Yintai Retails’ high-end retail brand in
continues to add first flagship stores to its portfolio
The 2020 pandemic has had a significantly adverse impact on many industries but Yintai Retails’ in brand has continued to expand. It has introduced first nationwide stores or flagship stores of many brands to shoppers and visitors over the last year, achieving outstanding results in terms of renowned international brands and trendy brands.
In particular, 49 of the 211 first stores of brands introduced to Hangzhou in 2020 became tenants of Yintai in77, placing it first among large local shopping centers. Alexander Wang, which commenced operations at Yintai in99, topped the nationwide rankings in terms of first-month sales. In the second half of 2020, many high-end retail centers under Yintai Retails chalked up historic highs in terms of footfall and sales. Many of the branded stores in these retail centers have also come in first in China and in the Asia Pacific region in terms of sales, achieving high growth despite negative trends.
Next, we highlight some of the brands that have taken up retail space at in across the country:
Yintai in88 entered into an agreement with Asics’ Onitsuka Tiger and The Onitsuka. This is the brand’s first global boutique store in China, signifying its intention to develop further in the Chinese market.
Meanwhile, Yintai in99 took the initiative to adjust its marketing strategy based on market conditions, and carried out brand upgrading floor-by-floor. It will continue to introduce first stores and new concept stores in 2021.
“First store economy” has been one of the most watched indicators in recent years. This is particularly the case during a pandemic. Brands establishing first stores are regarded as a confidence boost for a city’s retail sector and a “trump card” for retail development.
Going forward, Yintai Retails will continue to introduce more quality local and overseas brands and raise its service quality to actively contribute to the retail sector.