Retail in Asia

In Shops

HK’s Lane Crawford move drives up rents in malls

Burberry’s move into Hong Kong’s Pacific Place mall has set off a chain reaction: bigger businesses are ousting smaller ones, possibly forcing rent rises.

At Pacific Place Burberry will move into the space now occupied by Lane Crawford – taking up 21,000 square feet over two floors – later this year.

Lane Crawford this month will move into neighbouring Queensway Plaza, sending shockwaves through the government-owned shopping centre. The store is forcing out small businesses and taking up most of the one-storey shop spaces.

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(Source: scmp.com)