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Luxury Hengqin mall to provide a "non-traditional shopping experience"
Wendi Song
Terry Sio Un I, founder and President of Macau's leading luxury fashion brand retailer, the Rainbow Group, told HQR that the civil construction of Rainbow Life Plaza in Hengqin has been proceeding smoothly.
The seven-story luxury goods plaza, being built by China MCC20 Group, covers 16,245 square meters of land and will have a floor space when complete of 66,742 square meters. The comprehensive commercial complex is to be above ground, with three basement levels for parking.
Set to open in mid-2020, the shopping mall will specialize in domestic and international fashion brands, with Sio explaining that she wants to provide a "non-traditional shopping experience" for citizens and tourists in Hengqin.
Asked exactly what that means, she told HQR, "I have some creative ideas but cannot share them with you yet given they are commercial secrets, however there might be a combination of e-commerce and retail stores.
"Since the plaza is now under construction, we'll wait to see how the market develops and then will make plans accordingly to adapt to the market, but the most critical thing is how to attract visitors and residents living in Hengqin, Macau or in the vicinity."
Sio believes that Hengqin represents an opportunity for companies to offer something unique.
"How Hengqin raises its attractiveness is closely related to policies," she said.
"With Macau so close to Hengqin, if there are some favorable tax policies that can benefit the tourists and visitors to Hengqin, I believe that would be very useful. We're looking forward to the Hengqin government compiling some guidelines for investors so that we can cooperate with it accordingly.
"I have great hopes for Hengqin, that's why I have these expectations. I believe with the Central Government's support, Hengqin has a brilliant future."
The Rainbow Group was established in 1979 and owns the China and Macau retail rights to more than 20 of the world's leading luxury brands including Giorgio Armani, Emporio Armani, Armani Exchange, EA7, Escada, Versace, Bally, Dsquared2, Rene Caovilla, Jessica, MCM, Off-White, Marcelo Burlon and Jimmy Choo.
With more than 150 retail stores across 23 cities in mainland China and Macau, the group has the largest European luxury retail network in China.
Since 2011, Rainbow Group has been involved in shopping mall management and providing services including planning, investment promotion, design, project management and marketing.
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