Value Retail opens its first luxury outlet shopping centre in China
British based Value Retail Group is inaugurating May 15 its first luxury outlet shopping centre in China. Suzhou Village, known in China as ‘Yi Ou Lai Suzhou’, is situated in Suzhou, one of the oldest cities in the Yangtze River Delta region and approximately 80 km west of Shanghai. Yi Ou Lai Suzhou is the first Village to open in China as part of a new Collection of Villages under the name of ‘Yi Ou Lai’. The new luxury outlet shopping centre which spreads over 35,000 sqm and will feature over 100 stores, cafes, restaurants.
In 2013 a total of 94 million tourists visited the city of Suzhou, half of whom travel to Suzhou on Groups & Events (MICE) trips, spending more than RMB 142 billion ($23.3 billion), while the Suzhou tourism industry has grown by 116% in the last five years.
Suzhou Village will also draw from the Shanghai tourism market, which is rapidly increasing its profile as a global tourism destination. By 2015 the government expects to attract 240 million visits by domestic tourists and 10 million overseas visitors, earning 520 billion Yuan ($78.9 billion) in tourism revenues.