Will Shenzhen Become the Next Shanghai with 28 Stores of Luxury Brands Opened in 2021?

A great number of luxury brands have held unmissable exhibitions and opened first stores in Shenzhen one after another, which could suggest that Shenzhen bears enormous potential for the fashion industry.

Unmissable Exhibitions by Luxury Brands

To put on an exhibition by luxury brands requires the cooperation among multiple divisions both home and abroad. The decision is made by taking into consideration the bigger picture such as the existing realities of the city and its consumers. According to LuxeCO, 5 luxury brands have held exhibitions in Shenzhen between November and December. They are listed as follows:

• Louis Vuitton LOUIS VUITTON &
• Cartier CLASH DE CARTIER;
• Dior ART'N DIOR;
• BVLGARI MAGNIFICA ROMA;
• Van Cleef& Arpels The Art of Movement.

First Stores of Luxury Brands

According to the data included in LuxeCO’s past reports, 27 luxury brands established 28 boutique stores in Shenzhen in 2021, with the majority being either their first stores in southern China or in Shenzhen.

The 27 luxury brands include Hermès, Louis Vuitton, Chanel, Cartier, Loewe, CHAUMET, Dior, Delvaux, Qeelin, Kilian, Editions de Parfums FrédéricMalle, Harry Winston, Christian Louboutin, Boucheron, BVLGARI, Berluti, Brunello Cucinelli, Moynat, Jaeger-LeCoultre, Hublot, Balmain, Van Cleef and Arpels, AudemarsPiguet, Bonpoint, Goyard, Roger Dubuis and Mikimoto.

Of all the initial stores, 12 are the first located in southern China and 8 in Shenzhen.

Top Luxury Brands Set up Stores at Bao’an Airport

In December 7 last year, Shenzhen Bao'an International Airport’s Domestic Arrival Hall (Satellite Terminal) was put into operation. According to Savills plc, one by one, luxury brands have established stores at the Transportation Operations Center. They include Gucci’s first store at airport in southern China, Mark Fast’s first store at airport in southern China, YSL’s first store of fragrance and cosmetics at domestic airports and lululemon’s first store at airport in southern China.

Meanwhile, many other brands also launched their stores at the Terminal, such as Omega, Burberry, Bottega Veneta, Saint Laurent, Balenciaga, Alexander McQueen, Qeelin, Jimmy Choo and so on. Among them, Prada’s new establishment is the second direct-sale store at an airport after the one at Sanya International Airport.

Upscale Commercial Complexes

Currently, Shenzhen is home to 2 luxury malls owned by China Resources (Holdings) Co., Ltd., the Mixc at Luohu District and the Mixc at Shenzhen Bay:

• Opened in 2004, the Mixc at Luohu District boasts of a great number of luxury brands such as Hermès, Louis Vuitton, Burberry, Prada, Gucci, BVLGARI, Cartier, Fendi, Celine, Tiffany and Co., Bottega Veneta, MiuMiu, IWC and so on.
• The Mixc at Shenzhen Bay is home to luxury brands like Hermès, Chanel, Louis Vuitton, Dior, Burberry, BVLGARI, Cartier, CHAUMET, Van Cleef and Arpels, Loewe, Christian Louboutin, AudemarsPiguet, Harry Winston, Goyard and so on.

On December 3, the group opened the Mixc at Qianhai, a concept shopping center featuring “Art of Living.” 222 brands set up their stores here and among them 43 have entered Shenzhen for the first time.

Some upscale complexes such as K11 and SCCmall are under construction.

——K11

K11 Mall will be located by the newly built cruise terminal in Shekou, with total GFA of 430,000 square meters. The project will be completed in stages from 2024 onward.

——SCCmall in Shenzhen

Shimao Commercial Center enjoys a total investment of 50 billion yuan with SCCmall as the largest shopping center in volume under construction in the Longgang District. The mall has a total volume of more than 200,000 square meters and it can house 400 stores. The fifth Waldorf Astoria Hotel in China will be situated in the mall.

In the future, more high-quality urban projects will pop up in Shenzhen, such as the C Future City project, the renovation project of Hubei village in Luohu District with a total area of 2 million square meters, Shenzhen Bay Super Headquarters Base and so on. The Shenzhen government is also seeking opportunities to introduce high-end projects such as SKP owned by the Beijing Hualian Group Investment Holding Co., Ltd..

“Stylish Shenzhen” Poised to Be in the Spotlight

Robust economic development in Shenzhen has solidly paved the way for consumption of luxury goods. In 2020, Shenzhen’s GDP amounted to 2.77 trillion yuan, ranking it as the fifth among Asian cities. A great number of large corporations also have chosen Shenzhen to set up their headquarters, including Tencent, Huawei, BYD, S.F. Express, just to name a few.

Shenzhen Fashion Week came to an end last October, during which over 300 commercial and designer brands were displayed; and 60% of them fell into the second category. Sophisticated fashion clothing companies such as Shenzhen Ellassay Fashion Co., Ltd. and Ying’er Fashion also took part in the show.

Pan Ming, head of the Shenzhen Garment Association said: “Close to 20,000 designers work in the clothing industry in Shenzhen. Over 80% of the growing businesses in the industry can keep an annual growth rate of revenue at over 10% for three years in a row, far exceeding the industry average.”

| Photo Credit: CFP

| Writer: Crystal