“Farewell Hong Kong, hello China”.

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26 February 2021 à 16h18

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1 minute

Publication: 26 February 2021 à 16h18

Reading time: 1 minute

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Publication

26 February 2021 à 16h18

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1 minute

Publication: 26 February 2021 à 16h18

Reading time: 1 minute

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From April 2021, the VF Corp retailer (owner of Supreme, Timberland, Vans and The North Face) will move the Hong Kong headquarters to Shanghai. A second operational hub, dedicated to Asia, will be in Kuala Lumpur (Malaysia). Logistics will move from Hong Kong to Singapore. Due to the combined effects of the socio-political conflicts with Beijing and Covid-19, the Hong Kong economy has been in free fall for a while. Other retailers such as Versace, Salvatore Ferragamo, Bulgari, Fendi, Givenchy and Céline also reduced the number of staff at their Hong Kong headquarters to concentrate on the mainland. L’Oréal plans to open new operational hubs in mainland China and Singapore.

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