Mainland retail company Novo Concept, a fashion, arts and design store with a focus on innovation, will launch its first outlet outside China in Hong Kong's east Kowloon MegaBox shopping complex, set to open in 2007.
Novo general manager Daniel Tang said the store's retail environment, which will feature what the company calls evolving 'architectural landscapes', will be key to attracting its young target consumers. "Young people are not only interested in shopping, but also in enjoying going to a special design shop instead of a normal department store," Tang said.
The company is targeting high-income earners in the 20 to 30 age bracket and will offer a wide range of fashion products, accessories, cosmetics and other household items. International brands will feature prominently on the fashion front, with big names like Lee, adidas, Arnold Palmer, Pony, Puma and Quiksilver set to come off the shelves. This would place the store in competition with the likes of Hong Kong's Twist and D-Mop outlets, as well as others such as Y3 and Extravaganza.
The store's look will boast special visuals, dynamic contours and a space that can be manipulated for special events, such as fashion shows, exhibitions or artists' installations. Tang said such an emphasis reflects what was happening in the wider market, where malls, restaurants, theatres and bookstores are increasingly focusing on design to create excitement as customers' tastes change.
A concern for aesthetics was also central to deciding on the company logo. Tang said the company chose the red three-leafed design over hundreds of other options, because of its simplicity and its three-dimensional quality, which allows more potential for visual play.
Novo was founded in 2003 under parent company Toppy International — a China retail company that has made a name for itself with fashion lines such as Episode, Jessica and Weekend Workshop.
Novo also has stores in Beijing, Shanghai and Shenzhen. The company could face a rougher-than-expected ride in Hong Kong, however, where figures from ING indicate retail sales growth slowed to 5.3 per cent in May, down from April's 9.5 per cent.