The Tonino Lamborghini Hong Kong franchise is closing its stores as luxury sales slide due to changing Mainland Chinese buying patterns.
Bestime (Asia Pacific), the local franchisee of the Italian luxury brand, at one point ran 18 standalone stores and counters in department stores, before it started to vacate locations as leases came up for renewal.
A staff member who has worked for one of the Tonino Lamborghini stores for 10 years confirmed to the South China Morning Post the stores were closing, but precise details are scant.
“We were told all the stores in Hong Kong would be closed, but [the company] didn’t say exactly when,” she told the Post.
It is understood Tonino Lamborghini will take its Hong Kong retail operations in-house, but it is not yet clear if it will lease new spaces, or concessions.
The brand was founded in 1981 by the son of Ferruccio Lamborghini, founder of the luxury supercar marque Lamborghini. The fashion brand produces shoes, watches, clothing and accessories.
A spokesman for Yata department store, where a Tonino Lamborghini concession closed in January after the lease expired, said the brand’s sales were “not particularly good” but “not too bad, either”.
Stores-in-stores in Wing-on, Sincere and Sogo department stores have also not been renewed.