Value Retail eyes new mall and more outlets
Print Edition
UK-BASED mall developer Value Retail is to open a new shopping center in Shanghai early next year, and will also study increasing retail villages to tap demand from Chinese luxury goods shoppers.
“We’re seeking to build a number of outlets at locations that are close to tourist attractions as well as with easy access for urban residents,” Mark Israel, CEO of Value Retail China, said in an interview with Shanghai Daily yesterday. But he did not reveal the potential Chinese cities for future expansion.
The new 50,000-square-meter Shanghai center will be located in the Shanghai International Tourism and Resorts Zone in the Pudong New Area, next to the Shanghai Disney Resort.
Last year, China was Value Retail’s biggest non-European Union market with 44 percent of all non-EU tax refunded sales, up 29 percent annually. The company operates nine outlets across Europe.
Construction to expand the existing Suzhou Village would begin later this year, adding 50 percent more retail space to the 32,000-square-meter outlet.
“We hope to add to the existing mixture of brands offered at the Suzhou Village as Chinese consumer demand for flagship European brands and some regional brands keep rising,” Israel said.
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