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 the new store on Wednesday, featuring music and dance performances and an appearance by Hong Kong celebrity Hawick Lau. Owned by Pradera Retail Asia, the mall on Shanghai’s iconic pedestrian street is undergoing a comprehensive business upgrade. In February, Pradera launched M-Square, a themed area targeting young customers, inside the mall that was once the city’s Yong An (Wing On) department store.
New FILA Flagship Caters to Young Trendoids
The new FILA store was designed to complement the building’s historic architecture, including a main space on the first floor featuring high windows and a white marble and glass decor. The second floor is geared towards families and younger customers, offering the FILA KIDS brand as well as FILA FUSION, a collection of trendy limited-edition footwear, apparel, music and video games.
The new store helps establish Mosaic Shanghai as a top retail destination in the city for young locals and visitors, according to Pradera Retail Asia.
“FILA has expanded its legacy and brand with the upgrade and reopening of its flagship store at Mosaic Shanghai,” commented Rhys Evans, head of asset management at Pradera Retail Asia in a statement. “The fashionable brand has a hundred-year plus heritage and is aptly located in Mosaic Shanghai, itself a very historic building. 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 range of dining, fashion and entertainment stores, including H&M and Pull & Bear. Pradera Retail Asia’s upgrading effort seeks to transform the 1932-vintage former department store at 353 East Nanjing Road into a shopping, leisure and F&B hub for the country’s fast-growing consumer class.
The recently opened M-Square targets young patrons through a collection of niche cosmetics, F&B and accessories brands. Pradera has also struck an agreement with Merlin Entertainments, the operator of Madame Tussauds, to open the Shanghai Dungeon, a local version of the London Dungeon attraction.
Pradera Retail Asia, which provides asset management services in Asia, is a joint venture between between Pradera and Macquarie Retail Real Estate Management Limited, an arm of Macquarie Infrastructure and Real Assets (Hong Kong) Ltd.
Set up in September 2016, the joint venture mall manager has taken control of four retail properties with a total leasing area of 200,000 square metres in China, located in the cities of Shanghai, Qingdao, Xi’an and Chongqing. The London-based parent of the retail asset management specialist has a portfolio of 59 properties across European markets.