Top-end brands target Shanghai's huge market
More brands are to open their first stores at Shanghai's key shopping landmarks.
A new batch of companies, 15 key shopping landmarks in various districts, and authorities of 14 districts on Monday signed agreements, signaling another 12 brands chose Shanghai as the location for their first stores in China.
The city launched a group of new shopping landmarks with a cluster of first stores, a variety of brands, innovative business forms and the concept of green and low-carbon business operations.
The landmarks are mainly in key business districts including the Pudong international consumer center, Nanjing Road W, Huaihai Road M, North Bund and Xujiahui.
The new "first stores" and flagship stores cover sectors such as cosmetics, furnishings, jewelry, clothing and automobile.
It is part of Shanghai's development as an international consumption center city by the end of 14th Five-Year Plan (2021-2025).
The city is focusing on leveraging innovation as a major driving force for its development, and using high-quality supply to lead and create new demand.
It aims to cultivate more consumption landmarks, optimize the environment for shopping, and improve supplier quality to unleash the potential of high-end, online, service, external and nighttime consumption.