Korea’s Eland Aims At Ten Shopping Centers In China In 2016
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South Korean apparel brand Eland plans to develop ten shopping centers in China before the end of 2016. Eland started tapping the shopping center market in China from January 2016. By cooperating with Parkson, the company aims to transfer traditional department stores into city outlets. For the next step, Eland will cooperate with other department stores and shopping malls in China, aiming to open ten shopping centers in this marketplace before the end of 2016. For the year 2017, the company aims to have over 30 outlets and by 2020, they aim at 500 outlets and sales scale of CNY200 billion.
Eland Group has 56 Newcore Outlets in South Korea. The company plans to bring its successful operating model and experience into China and transfer traditional department stores into city outlets to attract young consumers.
At present, Eland has opened two shopping centers in China, one cooperating with Parkson in Shanghai and the other cooperating with Hualian in Chengdu. In addition, Parkson previously closed a store in Nanchang in September 2016 and said they will team with Eland Group to implement transformation and upgrades for the store.
Questions & Answers
Q.How many shopping centers does Eland intend to open in China by the end of 2016?
How many shopping centers does Eland intend to open in China by the end of 2016?
Eland plans to open ten shopping centers in China before the end of 2016. They have already opened two centres in Shanghai and Chengdu.
Q.What is Eland's strategy for entering the Chinese shopping center market?
What is Eland's strategy for entering the Chinese shopping center market?
Eland plans to convert traditional department stores into city outlets. They aim to attract young consumers using their successful operating model from South Korea.
Q.With which companies has Eland partnered for its initial shopping center openings in China?
With which companies has Eland partnered for its initial shopping center openings in China?
Eland has partnered with Parkson for a shopping centre in Shanghai and with Hualian for a centre in Chengdu. Parkson also plans to team with Eland for a store in Nanchang.
Q.What are Eland's long-term expansion goals for its outlets in China?
What are Eland's long-term expansion goals for its outlets in China?
By 2017, Eland aims to have over 30 outlets in China. The company plans to expand to 500 outlets by 2020, targeting sales of CNY200 billion.
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