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10 Jan

NWDS Acquires Beijing Liying Store and Converted it into a Self-owned Store

Total Number of Self-Owned Store Increased to 36

New World Department Store China Limited ("NWDS") is pleased to announce that Beijing New World Liying Department Store ("Beijing Liying Store"), NWDS's managed store has been converted into a self-owned store since 1 January 2012.

The five-storey Beijing Liying Store with a GFA of about 52,000 sq m is located at Wangjingguangshun South Road in Chaoyang District, which is close to the airport highway and Jingshun Road, loosely connected to Fourth Wing Road, Jingcheng Express Road and Fifth Ring Road, enjoying a convenient transportation network. Situated at the junction of the major economic zones in Beijing, the store is the nearest integrated department store from the airport with only 15-minute drive from Beijing International Airport.

As a "one-stop shopping" Living Gallery, Beijing Liying Store has been striving to be the most influential community-based department store in Wangjing district since its opening in 2008. In 2011, the store focused on the readjustment of women's wear, men's casual wear and cosmetics, which the total number of concessionaires for the three categories was expanded from 47 to 62, gradually increased the influence of brands in the store. Among them, the sales of cosmetics after the renovation increased 49% in comparison to that of the same period in 2010. The store is expected to bring in more well-known international brands of cosmetics and clothing in the coming year. In addition, Beijing Liying Store has strategically focused on the commercial circles of airport, Beiyuan and Shaoyaoju since 2011, strive to aggressively expanding its market share in these three business zones and enhancing brand awareness.

In addition to exploring business opportunities by revamping, Beijing Liying Store also placed great importance on enhancing customer loyalty through innovative marketing activities and improving VIP service. In 2011, the store held a wide range of activities covering fashion, cultural, arts, sports and other aspects with focus on all customers and VIPs from different sectors. Special highlighting events include "Shopping Expert Show", "Spring Photography Exhibition", "3V3 Basketball Contest", "Wangjing Goods Exchange Fair", "Wangjing Arts Festival" and the meeting with NBA superstar Paul Pierce during UEFA Champions League, creating hot topic one after another in the region.

Mr Philip Cheung, Managing Director and Executive Director of NWDS said, "The acquisition of Beijing Liying Store is significant for NWDS's development in Beijing City. After the acquisition, all the five stores in Beijing became NWDS's self-owned stores, among them 3 are living galleries, namely Beijing New World Department Store, Beijing New World Qianzi Department Store and Beijing Liying Store; while 2 are fashion galleries, Beijing New World Trendy Department Store and Beijing Shishang New World Department Store, bringing NWDS's total number of self-owned stores to 36. At present, NWDS's business in Beijing covers three commercial circles, namely Chongwen, Chaoyang and Shunyi, which strengthened NWDS's leading position in Beijing, fully exerting our expansion strategy of ‘multiple presences in a single city'. In future, we will continue to identify high-quality development projects in Beijing, further enhancing NWDS's operational efficiency."