On December 6 (Fri), Primo Japan will open the new I-PRIMO Store on the Sino-Ocean Taikoo Li Chengdu, complex commercial facility in the center of Chengdu city, Sichuan province, China.The I-PRIMO Sino-Ocean Taikoo Li Chengdu Store is our first store in Chengdu as well as the tenth store in mainland China, following four existing store in Shanghai, two in Hangzhou, one in Shenzhen and two in Beijing.

Chengdu: A city that combines history and commerce

 

Located in China’s central Sichuan Province, Chengdu is the provincial capital of the province and home to 16 million people.(*1)  In addition to its designation as a National Historic and Cultural City for its rich cultural heritage, the city’s economy has been revitalized by economic development in Mainland China, blending the wonderfully preserved ancient cityscape with contemporary culture. In 2018, the number of marriages in Chengdu exceeded 130,000 (*2), making it a city that is also attracting attention as a bridal market. Our newly opened Sino Ocean Taikoo Li Chengdu store is located on Chunxi Road, the city’s popular shopping district, known for its historic monuments and buildings built in traditional architectural styles scattered about the modern low-rise cityscape. Along with global luxury brands and Michelin restaurants, the shopping district is crowded with many shoppers each day, due to its convenient location adjacent to the Chunxi Road subway station.

New Store Openings Planned in New Areas: A look ahead to the expansion of our business in China

 

Since our first Mainland China store opening in Shanghai in July 2016, we have opened stores in Hangzhou, Shenzhen and Beijing, successfully expanding our presence on the Chinese mainland to a total of 10 stores. As of the end of 2018, our overseas sales rate was approximately 30%, and is estimated to rise to 40% in our new mid-term management report as we open additional stores in Mainland China. We will continue to promote the I-PRIMO brand and further expand our business in Mainland China going forward.

 

*1, *2) Source: 2018 Survey by Sichuan Bureau of Statistics, China