Hong Kong’s gallery scene is in flux; first Pace announced last week that it will close its H Queen’s location by the end of October, now Perrotin is on the move. Frenchman Emmanuel Perrotin, the gallery’s founder, said this week that he’s relocating from K11 Atelier Victoria Dockside back to Central, Hong Kong’s business district, where he first set up shop in Asia in 2012. He vacated Dockside on October 1 after six years there.
“We see it as the optimal time to move back to Central,” a gallery spokesperson told ARTnews. “We believe this new location will better serve our community, enhance accessibility, and reduce our operational costs.”
The gallery has not yet announced the opening date of its new space, but said it is “working carefully and strategically to seize the best opportunity to launch the gallery as quickly as possible.”
“Perrotin was one of the first Western galleries to open a permanent space in Hong Kong – the city remains critical for our Asian network,” the gallery added. “During this transition, Perrotin Hong Kong will remain fully operational and focused on our upcoming art fairs and museum exhibitions in the region for our artists.”
Hong Kong is not the only major arts hub witnessing a shift in its gallery scene; New York and London have also been hit by some big name closures of late, including Blum Gallery, Venus Over Manhattan, and Marlborough Gallery. The global art market is struggling to climb out of a slowdown that started in 2022. Last year, it tanked by 12 percent, according to the most recent Art Basel and UBS Art Market Report. In Hong Kong, art transactions hit an eight-year low this fall, and dealers are feeling the pinch as collectors from mainland China tighten their purse strings. Lévy Gorvy Dayan also shuttered its Hong Kong gallery last year citing “shifts in client behavior.”
A Pace spokesperson earlier told ARTnews‘ Daniel Cassady that its H Queen’s location was “no longer servicing us and since out lease is expiring, like many other galleries, we are taking the opportunity to exit.” The closure does not mark a full retreat from the city, the gallery said, as it will maintain its Hong Kong and Beijing offices and it is open to considering new spaces if the right opportunity arises.
Pace first launched in Hong Kong in 2014 with a gallery in the Pedder Building before relocating to H Queen’s, a 26-story tower that was initially billed as a hub for blue-chip dealers including David Zwirner and Tang Contemporary, four years later.
