(8 October 2012 – Hong Kong) New World Department Store China Limited (“NWDS” or the “Company”; Hong Kong stock code: 825), one of the largest owners and operators of department stores in the PRC, is pleased to announce the soft opening of a new managed store, Ningbo New World Huizi Department Store (“Ningbo Huizi Store”) on 29 September 2012.

Located at the Beilun Central Business District (“CBD”) and the intersection of city’s main roads including Yangtze River Road and Taishan Road, Ningbo Huizi Store enjoys a convenient transportation network where can be accessed by many bus routes. In addition to subway, the store is connected with light rail line No. 1and No. 2 which are currently under construction, making it one of the key transportation hubs in Ningbo. The Beilun CBD clusters dining facilities, office buildings, high-end residential complex, hotels, open plaza, and plans to build other large public facilities like Science and Technology Museum and Grand Theatre, indicating the great consumption potential of the district. 

The four-storey Ningbo Huizi Store is positioned as a “one-stop” shopping living gallery with a gross floor area of about 60,000 square meters. During the soft opening, the jewellery, menswear and ladieswear departments on the first and second floor have already commenced operation. The official opening of Ningbo Huizi Store is expected to take place at the end of December this year. By the time, in addition to the fashionable items, approximately 20-30% of the store area will be dedicated to the provision of complementary services such as dining, cinema, beauty salon, hair salon, children's entertainment center to provide an integrated shopping experience for people from all walks of life. On one hand, Ningbo Huizi Store focuses on expanding the youth market, on the other hand, addressing the diversified needs of each family member and introducing sustainable and cultural themed activities, striving to become a new one-stop fashion, shopping and leisure landmark in the Beilun District.

With the plan to accommodate over 400 international and domestic fashion brands after its full launch, Ningbo Huizi Store aims to cater for the needs of customers in formal, causal, entertainment and sports occasions. In line with the Company’s “N-only” exclusive brand strategy, the store will introduce exclusive brands or designer brands into its product portfolio, in which around 15% of them are unique in the district. Other than apparels, the store also plans to introduce more than 20 jewellery brands to provide customers with a wide range of luxury choices. To resonate with our “NWDS-Shopping Paradise for Shoe Lovers" slogan, the store will build a rich collection of over 40 footwear brands which is believed to be the largest in the Beilun District. 

Mr. Philip Cheung, Managing Director and Executive Director of NWDS is positive about the prospects of the new store, said “Opening new managed store is one of our major expansion strategies to capture market shares rapidly. The Company established its presence in Ningbo as early as in 1998 and has developed a good understanding of its consumer market. Ningbo Huizi Store has great advantage in term of the store location which is adjacent to both the thriving business district and the local community, ensuring a sufficient supply of quality customers to the store. The new managed store not only intensifies the Company’s influence in Ningbo, but also helps to build a jointed retail network in the South Eastern Region with other stores in Shanghai and Nanjing to be in line with our ‘radiation city’ and ‘multiple presences within a single city’ expansion strategies.”

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