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.”
