This year’s list covering the top destinations of global luxury retailers is not only topped by Hong Kong for the second year in a row, but also has placed Singapore, Tokyo, and Beijing in its top ten. The list is the fourth annual survey by real estate consultancy CB Richard Ellis and this year’s list illustrates Asia’s emergence as a formidable destination for the world’s top high-end retailers to set up shop.
Asia’s growth in the global market has resulted in many major luxury brands building new, lavish flagship stores (particularly in mainland China) to meet the locales’ newly wealthy populations’ demands. Major luxury brands have continued to see Asia quickly expand in this opulent new direction.
According to global business reports, Hong Kong is now host to 84 percent of luxury brands that were surveyed with Singapore and Tokyo placing seventh and eighth respectively, both with 69 percent. Beijing held the #10 spot with 67 percent. In terms of total retail, Hong Kong was the most attractive city in all of Asia among retailers, closely followed by Beijing and Shanghai.