K11 Shopping Center Will Trigger Retail Reform

< p > reported that Zhou Dafu group and new world development shareholder Zheng Yutong family's third generation Zheng Zhigang founded K11 brand, and opened in Shanghai after Tsim Sha Tsui, so as to realize the group's new retail mode after the new world department store in the mainland.

Zheng Zhigang, executive director of the new world, said that the K11 shopping Art Center, through the combination of shopping malls and art, to attract stable customers, add value to shareholders, and put some of the proceeds back into culture, is a sustainable business form, which will set off a retail business reform.

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< p > Shanghai K11 mall has an area of 38 thousand square meters, with an office area of 81 thousand square meters. It was renovated from Hong Kong New World building and spent 400 million yuan, which lasted for 2 and a half years.

Zheng Zhigang pointed out that after the renovation, the rental of the shops increased by 70%, the office rents increased by 30%, and the growth rate of sales income was not yet calculated. It is estimated that 5 to 6 years will be available.

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< p > < strong > US $1 billion to build the 19 item < /strong > /p >

< p > Zheng Zhigang said that the revenue of Hongkong K11 doubled, so that he was confident that he could bring the model to the mainland cities, but whether he could take root in the locality depended on whether he was sufficiently localized and needed to be changed.

He plans to push K11 to 11 cities such as Beijing, Shenyang and Qingdao. After 5 to 6 years, it will achieve 19 projects, including 14 shopping centers and 5 office buildings, with a total area of 1 million 600 thousand square meters, with an estimated investment of about 1 billion dollars.

Hopefully, retail stores will have more than 20 billion yuan monthly sales and 350 million people.

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Why do we spend more time and energy in shopping malls? Zheng Zhigang said that consumers do not have no money but are more prudent.

As the market becomes more and more subdivided, it is necessary to find its own unique value proposition (value orientation), and gain advantage through differential competition. K11 is born of this concept.

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Zheng Zhigang, who is tired of the old shopping mall mode and has a unique attitude towards art, has set up a brand that promotes cultural and artistic activities through non profit making activities. It also enables the public to feel new and unique shopping experience through the commercial platform. P

Business and art have always been difficult to achieve, but Shanghai K11 has successfully integrated them.

The rental rate of its shopping malls is 100%, a total of 120 shops, 1 million people a month, and the average daily income of shops is between 20 and 400 thousand yuan.

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< p > < strong > all rented monthly flow of millions of people < /strong > /p >

< p > whether the new world will focus on K11 in the future development of China? Zheng Zhigang said that the mainland of China is still at a stage of development. Not all cities can accept new concepts and models.

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< p > for the Hongkong government's first hand housing sales Ordinance, he bluntly stated that the developer needed time to digest, but the last financial year has passed. In July, it is not the selling season. The company is currently under no pressure, and even if it spends time exploring, it can slowly make up for it later.

At the same time, he did not think that the US delisting was negative. Instead, he felt that the external information was clear and conducive to the property market. The key to see whether the demand was there or not; and the sales of 400 to 5 million of the flats were good, reflecting the continued demand for housing in the market.

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