The French luxury house has set up scaffolding at the space, which overlooks the Avenue of Stars, a scenic waterfront promenade with sweeping views of Victoria Harbour and the Hong Kong skyline.
Louis Vuitton has not confirmed its exact plans for the space, but people familiar with the matter said the outlet will span about 40,000 square feet, the majority of which will feature non-retail elements, including a museum, a cafe and an exclusive lounge for VIP customers. The store is expected to be one of the brand’s largest in Asia and open by the end of 2026, Bloomberg reported in June, when the agreement for the megastore was secured.
Industry sources told the South China Morning Post that its format will be similar to the three-level, ship-shaped store that Louis Vuitton unveiled in Shanghai last month.
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K11 Musea Louis Vuitton scaffolding. Photo by SCMP via Reuters |
The location puts the French brand at the world’s priciest retail market. In the fourth quarter of 2024, prime rents in Tsim Sha Tsui were the highest globally at 17,132 euros (US$20,177) per square meter per annum, surpassing even New York’s Madison Avenue and London’s Bond Street, according to property consultancy Savills.
Developer New World Development, controlled by the billionaire Cheng family, is said to be charging rent partly based on the store’s turnover.
The new store comes as global luxury brands adjust their strategies in China, where economic uncertainty has made once-free-spending consumers more cautious and selective.
Yet even as luxury goods take a hit, high net worth individuals continue to spend on premium experiences like five-star hotels, fine dining and travel. Hence, brands are investing in physical stores that also offer personalized experiences to draw in customers.
K11 Musea, situated near tourist hotspots and featuring striking artistic design, has recently become a popular stop for both locals and visitors. Louis Vuitton previously staged a fashion show in late 2023 to debut its menswear pre-fall 2024 collection at the same shopping mall.
