As Hong Kong’s luxury watch and jewellery retailers bear the brunt of falling mainland tourist numbers and an economic downturn, sportswear brands are booming.
“Hongkongers are becoming more health conscious and buying more sporting goods,”said Terence Chan, head of retail in Hong Kong with global real estate consultant JLL. “Their sales are resistant to the economic headwinds.”
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More than 100,000 sq ft of retail space in shopping malls and street-level shops have been taken by brands focusing on athletic gear or sports-related services over the last 12 months, according to a report from JLL.
Nike plans to open a new outlet spread over 12,000 sq ft in the bustling Tsim Sha Tsui district, while Adidas has leased more than 48,000 sq ft in Central, Causeway Bay, and Tsim Sha Tsui – the city’s prime shopping locations to launch their flagship stores.
“Sports-focused brands were very active in the leasing market during the first six months of this year,”the report said.
Upscale shopping malls such as IFC in Central and Pacific Place in Admiralty, where luxury brands such as Gucci and Chanel traditionally cluster, have also joined the push for having more sporting goods retailers in their facilities.