Federer-Backed On Sneaker Brand to Open First Hong Kong Store [BNN Bloomberg (Canada)]
HENDERSON LD DEV S/ADR (HLDCY)
NASDAQ:AMEX Investor Relations:
hld.com/en/investor/presentations.shtml
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Source: BNN Bloomberg
in a slew of brands looking to the shopping hub as a potential buffer against weaker sales in China. Swiss sneaker maker On — backed by tennis legend Roger Federer — has identified a store of more than 3,000 square feet at H Queen's, a trendy building owned by Henderson Land Development Co. in Hong Kong's Central business district, said the people, who asked not to be identified discussing private deals. Rent is around HK$600,000 ($76,700) per month — roughly double the price paid by the space's previous tenant, a bakery by French celebrity pastry chef Dominique Ansel — but still down some 30% from peak levels for a similar-sized spot in the building before Covid, the people said. A representative for On said the company could not immediately comment. Henderson Land declined to comment. Renewed Interest The shoemaker, which already has 22 stores in the mainland, is expanding into Hong Kong as economic woes fuel caution among once-flush Chinese shoppers. The financial hub's c
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