Emmanuel Perrotin announced that his gallery is relocating from K11 Atelier Victoria Dockside back to Central, Hong Kong's business district, where it first opened in Asia in 2012. The gallery vacated Dockside on October 1 after six years, citing the move as optimal for better serving the community, enhancing accessibility, and reducing operational costs. The new space's opening date has not been set, but the gallery remains fully operational and focused on upcoming art fairs and museum exhibitions. This follows Pace Gallery's announcement that it will close its H Queen's location by the end of October, though Pace will maintain offices in Hong Kong and Beijing.
The relocation reflects broader turbulence in Hong Kong's gallery scene and the global art market, which has faced a slowdown for two years. Global art sales dropped 12% last year per the Art Basel and UBS Art Market Report, and Hong Kong art transactions hit an eight-year low this fall as mainland Chinese collectors tighten spending. Other high-profile closures in New York, London, and Hong Kong—including Blum Gallery, Venus Over Manhattan, Marlborough Gallery, Almine Rech's Mayfair location, and Lévy Gorvy Dayan—underscore a market-wide contraction. Perrotin's move back to Central signals a strategic recalibration rather than retreat, as the city remains critical for Western galleries' Asian networks.