With Sales Slowing, Luxury Brands Are Finding Hong Kong Rent Too High

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Shoppers and pedestrians walk past a Burberry Group Plc store, center, and a shuttered store vacated by Tag Heuer International SA on Russell Street in Hong Kong. Photographer: Xaume Olleros/Bloomberg

Landlords on Hong Kong’s Russell Street a year ago could boast the highest retail rents in the world. Now they are adjusting to a new reality.

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