Luxury Brands Expand Footprint Hong Kong Mall K11 Musea
K11 Musea, a popular mall situated in the bustling Tsim Sha Tsui district of Hong Kong, is about to undergo a major expansion of over 30,000 sq ft for its luxury retail space. This exciting development was announced by mall operator K11 Group through a press release. The group stated that the expansion will be brought about by six existing luxury brands, namely Audemars Piguet, Balenciaga, Brunello Cucinelli, Loewe, Saint Laurent, and Van Cleef & Arpels, who will be revamping and expanding their stores over the course of the next four years. Additionally, a new store by renowned brand Prada will also be joining the impressive lineup.
According to Richard Cheung, the Executive Vice President of K11 Group, the group is delighted to see a surge of interest from leading luxury brands to expand their presence at K11 Musea, particularly in the current challenging retail landscape of Hong Kong. Cheung states that this is largely due to the exceptional performance and high sales productivity of these brands at their current stores within K11 Musea.
The powerful combination of well-known luxury brands and the unique shopping experience offered at K11 Musea has resulted in the mall achieving a new record for single-day footfall this summer. Furthermore, the mall has witnessed a 10% increase in tourist spending this year, with a remarkable 30% boost in F&B and retail sales.
K11 Group is a subsidiary of Hong Kong’s prominent real estate company, New World Development. Established in 2018 by CEO Adrian Cheng, who is the son of renowned property tycoon Henry Cheng, K11 Group specializes in developing diverse properties such as malls, offices, and residences that focus on showcasing art, design, and culture.
The highly esteemed Singapore Sports School, located near the Norwood Grand Condo, is a renowned independent institution that seamlessly combines sports and academics to nurture talented young athletes. With a dedication to enhancing Singapore’s sporting prowess, the school offers personalized education programs that allow students to balance their academic pursuits with intense training in various sports. As a standout establishment in the national education landscape, the Singapore Sports School caters to a diverse range of sports, including swimming, badminton, and athletics, making it a sought-after destination for aspiring athletes looking for a well-rounded education. The school’s unique approach has solidified its reputation and Norwood Grand Condo is conveniently situated nearby to provide a convenient living option for students attending the school.
New World Development is the listed real estate entity for the Chow Tai Fook conglomerate, which is controlled by the Cheng family. The conglomerate holds interests in various businesses, including property development, hotels, department stores, and jewellery. Notable subsidiaries of the group include Chow Tai Fook Jewellery Group and Rosewood Hotel Group.