Harbour City Owners Still Have Increased Rent Space And Sports Brand Growth.

I believe you have some understanding of the downturn in Hongkong's retail industry. In our continuing reports, we have reported events from Hongkong's SOGO Department store and many luxury brands in Hongkong.

But the performance report of Hongkong and Times Square, which is called the barometer of the retail industry in Harbour City in recent days, is to tell you exactly how low the retail industry in Hongkong has been.

Recently, Harbour City issued a report that the whole year of 2015

Retail sales plunged 12.1%, a big increase from 7.1% in the first half.

The drop is even more severe, at 12.8%.

Due to the sharp decline in the number of mainland visitors due to political reasons and the appreciation of the dollar caused by the strong dollar, Hongkong's tourism industry continued to decline, and more tourists turned to Europe and Japan and South Korea to continue to lower the consumption of Hongkong's retail industry relying on tourism consumption.

However, despite the release of the group

The short term recovery of retail industry is hopeless, but the group still says it has not cut the rent.

Because in addition to luxury goods, other categories still recorded growth, of which sports brands are leading strong growth.

As a result of the fact that there are not many merchants who are closing down because of the rent problem, many brands are intending to enter. Therefore, Harbour City has a higher bargaining power.

The owner of Harbour City's Kowloon warehouse group said that although the revenue of Harbour City mall increased by 4.8% in 2015, the rental rate reached nearly 100%. However, due to the large sale area of luxury goods and the influence of Mong Kok incident, the retail sales of Harbour City and Times Square shopping malls in January this year still maintained a 12% decline, which is far larger than the 4% decline of Hongkong's total retail sales.