K11 honored as one of the most innovative companies in the world for disruptive retail model

Only company from Asia on Fast Company's Most Innovative Companies for urban development and real estate sector category

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K11 Group

Feb 26, 2019, 02:25 ET

HONG KONG, Feb. 26, 2019 /PRNewswire/ -- K11 is pleased to announce that it has just been named one of Fast Company's Most Innovative Companies for 2019. This is the second year that K11, founded by Adrian Cheng in 2008, has been honoured by Fast Company for its innovative features and disruptive new models under the mall's museum-retail hybrid concept. After being recognised as one of the most innovative companies in China last year, in this year's list, K11 has for the first time been recognised in a global category under the urban development and real estate sector. Notably, K11 is also the only company from Asia named under this year's award category for this sector.

Since 2008, Fast Company's annual Most Innovative Companies list has been honouring pioneering companies around the world across 41 categories that encompass a range of sectors and areas. Published by one of the world's leading innovation, design and technology media platforms, the awards list is viewed as a definitive source for recognising organisations that have a transformative impact on shaping industries and societies.

This year's list recognises the transformative impact K11 has on retail by how it brings together online and offline experiences to better serve its consumers across Greater China. Through a collection of shopping malls (K11 Art Mall), offices (K11 ATELIER) and hospitality offerings (K11 ARTUS), K11 integrates the online experience with engaging brick-and-mortar attractions for millennial and Gen Z consumers who crave unique experiences and value personalised products.

In honouring K11 in this list, Fast Company recognises how K11 has weaved innovative technology throughout its business. For instance, in 2018, K11 brought in ObEN, an artificial intelligence company, which ushered in new features such as intelligent avatars, personal concierge services and new virtual shopping experiences into its malls. Furthermore, K11 also hosted its first e-sports competition in Hong Kong, alongside an exhibition on gaming consoles and video games. K11's innovative edge has further been enhanced through its venture capital investment arms - K11 investment and C Ventures, which provide early-stage funding to disruptive start-ups, technology-driven brands and platforms that appeal to younger generation consumers. An example of such an investment would be how K11 built out physical spaces for DayDayCook, China's largest digital cooking channel, to transfer an online network into an offline experiential cooking studio at K11's Shanghai and Guangzhou malls.

Adrian Cheng, founder of K11 and Executive Vice Chairman of New World Development Group said, "At K11, we constantly strive to curate the most exquisite experiences by integrating breakthrough ideas and new models in order to transform shopping into a truly immersive activity that delivers refreshing new journeys for the next generation of customers. What we provide goes beyond just shopping, we aim to build an urban ecosystem where people work, live, shop, play, eat and dream in one inspiring and integrated hub in some of the world's most exciting cities. I am incredibly proud that our commitment has been recognised internationally and congratulate the K11 colleagues who made this award possible. We will continue to innovate moving forward, and I am extremely excited about our upcoming plans with the full opening of Victoria Dockside later this year."

About K11 Group

Founded in 2008 by entrepreneur Adrian Cheng, K11 Group combines art and commerce in commercial and residential real estate, and a growing portfolio of brands across different sectors in Greater China and around the world. In 2018, K11 Group announced its most ambitious Museum-Retail development K11 MUSEA, situated at the heart of the new US$2.6bn Victoria Dockside art and design district developed by parent company New World Development in Hong Kong, scheduled to fully open in Q3 2019. In addition to its flagship K11 Art Malls, K11 Group also operates K11 ATELIER, a network of office buildings for the next generation workforce; luxury residences for worldly travellers K11 ARTUS; open education platform K11 Kulture Academy; the terrarium-inspired transformative retail concept K11 Natural; consulting and market research institution K11 Future Taskforce; and K11 Art Foundation, China's first not-for-profit to incubate Chinese artists and curators. K11 Group is based in Hong Kong and has operations in Greater China, as well as investments in Europe and the US. Through K11 Group, Cheng's stated aim is to constantly innovate and "connect China's cultural ecosystem and its emerging millennials and Generation Z with the world", creating a new global identity for Chinese millennials. By 2023 K11 Group will have gained a footprint in nine cities across Greater China.

About Fast Company

Fast Company is the world's leading business media brand, with an editorial focus on innovation in technology, leadership, world changing ideas, creativity, and design. Written for and about the most progressive business leaders, Fast Company inspires readers to think expansively, lead with purpose, embrace change, and shape the future of business.

SOURCE K11 Group