Nature Republic to expand Hong Kong footprint

It's riding on the Korean craze.

Riding on the popularity of all-things-Korean, Nature Republic will further expand its footprint in Hong Kong by leasing a 1,640-sq ft shop on Granville Road in Tsimshatsui.

According to a research note from JLL, the Korean cosmetics retailer reportedly will pay a monthly rent of about HKD 950,000.

Meanwhile, in the retail market, sales registered another month of decline in June, down by 6.9% y-o-y.

Here's more from JLL:

Sales of jewellery and watches remained as the weakest segment, down by 28.2% y-o-y.

Growth of tourist arrivals also slowed with tourists from Mainland China growing by just 7.8% y-o-y in June, the slowest growth recorded in a month in the past 3 years.

A property fund has purchased the basement and a portion of the G/F (net floor area of 7,256 sq ft) of Union Park Centre in Mongkok for HKD 142.3 million.