China: Giordano's Flagship Store

Giordano International Ltd., a leading Hong Kong casual wear retailer, opened its biggest store in the world in Shanghai on April 23rd, and became the first Hong Kong retailer to open a solely owned store in the city, taking advantage of the Closer Economic Partnership Arrangement (CEPA).

The store opened at the former location of the Shanghai Overseas Chinese Store on Nanjing Road Pedestrian Mall. With a construction area of 1,600 square meters and a wider selection, the store is rated as Giordano's world flagship store. Giordano's biggest shop in Hong Kong has only a construction area of 900 square meters. In addition to high-end women's and men's wear, the new store has introduced children's wear, which is not available at other Giordano stores in Shanghai.

The company plans to open another 1,000 stores on the mainland in the next five years, most of which will be solely owned and a few franchised.

In Shanghai, Giordano has opened 49 stores, and the fiftieth store was due to open at the end of April.

Giordano's sales in Shanghai exceeded 150 billion yuan (US$18.1 million) last year.

Hong Kong retailers are said to be making new investments on China's mainland following the signing of the CEPA agreement.