05 Oct '12, 1pm

Luxury Brands Are Fleeing Argentina: BUENOS AIRES, Argentina (AP) — Adios, Armani. Hasta la vista, Louis Vuitton...

BUENOS AIRES, Argentina (AP) — Adios, Armani. Hasta la vista, Louis Vuitton. The world's most luxurious designer brands are abandoning Argentina rather than comply with tight new government economic restrictions, leaving empty shelves and storefronts along the capital's elegant Alvear Avenue, where tourists once flocked to see the latest in fashion. Kenzo is the latest to go. The Japanese label's owner, Louis Vuitton Moet Hennessy, issued a statement Tuesday blaming Argentina's "complex economic context" for the closure of its store on Oct. 10. Government trade restrictions kept Kenzo from importing its spring and summer clothing lines, store employee Stella Christianopol said. It joins a long list of top luxury brands pulling out of Argentina: Emporio Armani, Yves Saint Laurent, Escada, Calvin Klein Underwear, Polo Ralph Lauren, Louis Vuitton and Cartier. The labels have ...

Full article: http://www.businessinsider.com/luxury-brands-are-fleeing-...

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