…s Vuitton, Chanel and Gucci outside their eponymous boutique stores, with ‘store-in-store’ concept spaces for these and other international fashion labels. Speaking at the opening of the department store’s dazzling new ground floor, David Jones Ltd CEO, Ian Moir, spoke of “an exciting milestone in the redevelopment of the Elizabeth Street flagship”. He described how “beautiful products and an amazing experience [lie] at the heart” of the redesigne…
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Could Greenland’s Online Finance Platform Replace REITs?
…t the platform as a service to other real estate developers and investors. Online Financing Could Undercut Trust Industry The appeal of setting up online financing vehicles by developers such as Greenland and Wanda is obvious, given how these companies have been squeezed between declining sales, expensive trust financing and the vagaries of borrowing from China’s state-run banks. Alibaba’s Yu’e Bao online money market fund has been a hit with Chin…
Parkson Down to Last Beijing Location as Department Stores Disappear
…ations. Parkson joins a roster of domestic chains, from Hualian Department Store to Jiuguang Department Store, that have recently shuttered stores. In 2016 alone, Parkson shed five mainland department stores, including one property in Beijing, Sun Palace Parkson, that it sold for RMB 2.3 billion. Upgrading and repositioning has also emerged as a strategy to turn around obsolete stores. Last month, Shanghai officials closed the iconic No. 1 Departm…
FILA Relaunches Shanghai Flagship Store on East Nanjing Road
…ing. Now, both are adding a forward-looking twist to their heritage.” FILA originally opened the store in December 2013 as its first flagship in Asia, measuring 303 square metres. Chaired by Yoon-Soo Yoon, the sports casual company with origins in Italy was bought out by Fila Korea in 2007. Pradera Moves Forward with Mall Transformation Accessible via Metro lines 2 and 10, Mosaic Shanghai covers a total area of 40,270 square metres and offers a ra…
GIC Leads $14B Buyout of Warren Buffett’s Only REIT Investment
…to sign a definitive agreement to acquire all of the shares in NYSE-listed Store Capital, the only REIT which Berkshire Hathaway boss Buffett has invested in. “We are thrilled to lead this investment in Store Capital given its impressive cash flow profile, long-weighted average lease term and highly diversified portfolio with strong rent coverage,” said Lee Kok Sun, chief investment officer of real estate division at GIC. The buyout, which remains…
JD.Com Partners with Mainland Brokerage to Lease Homes Online
…unt The new partnership enables JD.com users to lease homes via 5i5j.com’s online store, and pay their monthly rent directly through their accounts on the ecommerce platform. Members of the site’s JD.com Plus premium service can get 20 percent off on brokerage fees when they buy second-hand apartments through the newly launched store, as well as in 5i5j’s 3,500 offline shops in 17 cities. JD has been listing real estate on their site for one year…
Long Lines, But No Riots, as Mega-Apple Store Opens in Beijing
…s, they did disclose that it employs 300 workers, and the company’s retail store employees in Beijing alone now total 800. Apple now operates six stores in mainland China — three in Beijing and three in Shanghai. A seventh store is planned to open later this year in the southern Chinese city of Shenzhen. According to Apple, its third-quarter revenue in Greater China (China, Hong Kong and Taiwan) rose to US$5.7 billion in 2012 — a 48% increase over…
JD.com Opens Its Largest Unmanned Store in Xiong’an New Area
…ng the e-commerce giant’s largest outlet in its growing chain of staffless stores. The store, which allows smartphone-enabled shoppers to buy Pocky, Snickers and stinky tofu via facial recognition, also updates the retail experience by adding digital price tags that can provide updated price discounts and offers in real time. Customers simply walk through the “smart payment lanes” to check out without the need to reach for their wallets, JD said….
AI-Driven Store is All Done After Abbreviated Debut in Chengdu
…line retail rival JD.com has been more aggressive, partnering with developer China Overseas Land to open hundreds of staffless stores across China in December. Offline retailers have also joined the human-free stores race, with retail behemoth Suning opening its first self-service store in Nanjing last August. The company announced plans to open three more in Beijing, Chongqing and Xuzho in November….
Parkson Closes Beijing Shop as Department Stores Stagger
…n China Parkson which was a pioneer foreign investor in China’s department store sector lists 57 stores in 37 cities on its website, but that number maybe heading south after the Malaysian-based chain’s Chinese operations reported eight percent lower same-store sales and 34.3 percent lower net profits during the first quarter of this year compared to the same period in 2013. The upper mid-market department store operator opened its first China sto…
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