New World Department Store China Limited ("NWDS" or the "Company"; Hong Kong stock code: 825), one of the largest owners and operators of department stores in the PRC, is pleased to announce the soft opening of its sixth Wuhan store, Wuhan New World Department Store - Hanyang Branch Store ("Wuhan Hanyang Branch Store"), on 1 Nov 2008.
Located at Hanyang's city centre - Zhong Jia Cun Commercial Circle, Wuhan Hanyang Branch Store enjoys excellent geographical location and convenient transportation. It is close to Changjiang Bridge's extension to Hanyang and situated right on the hub of the "Three towns of Wuhan". The new store is surrounded by a cluster of residential and commercial buildings, facing Min Dong International, leaning on Dou Shi Lan Ting and reclining to Han Shang Yin Zuo. It is expected to radiate its coverage to the areas ten kilometers away including Shi Li Pu, Er Qiao Road and as far as Wang Jia Bay etc in future.
The opening of Wuhan Hanyang Branch Store marks NWDS's foray to Hanyang District among the "Three Towns of Wuhan". It also enlarges the Company's store portfolio in Wuhan to six stores in which further strengthens its influence in Wuhan and the Central China Region. Wuhan Hanyang self-owned store occupies six levels and a basement carpark, with a gross floor area ("GFA") of approximately 53,000 sq m. The store's first to fifth level, with a GFA of about 43,000 sq m, will enter into service first while the sixth level will commence operation next year.
The population in Hanyang District mainly comprises young families, however, shopping, leisure and services amenities are insufficient. The Company grasps this opportunity and positions Wuhan Hanyang Branch Store in the mid-high end market. It is set up as an integrated department store which consolidates shopping, entertainment, dining and service under one roof. The store features five themed zones as its attractions, namely Stylish Brand Zone, Chic Young Ladies' Zone, Ladies' and Children's Zone, Gentlemen's Zone and Sports and Leisure Zone.
Leveraging on the Company's edge of regional business alliance in Wuhan, the new store introduces over 400 renowned brands and a large portion of them enter Hanyang market for the first time. Spacious areas are especially set for dining and leisure services, while personal care stores and a western restaurant with a blend of exotic and local style are introduced to form a unique and leisure one-stop shopping environment. Wuhan Hanyang Branch Store also fully demonstrates its mission of "customer comes first" by introducing comprehensive service, ranging from washing laundry to hair and beauty salon, as well as providing value-added and heartfelt customer services include umbrella-lending service, gift packaging service, clothes and shoes adjustment services in order to provide the most satisfying shopping experience to customers.
Mr Adrian Cheng, Executive Director of NWDS, said, "Wuhan is the origin of the Company's business in China. It is also our core city for development in the Central China Region. The new store in Wuhan aligns with our expansion strategy of 'multiple presences within a single city'. Together with our stores in Changsha and Xiamen, the opening of the new store brings our foothold in the Central China Region to eight stores. In view of the challenges ahead, we will maintain a cautiously optimistic outlook and we believe the China retail market still promises great growth potential. Our further expansion in existing markets and radiation into the satellite cities or provinces of the core city can ensure the steady development throughout the Company and amplify its competitive advantages, so as to achieve our ultimate goal to become a dominant department store operator in the PRC."
Mr Philip Cheung, Executive Director and Managing Director of NWDS, added, "Our six stores in Wuhan cover major commercial zones. All of them are located in prime locations boasting great convenience and heavy pedestrian flow. Wuhan Hanyang Branch Store is the largest store among the Company's existing presence in the city. Through introducing diversified leisure facilities, considerate and professional services and various dynamic outdoor promotional activities, the store is able to provide unprecedented convenience to our customers. We expect to create a unique image for Wuhan Hanyang Branch Store and therefore extending reach to consumer groups in different fields in Wuhan, which in turn, further broadens the customer base for NWDS."