Harvey Nichols to vacate Landmark mall in Hong Kong’s Central after nearly 2 decades amid weak spending by locals, Chinese tourists

The luxury retailer will close its doors in March, after giving up its lease for 60,000 sq ft of space in the upscale mall, according to owner Dickson Concepts

Based on the average rent in the mall, Dickson Concepts could be paying as much as US$1.57 million per month for the space spread over five floors

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Harvey Nichols has been a fixture in the Landmark shopping mall in Central since 2005. Photo: Handout

Published: 7:28pm, 24 Nov 2023Updated: 2:02am, 25 Nov 2023

Harvey Nichols, the London-headquartered multibrand luxury retailer, is leaving Landmark, the upscale mall in Hong Kong’s Central after 18 years.

The retailer is set to officially close its doors by the end of the financial year in March, after deciding to give up the lease for 60,000 sq ft of space, according to Hong Kong-based owner Dickson Concepts (International)’s latest financial report.

Harvey Nichols will continue to focus on its operations in Pacific Place, another upscale shopping centre in Admiralty, said Dickson Poon, group executive chairman. The Landmark branch opened in 2005 followed by Pacific Place in 2011.

“Consumer sentiment in Hong Kong remains weak” while mainland Chinese tourists in the city are “no longer focused on shopping as they used to be before the pandemic”, he said.

Dickson Poon (left), group executive chairman of Dickson Concepts (International), and executive director Pearson Poon pictured in December 2018. Photo: K. Y. Cheng

The impending closure of Harvey Nichols marks another turn for the worse in Hong Kong’s retail segment, which has seen profound changes following difficulties from mid-2019 to 2022, when the city was rocked by an unprecedented wave of social unrest followed by the coronavirus pandemic.