K11 malls record historical growth in sales of up to 120 pc

K11 Group announced Monday that the K11 MUSEA and K11 Art Mall recorded an up to 120 percent surge in overall sales, with more than 30 percent of tenants achieving an all-time high sales performance since their opening.

The groups stated that during the summer period, the sales per capita of the two malls surpassed the pre-pandemic levels due to the revival of the tourism industry and the unique “cultural commerce” business model.

Overall sales at K11 MUSEA jumped 120 percent while recording a 260 percent jump in sales among luxury brands.

The two malls also recorded the highest footfall since their respective openings.

The black card members, who are the highest-spending consumer group that spends at least HK$300,000 annually in the malls, saw a significant increase of 210 percent compared to the pre-pandemic level, with the total amount of spending also reaching approximately HK$1.1 billion in the past 12 months.

The wide array of activities curated by the two malls fueled an unprecedented rise in visitors and sales, with over 30 percent of their tenants—spanning dining, retail, and entertainment—setting new sales records. 

K11 Group stated that they will continue to launch various art and cultural activities, such as the upcoming Digital Art Fair, and enhance their tenant mix.