Inside K11's newly opened Shanghai location. (Creative Hunt)
"They want to get a taste of culture at shopping centers. ... They will get bored if the shopping malls display and sell only a variety of luxury items."#
-Adrian Cheng Chi-kong, executive director of New World Development, on Chinese demand for the company's recently opened K11 "art mall" in Shanghai#
(SCMP)
The K11 "shopping and gallery experience center" franchise celebrated its official Shanghai opening in June, and the grandson of property tycoon Cheng Yu-tung talked to South China Morning Post about its appeal with mainland luxury shoppers. In the quote above, Cheng explains why the concept is such a success, and goes on to state that this demand for such a shopping experience stems from the fact that "Well-to-do Chinese shoppers are mostly young people aged between 25 and 40."