EPO Fashion closes HK stores

Chinese EPO Fashion Group, which owns the MO&Co and Edition brands, announced Monday night it closed 14 stores in Hong Kong due to the serious impact on fashion retail from social and economic turbulence.

Describing the decision "difficult", the group said in a WeChat post the temporary withdrawal from Hong Kong would not affect the brands' development on the Chinese mainland, with the group still generating double-digit growth there.

A number of international luxury brands had taken store-closing measures in Hong Kong, it said.

Founded in Guangzhou in 2004, the group runs 600 stores in China and six stores in Europe, selling its products in 18 countries and regions as of 2016. Online and offline revenue stood at 2.4 billion yuan ($339.14 million), according to previous media reports.

The company also owns children's fashion brand Little MO&Co, menswear label Common Gender and cosmetics brand REC. Its Hong Kong branch was established in 2016.

Prolonged social unrest and violence since mid-June have dealt a heavy blow to the retail sector in Hong Kong.