The British luxury player's Chief Executive Marco Gobbetti is positive that the erstwhile luxury hub will recover from months of hardship, but is staking bets on neighbouring Shenzhen to be safe. "Hong Kong has an incredible energy to bounce back and rebound. Of course we will have to look at our retail footprint if tourism from China will be severely impacted for a long time," he told the SCMP. This month, Burberry opened a "social retail" store in Shenzhen in partnership with WeChat owner Tencent, which boasts social media and gaming functionality. Meanwhile, a third wave of coronavirus in Hong Kong and socio-political strife in the wake of Beijing's national security law has prolonged retailers' woes. Just this week, department store Sogo announced that sales in its Causeway Bay and Tsim Sha Tsui locations dropped 50 percent and 70 percent in the first half of the year, respectively. (SCMP)