Advertisement
Hong Kong property
Business

Li-Ning, Dior among luxury brands flocking to Canton Road in ‘iconic’ Tsim Sha Tsui with eye on Hong Kong’s borders reopening

  • Tsim Sha Tsui is an iconic business district, says Li-Ning, which is paying HK$2 million a month for a new 7,000 sq ft flagship store on Canton Road
  • Tsim Sha Tsui ‘a great location for brands to make a statement to the market’: CBRE executive

Reading Time:3 minutes
Why you can trust SCMP
Harbour City on Canton Road in Tsim Sha Tsui. Hong Kong’s largest shopping centre is set to open about 100 new stores. Photo: Handout
Cheryl Arcibal

Tsim Sha Tsui’s Canton Road – once buzzing with tourists – has over the past two years become largely deserted, as the border between Hong Kong and mainland China remained closed to stem the spread of the coronavirus pandemic.

Advertisement

In recent months, however, this retail haven has been showing signs of recovery, with Chinese and western brands choosing the district for flagship stores or the expansion of their current foot print despite the continued absence of tourists.

There are several likely reasons for this: landlords have become more flexible with lease terms; retailers are anticipating the reopening of Hong Kong’s border; and brands are tapping the local population, which is willing to spend more on luxury items given that the city’s current quarantine requirements discourage them from travel.
Li-Ning, China’s biggest sportswear maker, for instance, is leasing a 7,000 sq ft shop on Canton Road for HK$2 million (US$254,827) a month, 70 per cent lower than the previous tenant’s lease, according to local media. The store in Silvercord, 30 Canton Road, will be Li-Ning’s first flagship store in Hong Kong and is expected to open this year.
Li-Ning’s first flagship store in Hong Kong and is expected to open this year. Photo: Sun Yeung
Li-Ning’s first flagship store in Hong Kong and is expected to open this year. Photo: Sun Yeung

“Tsim Sha Tsui is an iconic business district in Hong Kong,” a Li-Ning spokesman said on Tuesday. The Li-Ning Hong Kong Canton Road flagship will allow local consumers to “fully experience Li-Ning’s professionalism in sports products and services, and better understand our brand philosophy of ‘anything is possible’,” he added.

Advertisement
Advertisement