President of Asia Pacific, MSD
Opening another shopping mall in Hong Kong may not appear the most transformational of business strategies, but lifestyle retail brand K11 is not like other malls.
Whereas most malls focus on the retail experience, the vision of CEO and Executive Vice-Chairman of New World Development and K11 founder Adrian Cheng has been to create a destination for art, culture, design, and commerce, a place where luxury brands share space with permanent art collections.
Cheng is also targeting Asian millennials as the future “super consumers” driving retail spending while also demanding a more fulfilling shopping experience.
Last year Cheng completed the opening of Victoria Dockside in a prestigious Kowloon waterfront location. Alongside the cultural retail destination K11 MUSEA retail and arts center, the project includes service apartments, offices, and a luxury hotel. In total, the build involved participation of over 100 international and local architects and designers.
Victoria Dockside is the second K11-branded complex in the city. Cheng’s previous shopping center, the K11 Art Mall, opened in 2009.
"We expect K11 MUSEA will be Hong Kong and Asia’s new cultural destination, where global millennials can come together to discover, or rediscover, their muse," Cheng tells Business Insider.