Luxury Brands Shut Down Argentina Stores One After Another.

Ralph Lauren Argentina store

The announcement of Ralph Lauren's closure of the store was a big surprise. Before that already existed. Armani (Armani) left in 2009, followed by Escada and Yves Saint Laurent, who have entered the country for 30 years. According to local media reports, Paris jewelry brand Cartire will follow suit. But senior executives are reluctant to comment.

Diego Schvartzman, a luxury consultant, told reporters that "these brands are facing many difficulties in Argentina because of the existence of foreign exchange supervision, and at the same time, after importing certain commodities, they must export the same amount of merchandise. That brings them to these. Luxury brand The performance is increasingly losing money.

Argentina women Christina Kirchner decided to strengthen foreign exchange management, so as to effectively combat the loss of assets, and strengthen business control, so as to maintain the surplus of foreign trade.

Ralph Lauren said in a statement that the company "will not leave the country: we just checked the situation and decided to temporarily close three stores". A local resident said, "they are all leaving because they can not transfer their profits."

The solution to Italy brand Ermenegildo Zegna, which has entered Argentina since 1999, is to promise to export Argentina products of the same value to offset the amount of imports. According to sources, since May, the company has exported local wool to Europe through a partner. Zegna doesn't want to give up this important. market 。 Because Argentina is very important to the brand, and its business performance has been good.

Armani (Armani) left, but Escada decided to retain its closed stores: customers could still come to enjoy the long skirts of brand design, but they could not buy them.