Wangfujing Spanformation Shopping Center Should Be The Best

In the downtown area of Xi'an, a shopping centre called CityOn Hedi port opened in the past few days. The shopping mall, which looks slightly Korean, is actually a joint venture between the Wangfujing group's Limited by Share Ltd and the American shopping center professional Taboman shopping center.

As of the end of March 2016, the company has published 88 annual reports or newsletters. According to the two indicators of revenue and net profit, the drop in revenue is 47%. Net profit The decline was 60%, with a double drop of 33% in revenue and net profit and 15% in losses. China's retail industry emerged in 2015.

Xi'an CityOn Hedi port shopping center is a joint venture built by TA Berman Asia and Wangfujing. The proportion of capital contribution is 50% each. In the downtown area of Xi'an, a shopping centre called CityOn Hedi port opened in the past few days.

The shopping mall, which looks a little Korean, is in fact a joint venture established by the Wangfujing brand Limited by Share Ltd (hereinafter referred to as Wangfujing) and the American shopping center professional Taboman Shopping Center (hereinafter referred to as "tower man").

Reporters learned that the joint venture to establish the above shopping center, marking the "old brand" Wangfujing is moving from department stores to shopping centers and even large commercial complexes such as the direction of the spanformation of orts, which is Wangfujing in recent years encountered a decline in the department store market and "shut shop tide" after the search for new profit points.

Xi'an CityOn Hedi port shopping center is a joint venture built by TA Berman Asia and Wangfujing. The proportion of capital contribution is 50% each. There are 7 floors in the CityOn shopping centre in Xi'an. The total rental area is more than 90 thousand square meters, and the main store is Wangfujing department store. This project is the first project in the Chinese market developed by the cooperation between Asia and Wangfujing.

The main investment brands of CityOn Hedi port (Xi'an) shopping center include BJILMODA, COACH, GAP, H&M, Zara and several sub license Zarahome, MassimoDutti, Bershka, Oysho, Stradivarius and so on.

"This is the first project we have done in China. Now there are more than 200 shops, including all kinds of retailers and catering outlets. Our partner Wangfujing has played an important role in the development of the project." Taboman, chairman, President and chief executive officer, Robert Taboman (RobertS.Taubman) accepted the first Financial Daily reporter's interview.

The two sides set up CityOn port in the form of joint venture. The specific mode of operation and management is mainly based on the Taboman team. The whole project is jointly studied by the Wangfujing team and the Taboman team from research, location, planning and shop selection. The final implementation is the responsibility of the tower's team.

In fact, he had entered the Asian market ten years ago. "When we first entered Asia, the emphasis was not on the Chinese market, but on other parts of Asia. 5 years ago, we refocused our strategic focus and focused our attention on the Chinese market. Robert Taboman said.

Taboman revealed that in addition to this Xi'an CityOn Hedi port, Taboman will continue to joint venture with Wangfujing to build CityOn Zhengzhou port, Zhengzhou project is still under construction, is expected to debut in October this year. If Taboman can borrow the cooperation of the two sides to "overweight" the Chinese market, then what is the "abacus" of Wangfujing?

According to the joint business network report, in the 93 listed retail companies listed in the 2015 retail sales list, as of the end of March 2016, there were 88 companies that published annual reports or newsletters. According to the two indicators of revenue and net profit, the drop in revenue was 47%, net profit fell 60%, revenue and net profit fell 33%, and the loss was 15%. China's retail industry emerged in 2015. From a single company's opening shop in 2015, Wangfujing opened a new store in 2015. In recent years, Zhanjiang, Zhuzhou and Fushun Wangfujing department stores have been closed down.

"With the impact of the electricity supplier and high cost, the physical retail industry can only take the road of small shops or large experiential shopping centers. The department stores, which operate in the form of" joint point deduction ", lack of price advantages and experiential formats, are in an awkward position. Wangfujing is the" time-honored brand "of the department store industry, which is the most difficult to develop. type of operation Its spanformation is necessary. " Ding Haozhou, a senior analyst with retail industry, said.

"We hope that Wangfujing will diversify in the future. Besides our department stores, we will mainly develop shopping centers and even create outlets in the future. According to the location of shopping centers, there are two categories: City shopping centers and regional shopping centers. Different brands are selected according to their location. Liu Bing, the former chairman of the Wangfujing group, who is responsible for the joint venture project of Xi'an CityOn Hedi port, told reporters that cooperation with Taboman is actually a spanformation for Wangfujing.

In the interview, the reporter learned that compared to the department store format, shopping centers and outlets have commercial real estate value added, and they can also use experiential formats to attract customers to deal with the impact of the electricity supplier, but the large commercial complex investment is also very large, and the investment return period is longer.

So why doesn't Wangfujing turn to the electronic business platform?

"We always believe that in China's retail market, physical stores are essential to consumers. It's unthinkable that everyone is shopping online. As we are concerned, we must stick to the physical store. Because lifestyle, experience and so on still want to go to the store. Physical stores still have some irreplaceable characteristics. " Liu Bing said frankly that he noticed the problem of online and offline interactive connection, and will also carry out WiFi coverage, parking location, navigation and other services in the future.

Not only Wangfujing, a large number of retailers are closing up, but the department stores have become the "worst hit areas" because of their embarrassment. Bailian, BBK, Jinying department stores and other industries are seeking new profit points through the test of water electricity providers or spanformation of investment in shopping malls.