Luxury Retail Picks Up in China's Hainan Island, Gold Retailers Shine Brightest [Yahoo! Finance]
BRUNELLO CUCIN UNSP/ADR (BCUCY)
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Source: Yahoo! Finance
Dec. 18 — reported encouraging figures in the first few weeks after a slew of beneficial policies kicked in that were designed to stimulate high-end consumption. These included allowing zero tariffs on many goods entering the province. More from WWD What to Watch: China's Evolving Luxury Market Reset Michelle Yeoh, Labubu Front Pop Mart's Sophomore Play/ground Magazine Kim Jones on Why Asia's Got the Pulse and How Culture Is Luxury's Long Game According to Haikou Customs, offshore duty-free shopping turnover reached 1.1 billion renminbi, or $157 million, in the first week that the island became a free-trade zone, up 54.9 percent year-on-year. Visitors totaled 165,000 in the period, up 34.1 percent. At the top shopping mall, CDF Sanya International Duty Free Shopping Complex — which offers a comprehensive range of luxury brands including Gucci, Cartier, Prada, De Beers, and Brunello Cucinelli — sales and foot traffic during the first seven days grew over 80 percent and ov
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