Primo Global Holdings Co., Ltd. is opening the I-PRIMO Tianjin Joy City Store in Tianjin Joy City, a large-scale commercial facility in Tianjin, China, on July 22nd (Fri.), becoming our second store in Tianjin.

◆Tianjin Joy City: A Shopping Mall with Many Jewelry Brands
Tianjin is a directly administered municipality in the People’s Republic of China and one of the country’s National Central Cities. Located 30 minutes by high-speed rail from the capital city of Beijing, Tianjin is home to 13.73 million people. (※) The city has a large number of so-called MAC households, meaning families made up of “middle-class, affluent customers”, and the total number of couples marrying each year there is comparable to Shanghai. As more wedding-related events are held, an increasing number of customers are looking for bridal merchandise. Tianjin Joy City, the location of our new store, is a complex commercial and residential facility that opened in 2011, featuring a shopping mall, office buildings and serviced apartments. It is also the largest commercial facility in the area, boasting annual sales of 3.36 billion yuan in 2021. With 300 stores, mainly fashion-forward international brand stores, along with many jewelry brand stores, we can expect to attract customers shopping around for bridal jewelry. In addition, the facility is also easily accessible, with adjacent subway access to Gulou Station, meaning that brand recognition for the I-PRIMO Brand will increase further. 
 

◆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. 
 

※ 2021 Survey, National Bureau of Statistics of China