ZARA Guangzhou No.1 shop dystocia mainstream big vacancy CBD

In recent developments, ZARA, a well-known fast fashion brand from Spain, has made its presence in the first floor of Teem Plaza. However, the store is currently undergoing intensive renovation. Recently, rumors have spread that ZARA's "One Sign Shop" might be leaving the Wanling Exchange, but it seems the brand is shifting its focus to other locations instead. According to Zheng Weixin, Executive Deputy General Manager of Vanguard Industrial (Guangdong) Co., Ltd., ZARA will not withdraw from the Wanling Exchange, and although renovation is ongoing, the exact opening date remains uncertain. This move may be part of a strategic decision. Earlier last year, ZARA had signed an agreement with Guangzhou’s Wanlinghui, aiming to open a flagship store spanning around 2,000 square meters on the first and second floors. Despite this, the store has remained closed for months, with only ZARA signage visible. Industry insiders suggest that many brands prefer to enter Taikoo Hui, considered a leader in high-end retail in Tianhe District. However, some brands face challenges in securing space due to exclusive contracts with Swire Pacific, which restricts the opening of multiple branches within the same area. ZARA's potential shift to Tianhe City could be a result of these constraints. The rule against having two branches in the same district is common in Guangzhou, making it highly likely that ZARA will leave Wanlinghui behind. Despite the absence of major luxury brands in Guangzhou’s CBD, ZARA and H&M remain key players in the fast fashion market, often seen as benchmarks for high-end brands looking to expand. Currently, there is only one H&M in Guangzhou, while top luxury brands like LV, Hermes, Dior, and others have limited presence in the city. While many department stores in Guangzhou have tried to attract brands such as Ferragamo and Versace, their product offerings and image still fall short of expectations. Recently, GUCCI returned to Guangzhou after leaving due to property issues, settling in La Perle. However, despite cooperation with Swire Properties, Guangzhou’s Pacific Exchange has yet to attract both GUCCI and Hermes. According to Li Qingwen, a director at DTZ, luxury brands are expanding more rapidly in second- and third-tier cities than in Guangzhou, which is relatively slower in welcoming big names. Despite this, Guangzhou still holds significant luxury consumption power. In 2009, La Perle reached sales of 700 million yuan, growing steadily by 20% monthly. Guangzhou Friendship reported luxury sales between 8-10 billion yuan, with international brands like Cartier achieving over 50 million in annual sales. Moreover, the number of high-net-worth individuals in Guangzhou continues to grow, with a large portion of the population aged 25-35 being among the youngest luxury consumers globally. This indicates strong purchasing power and potential for growth in the luxury market. Although Guangzhou ranks high in total merchandise consumption—surpassing 2 trillion yuan in 2010—it still lags behind second- and third-tier cities in attracting major luxury brands. This is partly due to the lower cost of investment and more favorable policies offered in those cities. In conclusion, while Guangzhou possesses substantial luxury consumer demand, the city faces challenges in attracting and retaining top-tier luxury brands. However, with continued economic growth and evolving consumer behavior, the luxury market in Guangzhou is expected to see further development in the coming years.

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