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April 26, 2017 — 14:31

Burberry closed Guangzhou factory, luxury China in the cold –

Since then, a number of foreign luxury brands in the Chinese market suffered “cold”, Tiffany, LVMH and other luxury goods group sales growth in China in the second quarter for the first time in three years below 20%. Not long ago, the British luxury retailer Burberry announced the closure of a factory located in Guangzhou.
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Recently, the British luxury goods retailer Burberry adverse news again and again, following the September group of the brand issued a profit warning, has just announced the closure of a factory in Guangzhou. Industry analysis Burberry to close the factory, in addition to the factory workers have irregular factors, may also be affected by the slowdown in the domestic economy, resulting in the brand sales in China fell sharply, to reduce production costs and shut down the factory.

Burberry has a history of 156 years, is a British traditional style of luxury brands. In March 2007, Burberry put forward the “globalization” program, the production line moved to Shenzhen, and then set up factories gradually in other major cities in the country .The closure of the Guangzhou factory is one of them.
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According to the reporter learned that the reasons for the closure of Guangzhou foundry, on the one hand because the workers working hours and working environment standards failed to meet the standards, in violation of the British moral trade organizations. But there are also industry analysis, its sales in China fell sharply or is also an important reason.

Reporters inquired about the official website of the bag, that the brand has three stores in Guangzhou, respectively, located in the friendship store, Taikoo Hui and Haiyin another city. Reporters visited the friendship store, found Burberry where there are three business points.

Luxury consumption in recent years in the domestic high-speed development, has become the global luxury brand market growth engine. According to the Boston Consulting Group, China is expected to surpass Japan and the United States by 2015, becoming the world’s largest luxury goods market. However, since the first quarter of this year, a number of luxury brands in the Chinese mainland market performance are the downward trend in growth.
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According to the US economic survey agency ISI Group’s latest data, Tiffany, LVMH, Richemont, Prada, Burberry, Ferragamo and other luxury goods business sales growth rate of 17% in the second quarter, only half of the same period last year.

Reporters came to Panyu Haiyin another city of Outlets Square, where the concentration of Gucci, Armani, Burberry, HugoBoss and other luxury brand franchise stores. Reporters into the mall, see the flow of people here on Sunday is also very little, the scene is very lonely.