Ningbo Hankyu commercial complex to open April 16
TOKYO, NNA - Japan's H2O Retailing Corp., the operator of the Hankyu and Hanshin department stores, will open its first overseas outlet on April 16 in the eastern Chinese city of Ningbo.
The Ningbo Hankyu commercial complex will house 380 tenants, including luxury brand stores and restaurants, with stores and shops of Japan-based operators accounting for roughly 20 percent, according to the Osaka-based company.
The complex consists of six stories and one basement level with a combined floor area of 176,000 square meters and a shopping area of 116,000 square meters, making it one of the largest Hankyu brand facilities.
H2O sees strong demand potential particularly among middle- to upper-income groups in the Zhejiang Province city, which has posted robust economic growth. The company expects Ningbo Hankyu's annual sales to reach 3 billion yuan (about 50.4 billion yen) in the long run.
The opening of the complex had originally been set for the autumn of 2018, but it was delayed due to protracted construction work, reviews of plan details and the COVID-19 outbreak. (NNA/Kyodo)