When rents skyrocket, adapt & make a statement
Photo from BBC
What do you do when exorbitant rent prices pose a barrier to opening a store? You opt for a pop-up. And when faced with a staggering 250% rent increase to HK$7 million per month (US$900k per month) to accommodate brands like Abercrombie & Fitch? You make a bold statement with a pop-up. That's precisely the plan Shanghai Tang has in mind as they bid farewell to their flagship store on Pedder Street after 17 years. Exiting on October 23rd, they'll set up a pop-up with a Mongolian theme atop the Central Ferry Piers from November 5th to December 31st, offering luxury goods at a fraction of the cost and garnering substantial public exposure. It's a savvy move, utilizing an underutilized space to generate buzz and sending a clear message to their former landlords with a resounding "f*** you."