Hong Kong's Biggest Retail Rival Is on Its Doorstep
- Halewinner closing Hong Kong stores, opening Macau outlets
- Watch retailer wants to capitalize on Macau family push
Pedestrians walk along a street with illuminated signs at night in Macau, China, on Tuesday, Dec. 1, 2015. Macau's casino revenue fell for the 18th straight month in November, as China's moves to curb illicit money flows from the mainland deterred the high-stakes players who rely on junket promoters for betting loans.
Photographer: David Paul Morris/BloombergLuxury-watch retailer Halewinner will almost double its store count in the Chinese gambling hub of Macau, where casinos want time to be irrelevant, dealing another blow to Hong Kong’s staggering retail market.
Halewinner Watches Group will open at least nine more shops in Macau while closing two in Hong Kong, Chairman Karson Choi said in an interview. Most of the new stores will be in the Cotai Strip, where Sands China Ltd. will open its Parisian resort this year and Wynn Macau Ltd. will debut the Wynn Palace.