HK Tycoon Cheng's Mall to Expand Luxury Space With LVMH, Kering.

Luxury brands such as LVMH's Loewe, Kering SA's Saint Laurent and Balenciaga, and Prada SpA are expanding their presence in the K11 Musea mall in Hong Kong. The mall, owned by billionaire Henry Cheng's New World Development Co., is betting on a rebound in the city's premium retail sector to help alleviate property-market woes. Other brands, including Brunello Cucinelli SpA, Van Cleef & Arpels, and Audemars Piguet Holding SA, are also planning store upgrades in the mall. The expansion is seen as a sign of New World's turnaround plans after the company issued a warning of expected losses due to the decline in property values in Hong Kong. [Extracted from the article]