Luxury outlet group Florentia Village is to invest RMB1 billion (US$159 million) in building an outlet in Chongqing, its seventh China location.
Anticipated to be ready within 12 months, the new outlet will be in the Shapingba area of Chengdu, southwest China. It follows Florentia Villages in Shanghai, Beijing-Tianjin, Guangzhou-Foshan, Wuhan, Chengdu and Hong Kong.
“With Florentia Village Chongqing, we will have completed our strategic enterprise growth in China’s main cities,” says MD Maurizio Lupi.
He says the enterprise, which provides reductions of up to 80 per cent on high-end goods will next target lower-tier cities.
Florentia Village will be seeking locales within a 60-minute drive from town centres but accessible by highways, public transport and airports.