Florentia Village shows good momentum in the Year of the Rabbit by delivering solid results over the Spring Festival period
SHANGHAI, Feb. 9, 2023 /PRNewswire/ -- Florentia Village, the authentic Italian designer outlet brand operated by commercial real estate group RDM Asia, today reported growth in performance during 2023 Spring Festival in China. The company announced a 35% increase in total turnover across its six Villages in Chinese mainland compared with the same period in 2022 alongside a 45% increase in visitor numbers. All six Villages had shown promising signs of growth and among them, Florentia Village Beijing-Tianjin delivered a solid increase both in turnover and footfall. This was followed by Florentia Village Shanghai, which saw increases in turnover. Florentia Villages in Guangzhou-Foshan, Chengdu, Wuhan and Chongqing also reached strong performance, all of which saw increases in turnover and visitor numbers compared with the previous year. After almost reaching the RMB 10 billion sales mark for the first time in 2022, Florentia Village is set to further capitalize on the positive momentum and strong potential of the Chinese market as it marks its 12th year in China in 2023.
As part of its celebrations for the Spring Festival, Florentia Village teamed up with a selection of top international and domestic brands to provide consumers with a series of special discounts and offers. Against the backdrop of authentic Italian architecture, each Village was also decked out with red lanterns, Chinese knots, and other traditional elements to create a unique east-meets-west style for visitors to enjoy over the Chinese New Year.
During the Spring Festival period, Florentia Village Beijing-Tianjin achieved significant performance, recording an increase in sales revenue of more than 100% and an increase in visitor numbers of more than 150% compared with the same period in 2022. Other Villages demonstrated similarly high potential, Florentia Village in Guangzhou-Foshan, Wuhan and Chengdu, where total sales and the visitor numbers grew by more than 20% over 2022 to add to their stellar performance during the period. Total sales at Florentia Village Shanghai and Florentia Village Chongqing also delivered a solid 10% growth, showcased the good momentum. Florentia Village Shanghai had recovered from the effect of Covid-19 and presented the stable trend of development. As the first major holiday in 2023, the Spring Festival proved to be a powerful demonstration of the ongoing success of the unique Italian retail experience and brand portfolio offered by Florentia Village. Both sales revenue and visitor numbers showed strong recoveries over the holiday, reaching record levels for many of the Villages to reflect the outlets' strong growth momentum and the steady recovery of China's consumer economy.
Despite 2022 being a challenging year for China's outlet industry, Florentia Village continued to innovate and develop new opportunities to drive industry growth and meet performance expectations. In 2022, total sales across all seven Villages reached almost RMB 10 billion, and close to 20 million guests visited Florentia Village outlets throughout the year. Among them, sales at Florentia Villages in Chongqing and Chengdu saw year-on-year increases of 56% and 17% respectively, highlighting the continued potential in these markets.
Alongside the success of its traditional offline retail outlets, Florentia Village has also continued to adapt to changing consumer habits through the development of more diverse retail models. The company's use of digital and online channels has enabled it to become the first outlet retailer in China to deliver a true new retail model integrating online and offline experiences. In 2022, Florentia Village launched more experiential features for consumers on social platforms such as TikTok, including the official TikTok account for Florentia Village Chongqing. Through uninterrupted livestreams conducted for 4-6 hours each day, Florentia Village connected consumers with around 100 top international and domestic brands to overcome the physical shopping limitations caused by Covid-related restrictions. Consumers could also purchase items online in real-time, with offline stores fulfilling orders to enable consumers to enjoy the same outlet experience without leaving their homes. This expansion of e-commerce offerings has been well received by consumers. In 2022, an average of 160,000 weekly visits were made to Florentia Village online platforms, generating over RMB 80 million in annual sales and making a significant contribution to Florentia Village's total sales for the year.
Florentia Village has also continued to upgrade its membership program to offer even more activities and benefits for members. Member VIP lounges provide exclusive recreational spaces for relaxation in between shopping, while VIP activities in collaboration with other brands or organizations and high-quality services offered such as pet car rental, luggage storage, nursery etc., give more diverse experiences. Among them, the Jungle family entertainment center, which has been launched in 5 villages successively, is committed to creating the best place for parent-child travel with a wealth of entertainment projects, providing new choices for family day. Florentia Village is also leading industry innovation to connect more consumers and attract more members through an increasingly complete digital retail network. This includes enhanced online live shopping experiences, membership credit services, and a convenient parking fee system, all of which are available through the 'Florentia Village outlet GO' WeChat miniprogram. As of the end of 2022, there were more than 3.4 million registered members and generated over 80% village revenue. Meanwhile, an additional 40,000 new members joining the program in the first few weeks of 2023. Through the ongoing development of both its online and offline businesses, Florentia Village is delivering consumers an increasingly sophisticated multichannel retail experience.
In 2023, Florentia Village parent company RDM Asia will celebrate twelve years in the Chinese market. Through constant innovation, Florentia Village has continued to grow and deepen its presence in the Chinese market for over a decade. Florentia Village remains committed to driving the China market forward, with overall sales forecast to reach over RMB 13 billion, and foot traffic projected to reach 26 million. In 2023, the company will further expand its operations and drive the development of China's outlet industry by bringing consumers more authentic Italian retail, entertainment and leisure experiences and multichannel retail shopping services through enhanced digital offerings.
ABOUT FLORENTIA VILLAGE
Florentia Village is China's renowned Italian designer outlet under the Italian real estate development group, RDM. Florentia Village was first launched in 2011 and currently has a total of seven outlets across Greater China, located in Hong Kong, Tianjin, Shanghai, Guangzhou, Wuhan, Chengdu and Chongqing. The outlets' distinctive Italian architecture recalls Florence, Rome and the Renaissance Age by combining plazas, galleries, fountains and monumental buildings to deliver a one-of-a-kind shopping environment. Florentia Village carries more than 300 renowned brands from Europe, the United States and Asia at a year-round discount of up to 80% off.
Thanks to RDM's extensive network of contacts within the global retail community, the storefronts are leased to the most prestigious luxury fashion brands in the world. To date, Florentia Village has achieved a combined total leasing area of 500,000m2 with 1,200 total shops. In 2022 alone, Florentia Village outlets in China attracted more than 20 million visitors, and that number is projected to increase by 31% in 2023. As the leading international designer outlet in Asia, Florentia Village brings an unparalleled Italian style and shopping experience to the region.
Official website: www.florentiavillage.com
LinkedIn: Florentia Village – Luxury Designer Outlets / RDM Asia
Facebook: @Florentia Village
View original content:https://www.prnewswire.com/news-releases/florentia-village-shows-good-momentum-in-the-year-of-the-rabbit-by-delivering-solid-results-over-the-spring-festival-period-301743088.html
Source: Florentia Village
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