Despite the decline of tourist arrivals into Hong Kong last year and challenges in the luxury retail sector, Italian-owned mall operator RDM has just opened its first Hong Kong outlet.
Located in the KC100 complex near Kwai Hing MTR station, Florentia Village is hoping to attract 500,000 customers this year thanks to its proximity to the airport and mainland immigration checkpoints.
The 60,000-sqft boutique-style mall comprises upscale luxury brands, such as Prada, Salvatore Ferragamo, Versace and Kenzo.
Of its visitors, the mall is forecasting 50 per cent to be mainlanders, 25 per cent Hong Kongers and the remaining 25 per cent international travellers and expats.
With three existing malls in China – Shanghai, Tianjin and Guangzhou – RDM is confident their brand name will travel.
“Our brand is growing fast in China, so having the same type of operation in a different approach with a very strong mix of luxury brands, we are sure to attract customers from China visiting Hong Kong,” said Maurizio Lupi, managing director of RDM Asia.
In China the mall is expecting double-digit turnover growth. Here in Hong Kong, perhaps the optimistic figures from December 2016, when mainland visitor numbers increased 6.1 per cent to 3.95 million, may bear out Lupi’s certainty.