K11 MUSEA Defies Market Trends, Doubling 7 Luxury Brands’ Footprint with Expansion to More Than 30,000 Square Feet

HONG KONG SAR - Media OutReach Newswire - 19 September 2024 - Victoria Dockside, K11 Art and Cultural District ushers in a new era of luxury. Several of the world's most prestigious luxury brands plan to significantly expand their footprint at K11 MUSEA, underscoring their confidence in K11 Group's pioneering "Cultural Commerce" business model which seamlessly integrates culture and retail. Over the next 4 years, brands such as Audemars Piguet, Balenciaga, Brunello Cucinelli, Loewe, Saint Laurent and Van Cleef & Arpels will give their stores a facelift, while Prada is set to unveil their inaugural store at K11 MUSEA, collectively doubling the luxury footprint of these 7 brands at K11 MUSEA.

K11 MUSEA set a new single-day footfall record in the summer of 2024. Food & beverage and retail sales were up by nearly 30% and tourists' sales increased by 10%.

Taking advantage of K11 MUSEA's prime location, high visitor sales, and growing foot traffic, the latest stores by some of the world's most renowned luxury brands add to the allure of this unique art and cultural destination while expanding their footprint to more than 30,000 square feet. This underscores K11 MUSEA's enduring appeal as a destination for luxury shoppers seeking an unparalleled shopping experience with new featured duplexes and new concept stores.

"We are excited that many leading luxury brands are expanding at K11 MUSEA, especially in the context of current Hong Kong retail sector," said Richard Cheung, Executive Vice President of K11 Group. "This is largely the result of the strong performance and very high sales productivity at their current stores at K11 MUSEA. This reinforces our commitment to the cultural commerce model which benefits both customers and brand partners at the K11 Art and Cultural District."

Victoria Dockside is known for collaborating with esteemed luxury brands to create show-stopping events in the city. Over the past year, visitors were treated to the first ever Louis Vuitton's Men's Pre-Fall 2024 Show, the magical Dior Carousel of Christmas Dreams, and Gucci's first collection under the helm of new creative director Sabato De Sarno, Gucci Ancora. Time and time again, luxury brands choose to leverage K11 Group's unique cultural retail concept while taking advantage of the breathtaking Victoria Harbour backdrop to launch large-scale events. These brands can also choose to tap into K11 Group's database of high-end customers known as KLUB 11 Black Card members, inviting them to exclusive trunk shows and jewelry events that are supported by K11 Group's VIP facilities.

Throughout the year, Victoria Dockside stands out as a must-visit destination as it successfully hosts mega events that bring in international tourists and day visitors. Most recently this summer, "100% DORAEMON & FRIENDS" Tour (Hong Kong) exhibition presented by AllRightsReserved (ARR) and Fujiko Pro, led K11 MUSEA to report food and beverage and retail sales up by nearly 30% and tourists' sales increased by 10%.
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About K11 Group

K11 Group is a global cultural brand founded in 2008 by renowned entrepreneur Dr Adrian Cheng. The company's unique and original business model, "Cultural Commerce", blends culture, art, and commerce to create an ecosystem that caters to all walks of life. With its headquarters in Hong Kong, the Group has expanded its reach and influence, achieving a significant presence across Greater China. Upholding its core values of Art, People, and Nature, the Group aims to democratise art, incubate cultural talents, advocate sustainable development, and inspire the new generations. In addition to its groundbreaking multi-development project in Hong Kong, Victoria Dockside, K11 Art and Cultural District, the Group operates a wide range of businesses, including retail, workplace, hospitality, and luxury residence.

Looking ahead to the future, K11 Group is expected to attain a footprint of 38 projects with an approximate GFA of 3 million square meters in 12 cities across Greater China upon completion, and it continues setting new standards in "Cultural Commerce".

News Source: K11 Group