Florentia Village ready to build seventh China site
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Luxury outlet group Florentia Village is to invest RMB1 billion (US$159 million) in building an outlet in Chongqing, its seventh China location.
Anticipated to be ready within 12 months, the new outlet will be in the Shapingba area of Chengdu, southwest China. It follows Florentia Villages in Shanghai, Beijing-Tianjin, Guangzhou-Foshan, Wuhan, Chengdu and Hong Kong.
“With Florentia Village Chongqing, we will have completed our strategic enterprise growth in China’s main cities,” says MD Maurizio Lupi.
He says the enterprise, which provides reductions of up to 80 per cent on high-end goods will next target lower-tier cities.
Florentia Village will be seeking locales within a 60-minute drive from town centres but accessible by highways, public transport and airports.
Questions & Answers
Q.Where will Florentia Village's seventh Chinese outlet be located?
Where will Florentia Village's seventh Chinese outlet be located?
The new luxury outlet will be built in Chongqing, specifically in the Shapingba area of Chengdu, southwest China. It will join six other existing Florentia Village locations across the country.
Q.What is the expected timeline for the completion of the new Florentia Village site?
What is the expected timeline for the completion of the new Florentia Village site?
The new outlet in Chongqing is anticipated to be ready and operational within 12 months. This timeframe suggests a rapid development for the luxury outlet group's latest expansion.
Q.What is Florentia Village's future expansion strategy in China after this project?
What is Florentia Village's future expansion strategy in China after this project?
After completing the Chongqing site, Florentia Village plans to target lower-tier cities. They will seek locations within a 60-minute drive from town centres, accessible by highways, public transport, and airports.
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