NWDS launches the Ninth Department Store in Shanghai Adjacent to the Location of World Expo One-stop Shopping Living Gallery
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's ninth store in Shanghai, Shanghai-Hong Kong New World Department Store-Chengshan Branch Store ("Shanghai Chengshan Branch Store"), has commenced operation on 28 April 2010.
Situated in the center of Dahua Jinxiu, Shanghai Chengshan Branch Store is located at Chengshan Road, Pudong New District, where the core business district covers five long-established communities including Dahua, Changli, Sanlin Shibo, Nanxin and Luchuan. There are numerous high-end residential properties nearby with up to 800,000 residents, providing an abundant supply of customers. In addition, Shanghai Chengshan Branch Store is situated near the location of World Expo Shanghai. It is expected that the store can take the advantage of the strategic location and attract many tourists, bringing certain opportunities for the department store.
Shanghai Chengshan Branch Store has 4 storeys with gross floor area ("GFA") of approximately 38,000 sq.m. as well as an underground carpark of 7,000 sq.m.. There are a gourmet supermarket and a number of food and beverage stores on the lower ground floor. In addition, the new store also houses a collection of 30 lifestyle brands. It is believed that this brand new "Living Gallery" will become another hotspot in Shanghai after the opening of Shanghai Baoshan Branch Store. The new self-owned Shanghai Chengshan Branch Store will increase the number of stores and approximate aggregate GFA of NWDS's operations in China to 34 and 1,130,000 sq.m. respectively.
In view of numerous residential estates around Shanghai Chengshan Branch Store, the new store will be positioned as a "One-stop Shopping Department Store" Living Gallery which targets people of all ages and both genders, catering for their needs in terms of "Clothing", "Dining", "Living", "Travelling" and "Entertainment", in order to humor the needs of community zone. 20%-30% of the store area is reserved for providing complementary services, like spa center and beauty gallery exclusively provided for female customers. Besides, household product outlet, homeware corner and one price shop are provided for housewives to purchase low-cost household supplies. The new store also includes a sport outlet with wide variety of discounted products for sports enthusiasts. Moreover, there are more than 32 children's garment and product stores, children's playground, videogame and pre-school education centers as well as children recreation and photography facilities, providing comprehensive care for children. Shanghai Chengshan Branch Store houses a collection of merchandises of fashion and accessories for male and female, gold and jewelry, household products, beddings and small electrical appliances, bringing unprecedented shopping experience to customers. There are also 21 restaurants that offer a delectable range of international and local fare, from Taiwanese noodles to Hong Kong style restaurant, plus dried food and confectionaries, while tourists of World Expo can also purchase souvenirs at our numerous specialty counters.
The design of "Living Gallery" is themed as "Environmental Paradise" with the reddish-orange theme colour, therefore the splendour of nature's elements like butterfly, flower, forest, rainbow, grassland and river have been incorporated into every corner of the store, delivering a lively and relaxing shopping atmosphere. In the meantime, it also heightens the public's green awareness.
Mr. Adrian Cheng, Executive Director of NWDS said, " NWDS identifies the development opportunities in community zones and become one of the pioneers entering these potential areas. It is believed that opening of ‘Living Gallery' with the concept of ‘One-Stop Shopping' at Pudong New District can attract a board range of customer base as the store has excellent geographical location. It is situated in the community zone surrounded by numerous residential estates and close to the World Expo Shanghai that will be held soon. The opening of Shanghai Chengshan Branch Store will increase our number of stores in Shanghai to 9, fully tying in with the expansion strategy of ‘multiple stores in a single city', substantially increase the market share in the region in order to enjoy economics of scale and synergy effect, striving to maintain a strong position in China with infinite business opportunities as well as maintaining a sustainable growth.'