to fewer wealthy Chinese shoppers visiting the city and a shift towards tourists flocking to Instagram-coveted spots in trendy districts rather than splashing out on pricey branded gear.
Before the pandemic, the Chinese special administrative region had bucked global trends of declining demand for multi-brand department stores and ultra-luxury brands largely due to its attractiveness to high-spending mainland visitors.
But the rise of competing shopping hubs like China’s Hainan island, changing consumer preferences and a rise in online shopping have fundamentally changed demand for luxury goods in Hong Kong and are starting to reshape the city’s visitor economy, according to industry experts. – Reuters
