French accessory retailer Longchamp has stepped up expansion in the Greater China region by launching a new 4,300-square-feet megastore in Hong Kong’s Kowloon district.

Jean Cassegrain, grandson of Longchamp’s founder, told a media, “We have no intentions to slow down our expansion plans, especially in Asia. The purchasing power of Chinese consumers continue to increase and it is not going to change.”

Longchamp currently has seven stores in China and plans to increase to 40 to 50 stores, although there is no set timeline for openings. The brand saw turnover of $507 million last year, a 22 percent increase from 2010. With the economies of Longchamp’s European markets remaining “unfavorable,” the brand is optimistic that sales of the brand’s famous fold-up nylon and leather totes will be bolstered in China.