The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The Hong Kong-based real estate group saw double-digit gains in retail revenue across its mainland China properties, according to a fourth quarter operating report released Friday.
Its two Beijing malls, Taikoo Li Sanlitun and One Indigo saw 27 percent and 11 percent year-on-year growth, while Chengdu’s Taikoo Li shopping centre saw revenue grow 21.9 on the year. Taikoo Hui Guangzhou had the group’s biggest yearly jump in revenue, up 33.4 percent, but Taikoo Hui Shanghai was not far behind it, with revenue growth of 28.8 percent.
Swire opened its new Shanghai property, Taikoo Li Qiantan, last October. This latest report doesn’t give any indication of sales for that property, but did say it was running at 90 percent occupancy.
At Swire’s three malls in Hong Kong, retail revenue grew 27.4 percent, 21.6 percent and 8.8 percent year-on-year respectively.
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Swire Opens Colossal Luxury Shopping Centre in Shanghai
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 metres of mixed-use space and boutiques from brands owned by LVMH, Kering and Hermès.
Brands looking to invest in new developments and rapidly changing shopping districts across China’s major cities are scrutinising locations harder than before the economic slowdown.
In the key China market, sports stars are an increasingly popular choice for luxury brands aiming to broaden their appeal while limiting their exposure to scandal-prone entertainers.
Alibaba’s shopping holiday has lost some of its oomph, but remains a potent force for many brands. That, plus what else to watch for in the coming week.
At the latest edition of China’s top fashion week, brands adapted their designs for a more value-minded shopper as retail buyers prepared for a softer local market.