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Swire Properties Limited and Dickson Concepts announced today their agreement to introduce a new Harvey Nichols flagship store to Pacific Place. The Hong Kong Harvey Nichols store, which is owned by Dickson Concepts, will take up the space currently occupied by Hong Kong Seibu after its lease expires in June 2011. The new shop will open for business in October 2011.
Occupying an area of 83,000 sq ft, the Harvey Nichols flagship store will complement the new look and upgraded facilities at Pacific Place, which has been transformed by a HK$2 billion contemporisation project that began in 2007.
One of the world's leading fashion stores, Harvey Nichols has a reputation for offering the best-edited Fashion, Accessories and Beauty selections and is also a frequent winner of prestigious industry awards for visual merchandising and creative advertising. Its arrival will complement the range of creative and exciting brands at Pacific Place.
To ensure consistency with the Harvey Nichols DNA, Dickson Concepts will work in conjunction with Harvey Nichols UK team to oversee the development and delivery of the shop and its merchandise, while FOUR IV, the London-based interior design company, have been commissioned to design the new flagship. FOUR IV have already created award-winning luxury stores for Harvey Nichols in Edinburgh, Manchester, Istanbul and Ankara.
Martin Cubbon, Swire Properties' Chief Executive, said: "We are delighted to announce the arrival of Harvey Nichols' flagship at Pacific Place. Given Harvey Nichols' international reputation and Dickson Concepts' extensive experience in the retail industry, we are absolutely confident that Harvey Nichols at Pacific Place will offer an outstanding shopping experience to our discerning customers. This new offering is clear evidence of Pacific Place's constant efforts to meet the needs of our shoppers and tenants, as well as demonstrating our great confidence in the prospects for the luxury retail market in Hong Kong.
"The opening of the new Harvey Nichols flagship in the third quarter of 2011 is also an important milestone for Pacific Place, as it will mark the official completion of the HK$2 billion contemporisation project," Cubbon added.
Dickson Poon, Chairman of Dickson Concepts, said: "We are excited to announce the opening of our new full-fledged Harvey Nichols store at Pacific Place, Hong Kong's premier luxury shopping destination. The new store will become our flagship in Asia, just as our Knightsbridge store is our flagship in the United Kingdom. Coupled with the new look of Pacific Place, consumers will experience new highs in their shopping experience.
"With Harvey Nichols' international pedigree and in-depth knowledge of global fashion trends, together with Dickson Concepts' 30 years of experience and understanding of Asian consumer tastes, we are confident that this store will reinforce Harvey Nichols' leading position in the retail industry in Asia and act as a major growth engine for Dickson Concepts in the years ahead," Poon remarked.
About Pacific Place
One of the largest commercial and retail centres in Hong Kong, Pacific Place is composed of approximately 5.19 million sq ft (over 480,000 sqm) of prime real estate in the heart of the city and boasts direct access to Admiralty MTR station. Since its inception in 1988, the four-level mall has become home to over 130 shops and boutiques, collectively offering a dazzling array of contemporary fashion and internationally-renowned luxury brands.
Swire Properties' flagship development is also home to four five-star hotels, a conference centre, three Grade-A office towers and 270 five-star serviced apartments, and remains Hong Kong's iconic shopping destination.
About Swire Properties
Incorporated in 1972, Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use development in prime locations at major mass transportation intersections. The Company's investment portfolio in Hong Kong totals over 17.8 million sq ft (approximately 1.66 million sqm)* of gross floor area, with Pacific Place, Island East and Festival Walk as its core holdings. In addition to Hong Kong, the Company has a presence in Mainland China, the United States and the United Kingdom.
In Mainland China, Swire Properties has an investment portfolio amounting to over 10.8 million sq ft (over 1 million sqm)*, the majority of which is under construction. The four projects consist of mixed-use developments in Beijing, Shanghai and Guangzhou, with Sanlitun Village and The Opposite House hotel in Beijing being the best-known among them.
In 2008, the Company formed Swire Hotels to create and manage intriguing urban hotels in Hong Kong, Mainland China and the United Kingdom, aimed at providing an exceptional experience for travellers who seek individuality, style and personalised service.
The Company is a wholly-owned subsidiary of the publicly-listed Swire Pacific Limited whose businesses are grouped under five operating divisions - property, aviation, beverages, marine services and trading & industrial.
Visit Swire Properties' website at www.swireproperties.com.
* Gross floor area in respect of 100% of the investment properties excluding car park areas and not on an attributable basis.
About Dickson Concepts (International) Limited
Dickson Concepts owns and operates a comprehensive network of over 400 shops throughout South East Asia and China. The Group also owns the Harvey Nichols store in Hong Kong and five Seibu stores in Hong Kong and China. Dickson Concepts also has a thriving wholesale business, distributing a very wide range of product categories.
Geographically, Hong Kong represents 56% of sales, China 22%, Taiwan 16% and the rest of South East Asia 6%.
With a net cash position of approximately HK$1 billion and a strong balance sheet, the Group intends to actively expand its retail network and the businesses of its three major product categories: apparels and accessories, cosmetics and beauty, and watches and jewellery.