Consumer
Hong Kong Billionaire’s Mall to Expand Luxury Space With LVMH, Prada
- Loewe, Saint Laurent among brands to expand in K11 Musea
- New World bets on luxury retail to ease property woes
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Luxury brands are expanding their presence in the flagship Hong Kong mall of the K11 Group, as the high-end real estate arm of billionaire Henry Cheng’s New World Development Co. bets on a rebound in the city’s premium retail sector to help ease property-market woes.
The expansion at K11 Musea in Hong Kong’s prime shopping hub Tsim Sha Tsui includes store upgrades by labels such as LVMH’s Loewe and Kering SA’s Saint Laurent and Balenciaga, as well as a new store by Prada SpA, the group said in a statement to Bloomberg News.