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Opinion
Andrea Felsted

Luxury Brands Go on a Diet

Expect store expansion to come to an end as consumer demand wanes

It's already happened to middle-of-the-road stores across high streets and main streets. Now the world's biggest luxury stores are starting to shutter outlets.

The culprit is the Chinese consumer, who is starting to rein in spending at home and abroad. The effect will be no less severe: expect more closures to come.