Core Viewpoint - Recent rumors suggest that the Chengdu branch of the buyer's store brand Lane Crawford may cease operations after its lease expires in January 2026, following multiple staff departures. However, Lane Crawford has denied these claims, stating that discussions regarding the lease are premature and that they are optimizing their business layout [1][2]. Company Summary - Lane Crawford operates three stores in mainland China, located in Chengdu, Beijing, and Shanghai, with the Chengdu store opening in 2015. The Beijing store at Yintai Center closed in 2021 [2]. - The company is owned by the Lane Crawford Joyce Group, which is privately held and not required to disclose financial data [2]. - Lane Crawford has recently adjusted its business strategy, leading to some sales staff departures based on mutual agreements [2]. Industry Summary - The retail environment for Hong Kong-based buyer's stores has been challenging, with many struggling to attract foot traffic and sales as luxury brands increasingly favor direct sales or independent stores [8][9]. - Consumer preferences have shifted towards lower-priced overseas department stores and direct brand purchases, diminishing the role of local buyer's stores [9]. - Lane Crawford has attempted to innovate by supporting emerging Chinese designer brands through initiatives like the "Creative Gathering" project, but has not continued such efforts since 2020 [11]. - The overall market for designer brands has contracted, leading to decreased consumer interest and spending [11][12]. - The transformation of Hong Kong buyer's stores is ongoing, but significant challenges remain in adapting to rapidly changing consumer demands [15].