Expansion plans underway to capture the growth in China
New World Department Stores Ltd (NWDS), the wholly owned subsidiary of New World Development Company Limited (HK stock code: 0017), announced the opening of two more branches at Shanghai-Hong Kong New World Department Store and Wuhan Trendy Plaza. Both opened on December 1, 2001 (Saturday), the two new branches are the tenth and eleventh stores opened by NWDS since its first store came into operation in 1994.
Located in the bustling district of Huaihai Zhonglu, Shanghai-Hong Kong New World Department Store, NWDS's tenth store, houses a collection of middle to high class brands from the world, and is a renowned and prestigious shopping complex in Shanghai as well as in the eastern China. Targeting at the middle-upper to upper class retail sector, the tenth store of NWDS occupies a total area of 22,500sq.m., from two levels down the basement to six floors above ground level. Positioned for the upper class market, the store adapts a marketing strategy of gathering all the famous brands, classic or trendy, in one place, striving to become a popular shopping landmark in Huaihai Zhonglu.
The eleventh store of NWDS and the second in Wuhan, the Wuhan Trendy Plaza is located in Buxing Jie, Jianghan Lu, Bainianlao Jie in the city of Wuhan. The store is at the heart of the shopping area and enjoys easy traffic around. Occupying seven floors above the ground level with a total floor area of 30,000 sq.m., the store is positioned for the middle to middle-upper retail market. The new store complements with the first New World department store in Wuhan in the marketing strategy by focusing on young and fashionable commodities for female as well as diversified and individualised service.
In just eight years' time since its establishment in 1993, New World Department Stores has already expanded to cover 11 stores with a total area of 280,000sq. m. under its management:
1st store opened in Wuhan
2nd store opened in Shenyang
3rd store opened in Wuxi
4th store opened in Harbin
5th store opened in Tianjin
6th store opened in Ningbo
7th store opened in Beijing
8th store opened in Hong Kong
9th store opened store in Shenyang (2nd store in Shenyang)
10th store opened in Shanghai
11th store opened in Wuhan (2nd store in Wuhan)
Currently, a few projects are under planning including the Shanghai Xinning Trendy Plaza (the second store in Shanghai), Dalian New World Department Store and Nanjing New World Department Store. In future , NWDS will actively expand its business to some major cities with high growth potentials such as Guangzhou, Shenzhen,Chengdu, Hangzhou, Xian,etc.