Swiss sportswear brand On Holding is gearing up to establish its inaugural store in Hong Kong, marking its debut in the vibrant shopping scene of Greater China.
The company, backed by tennis legend Roger Federer, has secured a prime spot spanning 3,000 square feet at H Queen’s, a prominent structure situated in Hong Kong’s bustling Central business district, owned by Henderson Land Development Co.
Rent for the store is estimated at approximately HKD 600,000 ($76,700) per month, although the precise opening date remains undisclosed.
Hong Kong’s retail sector, once a thriving destination for global tourists, has faced challenges in bouncing back to pre-pandemic levels due to a sluggish recovery in visitor arrivals and retail sales post-Covid.
On Holding has reported significant gains in its recent trading performance, with a remarkable 46.6 percent surge in annual sales, reaching CHF 1.79 billion ($2.02 billion). Sales in the Asia Pacific region particularly stood out, skyrocketing by 75.9 percent to CHF 141.1 million ($156.6m).
