K11 Art Mall in Hong Kong reported a “robust” year-on-year revenue increase of more than 15 per cent and 100 per cent occupancy.
The Hong Kong retailer claimed 40 new tenants signed up or renewed their leases, accounting for 40 per cent of all tenants with 100 per cent occupancy. Year-on-year sales growth of more than 15 per cent was recorded between July and November, surpassing the 0.8 per cent growth in overall retail sales reported by the government’s Census and Statistics Department.
Christmas and New Year’s Eve sales and attendance both experienced double-digit year-over-year growth, with the single-day visitor total reaching a 10-year high. A 20 per cent increase in K11 Art Mall loyalty program memberships was also recorded.
Tenants in the coffee & confectionery and lifestyle categories experienced sales increases of 40 per cent and 80 per cent, respectively.
Over the past year, K11 Art Mall has launched a wide range of domestic and foreign creative brands, including Ikea, Asics, and Popcorn Supply, as part of its ongoing efforts to optimise its tenant mix.
K11 Art Mall has also worked with New World Club and FTLife to create exclusive advantages in an effort to draw in a wider range of clients, including the younger generation, through the New World Group ecosystem.
Last year, K11 announced its partnership with Amoy Transit Rail to build the first K11 Select Art Mall in Fujian, following the launch of its US$1.4 billion flagship project in Shenzhen.