Eland opening shopping centres in China
South Korean apparel brand Eland plans to have 10 shopping centres in China before the end of the year.
It started tapping the market in China in January, and in co-operation with Parkson aims to convert traditional department stores into city outlets. It is also working with other department stores and shopping malls in China.
Eland Group aims to have more than 30 outlets next year, and by 2020 targets 500 outlets and sales scale of CNY200 billion (US$29.5 billion).
With 56 Newcore outlets in South Korea, the group plans to introduce its operating model and experience into China. So far it has opened two shopping centres on the mainland, one in co-operation with Parkson in Shanghai and the other in conjunction with Hualian in Chengdu. Parkson, which closed a store in Nanchang in September, says it will team with Eland Group to transform the store.