K11 MUSEA sales up 40%

New World Development said on September 1 that K11 MUSEA posted about 40% year-on-year sales growth in the first half of 2026, a record for the same period since the Hong Kong mall opened. The company said member spending also reached a record high, with May marking a two-and-a-half-year monthly peak. Watches and jewellery led the gains, with member spending in that category up 80% from a year earlier. ### Why is K11 MUSEA outperforming when Hong Kong retail is recovering more slowly? Hong Kong’s Census and Statistics Department said July retail sales rose 4.5% from a year earlier to HK$31 billion, extending growth to a 15th straight month. Within that, jewellery, watches and clocks, and valuable gifts rose 19.7%, while wearing apparel fell 1.8%. (publicnow.com) K11 MUSEA’s first-half sales growth of about 40% therefore ran well ahead of the wider market’s recent pace. New World said the mall’s brand-upgrade program, launched in the second half of 2024, had brought in or expanded multiple international luxury tenants, helping lift high-end sales. ### What changed inside the mall? (info.gov.hk) The second half of 2024 was the start of K11 MUSEA’s brand-upgrade program, according to New World. Since then, the company said several international luxury brands have opened or enlarged stores at the property. HK01 and other local reports, citing New World, said recent additions included a new Miu Miu store, a two-floor Max Mara store and a new IWC Schaffhausen boutique. (publicnow.com) New World said newly opened brands recorded average sales growth of more than 30%, which K11 Hong Kong Chief Executive Adrian Cheng’s team cited as evidence the upgrade strategy was working. ### Why do watches and jewellery matter so much here? Watches and jewellery were the standout category at K11 MUSEA in the first half, with member spending up 80% year on year, New World said. The company also said member spending at international luxury brands rose 20% over the same period. That category strength lines up with the broader Hong Kong retail data. (hk01.com) Official figures for July showed jewellery, watches and clocks, and valuable gifts were among the fastest-growing segments in the city, suggesting high-end discretionary spending remains concentrated in selected categories rather than spread evenly across retail. (publicnow.com) ### Is tourist traffic helping drive the rebound? Summer traffic appears to have added to the momentum. New World said tourist spending at K11 MUSEA rose 50% year on year during the summer period, helped by exhibitions and events including the “CHIIKAWA ARTIVERSE” show. The company also said August member spending increased 30%. (info.gov.hk) K11 Hong Kong Chief Executive Adrian Cheng said continued traffic growth and record sales in the first half reflected “the strong resilience” of K11’s high-net-worth customer base and the project’s ability to convert footfall into sales. That assessment was New World’s explanation for the mall’s performance, not an official market-wide judgment. (hk01.com) ### What comes next for K11 MUSEA? New World said K11 MUSEA expects to complete the first phase of its brand-upgrade program by the end of 2026. The company said more international luxury brands are scheduled to open in the fourth quarter, including Prada. October 2, 2026 is the Hong Kong Census and Statistics Department’s next scheduled retail sales release, according to the department’s retail calendar. (hk01.com) That will give the next official reading on whether the citywide recovery is keeping pace with the stronger growth reported by luxury-led destinations such as K11 MUSEA. (censtatd.gov.hk) (hkcd.com)