HONG KONG SAR – Media OutReach Newswire – 19 September 2024 – Victoria Dockside, K11 Arts and Culture District heralds a new era of luxury. Some of the world’s most prestigious luxury brands plan to significantly expand their presence at K11 MUSEA, underscoring their confidence in K11 Group’s pioneering “cultural commerce” business model that seamlessly integrates culture and retail. Over the next four years, brands such as Audemars Piguet, Balenciaga, Brunello Cucinelli, Loewe, Saint Laurent and Van Cleef & Arpels will renovate their stores, while Prada is set to open its first store at K11 MUSEA, doubling the total luxury presence of these seven brands at K11 MUSEA.
K11 MUSEA set a new record for daily visitor numbers in summer 2024. Food & beverage and retail sales increased by nearly 30%, and tourist sales increased by 10%.
Capitalizing on K11 MUSEA’s prime location, high footfall and growing visitor numbers, the newest stores from the world’s leading luxury brands enhance the appeal of this unique arts and culture destination, expanding their retail space to over 30,000 sq ft. This underlines K11 MUSEA’s enduring appeal as a destination for luxury shoppers seeking an unparalleled shopping experience in its new distinctive duplexes and new concept stores.
“Given the current retail climate in Hong Kong, we are delighted to see so many leading luxury brands setting up shop at K11 MUSEA,” said K11 Group Executive Vice President Richard Cheung. “This is primarily a result of the strong performance and extremely high sales productivity of our existing stores at K11 MUSEA. This reinforces our commitment to a cultural commerce model that benefits both our customers and brand partners at the K11 Arts and Culture District.”
Victoria Dockside is known for partnering with renowned luxury brands to create eye-catching events in the city. Over the past year, visitors have enjoyed the first-ever Louis Vuitton Men’s Pre-Fall 2024 show, the magical Dior Christmas Dream Carousel, and Gucci Ancora, Gucci’s first collection under the helm of new Creative Director Sabato de Sarno. Luxury brands repeatedly choose to host large-scale events against the breathtaking backdrop of Victoria Harbour, leveraging K11 Group’s unique cultural retail concept. These brands can also tap into K11 Group’s database of luxury customers, known as KLUB 11 Black Card members, who can be invited to exclusive trunk shows and jewellery events supported by K11 Group’s VIP facilities.
Victoria Dockside successfully hosts major events throughout the year that attract international tourists and day trippers, setting itself apart as a must-see destination. Most recently, this summer the “100% DORAEMON & FRIENDS” Tour (Hong Kong) exhibition, organised by AllRightsReserved (ARR) and Fujiko Pro, reportedly boosted K11 MUSEA’s food & beverage and retail sales by nearly 30% and tourist sales by 10%.
Hashtag: #K11
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About K11 Group
K11 Group is a global cultural brand founded in 2008 by renowned entrepreneur Dr Adrian Cheng. The company’s unique and ingenious business model, “Culture and Commerce”, blends culture, arts and commerce to create an ecosystem that caters to people from all walks of life. Headquartered in Hong Kong, the Group has expanded its reach and influence to gain a significant presence in Greater China. With core values ​​of arts, people and nature, the Group aims to democratize the arts, cultivate cultural talent, advocate sustainable development and inspire new generations. In addition to Hong Kong’s landmark mixed-use development project, Victoria Dockside, the K11 Arts and Culture District, the Group has a wide range of businesses across retail, workplaces, hospitality and luxury residential.
Looking to the future, K11 Group is expected to have 38 projects with a total floor area of ​​approximately 3 million square meters across 12 Greater China cities upon completion, and continues to set new standards in “culture commerce”.
News source: K11 Group
Financial Press Release distributed by EQS News on September 19, 2024.
The issuer is solely responsible for the content of this announcement.
