“Apple plans to make a big splash this fall with its first retail store in Hong Kong, a sprawling, double-decker outlet that will serve as the latest anchor shop at the high-profile International Finance Center (IFC) Mall,” Katie Marsal reports for AppleInsider.
“Located in the city-state’s Central district, the IFC plaza spans 4.7 million square-feet and is home to some 200 high-end retailers and entertainment outlets, financial offices and Hong Kong’s most prestigious hotel and suite — the 55-story Four Seasons Hotel Hong Kong,” Marsal reports. “According to M.I.C. gadget, Apple plans to spend more than $20 million on construction alone, in addition to another $100 million as part of a 10-year lease commitment, on the 15,000-square-foot shop that will occupy two floors in an anchor location on the mall’s far east side.”
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Marsal reports, “When it opens this September, the shop is expected to employ more than 300 employees who’ll be tasked with serving an estimate 40,000 customers each and every day — more than 4 times the volume of an average U.S. Apple store. It’s expected to arrive on the heels of a similar store scheduled to open in late August on Shanghai’s famous Nanjing Road, China’s largest yet.”
More info and photos in the full article here.
[Thanks to MacDailyNews Reader “Lynn Wieler” for the heads up.]
As an anchor, you’d hope Apple would get some better rates!
Hong Kong Ka-Ching!
more than 4 times the volume of an average U.S. Apple store
All mainlanders day tripping to HK. It’s been one of HK’s growth industries since reunification in 1997. No Apple store in Shenzhen or Guangdong yet.
$20 million on construction alone, in addition to another $100 million as part of a 10-year lease commitment, on the 15,000-square-foot shop…
$10M per year lease? That is ~$667/sq.ft. per year. Even if Apple continues to sell over $4000/sq.ft., that is a hefty rent!
Me thinks those are numbers are in HK$
1 USD = 7.7500 HKD
HK$ 100,000,000 = approximately US$ 12 000,000
HK$ 20,000,000 = approximately US$ 2,581, 000
It is good , Apple should Open more stores in Asia, that where the real money is.
Spending power is increasing in Asia while te rest of the world is reducing or unequal .
Apple should should create more content for the Asian markets and make deal with broadcasters in Asia .
“Shanghai’s Apple store on famous Nanjing Road, China’s largest yet”
Yeah right, then we all can go there to buy the previous versions of the Apple products. The current models will be found across the street from regular electronics stores. After 2008 September all our 11 Apple products have been bought from abroad or Hong Kong, they are just not available here.
speak English boi’ . . .