Pudong fashion destination celebrates fifth anniversary
Shanghai Village, a member of the Bicester Village Shopping Collection, recently celebrated its fifth anniversary. Adjacent to Shanghai Disney Resort in the Pudong New Area, the village has received more than 10 million visitors, maintaining double-digit year-on-year sales and foot-traffic growth.
"We came to Pudong five years ago with a shared vision, and created this amazing destination from a flat piece of land," said Mark Israel, chief executive officer of Value Retail China, which operates the outlet. "I want to express my gratitude to the local government and Shanghai International Resort, who have been greatly supportive and helpful."
The Bicester Village Shopping Collection, one of the world's leading luxury shopping destinations, has 11 villages in Europe and China (Shanghai and Suzhou).
The Shanghai version is the latest addition to the collection. Featuring 1920s Art Deco influences from Milan, Vienna, New York City and Paris, the village is home to more than 200 boutiques and restaurants that showcase international and Asian fashion and lifestyle brands, and offer a variety of activities for shoppers, foodies and revelers.
It is now 10 times larger than it was five years ago, making it among the top shopping destinations in the domestic retail market.
As the "First Store" economy catches on, more than 40 high-end luxury brands looking to establish a foothold in the Chinese market have opened their first outlet boutiques in the village.
The COVID-19 pandemic has cast global gloom on the tourism industry, but it's blooming in China, the first country to bring the virus under control. The village has witnessed a 130 percent increase in sales revenue over the same period last year.
Since reopening after the pandemic shutdown more than a year ago, the village has welcomed more than 50 new brands, with more to come in the future.
"While we're proud of all these accomplishments, we realize just how vast the potential here is, and we've really just begun our journey," Israel said. "There's so much more to learn, and so much more we can achieve together. We're always reminded of the spirit of Shanghai – stay open-minded, stay nimble and stay humble. With our long-term China growth strategy, we're very confident and excited about the future."