Louis Vuitton Reducing Stores in China

Louis Vuitton (Paris) has announced that it is reviewing eight of its stores in smaller cities throughout China. According to Bloomberg Business, the company anticipates reducing its number of stores in China, whether through closing select stores or moving and refurbishing others.

The company is reviewing is about 20 percent of its total store count in the country.

The move comes as local demand for luxury products has dropped in recent years, and Chinese customers are doing more of their shopping in Japan and Europe.

Some other retailers, including TAG Heuer (La Chaux-de-Fonds, Switzerland) and Burberry (London), are also planning to or recently have closed stores in Hong Kong.