On Thursday, April 6, Primo Global Holdings Co., Ltd. will open the I-PRIMO iAPM Store,  its sixth store in the city of Shanghai, China, in iAPM Mall, a commercial complex in Shanghai, China.

◆ Expansion in the Chinese market, which has a strong sense of trust in the high-quality products of Japanese brands

In mainland China, there is a strong sense of trust in the high-quality products of Japanese brands, which are viewed as high-end. I-PRIMO has operated a total of five stores in Shanghai, China since July 2096, and targets bridal couples in their 20s and 30s, the same demographic as in Japan, but customers in Shanghai paid a higher average purchase price than those in Japan, showing their commitment to the once-in-a-lifetime purchase of a bridal ring. The fact that many customers wish to actually see and touch the high-quality products of Japanese brands before buying despite restrictions on travel to Japan due to the COVID-19 pandemic and our desire to increase our presence in the Chinese market sparked the decision to open a sixth store in Shanghai, the largest city in China.

 

◆ iAPM Mall: The Only Nighttime Shopping Center in Shanghai

Shanghai is the largest city in mainland China, with a population of approximately 25 million*. This attractive bridal market has the second largest number of marriages after Beijing, which is why the opening of the second store is expected to further enhance brand value.

I-PRIMO's strengths, such as meticulous personal support that meets the needs of each customer and our select-order style of delivering one-of-a-kind bridal jewelry that have been well-received by customers in the Chinese market, as well as strong sales performance at our existing stores, have allowed us to open an official store in iAPM Mall, which targets people in their 20s and 30s. iAPM Mall is a large-scale commercial complex that opened in 2013 containing about 210 stores, with a focus on international brands, and since many other jewelry brands also have stores there, we expect a positive effect from customers shopping around for bridal jewelry. As the only nighttime shopping center in the Shanghai area, its long hours meet demand for shopping after work and are expected to increase sales. It is directly connected to South Shaanxi Road Station on Lines 10 and 12 of the Shanghai Metro for excellent access expected to further increase recognition of the I-PRIMO brand.

 

◆ Continued store openings to further advance business in mainland China

Since developing our first overseas store in Taiwan in October 2007, we have expanded our store locations to Hong Kong in 2012 and mainland China in 2016. As of the end of the fiscal period to August 2022, our overseas sales ratio has exceeded 40%, and we aim to make further progress by continuing to open stores overseas. In addition to the existing stores in mainland China, Taiwan, and Hong Kong, we opened our first store in Singapore in November 2022, and through fine service and hospitality and the I-PRIMO brand’s high Japanese standards of product quality, we intend to provide overseas customers with a wide range of purchases that will create the memory of a lifetime.