Sunday, December 21, 2008

What Recession?—Part Two

Tsim Sha Tsui is a very popular part of Hong Kong on the tip of Kowloon. I was there Sunday afternoon to pick up a last minute Christmas gift and get a few things for the upcoming visit by my Mom and sister. There’s tons of shopping in Tsim Sha Tsui (TST) including high-end stores. This was the scene outside Prada, Gucci, and Louis Vuitton; a long wait to get into each store, all of which are only a few steps from one another. At LV, there were at least 50 people in line. It wasn’t as if the stores were empty to preserve some snobby shopping atmosphere, they were packed, and these are huge stores. Again, I beg the question, “What Recession?” Some people have told me the shoppers are mainland Chinese who come into Hong Kong to buy luxury items. I don’t know if that is true, and it doesn’t matter. I am constantly amazed by the wealth in this city.


The Fab Miss B said...

I just finished reading a book called Deluxe: How Luxury Lost its Luster which said that Japanese tourists buy 50% of all the luxury goods made on the planet, but that in a few years, as the Chinese economy grows, they expect Chinese consumers to become the largest luxury market in the world. Next on my list is a book called Asia's Love Affair with Luxury. I'll keep you posted!

amy said...

I should read these books you mention. I definitely think the long lines are due to the "China factor."