GMG has launched a new Nike concept store in Hong Kong as part of its plans to ramp up its investment in Asia.
The store, which spans over 2171sqft in the East Point City shopping mall in Hang Tau district, sells sportswear for men and women in various categories including running, training and basketball.
GMG has partnered with Nike since 1982 in other markets. The company entered Asia in 2020 after buying Royal Sporting House, a leading multi-sports retailer and recently bought Nike retail stores from SUTL Corporation, expanding its presence in Singapore and Malaysia. The group currently operates more than 25 Nike stores in Asia, including 11 stores in Hong Kong, and represents 120 brands across the Middle East, North Africa, and Asia, including Under Armour and Timberland.
GMG sees Asia as a significant potential market, with Hong Kong’s sports and outdoor category predicted to reach 2.3 million consumers during the next three years.
“Asia is propelling the retail industry forward, generating a substantial portion of global growth in the sector and offering immense potential and expansion opportunities for GMG,” said Mohammad A Baker, deputy chairman and CEO at GMG.
“The opening of our new Nike store in a key market such as Hong Kong, the first in two years, further signifies the recovery of a post-pandemic economy while allowing us to strengthen our physical retail presence in Asia, and empower even more people to embrace an active and healthy lifestyle.”