Billionaire Cheng family’s New World Development is in talks with Louis Vuitton to open a 40,000-square-foot megastore at its K11 Musea mall, Bloomberg reported. The luxury expansion could boost Hong Kong’s struggling retail sector and provide financial relief to New World, which is grappling with debt pressures. The Cheng family has long held K11 Musea as a heritage asset, and the deal would reinforce their presence in high-end retail. The discussions, still subject to final terms, come amid an ongoing succession battle within the family, with patriarch Henry Cheng yet to name a successor.