Primo Global Holdings Co., Ltd. is opening a second I-PRIMO store in Wuhan, China at the large-scale shopping mall Wuhan Mix C on June 18th (Sat.). This store is our 20th store opening, with previous openings in Shanghai, Hangzhou, Shenzhen, Beijing, Chengdu, Suzhou, Chongqing, Wuhan, Tianjin, Nanjing, Nanning, Xiamen, and Guangzhou, as we continue the expansion of our business in mainland China.

◆Wuhan MIXC: The Wuhan Area’s First Landmark Mall
Located in the eastern part of Hubei Province, Wuhan is the provincial capital, and the only sub-provincial city in Central China. Known as one of China’s leading industrial cities, Wuhan has a population of 9 million people, with more than 80,000 marriages each year.(※) In addition to a large urban population, more than 80 universities and other educational institutions are concentrated here. Because of this, 20 percent of Wuhan’s population is in their 20s, making the city an area with a large potential bridal market. This new store location will be in Wuhan MIXC, which opened in June 2022. As the first landmark mall built in central China, the Wuhan MIXC complex is directly connected to the Wuhan Metro Xianggang Road Station and features a shopping mall, office buildings, and luxury housing. With 490 stores, mainly international brand stores, along with several jewelry brands, we can expect to attract customers shopping around for bridal jewelry.  
 

◆Business Development in Mainland China: Continuing Store Openings for Further Market Penetration
Since opening our first store in Shanghai in July 2016, our company has expanded into Hangzhou, Shenzhen, Beijing, Chengdu, Suzhou, Chongqing, Wuhan, Tianjin, Nanning, Nanning, Xiamen, Guangzhou, and other areas. In mainland China, intermittent lockdowns of cities due to the spread of COVID-19 infections since 2020 has had a major impact on local retail businesses. Even under such conditions, our company’s percentage of overseas sales exceeded 40 percent, and by continuing our expansion into mainland China, we aim to make further progress. In addition to our existing expansion into mainland China, Taiwan, and Hong Kong, we opened our first store in Singapore in June 2022, bringing not only the highest standards of “made in Japan” quality the I-PRIMO brand is known for, but also our conscientious customer service and Japanese-style hospitality to more customers overseas as they make this once-in-a-lifetime purchase. 
 

※ 2020 Survey, National Bureau of Statistics of China