The fashion house, which is known for its unique and surreal designs, will open its boutique in Hong Kong January.
Schiaparelli, a fashion house known for its unique and surreal designs, is set to make its Asian debut with a permanent outlet in Hong Kong, according to Hongkong Land. The shop in Landmark , one of the city’s premium shopping centres in the main Central business district, was set to open in January, said Alexander Li, head of retail at the commercial real estate developer and landlord.
“It will be Schiaparelli’s first boutique in Asia and they chose Hongkong Land’s Landmark as the first place to put down a flag and say ‘we’re open’,” Li said. “That says a lot that this is the first place they want customers to see their products in a store.”
Founded by Italian designer Elsa Schiaparelli in 1927 in France, the brand is known for bold design choices, such as the use of shocking pink and collaborations with artists like Salvador Dalí, including the so-called “Lobster Dress” and the “Shoe Hat”. It has six permanent outlets in Paris, London, Monaco, New York, Los Angeles and Dallas, according to its website.
It currently has pop-up stores in Dubai and Osaka, following a surprise installation and pop-up in Shanghai’s Plaza 66 mall late last year.
Schiaparelli’s store is likely to boost confidence in the improving outlook for Hong Kong’s retail industry, after the battered segment posted a sixth straight month of rising sales in October, according to the latest official data. A number of brands, including Burberry, Victoria’s Secret and Topshop, have either reduced their presence or exited the city altogether as consumer and tourist spending declined following an unprecedented social unrest in the second half of 2019 and the Covid-19 pandemic that followed in 2020. The city’s economy took a beating, contracting for six straight quarters until the end of 2020. A more virulent strain of the coronavirus in 2022 further put a strain on the economy, which shrank 3.7 per cent that year, according to official data.
“Hong Kong’s retail market is entering 2026 with cautious optimism, following a steady recovery in 2025 where we expect high-street shop rents to increase by around 3 per cent, supported by resilient domestic demand and a gradual return of international visitors,” said Kathy Lee, head of research and retail consultancy at Colliers.
“Luxury and experiential retail will remain strong drivers, while brands will increasingly embrace personalisation and wellness-focused experiences,” she said.
Schiaparelli is among five luxury brands that have opened or are set to unveil their new stores in Hongkong Land’s Landmark-branded properties, following the launch of the developer’s US$1 billion “Tomorrow’s Central” initiative to upgrade the complex. The others are Swiss watchmaker Patek Philippe, French luxury brand Yves Saint Laurent and its Italian peers Prada and Miu Miu. In August, L’Atelier de Joel Robuchon reopened on the fourth floor of Landmark Atrium . The three-Michelin-starred restaurant, spread over 18,000 sq ft, reopened after 19 months of extensive planning and redesign.
The three-year renovation of Landmark-branded properties that began last year is aimed at creating an “extraordinary experience” for well-heeled shoppers and strengthening the presence of global luxury brands in the city.
Of the investment, Hongkong Land would pour more than US$400 million, which the company said was its biggest single investment in the city in a decade. Retail tenants across the Landmark portfolio would spend an estimated US$600 million more to design and create their own spaces in the upgraded complex, the company said.
The project secured the endorsement of nine luxury tenants, including Cartier, Chanel, Dior and Louis Vuitton.
The renovation would double the retail area occupied by these nine brands to more than 220,000 sq ft and create a total of nine unique “maison” (French for “home”) spaces of between two and eight storeys for individual retailers in Landmark Atrium , Landmark Alexandra, Landmark Prince’s and Landmark Chater .
“It’s a real vote of confidence in Hong Kong, Central and Landmark,” Li said. “It’s a vote of trust that brands and tenants feel that this is a market they can rely on for long-term growth.”
This year, tourists spent HK$300,000 (US$38,537) on average on shopping and dining in Landmark, a low single-digit spending increase from 2024, Li said.
Li said that 87 per cent of the space undergoing renovation had been leased, leaving about 60,000 sq ft yet to be rented, as “some space needs to be changed or reconfigured before showing them” to potential tenants.
“When you’re able to show within 12 to 18 months, in an uncertain global environment, that brands and tenants are willing to put down and commit significant capital expense to open stores again, it shows momentum and the scale, pace and quality of that momentum,” he said.
While Landmark is primarily known for luxury shopping, 90 of its 200 tenants are food and beverage operators. Li said Hongkong Land’s target was for about 20 per cent of these F&B operators to provide lunch for less than HK$100, catering to the Central district’s shoppers, tourists and office workers, and ensuring a diverse tenant mix.
Meanwhile, property agents said that retail leasing rates had bottomed out and were rising.
“The strength of this rebound will depend on multiple factors, including interest rate trends and the global economy, particularly the economic development of mainland China and Hong Kong,” said David Ma, CEO of Midland IC&I.
“Supported by the ‘three industry pillars’ – finance, tourism and education – transactions are expected to remain at relatively high levels in the near future. However, prices may continue to adjust before stabilising once a support level is established.”
