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Genuine buyers lose out in Versace rush

By Liang Yiwen and Liu Xiaolin   (Shanghai Daily)

09:02, November 18, 2011

Hunderds of shoppers were in the queue when items designed by Versace for the high street retailer H&M went on sale in Shanghai yesterday.

Not long after, however, many of the limited edition items were being sold online at inflated prices and even changing hands outside the stores on Huaihai Road and Nanjing Road W.

Many of the people who lined up from the night before were said to be online vendors. Others were hawkers who started selling their purchases as soon as they left the stores. But they soon attracted the attention of city watchdogs who despatched officials to send them on their way.

On taobao.com, items from the Versace collection were on sale at almost double the price in the stores.

There was even a roaring trade in spaces in the queue with wristbands guaranteeing good places being offered at hundreds to thousands of yuan.

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