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18 May

NWDS's Forth Store in Beijing Commenced Operation

The First Brand New Fashion Gallery Themed as "Feminine Club"

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 forth store in Beijing, Beijing Shishang New World Department Store ("Beijing Shishang Store"), commenced operation on 13 May 2010. 

Beijing Shishang Store enjoys excellent geographical location, which is strategically located at Bonding Center, Chongwen district; it only takes 5-min walk to Beijing New World Department Store ("Beijing Store"), and adjacent to large government office, leading hotels and major banks. Besides, area within 1km is densely covered by numerous residential units with huge consumption power generated from those middle to high income families. The store is well connected with various public transportation routes, including Metro and a number of bus routes. The convenient location facilitates customers coming to the store to fulfill their needs of shopping and leisure, indicating the infinite potential growth of Beijing Shishang Store. The opening of the new self-owned store will increase the Company's total number of stores to 35, while the aggregate gross floor area will rise to 1,170,000 sq.m.. 

Appearing as the first brand new "Fashion Gallery", Beijing Shishang Store consists of 4-storey with gross floor area of approximately 40,000 sq.m., targeting OL group and striving to be the new trendy landmark for the ladies in Beijing. The new store hires all male frontline salesperson to provide attentive services and shopping advices for female customers from male perspective. The largest and comprehensive indoor pet flagship store is set up in Beijing Shishang Store, which is equipped with pet cosmetic corner, aquarium, birds' corner, crawlies' corner and special creatures' corner, fully taking care all the needs of ladies who love pets. In addition, Beijing Shishang Store makes a breakthrough to replace the conventional store's category basis by introducing an innovative composite operation mode. For instance, the bookstore is operated in composite mode by combining with coffee shop to provide drinks and snacks, as well as broadcasting theme movies and organizing experts seminars and book-signing events. It is indeed a new and exciting hot spot for vogue enthusiasts. The store introduces various renowned local designer brands and houses more than 30 Japanese & Korean style fashion shops, leading to a more plentiful fashion portfolio. Numerous discount sections selling Spanish merchandise, women apparel, outdoor products and household supplies are provided for prudent ladies, satisfying their desires of hunting treasures. Moreover, VIP classroom with tailor-made courses for ladies will be held periodically, fully taking care of female customers' needs. Barrier-free internet service is also provided in Beijing Shishang Store, customers can access to the internet and reply email on the go. 

The design of the new store embodies the elements of modern and dynamic. The use of contrasting images and colors of Beijing Shishang Store reflects its trendy and modern characteristics. Multi-media spaces are developed for customers to receive the latest trendy news; whereas leisure area is decorated with art pieces to indulge shoppers in an artistic mood. 

Mr. Adrian Cheng, Executive Director of NWDS said, "Adhering to the spirit of innovation, NWDS always brings new elements to the domestic department store industry. After initiating a new concept of ‘Fashion Style' and ‘Living Style' as the new operation mode, we have developed the first ‘Fashion Gallery' themed as "Feminine Club" in Beijing. Beijing Shishang Store is tailor-made for ladies, whether students, OL, or housewives can find all they need here, providing assiduous service to female customers. NWDS operated the first store in Beijing as early as 1998, we have 4 stores in Beijing at present, including the new Beijing Shishang Store. The two Living Galleries, Beijing Store and Beijing New World Liying Department Store, and two Fashion Galleries, Beijing New World Trendy Department Store and Beijing Shishang Store, are complementary stores in Beijing, bringing the advantage of one-stop shopping department stores and theme stores to attract different types of customers at the same time. It is believed that the opening of Beijing Shishang Store will further strengthen Beijing as the core city for business development of Northern China, fully tying in with our expansion strategy of ‘multiple presences in a single city'." 

About New World Department Store China Limited 
As New World Development Company Limited's (Hong Kong stock code: 17) retail arm in the PRC, New World Department Store China Limited is one of the largest owners and operators of department stores in the PRC. Established in 1993, NWDS currently operates a large national network of 26* "New World" branded department stores and 9 "Ba Li Chun Tian" (巴黎春天) branded department stores in Shanghai. Among them 25* stores are self-owned while 10 are managed stores. The department store retail chain covers 17 major cities in the PRC, including Beijing, Shanghai, Shenyang and Wuhan etc. The Company was successfully listed on the Main Board of The Stock Exchange of Hong Kong on 12 July 2007. 

Adrian Cheng - Building a New Brand and Retail Roadmap 
As the third generation of the billionaire Dr Cheng Yu-Tung and the new generation of leader for the family business, the renowned Chow Tai Fook Enterprises Limited and New World Group in Hong Kong, Adrian Cheng is leading the Group's brand and retail business into a new page with his new vision and thoughts. 

As the Executive Director of New World Department Store China Limited, Adrian Cheng manages 35* department stores across China including 9 "Ba Li Chun Tian" (巴黎春天) branded department stores in Shanghai, with an aggregate floor area of 1,170,000 sq m. Two to three stores are planned to open every year. In 2009, Mr Cheng took charge in the rebranding of New World Department Stores, making a breakthrough to abandon the conventional class-basis positioning and introduce the concept of "Fashion Style" & "Living Style" as the new positioning of department store, bringing customers an entirely new shopping experience. 

Also, as the Founder & Chairman of K11, Mr Cheng establishes and manages the world's first Art Mall, K11, located in Hong Kong, with the vision of Art • People • Nature. He aims to open outlets with the same concept in Beijing, Wuhan and Shenyang with a gross floor area of about 700,000 sq m. More, innovative eco-friendly homes and offices with the same vision will be opened in the next two years. 

In addition, as the Board of Director of Chow Tai Fook Enterprises Limited, Adrian Cheng takes part in managing 1,000 Chow Tai Fook Jewellery stores across Asia, with an aim to further expand and increase the number of chain stores to over 2,000 by 2020. Mr Cheng also creates a new fine jewellery line for the brand. In 2008, under the leadership of Mr Cheng, Chow Tai Fook acquired the most popular domestic China brand, Sea-Gull Watch, which has been introduced to Hong Kong. It is planned to increase the number of Sea-Gull Watch Stores in the Greater China to 30. Chow Tai Fook also distributes the world's most prestigious Italian sports car brand, FERRARI, in China. 

Moreover, as Managing Director of New World Strategic Investment Company Limited, Adrian Cheng leads the company to invest in the retail sector actively, including Renhe Commercial Holdings Limited, the largest operator and developer of underground shopping centres for apparel and accessories in China, and has become Renhe's second largest shareholder. 

Furthermore, Adrian Cheng established and sits as Chairman of LUXBA Group, which distributes the world's most prestigious Italian fashion brand, MOSCHINO. It also plans to acquire other renowned brands around the world. 

Adrian Cheng is also Executive Director of New World Development Company Limited and Executive Director of New World China Land Limited. He graduated from Harvard University with a Bachelor of Arts (Cum Laude) honour in 2003. Prior to joining New World Group in 2005, Adrian held the position of Associate Director at UBS and Goldman Sachs and has substantial experience in corporate finance and asset management. 

* Figures include Beijing Shishang New World Department Store. 

For further inquiries, please contact: 

New World Department Store China Limited 
Ms. Rebecca Woo 
Director - Corporate Affairs 
Tel: (852) 2753 3903 
Fax: (852) 2318 0884