Japanese retailer H2O again delays opening its first major China outlet
TOKYO, NNA - H2O Retailing Corp., which oversees Japan’s Hanshin and Hankyu department stores, has again delayed the opening of its first outlet in China to review plan details and enhance competitiveness.
An opening for the store, tentatively named “Ningbo Hankyu”, will be delayed by a year to “in the autumn of 2020,” the retailer said in a statement Friday.
H2O Retailing found it important to “enhance the level of perfection regarding the details of the store at the time of its opening”, the statement said. That’s because the store will be the group’s first large-scale commercial center in China.
“We will partly review the details of the store to increase the impact of its opening and further strengthen its competitiveness.” The retailer has been assured that “more prominent tenants” will move into the store, according to the statement.
H2ORetailing had originally scheduled an opening for the store in the autumn of 2018 as its first directly-owned department store outside Japan. In August 2018, the group announced it would postpone opening its store by one year due to delays in construction work. The store is slated to open in the Zhejiang Province city of Ningbo.
According to the original plans, the store will have six levels above ground and one basement level with a combined floor area of about 170,000 square meters. The retailer will invest 3 billion yuan ($425 million) in the project.