More than 70 new stores have set foot at Harbour City and nearly 100 new stores are expected to open in the mall by the end of this year, including retail, food & beverage and more. This comes as Hong Kong’s retail sales rose more than expected in July while the city is trying to recover from covid restrictions.
Starting from last year, Hermès and Salvatore Ferragamo opened their two-storey flagship stores on Canton Road of Harbour City, while Hong Kong’s largest 10,000-square-foot DIOR flagship store, and Miu Miu specialty store also launched on Canton Road this year. In addition, the Swiss and French luxury jewellers Piaget and Van Cleef & Arpels stores will open later in 2022 and 2023 respectively, bringing fresh faces to Canton Road, according to the press release.
Harbour City houses numerous international luxury brands and has become the first choice for many brands’ exclusive stores, including the only CASA LOEWE store in Hong Kong which spans two floors and over 5,000-square-foot. Other international brands such as Patek Philippe, BREITLING, A. Lange & Söhne, LANVIN, Parisine, MALIN+GOETZ have also opened stores in Harbour City this year.
In addition to the new arrivals, several renowned luxury brands have had a facelift or store expansion at Harbour City, including Gucci, Tory Burch, alexanderwang, Rolex, Emperor Jewellery, and Buccellati.
Harbour City has also attracted many luxury brands to establish either their first Hong Kong or Kowloon presence. For instance, the first exclusive concept store of bossini.X in Hong Kong, the first Crocs Energy Store in Hong Kong, the first Kowloon store of local makeup and skincare brand Woke Up Like This, and Hong Kong’s first pop-up stores for Moleskine, Stellam, and more.
Meanwhile, Hong Kong’s retail sales have been recovering since the relaxations of covid restrictions. According to the Census and Statistics Department, the value of total retail sales in July 2022, provisionally estimated at $28.3 billion, increased by 4.1% compared with the same month in 2021. The revised estimate of the value of total retail sales in June 2022 decreased by 1.3% compared with a year earlier. For the first 7 months of 2022 taken together, it was provisionally estimated that the value of total retail sales decreased by 1.7% compared with the same period in 2021.
Of the total retail sales value in July 2022, online sales accounted for 7.9%. The value of online retail sales in that month, provisionally estimated at $2.2 billion, increased by 8.6% compared with the same month in 2021. The revised estimate of online retail sales in June 2022 increased by 0.3% compared with a year earlier. For the first 7 months of 2022 taken together, it was provisionally estimated that the value of online retail sales increased by 21.8% compared with the same period in 2021.
Looking ahead, the government spokesman pointed out that the phase II Consumption Voucher Scheme should render support to consumption demand in the coming months, "Yet tighter financial conditions and development of the local epidemic will also have bearings on the performance of the retail sector. It is vital for the community to work in unison with the Government to bring the epidemic under control," said the spokesperson.
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