The retail fit-out market in Asia is growing rapidly, driven by urbanization, technological integration, and increasing demand for modern, flexible spaces. As of 2023, the global interior fit-out market, which includes the retail sector, was valued at approximately USD 58.91 billion. The Asia Pacific region represents a significant portion of this market due to robust real estate development and evolving consumer expectations. This sector is forecasted to grow at a CAGR of 7.9%, potentially reaching USD 100.31 billion by 2030.

Hongkong Land Holdings Ltd and its retail tenants including Hermes & Louis Vuitton will be investing USD 1 billion to revamp The Landmark, in a vote of confidence of the city’s luxury retail industry. The upgrades to the real estate firm’s flagship retail space will create maison-story-style stores, who will see their stores double in total retail space. Space is also being allocated for new high-end restaurants. The revamp would be one of The Landmark’s biggest revamps in the 44 years since it was incorporated. Cartier, Chanel, Dior, Hermes, Louis Vuitton, Prada, Saint Laurent, Sotheby’s Tiffany & Co and Van Cleef & Alps will be collectively spending USD 600 million for fitouts for their stores, with Hongkong Land spending USD 400 million on the project. The expansion which will see more than 220,000 square feet being created, will allow brands to provide wider assortments of products and more private areas catering to top customers.

Businesses and consumers increasingly seek visually appealing and functional interior spaces. Retail outlets are designed to enhance productivity and create a positive brand image in region where there is a growing interest in incorporating local cultural elements and craftsmanship into interior designs. The Retail Fitouts Summit by Trueventus provides a platform for industry leaders and subject matter experts to network and exchange insights on the retail fitout industry. Learn how MNCs are leveraging advances in materials and digital design to transform their spaces into one stop destinations and at the same time catering a unique omnichannel experience to their shoppers.