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84% Brand Enters Hongkong Ranks First In Luxury Market

2011/4/19 11:40:00 49

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According to the Hongkong Wen Wei Po, Hongkong's retail market continues to flourish due to the improvement of local economic environment and the rapid growth of the mainland's economy.

Hongkong is still the world's largest retailer in 2011, according to the latest retail business report of real estate consultancy CB Richard Ellis.

Luxury goods

In the market, 84% of the world's luxury goods and business.

fashion

The retailer has been stationed.

Dubai, London and New York attracted 82%, 80% and 71% luxury retailers respectively.

However, due to the limited supply of new shops in Hongkong, the global retail sales fell three places to sixth last year. Last year, the premium rent increased by 12.1% in the Wang District.

Lian Zhihao, senior director of the Hongkong shops and Services Department, said that more than 22 million mainland visitors visited Hong Kong in 2010, accounting for 63% of the total number of visitors.

Hongkong's metropolis image and quality reputation have always been sought after by luxury retailers. Overseas and local retailers are actively looking for business to expand their retail layout. Last year, the main tenancies were signed by high-end jewellery, clocks and international fashion retailers.

Hongkong is still the largest Asian retailer in the world, with about 40.9% of retailers selling high-end stores.

brand

Besides, there are also middle end brands trying to enter.

Lian Zhihao pointed out that in addition to the huge consumption power brought by mainland tourists, the relatively low value of the Hong Kong dollar also provided additional opportunities for international retailers to enter Hongkong. The soon to be completed Tongluowan JINGWAH center has been renting the Forever Hysan 21, the first time to come to Hong Kong, and the nearby Place brand is also targeting mid-range brand tenants.

However, in terms of global ranking, Hong Kong has dropped from third last year to sixth, and its leadership is not unthreatened.

CB Richard Ellis refers to the lack of new shops in the core areas of Hong Kong, especially the supply of large berths, which has led many retailers to open business.

The high quality retail shops in Tsim Sha Tsui, Guangdong road and Tongluowan are extremely tight. Last year, the premium location bunk rents rose by 12.1% year-on-year, making Hongkong the third most expensive city in the world. The high rent in Hongkong is very difficult for the new tenants who intend to enter the overseas market or the existing tenants who intend to expand their shops.

In other areas, Singapore, Tokyo and Beijing also rank among the ten largest luxury goods markets. The company believes that Asia continues to be the main target market for luxury brands. Retailers are opening stores in Asia, and some even have flagship stores for larger scale products, showing that consumers in the Asian region are getting richer and richer, and that they are in the rush for the latest fashion trends and luxury brands.

Apart from Hongkong, Asian cities do well in international retailers rankings, and 4 other cities rank the top 20, Singapore, Beijing, Shanghai and Tokyo.

India ranked the top of the list of new international retail brands. Last year, 8 new international retail brands entered the country.

CB Richard Ellis has investigated the global business network of 323 top retailers in more than 200 cities around the world, which means that global retailers still focus on global expansion, and about 40% of new stores are located outside their home country.

Last year, the number of new stores in the world grew by only 2%, compared with 4% and 12% in 09 and 08 years, indicating that the expansion of retailers has slowed down. But last year, 21 or 5 new retail brands were stationed in 21 countries.