Florentia Village – Shanghai Luxury Designer Outlet Grand Opens in Pudong
Luxury Retail Developer RDM
Group Unveils the Second Designer Outlet in China
Shanghai, 22 January 2015
“Florentia Village – Shanghai Luxury Designer Outlet”, the first authentic Italian luxury designer outlet in Shanghai, was launched in a grand opening ceremony. Invested by Silk Road Holdings and managed by RDM Asia (the real estate development company of Fingen Group and owner of “Florentia village” brand), “Florentia Village – Shanghai Luxury Designer Outlet”, is its second designer outlet in China. Silk Road Holdings’ shareholders include the Italian Fingen Group of the Fratini Family, the Luxemburg based China Outlet Mall controlled by Jacopo Mazzei, the Sino-US Waitex affiliate, Gateway Real Estate fund IV managed by Gaw Capital Partners from Hong Kong as well as a major US institutional investor, and TIAA Henderson Real Estate serves as its investment advisor.
“The opening of ‘Florentia Village - Shanghai Luxury Designer Outlet’ in Pudong is a fundamental milestone to establish Florentia Village as the leading brand in the Luxury Outlet Mall business in China,” Jacopo Mazzei, Chairman and CEO of Florentia Village and RDM Group says in the press conference before the grand ceremony, “We believe the ‘Florentia Village – Shanghai Luxury Designer Outlet’ will truly usher itself in as the premier fashion and lifestyle destination in Shanghai and surrounding area, and is expected to become a major tourist attraction for the region.” Mr. Maurizio Lupi, Managing Director of Florentia Village and RDM Asia, and Mr. Howard Li, sole owner, Chairman and CEO of Waitex Group, participated in the press conference.
As the second designer outlet in China, “Florentia Village – Shanghai Luxury Designer Outlet” boasts strong capital investment: managed by experienced Italian management team, the total investment of the outlet is around 1.5 billion RMB, and the total land covered by the project is approximately 90,000 sqm. Total surface area of Phase I, launched on 22 January, is 63,000 sqm with approx 3,000 parking spaces. Phase II will be 27,000 sqm. Located between Pudong International Airport and China’s first Disneyland, at the intersection of Huazhou Road and Haibin Road, in Zhuqiao Town of Pudong New District, the “Florentia Village – Shanghai Luxury Designer Outlet” is surrounded by the Shanghai belt expressway, Huaxia Highway and Yinbing Highway. With the Yuandong Avenue Station on Shanghai’s Metro Line 2 only 400m away. In addition, 3 shuttle bus lines connect the outlet with the city, including 2 lines from city center (Wujiaochang and Xujiahui) and the one from Metro Line 2 Yuandong Avenue Station.
In fashion and retail, Fingen Group (RDM Asia) has held licenses and developed some major global brands. They have strong relationships with more important Italian and international brands that underpin their outlet business, which are the key factors supporting its outlets development in China. As the first authentic Italian luxury designer outlet in Shanghai, “Florentia Village – Shanghai Luxury Designer Outlet” boasts 200 of the most famous Italian, European, American and Chinese luxury and premium fashion brands, among which 70 stores are already opened, including Armani, Bally, Brooks Brothers, CK jeans, Coach, Etro, Ferragamo, IT, Michael Kors, Moncler, Peutery, Ports, Swarovski, UGG, Versace, Vertu, etc. And before Chinese New Year, Celine, Marc Jacobs, Montblanc, Givenchy, Tod’s, Hugo Boss Zegna and much more stores will be open. The wide collection offers consumers the richest choices possible across China. It offers discounts up to 70% off throughout the year, plus all the items are on vogue.
“Florentia Village – Shanghai Luxury Designer Outlet” provides not only a fashion shopping destination, but also an authentic experience of Italian lifestyle, arts, and culture. It is inspired by classical Italian architectonic styles: beautiful spots of Florence the city of the Renaissance, and the unforgettable Venice and Rome are nicely recreated in the elegant shopping atmosphere using well-known elements like squares with majestic arcades, paved streets, porches, fountains, monumental buildings and all the other decorative elements of the great Italian tradition. Apart from shopping and sightseeing, visitors would get the chance to experience authentic Italian cuisine as well as a wide variety of Chinese and western foods. For an authentic Italian culinary experience, Bella Vita is the top choice.
Since June 2011 when it was opened in Wuqing, Tianjin, “Florentia Village – Jingjin Luxury Designer Outlet”, the first Chinese development in RDM’s international portfolio of retail assets has been welcomed and pursued by consumers in Beijing and Tianjin. By the end of 2014, more than 10 million visitors had visited the village, and its turnover was over 5.5 billion RMB steady growing double digit year by year. The success story in Tianjin boosted greater business confidence for future development in Shanghai and beyond.
According to the “2015 Economic Blue Book” which was recently released by the Chinese Academy of Social Sciences, the country may expect to see a steady growth in 2015 at 7%. It is expected that the total volume of retail sales of consumer goods will rise 11.4%. Shanghai as the leading metropolis in China is the natural choice for RDM to strengthen its China strategy and represent a golden opportunity of growth. Success in Shanghai will be driven by the high levels of customer affluence and greater brand awareness coupled with the attraction of the Florentia Village scheme in this great location.
The shopping spree is just getting started with the grand opening ceremony tonight. The rising buying power of the Chinese consumers is envied by players across the world. Even more outlets are needed to satisfy the growing demand of Chinese Market. Florentia Village is ready to seize the day. “Florentia Village – Guangzhou-Foshan Luxury Designer Outlet” in the Pearl River Delta will open in June 2015. By 2017, Florentia Village first pipeline targets to open seven outlets across China, extending to important second-tier cities such as Chengdu, Chongqing, Wuhan and Qingdao which have been already identified and committed. Italian lifestyle and top quality service will benefit more Chinese customers. The Florentia Village is bound to play a leading role in promoting outlets business development as it continues to build up its leadership in the luxury market in Asia.
For further information, please visit the official website of the Florentia Village:
About Fingen Group (RDM Asia)
The Fingen Group was founded in 1979 and focuses its business in three areas: fashion, retail and real estate development. The real estate development business includes a portfolio of mainly retail and residential / hospitality assets valued at circa US$1.8 billion. It currently manages more than 20 developments with a total surface area of more than 600,000 sqm. In fashion and retail, Fingen Group has held licenses and developed some major global brands including Calvin Klein, Guess and Jean Paul Gaultier.
RDM Group was founded in Italy, and has a strong record of successful real estate development projects. RDM is in the outlet development business for more than 15 years and developed five major centers in Italy in partnership with McArthur Glen, amongst others, Serravalle – the largest outlet mall in Europe. The Designer Outlets are strategically located near the mayor Italian cities, in locations carefully selected to maximize revenues.
RDM Asia has recently teamed up with Emaar Properties in Turkey, one of the world’s most valuable and admired real estate development companies, to develop a new Florentia Village in Istanbul. Construction is near to start for opening 2016.
Waitex was established since 1981 in New York City by Mr. Howard H. Li Chairman and CEO. After 34 years in of continued business growth, Waitex is now a worldwide conglomerate of companies consisting of Global Supply Chain Services, Financial Factoring, Apparel Wholesale and Retail, and High End Real Estate Investment and Development. The group owns more than 10 modern logistic centers in New York, New Jersey and California with a total building area of over 3 million square feet. The group has more than 1,000 employees in the United States and processes more than 5 billion U.S. dollars of goods annually for 500 of the world’s most well known companies. In China, Waitex’s affilate company is the Founding Partner of “Florentia Village –Luxury Designer Outlets” and Creativo Designer Lifestyle Mall. Also Waitex’s affiliate company is investing and developing the V1 Auto World Project. Waitex has been ranked one of the top 200 largest privately held companies in the Greater New York area by Crain’s Business Magazine. Mr. Howard H. Li was selected by Forbes Asia as one of the 25 notable Chinese Americans in U.S. Business.
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company that focuses in real estate markets in greater China and other high barrier-to-entry markets globally.
Specializing in adding strategic value to under-utilised real estate through redesign and repositioning, the firm’s investments span the entire spectrum of real estate sectors, including residential development, commercial offices, retail malls, serviced apartments, and hotels.
Gaw Capital Partners runs an integrated business model with its own in-house asset management operating platforms in retail, hospitality and property development.
Gaw Capital Partners currently manages four real estate funds targeting the Greater China and Asia Pacific region, while Gaw Capital Partners USA is providing services for separate account direct investment and fund management in the US and UK markets. Gaw Capital Partners has raised equity in excess of US$4 billion since 2005 and currently commands assets of US$9 billion under management.
About TIAA Henderson Real Estate
TIAA Henderson Real Estate (TH Real Estate) is an established investment management company with specialization in real estate equity and debt investing worldwide. As one of the largest real estate managers in the world, TH Real Estate has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. With a focus on the retail, office, logistics, debt and multi-family sectors, TH Real Estate emphasizes sustainable practices to protect assets and maximize their value.
Launched in April 2014, the company has a dedicated global presence with offices across Asia and Europe, managing c.US$25.2bn* of real estate assets across c.50 funds and mandates.
Together, the TIAA-CREF real estate and TH Real Estate platforms represent one of the largest real estate investment management enterprises in the world, with a combined total of c. US$79 bn* in real estate assets under management.
TH Real Estate has significant interests in the outlet mall sector. It currently manages the established, market leading European Outlet Mall Fund and UK Outlet Mall Fund in partnership with McArthur Glen. It also entered into a recent strategic partnership with NEINVER to further penetrate the market. On behalf of its clients TH Real Estate currently holds over $3bn of outlet malls assets under management.
The company is jointly owned by TIAA-CREF (60%) and Henderson Global Investors (40%) bringing it a combined track record of over 90 years in global real estate. Its products are managed by specialist teams, which apply their own experience to the management and style of their portfolios. Each team is supported by an experienced senior management team and integrated investment platform, including finance, debt and currency management, performance analytics, client service, fund and transaction structuring, development, sustainability and research.
About Florentia Village – Jingjin Luxury Designer Outlet
Florentia Village – Jingjin Luxury Designer Outlet is China’s first authentic Italian outlet village and promises Chinese consumers the ultimate shopping experience with 193 of the most famous Italian luxury brands, international and Chinese fashion premium brands offering irresistible discount prices all year around. Opened since June 2011, Florentia Village delivers an uncompromising shopping experience for Chinese consumers with beautiful Italian style architecture, authentic Italian and international cuisine, and entertaining public events – bringing to Beijing the fashion, culture and atmosphere of Florence Italy. With a total site area of 70,000 sqm, and a gross leasing area about 50,000 sqm, Florentia Village boasts collections from finest Italian luxury and premium fashion brands around the world. Consumers can find the diverse variety of products at outlet value laid across four distinctive shopping zones: luxury, international premium, sports and outdoor, and leisure. As of the end of 2014, more than 10 million visitors had visited the village, and its turnover was over 5.5 billion RMB.
Located in Wuqing, a fast-growing town between Beijing and Tianjin, Florentia Village – Jingjin Luxury Designer Outlet is characterized by its authentic Italian style with fabulous architecture, including a canal running through the entire village. Complete with gondolas, an elegant arena and bridges, beautiful fountains, romantic squares and porticoes, it has outdoor café and a variety of gourmet sources from all over the world. The Florentia Village – Jingjin Luxury Designer Outlet provides Chinese shoppers with a kind of shopping experience unavailable to them before, and it’s a perfect destination for a shopping day-trip for families, friends and lovers. The location is conveniently connected to the adjacent metropolitan areas by highways and national roads, as well as the Jingjin high-speed railway. There are 22 daily trains stopping at Wuqing and the train station is only 100 meters from the center's main entrance.
For more information, please contact:
+86 21 5836 8151