NWDS launches the Eighth and Ninth Store in Shanghai Pioneering Move to Potential Community Zones
New World Department Store China Limited ("NWDS" or the "Company"; Hong Kong stock code: 825), one of the largest owners and operators of department stores in the PRC, is pleased to announce that the Company will open the eighth and ninth store in Shanghai, Shanghai-Hong Kong New World Department Store-Baoshan Branch Store ("Shanghai Baoshan Branch Store") and Shanghai-Hong Kong New World Department Store-Chengshan Branch Store ("Shanghai Chengshan Branch Store"). The two new self-owned stores will commence operation in 2010, demonstrating the competitive edges brought by the strategy of "multiple stores in a single city".
Shanghai Baoshan Branch Store is situated at the interchange of Baoshan District, Zhabei District and Putuo District.Locating at the core area of Dahua Hucheng, it is surrounded by numerous communities including four towns in three districts,namely Dachang Town in Baoshan District, Zhenyu Town & Taopu Town of Putuo District and Pangpu Town in Zhabei District.It is also close to office buildings and boutique hotels. Situated in the center of Dahua Jinxiu, Shanghai Chengshan Branch Store is located at Chengshan Road, Pudong New District, where the commercial circle covers five long-established communities including Dahua, Changli,Sanlin Shibo, Nanxin and Luchuan with numerous housing estates. Both stores are located at large-scale community centers of Pudong and Baoshan District respectively in which huge demand for shopping, leisure, F&B and entertainment services are anticipated. Therefore, the two stores will be developed as "One-stop shopping" Living Galleries,providing commodities and services that suitable for families as well as catering for their needs in terms of "Clothing", "Dining", "Living", "Travelling" and "Entertainment". The gross floor area ("GFA") of Shanghai Baoshan Branch Store and Shanghai Chengshan Branch Store are 39,000 sq m and 38,000 sq m respectively. After commencement of operation, the two stores not only will bring the aggregate GFA of NWDS's operations in Shanghai with an additional area of 39% to 273,330 sq m but also will increase the no. of stores in Eastern China Region to 14.
Shanghai Baoshan Branch Store is a 7-storey department store with carpark.It will render services of dentist clinic, beauty center, children photography facilities,interest classes, children playground and exhibition zone for household products etc, providing people of all ages and both genders with all aspects of daily livings. Besides, a discounted sports zone will be introduced, offering sports lovers with sporting goods at attractive bargain prices. Shanghai Chengshan Branch Store consists of four storeys, apart from merchandises of fashion and accessories for male & female, beddings and decorations, the store is planned to develop Beauty Gallery, outlet for family merchandises and children recreation area etc., bringing refreshed leisure and entertainment experience for all family members. In addition, the two stores are planned to bring in different categories as well as numerous choices of F&B stores, offering assorted snacks and dried foods for customers with cuisine from all around the world.
Mr Adrian Cheng, Executive Director of NWDS, said, "Shanghai is the Company's core growth city of Eastern China Region. After the penetration since 2001, we have already opened seven department stores with a consolidated retail network established. The opening of Shanghai Baoshan Branch Store and Shanghai Chengshan Branch Store not only adopts a consistent strategy of "multiple stores in a single city" to enjoy the synergy effects and economics of scale, but also taking the lead to establish footholds in newly developed potential community circles in Shanghai. Meanwhile, proper community planning of Baoshan District by local government also facilitates the development of Shanghai Baoshan Branch Store. Besides, Shanghai Chengshan Branch Store is situated close to the location of World Expo 2010 Shanghai.It is expected that the store can take the advantage of the location and attract numerous tourists from home and abroad. The Company will continue to adopt the strategy of "multiple stores in a single city" as well as penetrating into potential circles in order to increase the market share and lay a solid foundation for building a new brand and retail roadmap."