Florentia Village to Further Expand in China with the 7th Outlet to be Built in Chongqing

Florentia Village, China’s leading Italian designer outlet, announced today that it will invest RMB 1 billion to build an outlet in Chongqing, as a further step to tap the huge market potential in China.

The Chongqing outlet will be the 7th footprint of Florentia Village to expand its luxury territory in China, other six outlets are located in Shanghai, Beijing-Tianjin, Guangzhou-Foshan, Wuhan, Chengdu and Hong Kong.

Florentia Village in Tianjin

“With Florentia Village Chongqing, we have accomplished our strategic business development in major cities in China,” said Mr. Maurizio Lupi, the Managing Director of Florentia Village and RDM Asia, referring to the expected opening of Florentia Village Chongqing, together with the Phase 4 project in Florentia Village Beijing-Tianjin and Phase 2 project in Florentia Village Shanghai, by the end of next year.

Maurizio Lupi said that they will continue to introduce new brands into existing outlets, and in the next phase, Florentia Village will explore more opportunities in lower-tier regions with plans to be disclosed in the 2nd half this year.

According to Maurizio Lupi, Florentia Village will carefully evaluate potential cities and strategic locations and pipelines to attract consumers from 1st- tier to 3rd-tier cities. To consider a new outlet investment, Florentia Village will seek locations with an average of 60-minute drive from the city center but easily accessible via highways, public transport, and airports.

China is now experiencing a booming season of outlet development; it is reported that a total of 46 outlets opened last year, and more than 40 new outlets are expected to open this year. Many lower tier cities saw their first outlet last year, and analysts accredited the outlet popularity to increasing household income, luxury brand awareness and loyalty as well as car ownership.

Florentia Village in Tianjin

Among the fierce competition and growing supply of outlets in China, Florentia Village stands out with its strong international luxury management expertise. It registered total revenue of RMB 6.7 billion last year, representing a 22% year-on-year increase. Total traffic last year was 13.6 million.

In 2017, Florentia Village Shanghai saw a 29% year-on-year sales increase while Guangzhou-Foshan outlet hit a high of 40% percent sales increase. Among the outstanding performance, Florentia Village Beijing-Tianjin impressed the market with the highest business efficiency in the industry.

“We are very proud of our performance in China, especially in the top-tier cities. The markets responded positively, giving us confidence to further expand,” said Maurizio Lupi.

“Chongqing has been developing quickly in recent years. The city is full of energy; people there are looking for diversified lifestyle and shopping experience,” said Maurizio Lupi, who believed that the Italian leisurely culture and luxury location that Florentia Village offers will be embraced by local people. The Chongqing outlet, together with Chengdu, will be the two drivers for Florentia Village to tap the market in western region in China.

In the Chongqing plan, the new outlet will locate in Shapingba area. The first phase outlet will cover an area of 30,000-square-meter and offer Chongqing residents and tourists an authentic Italian experience.

Florentia Village in Shanghai

Inspired by classic Italian architecture like Annunciation Cathedral, San Marco Venice, Medici Castle, Florentia Village Chongqing will restore these magnificent buildings similar to other Florentia Village outlets around the country., likewise customers can find over 200 renowned brands from Europe, United States and Asia, including a wide range of luxury goods at a year round discount and an authentic taste of Italian cuisine.

FLORENTIA VILLAGE PROFILE

Florentia Village is China’s leading Italian designer outlet under the Italian real estate development group, RDM. Florentia Village was first launched in 2011 and currently has a total of six outlets across Greater China, located in Tianjin, Shanghai, Guangzhou, Wuhan, Chengdu and Hong Kong. The outlets’ distinctive Italian architecture paints a vivid image of Florentia from ancient Rome and the Renaissance age by combining plazas, galleys, fountains and monumental buildings to deliver a one of a kind shopping environment. Florentia Village carries over 300renowned brands from Europe, United States and Asia at a year-round discount of up to 80% off.

Through RDM’s extensive network of contacts within the global retail community, the stores are leased to the most prestigious luxury fashion brands. To date, Florentia Village has achieved a combined total leasing area of 300,000 m2, a total of 1,200 shops, and has attracted upwards of 18 million visitors annually. As the leading international designer outlet in Greater China, Florentia Village brings an unparalleled Italian style and shopping experience to the region.

 

For more information, please refer to our official accounts:

Website: www.florentiavillage.com 

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