Old Buddha'S Department Store! What Changes Will Be Made In Hangzhou'S Department Stores?

Galeries Lafayette, located at 40 Osman Avenue, Paris, France, is called "Lord Buddha" because it is a fashionable pilgrimage to Europe.

From Paris to Hangzhou, it takes almost 11 hours to fly.

However, for two cities with very high vogue, Chanel, LV, Gucci and other luxury brand new products are globally synchronized. From another point of view, the two cities have very high relevance in fashion.

A little incident a week ago made this connection more intimate and more imaginative.

I.T group works hand in hand with Beijing, Financial Street.

Chen Huijun, executive director of Paris's Lafayette department store (China) Limited, came down at the beginning of the month.

He did not disclose whether he was looking for the right property for Paris's Lafayette department store (China) Limited, but he did not deny that many olive branches had extended to him, but "still picking".

Just two months ago, the heavyweight department store in the world opened the "China shop plan". The first station chose Beijing, and the Xidan store has been settled. Shanghai, Hangzhou, Tianjin and Chengdu are also under its plan.

The plan was 14 years away from the first visit to China by Paris's old Buddha in 1997.

14 years later, Paris's old Buddha faced a country of luxury consumption growing at an alarming rate, a market for luxury brands and a good opportunity to let it return to China's land.

For the Hangzhou department store retailers, if Lord Buddha really came to Hangzhou, it might be a good opportunity to pform the department store industry. What changes did the 150 year old legendary department store bring to the Hangzhou department store?

Only time can give us the answer.

The group is planning to enter the city, and Hangzhou ranks among them.

About the trip to Hangzhou at the beginning of the month, although Chen Huijun did not disclose that it was chosen for the location of Paris's old Buddha's department store (China) Co., Ltd., he admitted that Hangzhou is indeed a city with great interest.

"In the public information of Lord Buddha in Paris, there is only one shop that is clear at present, located at Xidan Beijing North Street spiritual alley."

Chen Huijun said, the company spent a year or two in Beijing site selection, finally chose the largest passenger traffic in Xidan, the shopping mall area is about 50 thousand square meters, Lord Buddha took the ground floor to the five floors of the department store, is currently under construction, tentatively scheduled for spring and summer 2013.

If everything goes well, the Xidan store in Beijing will be the first direct department store in the Asian region, but this is just the beginning.

"We hope that the Xidan store can radiate the entire Beijing City, while the shops in Beijing can radiate the entire North China region. These are our plans."

Chen Huijun said.

Yes, Beijing is only the first stop for Lord Buddha to enter China, because the "Lord Buddha" group has revealed that in the next 3-5 years, there will be 10-15 "old Buddha" department stores in addition to Beijing, Shanghai, Hangzhou, Macao, Tianjin, Chengdu and other cities.

At present, the Shanghai store is still active in the site selection, but no final signing is "inconvenient to disclose", but Chen Hui Jun said, "there are many commercial properties in different cities have found him, there are also Hangzhou, hoping for further cooperation, but we are still slowly picking."

Joint operation with I.T group of Hongkong

In addition to the executive director of Paris's Lafayette department store (China) Limited, Chen Huijun has another status, and is the managing director of Hongkong fashion clothing retailer I.T group.

Girls who often buy clothes are not strangers to I.T group. There are quite a lot of shops in Hongkong. Many brands and multi-level business models are quite popular among young people.

Moreover, as early as five or six years ago, the I.T group had followed the then Lane Crawford into the store in Hangzhou. Now it has entered many department stores in Hangzhou, and izzue, b+ab, I.T and so on are all its stores.

"Because izzue is the only brand to enter Paris's old Buddha, and has a very deep relationship with Lord Buddha."

Chen Huijun said that because of its very good cooperation in the European market, Galeries Lafayette of France decided to establish a joint venture with I.T, Paris's Lafayette department store (China) Co., Ltd., each holding 50% of the shares. It is responsible for opening, operating and managing department stores in the main cities of Mainland China.

Lord Buddha obviously foresight, choosing a company that is so familiar with the domestic clothing retail market, and taking advantage of its "European brand influence + Asian market experience" mode to play its respective advantages and jointly develop China's high-end department store market, is even more successful.

Location and traffic, what kind of commercial property does Lord Buddha like best?

If you come to Hangzhou, will the old Buddha choose the Wulin business circle in the center of the city or the rising Qianjiang new town?

Chen Huijun did not answer the question positively, but he said "the old Buddha must have the best commercial property".

The so-called "best commercial property" is location + traffic.

"It took us a long time to pick a place, and finally chose Xidan instead of Wangfujing for a reason.

Because although the passenger flow of both places is very prosperous, the former is mainly local guests in Beijing, while the latter is mainly foreign tourists.

Chen Huijun said that the location of old Buddha's Beijing store is very gold, and there is subway interchange nearby. The traffic is quite convenient.

If you choose a commercial property in Hangzhou, Lord Buddha will prefer the traditional and mature business circle. Traffic must be very convenient. This is the standard of choice for commercial property.

Just like the old Buddha shop in Paris downtown, Beijing store is also the gold market, obviously, this heavyweight department store hopes to enter the mature business circle, also has a high demand for passenger flow.

However, for old Buddha, the large commercial property in Hangzhou is relatively small, and it takes some time to find the right place.

China's old lord DNA, who pplanted the old shop, may be a good weapon.

For many Chinese who go to Europe, the old Buddha in Paris can be regarded as a fashion sanctuary. Eiffel Tower and old Buddha are almost everywhere in all the Paris travel routes.

However, for such a localized format of department stores, it is not easy to cross hundreds of stores across the ocean.

"Lord Buddha has a history of 150 years. The essence of France and the whole European culture is deeply printed in this department store, and now it has become the platform for European fashion trend. We will try to pplant its DNA, and of course, it will be suitable for China's local market."

Chen Huijun said.

Taking the European culture as the foundation and absorbing the excellent brand of domestic creative designers is the most likely pattern adopted by the old Buddha.

A lot of buyers take part in department stores, while others are excellent modern brands both at home and abroad.

"To have Style" means to have a unique style and personality, and for most of the most similar department stores in China, this may mean a new road.

"The sales volume of domestic department stores is very high and business is very large, but there are not enough department stores with individual characteristics, so I think there is a lot of room for it."

Chen Huijun said that some people say that Shopping Mall will be alone in the future, but he doesn't think so. As long as he has his own personality and provides interesting things to customers, department stores, Outlets and the fourth generation of commercial bodies will have a very strong market.

Heard that old Buddha is coming to Hangzhou, and the senior members of department stores also have some expectations: "if Lord Buddha can come to Hangzhou, it will be a great thing for local department stores."

If you meet a good opponent, you will inspire your potential. "

Will there be more foreign department stores entering Hangzhou after Lord Buddha's day?

In fact, when Lord Buddha announces the "China shop plan", it is said that the old British luxury department store Harrods will also be located in Shanghai, while the aeon department store in Japan seems to be interested in Hangzhou's Qianjiang new town. The boss has come to Hangzhou to see the property many times, and Fifth Avenue has also come to China to find partners.

While all luxury brands are entering China in the shortest time, the head of foreign department stores is obviously speeding up.

In a recent market survey of the World Luxury Association, Chinese luxury goods abroad have become the number one in the world.

From March 2010 to March 2011, the World Luxury Association surveyed the consumption data of luxury goods in France, Italy and the UK, and found that more than 65% of the effective purchase data were Asians, of which 75% were Chinese.

According to other statistics, Asian luxury goods consumption rose by 69 billion US dollars in the European market last year, and the total consumption of Chinese people was nearly US $50 billion.

Take Paris old Buddha as an example. Many Chinese tourists spend a lot of money there, with a per capita consumption of thirty thousand or forty thousand yuan, while another data show that over 10% of the turnover of the old Buddha's group comes from Chinese tourists.

This is also an important reason why veteran luxury goods stores such as Lord Buddha and Harrods are planning to enter Hangzhou in China.

About Galeries Lafayette department store

It was born in 1893.

At that time, The ophile Bader and Alphonse Kahn cousins decided to open a new department store near the corner of The Paris Opera House, also known as Lafayette road.

Since then, Lafayette has bought Lafayette, No. 1, Osman Road 38, 40 and 42, as well as Chause e d "Antin Road 15", and the property of the department store has gradually expanded.

In 1912, when Lord Buddha was unveiled again, he was hit by a luxurious decoration like a palace.

Under the Byzantine giant carved gold carving dome, the shadow of the people coming and going is like a medieval party. Shopping has become a real enjoyment.

About Hongkong I.T group

Hongkong I.T group was founded in 1988, and I.T Limited was listed in Hongkong in 2005 (stock number: 999). It is a pioneer in leading the fashion apparel retail market.

Through the "multi brand, multi-level" business model, I.T provides customers with a range of clothing products.

The group sells hundreds of international brands, self created brands and licensed brand clothing products at different retail prices, attracting different customer groups.

The leading fashion retail companies with more than 500 branches in Asia has developed into one of the largest fashion groups in Hongkong.