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Shanghai reopens: LV, Prada, Dior, other luxury stores see queues as shopping centres reopen to bouts of revenge spending
- There are 10 major shopping centres, owned by some of Hong Kong’s largest developers, that reopened in Shanghai on Wednesday
- Sun Hung Kai Properties, Swire Properties and Kerry Properties expected to reopen more than 800 stores at their malls
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Prime luxury stores, such as those of fashion houses Louis Vuitton, Prada and Dior proved to be some of the most popular spots for Shanghai residents to queue up on Wednesday, as shopping centres and restaurants reopened after the Chinese commercial hub of 26 million ended its two-month citywide lockdown.
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There are 10 major shopping centres, owned by some of Hong Kong’s largest developers, that reopened in Shanghai on Wednesday. Sun Hung Kai Properties (SHKP), Swire Properties and Kerry Properties expected to reopen more than 800 stores at their malls, according to written confirmation they sent on Tuesday to the South China Morning Post.
“More than 430 stores at five shopping malls will reopen on June 1,” said Maureen Fung Sau-yim, executive director of the chairman’s office at Sun Hung Kai Real Estate Agency, a unit of SHKP. “For Shanghai IFC Mall [in Pudong district] alone, more than 90 per cent of shops will resume business.”
SHKP owns a retail portfolio of 630 stores in five shopping malls including Shanghai IFC Mall, Iapm Mall, One ITC, Two ITC and Shanghai Central Plaza.
About 200 stores are expected to reopen at Swire Properties’ Taikoo Li Qiantan shopping complex in Pudong, while more than 150 stores are to reopen at HKRI Taikoo Hui in Puxi, according to a company spokeswoman.
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