The founder of LUXE by Encanto Luxury, Patricia Cheong, expects expansion in Macau by retailers of expensive brands of goods to slow in the next five years, our sister publication Business Daily reports. The newspaper quotes Ms Cheong as saying that new shops selling luxuries are opening every day, and that the rate of increase in the number of such shops will slow. “Previously, the growth was crazy and led brands to expand too much,” Ms Cheong told the newspaper. “They don’t expect business will slow down or decrease. It will grow steadily,” she said. “But they will reduce the development of shops in Macau.”
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