For big brands, it is growing progressively hard to ignore the rising buying power of Chinese millennials as well as Gen Z consumers. Not merely are they probably to fuel 65 percent of ingesting growth over 2020, however, they are also basically changing how customers as an entire in China shop for luxury goods. For more info visit www.k11musea.com
Adrian Cheng’s new investment
It’s this crowd that Adrian Cheng, the Hong Kong-based businessperson behindhand the K11 shopping malls that mixture art, fashion, plus experiences, is keeping a close eye on. Nowadays, his newest string of investments offers luxury business players additional clues as to whatever will be the subsequent wave of brands plus retail experiences functioning in China.
What is K11 MALL?
Cheng, the Executive VC of the New World Expansion Group, is recognized as the force behindhand Shanghai’s K11 Art Mall, a space that syndicates a museum with retail, making a culture plus lifestyle-focused shopping atmosphere tailor-made to Chinese millennials. By 2023, the mall is estimated to have nine outlets crossways China.
The strategy of Cheng to reach customer
While the mall plays host to main luxury brands in addition to local ones, Cheng moreover uses it as a platform for up plus coming international firms and platforms to extend Chinese consumers over inventive shopping experiences. Previous this year, Cheng was called the vice chairman plus creative consultant of Nowness, a digital media platform previously operated by LVMH, which he plans toward taking offline over K11, saying “I trust personalized O2O experiences are the prospect of retail.”