Sports brand Adidas has leased the shop in Central formerly occupied by US luxury brand Coach at a rent about 22 per cent cheaper. Adidas has rented the 13,000 sq ft shop at 36 Queen’s Road for HK$4.34 million a month, according to the Land Registry. That’s 22.5 per cent less than the HK$5.6 million a month Coach paid. Coach closed the shop last month in the wake of Hong Kong retail sales being hit by the drop in the number of mainland Chinese visitors to the city.
