Taobao to launch 40,000 square foot furniture experience store in Tsim Sha Tsui

26th October 2024 – (Hong Kong) Taobao has secured a substantial rental space in China Hong Kong City at 33 Canton Road, Tsim Sha Tsui. The approximately 40,000 square foot location is set to become a large-scale furniture experience store, anticipated to open in early 2025.

Industry insiders suggest that Taobao has agreed to a monthly rent of around HK$500,000 for the new space, translating to a rate of approximately HK$12.50 per square foot. This rental price is comparable to rates in East Kowloon, leading some real estate agents to speculate that the terms may be beneficial for Taobao, potentially allowing for revenue-sharing arrangements with the property owner.

Initially, Taobao plans to occupy about 20,000 square feet of the space this year, with the remaining area to be utilised in the following year. This initiative signifies Taobao’s increasing investment in the offline market within Hong Kong, moving beyond merely serving as a collection point for online orders.

The forthcoming furniture experience store aims to provide Hong Kong consumers with a comprehensive shopping experience, including physical product displays, home delivery options, installation services, and after-sales returns.

Ye Jianqiu, General Manager of Taobao’s Tmall Overseas Business Division, recently highlighted Hong Kong as a key market for the brand. The surge in free shipping orders from the Hong Kong region underscores the popularity of their services, with plans to expand their product range to enhance customer satisfaction.