Primo Global Holdings Co., Ltd. announces the grand opening on Thursday, June 16, 2022 of the I-PRIMO Guangzhou PARC CENTRAL Store, our first store location in Guangzhou, China, inside the city’s PARC CENTRAL shopping mall. 

◆PARC CENTRAL: A SHOPPING MALL Targeting Guangzhou’s Young Elite
Guangzhou is a Tier-1 City located in China’s Guangdong Province. With a population of 13.23 million people(※), Guangzhou is the economic, cultural, educational and transportation center not only of Guangdong Province but also of greater south China. As a city with the third-largest number of marrying couples behind Beijing and Shanghai, Guangzhou is attractive for bridal-related markets. This time we are opening our new store in PARC CENTRAL, a shopping mall that opened in March 2016. The mall’s unique design, which looks likes huge double carp are leaping out of Tianhe, is at the forefront of spatial design and is attracting a younger generation, resulting in annual sales of 4 billion yuan in 2020, the highest sales in the region. The facility is home to 205 stores, primarily international brands and many flagship stores first opening in Guangzhou, along with several jewelry brands, so we can expect to attract customers who are shopping around in search of 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