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 its fourth store in Beijing - Beijing Shishang New World Department Store ("Beijing Shishang Store"), is expected to commence operation in 2010.
Beijing Shishang Store is located at Bonding Center, Chongwen district, with a gross floor area ("GFA") of about 40,000 sq.m.. The new self-owned store will bring the aggregate GFA of NWDS's operations in Beijing with an additional area of 22% to 224,400 sq.m.. Beijing Shishang Store and Beijing New World Shopping Mall are complementary stores in Chongwen business circle. Beijing New World Shopping Mall is a one-stop shopping "Living Gallery" which can meet the needs of families and consumers in all age, aiming to become the preferential place of leisure and entertainment for people in Beijing whereas Beijing Shishang Store is a themed "Fashion Gallery". Appearing as the first "Feminine Club" department store in Beijing, the store targets high income OL group and strives to be the trendy landmark for the ladies in Beijing.
Beijing Shishang Store hires all male frontline salesperson to provide attentive services for customers. Besides, it is planned to launch the largest pet shop inside department store with numerous kinds of pets in Beijing, equipped with pet cosmetic corner, aquarium, birds' corner, crawlies' corner and special creatures corner etc. It is indeed a new and exciting place for ladies who love pets. In addition, it is planned to introduce bookstore with composite operation mode to provide drinks & snacks, organize book-signing event and experts seminars etc. The store will also initiate "All-in-one Brand" concept, selling various commodities of the same brand. In order to satisfy the desire towards fashion of OL, the store will introduce various renowned local designer brands and bring in Japanese & Korean style fashion shops, leading to a more plentiful fashion portfolio. Besides, VIP classroom with tailor-made courses for ladies will be held periodically, fully taking care of female customers' needs.
Mr. Adrian Cheng, Executive Director of NWDS, said, 'As the retail arm of New World retail kingdom, Beijing is one of the most important cities in Northern China region. We operated the first managed store in Beijing as early as 1998. We have 3 stores in Beijing at present, together with the new Beijing Shishang Store, NWDS will dominate the famous Chongwen and Chaoyang business circles, further strengthening Beijing as the core city for business development of Northern China. In addition, the opening of the Beijing Shishang Store will raise the no. of stores in Northern China region to six, substantially increase the market share in the region. In future, we will continue to pursue expansion strategies of "multiple presences in a single city" and "radiation cities" to enlarge our presence in China. We will also expand and radiate from the core city of each operational region for development in order to enjoy economies of scale and synergy effect, striving to maintain a strong position in the retail market with infinite business opportunities and continue to grow.'