Hong Kong

Hong Kong Archives - Page 13 of 16 - Inside Retail Asia

Hong Kong still the world’s costliest retail city

Hong Kong is by far the world’s most expensive city for global retailers, says global property advisor CBRE. In its Q4 2013 Global Retail Rents report, CBRE said Hong Kong (US$4334 per sqft per annum) is the world’s most expensive location for prime retail rents by a substantial margin, followed by New York (US$3300 per sqft per annum), Paris (US$1452 per sqft per annum) and London (US$1356 per sqft per annum). Hong Kong has held this position for the past two years. “Russell Street …

Korean beauty brand enters Hong Kong

South Korean cosmetics brand Nature Republic has expanded its reach to Hong Kong. Nature Republic has opened its first store in Hong Kong in Mong Kok. The store is aimed at increasing awareness among Chinese consumers. “We will open two or three additional stores in Causeway Bay and other cities this year. Since Hong Kong leads the beauty and fashion trend in China, we will use our Hong Kong branch as a bridgehead to expand overseas market and strengthen our brand awareness in China,” …

Aesop unveils new Hong Kong store

Australian cosmetics brand Aesop has opened its ninth store in Hong Kong at Elements shopping mall. The store marries traditional materials and techniques with orderly contemporary design. Slotted timber is used for the shopfront and ceiling. Along the left side of the entry way, it morphs gently into a plaster seating bench that offers a gesture of welcome to passers-by, while also effecting aesthetic balance. The off-white built-in plaster shelving was hand-crafted on site. Hand-t…

Hong Kong retail sales climb

Hong Kong recorded retail sales growth of 6.4 per cent year over year during December. The growth was driven by increased spending in health and beauty and clothing. MasterCard Advisors expects retail spending to continue to grow at such a rate. “This is the most important social and economic event of the year for China so, while we expect to see that reflected in retail sales next month,” said Sarah Quinlan, senior VP, market insights for MasterCard Advisors. As one of the world’s…

Mikimoto unveils new boutique concept

Japanese jewellery brand Mikimoto has unveiled a new boutique concept in Hong Kong’s IFC Mall. Retail designer and strategic brand consultancy Passionfruit Asia has helped Mikimoto create the boutique. Wedded to conservative Japanese values, Mikimoto’s stores have traditionally been formal featuring rich dark woods and angular fixtures. For the new boutique at IFC mall, Mikimoto was encouraged to break away from its conventional store template and establish itself as a more approachable je…

Woodland to open Hong Kong store

India’s Woodland is to open its first independent store in Hong Kong – and a warehouse facility in Dubai. “We will soon set up our first independent outlet of about 1000 sqft in Hong Kong,” said Woodland Shoes MD Harkirat Singh. That would be an addition to its 50 multi-brand outlets already existing in Hong Kong. Parent company Aero Group also plans to open 60 new stores in India next year on top of the more than 500 in the country. “There is a potential for opening outlets in metro…

Prada revamps Hong Kong store

Luxury brand Prada has given its store at Landmark Central, Hong Kong, a makeover. The 920 sqm boutique extends over two floors, with the women’s collection on the ground floor and menswear on the upper level. The black marble-clad base of the storefront is topped by a polished louvered facade in shades of gold and backlit, creating an illusion of perceived movement from the outside, both during the day and at night. The double-height glass wall revealing the interior of the second floo…

Huge divide in APAC high street rents

Hong Kong’s high street rents are the most expensive in Asia Pacific, with huge price diversity across the region. Strong demand for quality retail space, coupled with limited supply, has underpinned rising high street rents in prime Asia Pacific markets over the third quarter of the year, according to Jones Lang LaSalle’s quarterly Retail Index. The index, which tracks the rental performance of prime retail space across key markets in Asia Pacific, highlights a stark divergence between …

Bossini cautious despite profit

Bossini’s profit for the year to June rose to HK$22 million (US$2.8 million) from HK$16 million (US$2.06 million) in 2012. Despite the profit rise, the Hong Kong retailer says it remains cautious as it expects challenges for the apparel retailing industry to continue. “The financial year 2013/14 continues to be challenging with adverse dynamics in the apparel retailing industry,” said CEO Edmund Mak. The company’s revenue declined from HK$2.7 billion in 2012 to HK$2.5 billion while gros…

Bremont debuts in HK

British luxury watch brand Bremont has opened its first overseas boutique in Hong Kong. Located on Lyndhurst Terrace in Central Hong Kong, the boutique spans 2000 sqft and will introduce the brand in Asia. The store follows the success of its standalone flagship in London, which won “UK Retail Store of the Year” at the Retail Jeweller awards in July 2013. It mimics the design of the London space but uses more innovative technologies which portray the stories behind each watch that Bremo…

Aeon China in the red

Department store and supermarket operator posts net loss of $3.4 million in China, Hong Kong.

HK leads APAC in mobile web use

Massive uptake of web browsing on smartphones.