People familiar with the matter revealed that Prada SPA, Italian luxury group, is renting a 8,000 -square -foot store in the Luxury Shopping Center in Tsim Sha Tsui, Hong Kong.
Bloomberg reported on Monday (July 29) that people familiar with the matter said that the construction of the two -story stores is about to begin, and it is expected to open early next year.Some insiders said that the rental part depends on the sales of the store.
This will be the first large new store opened in Hong Kong for many years.The Group closed the flagship store located in Causeway Bay in 2020 and ended one of the most expensive retail leases in the city. At that time, the monthly rent was HK $ 9 million (S $ 1.66 million).According to the company's website, Prada had nine stores in Hong Kong during its heyday, and currently operated six.
Bloomberg reported that attracted house prices far below the level before the epidemic, global luxury brands are increasingly returning to the core business district of Hong Kong.According to the research of Global Global, the real estate consulting company, in Tsim Sha Tsui, where K11 Musea is located, the average rent of the main shopping street stores is still 45%lower than the 2019 level.
The Hong Kong high -end shopping center has accelerated the development of luxury goods and increased its attractiveness to the rich class. Even if social turmoil and economic slowdown have been slowed over the years, their expenditure is still strong.
Report also pointed out that Hong Kong's wealthy class has brought a certain stability to global brands in order to cope with the decline in sales in mainland China.Hong Kong Shopping Center is still one of the most popular attractions in mainland China.
