By  on January 12, 2011

Hong Kong-based Lane Crawford said Wednesday it plans to open three new stores in Mainland China over the next few years.

The luxury specialty retailer opened its first store in Mainland China in Beijing’s Seasons Palace in October 2007. Lane Crawford said it will open a 150,000-square-foot store in Shanghai in the third quarter of next year. It also said it will open a second Beijing store on the eastern side of the city in 2012 and a 100,000-square-foot store in Chengdu in the first quarter of 2014.

"We have exceeded our projections for our Beijing store each year since opening, and with a large scale model that does not concession out business, which is rare in China. These results give us a solid foundation from which to roll out the Lane Crawford model into new cities, taking us to four stores on the mainland,” said Andrew Keith, president of the retailer, which just celebrated its 160th anniversary.

Lane Crawford joins an increasingly crowded retail scene in Mainland China as numerous luxury players open monobrand stores and department store operators eye the territory. Most recently, Galeries Lafayette said it plans to enter the market.

The retailer also said it plans to substantially increase the size of the selling space in four of its Hong Kong stores. These outlets are the IFC flagship store in Central, the Canton Road store in Tsim Sha Tsui and the Times Square store in Causeway Bay.

As part of its revamping of its Hong Kong network, the retailer said it plans to shutter its 50,000-square-foot store in Pacific Place in the first quarter of 2012 because the boutique’s size can’t be expanded. The company said the Lane Crawford Home store will continue to stay open.

"With the dramatic increase in traffic to our Canton Road and Times Square stores - in particular the number of [Chinese] customers - expansion is essential to fully meet customer demand, accommodate the growth of our high performing brands and categories, and optimize our business model and valued partnerships,” Keith said.

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