Mr Adrian Cheng, Executive Director of New World Department Store China Limited ("NWDS" or the "Company"; Hong Kong stock code: 825) which is one of the largest owners and operators of department stores in the PRC, today took the media to visit the three stores of NWDS in Shenyang that are under rebranding progress, as well as presenting his strategic planning and idea of Building a New Brand and Retail Roadmap. As the third generation of the billionaire Dr Cheng Yu-Tung and the new generation of leader for the family business, Adrian Cheng is filled with ambitions towards the New Brand and Retail Roadmap. The New Brand and Retail Roadmap comprises various business perspectives, including National Department Stores, Renowned Jewellery Stores, International Prestige Brands, Popular Watch Brand and Sports Brands.In addition, Adrian Cheng also initiates Innovative Brand Concept and is active in Retail Investment. With innovative mindset and profound financial management experience, as well as painstaking and decisive working attitude, Adrian Cheng is successfully leading his gigantic New Brand and Retail Roadmap into a new page.
Adrian Cheng manages 33 department stores across China including seven "Ba Li Chun Tian" branded department stores in Shanghai. As one of the largest owners and operators of department stores in the PRC, NWDS is the China retail flagship of New World Development Company Limited. Established in 1993, the department store retail chain of NWDS covers 17 major cities in the PRC, including Beijing, Shanghai, Shenyang and Wuhan etc, with an aggregate floor area over 1,060,000 sq m. Under the leadership of Adrian, NWDS was successfully listed in the main board of Hong Kong Stock Exchange in 2007. By then, Adrian has brought many new visions and new operation strategies into NWDS including the reinforcement of the strategy of "multiple presences within a single city". This strategy has injected lots of competitive edges for the business, including the adoption of complimentary operation mode, the increase of market share, the enlargement of customer base as well as enjoying economies of scale and synergy effect. With keen perception and vision, Adrian Cheng initiates and leads the rebranding program of NWDS. In order to stay competitive in the retail industry, NWDS abandons the conventional store positioning by "Class Basis" and initiates "Fashion Style" and "Living Style" concept for NWDS in the retail industry, laying a foundation for the gigantic New Brand and Retail Roadmap. It is expected that the rebranding plan will act as an imitation example for other counterparts. Adrian believes that with the rebranded new image, not only the number of transactions will increase, customer traffic will raise, loyalty to the store will enhance, but also customer base will be enlarged, further strengthening NWDS as the leading department store operator in the PRC. Besides, Adrian is confident of the development of NWDS and plans to open two to three stores every year with an increase of gross floor area by about 60,000-90,000 sq m.. Series of remarkable strategies not only prove the leadership skills of Adrian but also ensure the outstanding performance of NWDS as the first successful step of building the New Brand and Retail Roadmap.
Besides NWDS, Adrian Cheng has initiated a brand new concept of establishing and managing the world's first Art Mall, K11, with the vision of Art. People.Nature. K11 will be opened in Hong Kong in December 2009, bringing customers with a new sensation and refreshed shopping experience. Adrian plans to open outlets with the same concept in Beijing, Wuhan and Shenyang with a gross floor area of about 700,000 sq m in 5 years. Besides, the innovative eco-friendly homes and offices with the same vision will be opened in the next two years, incorporating arts with living.
The New Brand and Retail Roadmap of Adrian Cheng also includes taking part in managing over 800 Chow Tai Fook Jewellery stores across Asia, one of the most famous and largest jewellery brand in the PRC and Hong Kong. The number of stores will rise to 1,000 by 2010. Adrian not only creates a new fine jewellery line, but also introduces the most prestige Italian brand, MOSCHINO, to Chow Tai Fook, as well as acquired the most popular domestic China brands, Sea-Gull Watch, which has been introduced to Hong Kong. Adrian plans to increase the number of Sea-Gull Watch Stores in the Greater China to 30. Adrian also invests in the retail sector actively, including Renhe Commercial, the largest operator and developer of underground shopping centers for apparel and accessories in China and takes part in the establishment of the brand-new platform, QSL Sports Limited, promoting the professionalization and popularity of Sports development in China.
Adrian Cheng, the third generation of the billionaire Dr Cheng Yu-Tung and the new generation of leader for the family business, as well as the Executive Director of NWDS, said, "Innovative mindset and development with vision are necessary to build the New Brand and Retail Roadmap. It is important to be familiar with the market and seize the opportunity arise with advanced trial over counterparts. Our focus is not only on a single brand development but utilizing the advantages of various brand concepts to build a fabulous New Brand and Retail Roadmap. NWDS will continue to strive to consolidate its leading position in the PRC retail market, laying a solid foundation for the New Brand and Retail Roadmap as well as fostering its brighter future."