It's normal for stores who stay in such environment to sell goods at ridiculous prices. One thing I don't know is if the quality is worth the outrageous prices, I will perform an experiment on this soon.
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Yeah, the cost of renting such a prime spot is indeed tremendously expensive, but if you compare it with quality, then the price should not be so high. But the Branding is also a driving criterion for high prices. You try your experiment and let us know your thoughts on that. Thanks for your comment.