New luxury store openings in Beijing
Although many of the top luxury brands have formally announced that they would ‘slow’ their expansion in China, it seems that the capital of Beijing is providing them with strong motivation to expand their retail presence. According to a research to be published by CPP-LUXURY.COM later this month, sales of luxury brands, especially fashion, accessories and watches in Beijing have overtaken sales of the same categories in Shanghai. Beijing has been attracting more wealthy Chinese nationals from the provinces, including 3rd and 4 tier cities who are ready to spend locally rather than travel abroad.
New store openings, this Spring in Beijing include: Max Mara (Shin Kong Place Mall), Valentino (Park Life, Yintai Commercial Centre), Louis Vuitton (Park Life, Yintai Commercial Centre), Jil Sander (China World I Mall), Paul Smith (Sanlitun Village North). Versace is expanding its existing store, also at the Peninsula Hotel Beijing.
Louis Vuitton is currrently renovating its flagship store at the Peninsula Hotel Beijing and building at China World its largest store in China (over 3.000 on 4 floors), the Vuitton Maison in Beijing, part of the select Maison flagship stores, due to open late Summer 2013.
Luxury shopping centres under construction in Beijing: Park Green View mixed use complex, luxury shopping gallery at the Four Seasons Hotel Beijing and Maison 5 in Sanlitun.