It was setup by an Australian and an American. Its top management is mostly Western. Its largest shareholder is an old British company that expanded in China in the 19th century, thanks to the British Empire, its 2nd largest shareholder is Air China (China's national carrier).
This 'crackdown' may be a visible manifestation of a culture clash.
It's not necessarily triggered by the government. Chinese are very patriotic, if not nationalistic, and the power of social media does the rest.
In this case Versace have only themselves to blame: T-shirts "Milan-Italy", "London-UK", etc. then "Hong Kong-Hong Kong" especially at this time, was incredibly stupid though probably not malicious.
I can relate.
I have seen people who are very critical of the government but at the same time circulate anti-West materials all the time.
From this, I would not even say it's due to stupidity, but more incompetence. If you are in a business and not know about one of your biggest markets, then you are doing something very very wrong!
For Portuguese you are probavly confusing it with the -ão ending. The tilde makes a difference.
- pão / pau
- mão / mau
But aside from that, protests in the airport just shut down all outbound flights from HKG for the remainder of Monday (from 4pm onwards). This is getting worse.