Adrian Cheng speaks out on keeping K11 growing and its future
Crises have not been lacking since 2020. Thus, in an interview in his honor, Adrian Cheng sets out some statistics on prospecting for K11 despite the many crises. He also explains the new directives that the group will take to satisfy all consumers. Discover in this article the opinion of the CEO of K11.
Prospecting the K11 group despite the many crises
Between waves of Covid-19 infections, political, tourism and national security crises, sales increased by 56%. According to Adrian Cheng, the sales percentage of the new K11 Musea shopping center in Hong Kong is estimated at 60%. And that with 1.4 million visitors. While the sale of the five K11 properties totals a percentage of 34%. This success of the group is due to the combination of shopping centers with cultural needs. In addition, there is the exhibition of articles made accessible offline and online with loyalty bonuses. Not to mention the priority given to local consumers, which helped to stay the course, despite the crises.
Digital at the heart of distinctive partnerships and sales
The group had to design chat software to allow customers to shop online. This orientation has considerably increased the purchasing power of works of art by 50%. Added to this, K11's loyalty program has helped drive consumers to the center. In partnership with the brands of items marketed, each purchase entitles you to 1 K virtual currency. The latter is then reconverted for other purchases in the K11 branches.
What are the plans for the future?
At least 38 projects are planned by 2025. Cheng believes consumers will maintain their current shopping patterns. Making products accessible to everyone is a priority. Aboriginal customers will therefore have a tax reduction. A more precise approach to the needs of all levels of consumers will be put in place. K11 has one more connotation. social and environmental ones.