Core: in the global market, such as H&M, ZARA and so on, the days of luxury goods companies are becoming more and more difficult.

Following the announcement of the closure of some Japanese franchised stores at the end of last year, Italy luxury brand Versace announced plans to close 250 stores, accounting for 1/4 of the total retail sales.

At H&M,

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"Although the luxury market in Europe and America is shrinking rapidly, the emerging market represented by China still has unlimited potential."

The industry believes that Versace's contraction plan will not affect the Chinese market for the time being.

The Peninsula Beijing Hotel Versace store manager told the Beijing Morning Post reporter that as of now, no notification has been received from China.