Updated July 18, 2012International retail chains are jockeying for position in the Hong Kong shopping districts in an effort to establish a presence and raise awareness for their brands there. There are many reasons why the Hong Kong retail scene is so hot, but one of the major reasons is because in 2011 when retailers in other parts of the world were working hard to recover to pre-recession levels, the Hong Kong retail industry saw a 24.9% improvement. The $405.7 billion worth of retail goods consumed were purchased not only by Hong Kong shoppers, but also the 41.9 million tourists who visited Hong Kong from China and around the world.
The challenge for global retail chains looking for low-hanging retail customers in Hong Kong is that the demand for space in the most popular Hong Kong shopping districts has escalated rent prices for retail real estate at a rapid pace. A look at a multi-year comparison of retail rents in major global cities reveals that not only is Hong Kong now the most expensive city for retail rents, the retail rents there have more than doubled in just the past year.
Reportedly, global retailers have been actively helping drive those retail rent prices up, signing leases for significant sums in hopes that the gamble will pay off in sales, brand recognition, and leverage into the coveted shopping areas within the borders of China. Reportedly, these are some of the rents that retail chains from around the world are paying in Hong Kong:
- HK$7.0 million per month - Abercrombie & Fitch
- HK$4.0 million per month - Burberry
- HK$5.0 million per month - Bonjour
- HK$1.1 million per month - Tommy Bahama
What follows is a comprehensive list of the U.S. retail chains and restaurants that are doing business with Hong Kong customers within Hong Kong borders.
U.S. Retail Chains and Restaurants with Retail Stores and Outlets in Hong Kong:
- Abercrombie & Fitch
- Burger King
- Forever 21
- The Gap
- Hollister California
- Michael Kors
- Pizza Hut
- Ralph Lauren
- Tommy Bahama
- True Religion
- U.S. Retail Stores, Chains, and Restaurants in France
- U.S. Retail Stores, Chains, and Restaurants in Germany
- U.S. Retail Stores, Chains, and Restaurants in Italy
- U.S. Retail Stores, Chains, and Restaurants in Spain
- U.S. Retail Stores, Chains, and Restaurants in the United Kingdom (UK)