Tag: Hysan Place

  • Sour note for Lancome-sponsored concert

    Sour note for Lancome-sponsored concert

    Make-up brand Lancome, along with other stores owned by French cosmetics giant L’Oreal, closed in Hong Kong yesterday in the face of protests over the cancelling of a Lancome-sponsored concert featuring a pro-democracy singer.

    As well as Lancome’s booth at Lane Crawford, Times Square, Yves Saint Laurent Beaute and Helena Rubinstein’s booths, as well as Shu Uemura’s store, were all closed. Lancome’s office at Times Square was also shuttered. In Causeway Bay, Lancome counters in Sogo and Hysan Place were both closed, while those for other brands under L’Oreal, such as Shu Uemura, were open.

    Dozens of protesters earlier crowded the Lane Crawford store in Times Square accusing Lancome of bowing to China by cancelling the concert, starring cantopop singer Denise Ho Wan-sze.

    Carrying yellow umbrellas – a symbol of Hong Kong’s democracy movement, which is supported by Ho – and banners in Chinese, English and French, the protesters were shouting: “L’Oreal! No self-censorship.”

    Hong Kong internet users and political activists have also vowed to boycott all brands under the L’Oreal banner, including Lancome, Kiehl’s, Shu Uemura and The Body Shopimes, a tabloid published by the Chinese Communist Party’s People’s Daily newspaper, criticised Lancome for working with Ho. This sparked calls online in China to shun Lancome’s business on the mainland.

    “Tough times”

    Ho says she was saddened by the cancellation of her concert.

    “I am quite shocked that a global brand such as Lancome … would succumb to the pressure from Chinese tabloid news or the Chinese market,” says the 39-year-old singer.

    “In Hong Kong we have been going through really rough times,” she says. “Most of we celebrities wouldn’t dare to speak out for ourselves because we know that self-censorship is really serious right now in Hong Kong. But I wouldn’t think that worldwide brands such as Lancome or L’Oreal would succumb to this kind of pressure.”

    L’Oreal, which counts China as its second strongest market for sales behind the US, says it cancelled the concert because of safety concerns.

    Booked to perform on June 19, Ho wrote on her Facebook page that Lancome’s decision was self-censorship. “When a brand like Lancome has to kneel down to a bullying hegemony… the world’s values have been seriously twisted.”

    Meanwhile, the controversy has escalated on the mainland, with internet users threatening to boycott a host of Hong Kong companies tied to billionaire Richard Li Tzar-kai, whose company PCCW owns the Moov fitness app, which suggested on Monday that it would “employ Denise Ho permanently”.

    Li’s family is also involved with such companies as Johnson and Johnson, Listerine and Watsons. Ho is a spokesperson for Listerine.

    PCCW says that while Richard Li and Moov respect freedom of expression and staunchly oppose Hong Kong independence, Moov has no intention to engage in political matters, and the expression “permanent employment” was used before online comments linked the message to political discussions.

    Meanwhile, Ho says Lancome should stand firm on its core values and moral standards. The singer was  among more than 200 people arrested as the pro-democracy protests ended in December 2014. She was blacklisted by mainland media along with singer Anthony Wong Yiu-ming.

  • Chengdu project takes top award

    Chengdu project takes top award

    Integrated development Chengdu IFS has won the overall 2016 VIVA (Vision, Innovation, Value, Achievement) Best-of-the-Best Design and Development Award, presented in Las Vegas by the International Council of Shopping Centers (ICSC).

    Honouring shopping centre design, the VIVA Awards bring together the gold winners from regional competitions to compete for the international title. Chengdu IFS previously won the Gold Award for New Design and Development at the ICSC Asia Pacific Awards last year.

    Benoy - ICSC VIVA Award 2016

    Wharf China Estates GM (operations) Christina Hau accepted the award along with architectural/graphics consultancy Benoy director Ferdinand Cheung, who led the design for Chengdu IFS. It was the third global win for Benoy at the awards, following Hysan Place, Hong Kong in 2014 and Parc 66, Jinan in 2013.

    Benoy - Chengdu IFS (2)

    Chengdu IFS was conceived as a “city within a city”, the 760,000 sqm development being a one-stop destination uniting retail, dining, business, leisure, entertainment, culture and art. Its 210,000 sqm flagship retail podium is flanked by two Grade-A office towers, a five-star hotel and high-end residential properties in the centre of the city.

  • Tokyo Milk Cheese popup at Hysan Place

    Tokyo Milk Cheese popup at Hysan Place

    Japanese dessert concept Tokyo Milk Cheese opened a one day popup store at Hysan Place on Saturday (January 16).

    Tokyo Milk Cheese uses Hokkaido milk to create sweets which it describes as like “no one has ever made”, using carefully selected milk and high quality cheese, combined with ingredients from not only Japan, but also around the world.

    Tokyo Milk Cheese 1

    The concept of Tokyo Milk Cheese Factory is the factory filled with creativity and innovation, the company explains. “We combine the new with nostalgic, the unexpected with the flavorful.”

    Saturday’s popup will feature the company’s Strawberry Milk Roll, combining fresh strawberries with Hokkaido milk and white chocolate mousse.

    Supplies will be flown in from Japan in time for the popup’s opening.

    Tokyo Milk Cheese has a regular store at Hysan Place, at Level 1/F.

  • Eslite Hong Kong adds second store

    Eslite Hong Kong adds second store

    The ranks of English language bookshops in Hong Kong may be dwindling, but someone forgot to tell Taiwanese retailer Eslite.

    The second store will be themed ‘Travellers, Taiwan, Diversity and Culture’, spread over two floors of Star City at 3 Salisbury Rd. It will feature more than 25,000 titles in Chinese and English and trade 12 hours a day, from 10am to 10pm.

    The doors will open on October 1 with an official launch planned for October 9.

    Eslite has enjoyed huge success with its Hysan Place store, a multi-storey venue which is as much a place to dwell as to buy books. While it cut back its trading hours from 24-seven to a late night closing, its customer numbers and sales turnover have clearly proven there remains a place for the megastore format. Reports suggest the store sold 706,000 books last year and on average its customers buy three books per visit.

    Smaller rivals like Australian chain Dymocks have closed the doors of at least three stores since 2014 and the iconic design and arts-focused Page One closed its Times Square branch last February after 18 years.

    Eslite, which has 48 stores in Taiwan, has a strategy in overseas markets of building a small number of large format stores with broad selection in major cities. It opened in Causeway Bay in August 2012. Besides books, it sells stationery and gift wares created by Taiwanese artists, and includes a cafe.

  • Hysan thrives in subdued market

    Hysan thrives in subdued market

    Hysan Development Co chairman Irene Yun Lien Lee says retail locations with proven shoppers’ traffic that have a bustling and unique surrounding atmosphere have become more sought after as retailers compete in an increasingly challenging market.

    That’s the core of the reason Hysan has thrived in the first half year while street-front shops have struggled and for lease signs have appeared in even the most popular shopping destinations, like Causeway Bay.

    “Hysan has always strived to work closely with and provide support as well as add value to our tenants, especially when shop owners are weathering market uncertainty,” said Lee in a half year report.

    “At Hysan’s portfolio in the first half of 2015, we hosted a number of high-profile customer engagement activities and experiences, including a successful dining programme in May in partnership with our food and beverage tenants and shoppers with HSBC credit cards. We also unveiled Leeisure rewards for shoppers, complemented by the inaugural Leeisure electronic and print magazines.”

    The company this week reported group turnover of HK$1.714 billion, up 7.4 per cent on the same period in 2014. And at the end of June, Hysan’s retail portfolio occupancy was 98 per cent, the office portfolio full, and residential portfolio at 95 per cent.

    Contrast that growth with the 2.1 per cent expansion of Hong Kong’s overall economy in the first quarter and the forecast for the year of between one and three per cent, and a drop in retail sales for the first half of 1.6 per cent.

    Lee said Hysan’s strategy in recent years has been to cluster its Lee Gardens portfolio of retail and office space in Causeway Bay.

    “Our iconic, well-recognised and quality Lee Gardens brand is powered by our ownership cluster. This area concentration magnifies our ability to extract synergies amongst our retail, food and beverage and office tenant mix. It also supports our active marketing and events programs to reinforce our brand, build our customer loyalty program, create a sense of community and ensure awareness as a must-visit destination,” said Lee.

    “This long-term vision has helped maintain a strong tenancy demand, an improved and broadened tenancy mix, active stakeholder engagement, and most of all, a well-regarded and sustainable brand.”

    To further emphasise the brand and highlight Lee Gardens’ heritage and distinct character, all buildings on the eastern half of Hysan’s property portfolio in Causeway Bay have been renamed under the Lee Gardens brand name from June 1.

    “We are proud of our long history and we understand our tenants also wish to be more closely associated with this brand,” said Lee.

    Hysan believes the retail market remains underpinned by “solid local support and demand”.

    “Furthermore, as retailers and landlords adapt to the changes in the shopping patterns, including that of the rising prominence of eCommerce, we are confident that the retail sector will be able to weather the market volatility,” Lee said.

    The group’s retail portfolio turnover grew 6.4 per cent to HK$950 million, including turnover rent of HK$50 million, (down $10 million).

    “Our results reflected positive rental reversions in rental renewals, reviews and new lettings across the portfolio, with an average rental increase of around 35 per cent. They also highlighted our strategy to increase the base rent while shifting the focus away from turnover rent. Around 80 per cent of retail leases expiring in 2015 have already been committed.

    The portfolio was 98 per cent occupied as at 30 June 2015, (down two percentage points from December 31st’s ‘no vacancy’ status).

    Hysan Place, a hub for the younger, fashion-forward crowd, achieved around 80 per cent growth in estimated tenant sales. Hysan says this reflects its attractive retail offerings, including some popular digital products.

    “We have been further refining our tenant mix and focusing on more unisex sports and leisure offerings, which match Hong Kong’s growing demand for a healthier lifestyle. Lululemon, the trend-setting yoga apparel brand, for example, is opening its largest Hong Kong store on the first floor. Another popular sector is cosmetics, and DFS T-Galleria has revamped an entire floor to showcase its beauty offerings with a brand new experiential format and expanded product categories, including popular Korean brands.”

    The premium Lee Gardens hub experienced a drop in estimated tenant sales when compared to the first half of last year. The sales there were inevitably affected by the slowing down in tourist spending, but they were also partially attributable to the life cycle and distribution strategy of certain brands.

    Newcomers including Roger Vivier and Dolce and Gabbana Junior helped reinforce both our adult and children’s offerings, and reflected the ongoing demand for quality space by major brands at the Lee Gardens, the company said. The hub’s food and beverage outlets, from traditional Chinese to trendy Asian and Michelin-starred French cuisines, experienced double-digit percentage growth in sales.

    Lee Theatre hub, the urban fashion and lifestyle destination, achieved around 10 per cent growth in estimated tenant sales. The flagship stores at the lower levels of Lee Theatre Plaza, including Uniqlo, Muji and Aland, have proven popular with shopping families, and these shoppers also make good use of the food and beverage outlets on the upper floors of this Causeway Bay landmark.

    “Our curation of the Leighton Centre ground level as a “sports-themed street” has also been successful in creating a new home for sporty apparel and footwear, such as adidas Originals, Asics and Onitsuka Tiger.”

  • Hysan Place sales soar 22%

    Hysan Place sales soar 22%

    Causeway Bay retail landlord Hysan Development says its core net profit rose 5.9 per cent last year to HK$2.16 billion.

    Turnover rose 5.3 per cent to HK$3.22 billion but the company’s net profit fell 20.4 per cent to HK$4.9 billion due to a smaller ‘fair value gain’ on its investment property valuations.

    The company is now exploring investment opportunities both within Hong Kong and offshore.

    “With a strong balance sheet and proven financial discipline, Hysan is now well-positioned to seek opportunities beyond our core portfolio in Causeway Bay,” said chairman Irene Lee Yun-lien.

    Hysan, which owns Hysan Place and Lee Gardens, said retail sales within its property portfolio increased 22 per cent year-on-year – against a 0.2 per cent fall in Hong Kong’s overall retail market. A major contributor to that was the opening of an Apple store in Hysan Place.

    Deputy chairman and CEO Lau Siu-chuen said the company was unconcerned about possible tightening of mainland travellers access into Hong Kong.

    He said Causeway Bay is far from the Shenzhen border and the centres have not been a popular destination for Chinese using multiple-entry permits.