Victoria Beckham launches Hong Kong store, her first outside Britain
In this article (5)
Today, fashion designer Victoria Beckham launched her first shop outside Britain in Hong Kong as she seeks to tap the Asia market despite a downturn in luxury spending.
Beckham’s store in Hong Kong’s Landmark building lies at the heart of Central.
The British designer did a final check of the store this morning as crowds of fans waited outside, before sweeping out in a fitted black turtleneck dress and oversized sunglasses, surrounded by security.
Beckham’s designs are already available in the region, which is the brand’s fastest-growing market.
Hong Kong is Beckham’s first bricks-and-mortar store outside the UK, designed by London-based architect Farshid Moussavi.
“The process wasn’t easy… opening a store is a huge project. Together with my team, I’ve worked really hard to get to this point,” she told the South China Morning Post.
“I know Asian women really understand luxury, good quality and appreciate when garments are made well – and my clothes are,” Beckham added.
A photo posted on Beckham’s Instagram feed ahead of the launch showed her posing on a plinth next to a mannequin.
Beckham will also attend Saturday’s amfAR AIDS research fundraiser in Hong Kong, where stars including Uma Thurman will take to the red carpet.
The new store has been developed in collaboration with Asian fashion retail brand Joyce, which already carries her collections.
“I know Asian women really understand luxury, good quality and appreciate when garments are made well – and my clothes are,”
The brand aims at wearable luxury, from jeans and tailored shirts to dresses and accessories. Shirts sell online for around $400 with dresses selling upwards from a few hundred US dollars.
“I think she’s going to be very popular here,” said hedge fund manager Sally Zhang, 30, after browsing in the store Friday.
“Compared to other shops, which are too fancy, not fit for the office, this one is quite different,” said Echo Xu, also a hedge fund manager.
Beckham, 41, opened her first shop in London’s Mayfair in September 2014.
But despite Hong Kong shoppers’ warm welcome, Beckham faces challenges after the city posted its worst retail sales decline in 13 years in 2015.
The slump was fuelled by a drop in tourists from mainland China, which has particularly hit sales of luxury goods.
The Hong Kong dollar has strengthened against the yuan, making it more expensive for mainland visitors to shop. Growing anti-China sentiment in the semi-autonomous city is also keeping some away.
Hong Kong billionaire tycoon Li Ka-shing said yesterday that the business environment in the city was at its worst for 20 years, with property and retail “doing worse than during SARS,” referring to the 2003 disease outbreak.
Questions & Answers
Q.What challenges does Victoria Beckham's new Hong Kong store face in the current market?
What challenges does Victoria Beckham's new Hong Kong store face in the current market?
The store opens amid Hong Kong's worst retail sales decline in 13 years, influenced by fewer mainland Chinese tourists and the stronger Hong Kong dollar. This has severely impacted luxury goods sales in the city.
Q.How do Beckham's designs available in the new store compare to other luxury brands?
How do Beckham's designs available in the new store compare to other luxury brands?
The brand focuses on wearable luxury, ranging from jeans and tailored shirts to dresses and accessories. Shoppers noted it was 'quite different' and less 'fancy' than other stores, making it suitable for office wear.
Q.How significant is the Asian market for Victoria Beckham's brand overall?
How significant is the Asian market for Victoria Beckham's brand overall?
The Asian market is identified as the brand's fastest-growing region. Although designs were already available there, this new Hong Kong location marks her first physical store outside the UK.
Q.Who helped develop the new Hong Kong store with Victoria Beckham?
Who helped develop the new Hong Kong store with Victoria Beckham?
The new store was developed in collaboration with Asian fashion retail brand Joyce, which already stocks her collections. London-based architect Farshid Moussavi was responsible for its design.
Reader pulse
Is this a smart move for Beckham?
16,160 votes so far