Qianmen Street refuses international "big luxury brand"

The total reserved area of commercial property on Qianmen Street developed by SOHO China has surpassed the actual area available for rent by five times. During the conference held on June 16 in Qianmen Street, president of SOHO China Pan Shiyi pointed out that of all the businesses moving in, national brands will account for over 70 percent. Even the international brands to be included will not be big luxury brands. In order to ensure the street can open for business before National Day, all businesses will move in by September 20.

The Night View of the New Qianmen Street

“This is not an up-market business area. Qianmen Street’s main customers are tourists who have just finished watching the flag-raising ceremony, and we hope that they will leave with sweet memories about the street.” Pan Shiyi said that almost all the big international brands had contacted them, but after thinking it over, they refused these brands because the average consumption capacity of Qianmen Street’s customers is not consistent with the “big brands,” adding that “Garments from big international brands usually sell for tens of thousands of yuan, equivalent to the annual income of most Qianmen Street tourists. If they see these big brands all over Qianmen Street, they will have quite mixed feelings.”

In addition to time-honored brands of Beijing, many time-honored brands of other provinces also like to display their wares on Qianmen Street. Wang Wei, deputy secretary-general of China National Food Industry Association (CNFIA), disclosed that a number of leading food enterprises from other provinces have organized a group to set up their branches on the street. For example, Harbin Laodingfeng Food Co., Ltd. is hoping that its “pastry flowers” from Heilongjiang Province will bloom all over Qianmen Street.

It was learnt that nearly all the former time-honored brands on Qianmen Street will return to the street, and brands including Wuyuati, Jiangnanbuyi, Wangmazi, Haagen-Dazs, COSTA CAFÉ, Tianfuhao and the Bank of China have already signed contracts.

On June 16, reporters saw in Qianmen Street that at present few businesses have formally moved in. However on the doors of many vacant shops, posters of the brands about to move in and those with the slogan “Century-Old Street Is Reopening” were pasted. All the posters clearly state that the street will soon open to customers. At present, only one international brand, “H&M”, has set up a branch on the street, while “Uniqlo” of Japan and “ZARA” of Spain have displayed their brand posters. All three are fair-price clothing brands.

Translated by LOTO