Luxury store expansion
4/3/2004 17:26
Maison Mode Department Store, the first luxury product retailer in
Shanghai, is seeking a business expansion out of the city, today's Youth Daily
reported.
After 10 years of low profile operation, representatives are
traveling around China, with plans to open three to five more stores in other
cities on the mainland, the store's vice general manager Gu Linwei said
yesterday.
According to sources close to the store, Maison Mode is more
interested in cities with lower administrative levels but higher economic energy
compared to capital cities. Suzhou, Wuxi, Changzhou and Wenzhou seem more
favorable.
Despite the mainland expansion plan, Maison Mode is still viewing
Shanghai as its prime market, Gu pointed out, adding, "If possible, we hope to
open one more store in Shanghai".
"After all, the existing store on the
Changshu Road needs enhancement in business scale and shopping environment," he
said.
But choice of location remains the biggest problem for the new store,
he said. According to close sources, newly built business centers may be
preferred.
It is hard for luxury products stores to remain in business,
industry analysts pointed out. As well as requiring a huge capital base, it
usually takes a long period to cultivate the market.
Jane Chen / Shanghai Daily news
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