DGAP-News: Powerland AG / Key word(s): Product Launch
Powerland AG opened its first flagship store in Shanghai
13.10.2011 / 08:56
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POWERLAND opened its first flagship store in Shanghai
Frankfurt am Main, 2011-10-13 - POWERLAND AG (Prime Standard / ISIN
DE000PLD5558), leading Chinese manufacturer of exclusive luxury handbags
and leather goods and listed on the Frankfurt Stock Exchange since April
2011, has successfully opened its first self-operated flagship store in
Shanghai.
This first flagship store is located in one of the distinguished shopping
areas in Shanghai, at B.C. One on Nanjing Road (W). Key boutiques of other
leading Asian and international designer brands are present in the same
place and in the very vicinity in the so called Golden Triangle with
prosperous department stores as the Plaza 66, Citic Square and Golden Eagle
where a large number of boutiques with international brands to be find as
well. The flagship store is divided into two floors offering an area of 200
sqm. The ground floor serves as display area for a wide range of the
collection of POWERLAND women's handbags, while the first floor is used as
show room for group purchases and individual orders from Chinese
celebrities.
'By opening the flagship store in Shanghai the company has started to
transfer powers of capital markets to accelerate distribution and growth in
the prospering Chinese market', stated Shunyuan Guo, CEO of POWERLAND,
amending that by opening the first self-operated flagship store the company
adheres to the committed store-roll-out strategy, set prior to the IPO.
About 70 percent of the IPO proceeds will be invested in the expansion of
the company's store network by opening 70 self-operated large-size stores
(flagship stores, exclusive stores and airport stores) and 120
distributor-operated smaller shop-in-shop stores throughout tier 1 and tier
2 cities in China like Beijing, Shanghai, Guangzhou, Shenyang, Chengdu,
Fuzhou, Chongqing and Wuhan by the end of 2013. Only in September POWERLAND
opened nine new stores. With a total of 36 openings until September 2011,
and further expansion of stores in the remaining months of this year,
POWERLAND is on track to achieve the targeted growth objectives for 2011.
The rationale of POWERLAND's store roll-out-strategy is to gain more direct
information about their customers' taste and preferences, to increase
recognition of the brand and to obtain additional margins based on retail
prices. Beside that POWERLAND intents to become the owner of most of the
properties where the flagship stores are located to avoid rising rental
costs which are expected to grow rapidly in China especially in tier 1 and
2 locations. This approach assures that acquired properties will achieve
long-term successes for POWERLAND. One third of the self-operated stores
opening in 2011 will be owned and two thirds will be rented.
Contact:
HFN Kommunikation GmbH
Karl Friedrich Brenner
PR for POWERLAND
phone: +49 / 6196 / 77 641-10
E-Mail: kfbrenner@hfn.de
About POWERLAND
POWERLAND is a leading Chinese producer of fashionable luggage and bags
with a main focus on high-quality luxury women's handbags made of genuine
leather. POWERLAND operates two business segments - a luxury segment under
the POWERLAND brand and a casual segment under the Sotto brand. POWERLAND's
operating subsidiaries are located in Fujian province and Guangdong
province in China.
For additional information please refer to www.POWERLAND.ag
End of Corporate News
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13.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Powerland AG
Lyoner StraÃe 14
60528 Frankfurt am Main
Germany
Phone: +49 172 - 67 49 792
Fax: +49 6196 - 777 99 66
E-mail: info@powerland.ag
Internet: www.powerland.ag
ISIN: DE000PLD5558
WKN: PLD555
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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142179 13.10.2011
DGAP-News: Powerland AG opened its first flagship store in Shanghai
| Source: EQS Group AG