K11 Group, operator of the popular luxury mall K11 Musea in Hong Kong’s Tsim Sha Tsui district, has announced plans to expand its retail space by over 30,000 sq ft. The expansion is set to include six current brands, including Audemars Piguet, Balenciaga, Brunello Cucinelli, Loewe, Saint Laurent, and Van Cleef & Arpels, as well as the debut of new brand Prada.
According to Richard Cheung, executive vice president of K11 Group, this expansion comes as a result of the success and high sales productivity of the current stores at K11 Musea. He adds, “We are thrilled to see so many leading luxury brands choosing to expand at K11 Musea, especially in the current climate of Hong Kong’s retail sector.”
K11 Group, a subsidiary of New World Development, reported record-breaking footfall at the mall this summer. The group also saw a 10% increase in tourist spending and nearly 30% growth in F&B and retail sales this year.
Founded in 2018 by CEO Adrian Cheng, K11 Group is known for its portfolio of properties that showcase art, design, and culture. New World Development, the listed real estate branch of Chow Tai Fook conglomerate, which is controlled by the Cheng family, has holdings in various industries, including property development, hotels, department stores, and jewellery. Other notable subsidiaries include Chow Tai Fook Jewellery Group and Rosewood Hotel Group.
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