Adrian Cheng expands K11 brand in Xiamen as NWD debt woes persist

Adrian Cheng, former heir to New World Development, is expanding his K11 cultural retail brand in mainland China via a new venture with Xiamen Rail Transit Group. The Xiamen K11 Select has drawn over 2 million visits since opening, signaling growth in Cheng's independent business amid his family's property group's heavy debt. This highlights a divergence between Cheng's entrepreneurial pivot and NWD's financial struggles.