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Amid a challenging retail environment in Hong Kong, K11 MUSEA is expanding its luxury offerings, doubling the footprint of seven well-known brands, including Audemars Piguet, Balenciaga, and Van Cleef & Arpels. This expansion will bring the total luxury retail space at the cultural-retail complex in Victoria Dockside to over 30,000 square feet.
This development contrasts with broader market trends, where many retail spaces have faced difficulties due to shifts in consumer behavior and economic uncertainties. Richard Cheung, Executive Vice President of K11 Group, noted that the expansion reflects strong sales performance and high customer engagement at K11 MUSEA. The center’s “Cultural Commerce” model, which integrates cultural experiences with retail, has played a significant role in attracting both brands and consumers.
The expansion includes new concept stores and duplexes designed to enhance the shopping experience. Prada, which will open its first store at K11 MUSEA, is among the brands expanding their presence. This move highlights the ongoing appeal of the center as a destination for luxury shopping in Hong Kong.
K11 MUSEA reported a record footfall during the summer of 2024, with food and beverage sales increasing by nearly 30% and tourist spending rising by 10%. These figures suggest that the center continues to attract visitors despite broader economic challenges in the region.
Over the past year, K11 MUSEA has hosted several high-profile events, including Louis Vuitton’s Men’s Pre-Fall 2024 Show and Gucci’s first collection under creative director Sabato De Sarno. These events have contributed to the center’s standing as a key player in Hong Kong’s luxury retail sector.
As K11 MUSEA expands, it remains a significant part of Hong Kong’s retail landscape, offering insights into how luxury retail can adapt in a changing economic environment. The center’s growth underscores the importance of integrating cultural and shopping experiences to maintain consumer interest.
