China’s Luxury Collapse: Rolex Closes 2 Shanghai Stores, LV Exits, Galeries Lafayette Shuts Down

The Louis Vuitton store at Guiyang’s Lixing Center was once seen as the final piece of the brand’s expansion strategy in southwest China when it opened in 2022. But just four years later, the store that once generated 10 million yuan in sales on its first day ended in a dramatic decline.

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