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 debut on the first floor of Teem Plaza. The store is currently undergoing intensive renovations, and there have been rumors circulating in the industry that ZARA may be withdrawing from the Wanling Exchange. However, according to Zheng Weixin, Executive Deputy General Manager of Vanguard Industrial (Guangdong) Co., Ltd., ZARA has no intention of leaving the Wanling Exchange. He mentioned that while renovations are ongoing and will continue after the Spring Festival this year, the exact opening date remains uncertain. This situation has sparked speculation about whether ZARA is considering a second option. In July last year, ZARA signed an agreement with Guangzhou Wanlinghui with the goal of establishing a flagship store covering around 2,000 square meters on the first and second floors of the mall. Despite the long-term presence of ZARA signage, the store has yet to open. Industry insiders suggest that Taikoo Hui is seen as the future leader of high-end commerce in Tianhe district, making it a top choice for many brands. However, some brands have faced delays in negotiations, and the possibility of opening in Wanling Department remains unclear. A key factor behind these delays could be the exclusive contracts between brands and Swire Pacific. These agreements often prevent the same brand from opening multiple stores within the same business district. As a result, some brands have had to look elsewhere, which might explain why ZARA has shifted its focus to Tianhe City. The rule that "a district cannot have two branches" is a common industry practice in Guangzhou, making it highly likely that ZARA's departure from Wanlinghui is imminent. Despite the absence of major luxury brands in the CBD, ZARA and H&M have always been considered benchmarks for high-end fashion expansion. Currently, there is only one H&M in Guangzhou, and major luxury brands like LV, Hermes, Dior, and Prada each operate just one store in the city. While several department stores in Guangzhou, such as West Tower Friendship Shopping Center and Landmark Plaza, have introduced international names, their offerings still fall short of the high-end standards expected in the area. Recently, GUCCI, the third-largest luxury group under PPR, returned to Guangzhou after leaving due to property issues, settling in La Perle. Although Guangzhou Pacific Exchange has maintained good relations with Swire Properties, it has not yet managed to attract both GUCCI and Hermes. Meanwhile, La Perle’s success with GUCCI took over a year to materialize. While luxury brands have accelerated their expansion in Guangzhou, they remain slower compared to second- and third-tier cities. According to Li Qingwen, a director at DTZ, Guangzhou still lags behind in introducing major luxury names. However, the city’s high-end consumer base is substantial. For example, La Perle reported sales of 700 million yuan in 2009, growing steadily by 20% monthly. Guangzhou Friendship’s luxury sales reached 8–10 billion yuan in 2009, with Cartier hitting 50 million in annual sales. High-net-worth individuals in Guangzhou also show strong spending power, with diamond card members increasing significantly in recent years. The 2009 Hurun Wealth Report highlights Guangzhou’s large number of millionaires and billionaires, with a significant portion aged 25–35, making them among the youngest luxury consumers globally. On average, luxury goods consumers in Guangzhou spend around 70,000 yuan annually, showcasing strong purchasing power. Despite this, luxury brands have not fully capitalized on Guangzhou’s potential. Second- and third-tier cities often offer more favorable investment policies, including rent-free periods and renovation subsidies. For instance, Hangzhou offered three years of free rent and government support to attract LV, while Tianjin promised sales targets and even encouraged staff to buy products to meet them. In contrast, Guangzhou’s real estate developers have been more cautious. Some have refused to meet luxury brands’ demands, citing concerns over high renovation costs or aesthetic requirements. This hesitation has led to missed opportunities, as seen with the Zhongyi City Plaza incident where Gucci was turned down due to facade renovation disputes. While Guangzhou’s consumption power is impressive, with total merchandise sales exceeding 2 trillion yuan in 2010, the city still faces challenges in attracting mainstream luxury brands. As the market evolves, however, there is still considerable room for growth in Guangzhou’s luxury sector.

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