Audemars Piguet to reportedly drop Asia flagship in Central

Luxury Swiss watchmaker Audemars Piguet is reportedly opening one of its largest flagship stores in Asia at New World Development's New World Tower in Central, betting on Hong Kong's luxury retail market.

Audemars Piguet will open a 13,000-square-foot space in New World Tower, with monthly rent exceeding HK$2 million, according to Bloomberg. The watchmaker is taking over the space from Emperor Watch & Jewellery, whose lease expires next February.

Audemars Piguet's New World Tower store will feature a dedicated VIP lounge serving its core high-end clients, according to the report. It also plans to lease about 7,000 square feet in the nearby Henley Building for an experiential store at a monthly rent of around HK$1 million, further expanding its footprint in Central and showcasing Audemars Piguet's heritage and rare collections.

The lease runs for three years with an option to renew for two more, according to Bloomberg. On the other hand, current tenant Emperor Watch & Jewellery told HK01 that its flagship store at New World Tower in Central will move out by year-end, but stressed that adding or removing retail locations is a normal commercial consideration. The group is currently actively looking for a suitable site in Central's core retail district.

MARKETING-INTERACTIVE has reached out to NWD and Audemars Piguet respectively for more information.

Don’t miss: Lacoste unveils new flagship in HK's historic Pedder Building

Audemars Piguet is not the only globally renowned brand expanding in Hong Kong. Most recently, US yoga and activewear brand ALO celebrated its first Greater China flagship at Hong Kong’s K11 MUSEA with a Victoria Harbour drone show and a surprise  appearance by BLACKPINK's Jisoo. The new harbourfront store covers over 7,000 square feet across two floors.

Back in May, Lascoste launched its new Hong Kong flagship store in the heart of Central, moving into the Grade I historic Pedder Building. Situated on one of Hong Kong Island’s most prestigious avenues, the landmark location mirrors Lacoste’s own rich history dating back to 1933, signaling a long-term commitment to the city’s cultural dynamism. Meanwhile, Louis Vuitton is set to launch a 40,000-square-foot flagship at New World Development's K11 Musea before year-end.

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