Shanghai Aims to Spur Top Brands to Open First Asian Store in City [Yahoo! Finance]
KERING SA UNSP/ADR (PPRUY)
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Source: Yahoo! Finance
leading local and international brands to host major events and make Asian retail debuts in the city. During a press conference held Thursday at the regenerated historic shopping compound Zhang Yuan, Zhu Min, director of the Shanghai Commission of Commerce, unveiled seven initiatives to accelerate the development of what's touted to be the “debut economy 2.0.” More from WWD Lacoste Wins Trademark Infringement Lawsuit in China EXCLUSIVE: Erwin Wurm and Lanvin Lab Debut Monumental Bag Sculpture What Are China's Latest Fashion Trends? Urban Renewal and Cultural Revival The “First in Shanghai” action plan aims to organize and promote product launches between March and May each year. It will also support brands to open their first stores in Shanghai, with a bonus of 1 million renminbi, or $137,875, for the first stores in Asia. This year during the period, for example, the city has welcomed a Loewe landmark exhibition China's first Supreme store, a Gucci pop-up and an Hermès
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