Content about Hong Kong

Columbus, Ohio -- A Wednesday report by Bloomberg said that Limited Brands’ Victoria’s Secret banner would open its first stores in Hong Kong this year.

On the boards are two 1,500-sq.-ft. Victoria’s Secret shops at the International Finance Centre in the Central business district and at New Town Plaza. Bloomberg cited an emailed statement by Limited spokesperson Robin Hoffman.

Los Angeles -- A report released Tuesday by CBRE Group found that Hong Kong and New York City rank number one and two as the world’s most expensive prime retail markets.

London -- Hong Kong is the world’s most expensive retail destination, with retail rents at $3,864 per square foot, according to the quarterly rankings of global retail rents from global property advisor CBRE Group. CBRE cited the city’s significant inbound tourist traffic and continued increases in domestic wealth as fueling demand from international fashion and luxury retailers.
 

If Hong Kong is part of your global expansion initiatives, be prepared to pay the freight.

The most recent retail rent report from CBRE Group labeled Hong Kong as the world’s most expensive retail destination, bettering New York City (No. 2) and Sydney, Australia (No. 3).

Miami -- Swire Properties announced it has broken ground on its Brickell CitiCentre project, a $1.05 billion mixed-use development that is billed as the largest private sector venture of its kind in Miami history.

Footwear and accessories company Aldo puts its best foot forward at its new concept store in IFC Mall, Hong Kong. The format complements the luxurious aesthetic of the center while maintaining the chain’s roots with its fashion-forward and youthful ambience. 

Peoria, Ill. -- Christopher M. West, COO and partner of Cullinan Properties, announced several additions to the Cullinan team.

Shawn Luesse has been hired as project manager for the Streets of St. Charles mixed-use development in metro St. Louis. Luesse was previously director of development for the G & T Group, based in Champaign, Ill.

Seth Marks has joined the team as leasing representative, assisting with the retail, restaurant and entertainment leasing for The Streets of St. Charles and the Quincy Mall in Quincy, Ill.

Hong Kong -- Italian fashion house Prada, which is preparing for an initial public offering of about $2 billion in Hong Kong, said it plans to use most of the proceeds on expansion and renovation of its stores over the next 18 months.

The Milan-based company said it plans to add a net total of about 80 directly operated stores by the end of January 2012, most of them in the Asia Pacific region, where it sees "substantial potential for growth," Prada said in the a regulatory filing.

New York City -- Forever 21’s massive Times Square flagship, a shop that sells ice cream made to order and frozen with liquid nitrogen, and a new beauty-and-wellness concept in Hong Kong are on a list of the hottest new stores around the globe.

The list comes from the folks behind the cutting-edge, London-based retail consultancy echochamber.com: