Colliers announces aggressive expansion in retail business to capitalise potential growth in retail sector
Five strategic hires bring specialist experience to Hong Kong team
Hong Kong, 16 June 2016
– Colliers International Hong Kong Limited, part of Colliers International Group Inc. (NASDAQ: CIGI; TSX: CIG), a global leader in commercial real estate services, today announced four key hires to the Hong Kong retail services team to revitalise and grow the retail specialist services to generate new value to clients.
The retail market has been at the centre of Hong Kong woes as tourist arrivals slumped since March 2015, but the spending power of Hong Kong’s middle class remains healthy with the average medium monthly household income at HKD25,000 as of Q1 2016. As such, Colliers Research expects the essential consumer goods sector to show strength which will power the growth of F&B, lifestyle fashion, affordable luxury and beauty products. This positive outlook has prompted the global real estate services provider to put the pedal to the metal for its retail services team by bringing in specialist talent to the business.
“We are taking decisive action to reinvigorate growth and restore the momentum of our retail business. While there may be macroeconomic factors that influence the retail market in Hong Kong, we are confident that new opportunities are emerging and will generate a positive outcome for the business,” said Nigel Smith, managing director, Colliers International Hong Kong.
Senior hire Cynthia Ng has joined the firm as director of Retail Services, Hong Kong, and brings an extensive background in retail leasing having spent more than thirteen years with other world class developers and retail specialist firms in Hong Kong and Australia. She brings valuable experience in structuring and negotiating complex lease plans for first-time market entrants especially in the cosmetics and skincare sector and was responsible for the successful opening of two Orogold and two Elevatione shops in Grade A malls and high streets in Central and Causeway Bay. Ng was also involved in numerous new brand openings in Hong Kong such as the successful opening of the first Forever Flawless shop from the US and two stores for the popular Korean skincare brand Nature Republic. A top broker in her previous company, she was awarded the “Excellence in Retail 2014” honour from her work with new brand openings.
“Cynthia is a key hire and will undoubtedly flourish in the Colliers environment,” said Sebastian Skiff, director, Retail Development and Asset Management, Asia. “Her strong enterprising character is a perfect complement to the new business direction that Nigel has injected to the Colliers Hong Kong business since coming onboard in September last year. Together, we will also build on the successes to date of the greater Asia Retail team which combines quality advice and execution capabilities within a very client focused and dynamic environment.”
Skiff joined Colliers last year and is veteran in the retail market with more than 30 years of experience working in Hong Kong and Asia, representing many of the leading brands in the world and having leased several of Hong Kong’s leading shopping centres, including Festival Walk and Park Lane in Causeway Bay.
The firm has also announced three other specialist talents to the retail team. Colly Tu joins as associate director, Retail Services, Hong Kong, and specialises in new brands penetration. Tu draws on a wealth of experience working with international brands especially in their initial brand launch in North Asia. The Colliers Hong Kong retail team has also welcomed Mervin Ling and Kinson Wong who collectively brings in many years of experience in helping clients with new retail concepts, identifying new opportunities for mid-tier brands in F&B and lifestyle accessories, targeting new and emerging locations for different brands, and providing latest and actionable market intelligences.
“The opportunity for positive growth is abundantly clear to me. Together with Sebastian, this new team of five retail experts will increase our specialist knowledge in these growth areas to enable more strategic discussions with clients. I’m excited to build on Colliers’ strong reputation in retail and look forward to working with the whole team as we develop innovative solutions for both new and existing clients,” said Smith.