K11 MUSEA Accelerates Brand Upgrade Programme to Boost Footfall Conversion Tourist Spending on National Day Golden Week Rises 26% YoY; Athleisure Category Sales Surged Nearly 300% YoY
New World Development Company Limited (“NWD” or the “Group”; Hong Kong stock code: 00017) announced that K11 MUSEA, its international cultural-retail landmark, continues to advance its brand upgrade programme, with a series of renowned international brands opening in the second half of the year. The enhanced tenant mix helped drive business performance during the National Day Golden Week, with footfall reaching a record high for the same period and tourist spending increasing by 26% year-on-year, highlighting K11 MUSEA’s strength in converting footfall into spending. Among the various retail categories, jewellery and watches remained a key sales driver, with the highest single transaction approaching HK$2 million. The athleisure category recorded the strongest growth, led by the highly anticipated debut of American brand Alo Yoga’s first Greater China store, which drove member spending in the category to surge nearly 300% year-on-year and demonstrated the clear success of K11 MUSEA’s brand upgrade programme.
Ms. Huang Shaomei, Echo, Executive Director and Chief Executive Officer of New World Development, said, “Under New World Group’s management, K11 has achieved solid business performance through its distinctive positioning, clear strategy and dedicated professional team. In the last financial year, the K11 segment recorded 9% year-on-year growth, while K11 MUSEA achieved record-high sales. K11 MUSEA recorded another outstanding performance during this year's National Day Golden Week, this further underscores the success of the brand upgrade programme that our team has pursued over the past two years, strengthening K11 MUSEA’s position as a premier destination for visitors during peak tourism seasons while continuing to attract and broaden its high-net-worth customer base. With more internationally renowned brands set to open in the fourth quarter, K11 MUSEA is well positioned to further strengthen its status as a cultural-retail landmark that combines distinctive cultural experiences with strong sales productivity.”
Alo Yoga’s First Greater China Flagship Makes Important Debut at K11 MUSEA; Athleisure Category Delivers Outstanding Sales Growth
In September, ahead of the National Day Golden Week, American athleisure brand Alo Yoga opened its first Greater China store in K11 MUSEA’s duplex harbourfront space, attracting large numbers of local shoppers and tourists. Earlier in the third quarter, French sportswear brand HOKA also opened its largest specialty store in Hong Kong, while globally renowned climbing brand KAILAS launched its first mountaineering concept store in Hong Kong. These new openings gave a significant boost to member spending in the athleisure category, which surged 279% year-on-year during the past National Day Golden Week, making it the strongest-growing retail segment.
High-Net-Worth Customer Spending Remains Strong; International Luxury Brands Sales Jump 75%
In the luxury segment, Prada’s new duplex flagship, Miu Miu’s new boutique and Max Mara’s new two-storey concept store have all opened at K11 MUSEA in recent months. Their arrival helped drive member sales of international luxury brands up by 75% year-on-year during the National Day Golden Week. The fashion category also recorded 25% year-on-year growth, reflecting continued strong spending appetite among high-spending consumers at K11 MUSEA.
Fireworks Harbour-View Restaurants Fully Booked on National Day as Dine-in Restaurants Sales Rise 10% YoY
The National Day fireworks display attracted approximately 380,000 spectators along both sides of Victoria Harbour this year. K11 MUSEA, with its prime location on the harbourfront, also benefited from the festive atmosphere, with all harbour-view restaurants fully booked for dinner reservations on 1 October. To further enrich visitors' dining experience, K11 launched its “Taste of GIN-dulgence” dining campaign, bringing together 12 restaurants across K11 MUSEA and K11 Art Mall to present innovative gin-pairing menus that combined international culinary experiences with Hong Kong’s craft gin culture. During the Golden Week holiday, sales of K11 MUSEA's dine-in restaurants increased by 10% year-on-year.
In addition, K11 MUSEA also hosted major events during this year’s National Day Golden Week, including Hong Kong’s first immersive space exhibition, “Fly Me to the Moon: A 380,000 km Journey”. This series of events drove even stronger footfall at K11 MUSEA, with visitor traffic during this year’s National Day Golden Week rising approximately 12% year on year to a record high for the same period since opening. In the fourth quarter, K11 MUSEA will continue to advance its brand upgrade programme, with more internationally renowned premium brands set to open, further enhancing its high-end retail experience and brand mix.