SKP Beijing a hot spot for high-end fashion retail

SKP Beijing department store, the nation”s biggest and most productive retailer last year, has maintained double-digit revenue growth and is expected to achieve approximately 17.5 billion yuan ($2.68 billion) in sales for the year, according to the company.

The high-end fashion and luxury shopping mall, located in Chaoyang district, held a media tour on Friday.

Xie Dan, deputy general manager, said China’s success in the control and prevention of COVID-19 has created a relatively good business environment for all Chinese companies.

“Affected by the pandemic, SKP has attracted many consumers who used to shop for high-end luxuries overseas,” she said. “Chinese consumers contribute 35 percent to all global fashion consumption, but only a small portion of that total previously occurred in China. Meanwhile, SKP has continued innovating to provide a better consumption experience for customers.”

Beijing’s fashion industry continues to grow, with numerous brands opening their first stores in the capital, bringing new shopping experiences and fostering new growth areas of consumer spending. Many brands have chosen SKP as the location for their first flagship store in China.

In recent years, the Beijing Commerce Bureau has carried out measures to encourage brands to set up flagship stores in the capital — for example, by offering rent subsidies — in an attempt to fuel the capital’s economy.

Zhou Jiaxin contributed to this story.