Britain'S Withdrawal From Europe Has Led To The Continued Depreciation Of Sterling And The "Luxury" Of Luxury Brands.

At present, many luxury brands are reducing Hongkong's business and moving to Macao, a popular tourist destination in mainland China.

Jon Copestake, chief retail consumer analyst at the Economist Group's think-tank, said that the Burberry price adjustment is the inevitable result of the UK's departure from Europe. The depreciation of the pound is bound to reduce the price of products in Hongkong to reduce the international price gap. This is a measure for luxury brands to carry out parallel trading, and this will also help offset the strong Hong Kong dollar.

It is reported that other British

Alexander McQueen, Mulberry and Vivienne Westwood have no price cuts for the time being. In the meantime, the global luxury brands will also face the problem of re pricing.

Influenced by the European Agreement in June 23rd this year, Exane BNP Paris bank earlier pointed out that Britain has become the cheapest luxury market in the world.

Aaron Fischer, a consumer regional director of CLSA, said: "Burberry's move is not surprising to us. Next, not just British brands, but also other international luxury brands will be cutting prices in Hongkong."

The weakness of the euro this year has led to many luxury brands, including Chanel's price cuts in Asia and the price increase in Europe to balance the consumption gap between the two ends of the market.

According to Barclay analyst, in the luxury industry, Burberry is China and

One of the biggest selling brands, if the euro continues to slack, including LVMH, the world's largest luxury group, may also take steps to reduce the price gap.

In the second quarter of this year's luxury brand earnings report, Hongkong has become the most heady market for luxury brands.

Between April and June this year, Burberry recorded a double-digit drop in sales in Hongkong.

However, the move of Burberry did not seem to cause consumers to buy enthusiasm. Compared to last March's Chanel price cut, the store's long queues were Burberry.

It is understood that this is the largest price reduction activity ever made by Burberry in order to attract customers. But the brand has maintained a low profile publicity. Brand members have not received the special price notice similar to last year's price cut. Last year, the brand made a 8% to 10% reduction in its classic windbreaker and cashmere scarf.

according to

Employees said that although the brand did not specifically notify members of the product price adjustment, but this time many mainland Chinese consumers asked them to reserve some styles of handbags.

In addition, the British brand Ted Baker has also reduced the product price difference in the international market in similar ways, and the brand product has been reduced by HK $100 to HK $200 per piece.

Burberry, like other fashion luxury brands, is seeking ways to ease the decline in performance. Coupled with the worsening of high profit market performance in Hongkong and Macao, as well as the devaluation of the renminbi, the performance of Burberry has worsened.

It is noteworthy that Burberry will launch a new series of synchronized sales in the world's main stores after its fashion show in September 20th. Burberry will be the most aggressive luxury brand to take the lead in the CEO Burberry Christopher Bailey.

Some analysts believe that the first look at Burberry9 shows that buying shows or accelerating the collapse of fashion week mode will have a serious impact on the delivery of clothing, designers, retailers and fashion systems.