Disney will open largest retail store in Shanghai in 2015
Shop intended to cater to China's growing middle class
Mickey Mouse is an international ambassador of goodwill. In that spirit, the Walt Disney Company says it plans to open its biggest retail store in Shanghai, China by 2015. The retail outlet, stocked with merchandise related to the studio's classic animated characters, is intended to capitalize on China's growing middle class, with more discretionary income.
"China's flagship Disney Store will feature the largest and most diverse collection of Disney products by local and international designers," Stanley Cheung, executive vice president and managing director, the Walt Disney Company, Greater China said.
"We are enormously proud to be building Disney's largest store in the world in China," Cheung said in a statement.
"Disney has combined the retail concept with storytelling, fun and innovation and will provide families with a uniquely immersive entertainment destination featuring our best-loved stories and characters," he said.
He said the flagship Disney Store will feature the largest and most diverse collection of Disney products by local and international designers.
"The addition of the store, the innovative design, and product and entertainment offerings will provide the Lujiazui area with a family-friendly destination focus point and will contribute to Shanghai's reputation and leadership as a family, business, cultural, entertainment and tourism destination," Yang Xiaoming, general manager of the Shanghai Lujiazui Company says. The firm is also an investor in Disney's joint venture partner, the Shanghai Shendi group.
That's not all - Disney is scheduled to open its first Disney resort in mainland China by the end of 2015. The Disney company already operates a theme park in Hong Kong.
Making its debut in 1987, the Disney Store now has 340 locations around the world.
Disney isn't the only one sensing new financial inroads to the Asian giant. Wal-Mart, the world's largest retailer, also said it plans to open up to 110 facilities in China between 2014 and 2016, in addition to the 30 it has already opened this year.
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© 2013, Distributed by THE NEWS CONSORTIUM.
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