HK luxury retailer eyes expansion in mainland

Hong Kong luxury retailer THE SWANK plans to accelerate its expansion in the mainland's second- and third-tier cities, in order to cash in on the booming luxury market.

"In 2012, THE SWANK will open its first stores in Xi'an and Hangzhou," said Tony Lam, the retailer's general manager.

"And in the next five years, we will open at least five stores in the mainland."