Swire Properties unveiled its new open-plan shopping complex, Taikoo Li Qiantan, next to Shanghai’s financial district on Sept. 30, boasting around 120,000 square meters of mixed-use space and boutiques from brands owned by LVMH, Kering and Hermès.
Several brands have opened flagships and concept stores in the new development, including Moncler’s largest House of Genius boutique in the country. According to local authorities, 23 office projects, nine large-scale commercial complexes and 20 residential projects will take shape in the area, making Qiantan a new fashion and luxury shopping destination in Shanghai’s Pudong New Area.
It is Swire Properties’ third Taikoo Li project on the Chinese mainland, which the Hong Kong company has developed with Lujiazui Group.
While consolidation continues in China’s department store sector, the pandemic hasn’t dramatically hastened store closures and bankruptcies the way it has in the US. What’s their secret?