The Hong Kong-listed company is on track to meet
its goal of opening 20 outlet malls across 20 cities by
2020, but there are no plans to stop there. Given that there
are nearly 300 outlet malls in the United States, Beijing
Capital Grand estimates that the Chinese market can easily
accommodate 200.
“We are the only listed company that focuses solely on
outlets. Our success is a result of a combination of factors –
strong shareholder support, a strong operations team, a wealth
of brand resources and committed business partners,” Bryan
enthuses. “More importantly, outlets are booming right now
in China, so we are in one of the fastest-growing retail
sectors ever. Brand awareness is rising, and the number
of outlet shoppers is growing quickly.”
In 2018, Beijing Capital Grand recorded a turnover
of more than ¥5.1 billion (US$741.5 million), representing
year-on-year growth of 58 per cent. And 31.2 million people
visited the outlets, up 23 per cent on the previous year.
Beijing Capital Grand’s outlets are primarily targeted
towards the middle-class. In addition to featuring high-end
designer brands such as Gucci and Armani, the outlets
also offer discounted international brands including GAP,
Coach, Calvin Klein, Hugo Boss, Tommy Hilfiger, Adidas,
Fila and Nike.
“LongGoal and Capital Grand have been building comprehensive
cooperation. LongGoal is deeply appreciative of the culture,
professional attitude and passion of Capital Grand. With their strong
support, LongGoal believes we can create a brilliant future together.”- Celine Chen, Chair, LongGoal Group