High-end American fashion and handbag label Marc Jacobs apparently closed its flagship store at Harbour City in Tsim Sha Tsui after the week-long National Day holiday, the Hong Kong Economic Journal reported Monday.
The store has been boarded up since Friday after the end of Golden Week, leaving the Marc Jacobs store at the Landmark in Central as the only one operating in the city.
Some staff at the Harbour City location said the story has probably been evacuated, as there has been no indication that it is merely undergoing a renovation.
The Wharf (Holdings) Ltd. (00004.HK), Harbour City’s owner, has not replied to HKEJ’s enquiries. Nor have Marc Jacobs or its parent, LVMH.
A sales assistant at the store of another luxury brand in the same shopping mall said the store failed to meet its HK$10 million (US$1.29 million) sales target for September and it is uncertain whether this month’s higher goal can be achieved.
Sales of luxury watches and jewelry have also been affected by lackluster market conditions.
The average spending on each purchase during Golden Week dropped 10 percent from a year ago at Luk Fook Holdings International Ltd. (00590.HK), and total sales at Kowloon Watch Co. plunged 20 percent.
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