…ing a portfolio of 44 malls, and Wang Jianlin wants you to see the opportunities involved in football corruption. Read on for all these stories and more. China Resources Not Amused by Vanke Deal with Shenzhen Metro China Vanke Co. ’s second-largest shareholder has expressed dismay over how the property developer unveiled a plan to buy assets from Shenzhen Metro Group for as much 60 billion yuan ($9.3 billion). Fu Yuning, chairman of state-owned Ch…
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Getting Sydneyās ‘Grand Old Dame of Retail’ Ready for 2030 Sponsored Feature
…ence Seah, Head of Benoy’s Singapore Studio, considers the history and significance of this iconic building, and explains how Benoy has brought “the grand old dame of luxury retail” into the twenty-first century. In 1838, just 50 years after the founding of Australia, a Welsh-born immigrant named David Jones established a drapery business on the corner of George and Barrack Street in Sydney. So began the story of David Jones Ltd., Australia’s lead…
Parkson Down to Last Beijing Location as Department Stores Disappear
The recently closed Parkson department store in Beijing’s Chaoyang district Malaysia-based Parkson was a pioneer foreign investor in China’s retail scene, opening its first mainland department store in 1994. Now that location, on Beijing’s Fuxingmen Rd, is the brand’s last remaining outlet in China’s capital as Parkson shutters department stores across the country in the face of slumping sales. At the end of May, Parkson closed its Longhu Beijing…
FILA Relaunches Shanghai Flagship Store on East Nanjing Road
FILA’s re-opened flagship in Mosaic Shanghai is the sportswear brand’s biggest Greater China store Global sportswear brand FILA has relaunched its flagship store in Shanghai, celebrating the opening of its largest retail space in Greater China. The expanded and upgraded venue in the Mosaic Shanghai mall on East Nanjing Road now covers 867 square metres on the two lower levels of the seven-storey retail centre. A ceremony was held to inaugurate th…
GIC Leads $14B Buyout of Warren Buffettās Only REIT Investment
…ty Trust. Store’s properties are dispersed across all US states except Hawaii, with Texas, Illinois, California, Georgia, Florida and Ohio accounting for a third of its then 2,886 assets as of the end of last year, according to its most recent annual report. As of 31 December, that portfolio measured 100,145 square feet (9,304 square metres) in combined built area, occupied by tenants across the service, retail and manufacturing sectors. Based on…
Long Lines, But No Riots, as Mega-Apple Store Opens in Beijing
…in Wangfujing The largest Apple Store in Asia was opened this weekend in Beijing’s Wangfujing area, but unlike previous Apple-paloozas in China’s capital, no mass incidents occurred and shoppers were able to feed their compulsions undisturbed. Although the store is Apple’s third location in Beijing, hundreds of people began lining up on Friday evening to gain admission to the store which opened on Saturday morning. Commenting (in more ways that on…
JD.com Opens Its Largest Unmanned Store in Xiongāan New Area
…ned store in Xiong’an New Area, a new district being built just south of Beijing that the central government intends to develop into a new economic hub. JD.com opened the 246 square metre (2,648 square foot). high tech retail venue on Tuesday, according to an article published on the company’s website, creating the e-commerce giant’s largest outlet in its growing chain of staffless stores. The store, which allows smartphone-enabled shoppers to buy…
Parkson Closes Beijing Shop as Department Stores Stagger
…in Nanning, China Parkson Retail Group has temporarily closed one of its Beijing stores following reports of dropping sales and after it permanently closed two stores in other Chinese cities. Sam Au, chief financial officer of Parkson Retail Group, told the local press that the company is closing its store on the capital’s East Fourth Ring Road for remodeling, but declined to give a reopening date. Department stores in across China have been strug…
JD.com Aims to Open 500 High Tech Supermarkets in Five Years
…Wang Xiaosong is ready to preach the O2O gospel The brick and mortar competition among China’s tech giants continues to heat up with JD.com announcing earlier this week that it would open 500 of its 7Fresh supermarkets in five years. This latest expansion into offline retail by China’s second-largest ecommerce player follows soon after rivals Tencent and Alibaba each announced their own offline grocery initiatives. Within this year JD.com’s 7Fresh…
AI-Driven Store is All Done After Abbreviated Debut in Chengdu
…ned supermarket is now closed after just four months of operation While artificial intelligence and facial recognition may be the road ahead for physical retail, the promise of online efficiency and future growth may not yet have made it to Chengdu, at least for one retailer. GOGO unmanned market, the first automated store in southwestern China, has been shuttered after less than five months of operation. Chengdu-based startup Xiao Mang Guo Techno…
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