VERSACE open flagship in Central

Market said that monthly more than $2.5 million,lower 30% than two years ago

news (reporter Liang Yueqin) legitimate luxury goods industry into the winter, designer contraction occasion in Hong Kong, and ARMANI, GUCCI etc. tied for VERSACE (Versace) Italian fashion brand one of the four, but adverse economic expansion in Hong Kong, rent under the Central Bank on the ground and first floors Suppliers Building total 12,648 sq ft, opened Asia's largest flagship store, expected in October (the fourth quarter) opened. Market estimates, the shop monthly $2.5 million to 3.16 million , representing a reduction of about two years ago, called the rent 25-30%.

Queen's Road Central has sought international brands entered the 12th Shanghai Commercial Bank Building basement to the first floor shop section, yesterday the implementation by the Italian luxury brand VERSACE rented ground and first floors totaling 12,648 feet, as Asia's largest flagship store. It is reported that a three-year lease, rent again after three years. VERSACE Hong Kong spokesman said that the forthcoming opening of the flagship store, Central, Hong Kong will be the first five stores.

Area of ​​12,000 square feet,lease for 6 years

News that two years ago this project commercially basement to the first floor of the three shops totaling 21,000 feet called rent $6 million to $7 million yuan (ie Ft Rent $285-333), but now the retail market Road into the winter, Central shop rents also greatly reduced more than 20%, on a large supplier to suck off admission, material sq.ft rent only about $200-250, compared with two years ago called rent greatly reduced 25-30%. Industry estimates put the lease 12,000 sq ft shop rental material from $2.5 to 3.16 million.

Group revenues rose 17.5% last year

Although the global luxury goods industry into the winter, but VERSACE Group Asia Pacific in 2015 recorded a growth in Greater China has moreIs valued market. Brand Group Chief Executive Gian Giacomo Ferraris said that Hong Kong is a very important market VERSACE, opening new stores reflect the brand continues to develop in this area and confidence in the future, this shop will provide a unique distinguished luxury shopping experience of customers in Hong Kong.

In fact, since 2014, the sale of a minority stake to Blackstone, VERSACE focus on the expansion of the retail business, at least 30 new stores last year, the last full year earnings report shows Group revenues amounted to 645 million euros, compared with 548.7 million euros in 2014 grew 17.5% Excluding the favorable impact of a weaker euro increased by 8.6%. Among them, retail sales rose 28.9% to 400.7 million euros. Online sales have increased 31.2%, including perfumes, glasses authorized revenue and interior design have 17% growth, reaching 4,940 million euros, while the wholesale channel fell slightly by 0.4% to 194.9 million euros. Overall revenue rose 17.5% to 645 million euros.

Office building sq.ft Rent 106 yuan

GUO Xi Zhi on Commercial Bank Managing Director and Chief Executive Officer said he was honored to become the Commercial Bank Building, VERSACE Asia's largest flagship store location. He noted that the building of which 68,800 sq ft will be for the head office and the head office will be officially moved into use in August. Meanwhile, all office floors have been fully leased, the estimated total lettable area of ​​over 70,000 feet, with an average rent of $106 per square foot.

Retrieve information, the Commercial Bank Building, formerly known as two buildings, 12 Queen's Road Shanghai Commercial Bank Building, commercially spend about 1.388 billion yuan in 2008 to China Aviation Group acquired the whole block 10 Queen's Road CNAC Group Building and thereafter with the Group headquarters to expand the development of real estate consolidation, reconstruction.

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