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Shanghai Retail Guide SHANGHAI Cushman & Wakefield Global Cities Retail Guide Cushman & Wakefield | 2018 0 Shanghai has long been an oasis of international shopping. It is increasingly a global financial and economic centre and is the headquarters location for the majority of China’s retailers. Retail sales for 2017 reached ¥1183.03 billion. With a population of just over 24 million and among the highest disposable incomes in China, Shanghai is the largest retail market in the country by retail sales. SHANGHAI Tourism also adds to the already high levels of purchasing power. OVERVIEW The current stock of shopping centres and department stores in Shanghai is roughly 16.16 million sqm. Cushman & Wakefield | 2018 1 SHANGHAI KEY RETAIL STREETS & AREAS EAST NANJING ROAD WEST NANJING ROAD East Nanjing Road is a traditional mid-market retail area West Nanjing Road is Shanghai’s main high-end retail and one of the most popular pedestrian streets in China. street, where Hermes, Louis Vuitton, Prada, Chanel, The pedestrian area has 600,000 sqm of retail space and Gucci and other high profile names can be found on the attracts tourists from all over China. The area has seen an western side of the road. The eastern portion of the West increase in international fast fashion brands. Retail Nanjing Road is emerging as a key fast fashion projects in this area have been under renovation from destination with H&M, Uniqlo, Gap and American Eagle 2016, including No.1 Department Store, Oriental present. HKRI Taikoo Hui Project opened in 2016, Department store and Shimao plaza. boasting 99,000 sqm and becoming the new destination of retail. CSI project in Wujiang Road plans to start renovation in October 2018. MIDDLE HUAIHAI ROAD Middle Huaihai Road is home to an exciting mix of fast fashion and luxury brands and is popular with Shanghai fashion lovers, with the popular F&B area Xintiandi only XUJIAHUI blocks away. This area has welcomed major stores such Xujiahui is a mature retail submarket whose buildings are as Apple, Dolce & Gabanna and Victoria’s Secret. K11 will well-served by public transportation and connected by launch a series of pop-up stores in 2018, including Coco walkways, with a wide range of department stores and Game Centre and Supreme. shopping centres including strong performer Grand Gateway 66. In recent years, Grand Gateway 66 has upgraded its tenant mix. New Project ITC developed by LUJIAZUI SunHongKai will join in Xujiahui in 2019. Xujiahui circle bridge will be completed at the end of 2018, which Lujiazui is Shanghai’s main financial centre, and as such connects several shopping malls together, providing the retail centres here tend to be more upscale. The area convenience for customers. boasts two mega-malls, Super Brand Mall and IFC Mall. The IFC Mall is currently one of Shanghai’s most appreciated luxury malls, with anchor tenants such as Gucci, Bvlgari, and Cartier. A new high-end mall “L+Mall” will open in late 2018, with the anchor of Lafayette. Cushman & Wakefield | 2018 2 SHANGHAI MARKET OVERVIEW KEY AREAS/ CONSUMER PROFILE MAJOR RETAILERS NEW ENTRANTS TYPICAL RENT RANGE OF UNIT STREETS/ PRESENT FOR 200 SQM UNIT SIZES SHOPPING CENTRES Zara, Uniqlo, Gap, Nike, Najing East Road International and domestic Lily, Baleno, Lego ¥50 - 97 per sqm/day 50 - 2,000 31.236390, 121.482423 tourists MetersBonwe, Bosideng, Lining, forever 21 Hermes, LV, Gucci, Prada, Dyson, Iprimo, Atelier Cologne, Najing West Road Regional and domestic Cartier, Tiffany & Co., StarbucksRoastery, Valextra, ¥60 - 120 per sqm/day 80 - 1,500 31.228306, 121.456130 Chinese luxury consumers Omega, Rolex, Uniqlo, Natura Bisse H&M, Sephora Mainly attracts local Shanghai Dolce & Gabbana, Middle Huaihai Road Gentle Monster, LineFriends professional workers and Burbery, Coach, Gap, ¥30 - 105 per sqm/day 100 - 3,000 31.221963, 121.470774 ,Victoria’s Secret, Oppo Flagship some international tourists H&M, Adidas Flagpship Local residents and workers, Xujiahui Gucci, Juicy Couture, ACBC, ITO, Qeelin, Pandora, younger age groups and ¥63 - 100 per sqm/day 150 - 800 31.194105, 121.438064 Hugo Boss, Zara Space NK, Tasaki ,Les Nereides students Targeting middle income Zhongshan Park i.t., CK Jeans, H&M, G- Life Fitness, Nars, Refined City, residents in the west part of ¥29 – 50 per sqm/day 150 - 1,200 31.219111, 121.416680 Star Cos, Onitsukatiger, Boy London Shanghai. H&M, Sephora, Uniqlo, Massimo Dutti, Wujiaochang Targeting local residents living Zara, C&A, Muji , Viviennewestwood, ¥25 - 67 per sqm/day 80 - 800 31.300270, 121.514057 in the surrounding area. New Look Harbor House, Pred perry Wealthy financial centre Hermes, LV, Gucci, Prada, workers, residents from Thom Browne, Lujiazui Chanel, Burberry, Dior, surrounding areas, and Christian Louboutin, ¥ 40 – 150 per sqm/day 100 - 500 31.238086, 121.501607 Giorgio Armani, Muji, international and domestic Alice Olivia ,Tous H&M tourists Cushman & Wakefield | 2018 3 SHANGHAI SHOPPING CENTRES PLAZA 66 HKRI TAIKOO HUI Plaza 66 is situated on Nanjing West Road. This shopping HKRI Taikoo Hui is a prime shopping mall in Nanjing West mall is focused on the luxury segment, with an impressive Road. It is home to various multinational and domestic array of global luxury brands, such as Louis Vuitton, tenants such as Chanel and Dyson. It is the first choice for Prada, Chanel, and Hermes. new brands and concept stores entering into Shanghai like Starbucks Roastery. KERRY CENTRE The Kerry Centre is a premium shopping centre on GRAND GATEWAY Nanjing West Road targeting middle to high income Grand Gateway 66 is the busiest shopping mall in Xujiahui consumers seeking trendy luxury fashion and innovative with the greatest variety of brands, F&B and design brands. Key tenants include Burberry and entertainment. Grand Gateway 66 is devoted to high end Abercrombie & Fitch. brands, and there is a significant waiting list of brands wanting to enter the project. IAPM IFC MALL The International APM Mall offers office, residential, and retail space on Huaihai Middle Road. The largest mall in IFC Mall is the most luxurious mall in Shanghai. Unlike its that location, it provides a full product range in their IAPM major competitor Plaza 66 in Puxi area, IFC has a larger location, the first store opened by the brand in China, and retail GLA allowing it to cover a more comprehensive Givenchy has announced a new flagship store in the range of categories, and a broader range of price points. centre. RAFFLES CITY Raffles City is one of the most popular fashion landmarks in Shanghai, targeting younger consumers. Raffles is targeted by many new mid to high international fashion brands entering the China market, including Samatha Thavasa and Superdry. Cushman & Wakefield | 2018 4 SHANGHAI FOOD & BEVERAGE According to the 2017 China consumer F&B is becoming an important role in shopping centres report released by CBN Data, Shanghai which could take over 50% of the tenant mix. Michelin released 2016 Michelin Guide Shanghai, which raised ranks No.1 in the national index of F&B new fine dining trends. consuming power, and consumer tastes have diversified further. FOOD & BEVERAGE RENT FOR 350 KEY AREAS CONSUMER PROFILE OPERATORS SQM UNIT Lady M,Kabb, Wagas, Element Middle Huaihai Road Office staff, local residents and ¥ 25 - 30 per Fresh, (Xintiandi) expatriates. sqm/day Oyama Sushi Jean Georges, Mr & Mrs Bund, Affluent local people and ¥ 20 - 25 per The Bund Omakase, Jean Georges, M on expatriates. sqm/day the Bund Affluent people both domestic and Osteria, Lost Heaven, Pirata, ¥ 25 - 30 per French Concession international. Green and Safe sqm/day International and domestic Shendacheng, KFC, McDonald’s, ¥ 35 - 40 per Nanjing East Road tourists Pizza Hut sqm/day Regional and domestic Chinese Seul & seul , Saigon Mama ¥ 40 - 43 per Nanjing West Road luxury consumers. ,UMI,Starz Kicthen sqm/day International tourists and local Nanxiang Crab Soup Bun ,Local ¥ 25 – 30 per Yu Garden residents. snacks sqm/day Wealthy financial center workers, residents from surrounding areas, Lady M ,Morton’s, Jumbo ¥ 50 - 60 per Lujiazui and international and domestic Seafood sqm/day tourists. Cushman & Wakefield | 2018 5 WE ARE ROBIN RAO Head of Retail, East China Cushman & Wakefield 42F, Tower 2, Plaza 66, 1366 Nanjing West LEADING Road, Shanghai Tel: +86 (0)21 2208 0230 Mob: +86 1381658671 INNOVATING [email protected] WEIYING GUO TRUSTED Manager, Retail Tenant Representation, China Cushman & Wakefield Units 2606-2609, The Headquarters Building 168 Xizang Zhong Lu, Shanghai, China EXPERTS Tel: +86 (0)21 2320 0816 Mob: +86 139 1748 1947 [email protected] ONE TEAM CLIENT FIRST CREATING OPPORTUNITIES GLOBAL No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. © 2018 Cushman & Wakefield LLP. All rights reserved. Cushman & Wakefield | 2018 6.
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