The president's battle with Beijing and visa policies on Gulf nations are taking a brutal toll on the tony retail zone, with sales down double digits and no relief in sight.
Peak summer travel season has arrived in Beverly Hills, usually a prime time for tourists from China and the Gulf. But hospitality and shopping destinations are seeing notably fewer Ferraris with Arabic plates cruise Rodeo Drive as many well-heeled travelers bypass Los Angeles. At the same time, Chinese travelers to the U.S. dropped for the first time in 15 years, by 5.7 percent in 2018, according to the International Trade Administration.
Rys Edwards, executive director of marketing for the luxury Beverly Hills car dealership O'Gara Coach Co., says that he's noticed "a little dip in our Chinese and Arabic clients this year," adding, "I presume it has something to do with the travel visa issues.
A sales associate at the Coach store on Rodeo Drive estimates that purchases by Chinese clients are down "maybe 40 percent" this summer compared with last year, while a counterpart at Salvatore Ferragamo pegged the decrease in both Chinese and Saudi business at "maybe 30 percent." At luxe Italian menswear brand Ermenegildo Zegna, an employee noted a "significant" decrease in Chinese and Middle Eastern customers.
Those shoppers who do make the trip to L.A.'s tony retail zone increasingly are seeking experiences and personalization: The free Louis Vuitton X pop-up exhibition and shop on Rodeo is "on everybody's list," says Pollard Bayme. L.A.-based luxury business consultant Ann Shatilla estimates that it draws 5,000 to 10,000 visitors a day.
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