On May 12 (Sat), Primo Japan Inc. will open the new I-PRIMO Hangzhou MixC Store on the B1 floor of Hangzhou MixC, a large commercial facility in Hangzhou, Zhejiang Province. I-PRIMO Hangzhou is our sixth store in mainland China, following four existing stores in the greater Shanghai area and one existing store in Hangzhou.

 

Located to the east of West Lake, a symbol of Hangzhou, the city’s Qianjiang district was newly developed in the 21st century as a central administrative district, and has been attracting attention as a place that combines a large number of office buildings, cultural facilities, and luxury housing. It was in this district that Hangzhou MixC, Hangzhou’s first large-scale shopping mall, opened in 2010. Covering a total area of 240,000 square meters, Hangzhou MixC has from the start offered global fashion, cosmetics and fine jewelry brands, with 220 tenants occupying the facility. Conveniently located with direct access from the Qianjiang subway station, the mall is packed with a large number of shoppers each day.

 

In September 2017, our company opened the I-PRIMO Grand Canal Place Store in Hangzhou. Business at this location has been going well, and we consider Hangzhou as one of our most promising markets. In the two years since we entered the Chinese market, the I-PRIMO brand has attained our clearly defined brand values of “Japanese standards of excellence in product quality” and “Detail-oriented quality customer service” as a result of aggressive marketing campaigns in the greater Shanghai area through both online and offline platforms. In fiscal year 2018, we plan to further expand our store network, including new locations within this new area, laying the foundation for solid growth, further strengthening our company and the human resources that support growth throughout the entire Primo Group, establishing local procurement channels for some of our products, and much more.