Nanjing Road Pedestrian Mall is making strides toward becoming a world-class commercial destination, according to people associated with China's No. 1 shopping street.
Xie Yun, an official of Huangpu District, where the mall is located, said yesterday that significant progress has been made in attracting globally known brands.
That is crucial to a planned face-lift for the nearly 3-year-old strip. Not only must it ward off challenges from Shanghai's stylish Huaihai Road and high-rise Xujiahui area but it has given itself about a decade to reach the level of Paris' Champs Elysees and New York's Fifth Avenue.
"Flagship stores of top world brands will help upgrade the shopping street from its current medium-to-high level, and we expect the street to become known throughout the Asia-Pacific region instead of just being famous among Chinese," mall official Li Deming said.
In the eastern part of the road, close to the Bund, Shanghai Sports Product Store has already turned itself a 300-square-meter outlet for Nike, Reebok and Adidas products under an agreement with sportswear dealer Quest Sports.
And negotiations are under way to remodel stores on the ground floor of the Peach Hotel to attract dealers in luxury brands, according to people close to the talks. The sources said the hotel's management will probably switch from Shanghai's Jingjiang Group to a Hong Kong-based company within two months.
The Central Building and Huiluo Co. Ltd., two shopping centers that feature low- to middle-level goods, also want to move upscale. Negotiations with several European fashion dealers are expected to reach a successful conclusion by year's end, a local newspaper has reported.
And a famous Hong Kong leisurewear maker and a top diamond retailer have worked out plans for flagship stores in the eastern part of the pedestrian mall, the paper said.
Nor is the west being overlooked.
New World Group Co. Ltd., which owns New World City at the intersection of Nanjing and Xizang roads, will buy out several nearby businesses and renovate the buildings, a researcher assisting the company said.
The Far East Entertainment Center, the Yangzhou Hotel and the 88 Entertainment Center will become a 200,000-square-meter shopping complex within three years, according to Wang Liang of the government-affiliated Shanghai Commerce and Distribution Research Institute.
New World Group confirmed the existence of the project but declined to give details.
Nanjing Road Pedestrian Mall officially opened in September 1999, anchored by Shanghai No. 1 Department Store and New World City.
On an average day, more than 1 million people visit, with the figure doubling during holiday weeks. A recent customer-satisfaction survey turned up complaints about crowds and a lack of places to relax.
( eastday.com July 25, 2002)
