Fashion
YCH Group, a supply chain management, and logistics company in Asia-Pacific, has launched a retail hub in Xiamen, China, which is envisioned to support the Pilot Free Trade Zone project in the region.
The project, which will be the first major mall in the region, will serve the needs of the population in the immediate vicinity and the rapidly growing city of Xiamen. It will be managed by YCH Group on behalf of XPD-YCH Logistics, a joint venture between YCH Group and Xiamen Port Development, a subsidiary of the Xiamen Port Group.
Spanning 55,000 square meters with a built-up space of 100,000 square meters, the facility was converted from XPD-YCH Logistics’ existing warehouse in Xiamen and will be fully operational this month.
This comes at an opportune time as Xiamen, which is currently one of the fastest growing cities in China, is growing at 6.7 percent with a population of 4.4 million. Aside from local demand, the mall aims to cater to the burgeoning Chinese retail scene while playing a key role in strengthening Xiamen’s status as one of China’s most popular tourist destinations.
According to the Xiamen Tourism Bureau, Xiamen receives 1.63 million tourists from home and abroad, and rakes in RBM1.853 billion ($258.9 million) in tourism revenue. Moreover, China has also overtaken the US to become the world’s largest retail market in 2016 with total sales of $4.886 trillion.
Two of the most well-known brands in China – Sam’s Club and Red Star Macalline – will form the mall’s anchor tenants, occupying approximately 85 percent of the facility. This will be the first Sam’s Club Store opened in Xiamen by Wal-Mart, and will be the 15th Sam’s Club store across 13 cities in China.
Sam’s Club is a division of Wal-Mart, the world’s largest retailer. It offers an extensive inventory with exceptional value on famous-brand merchandise at “member only” prices for both business and personal use.
Red Star Macalline, on the other hand, is the largest national home improvement and furniture retail platform in China, with stores in most major cities in China. It targets the rapidly growing middle class in China through the operation of malls that offer home improvement and furniture materials, including flooring, bathroom and kitchen fixtures, with approximately 18,000 well-known brands.
Strategically situated within the Pilot Free Trade Zone, the mall is located in a highly populated region in Xiamen and is in close proximity to both air and sea ports and numerous famous hotels, bringing numerous trade and business benefits for prospective clients.
“With the dynamic and growing retail sector in the country, we want to equip retailers with game-changing capabilities that help them simplify processes and optimize costs. This will enable them to remain competitive while simultaneously boosting trade and facilities investment for China with the Pilot Free Trade Zone,” said Koh Yong Seng, Operations Director of North Asia, YCH Group.
