Prada reportedly rented a space at K11 Musea, expected to open early next year

Prada is set to lease an 8,000 square foot space at K11 Musea in Hong Kong, with plans to open early next year. This will be Prada's first larger-scale new store in Hong Kong. Due to lower rents compared to pre-pandemic levels, more luxury brands are returning to Hong Kong's core commercial areas. The average rent in the area where K11 Musea is located is still 45% lower than in 2019, which is expected to attract more global luxury brands back to Hong Kong. The Wharf Group also plans to upgrade its retail properties in Central, with an investment of approximately HKD 7.8 billion, introducing luxury brands such as Hermes, Louis Vuitton, Dior, and CHANEL