After being a Central mainstay for 18 years, Hong Kong-owned British high-end department store Harvey Nichols will shut down its Landmark store in March next year. The store’s parent company, Dickson Concepts, explained that retail spending has been weaker than expected from both Hongkongers and Mainland Chinese tourists – even during the prime Golden Week period.
“Coupled with locals increasingly travelling abroad during the holiday season, [it] means there is no longer a need to operate multiple large-scale department stores in close proximity,” explains the group’s executive chairman, Sir Dickson Poon. Spread over five floors, Harvey Nichols currently occupies 60,000sq ft of space in the Landmark shopping mall. Dickson Concepts has therefore decided to focus their efforts on the Pacific Place store instead.
This decision comes after Manju Malhotra, CEO of Harvey Nichols, resigned in August after 25 years of service in the company. In the interim, Pearson Poon, executive director and son of owner Dickson Poon, will step in as vice-chair of Harvey Nichols until Malhotra’s replacement is appointed.
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