Staff Reporter
Published:
Photo from Sincere Online Store
The department store chain is looking for a new site in the area.
The Sincere Company Ltd will shut its flagship department store in Hong Kong’s Central district in early December after its lease expired.
The tenancy for the store, located at No. 189 Des Voeux Road Central, expires on 31 December 2026, the company said in a bourse filing on 6 October.
Sincere said that it failed to reach an agreement with the landlord on the renewal.
Sincere plans to establish a new outlet in the Central or Sheung Wan area but has not yet secured a site.
The group expects overall sales to fall after the closure, but operating losses may also narrow as it saves on rent and other overheads.
Its Mong Kok outlet at King Wah Centre branches in Kowloon and its online store will continue to operate, it said.
Founded in 1900, Sincere is Hong Kong’s first Chinese-owned department store. It is among the first stores to hire women as shop assistants, introduce fixed pricing, and issue formal purchase receipts.
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