K11 Musea and K11 Art Mall have reported the largest footfalls since their respective launches, with overall sales also reaching their highest yet.
Sales at K11 Musea increased by 120 per cent from pre-pandemic levels as its ‘cultural commerce’ model continues to attract high-end consumers; sales among luxury brands increased by 260 per cent from before Covid. In addition, nearly 30 per cent of tenants at K11 Musea and K11 Art Mall have achieved record-breaking sales results since their opening, according to the mall operator.
The ‘cultural commerce’ business strategy, says K11, not only attracts affluent customers and strong footfall but also produces a strong demand for K11 shop space among premium businesses. K11 Musea has continually maintained an occupancy rate of 98 per cent.
The business model is widely embraced by tenants, leading to the store expansions of outdoor brand National Geographic and Swiss watch brand Swatch within K11 Musea, as well an upgrade in tenant mix in K11 Art Mall, including the Arc’teryx new concept store, the opening of Lush, Danish minimalist waterproof clothing brand Rains, and the largest store of Taier Chinese SauerKraut Fish in Hong Kong.
K11 Musea will add more international brands to its lineup, including Maison Kitsune and Maison Margiela Fragrances. It will also include the Digital Art Fair, an exhibition of digital art.
Meanwhile, K11 Art Mall is attracting new customers with the launch of 11 retro fashion boutiques on Level 2, which will be transformed into a dedicated floor celebrating local fashion and personality.
