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| No.7 July, 2010 |
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Global affairs magazine sets up new Hong Kong headquarters |
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 Hong Kong has become the latest base for global affairs magazine and style bible Monocle, with the worldwide title setting up in the heart of the Special Administrative Region.
Situated within the bustling Star Street area in Wan Chai, the new Monocle Hong Kong hub serves dual functions for the expanding media brand: the Monocle standalone shopfront and its editorial bureau.
This new retail shop is Monocle's fourth after London, Los Angeles and Tokyo, and sells its popular selection of fashion and design collaborations with brands like Comme des Garçons, Porter, Valextra, Malmsten and Hackett. At the back of The Monocle Shop is the headquarters for news gathering across China and Asia Pacific, headed by its new Hong Kong correspondent, Liv Lewitschnik. In a unique move for a magazine brand, profits from the shop sales will be used to support the bureau.
Editor-in-Chief of Monocle, Mr Tyler Brûlé, said: "We've been looking for the right moment to expand into Hong Kong, as it represents one of our largest markets for readers and subscribers and we like to keep a close editorial eye on this part of the world. It has also presented itself as rich in commercial opportunities.
"Hong Kong's location means it's a great jumping off point into Asia Pacific, while still in a timezone easily accessible to Europe. Hong Kong's infrastructure is supportive of businesses and it is a booming city with an eye to global opportunities."
Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, welcomed the establishment of Monocle's new headquarters in Hong Kong.
"We are very pleased that Hong Kong is one of the largest markets for this global affairs magazine and the decision to expand into Hong Kong has always been on its agenda," Mr Galpin said.
"The arrival of Monocle in Hong Kong highlights the unique advantages of this international city: at the heart of Asia Pacific and as a gateway to China, a shopping paradise for internationally renowned brands, offering a cosmopolitan lifestyle and free flow of information. We look forward to working closely with Monocle to support its expansion plans in Hong Kong and beyond."
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