McHugs, Paraverse & More: City debut economy has it all
Print Edition
FOR people living in Shanghai for more than five years, there is a collective understanding among residents regarding the rapid ascent of the city. But it’s not just about growth and progress, yes, this is part of it. But there is also a staggering number of times that things make their debuts here in Shanghai. And this has been increasing in frequency.
Maybe it’s a brand’s first store opening, a viral bubble tea shop drawing long queues, the debut exhibition of a popular IP, or a fashion label launching its very first runway show. Every day, it feels like Shanghai has something new and exciting to offer.
In 2023, the Shanghai government established a campaign called First in Shanghai (首发上海). And when we talk about that, we can’t ignore the driving force behind it all — the debut economy (首发经济). What is the debut economy? Put simply: It is an emerging economic model where creators, brands and products achieve rapid success and market impact through powerful first impressions and viral launches.
In this column, we’ll be exploring Shanghai’s growing role as a global launchpad for new brands, products and experiences. Since 2023, under the banner of “First in Shanghai,” the city has become a premier destination for high-profile launches — flagship stores, limited editions and international debuts. We’ll be tracking the pulse of this phenomenon, spotlighting the people, places and moments that redefine Shanghai’s position in the world as a bellwether city.
‘First in Shanghai’ campaign
You’ve probably seen the banners around town. Maybe you’ve even attended one of the shiny launch events where they hand out champagne like it’s tap water and everyone’s pretending to be very interested in just how soft that new sneaker drop is. It’s all part of Shanghai’s latest brand flex: First in Shanghai.
Here’s the gist: The city wants to be the place for brands — international, domestic, doesn’t matter — to debut their latest and greatest. Think of it like Shanghai’s version of a red carpet premiere, except instead of movie stars, you’ve got sneakers, skincare, tech gadgets, and the occasional electric car that looks like it was designed by someone who hates corners.
It’s propped up by four big pillars:
First Launch: New product releases
First Show: Brand’s first runway or performance
First Exhibition: Debut exhibitions
First Store: Flagship or first-in-market locations
The city’s now practically bursting at the seams with “firsts.” Global brands love it because they get to plant their flag in the biggest, loudest city in China. Local brands love it because it makes them look world-class. The city loves it because, well, there’s nothing Shanghai likes more than being first.
In 2024, they clocked in nearly 3,000 brand debut events. To put it in perspective, that’s about three new first stores opening every single day. A revolving door of global flagships, concept stores, tech showcases — if you can put a price tag on it, it’s debuting here. And about 17 percent of those? Big hitters. High-impact stuff. The kind of openings that make you think Shanghai might just pull off this “global launch capital” thing.
The latest wave of first stores showcase styles like McHugs’ British coziness and Furla Casa’s Italian grace, plus a nostalgic Paraverse. Whatever you want, something fresh and photo-ready is just around the corner.
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