Versace to Bottega Court Local Shoppers as Jet-Set Demand Cools

  • Luxury-goods makers catering to New York, Hong Kong residents
  • Spending by tourists has stagnated in wake of terror attacks

The Versace store on 5th Avenue in New York.

Photographer: Victor J. Blue/Bloomberg

After years of feasting on tourists’ demand for hand-stitched leather satchels and diamond-encrusted watches, luxury-goods makers are now courting a group they’ve long overlooked: local shoppers.

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